Chattaway started the topic If IP Loan interest is tax deductible… in the forum Help Needed! 9 years ago
Hello,
I’ve been researching and improving my knowledge in regards to investing for about three months reading many books however there is one thing that has consistently confused me. I understand that interest on a loan that is borrowed for income purposes is tax deductible but why does it never seem to me to be factored into the working…[Read more]
Chattaway replied to the topic 6 Year rule in the forum Help Needed! 9 years, 1 month ago
hi guys,
thanks for your help. It seems that I may need to speak to an accountant in regards to the original loan remaining in place. The reason I asked the question is that it does feel somewhat like I want my cake and I want to eat it too.
My exact situation is that I’m buying a property and not long after settlement i’m moving away for work…[Read more]
Chattaway started the topic Completing calculations in the forum Finance 9 years, 1 month ago
Hello,
When trying to work out calculations on the potential of a property (I currently have none but aim to change this!), I have been basing my interest payments based off of 4.5% as a broker advised that would be a good estimate for me to work off based off of current products. I just want to see whether in your opinion this is a good…[Read more]
Chattaway started the topic 6 Year rule in the forum Help Needed! 9 years, 1 month ago
Hi guys. Just a quick question if I could. If you move out of your home and move away for work I understand that your loan can remain owner occupied whilst renting the property out. This of course is dependent on ensuring that you are not away for a period of 6 years in total. If I was to do this and got tenants in the property can I then claim…[Read more]
Chattaway started the topic Stamp duty in the forum Legal & Accounting 9 years, 2 months ago
Hello,
I am wondering wether this is true. I have heard that in SA stamp duty is calculated off of the purchase price and not the value. Is this correct as I am running figures on a favourable purchase. Thanks
Chattaway replied to the topic Is this possible? in the forum Legal & Accounting 9 years, 2 months ago
Ok, from what I’ve investigated it seems that if you buy a property and immediately rent it out then it can’t be considered your por. if she could she would buy the property without tenants already in, even for one week and put herself in a position where she can demonstrate she has lived there or there is an intention to live there. Alas, she is…[Read more]
Chattaway started the topic Is this possible? in the forum Legal & Accounting 9 years, 2 months ago
Hello, firstly I appreciate any advice you could give me on this matter.
My gf wants to buy a house she is renting off of her parents. She wants to buy it as her principal place of residence. She is however being relocated because of her work and will not be in a position to buy it until after she has already moved. Will she be able to buy whilst…[Read more]
Chattaway started the topic Favourable Purchase plus more in the forum Help Needed! 9 years, 2 months ago
Hello,
My girlfriend has been offered the opportunity to buy her parents property for $405,000 which she is going to go ahead with. I have a couple of questions as I am unsure of the legalities. She is going to go to an accountant but she hoped that she may get some useful advice here also. We both could buy the property and have our names on the…[Read more]
Chattaway became a registered member 9 years, 3 months ago