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Austral Mortgage Broker

Austral Mortgage Group now offers a mortgage broker service which provides borrowers with access to an expanded offering of loan and lease products.

Whether you have a preferred lender or would like a friendly and experienced mortgage broker to check out other residential home or investment loan options for you, or you require a commercial loan, finance for a motor vehicle or plant and equipment, a mortgage broker with the Austral Mortgage Broker team can source the appropriate products, and ensure a smooth and stress-free application process for you.

All Austral Mortgage Broker loan products are part of a new and special initiative which supports CANTEEN, a well known and very worthwhile charity which helps young people living with cancer. By choosing an Austral Mortgage Broker loan product through the CANTEEN programme, for no additional cost or increase in your interest rate, you will be helping CANTEEN raise much-needed funds to help young people during a very tough time in their lives.

Why We Are Different:

Your Austral Mortgage Broker is a salaried employee - not a commission-drivencontractor. This means that, when he/she recommend a product, you can be assured that his/her motivation is to find the best solution to your needs.

Our experience – Your Austral Mortgage Broker will be one of a number of our senior personnel who have been involved with the banking and finance industry individually for over 25 years.

Austral Mortgage is a full member of MFAA (Mortgage and Finance Association of Australia) and COSL (Credit Ombudsman Scheme Limited) and abide by their respective charters. Each My Choice Mortgage Broker is individually accredited with MFAA and as such must participate in the Association's Continuing Professional Development programme.

Because we are mortgage managers as well as mortgage brokers we understand the importance of providing excellent customer service during the initial sales and approval process as well as during the life of the loan and beyond. This unique dual role also means that we can provide a wider choice of solutions to meet your needs. You are able to choose from Austral’s extensive range of managed loan products or from the hundreds of products that an Austral Mortgage Broker can access via our accreditations with Banks and other financial institutions.

Let our friendly and experienced staff give you a helping hand to find the most appropriate funding for your loan or lease requirements – and by doing so, you will be giving a helping hand to others in need in the community – without compromising on choice or price.

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Full Member of MFAA
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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