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TruBlu - Global Redraw Limit Facility

What sets it apart from the rest...

What is it?

Under a global redraw limit loan, redraw does not need to be restricted to specific loan accounts. That is, redraw available under the loan can be drawn from any loan account with available limit of at least the redraw amount.

History:

Historically under a split or multi account loan structure, redraw is accumulated in the account where the additional payments are made. If for example there is a non-deductible split/loan account (say Account 1) and a tax deductible split/loan account (say Account 2) then most borrowers would choose to make any additional payments to Account 1 i.e. the non-deductible split. Hence, redraw would accumulate and reside in Account 1.

If funds were required for business/investment purposes and funds were redrawn from the account where the additional payments were made i.e. Account 1, the result would be the mixture of deductible debt and non deductible debt. Considerable effort and expense may be incurred to calculate the split between tax deductible interest and non tax deductible interest.

Now

With Global Redraw Limit you have the ability to directly redraw funds from any loan account. That is, in the example above you are able to direct all additional payments to Account 1 and benefit from the reduced interest charge as the outstanding balance is reduced and conveniently redraw directly from Account 2 where the purpose of the funds are for business/investment purposes.

Benefits

	$0 fee and no interest rate loading for this global redraw limit facility or for any redraw made under this arrangement using LinkLoan Online
	Maximum redraw flexibility
	Empowers you on multi account/split loan structure to redraw available funds from appropriate loan accounts i.e. purpose based redraw
	Powerful wealth creation/tax advantageous structuring feature
	Seamless process for redrawing funds between loan accounts => your convenience

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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: Thursday, 20th November, 2008

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.

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.

Austral in the Community
Austral Mortgage has been a Principal Sponsor of the Winston Hills Little Athletics Club since October 2006. We are proud to be supporting this community project and congratulate the young athletes of WHLA for their commitment to and successes in the sport.

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.

AusComm Finance
AusComm is the specialist Construction and Development division of Austral Mortgage - if you are a developer seeking finance for construction purposes - residential, commercial, retail, industrial - give Peter McAuley a call on 0419 220 630 or email him peter.mcauley@australmortgage.com to discuss your funding requirements.

Mortgage Calculator
A number of excellent resource tools are now available on the internet for people in Australia seeking a loan to finance the purchase of a property or refinance an existing mortgage. One of the most useful and user friendly tools is a mortgage calculator. Before going too far in the purchase and /or borrowing process it is a worthwhile exercise to quickly gauge your borrowing capacity and also determine how your new mortgage repayments will impact on your personal cash flow. Mortgage calculator...

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