Thanks – they just get us everywhere dont they… tax, tax, tax even tax on tax.

Okay, this topic continues to intrigue me.. just cant work out the best thing for me to do. Thanks for bearing with me.When I signed the contract for the 'off the plan' purchase the developers were offering a rather healthy reward for referring other purchasers to the project. Many of my friends also purchased therefore the $80k is a referral…[Read more]

Thanks for clearing that up for me.. I need to make some changes!

Intrigue wrote:
On a similar chain of thought. I am learning that it is a good idea to work hard over the years to pay down my non-deductable debt on my PPOR and pay only interest on my IP. My question is that if after I have paid off my PPOR (wouldn't that be a great day). What if I decide I would like a new home, a new PPOR. It is unlikely t…[Read more]

cmason wrote:

Intrigue wrote:
Stupid question. If I have 10,000 sitting in an offsett account for a loan of $300,000 @ 6.54.How much interest am I saving as a result of having this 10k sit there? Is it as simple as 6.54% of $10k equals my savings each month?

My understanding would be that your monthly savings would be 1/12 of 6.54% of…[Read more]

Stupid question. If I have 10,000 sitting in an offsett account for a loan of $300,000 @ 6.54.How much interest am I saving as a result of having this 10k sit there? Is it as simple as 6.54% of $10k equals my savings each month?

On a similar chain of thought. I am learning that it is a good idea to work hard over the years to pay down my non-deductable debt on my PPOR and pay only interest on my IP. My question is that if after I have paid off my PPOR (wouldn't that be a great day). What if I decide I would like a new home, a new PPOR. It is unlikely that I would want t…[Read more]

An offer presented in contract form is always considered more seriously.

It is a bit of a long shot but your buyer may have an appointed power of attorney that would 'with his permission' may be able to sign and complete the contract terms?

Owe okay thanks Terry,So perhaps the contract shows the value @ $138,000 and the deposit of $80k. Upon settlement I pay the balance.I pay stamp duty on the total value. This maintains my value and aids future CGT issues.Do I still need to declare this $80k as income – as I am not being paid it. Would I have to decalare it as a CGT event?Sorry for…[Read more]

Thanks Terry,Would your advice to me be pay the $138,000 for land and then declare the 80k income pay my .38c in the dollar and just cop it sweet? If I do this as I had planned (unless any one has any better ideas) I was going to set up the land loan seperate to my PPOR and pay the $80K into my PPOR… does this sound like an okay plan? Why do I k…[Read more]

Why are they selling?How long has it been on the market?Are their any comparable homes for sale nearby?What could or does the home rent for?

Thanks Terry, I'm getting there.Thanks Matt, naturally I would seek professional advice before entering into such an agreement. I live in a relatively small town and finding people (even solicitors or accountants) that know about this sort of stuff is albeit impossible. Thus I seek to learn in anyway I can.Just one more question.. sorry.The strike…[Read more]

Oh my this thread has me confused. I have in the past heard of people signing up to 'off the plan' purchases with Put/Call options which seem to be called Call and Put within the above correspondence? I have also heard of people signing with "and or nominee". I dont really know what these are or what is the difference between them? I understand…[Read more]

Thanks number 8, how do we go off-line as such.. Do I email you from your website?

Forgot to mention – I have spelled out a five year plan of investment but have not yet grown my knowledge enough to determine how or even if this is achievable-  advice on how I might achieve such goals would be welcomed and or how I might create a financial plan etc.

Okay I am back, Thank you Duckster, Andy Kirby and Crusty for your comments. I also appreciate the compliments as I thought perhaps I was going mad seeing something that others didnt seem to be considering.Duckster – I do know a little of LOC's. I even had my PPOR under an LOC at one stage, for reason which have now changed it was a disaster.…[Read more]

Thank you very much for your comments. I will spend sometime obsorbing this information and no-doubt be back with some questions.

Sadly from what i hear, this is common in new developments. They keep the figures conservative as it makes the selling process a little easier. The first years show that the conservative figures were too conservative and as such the costs need to be increased.I have not heard of a way to claim against this, I think it might fall into the buyer…[Read more]

I am amazed that someone can put a caveat on someone elses house!I am wondering now why the small business man who is owed funds from the rich man on hill doesnt put a caveat on his home?A tenant could do this to the home they rent so that the landlord cannot sell and thus they secure a long term rental opportunity.. hmm.. crazy