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Question I am looking to refinance my 2 investment properties.#1 – in both names and current LVR approx 30%#2 – in my name only and current LVR is 100%.Am looking to split the #1 loan or use LOC and use the funds to bring the #2 loan down to below 80% for Mortgage Insurance etc. …
Question Hi Juliahave your book and subscribe to the bantacs newsletter, and have read everything in the online property section. They are fantastic information sources.All this reading has scared me away from the two words "split loans". So my question with respect to my situation below, can a split loans exist, that does not have …
Question Hi Julia,I am currently living in my owner occupied home and I have several split loans against it which were used as a 20% deposit to purchase an investmentproperty and 2 more splits to fund the construction of an investment property. I claim tax deductions on these splits as the purpose of these loans …
Question Am currently refinancing loan currently in name ofcompany atf Trust. debt 157K.Propose to set up 2 loans:1- L.O.C under own name : secured IP 300K2- Trust(current one) : secured IP 165KThe 157K debt will be allocated aprox as follows:In trust loan- 130K : In L.O.C loan- 27KQ: Can the trust claim tax deductability for …
Question Hi,My wife and I own 2 properties as Joint Tenants. Property A (our Primary Place of Residence – a unit) has no loan owing. Property B (a green title house) was bought with the intent of being an investment property and has been rented from the outset for the last 18 months with an …
Question Hi Julia,My wife and I are interested in the following strategy; purchasing a rental property and capitalising the investment loan interest, so that we can use the net rent to pay down our non-deductible home loan at a faster rate. This obviously means that the balance owing on the investment loan will increase substantially …
Question What are the tax implications of using redraw monies from a principle place of residence loan to secure an investment property as a contract deposit and then using the proceeds from the investment property loan to reimburse the principle place of residence loan?I remember reading a caution emphasising the need to keep both loans …
Question Is it legal to debt recycle in order to pay off a PPOR? I have several IP’s (+ geared)with small mortgages. Can I direct their rental income into my PPOR mortgage (which is quite large) and at the same time capitalise the interest on the loans of the IP’s? The object of course being …
Question Could you please advise which version of the updates (back-copy) deals with the above topic? Answer Newsflash 187Deductibility of Break Costs To Pay A Loan Out EarlyIf you are breaking the loan to sell the property but it has not been income producing the penalty interest is included in the cost base under the …
Question Hi JuliaNoel Whittaker suggested I contact you.My husband and I bought an investment property in Toowoomba, Feb 2008. Interest rates on way up, so took out fixed P&I loan at 8.29% over 4 years. F/nightly repayments of $725. Loan balance now $183K. Tenanted at $220 per week till July 2009 (tenant often in arrears). …
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