Category «Rental Property – Loans»

Disposal of property with subsequest reduction of loans

Question I have 3 loans with one bank. Loan 1 = PPOR with balance 1.431 mil. Loan 2 = $408K which is the total of 3 refinanced investment property loans against 3 properties. Loan 3 = Line of Credit with limit of $492K and $370K drawn with a 70% private use component.I have disposed of …

Interest deduction on redraw loan

Question My husband and I have lived in our own home for 4 years, taking out the original loan with no thought of renting it out at any time in the future. However, we have now decided to rent our home as we are leaving the area, with the possibility of returning in a few …

Selling Principal Place of Residence to Hybrid Trust

Question My wife and I currently own a house which is our principal place of residence. We purchased the property in 2001.We are constructing a new home and are planning to move into the property when it is completed. This property is also in joint names.We are considering keeping the existing house as an investment …

interest

Question We have two properties that were bought in my wife’s and sister in law’s names as tenants in common 50/50. I being the higher income earner stayed out of it as the intent was to build and sell short term. Building has taken a little longer than anticipated and we might hold on a …

Withdraw redraw and put into offset?

Question We are about to turn our unit, that we have lived in for 5 years, into an investment property and we are going to rent a property to live in ourselves. We have about $20 000 in redraw on our loan and want to eventually access that for a deposit on a house(for private …