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TruBlu - Naming of Loan Account

What sets it apart from the rest...

Austral’s TruBlu loan gives you the ability to customise the account title on each loan/card account split under your loan. That is, in place of having a generic account title i.e. “Variable Rate P&I”, you are able to rename each loan/card account split. The account title appears on the following documents:

LinkLoan Online - your online account management system
Settlement Letter
Loan Statements

Benefits:

Here are two examples of how tailoring individual and unique account title/s for each loan/card account split can assist you:

Example 1:
1 Loan with 2 loan accounts, split according to personal/home and investment/business debt. This example allows you to clearly identify the loan account from which redraw is to be drawn depending on the purpose those redrawn funds are to be used. As statements are issued on each loan account split, the interest charged on each loan account is clearly identifiable as either deductible or non deductible for tax purposes

Loan Account No.	Generic Account Title	Example Tailored Account Title
1	Variable Rate P&I	Home Loan - Parramatta
2	Variable Rate Interest Only	Investment Loan - Noosa

Example 2:
1 Loan with 4 loan accounts, split according to notional individual responsibility (legally all borrowers remain jointly and severally liable for the entire debt). With families/friends combining forces to purchase property/investments etc, the use of account splits is a simple and effective method of separating the notional responsibility/liability (i.e. payments, redraws, interest) for each loan accounts.

Loan Account No.	Generic Account Title	Example Tailored Account Title
1	Variable Rate P&I	John Citizen
2	Variable Rate Interest Only	Jane Citizen
3	Line of Credit	Jame Resident
4	Line of Credit	Jill Resident

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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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