How many non-deductible loans do you have?

[spludgey]

Personally, the only non tax deductible loan that I have is for my PPOR, but I was interested to see how many other people have.

For credit cards, don't list them if you pay them off before paying interest, but do list them if you don't pay them off.
Other than that, any kind of credit that's not deductible. So personal loans, car loans, borrowed money from family that you pay interest on, etc.

 

[D.T.]

Just ppor now, was able to pay off my 2 personal loans

 

[Peter 14.7]

None here. Wife assumes everyone is like that, she is so cute like that! :roll eyes:
Peter

 

[EN710]

Only one. Technically 2, credit card and ppor. But CC is (almost) always fully paid everytime I got my salary

 

[serendip]

Currently 1 - PPOR, soon to be none for a couple of years then 1 again.

 

[citystar]

Currently only one loan is non-deductible which is the PPOR.

 

[Brady]

No PPOR at this stage, 1 of IP will be PPOR next year.

2 credit cards - never paid a cent of interest. autopay

 

[JPS25]

None for us we paid off our PPRO a few years back just before getting our 3rd IP
Credit cards always paid in full and on time
No car loans or other personal loans

 

[tobe]

too many. PPOR home loan, wifes car loan (mines deductable) and a couple of interest free credit cards for the bathroom reno and the last o/s trip

 

[allsuccess]

PPOR and a credit card (Auto Pay).

 

[mumbai]

PPOR only
and 10 damn chars

 

[Richard Feynman]

PPOR only.

 

[danwatto]

Rental yield is low where we live, so we rent

No non deductible until the day we live off equity

 

[travelbug]

None.

PPOR paid off but I have a LOC against it (deductable of course) and I have LOTS of deductable loans.

We also have 2 credit cards (for ease of use really) but pay them off each month.

 

[Mick C]

None.
Just a S*** load of IP debt...8

 

[Scott No Mates]

What's 'non-deductible debt'?

 

[D.T.]

Rental yield is low where we live, so we rent

No non deductible until the day we live off equity

Sorry to go off topic, but care to share how you'll maintain LOE status? ie, once you've spent your equity loan, do you go back to the bank and ask for more to be released? What happens if they say no?

 

[danwatto]

Hi DT

My LOE plan is not pure LOE, it's a mixed approach:

1. Year before retirement take maximum line of credits in both names (or offset drawings)
2. Live off the positive geared rent as much as possible, dipping into the LOC as needed
3. The rent and capital growth will more than cover the minimal use of LOC
4. Once I hit 60, can get access to my SMSF (currently blue chip Aussie shares)
5. In any major sellers market, can sell a property at some point to clear non deductible debt if want to become more positive geared

So I don't intend to continuously apply for new loans or use cash bonds, I want my investments to pay for themselves and also pay me a bit too.

But the equity gives us a big kick start and some emergency funds to let us retire earlier.

I'm hoping the line of credit will last 10 years or more, can retire at 45 or 50 and the SMSF will mature at 60 and give us diversified shares income.

 

[r3ckless]

Havenone that will be converted to ip next year.

 

[marty998]

1 PPOR...hopefully replaced by a bigger PPOR next year