@Marty – I was told by an accountant that withholding as late (May, 2013) as possible is common practice. Having said that, you would get a lump sum Tax bill in May, 2013 of $50k for example then another $50k again due in June, 2013. Bit rough.

@Luke – I bought my IP then went into contracting within 5 months. I asked to top up to renovate for…[Read more]

I thought you could do both given notice – 30, 60, 90 days…

I like having funds available "just in case"So I would use my savings to pay off hecs but increase my IP offset account by approximately the same amount so I have access to this money – even though I may not use it immediately.Does that make sense?

The money would go towards "reno" as I will use savings to repay HECS but have an increase in the offset account for "emergency" purposes, that's all.

For the purposes of this exercise, let's assume that the additional credit on the investment loan is for "renovation" purposes.

I am not in a rush to sell, so why not try to sell it myself and test the market at a fraction of the cost?

No cap gains tax.Terry, yes!Are my figures right and have I missed anything?What would tax be?

I know these can change daily but is there a website where you can check/monitor the wholesale (interest) market swap rates?

That's perfect – thanks a lot!

Hi Michael – any luck?

No worries Michael,5-years for last 12-months.Cheers,Vucko

Hi Michael,Thank you for your help!Fixed 5-years and 3-years; both if possible since beginning of April, 2008 to present.Thanks,Vucko

Yes – ignore the 2-month notice; I was reading the wrong information.Has your family signed an agency agreement with the agent so the agent will look for a replacement tenant? If there is no signed agency agreement the agent is quite happy to take your money until the expiry of the lease.I don't believe they have signed anything but they were just…[Read more]

No argument here, of course; that's why these notices (from boths sides) exist isn't it?!?!Circumstances change for everyone – that's why I'm saying – yes; there should be penalty and accountability but also flexibility if something bad happes.We got a friend to help us look for a place as I was in Perth and parents woring 6-days in Melb sharing w…[Read more]

I'll start with by contacting VCAT and explaining the above.But at this stage we would rather pay a small amount rather then $1500/month.The leasing company just keeps saying nothing they can do and that "winter is a slow time for getting tenants"… terrible!

Wow I didn't know that, Terry?Where can I find out more about that? Or who can I speak to to confirm?Scenario 2: End of May it will no longer be an investment property. What are my options and better tactics then?Cheers

My income should tripple by then if not more, I will be married so two incomes/security, and worst case scenario sell current property.

Richard, e-mail sent. Cheers!

Hi Maggie,Thanks for your reply.Can you please PM me your e-mail address and your details and I will contact you.Cheers.

Located in Perth and own an apartment IP.Thinking about Melboune off-the-plan apartment IP next.PM for msn.