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Thanks Mr501 and KCM for your comments.
Just so I can be clear, I thought you could only negative gear a loan on a property if the loan is for investment purposes at the outset (has to do with intent at time loan is taken) and the property is likely to make a positive return at some time in the future. I did not think you could negative gear the loan on your PPOR (I think acronym for principal place of residence ie your family home? sorry if i'm a bit behind the lingo) – even if you move out and then rent it out later on. To keep it simple, let's assume there is no second property bought and he has not altered the loan at all, you just now own one house and are renting it out, after previously using it as your family home.
Hope i'm being clear
Chears Terry
I have a similar question, a friend of mine moved out of his principal place of residence and moved into a new house. He has been negative gearing the first property since moving out. I said this is not right and he maybget hit by the ATO if he gets audited. Can som on let me know what the go is here?
No, I was hoping to get my head around the variables of what makesa good investment, where they are, some sales data etc?
