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  • Profile photo of RENEE2003RENEE2003
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    @renee2003
    Join Date: 2003
    Post Count: 11
    September 24, 2003 - 8:53 am

    I work for channel seven doing admin part-time. With the rest of my time I look after my 2 year old daugher.
    I see there is a few fireman, my husband has been a fireman for 7 years in the NT.

    Profile photo of RENEE2003RENEE2003
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    @renee2003
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    September 22, 2003 - 11:26 am

    Thanks for your help. Might do tomorrow if it hasn’t sunk in by then.

    Bye all.

    Profile photo of RENEE2003RENEE2003
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    @renee2003
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    September 22, 2003 - 10:55 am

    Thanks makes better sense now. I put mine and my husbands whole income fortnightly into our home loan and then redrawer at the beginning of each month to pay off our credit card. So with a savings account on the side I can still do this and pay my ip off sooner.

    Profile photo of RENEE2003RENEE2003
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    @renee2003
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    September 22, 2003 - 10:15 am

    My interest rate is 6.57% variable with CB. I want to change this over soon to a lower fixed rate.

    Don’t have any other debts. Should I just save money into a ING account?? Better interest rate.

    Profile photo of RENEE2003RENEE2003
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    @renee2003
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    September 22, 2003 - 10:00 am

    So does that mean what ever money goes into paying off my ip will be taxed at 48.5%?? What can you do to lower that tax rate, is there anything??

    ING bank have a savings account for 4.75% I think maybe that would be better??

    What do you think?

    Profile photo of RENEE2003RENEE2003
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    @renee2003
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    September 22, 2003 - 9:53 am

    No he didn’t he just said I can’t. Stupid me it was my first time to an accountant so I just sat there and listened and didn’t really say much.
    I don’t think he knew what he was talking about.

    Profile photo of RENEE2003RENEE2003
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    @renee2003
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    September 22, 2003 - 9:43 am

    Thanks for that. My accountant told me not to put it into my hoan account and put it into a seperate account but that never made sense to me when I can redraw it in any amount, at any time and with no fee from my current home loan.

    Profile photo of RENEE2003RENEE2003
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    @renee2003
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    September 22, 2003 - 9:22 am

    So if I put money into my ip it wont affect the amount of tax I get back at tax time for the propety??

    Thanks for your help.

    Profile photo of RENEE2003RENEE2003
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    @renee2003
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    September 22, 2003 - 7:04 am

    So can you tell me why it is not a good idea to put my extra money into my ip if I can withdraw it from my account at any time???

    Thanks for your help!

    Profile photo of RENEE2003RENEE2003
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    @renee2003
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    September 22, 2003 - 6:03 am

    I’m sorry but I don’t quite follow, very new to this.

    I owe about 80% on my townhouse at the moment so you say I shouldn’t have to pay LMI??

    Profile photo of RENEE2003RENEE2003
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    @renee2003
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    September 22, 2003 - 4:30 am

    Victoria I think I need some advice from you.

    I am just about to rent out my townhouse which will make a return of around 10% so I will be making a small amount of profit each week. I am going to be renting a house for next to nothing so what should I do with my extra money that I will be making, put it into my investment propety or have a morgage offset account?? I would like to buy another investment propety by the end of the year.

    Thanks

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