This is what we got told when we were leasing our place as we had some defence people for our property. This was in qld

well have spoken to a few buisness owners in moranbah and rents are getting to expensive for them to rent houses. alot of them are housing there workers in dongas in the industrial area where the have there  buisness. the problem they have now is the mac camp in town that use to serve casual meals to people that did not stay at the camp are not…[Read more]

is there any real benifit to having a quantity survey done on our house as it was built say in 1975 and all we could depricate is what renovations we have done. some rule if it was built before 1987 you can't depricate it any further. i still think it is worth getting it done to atleast help offset some off the tax. what does everyone else think.

why not setup an IO with offset account pay the IO portion and then the difference between the IO and PI put into the offset account and use this as a kind of forced savings thus giving you money to use for the next property or have it there to payout the other loan when you get enough money if you want to go that wayjust a thought

ok so went and seen the account and basically all we need to do is change our current loan from PI to IO and get the redraw account removed. Open another savings account for rent to go into and for expenses to come out of but these can come from anywhere. and when we buy a new PPOR we then have an offset account against this.

i am confused time to talk to the accountant again

so what you are saying is that we need to refinance our loan to create a new loan so this does not affect any borrowings and cross contaminate the loan

yes i understand that but does that still applly if i change the loan to IO and change the redraw account to an offset account and remove the redraw money before setting up the new loan

so at the moment we have about 10k in redraw and owe 280K on the house and 35K on another split which is IO so if we change the house loan to interest only with an offset account and move the 10K from redraw to another savings account before the new loan is setup while we are still living in our PPOR and then rent our house out in january would…[Read more]

Terryw wrote:
Broker would likely get a new upfront commission from the new lender. This could be the motivation.Watch out for withdrawing money from the loan as if it goes towards the new PPOR then the interest won't be deductible and you will have mixed purpose loan.

I thought this is why you have an offset account attached to the IO loan. If…[Read more]

what data would you like to see i can pm you if you would like to see what ou can suggest

i thought this is what i was meant to do. so when changing your PPOR to IP i thought I was meant to set it up as interest only with an offset account. is this not the case. I may have not made myself 100% clear as we will not be buying another PPOR straight away could be 6 months down the track. So what you are saying is that to change from the…[Read more]

ok so i just went and check what our loan is and it is an ING MORTAGAE SIMPLIFIER. our broker was saying that if we wanted to change from this current loan to the ING IO with offset account it would cost us the same as refinancing is this true? and does ING only have 1 IO account with offset feature? I know if we wanted to change our current loan…[Read more]

we converted our garage into another room (not council approved) as we need more room for our daughter and all her toys and to keep the lounge room clear of all her toys. it would of cost us about the 5 – 7k mark to do this ourselves. we got a couple of quotes from some builders and the wanted about 16-20k to cut 2 holes in the wall and put 2…[Read more]

Was just reading the local mackay paper and they were reporting that rents have doubled in moranbah in the last 12 months, where people were paying 750 a week are now having to pay 1500 plus a week looks good for the investor out there

thaks for thatsay for an example if i was to buy a brand new piece of equipment for 500k including gst what is the monthly repayment that i would be looking at with or without residule. i have been offered x amount of dollars a month and just wondering if it would stack up as a viable option

tony, we will be moving back to mackay next year after 12 years in brisbane. if you are worried about flooding stay away from glenella, greenfields, valetta gardens. these all got flooded last time. I guess what alot of people in these areas didn't relise was that when alot of this area wasn't developed it was all badly flooded back in 1990 from…[Read more]

From what i have read so far it does not matter with your PPOR but if you want to turn your PPOR into an IP you need to have your loan on interest only and have a 100% offset account so that you do not contaminate the IP loan so you can claim more against you tax.

thanks for the replies.We will be looking to get around $400 a week for our house in brisbane and looking to spens no more than $500 week on rent in mackay. We will be renting house for a minimum of 12months with the plan to buy another ppor house in mackay. At this stage we are not planning to move back to brisbane. Not sure if it is going to…[Read more]

Ok as this seems to be a bit of a favourite topic that i have seen while doing some searches. What i have come up with so far is 1 talk to an account2 we should get our loan change from a redraw to offset ?3 we should look at selling the house before 6 years ?what else should we be looking at