disgruntled ex-partners are a great source of info!

Terryw
Discover Home Loans
North Sydney
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The ATO has various methods of checking up on people, but one of the best is the old human intelligence. ie people dobbing tax cheats in. They have data matching software, but a lot of people fall thru the cracks.

Terryw
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North Sydney
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I think it would apply as she lived in the house originally. Be careful because ‘couples’ are only allowed one main residence between them, since you are only just married it shoud be ok.

I remember reading a tax ruling about this topic (getting married and having 2 PPORs). You could probably find it by doing a search. From memory, you may have 6 months where you could have 2 main residences.

Terryw
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North Sydney
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Scott, i don’t think it is this simple. The ATO wants to tax you on your worldwide income. Some countries have taxation agreements with Australia so that working in those countries won’t result in double taxation.

If Myydral is not required to pay tax in Malaysia, then he or she may have to pay it here.

Terryw
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North Sydney
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There are a few lenders that offer 100% home loans 9ie secured on the one proeprty). The requirements are very strict and mortgage insurance is payable (approx 2.6% of the loan amount!).

You still need a certain amount of savings for all the costs and LMI. Only available for metropolitan areas, good employment record, no high-rise units, etc.

Terryw
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North Sydney
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If it was just a few days late and you paid it in full, there should not be too many problems. You need a GOOD excuse. Saying things were tight financially is not such a good story and the lender may worry that you cannot handle what you have now.

Another veriosn of the story could be that you moved interstate and mail got mixed up etc.

I assume you are trying to increase an existing loan to access equity? If you are just applying for a second loan, there would be no reason that the lender would find out you were actually late.

Terryw
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North Sydney
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My personal preference would be to keep the house and do what Steven suggested, ie borrow against it and use this as 20% deposits.

I have actually done hwat you suggested about selling a house to invest, and I regret it now. Don’t forget all the costs and hassles involved. real estate agents commissions, people comming to look, dealing with lying agents etc. And then when you eventaully purchase a new property, you have to pay stamp duty etc. Lots of costs.

Terryw
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North Sydney
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Hi Luke

You can arrange direct debts on LOCs wihtout any problems. So you can pay the interest ona another loan from this account.

Lenders generally want to see 6 months genuine savings for high LVR loans, but these days there are a few 90% LVR loans that do not require genuine savings. And from memory, there may even be one or two that allow 95% loans wihtout genuine savings.

Terryw
Discover Home Loans
North Sydney
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of course. Everyone has to pay tax. How much will depend on how big the profit is. If the pensioner has no income (but i think the penson is taxable income??), then they can make $6000 profit and pay no tax. This may equate $12,000 profit before the 50% CGT discount is taken off.

Terryw
Discover Home Loans
North Sydney
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Good stuff MH. When I need a loan, I go to MH![]

Terryw
Discover Home Loans
North Sydney
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