Hi all,
I posted a thread 3 weeks about about issues with cross collaterisation
http://somersoft.com/forums/showthread.php?p=1277328
Well I requested the cross be removed and LOC setup. Well I thought all was well but settlement occurred today and turns out I do not have LOC setup. I spoke with Suncorp and they said no LOC is setup... Just standard loan account. They suggested I speak to my broker...
Well I did and he said that it's like no it's not LOC, it's similar... IT's a standard loan account with withdraw linked to offset.
What does this mean for for me tax wise? I only plan on using the funds for investment. Can this be resolved? I feel so frustrated!
I posted a thread 3 weeks about about issues with cross collaterisation
http://somersoft.com/forums/showthread.php?p=1277328
Well I requested the cross be removed and LOC setup. Well I thought all was well but settlement occurred today and turns out I do not have LOC setup. I spoke with Suncorp and they said no LOC is setup... Just standard loan account. They suggested I speak to my broker...
Well I did and he said that it's like no it's not LOC, it's similar... IT's a standard loan account with withdraw linked to offset.
What does this mean for for me tax wise? I only plan on using the funds for investment. Can this be resolved? I feel so frustrated!