Thanks for your help Paul – I wish to really exit the property altogether so not sure an IC is the way to go for me.
I don’t have a current listing at the moment – I have only just resigned a 6 month lease with new tenants and will need to wait out the 2 month waiting period before listing it again. In that time I want to have everything ready…[Read more]
Hey,I too have an IP on the Gold Coast and had to submit the forms your talking about. I would definatly agree with Marg in that "it never pays to lie to authorities, they have a knack of finding out and the penalties usually far exceed any monies saved". And besides the little extra you will pay is tax deductable anyway. Cheers
Thanks Battleships!I didn't have the knowledge I have now and when I got the loan for the IP I requested to use equity in my PPOR for deposit on the IP. I was discouraged my the Bank Manager and Stupid me listened to the Bank Managers Advise, "you don't need to do that just borrow 100%", and I ended up having to pay mortgage insurance (which I…[Read more]