So for the guarantor to have no assets in his own name would mean that he would need to show serviceability from employment income? What if the guarantor was a bit more wealthy and no longer had to work, and his income is from his shareholding in a business, and that would not be good for asset protection, what would be a good arrangement /…[Read more]

Thanks for your replies everyone.

Also forgot to mention that the purchase price for my properties were around $150,000

Let us know how you went with it, my situation is very similar to yours, and I'm getting a QS soon too. How much did you claim? Although my unit cost $150,000; so maybe different from yours.

My understanding is that the reno can be depreciated by your accountant based on cost of the renos, but the rest of the property you will need as QS.

I think it would be better to pay off your loans first and not your HECS with your excess cash because the HECS interest rate is the inflation rate, which is less interest rate than your loans.

Hi,Thanks for the replies.My units were built in the 1970s  (so before 1985).I have spoken to some of them. Some have said that it is still worth doing the depreciation schedule for the old fixtures and fittings, and will ensure that the amount claimed will be more than the cost of the report. Others have said that it is not worth it, the units…[Read more]

With the name of the trustee on title, how do you or the ATO know that it's not the trustee person or the trustee company who personally bought the property, but actually the trust that bought it?Say the trustee was Steve Jones, what would appear on the contract and title?Is it Steve Jones, or Steve Jones trustee for Trust Name?Do trusts have…[Read more]

But I only earn about 15,000 income a year at the moment. According to an online mortgage calculator, I’ll need about 40,000 income to be able to get a 240,000 loan for 80% loan for 300,000 property. So I am still far from that. or is it less with a low doc / no doc.

Currently I don’t have enough deposit nor borrowing capacity since I am working part time.

My parents can take some equity out of their existing property/redraw from their loan to help me make up the rest of the 20%. And they simply just draw a cheque and pay for it on settlement, or do they need to put that money into my savings account first,…[Read more]