When this was typed in it was as stated below as it could change with tax reforms by Henry Report

There is a six year rule for claiming the first PPOR as your PPOR capital gains exemption.
However the second property would not be able to be claimed as ppor at the same time.

http://www.ato.gov.au/individuals/content.asp?doc=/content/36887.htm
look for
Home used to produce income for more than one period totalling six years
in web link above
If you can prove that you lived in the first place with records you can nominate it as being main residence while renting it out !

Hope this helps,  you will need to ask accountant or ATO how to nominate it as main residence for up to six years.

If it is a radio remote find out who makes the remote and the toggle switch settings from body corporate or previous owner
and buy another remote and change the toggle switch settings on the door and on the remote to match each other and stop old owner getting into garage.
The locksmith may sell the radio remote also !

When you move back in the interest on the main residence is not tax deductible where as the other investment property will be tax deductible via negative gearing if costs are more then the rent and you have wage to reduce tax on.

Do you have the original software installation disks.
The problem you are having is most likely due to missing DLL files that would be installed most likely into c:/windows32/system
from the installation process.
You may be able to move the hard drive from the old computer into the new computer and set it as the master IDE drive via the links settings on the hard drive if the new P.C motherboard has an IDE port

Once you move the hard drive you need to contact microsoft and explain that you have upgraded the hardware and need a new licence key which will require you to have the original windows installation Compact disk unless your old P.C is  using an OEM version which cannot be transferred.

You may achieve the same thing via a program called ghost rather than swapping drives.

You already have by buying your own home.
Pay down more on this mortgage as the expenses are not tax deductible
And any capital gain is CGT exempt if this is your main dwelling

Depends on lenders allowable LVR
Usually done with a line of credit loan against main residence security for next deposit needed.
Currently your loan is 480k and 120k is deposit then you have 80% LVR which is what line of credit lends to.
So as an example lets pretend that your house goes up in 2 years time to $690,000 in value
(this value increase was based on a guess of 7% p/a annual compounded growth)
and you have managed to reduce the loan to 470,000
LVR = 470 / 690 *100 = 68% (i took off the 000's as they get cancelled out in the maths equation anyway)

AS you can borrow to 80% LVR there is some equity
Mortgage + Line of credit loan / Value = 80%
to work this out
80% of value – mortgage left = line of credit
80/100 * 690 – 470 = 552 – 470
Line of credit =$82 k

If cross securing both properties lenders may go up to 95% LVR
loan one + loan two / property one value + property two value.
(470 + 420) / (690 + 420)
890/ 1110
equals 80% LVR

This way you stand to lose both houses if you default.
See other postings on cross securitising as risk is higher.

I assume say we can take out 100k, and we have 40k saved in 2 yrs, does that mean we can use the 140k as a deposit for buying an investment property? But one big question would be since we still have our 1st mortgage, how/why would the banks lend to us to buy a 2nd one? thanks heaps in advance guys and girls! [/quote]

you may want to look at paying a once a year fee for the portfolio loan rather than being slugged each month.
One trap is that it is easy to borrow more money so if you top up a line of credit loan for some reason it can build up to quite an amount.
You most likely will get also a credit card with that product so be careful not to clock up the visa card too much.

I have two portfolio line of credit loans with the happy dragon.

I use the amortization template for Excel to work out how much to repay on the loans to pay them off in whatever time frame I want.

I am not completely sure if this is what will happen so check /clarify with lender.

The $62,000 would be handed over as progress payments to the builder as the lender normally asks for a deposit from you via  you paying the builder.
So you pay the first couple of stages of construction up to $62,000 plus whatever other deposit was needed.
Then you have to show the receipt to the bank at each stage and they check the work has been carried out.
Once you reach the end of your contribution the invoices have to be given to the bank who then pay the builder for the next stage of construction that has been completed.

Usually the valuation can use both methods but the lender usually goes with the valuation that gives a lower result.

Do not forget if a client states they can afford a loan they need to earn the amount stated as the ATO cross checks loc doc loan stated income with what a tax payer declares their income is on their tax returns.

Claire this is an Australian Property Forum.
In Australian Dollars thats about  $738,530 – $1,559,120
What is the rules in Scotland towards foreign investment as the Chinese are keen on investing in other countries at the moment.

It really depends on the loan
Is the loan a massively negatively geared investment loan
so when you pay off more on the loan you decrease the loss and then get less of a tax deduction. However you usually only get 30%  of your loss back.
So $150,000 * .06 = $9000 interest expenses
pay of $30,000
SO $120,000 * .06 = $7200 in interest expenses
$9000 * .30 = 2700 tax return opposed to $7200 * .30 = 2160 tax return so you have lost $540 in tax deduction but saved $1800 in interest expenses.
This $1800 saved actually would come off your loan amount if repayments were kept the same
So next year you would have a loan of say $116,000 before interest reduction and $114,200 with the reduction
$116,000 I pulled this out of thin air as I do not know how much you are normally paying off loan in a year.
now $114,200 * .06 = $6852 the following year in interest charges. You get a compounding effect from reducing the loan while keeping the repayment the same. This over 10 years can save you a lot of interest.

Lets take the $30,000 and put it in a bank
Year one $30,000 * .05 = $1500 – Taxed at 30% = $450 = $1050 minus 2% for CPI = 600 equals $450 in real terms
Year two $31,050 * .05 = $1552 – taxed at 30% = $465.50=$1086.40
year three $32136 * 0.05 = $1606 taxed at 30% = $482.40 = $1123.60
After ten years this will grow to $40886 and tax at $613 p/a
However $30,000 is no longer worth $30,000 after ten years . It doesn't buy the same as it did ten years ago due to inflation.
Based on a 2% CPI you have really only made $4317 as $36569 is what buys $30,000 in ten years time due to inflation.
However the tax man doesn't use indexation on savings interest earned so it really is probably about 3% a year in interest you are earning even though tax is on the 5% interest.

Back to the loan while you have been saving money off the loan the property would have been going up in value over the ten years.
Say loan was $300,000 and you paid of an extra $30,000 interest before $30,000 equals $111,774
after total interest is $96,389 you save $15,000 in interest over twenty years due to compound effect.

you could use an offset facility to get more flexibility.