All Topics / Help Needed! / Any advice welcome!

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  • Profile photo of shergarshergar
    Member
    @shergar
    Join Date: 2006
    Post Count: 7
    July 17, 2006 - 11:52 pm

    Hi All,
    Just needing a little advice as I’m not sure what to do?
    My wife and I (plus 2 kids) have just moved up to Brisbane from Sydney.We have an IP in Sydney which is rented and one on the gold coast which is also rented,we are also renting.
    What I’m unsure about is
    A. Should we stop renting and move into our IP on the Gold Coast
    B. Keep renting

    Which is more investment smart??

    Any help appreciated[thumbsupanim]

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    July 18, 2006 - 4:51 am

    Smarter to rent in many cases. You can still claim your sydney home as the main residence for 6 years and get deductions on everything, and not living in your gold coast home means you can claim everything on that too.

    But all this will depend on loan sizes and incomes etc.

    Terryw
    Discover Home Loans
    Parramatta
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    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
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    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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