Forum Replies Created

Viewing 4 posts - 1 through 4 (of 4 total)
  • Profile photo of dwong8dwong8
    Member
    @dwong8
    Join Date: 2004
    Post Count: 7
    June 26, 2007 - 12:34 pm

    Thanks Everyone for your contribution.

    I am not incurring bank fees yet since I have not setup a Trust account. But if I do, the bank won't set an account up unless it is a business account and the account has monthly fees.

    Apart from above fees I listed, additional fees are changes to the Trust Deed will incur fees of about $500.

    Thanks Elka for your suggestion, looks like I need to brush up on my Trust knowledge.

    Thanks and regards…

    Profile photo of dwong8dwong8
    Member
    @dwong8
    Join Date: 2004
    Post Count: 7
    October 19, 2005 - 2:37 am

    Thanks you Gavin and Cyclist for your feedback. I will tread slowly with Townsville.

    Thanks and regards…[blink]

    Profile photo of dwong8dwong8
    Member
    @dwong8
    Join Date: 2004
    Post Count: 7
    October 16, 2005 - 9:30 pm

    Thanks Mikala for your response. Good to hear your IP is doing well.

    You mentioned Kirwan and old property. I figured that I woun’t be able to get a relatively new house for $250K?

    Thanks for the tip. I will get in touch with a couple of Agents and hound them.

    Thanks and regards…[blush2]

    Profile photo of dwong8dwong8
    Member
    @dwong8
    Join Date: 2004
    Post Count: 7
    May 22, 2004 - 12:03 pm

    Hello,

    I too had just read Margaret Lomas’ books and it was a great enlightenment for someone like myself. I had just acquired Steve McKnight’s book and is reading through that as well.

    I like to know whether the Tax Office has problems with Margaret’s concepts ie.
    (1) A Account #1 for personal home loan.
    (2) A Account #2 for investment loan.

    The rental investments goes to Account #1 to reduce personal loan. But use Account #1 to pay interest on Account #2, such that the loan amount in Account #2 doesn’t increase.

    My question is, will the tax office have problems with using the rents from an investment property to repay your own personal home loan? OR does the Tax Office don’t care how you spend the income, so long that you can’t artifically increase the loan on Account #2.

    Thanks and regards…

Viewing 4 posts - 1 through 4 (of 4 total)