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Public Tax Determination

DECEMBER 2008 Public Tax Determination TD2008/27
http://law.ato.gov.au/atolaw/view.htm?locid=TXD (then follow the prompts)

TD 2008/27 has now clarified the position of the deductibility of capitalised interest, at least in general terms. Read more

Wealth Maximiser Investor Assist

The ATO has recently published an edited version of a Private Ruling on its website.

A taxpayer and client of Austral Mortgage, applied for the private ruling to seek confirmation from the ATO that if there was a shortfall between his investment income and his investment outgoings then that shortfall could be capitalised under the home and investment loan & line of credit structure noted in his application. Read more >>

Federal Labor's Low Tax First Home Saver Accounts

A Rudd Labor Government will help aspiring first home buyers save a larger deposit by establishing new, low tax, First Home Saver Accounts. First Home Buyer Read more...

THE UPS and DOWNS of MORTGAGE RATES

A 12 year old asks some insightful questions about mortgage rates and what causes them to rise and fall. A number of factors will cause mortgage rates to increase. Read more...

The best investment loan will always include an interest only period as well as a capitalising line

The best investment loan will always include an interest only period as well as a capitalising line Read more...

What should I be looking for when I refinance my loan?

Want some guidance about the refinance of a mortgage? Here is an article that outlines the critical factors that often drive the refinance of a home loan Read more...

The mortgage calculator has become an important resource tool when purchasing a property

A mortgage calculator will give you a good guide to your purchasing power – generally driven by your income and asset position. Read more...

A good time to consider debt consolidation

Debt consolidation can improve your cash flow... Read more...

The benefits of using a loan calculator when borrowing in Australia

Do you know about the mortgage calculator resource tool? A mortgage calculator ...... Read more...

«
01Public Tax Determination
02Wealth Maximiser Investor Assist
03Federal Labor's Low Tax First Home Saver Accounts
04THE UPS and DOWNS of MORTGAGE RATES
05The best investment loan will always include an interest only period as well as a capitalising line
06What should I be looking for when I refinance my loan?
07The mortgage calculator has become an important resource tool when purchasing a property
08A good time to consider debt consolidation
09The benefits of using a loan calculator when borrowing in Australia
»
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Austral is a member of the Mortgage & Finance Association of Australia (formerly MIAA), the professional body for the mortgage industry.

PH: 02 9299 1833 / FAX: 02 9299 1874

TODAY: Saturday, 4th July, 2009

Private Ruling Authorisation Number 81797 - APRIL 2008
April 2008 Private Ruling Authorisation Number 81797 http://www.ato.gov.au/rba/content.asp?doc=/rba/content/81797.htm Facts: The taxpayer sought to claim as a deduction the capitalised interest on additional borrowings used to meet the shortfall between the rental income on his investment property and the interest, rates and maintenance costs he paid in relation to the property. The taxpayer advised the ATO that he did not want to use his personal income to repay his private home loan debt or reinvest in other income-producing assests.

PUBLIC TAX DETERMINATION DT2008/27
DECEMBER 2008 Public Tax Determination TD2008/27 http://law.ato.gov.au/atolaw/view.htm?locid=TXD (then follow the prompts) TD 2008/27 has now clarified the position for the public generally. The factors that will determine the deductibility of interest are:

My Choice
Austral has recently expanded its product offering through its My Choice loan initiative. My Choice provides borrowers with access to a wide range of lenders and loan products for residential, commercial and equipment finance, so no matter what your need our friendly and experienced staff can assist you.

NAB BOSS TO IGNORE RATE CUTS - APRIL 2009
RESERVE Bank interest rate cuts will no longer have any significant influence on home mortgage rates, a bank chief said yesterday.

WEALTH MAXIMISER - INVESTOR ASSIST UPDATE - JUNE 2008
The ATO has recently published an edited version of a Private Ruling on its website: http://www.ato.gov.au/rba/content.asp?doc=/rba/content/81797.htm A taxpayer and client of Austral Mortgage, applied for the private ruling to seek confirmation from the ATO that if there was a shortfall between his investment income and his investment outgoings then that shortfall could be capitalised under the home and investment loan & line of credit structure noted in his application.

WEALTH MAXIMISER UPDATE - MAY 2008
Ever since the High Court decision in Hart's case, taxpayers have been seeking clarity from the ATO on the deductibility of capitalised interest in certain loan structures. On 16th April 2008 a favourable Private Ruling issued to an Austral client that provides insight into the ATO's current thinking on the subject.

WEALTH MAXIMISER UPDATE - FEBRUARY 2008
Wealth Maximiser Update 12th February 2008 - We have advice from the ATO that it is well advanced on a binding Tax Determination regarding the deductibility of capitalised interest on a line of credit facility. Borrowers with both a home loan and an investment loan should consider including a capitalising line of credit within their loan structure or at least ascertaining from their lender that they could access such a facility by way of a simple variation of their existing mortgage.

Trans Tasman Finance
Did you know that Austral has a wholly owned subsidiary, Gem Home Loans Limited, in Auckland NZ - we are able to assist with organising mortgage finance for you should you be considering buying property in NZ.

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