Thanks Mick! I have since been on the phone to the ATO and yes they explained the 50% discount for owning the place longer than a year. They also said that if it has been rented out longer than the 6 year exempt period, I'm still eligible for a partial exemption, meaning that when I sell I will pay CGT only on the proportion of profit that amount…[Read more]

Thank you both – I have actually consulted the same mortgage broker who set up the finance for my first property and he's told me I can't do this since I don't have 3 months savings history as I only recently returned from some travelling and have just started working again two weeks ago. I just don't want to take no for an answer as I believe…[Read more]

Thanks to you all for the good advice, I appreciate it. Will try to temper my enthusiasm for this particular property and if I can't go ahead with a great deal on the finance as well – c'est la vie I guess!x Sheran

A deck is always good if you can build one! Renters like them…