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  • Profile photo of AC78AC78
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    @ac78
    Join Date: 2012
    Post Count: 10
    May 26, 2012 - 1:27 pm

    thanks Richard
    Have just emailed you

    Profile photo of AC78AC78
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    @ac78
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    May 25, 2012 - 7:50 am

    so the interest on the 300K or the 200K would be deductible?
    Thanks Terry for your hepo

    Profile photo of AC78AC78
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    @ac78
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    May 25, 2012 - 6:05 am

    if we attach an offset to the loan is this how it works:
    e,g loan in $300K and the rate is 6% 
    we have $100K in an offset account that has an interest of 4%

    on the difference, the $200K we pay 6% and the $100K we pay 4%

    In terms of tax deductibility we have been told from our banker that he thinks (but is not sure) the whole $300K is deductible at 6%. is that right?

    Profile photo of AC78AC78
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    @ac78
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    May 24, 2012 - 10:57 pm

    Thanks Terryw, I am new to all of this, what do you mean by subsequent repayment…..is that if paying off mortgage. We have paid off the house except a nominal $100 which is just keeping the loan open for us in the case we want to redraw.

    Profile photo of AC78AC78
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    @ac78
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    May 22, 2012 - 12:30 pm

    Thanks Jamie I will give them a call tomorrow. they must be pretty good their name seems to come up on lots of the posts

    Profile photo of AC78AC78
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    @ac78
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    May 22, 2012 - 8:39 am

    Thanks for the help. Will definitely need to find another accountant, up to know has not been a problem that he was not great as had very easy tax. anyone have any suggestions for accountants in south east melb? have seen house of wealth has often been recommended, would prefer someone a little closer though.
    Thanks

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