answered
Q: Home Loan News
Westpac Bank has announced an increase of 0.14% to all their variable home loan rates for new and existing customers
The rate increase will take effect on 19 September 2018.
A: As night follows day is it right to assume CBA, ANZ, and NAB will do exactly the same.... cartel, nothing to see here
answered
Q: I have stable employment and earn $220,000 a year. Unfortunately, I made a poor decision to get involved in one of those investment schemes where you get tax deductions up front.
The tax department has since closed down this scheme and I now have to pay $180,000 to the ATO. I have 2 properties but there isn’t enough equity to refinance and pay the ATO.
I don’t want to declare myself bankrupt and would like to know what other options are available?
A: Thanks, Todd, appreciate you taking the time
Regards
Marcus
answered
Q: I have stable employment and earn $220,000 a year. Unfortunately, I made a poor decision to get involved in one of those investment schemes where you get tax deductions up front.
The tax department has since closed down this scheme and I now have to pay $180,000 to the ATO. I have 2 properties but there isn’t enough equity to refinance and pay the ATO.
I don’t want to declare myself bankrupt and would like to know what other options are available?
A: Thank you all for your advice. In regards the properties, both have a gearing above 90% so it is not an option to refinance.
I will take the advice and try to develop a payment plan with the ATO.
p.s – Brendan, I shared your answer with a number of friends …. we all agreed it’s nice to see someone being so honest and direct.
Regards
Marcus
question
Q: I have stable employment and earn $220,000 a year. Unfortunately, I made a poor decision to get involved in one of those investment schemes where you get tax deductions up front.
The tax department has since closed down this scheme and I now have to pay $180,000 to the ATO. I have 2 properties but there isn’t enough equity to refinance and pay the ATO.
I don’t want to declare myself bankrupt and would like to know what other options are available?
