Maruco

I don’t think there is much you can do. Just don’t use them next time and put it down to experience.

You shouldn’t be asking solicitors for estimates of repairs etc. You should work this out yourself and instruct your conveyancer on what they should do. Saves time, money and you can be sure of the estimate if you get it yourself.

Terryw
Discover Home Loans
North Sydney
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If it will be negatively geared, having the title in the name of the highest income earner will save tax initially. But this will end up costing you more when the place becomes positively geared. Also you may end up paying more CGT if you sell too.

Have a look at setting up a trust.

Terryw
Discover Home Loans
North Sydney
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I am currently in Japan, looking at the situation here. I think it will be very difficult to get finance here unless you are working here. I imagine this would be similar in most countries. The lenders will want to know how you can fund the loan if you can’t get tenants. Not having income in the same country as the loan will seem risky to them.

Terryw
Discover Home Loans
North Sydney
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I had one of those recently. Client ordered their own valuation which come in over the price they eventually agreed upon. They then applied for finance with the bank ordering the valuation with the exact same company. The valuation this time came in much lower than before at contract price.

Terryw
Discover Home Loans
North Sydney
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Look at setting up a trust. that way you will be able to change distributions of income each year, if necessary.

Terryw
Discover Home Loans
North Sydney
[email protected]

JP

Thats something to ask your accountant, but I would suspect you could claim it, depending on how long ago your loan was taken out.

Terryw
Discover Home Loans
North Sydney
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I think I have read somewhere that the CGT exemption can be lost completely if the home was used for income producing purposes, whether claimed or not, no matter what percentage of the property was used.

Terryw
Discover Home Loans
North Sydney
[email protected]

Before switching to finance, I spent 6 years in the Aust Federal Police. I was an Austrac ‘expert’ and read suspicous transaction reports daily. These are reports usually filed by banktellors, or foreign exchange office staff. They can report anything suspicious, like a customer sending money overseas and looking very nervous; someone coming in with $9800 each week to deposit etc (thinking they will not be reported).

This has nothing to do with loans, usually. But a mortgage broker, or bank officer etc could submit a suspect transaction report if htey were suspicous of the identity, or other of the client.

Terryw
Discover Home Loans
North Sydney
[email protected]