Yes, but unlikely they will consider.

Whatever you can make the most money on with the least risk and effort is the way to go.

Wow, rent money is held on trust for you until released. Don’t believe the sick story (it may or may not be true) but demand they give proper account for the money held and complain to the relevant department in the state they are located in. They could easily lose their licence over this. However if they are dying from cancer they won’t care about this and the risk of being prosecuted may not be a worry. Maybe time to change agents too.

I think you shouldn’t be taking tax advice from either a mortgage broker or a banker.

Cancel the redraw and Borrow against the equity in the IP as as a separate split, using this for the deposit on the new PPOR.
2 benefits
1) no contaminating of the loan
2) avoids cross collateralising securities

sheridan & trish, this sounds like a risky strategy to me. Also doesn’t really make financial sense as your loan payments now would be very low whereas if you are renting at $400 pw you would need to earn much more money to be able to afford to pay this. Plus you lose the main residence CGT exemption.

Why not just borrow against the equity? Or if you want to change have you considered selling this and buying a new place and then acccessing the equity in this to invest.

make sure the wording of the consent order exludes this.

However, It could still be possible if you make promises or she is able to get a new interest in the property – by helping you pay hte mortgage, renovate etc.

There is an example in the law see
http://www.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s118.145.html

Example: You live in a house for 3 years. You are posted overseas for 5 years and you rent it out during your absence. On your return you move back into it for 2 years. You are then posted overseas again for 4 years (again renting it out), at the end of which you sell the house.

You have not treated any other dwelling as your main residence during your absences.

You may choose to continue to treat the house as your main residence during both absences because each absence is less than 6 years.

You can make this choice when preparing your income tax return for the income year in which you sold the house.

Not sure what Adam is saying here, but you only get one main residence exemption at any one time, but you could have a potential exemption between 2 or more properties if both had been the main residence. The election to claim one as the main residence is only made in the tax return of the year of sale.

jasedc5r’s property would probably be totally exempt from CGT if it was the main residence from the date of settlement and he has been absent for less than 6 years and it is less than 2 hectares in size and it was not used to produce income while living there. Having 1 or more other properties won’t effect this.

Prob not a good idea to sell a main residence only buy further property. You would lose the only CGT exempt asset and would have to pay rent on the new home with after tax dollars.

The rules of law in countries such as Indonesia doesn’t operate like Australia. I went to Jakarta a few years ago to help someone who had their property stolen. Similar in Thailand, I know a peron who had their property stolen – forged papers. He has been going through the courts for 12 years to get it back.