To leave it untenanted for less than the 3mths. For example, tenants out by early January, leave it vacant for say a month and then start to re-advertise for new tenants, so all up it is left vacant for say 6 weeks (saying that it would take 2 weeks to find new tenants). Would that be seen as being a sufficient amount of time to the ATO?

thanks terryso you are saying it could even be less than 3mths? i was just going on what would be seen as being feasible in the eyes of the tax office. less is always better!thanks!

this just in the local paper today….http://www.townsvillebulletin.com.au/article/2012/02/29/309721_news.htmland a bit more about the DHA land purchase at Rasmussenhttp://www.dha.gov.au/about/news/townsville-land.html

Hiya allI grew up in Townsville and moved away over 20 years ago but go back every few months to see family. I bought my 2 investment properties there (contemplating a 3rd) and although, looking back, I had no real clue as to what I was doing, I knew it would be a winner as all you say about the stable, multi pronged Townsville economy is true.…[Read more]

thanks terryi appreciate you explaining it all

thanks terry,do you mean  if i ever live in IP no.2 (the one i'm taking the $54,000 out of)?

thanks for that terryi had a thought…what if i take it out of the redraw at IP no. 2 and place it into IP no. 1 redraw instead of in the offset of IP no. 1? i don't want to touch it to live off or personal expenses, and that would show on my bank statements and it is still against an IP…..what do you think?

hi terryi want to lessen the payments on my second IP by  locking in a good rate but don't want to lose my $54,000. the first IP has obtained the most growth in value and will be the one that I will definitely keep long term and perhaps even move back into at the end of the year. the $54,000 plus savings i have, will make a great deposit on…[Read more]

thanks for replying, terryso do you see any other way that i could handle it? or am i best to leave the loan as it is with all the  'bells and whistles'  ie offset and redraw facility? is the $54,000, where it is at the moment, deductible? or if i was to take it out at a later date and put it up as part of a deposit on another property, IP or PP…[Read more]