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  • Profile photo of Alex MorganAlex Morgan
    Participant
    @alex-morgan
    Join Date: 2009
    Post Count: 6

    Thanx again terry,

    looks like the parents are best to go guarantors or money lenders then. Might be better to identify what to do by looking at the following deal!

    4 bedroom 2 bathroom on 650m2 block with side driveway asking 275k to 300k..
    Loan repayments between 400 to 450 per week.
    Rent per room to uni students for 130 a week ( 520 for house) all bills and Internet included.
    Subdivide back block ( approx 325 to 350m2) and sell between 125 to 150k.

    So I guess my question is what are the costs I have to consider and how are they calculated when subdividing?
    How is the CGT exemption calculated and from when the property is settled how long do we have to wait b4 we can sell the rear block?

    Thanx again

    Profile photo of Alex MorganAlex Morgan
    Participant
    @alex-morgan
    Join Date: 2009
    Post Count: 6

    Thanx Terry!

    I earn appox 57K and My partner works PT and earns about 35K but lives at home and has a better savings record than me as she saves about 75% of it. Thinking of me living in one room and renting out the other rooms to uni students. Would I/we be entiled to the FHBG if we go halves with parents or should the parents go as guarantors?? How would this affect structure and TAX?

    If my partner and I go into a Unit trust with parents do we forego our FHBGs or since it’s not going to be a home for my partner she can use hers at a latter date?

    Sorry if it souds confusing still learning!!

    Ta

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