what are the differences in rates?

NAB are extremely frustrating to deal with.

The agent is not making any money out of chasing a a tenant like this – approach directly.

Brokers don’t value properties, but qualified valuers do. Most people over estimate what they think the property is worth so have a realistic expectation. If you think it is low do you have addresses of comparable properties in the area that have been sold and have settled/? If so you could challenge the valuer.

You might also consider asking your broker to order another valuation through a different bank’s valuer and if this comes in higher consider refinancing.

Pete

Not my area but you are looking at $5k to 10k depending on how complex.

Diy you will still need to pay lots of legal advice and amendments as it will be full of holes. Also each party needs a solicitor to explain it. The other side solicitor will also request amendments too.

I think you should seeks professional help with such a set up. You need to speak to a lawyer who understands tax and a broker and you might want to consider several structures

If a trustee owns the land Mr C cannot negative gear it.

If A and B are borrowing money to lend the trust they will have interest which isn’t deductible unless the trust is paying market rate interest and terms.

The borrower will usually be the owner of the land which would be the trustee of the unit trust. Directors of the trustee and perhaps the unilt holders will need to guarantee the loan. Liability is on the borrower and the guarantors – that is why you want to minimise guarantees.

You could speak to Brett Davies over in Perth about this sort of thing.

Borrow against the existing property a d separately borrow against the new prooerty

Your other property is irrelevant for this transaction unless you are claiming that as the main residence.

Yes you will need to pay CGT if there has been a gain.

It seems you have owned it 3 years but rented it for one year, work out the cost base of the property – include expenses while living there such as interest, rates etc (third element of the cost base).

Then multiply this by 1/3.

Then this number by 50% (as you have owned more than 12 months).

This figure is then added to your other income and you will pay tax on it at your marginal tax rate.

It may come out to be nil or very low depending on the situation.

You might want to get a valuation each (ie. 2) as the one ordering it may benefit more than the other.

Also seek tax advice from a lawyer too as it may work out better not to transfer due to a break down of a relationship, because there are CGT and income tax disadvantages.

I think generally avoid it if you can, especially for the main residence loan.

But it depends on your circumstances. Seek specific advice from a broker.

The trust bank account can transfer the deposit directly to the agents trust account for the purchase.

Money from the trust should not touch your personal bank account for a variety of reasons – but if it did that doesn’t mean it is income and tax is payable on it.