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Search: Posts Made By: Craig Vaughan
Showing results 1 to 25 of 92
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Forum: Australia
Jan 20th 2016, 7:30 pm
Replies: 2
Views: 883
Posted By Craig Vaughan

Re: Investment Property - CGT & Tax question

HI Shaun,
The tax office may treat this as a "business" rather than the mere realization of the land as an asset. Ie, if you just subdivide a block of land and sell it not such a big deal right. One...
Forum: Australia
Jan 10th 2016, 7:11 pm
Replies: 2
Views: 940
Posted By Craig Vaughan

Re: MORTGAGE

Hi there, banks will still lend in this situation. If Australian citizen you will generally needa 10% deposit plus costs. If foreign national (including Australian permanent residents) then you will...
Forum: Australia
Jul 10th 2015, 7:05 pm
Replies: 4
Views: 1,567
Posted By Craig Vaughan

Re: moving to sunshine coast

Anywhere on the Sunshine Coast would be fine from Caloundra to Coolum I guess. Sippy downs area might be a good spot as it provides quick access to the highway north to Gympie, south to north...
Forum: Australia
Mar 1st 2015, 7:06 pm
Replies: 6
Views: 929
Posted By Craig Vaughan

Re: Tax Question on Investment Properties in Australia

That is correct - tax is all about purpose. The purpose of that 40k is to pay off your PPR and therefore not deductible.

However, come to buy your next property, if you borrow funds against you...
Forum: The Barbie
Aug 24th 2014, 7:06 pm
Replies: 12
Views: 934
Posted By Craig Vaughan

Re: Renting house, but concerned about mortgage?

Just checking, you must be talking about a UK Mortgage right?
Forum: Australia
Jun 21st 2014, 8:12 pm
Replies: 6
Views: 1,036
Posted By Craig Vaughan

Re: First Time Buyers Start UP Grant

I was advising on the specific issue of ownership of overseas property and the effect that the same has on first home owners grants and stamp duty concessions.

The remaining requirements for the...
Forum: Australia
Jun 21st 2014, 7:17 pm
Replies: 6
Views: 1,036
Posted By Craig Vaughan

Re: First Time Buyers Start UP Grant

Hi there,
There are 2 first home buyers schemes in play.

1) The first home owners grant in QLD of 15k which you qualify for as the requirement for that grant is that you have not owned property...
Forum: The Barbie
May 2nd 2014, 7:28 pm
Replies: 19
Views: 1,798
Posted By Craig Vaughan

Re: Should the family home be included in the pension assets and income test?

My initial reaction was that it shouldn't be touched, like most here. Thinking about how it would affect my grandparents etc. But thinking about it more from a public policy perspective why should...
Forum: Australia
Jan 19th 2014, 9:18 am
Replies: 37
Views: 4,815
Posted By Craig Vaughan

Re: mortgage deposit

i think the question is pretty clear - i think there is an issue with some lawyers questionaires - ie, ask if first home buyer in australia (for fhog purposes where it doesnt matter if you have owned...
Forum: Australia
Jan 19th 2014, 8:59 am
Replies: 37
Views: 4,815
Posted By Craig Vaughan

Re: mortgage deposit

Its something the solicitors take care of for the purchaser, and i think even the solicitors are not aware of the distinction when helping with that form.
Forum: Australia
Jan 19th 2014, 8:40 am
Replies: 37
Views: 4,815
Posted By Craig Vaughan

Re: mortgage deposit

Hi,
Most people do - most people just dont read the form that clearly.

Remember as well, stamp duty concession only applies for properties less than 500k. if you are buying for more than that...
Forum: Australia
Jan 18th 2014, 7:08 pm
Replies: 63
Views: 24,898
Posted By Craig Vaughan

Re: Living on the Sunshine Coast but work in Brisbane...

i live in Glass house mountains (ie, around Beerwah, Beerburrum etc). 1 hour and 3 minutes from beerburrum station to central station in city by train. Those trains are packed though but many people...
Forum: Australia
Jan 18th 2014, 6:17 pm
Replies: 37
Views: 4,815
Posted By Craig Vaughan

Re: mortgage deposit

20% deposit avoids mortgage insurance. 10% its not too expensive (about 1.5-2% of the purchase price). There is a case to be made for paying a few k in mortgage insurance to get into your home sooner...
Forum: Australia
Dec 14th 2013, 6:02 pm
Replies: 19
Views: 2,954
Posted By Craig Vaughan

Re: Australian mortgage

with that sort of deposit/equity you will find many banks (not all, but many) will be quite lenient here. The risk to them is extremely low. Many will want to see you in your employment for 3 months...
Forum: Australia
Dec 14th 2013, 6:00 pm
Replies: 19
Views: 2,954
Posted By Craig Vaughan

Re: Australian mortgage

Depends on the state re first home buyer allowances, but general rule is need to be an australian PR. if she is, then yes, would qualify for the grants. note though that this would disqualify your...
Forum: Australia
Dec 14th 2013, 9:34 am
Replies: 19
Views: 2,954
Posted By Craig Vaughan

Re: Australian mortgage

The only advantage really if they have plans of renting the property out, or for asset protection purposes. If they are going to rent the property out in the future then having in one name can have...
Forum: Australia
Sep 22nd 2013, 11:24 pm
Replies: 51
Views: 9,400
Posted By Craig Vaughan

Re: Planning to buy home

There is no such requirement in Australia. Lenders mortgage insurance is required for loans over 80% but there is no requirement that you take out personal income protection or life insurance.
...
Forum: Australia
Sep 16th 2013, 1:55 pm
Replies: 51
Views: 9,400
Posted By Craig Vaughan

Re: Planning to buy home

I understand where you are going. But the question is this - if they pay the stamp duty, where are they paying it from? that is the key here - if they pay the stamp duty then they must be paying it...
Forum: Australia
Sep 16th 2013, 11:38 am
Replies: 51
Views: 9,400
Posted By Craig Vaughan

Re: Planning to buy home

Well, its kind of the same right. If the bank is paying the stamp duty then your loan would still be say 90% plus stamp duty (so roughly 94% depending on state you are in). If the bank is not paying...
Forum: Australia
Sep 8th 2013, 4:05 am
Replies: 17
Views: 5,631
Posted By Craig Vaughan

Re: Oz investment property when living in UK

This is the position in Australia. that is, you can carry forward losses so that when you do move back to aus you can write off those losses against your income here.

If you dont intend to move...
Forum: Australia
Aug 30th 2013, 1:54 am
Replies: 8
Views: 1,214
Posted By Craig Vaughan

Re: Making an offer on a house/land

That is right, offer needs to be in writing in QLD. The key point to note is your offer will be subject to finance (make sure it is) which means you are protected anyway.

With that said,...
Forum: Australia
Aug 24th 2013, 1:19 am
Replies: 1
Views: 1,007
Posted By Craig Vaughan

Re: Getting a Home Loan

If you have no policy issues -ie, your application is straight forward (good employment history, clean credit, citizens or permanent residents, min 20% deposit or equity), then suggest no problem....
Forum: Australia
Aug 18th 2013, 3:37 pm
Replies: 51
Views: 9,400
Posted By Craig Vaughan

Re: Planning to buy home

No problems.

You cant really insure your employment. Ie, from a policy perspective, no insurance company is going to insure you properly against losing your job. Certainly, there is insurance...
Forum: Australia
Aug 18th 2013, 1:01 am
Replies: 51
Views: 9,400
Posted By Craig Vaughan

Re: Planning to buy home

I have seen off the plan properties go good and bad for the purchaser. Effectively you are locking in the price today and betting that property prices will increase. If they do, then you will do very...
Forum: Australia
Aug 16th 2013, 1:01 am
Replies: 51
Views: 9,400
Posted By Craig Vaughan

Re: Planning to buy home

NAB do not do fully verified pre-approvals. they will do a pre-approval yes, but the piece of paper you get says "subject to the bank checking your application meets their policy and criteria". A...
Showing results 1 to 25 of 92
 
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