I got it. Thanks all for your advise.
Thanks Terry. so I can pay it back into Main property loan - sub account2, right? and in this case, is the IP loan full deductible as 4% of 10K is...
I think this should be borrowed money. I haven't got that money yet. was wondering how should I deal with it when I receive it. Here is how I get...
Thanks Jess. The loan looks like: Main property loan Sub Account 1: Sub Account 2: 50K, (48K used for IP and 2K used for personal)...
Hi Terry, The IP loan can cover all the deposit and expense for settlement due to the market value has gone up, and there will be still around...
Hi Jess, Do you mean I need to open a new sub account for the new IP loan or put the money in the sub account of the existing loan which I used...
I have a subaccount 50K for an existing loan, which I used 48K for an IP, and 2K for personal use. now the IP is ready for settlement and I will...
can the fund be parked in the lawyers trust account for off the plan property, would that be too long? and the interest will be still deductible?...
Thanks Terry, appreciate your great help. Luckily no more deposit later on. So Better to recycle 100k split in the future, then I can claim 99.9%...
Thanks Terry. The loan initially is used like a transaction account. Putting salary in, transfer out for expense or investment whenever required....
For a mixed loan, after certain point of time, there is no payments made into the loan(start using offset account), all the redraw after this...
Thanks so much Terry. It was BW. I will go with saving account option, and close it once done.
Just went to bank today, I was told it's not possible to draw a bank cheque from loan account, have to transfer to a transaction or saving account...
Thanks a lot Terry.
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