You possibly could claim it as your PPOR, but only if you have not claimed any other property as your PPOR at the same time. Otherwise, you probably would be up for CGT.

Better run this one by your accountant.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

There are plenty of people out there unable to get finance. Having minor defaults on your CRAA can mean you need a larger deposit (and larger interest rates), many people do not have this. Even if they had the 10% deposit, some low docs have rates higher than a wrap would be. eg GE is nearly 11% pa. most wraps are around 9%, and this is with a lower deposit.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

redwing

I don`t think you can pay yourself. Even if youcould, it would work out the same. If you were using a company or a trust, then you could. Dependning how you do it, it may or may not be worth it from a tax angle. Same with borrowing capacity. If you pay yourself, your company will have less profit, but overall it would be the same between both of you.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

I recently read a book by Brad Sugars who suggests you make your money in business and hold it in property. I tend to agree, it just takes too long to make passive income from property, but it is a nice and stable investment, so good for holding your wealth.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

You may not have to transfer your own home to protect it, there are other ways such as mortgaging it. Your accountant shoukd be able to fill you in.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Maybe try to get the appointor changed to be both of you (don,t know if this would be possible)

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

If the trust cant afford it you will have to either gift or lend it money. If you take from your LOC, you may at least be able to claim the interest.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Do a search here, there was a (heated) debate on this topic a few months ago- maybe 6.

basically, if you have equity, then you can get loans, so as long as your portfolio is growing faster than you can spend it you will be ok.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

It is probably not worth claiming a few thousand dollars now if you are going to lose the CGT free status of your home. Thnk carefully before doing this.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

I think an agent pocketing money from a trust account is a serious matter, and probably something they wouldnt do for just $41.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.