Terry's Tax Tips

Thanks @Terry_w for the great tax tips. I’m sure at some point or another most members have found a number of these tips very helpful.

Cheers

 

That deserves 3 more

Tax Tip 201: Can a Trust Distribute Franking Credits to Someone Other than the Dividend Recipient? Tax Tip 201: Can a Trust Distribute Franking Credits to Someone Other than the Dividend Recipient?

Tax Tip 202: Stamp Duty Exemptions for fixing Mistakes Tax Tip 202: Stamp Duty Exemptions for fixing Mistakes

Tax Tip 203: The Pleasures of CGT: 5 Reasons Why CGT is better than Income Tax Tax Tip 203: The Pleasures of CGT: 5 Reasons Why CGT is better than Income Tax

 

Tax Tip 204: Better to claim an expense off income rather than CGT? Tax Tip 204: Better to claim an expense off income rather than CGT?

 

Absolutely you have many stalkers Terry

 

this deserves another post

Tax Tip 205: CGT on Main Residence when land over 2 Hectares Tax Tip 205: CGT on Main Residence when land over 2 Hectares

 

Tax Tip 206: What are ‘initial repairs’ and why they are not deductible? Tax Tip 206: What are ‘initial repairs’ and why they are not deductible?

Tax Tip 207: Tax Trap when renting out a New Property Tax Tip 207: Tax Trap when renting out a New Property

 

Tax Tip 208: Main Residence CGT Exemption and Death During Construction
Thinking about death I put this tax tip in the estate planning section

 

Tax Tip 209: How to Save CGT on Investment Property Part II – Planning ahead Tax Tip 209: How to Save CGT on Investment Property Part II – Planning ahead

Tax Tip 210: How Non-Owners can be affected by the Main Residence Exemption Tax Tip 210: How Non-Owners can be affected by the Main Residence Exemption

 

Tax Tip 211: Deductions for Travel Expenses Related to Property Tax Tip 211: Deductions for Travel Expenses Related to Property

 

looks like I buggered up the numbering again this 212 was posted as 211

Tax Tip 212: Claiming Interest after Sale of Asset at a Loss Tax Tip 211: Claiming Interest after Sale of Asset at a Loss

Tax Tip 213: Can a Trust distribute to a private school so you can save tax? Tax Tip 213: Can a Trust distribute to a private school so you can save tax?

 

Tax Tip 214: At what date is CGT Triggered? Part 1 Tax Tip 214: At what date is CGT Triggered? Part 1

Strategy: Sell a property - 10 reasons to consider selling Strategy: Sell a property - 10 reasons to consider selling

 

Tax Tip 215: Transfer of Property to a Special Disability Trust and Stamp duty Exemptions Tax Tip 215: Transfer of Property to a Special Disability Trust and Stamp duty Exemptions

Tax Tip 216: Tax Trap Demolishing the Main Residence and Selling Land Tax Tip 216: Tax Trap Demolishing the Main Residence and Selling Land

 

Tax Tip 217: Declarations of Trust and Stamp Duty Tax Tip 217: Declarations of Trust and Stamp Duty

Tax Tip 218: Renting out Part of the Main Residence and CGT Tax Tip 218: Renting out Part of the Main Residence and CGT

Tax Tip 219: Debt Recycling v Borrowing Extra to Invest Tax Tip 219: Debt Recycling v Borrowing Extra to Invest

Tax Tip 220: Strategy to Avoid CGT for generations to come (forever?) https://www.propertychat.com.au/community/threads/tax-tip-220-strategy-to-avoid-cgt-for-generations-to-come-forever.39833/

 

Hi Terry,
I read your tips on not to mix loans.

I would appreciate your advice if possible.
My PPOR loan has about 250k sitting in redraw after i paid it down with inheritance. Its not in offset, its in the loan but available for redraw still (reduced my payments).

A financial advisor told me i could “split” that loan, and take advantage of the PPOR interest rates by using that money in the redraw towards an IP. He said as long as it was split, then the interest for the IP portion is tax deductible.

Ive never heard of this before and don’t understand it.. I would really appreciate your pro’s and con’s.

Thank you!

 

Is your financial advisor licenced to give tax advice and credit advice?

See my tips, I have written about all of this.

 

Im not sure- have only had initial free consult so will have to look into that if using him.

I read your tips about never mixing them. However i wasnt sure if you meant “dont mix unless you formerly split the loan”.
Or whether it was advice regardless of this.

What is it called when you “split” a loan ? I need to research this idea more so that I can understand it.
Thanks

 

read all the articles as the answers are there

 

I have read multiple tips from Terry on this.
I just wanted to check that I interpreted it correctly - that is ok to “mix” a loan as long as you split it first, and that its not two IPs on the same loan.

 

Here is a Koan for you:
If you split a loan would it mixed?

 

No? I dont know. Maybe still yes, its mixed. However its split for tax purposes ‍♀️ Ha ha..