I think the 'spruiked' intention behind the scheme is good but the social repercussions need to be identified and mitigated. They should probably...
Thanks Terry
Is there any issue in terms of tax with splitting a Loan into two i.e. split 1. PPOR with offset IO split 2. Granny flat (no offset IO) Does...
Thanks Terry. A Property must be either earning an income, be available, working towards or be eventually income producing to claim interest...
What about deductibility of interest in house renovation period before moving into IP making it the PPOR? However, having a secondary dwelling on...
Thanks Terry. Will do.
no construction...Was there on purchase...
Just to add onto this post. If 25% of loan is land under granny flat vs 75% of loan is land under main residence/PPOR, would splitting the loan...
Unless you use Bank of Adelaide or Mortgage house which offer an Offset account on fixed rate loans greater than the standard 1 year. But yeah a...
Tax Tip 120: CGT and moving into an Investment Property Tax wise you are always open to Capital Gains Tax (CGT) if it is first an IP. However...
So for example: Jimmy and his wife buy an IP in NSW as 'tenants in common' 99/1 % High income / Low income respectively for the negative geared...
Floor area would be easier to justify....Thanks Terry I liked your tax tip no. 86, Like depreciation, money is worth more now than later. Tax Tip...
Private ruling RBA Content | Australian Taxation Office States: The granny flat incorporated in the floor plan in your residence will be...
Thanks Terry and Paul. The granny flat is not exclusively fenced but has obvious boundaries with shared access. If land and the building are...
Hi all, Scenario: Property purchased for $500k: IP for 2 years with main house and granny flat tenanted. After 2 years, we move into main house....
Meh, It works out to be only a couple of hundred dollars. But thanks anyways Mr Morrison.
Lesson: If disposing of IP assets, try to sell property with expected capital loss before or in the same year as property with expected capital...
Another reason not to Cross collateralise Can the bank withhold sales proceeds to offset a second loan?
Each lender has different amounts and scales. Last refinance <11 yo was considered less per month. Which is true. Two kids under the age 4 cost us...
Thanks Terry, So I would just have to add up the relevant expenses for each and apportion appropriately..?
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