All Topics / Help Needed! / What to do with your tax return???

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  • Profile photo of A MitchellA Mitchell
    Participant
    @a-mitchell
    Join Date: 2009
    Post Count: 18
    June 1, 2009 - 11:12 pm

    I have three investment properties, two are IO and the third has been purchased using the FHOG but will be tenanted for the next 11 months. This property is 50/50 IO and P&I (which is fixed) I have $10K from FTB and tax return. Which property do I pay down. I thought the P&I of the 3rd property, but does any one have any differing advice. Thanks

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    June 2, 2009 - 6:46 am

    You would not pay principal off any of them but deposit the funds in a 100% offset account linked to one of the properties.

    If you have got an offset account then look to refinance to a product that does have.

    Richard Taylor | Australia's leading private lender

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