Hi Andrew

'''You can gear your existing property easily by transferring the equity into your PP (the new home) and then using that homes equity as security for your old house which is now able to be geared 100%''

but is this useful for tax purpose ?

Mayuran

Hi Andrew

'''You can gear your existing property easily by transferring the equity into your PP (the new home) and then using that homes equity as security for your old house which is now able to be geared 100%''

but is this useful for tax purpose ?

Mayuran

thanks Terry

I have variable interest only loan . how do I pre pay the interest ? just transfer extra money into home loan ? or is there a special procedure with the bank?
Thanks
Mayuran

Hi AllWho would you recomend in Sydney/ Sydney West area ?ThanksMayuran

booge wrote:
I've also been advised via this forum (and another learned mortgage broker on here!) to put the extra $15000 available for redraw from the IP loan into my current PPOR home loan offset. My accountant has advised me using the $15000 for the PPOR offset will not help for tax purposes and complicate tax more and not be advantageous.…[Read more]

Terryw wrote:
But, there may still be ways to do what you want to do, so don't give up. It may also be wise to apply for a private ruling..

How do i do that?
Mayuran

Terryw wrote:

Mayuran wrote:

Terryw wrote:

Mayuran wrote:
I also have similar question , I have a PPOR & IP , can i pay all the rent i receive to the PPOR , and take out another LOC and pay for the IP loan ? will this be allowed for tax purpose?

Again, would depend on the situation and purpose. Why would you want to structure it that…[Read more]

Terryw wrote:

Mayuran wrote:
I also have similar question , I have a PPOR & IP , can i pay all the rent i receive to the PPOR , and take out another LOC and pay for the IP loan ? will this be allowed for tax purpose?

Again, would depend on the situation and purpose. Why would you want to structure it that way?

So that i can reduce the…[Read more]

I also have similar question , I have a PPOR & IP , can i pay all the rent i receive to the PPOR , and take out another LOC and pay for the IP loan ? will this be allowed for tax purpose?

Thanks Terry !

Whats the best way of avoiding next year? because their accounts going to earn even more interest next year…

Mayuran

Hi Charlieyou can use the excel loan amortization template to work this out. To get this template , open excel , File >new> under the templates select '' loan amortization' template . this template can be used to check various senarios. in your case , you would add 45k under extra payments in month 1 and deduct 45k & agreed interest in month 12.…[Read more]

there is a typo in my previous posting : saving to your sisted is 526.50 not 426.50 – cheers

One year savings should be calculated as follows…Sisters mor = 7.17%Agreed rate sister paying you: 6%no of days in her account : 365 days Amount : 45000As per my formula above (7.17&-6%) x45000 x(365/365)= 426.50Hi Richard : what is the 182.5? and why are you taking 7.1% istead of (7.17-6)- 1.17%?thanksMayuran

Yes what i meant by ‘`The rate she is paying’ – is the rate she agreed to pay you..

Mayuran

(Sisters Morgage rate  –  The rate she is paying) x 45000x (no of days in her AC/365)  cheersMayuran

Hi Chief WigamCould you please provide the link to the online form you mentioned ? i tried to serch lee county website – no sucess..also update me if you get the letter ?tksMayu

Hi LadyO /FinspecI am also very new to investing… looking for my first IP…& love to take part in discussions …living in inner west willing travel as well….Mayuran