Yes, it would be possible, depending on the value and location etc.

But still not so easy. If you were working and had good income etc and both properties were taken as security and the LVR was less than 70% and your dad got independant legal advice then a private lender may lend to you. Probably not an institutional lender though.

Have you cross collateralised the loans?

Best way would be to set up a new loan on each property and use that as deposit. What LVR are they at atm?

If the property is available for rent then all costs would generally be deductible

John

Do you realise you can change names on title in VIC (between spouses) without stamp duty? (maybe just $50 nominal).

For CGT absence from main residence see s118-145 ITAA 1997. You can be absent for up to 6 years as still claim it as your main residence.

Thats not a legal question. Foreign investors still are restricted in what they can buy. I don't know if its too easy or not – its not something I have thought about before. There are certainly a hell of a lot of Chinese buying off the plan apartments at the moment. Not sure this is a good investment though so they will probably lose money – which would be good for the Australian economy!!??

If you had the property available for rent but couldn't find a tenant you may be able to claim the full deductions.

Not sure what you are getting at in your last paragraph.

If you are absent from your main residence you can rent it out and still claim it as your main residence and it could be CGT free for renting it for up to 6 years. If you are not renting it out or earning income from it it could be CGT indefinitely. But you can only count one house as your main residence at any one time (except for a 6 month cross over period when buying/selling).

And ANZ have increased their variable rates!!!!!!!

No appointor is a serious issue. You will have to read the trust deed and see if the trustee has the power to amend the deed to be able to add an appointor (probably will).

Make sure you have back up appointors on all your trusts too. What happens if the appointor dies. This is important because it could be the executor of your will if you do not name anyone – and this could end up being someone you don't want.

If you are buying properties to demolish you need to be buying at almost land value only. – probably. Demolishing a house can cost up to $30k plus when you remove the house the big drop in value.

This is clearly wrong advice – legally anyway. Unless the $55k was borrowed and used for the property.

But if you are audited the ATO may not dig too deep or too far back so you may get around it.