Private School Fees and Servicability

Discussion in 'Loans & Mortgage Brokers' started by Harry30, 12th Aug, 2018.

Join Australia's most dynamic and respected property investment community
Tags:
Page 3 of 3
  1. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,629
    Location:
    Gold Coast (Australia Wide)
    Under any sensible assessment of loan affordability, one cant ignore the equivalent of a whole HEM for a small family............

    Some will argue that private schooling is discretionary.

    In theory I agree, in reality, I have done this work over enough tome and have found that in many families the context of public schooling is not acceptable.

    Mums and Dads will eat instant noodles, wheatbix and rice and work 3 jobs to make it happen.

    ta
    rolf
     
    Rolf Latham, 16th Jun, 2019
    #41
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,902
    Location:
    Australia wide
    Terry_w, 16th Jun, 2019
    #42
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,902
    Location:
    Australia wide
    If a one off gift, or interest free loan, to a third party, that third party could ,,,,invest the money, and pay the school fees
     
    Terry_w, 16th Jun, 2019
    #43
    Harry30 likes this.
Page 3 of 3
Join Washington Brown's Tax Agent Referral Program