[?]Do I have to settle, this financial year to pre-pay interest for next year ? I have this problem where by, settlement may not occur within the next two weeks. Does this mean I will miss out on the opportunity to pre-pay my interest ? or are these two events independent ?
For example do I just have to borrow the money this financial year and then pre-pay the interest before I settle possibly next financial year in 3 weeks time ? Solicitor says they may not be able to settle as it takes 14 days to do the searches. I am running boarder line here.
If I cant pre-pay I will loose $6000 in tax refunds against this years income.
Urgently seeking Advice.
Thanks,
DaveDave
You need to settle within this financial year.
Regards
Mark
Mark thanx. Gees that was a quick response. One can see how this property thing can become an obsession. People on all hours of the night.
cheers.
I think you also need to have a tenant in place as well. Otherwise, there is no income to offset your expense. But check with your accountant.
I don’t think you would need a tenant in place as long as you had the property up for rent. ie you were trying to find a tenant.
Terryw
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As Trueblue and Terry said, the property needs to be up for rent. A sign in the yard indicating the property is available for rent would seem a good course of action, and perhaps a photograph of it in place, dated.
This still relates to the property settling this financial year.
Regards
Mark
Thanks People. I put an add in the Brisbane TradingPost yesterday, so I guess thats proof enough ? Even though I aint purchased it yet.
And may not even get to the way the bank is going on about it. I have signed the contract of purchase though so i could be in deep SH_TWell I guess when u pay $229K for a 1 bed unit with study and the selling agent says u could get $250 a week, the bank is likely to raise eybrows. That said I have seen others advertised for that and it is brand new and close to the CBD.
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