AM2778 started the topic Recommendations on Mortgage Broker from Brisbane (Northside) in the forum Finance 8 years, 10 months ago
Hi All,
Ive recently moved to Brisbane and am seriously looking for recommendations on a good/sound mortgage broker who0 can help us out with Finance/Re-finance.Would appreciate recommendations.
many thanks
AMAM2778 replied to the topic Change of Main Residence – clarification required for CGT Exemption & 6 yr rule in the forum Legal & Accounting 8 years, 11 months ago
Thank you very much for the clarification.
Very much appreciate the information thats been provided.Regards
AMAM2778 replied to the topic Change of Main Residence – clarification required for CGT Exemption & 6 yr rule in the forum Legal & Accounting 8 years, 11 months ago
One last thing – what are the thoughts around this
– If you sell the old home within 6 months of purchasing the new home – both properties are covered by the main residence exemption;
In my case, if I sell the Melbourne property within 6 months of the purchase of Brisbane property then:
1) Melbourne property sale proceeds will be CGT exempt
2) W…[Read more]AM2778 replied to the topic Change of Main Residence – clarification required for CGT Exemption & 6 yr rule in the forum Legal & Accounting 8 years, 11 months ago
One last thing – what are the thoughts around this
– If you sell the old home within 6 months of purchasing the new home – both properties are covered by the main residence exemption;
In my case, if I sell the Melbourne property within 6 months of the Brisbane property then:
1) Melbourne property sale proceeds will be CGT exempt
2) When I do d…[Read more]AM2778 replied to the topic Change of Main Residence – clarification required for CGT Exemption & 6 yr rule in the forum Legal & Accounting 8 years, 11 months ago
Thanks Terry. You have been very helpful and informative.
AM
AM2778 replied to the topic Change of Main Residence – clarification required for CGT Exemption & 6 yr rule in the forum Legal & Accounting 8 years, 11 months ago
I understand. So in summary:
1) When I sell the Melbourne property within the 6 year period, the sale event will be CGT exempt.
2) The new PPOR in Brisbane will be subject to CGT (if and when i decide to sell it).What if, after a couple of years of selling the Melbourne property (for which the sale was CGT exempt), I decide to do the…[Read more]
AM2778 replied to the topic Change of Main Residence – clarification required for CGT Exemption & 6 yr rule in the forum Legal & Accounting 8 years, 11 months ago
So I decide to sell the Melbourne Property and nomianate that property as my PPOR. the sale proceeds will be CGT exempt.
What if, after 2 years, I decide to sell my Brisbane Property that I’m currenytly residing in. Will the sale of the Brisbane Property be subject to CGT?
Thanks
AMAM2778 replied to the topic Change of Main Residence – clarification required for CGT Exemption & 6 yr rule in the forum Legal & Accounting 8 years, 11 months ago
Thanks Terry.
So, I’m currently living in Brisbane. Thats my current PPOR.
With the my former PPOR, now IP, I need clarity on the following:
1) Can I claim tax deductions for the expenses incurred for the Melbourne Property Rental?
2) In the event that I do decide to sell the Melbourne Property, will I be paying CGT?Many thanks
AMAM2778 started the topic Change of Main Residence – clarification required for CGT Exemption & 6 yr rule in the forum Legal & Accounting 8 years, 11 months ago
I had a PPOR in Melbourne that I purchased in June 2007. I decided to invest in Brisbane and bought a property with an investment loan in August 2015 with a 90 day settlement period; settling in October 2015.
During the settlement of the Brisbane Property, I got offered a job in Brisbane. I decided to move into the Brisbane Property (New PPOR) and…[Read more]AM2778 started the topic Purchasing a property in Hawthorne QLD; first use as an IP and then a PPOR in the forum General Property 9 years, 5 months ago
Hi All,
A couple of questions I wanted to throw it out there to the forum:
1) Hawthorne QLD
– Whats the review of the suburb?
– Whats Capital Growth v/s Rental Yield?
– Hows the schooling?
– Is it good place to live or to rent it out ?2) First use as an IP and then a PPOR
– I want to buy a property in Hawthorne, first as an IP and then move…[Read more]AM2778 started the topic When to commence Landlord Insurance on Investment Property ? in the forum General Property 9 years, 9 months ago
Hi All,
I have paid a deposit on the Investment Property on March 28 based on the unconditional approval from the Lender.
The settlement is due on May 1.When should I take out Landlord Insurance on the property –
1) Should I be taking out the Insurance from when I paid the deposit? or
2) Should I be taking out the Insurance from the Settlement…[Read more]AM2778 started the topic Conveyancer needed for Brisbane property purchase; I'm based in Melbourne in the forum General Property 9 years, 11 months ago
Hi All,
I’m based in Melbourne and have a contract of sale for a property in Brisbane.
Before I put an offer of purchase, I’d like the contract of sale to be reviewed by a conveyancer.
None of the Melbourne based conveyancer are willing to review the contract and have advised that I contact a QLD based conveyancer.
Can anybody recommend a QLD…[Read more]AM2778 replied to the topic Brisbane Property Market in the forum General Property 10 years, 3 months ago
Hi All,
What about the Bayside Suburbs in Brisbane? Cleveland, Victoria Point, Wynnum, etc.
It seems that these areas have a good rental yield…. > 5%.Considering that I am based in Melbourne and am not that familiar with Brisbane Property Market, I’m seeking advice if these areas are worth investing in?
Feedback on this will be greatly…[Read more]
AM2778 replied to the topic Brisbane Property Market in the forum General Property 10 years, 4 months ago
Thank you superAndrew for the response and the details provided.
I will surely use the tool that you have provided and also look into doing the legwork to gain an understandingThanks heaps for the advice.
Much appreciated.AM2778 started the topic Brisbane Property Market in the forum General Property 10 years, 4 months ago
Hi All,
I’m interested in understanding whats the condition of the Brisbane property market. Is there potential for Brissy to see Capital Growth?
is it a good time to invest or nor ? if so, what suburbds should I be looking at ?
Also, for an interstate investor like myself, whats the best way to buy a property in Brisbane ? Is it worth…[Read more]
AM2778 replied to the topic Can the PPOR LOC be paid down by Accessing the Equity from IP? in the forum Finance 10 years, 11 months ago
Jate,
I could not agree more.
I would like to reduce the LOC secured against the PPOR and continue to use only the LOC secured against the IPs..
The problem that I'm facing is that the there is not enough Equity built up in the IPs to get a LOC and use the funds in the LOC to pay down the PPOR LOC.
Perhaps, its just the market…[Read more]
AM2778 replied to the topic Can the PPOR LOC be paid down by Accessing the Equity from IP? in the forum Finance 10 years, 11 months ago
No particular reason. My guess is that freeing up the PPOR LOC with the IP LOC will have 2 benefits:
Can use the PPOR LOC for another IP pruchase – IP 2.
Have Cash flows of the IP 1 (rent and Loan Repayments) come out of IP 1 LOC.
No. PPOR LOC does not have a high rate …
Thanks
AM2778 replied to the topic Tax Deductions for Interest on Capital Costs and Borrowing Expenses in the forum Legal & Accounting 13 years, 4 months ago
Terryw wrote:
You will have to be very careful as the ATO could deny deductibility.have you seen TD 2011/D8http://law.ato.gov.au/atolaw/view.htm?docid=%22DXT%2FTD2011D8%2FNAT%2FATO%2F00001%22Thanks Terry. I will forward this ruling to my accountant.However, I think what I'm trying to get at is:If the IP IO Loan Repayments are coming out of LOC…[Read more]
AM2778 replied to the topic Tax Deductions for Interest on Capital Costs and Borrowing Expenses in the forum Legal & Accounting 13 years, 4 months ago
Terryw wrote:
What is your reason for using the LOC to pay interest on your investment loan?Cash Flow Management for one, offset to reduce repayments in to the PPOR. Also, if not from LOC, then from where should the IP repayments come out ?Thanks
AM2778 replied to the topic Tax Deductions for Interest on Capital Costs and Borrowing Expenses in the forum Legal & Accounting 13 years, 4 months ago
Terryw wrote:
Do you mean you are taking the IP repayments from the LOC?Have you had advice on this or taken out a private ruling?If you keep going the limit will be hit on the LOC, then you will hopefully have paid down your PPOR loan by an equal or higher amount and may be able to get a new LOC or increase the existing one.yes thats correct.…[Read more]
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