Thank you very much for the clarification.
Very much appreciate the information thats been provided.

Regards
AM

One last thing – what are the thoughts around this

– If you sell the old home within 6 months of purchasing the new home – both properties are covered by the main residence exemption;

In my case, if I sell the Melbourne property within 6 months of the purchase of Brisbane property then:
1) Melbourne property sale proceeds will be CGT exempt
2) W…[Read more]

One last thing – what are the thoughts around this

– If you sell the old home within 6 months of purchasing the new home – both properties are covered by the main residence exemption;

In my case, if I sell the Melbourne property within 6 months of the Brisbane property then:
1) Melbourne property sale proceeds will be CGT exempt
2) When I do d…[Read more]

Thanks Terry. You have been very helpful and informative.

AM

I understand. So in summary:

1) When I sell the Melbourne property within the 6 year period, the sale event will be CGT exempt.
2) The new PPOR in Brisbane will be subject to CGT (if and when i decide to sell it).

What if, after a couple of years of selling the Melbourne property (for which the sale was CGT exempt), I decide to do the…[Read more]

So I decide to sell the Melbourne Property and nomianate that property as my PPOR. the sale proceeds will be CGT exempt.

What if, after 2 years, I decide to sell my Brisbane Property that I’m currenytly residing in. Will the sale of the Brisbane Property be subject to CGT?

Thanks
AM

Thanks Terry.

So, I’m currently living in Brisbane. Thats my current PPOR.

With the my former PPOR, now IP, I need clarity on the following:

1) Can I claim tax deductions for the expenses incurred for the Melbourne Property Rental?
2) In the event that I do decide to sell the Melbourne Property, will I be paying CGT?

Many thanks
AM

Hi All,
What about the Bayside Suburbs in Brisbane? Cleveland, Victoria Point, Wynnum, etc.
It seems that these areas have a good rental yield…. > 5%.

Considering that I am based in Melbourne and am not that familiar with Brisbane Property Market, I’m seeking advice if these areas are worth investing in?

Feedback on this will be greatly…[Read more]

Thank you superAndrew for the response and the details provided.
I will surely use the tool that you have provided and also look into doing the legwork to gain an understanding

Thanks heaps for the advice.
Much appreciated.

Jate,

I could not agree more.

I would like to reduce the LOC secured against the PPOR and continue to use only the LOC secured against the IPs..

The problem that I'm facing is that the there is not enough Equity built up in the IPs to get a LOC and use the funds in the LOC to pay down the PPOR LOC.

Perhaps, its just the market…[Read more]

No particular reason. My guess is that freeing up the PPOR LOC with the IP LOC will have 2 benefits:

Can use the PPOR LOC for another IP pruchase – IP 2.

Have Cash flows of the IP 1 (rent and Loan Repayments) come out of IP 1 LOC.

No. PPOR LOC does not have a high rate …

Thanks

Terryw wrote:
You will have to be very careful as the ATO could deny deductibility.have you seen TD 2011/D8http://law.ato.gov.au/atolaw/view.htm?docid=%22DXT%2FTD2011D8%2FNAT%2FATO%2F00001%22

Thanks Terry. I will forward this ruling to my accountant.However, I think what I'm trying to get at is:If the IP IO Loan Repayments are coming out of LOC…[Read more]

Terryw wrote:
What is your reason for using the LOC to pay interest on your investment loan?

Cash Flow Management for one, offset to reduce repayments in to the PPOR. Also, if not from LOC, then from where should the IP repayments come out ?Thanks

Terryw wrote:
Do you mean you are taking the IP repayments from the LOC?Have you had advice on this or taken out a private ruling?If you keep going the limit will be hit on the LOC, then you will hopefully have paid down your PPOR loan by an equal or higher amount and may be able to get a new LOC or increase the existing one.

yes thats correct.…[Read more]