Well finally the ATO has ruled on this, so what does every body think the impact this will have on the investing market.
Not Much. I dont think many were doing it and those that were or wanted too probably, were waiting to see what the ruling in the courts would be.
So I dont see any effect on the property market.
I agree with Yack on this, not many were using it though a lot of the “Sales Teams ” used to promote it.
Most good accountants were waiting for this, and some returns will need amending, but think it will be a minor ripple.
I think the problem is begger than you thing, some mortgage brokers are not happy which tells me the effect is greater than we think?
I think the brokers who were actively marketing it on the basis of a possible high court decision will be the ones most upset about it.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
sounded too good to be true from the outset. the ATO had their noses out of joint from the word go which is why I held back… seemed a bit risky given the ATO had flagged their discontent with it. I have to admit I can’t see any major repercussions form this – just business as usual really.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Guys
Why not accept the decision and move on.
The world is full of new opportunities and Split loans where just one of them.Cheers Richard
richard at fhog.com.au
http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
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