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  • Profile photo of Tammy WTammy W
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    @tammy-w
    Join Date: 2011
    Post Count: 4
    July 21, 2011 - 2:15 am

    Thanks Terry, appreciate your time.

    Regards
    Tammy

    Profile photo of Tammy WTammy W
    Member
    @tammy-w
    Join Date: 2011
    Post Count: 4
    July 21, 2011 - 1:45 am

    Thanks Terry, I knew that there would be a way and you have just confirmed to me that I need to seek professional advice as I thought. You get what you pay for – aint that the truth!

    I have yet to set up the trust bank account, so would I do this asap then transfer the deposit $$ into trust account?

    I guess I am asking how to onloan to the trust to then claim the interest?

    Profile photo of Tammy WTammy W
    Member
    @tammy-w
    Join Date: 2011
    Post Count: 4
    July 21, 2011 - 1:28 am

    I guess up until now we were not playing with the big boys so H&R worked ok for us! (cost wise).

    In regards to how long the property will neg gear I am not sure, as we did not think this would be happen.

    Thats the problem. We thought both loans would be in trust and the rent would cancel one mortgage repayment and the deposit loan would assist in reducing our taxable income and able to claim expenses such as stamp duty, renovations, trust set-up, LMI.

    With the expenses in the trust being 25k reno + 17k stamp duty – we would be at a 41k loss before we start receiving rent!

Viewing 3 posts - 1 through 3 (of 3 total)