HI All,
What is tax benefit to setup LOC in addition and separate to my loan with the offset?
MI
What is tax benefit to setup LOC in addition and separate to my loan with the offset?
MI
Benefit to Setup LOC
- Thread starter MelbInvester
- Start date
What are you actually planning to do with it? How do you intend to use it? What is the purpose of the existing loan?
I've found the flexability of it to be the major benefit.
No need to draw down the entire credit limit.
Allocated sub accounts for each individual property.
When the time comes, open another sub account, and draw down funds as required.
Of course, you do pay a premium interest rate for the privilege, but the funds are available immediately, whenever you require them.
No need to draw down the entire credit limit.
Allocated sub accounts for each individual property.
When the time comes, open another sub account, and draw down funds as required.
Of course, you do pay a premium interest rate for the privilege, but the funds are available immediately, whenever you require them.
Hi Peter,
I'm trying to Invest in Properties.
I'm with Westpac with home loan and two investment loans with an offset account. So i need to know, my new loans structure to be LOC or offset?
New Plan is to go with Interest only for all Loans.
MI
I'm trying to Invest in Properties.
I'm with Westpac with home loan and two investment loans with an offset account. So i need to know, my new loans structure to be LOC or offset?
New Plan is to go with Interest only for all Loans.
MI
Hi All,
All my loans are with both names (50/50), is this a bad way of setting up the loan stricture?
What is the benefit with one person name?
Can we sell to my wife after few years and make a profit?
MI
All my loans are with both names (50/50), is this a bad way of setting up the loan stricture?
What is the benefit with one person name?
Can we sell to my wife after few years and make a profit?
MI
Hi All,
All my loans are with both names (50/50), is this a bad way of setting up the loan stricture?
What is the benefit with one person name?
Can we sell to my wife after few years and make a profit?
MI
Not so bad, but if you had property ownership separate, you could:
- Gain asset protection advantages
- choose which of you should incur a capital gain if you had to sell one
- possibly improve land tax
- possibly improve serviceability
- estate planning benefits with wills.
I recall WBC is one of the lenders that has a repayable on demand clause ........beware
Ta
Rolf
Does Suncorp?
