I think your issue in Australia would be that unlike a sale for unpaid rates, any sale by the sheriff would still be subject to registered mortgages on the title.

You don’t need to convince me about the benefits of multiple occupancies on one title. I can buy multiple occupancy in a major regional city on a gross yield of 10.6%, with a net of around 7.5%. Much lower risk. I was just stating what kind of gross return I would want if I were to take on the risk of a small western nsw town dependent on agriculture and irrigated cropping where there is going to be little opportunity for capital gain and where I’m probably going to need to put 40-60% down. I quite like Warren as a town.

Suggest you start with a good mortgage broker to see whether this is feasible. Give them as much information as possible.

Think outside the box. May be you might be better to buy and lease out for a year. i understand stamp duty on conveyancing in the ACT is tax deductible on IPs because it is actually transferring the lease.

1. Deliberately lying on loan application ie saying there is/will be income (rent) that there won’t be. Obtaining money under false pretences.
2 & 3 No effect from CGT or Land Tax

Steve, thank you for taking the time to describe your weekend to us.

May I suggest you do some due diligence first. One of your posts suggested wedon’t ask for advice. You could post on this forum or another forum asking for people to recommend newzealand buying agents, accountants, lawyers etc.

Second, if you are tax resident inAustralia and make capital gains overseas you will be taxedinAustralia. A trust structure might not prevent that. In fact you might have to consider what the tax implications are for an overseastrust controlled by an Australian tax resident.

You could easily end up $30,000 out of pocket. Why was the land on that side excavated? Was there a pollution issue etc?

From memory, the unemployment rate is based on people looking for work, not simply jobs. Jan/Feb would have more people looking for work – finishing uni, school, etc etc. Also from memory ABS doesn’t count you as unemployed if you are working minimum 1 hr per week.

You haven’t given any time frames showing when your father needs to settle or what he needs to make it happen. What does he need? Does he need to find say $280,000 plus to get 20% equity in properties 3 and 4.

a. can you or someone else lend it to him;
b. can he onsell any of properties 2, 3 and 4
c. can he sell his house and/or property 1 to come up with what he needs
d. see a good mortgage broker
e. get legal advice whether any of the contracts can be crashed
f. can he negotiate an extension on settlement for Properties 3 and 4
g. has he something else he can sell
h. can he get a TTR pension from his super
i. is he old enough to get a second job, resign from it and trigger a release of superannuation

• This reply was modified 7 years, 9 months ago by  crj.

what state check ehether you can pass it on if the flat is not separately metered

If they still have 10 months to go then you are unlikely to be able to increase the rent.