I am not a master in these but I found this link which might bring some clarity of what can be done in NSW. There is no indication that property cannot be IP..
http://www.osr.nsw.gov.au/about/services/osrassist/marriage/transfer/liable/

As I have written in my previous post it didnt work out for me and my bank misguided me I thnk.

Hi Qlds007,

I have an off set account which I was using but my interst never came down. When I enquired my finacial institution they said interest only gets reduced if i start paying the principal. As you may have already worked out my knowledge about these were pretty basic and it was very hard to understand this twisted concept.

So this offset…[Read more]

Hi Shahin,

Yes

Thanks god people in this forum are assuring 39 is not too old. I am in the same boat as ford fairline and need to make my first move. 
Thisngs are not that clear but this forum is a great source..

got it thanks.

Thanks Guys,

Great, though do not understand every bit of it atleast would be able to ask right questions now. Jamie and Nathan is there something on the web that explains my situation in simple language? can you please guide me to that, if possible. 

Hi Qlds007,

If my spouse not working. Can she get a loan? Can I be guarantor for her loan? 

Thanks Derek.

Hi Jamie,

Thanks

I got that. but why?

Hi all,

I was explaining my wife or tried to explain my wife as to what I have written in my post previously money withdrawn from a PPOR cannot be used to buy a IP and claim tax on it.

From what I understand on a $250K loan if I have paid $200K up front which would reduce the interest on my loan considerably. If I withdraw that $200K and invest…[Read more]

Hi Qlds007,

yes, I solely own this property, what purpose does spousal transfer serve?

Thanks,
cha

Thanks a lot Nathan.

I have learnt a lot in a day about IP.

As you have suggested, If a buy a new house to and make it my primart residence do you still see Interest only loan is suitable? I though Interest only loan is suitable for IP.

I will definetly do more homework and speak to a mortgage agent.

Thanks
cha

Nathan,
You might start hating to reply to my queries, I am sorry mate!

Basically redrawing money is considered new borrowings. It is irrelevant where it comes from.. if you use these newly borrowed funds for anything of personal use (PPOR, Car, holiday  etc.) than you would not be able to claim the tax benefits.

I with drew money for personal…[Read more]

God this confusing!

I was under the impression that I can use this money as a deposit. OK now what If I use $200K for my personal use like buying car or holiday. Can I then claim $269K as -ve gearing?

Ta 
Cha

Josh,

I was under the impression that the appreciation of property have 7-8 year cycle. Which hasn't really taken place in my situation. But the option of making my existing unit a IP was based on the charges that I incur If I purchase a new IP. like solicitor fees, stamp duty etc..

Thanks cha

Hi Nathan,

What is PPOR?

As I said my present unit is not investment. I live in that unit, If I have paid off $200K, I do have right to withdraw that money and use it as an deposit to another property? Am I right in saying that? 

My unit will be turned into Investment property owing $260K wahich i can claim -ve gearing. 

Thanks
cha