Yes and yes

Hermelinda

You should seek legal advice. There could be some tax advantages re the insurance proceeds under s102AG Tax Act. I haven't looked into this, but know this section mentions insurance. Certain income from a trust established under a will can be classed as 'excepted trust income'. These trusts can be set up post death too. If you can get the benefit your children may be able to earn up to $20,400 pa and pay no tax. You may not have any now, but think ahead a few years. There could be some very beneficial strategies.

You are crazy

Go and see a lawyer asap. The caveat should be in the contract, if not then a copy can be obtained easily by finding the dealing number of the title search and requesting a copy at the land titles office.

If it is a family law type caveat or money lent etc be prepared for this property not to settle.

  Sleep at work

These days no one uses internet explorer. You are so old fashion Richard.

I wouldn't worry about your PPOR loan too much. $50,000 at 6% pa is only $3,000 in interest. Just keep utilising the offset account – all rents and incomes in there. Do you have one?

Take the opportunity now to uncross your loans as well and look at extending a LOC on your main residence. It could be possible to borrow from this to pay the expenses on your IP and keep your cash in your offset to pay off the PPOR loan quicker – but discuss with your tax advisor as the ATO are looking into this now.

A

 better deal as in this one?

1. You could negotiate better terms for yourself.

or

2. Invest into another venture. But you have to understand that it is extremely dangerous to invest in a private company – you essentially have no security.

Be very careful how you proceed.

I have a client currently being sued over a deal, similar in some ways, that didn't proceed. They have joined his wife in proceedings as she attended some meetings. The intention of both parties was to set up a company for trading and owning stock, but they are suing my clients in their personal capacity. Wife was joined as she is the one with the assets.

jhogan. Too late I'm afraid.

Did you have any other funds in the account the borrowed money went into? Domjan's case is the authority that the interest won't be deductible in this case…