Search found 3 matches

by Joe
Mon Jun 10, 2019 6:05 pm
Forum: Home Loan Forum
Topic: Will an instant asset tax write off decrease my borrowing power?
Replies: 5
Views: 976

Re: Will an instant asset tax write off decrease my borrowing power?

Why is it so convoluted! Is there a difference between a risk fee and LMI? Or are they the same? - Thank you for your patience by the way.
by Joe
Mon Jun 10, 2019 4:21 pm
Forum: Home Loan Forum
Topic: Will an instant asset tax write off decrease my borrowing power?
Replies: 5
Views: 976

Re: Will an instant asset tax write off decrease my borrowing power?

Thanks for clarifying that. My f.y. 2018’s taxable income was a lot less than 2017’s taxable income which was slightly over $100,000. My question is how do they determine which year’s income to use for serviceability or do they use an average of both?
by Joe
Mon Jun 10, 2019 2:34 pm
Forum: Home Loan Forum
Topic: Will an instant asset tax write off decrease my borrowing power?
Replies: 5
Views: 976

Will an instant asset tax write off decrease my borrowing power?

Hi, I purchased a couple of machineries worth $15,000 and $25,000 respectively for my business. I’m thinking of reducing my taxable income with the instant asset tax write off this year however, I’m concerned that when I apply for a home loan come July that my borrowing power will be reduced due to ...

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