Not a grey area Ethan.

Under the common law risk passes on the date of contract. This has been modified in a few states so that risk only passes at settlement. The contract is also relevant. I think in QLD the standard contract has the purchaser agreeing to wear the risk. So if you enter into a contract to buy a house and the house is flooded the vendor may be able to insist on settlement.

Don’t you think it would be a good idea to get some proper legal advice about this matter?

Time is ticking…

I have helped two separate Aussies who have purchased in Thailand and Indonesia.

Each had their property ‘stolen’ from them.

The guy in Thailand had a company set up to own the land, someone else forged signatures to transfer the shares in the company to someone else and the company then sold the land to an unsuspecting buyer. This guy has been going through the courts there to get his money back – over $1mil AUD – and has finally won, but it is still ongoing with the recovery of the money.

The guy in Indonesia had something done to him at settlement so that the property was never in his name. He also has been through the courts and finally won, but then had trouble enforcing the judgment. The person had rented it out to the mistress of the police chief etc etc. His legal fees and expenses have cost what he paid for the unit.

My advise would be to make money in Australia and then spend it overseas by renting.

No.

If you mean tax agent then they advise on commonwealth legislation.

Ignore what the bank is suggesting they will make things worse.

You need to pay off the loan and reborrow.

I am not sure I understand that.

have $53,000 been borrowed by slitting the $220k loan and into 2 with the $53k split being paid into an offset?

If so simply pay back hte $53k loan and reborrow again at the time you wish to invest. Pay directly from the loan account or set up a new offset account empty of funds add transfer the borrowed money there temporarily to pay out to the investment. Make sure paying the $53k back doesn’t close the loan. If it does you should pay it back less a small amount and then claim 99% of the interest.

ANZ are good with substitution of security and St G should be too..

Might be better to incur the lmi on the investment loan for tax reasons. But it could work out cheaper for it to be incurred on both loans at a lower lvr.

Could be depending on. The situation.

I should say the unit trust is just one option out of many potential. There may be better alternatives.