 |
Family Help to Buy a Home
Posted by G. Dean McKinnon
on 27 November 2013
With such high rents and property prices, it may difficult to purchase a property, but in some cases your family may be able to help, without having to actually give you any money.
Mortgage Insurance
Most mortgage lenders will offer mortgage-insured products, but usually a minimum deposit of 5% of the property purchase price is required.
An median-price house may cost between $400-$500,000, which means you would need to have saved at least $20-$25,000, plus the mortgage insuran...
| Posted in:Mortgages and Finance | 0 Comments |
Why Consider Optional Benefits for Life Insurance Policies?
Posted by G. Dean McKinnon
on 26 November 2013
Most Life Insurance policies offer Optional Benefits, but how do you choose which ones are likely to benefit you the most, and fit within your budget?
Cost/Benefit Analysis
Usually, Optional Benefits increase the cost of the policy premium, so you need to ensure the options you choose are likely to benefit you.
For example, why would you need Needlestick Injury cover, if you weren't a medical practitioner?
But if you were an active person and enjoyed a lot of physical ac...
| Posted in:Insurance | 0 Comments |
Use GST to Reduce Finance Repayments
Posted by G. Dean McKinnon
on 25 November 2013
It may be possible for your to reduce your Finance Repayments by using the GST you've paid on the vehicle or equipment purchase.
Consider this scenario:
You purchase a new vehicle for $50,000 + GST ($5,000)
You Finance the entire $55,0000 (purchase price, including GST)
You estimate you will receive $5,000 GST refund in the next BAS (the GST you just paid on the vehicle)
You structure the Finance to include a $5,000 payment after the BAS refund is due
...
| Posted in:TaxMortgages and Finance | 0 Comments |
How Do You Find Lost Super?
Posted by G. Dean McKinnon
on 21 November 2013
In some cases, you can obtain details about your lost superannuation policies, and contributions made on your behalf, from the Federal Government.
The federal government, via the ATO, has set-up a website specifically to help you keep an eye on your superannuation investements, including helping you to find your lost super:
Click Here to go to the SuperSeeker Website
The SuperSeeker website will help you to:
Check what contributions have been made to your current ...
| Posted in:Superannuation | 0 Comments |
What is a Lo-Doc Mortgage Loan?
Posted by G. Dean McKinnon
on 20 November 2013
It's a finance-industry term referring to the income evidence required by a lender (mortgage or finance) to prove your ability to repay the loan.
Do You Need to be Earning Income?
Yes. Th common misconception about Lo-Doc loans is that you don't need to be earning income. You need to be earning income, but you may not necessarily have to prove your income.
A standard loan application will ask you to provide proof of your income (e.g. Tax Returns, Company Profit and Loss...
| Posted in:Mortgages and Finance | 0 Comments |
