EJay replied to the topic Discounted sale tax treatment in the forum Creative Investing 10 years, 11 months ago
Hi Mr 007,
clearly plenty of lenders are willing to lend more than purchase price given that 100% finance + expenses is common
Have looked into it further and this kind of structure has been executed in a number of bulk deals previously. I spoke to an independently recommended solicitor in QLD who said that it used to be permitted in QLD but…[Read more]
EJay replied to the topic Discounted sale tax treatment in the forum Creative Investing 10 years, 11 months ago
Thanks guys, yes I will clearly be getting a good solicitor to take a look, I've been recommended a good Brisbane lawyer. Bank is aware of secondary contract.
So far my financial planner's accountants think that it is a reduction to the cost base. Getting a second opinion as if it's income that could obviously impact the holding strategy.…
EJay replied to the topic Methologies, tools, tips, advisers… in the forum Help Needed! 11 years, 6 months ago
P.s. I work in finance so can get LMI waived with 10% deposit rather than typical 20%. For now!
EJay replied to the topic Methologies, tools, tips, advisers… in the forum Help Needed! 11 years, 6 months ago
Some great leads here, thanks folks. I tend to agree that I'd prefer to educate myself rather than trust the advisers. But wouldn't it be great if I could land the perfect adviser and build a trust relationship because they are prepared to take the time to educate me. Mythical creature??
As context I'm 35 yo, currently in highest tax bracket but…[Read more]