I love it

Thanks again @terryw I didn’t realise I was taking myself into a dodgy scheme. Really grateful for the advice before I made any moves. What I think you’re saying if that its pretty suspicious to take out a new loan to pay off interest repayments and claim both the original and the new loans interest as a deduction (without a special change in…[Read more]

Thanks again @terryw I didn’t realise I was taking myself into a dodgy scheme. Really grateful for the advice before I made any moves. What I think you’re saying if that its pretty suspicious to take out a new loan to pay off interest repayments and claim both the original and the new loans interest as a deduction (without a special change in…[Read more]

I’m not sure how that’s possible if it’s for the purpose of paying mortgage interest can you explain?

Thanks @terryw

I have not. That is an interesting point. I plan to use money from the redraw, so would that appear as if I am borrowing money to do It? Would it be wiser just to take regular payments from the redraw, or does it make no difference?

Re the lender, I want to break and refix by dropping the interest in advance then.

Thanks for all the help guys but I feel we are moving further away from the topic.

I already did what you suggested Benny, but thanks for the advice anyway.

What I’m really interested in is, are the break fees claimable? – Which it’s looking like they should be. Thanks @terryw

My comment about the calculations was in response to @ethan

The…[Read more]

Found something compelling on the internet so it must be true

https://www.finder.com.au/refinancing-home-loan-tax-deductions

Thanks Pzardo,

Good to know. Yes, renovation is always about looking out for over capitalising.

Thanks everyone.

Yes, ip staying ip. Fixed interest so easy to calculate. By easy I should say possible.

Anyway thanks for all the replies, looks like I was on the right track.

How about you walk down grey st at 10 pm any night of the week, you’ll find out why really quickly.

Here’s something to begin with but I haven’t done any of it

How to get started in property development

Thanks Benny,

Yes all theoretical for now. Good to know. Thanks for the help everyone.

Hahahha that’s the funniest supplement selection I’ve heard

Buffer account.

That’s the answer to everything. SANF and everything.

I work with peers earning at least $100,000 a year, and when the pay is a day late, which it actually is on time, they’re used to it a day early, anyway, when it’s late by their expectation, the clamber about and huff about bills and other expenses…

Whatever, no matter…[Read more]

Thanks for the replies, but I fear this has become quite confusing to everyone.

It’s not cross Coll because that’s not what I was asking for, what Jamie said makes a lot of sense. Thanks everyone.

Al this and more…

http://www.thepropertycouch.com.au/ep-53-money-smarts-system/

I have looked into it too, even if I could get an interest free $50,000 using your strategy that’s $100,000 of cards, and I couldn’t borrow for another house and in an ING saver I could earn $1500 a year in interest. I don’t think that’s worth it. The damage done…[Read more]

It would depend on your financial situation. Use a borrowing calculator with the limit of cards you intend. Let’s say you want $40,000. That’s probably $150,000 less you can borrow. Then you’d need to get a transfer card, and their lending criteria may be that they don’t like you having $40,000 limit already, and now you’d need another $40,000.…[Read more]