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[Video] Can I Get a Home Loan While on Maternity Leave?
These days, most lenders have maternity/parental leave in their policy so the answer is YES, they can consider your application.
To get a home loan, you will need to get a RETURN-TO-WORK letter from your employer (if you work as PAYG employee) detailing the following information:
– Your name
– Your occupation
– Start date of employment
– Current employment type e.g. Full time/Part time permanent
– Current salary (Gross, Net, Superannuation)
– Start date of maternity or parental leave
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What Is Land Tax?
Land tax is an annual tax levied at the end of the calendar year on property you own that is above the land tax threshold.
Your principal place of residence is exempt from land tax, and other exemptions and concessions may apply.
We will discuss Land Tax as it applies in NSW but the concepts are largely similar across all of Australia’s other states.
You may have to pay land tax if you own, or jointly own:
– vacant land, including rural land
– land where a house, residential unit or flat has been built for investment purposes
– a holiday home
– an investment property or properties
– company title units
– residential, commercial or industrial units, including car spaces
– commercial properties, including factories, shops and warehouses
– land leased from state or local government
[Video] How To Use Your Equity To Buy Investment Property
Using the savings in the offset account associated with your home loan to fund your new purchase will cause you to pay more interest on your home loan which is not tax deductible.
This blog post will show you how to use the equity or ownership stake you’ve accumulated in your home to invest in more property in a tax effective manner.
So, what Is equity? Equity refers to the difference between your home’s current value and the outstanding amount you owe the bank.
This is the amount you own outright of your property
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[Video] Why You Should Get an Investment Property Depreciation Schedule
An investment property depreciation schedule is among the most beneficial but underused tools available for property investors to maximise their tax returns. All property investors want to pay less tax, yet 70% of investors don’t benefit from tax depreciation deductions because they don’t order an investment property depreciation schedule.
The video in this post has our Lead Mortgage Broker, Liz Zaki discusses the issue with Tuan Duong from Duo Tax, Australia’s most reviewed and highly-rated Quantity Surveyors.
We will guide you through what you need to know about ordering an investment property depreciation schedule including a brief introduction to property tax depreciation, the benefits of a tax depreciation schedule, what it includes as well as how you can get your hands on one.
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[Video] How the Interest Rate Increase Will Affect Your Repayments – Nov 2023
The RBA board on Tuesday decided to hike its cash rate 25 basis points to 4.35%, a 12-year high. The increase, widely anticipated by economists, was the central bank’s 13th rate rise since May 2022.
New governor Michele Bullock and the board had lately sent repeated signals they were poised to resume rate rises if inflation didn’t slow as expected. The RBA remains ready to hoist interest rates again if required, she said in an accompanying statement.
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Are you a Mortgage Prisoner? How to Refinance Your Mortgage
Are you one of the many borrowers feeling trapped in a mortgage with an interest rate higher than the current market rate? Are you looking to refinance your mortgage? You’re not alone. Many borrowers find themselves locked into home loans that prevent them from taking advantage of better rates offered by other lenders.
Well, there’s good news on the horizon! In this blog post, we’ll look at the refinance process and potentially save you money on your new mortgage. Read on to discover how you may be able to escape the clutches of high interest rates to refinance your mortgage and secure a better deal for yourself.
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