It is for an IP. Why "could be"? Under what circumstances would it not be?
Would the interest charged on money borrowed to pay for a Tax Depreciation Schedule be tax deductible? I know the schedule itself is tax...
$3,500 Nothing if it works. But lots given it won't. Not a bad idea though. But as Terry said I'd probably rather the $10.
They are not trying to sell me any properties. They are just trying to sell me their advice. A heft fee for something that seems highly unlikely...
My accountant (a medium sized firm) has suggested that they have a method to make all properties (PPOR and all IP's) exempt from CGT. It involves...
Thanks again for your advice Terry. Very much appreciate your work on here.
I think I'm slowly piecing this all together. Previously you said: "Alternatively repay the full $140k loan down to $100 or so and redraw...
No I haven't. But I have been told by another accountant that the brokers plan (transferring the money back into the $140k equity loan account)...
Thanks so much Terry. I'm certainly confused with all of the options but at least I know it's best not to proceed right now. Would a very simple...
The savings account that the 90k was paid into was our daily transaction account that we've had for years. It is with the bank we refinanced to,...
I refinanced my mortgage on my PPOR. It is a $200k loan, but I have $150k in savings available in redraw, so have $50k owing. At the same time I...
Short version: How do you know how much equity to release from PPOR for an IP purchase? Are there any problems with borrowing too much and then...
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