Imagine if lo doc/no doc loans were still around

Discussion in 'Loans & Mortgage Brokers' started by MTR, 23rd Jan, 2016.

Join Australia's most dynamic and respected property investment community
Tags:
  1. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,786
    Location:
    My World
    OK, you don't have to use them but certainly a product that is an avenue to move forward if there are serviceability issues.
     
  2. sanj

    sanj Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    3,461
    Location:
    Perth
    Nothing to do with the lender, if the business you're running makes more than 75k a year turnover the ato will want you to be gst registered.

    Rams policies might not require gst registration but if you're claiming more than 75k income, which is likely, then the ato will.
     
  3. headsonbeds

    headsonbeds Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    155
    Location:
    Brisbane
    What if the income is from resi rent? No gst to pay.
     
  4. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,786
    Location:
    My World
    Sanj
    Yes, I am registered for GST.
    But with this product it was not required that's all.

    MTR:)
     
  5. dabbler

    dabbler Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,572
    Location:
    Sid en e - olympic city
    Probably not, not unless it is a new ABN and fake accountant, people will not flock to low doc and it is def different to years ago, even then, most wont be doing the ABN and accountant thing.