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Recently, I am considering to refinance and my broker offered me AFM product at variable 5.9% with title insurance $200 and everything else such as application fee all nil.
My question is has any one here had experience with them and their product? Thanks
Good points in relation to offset acc. Thanks for sharing your experience Rolf and Aaron. My broker told me offset is esstencially the same as the redraw facilities if the fund is used for investment. Is there a different tax implications between the two? I felt not the same some how from the vogue recollection of the tax office reading.
Good points in relation to offset acc. Thanks for sharing your experience Rolf and Aaron. My broker told me offset is esstencially the same as the redraw facilities if the fund is used for investment. Is there a different tax implications between the two? I felt not the same some how from the vogue recollection of the tax office reading.
What do you think?
My broker told me offset is esstencially the same as the redraw facilities if the fund is used for investment.
Friggin hell!
Technically correct, no? If the redrawn funds are used for income-producing activities, then the deductability of the interest shouldn't be in question. And the interest impact on the outstanding balance is the same for offset and redraw.
(Having said that, I KNOW the difference and wouldn't choose redraw! )
sure............ but thats like saying,dont need a seatbelt, coz 999.9 % of the time you wont crash.
Its not the known bits that gets us into trouble, its where we think we are fine under our DEFINED conditions and the conds change .........
ta
rolf
My broker told me offset is esstencially the same as the redraw facilities if the fund is used for investment.