wisepearl wrote:
So sounds like my possible scenario with the loan is not really acceptable under current SMSF guidelines. Back to the drawing board

CorrectBy the way you can't mortgage a part of a property only a whole property.

wisepearl wrote:
Can a SMSF name go straight onto the tite? I recall reading something about SMSF investing in property through options or trusts or something more complex…Are you suggesting that rather than a straight out "cash" loan direct to me for use on the property, the SMSF could say go on the title as 20% owner and therefore allow…[Read more]

HiAs previous poster says……generally SMSF fund trustees cannot lend to or invest in a related party or related trust of the fund however they can in certain circumstances such as where the loan/investment is no greater than 5% of the market value of the fund's total assets.

hiAs others have said……it depends on a lot of things but overall financial risk assessment of the borrower by lenders is the main thing that drives end rate.As an example, doing one now for extremely wealthy professional. Loan is stand alone $1.26M at 70% LVR for Sydney CBD strata commercial office suite. Variable rate to the borrower is…[Read more]

robwilson wrote:
Hi Guys,What about the payday loan industry any of you guys had experience in this field ?CheersRob

 The Payday loan sector is finally getting some well needed attention.http://www.smh.com.au/national/screws-turned-on-loan-sharks-20110827-1jfb7.html

HiWhats the security for the loan? Is it resi or commercial?

So you think that the ATO can't see past that……..hmmm

HiMy understanding is that the title deed determines the percentage of claimable deductions. ATO ID 2002/363 & TR 93/23 states; "that the loss or income from a rental property must be shared according to the legal interest of the owners, except in those very limited circumstances where there is sufficient evidence to establish that the equitable…[Read more]

euro73 wrote:
Thats good information Mike- thanks.Seems as though The Rock has a pretty competitive product. In the scheme of things, $300 or so in set up costs is pretty inconsequential, if they have superior borrowing capacity. Correct me if Im wrong, but I believe St G is priced at 7.80% and The Rock is at 7.89%?  Not much in that,…[Read more]

Sorry ……….I stand corrected on The Rocks LVR its now 70%

euro73 wrote:
OK. My understanding was that the Rock has 70% LVR, no Personal Guarantee and more generous borrowing capacity than both St G and NAB…. and an app fee of $600. That would seem to make it a very good product in a side by side comparison. Is that not the case?

The Rock servicing seems to be more generous (80% of all rental income…[Read more]

You will need to be careful with 2nd mortgage/caveat vendor finance behind a bank because the bank (1st mortgagee) will most likely have clauses in their mortgage documentation  stating something along the lines of:1/ that they must consent to any subsequent mortgage &2/ that you cannot create another security without their consent and if you do y…[Read more]

euro73 wrote:
So the Rock and St George are amongst the better SMSF loan products then?

If LVR is not an issue my preference would be St George or NAB

euro73 wrote:
Richard/Mike.Pro's/cons of those three lenders products, versus the Rock and St George?

Too many to list here in detail and depends on your individual situation but here are a few;

Minimum net SMSF Asset Position – CBA require minimum $300,000
Variable Interest rates – vary 7.67% to 8.59%
Monthly/ongoing fees – from $8pm to…[Read more]

In NSW so long as you live in the property as your  PPOR continuously for 6 months commencing within the first 12 months following settlement you are entitled to both the FHOG and the stamp duty exemption if applicable. 

Westpac & CBA being the others

maree_bradross wrote:
god_of_money I checked out their website it has the following on SMSF:Borrow up to 90% when guaranteed by yourself and the trustee, and secured against the propertyBorrow up to 65% when guaranteed by the trustee and secured against the property

You need to be either a doctor/dentist or accountant as Experien only provide…[Read more]

zaclan wrote:
Great thanks for the info. I've found a property I'm interested in but the property will be leased until Mar 2011. I would plan to move in straight afterwards to avoid any hassles.. While the tenant is still there can I claim any deductions as an investment property or best not to claim anything? Cheers

HiWhat state are you…[Read more]

TimPlease give me a call 02 9263-2631Mike

Ash7261 wrote:
Hey guys what is the tax advantages with IP in SMSF? is it the same as personal as in write off visits to the property for inspections?

Does the income from the property count towards my contributions as i am currently at limit?

Regards

Ash

hi Ash

In simple terms contributions are taxed at 15% and the capital gains tax…[Read more]