Hi everyone,
I’m interested in purchasing a PPOR & trying to find out which way I should structure my finance for this purchase.
I currently have a PPOR & no mortgage on it, so no FHBG for me. My parents & I own this property & do not intend to sell; parents will continue to live here.
I also have 4 IP’s that I & wife own & currently are in total negatively geared at $7k per year (this is at current interest rate).
With my situation, what would you do if you were to buy a PPOR?
A. Use equity from IP’s to finance PPOR purchase
B. Sell the IP’s that have had capital gains.
C. Or other. ( please explain if other)
Now I know there will be a lot of tax complications since it’s not tax deductible, just wanted to know if anyone has figured out a way & have done this before.
Suggestions, advice?
Thanks!
George
I’m interested in purchasing a PPOR & trying to find out which way I should structure my finance for this purchase.
I currently have a PPOR & no mortgage on it, so no FHBG for me. My parents & I own this property & do not intend to sell; parents will continue to live here.
I also have 4 IP’s that I & wife own & currently are in total negatively geared at $7k per year (this is at current interest rate).
With my situation, what would you do if you were to buy a PPOR?
A. Use equity from IP’s to finance PPOR purchase
B. Sell the IP’s that have had capital gains.
C. Or other. ( please explain if other)
Now I know there will be a lot of tax complications since it’s not tax deductible, just wanted to know if anyone has figured out a way & have done this before.
Suggestions, advice?
Thanks!
George