Hi There,
I have 3 IP's at present and I am about to do a revaluation, draw down on equity and set up an offset account as I have run into some problems now using the redraw account I have bumbled along with for the past few years.
Question is, do I need to have an Offset account for each property, or will 1 suffice. I have heard some different views on this. Some say only having the one will raise Interest Capitalization problems??
By the way, I have posed this question to my Accountant but it appears he is too busy working on his golf handicap to get back to me.
Can anyone offer any advice, it would be appreciated.
Cheers
Pango
I have 3 IP's at present and I am about to do a revaluation, draw down on equity and set up an offset account as I have run into some problems now using the redraw account I have bumbled along with for the past few years.
Question is, do I need to have an Offset account for each property, or will 1 suffice. I have heard some different views on this. Some say only having the one will raise Interest Capitalization problems??
By the way, I have posed this question to my Accountant but it appears he is too busy working on his golf handicap to get back to me.
Can anyone offer any advice, it would be appreciated.
Cheers
Pango