anz cuts rates

And the banks will be drinking Dom.

Yes it works! They will call your bluff and you will have to find someone else to lend you the money.

Really not this lil black sheep venturing out in a 1 year old business that makes money has no debts and employs 7 people .30 years of various businesses and employment and paying loans and taxes without default ever counts for nuttin .Nor does having nearly 1 mill assets and no debts except for a small mortgage .its a new venture they're not interested .Current loan negotiated whilst in employment for someone else .Funny tho because I had only been in that job a short while and could have been fired in an instant with no income . Here's the real irony .An employee of mine who has worked for me less than a year can negotiate a loan but I can't .Go figure ?/

ANZ are the biggest pack of thieving wotnots!!! Live in my world???? Go fornicatr your own asses ANZ you law breaking, life destroying ass monkeys who can't count and won't take responsibility for anything!! Let alone your own mistakes!! Foccaia ppl over when they could easily do the right thing except they don't want to admit they screwed the pooch!! Instead let's lose money and ruin ppls lives at the same time!! **** you!!!

P.S. ANZ employees touch small dogs for recreation... Srsly!!

I'm already in bed with them but we don't make out much with a small loan .Still would prefer not to be paying them so much and would like to see the same for others .On the flipside retired bay boomers are getting good rates for what is left of teir money an dare more likely to spend . I would like to buy the shop I'm in ( I own the business not the shop)

That might seem like a good idea if you are thinking you would not have to pay rent any more.

From a business point of view the business still has to pay rent whether it is to somebody else or to you. Not to do so will have the business running under a false scenario.

If you buy the shop I suggest you do it in a different entity such as your super fund or "Mr float Holdings". For a start, doing that will mean you are buying the shop as a "going concern" and therefore not liable for GST on the purchase.

Secondly you will then have two businesses. A trading business and a real estate renting business. You can then sell either without having to sell the other.

It would be better to have the real estate in your own name for Capital Gains Tax reasons. You would only have to pay CGT on 50% of the gain which would be added to your other annual income.

If you have the real estate in a company name there is no relief on CGT. You will pay 30% tax on 100% of the gain.

I am not an accountant but I make sure I hire a good one. I stay right away from the ITPs and the H and Rs, especially the latter.

Get advice from a good accountant who is not a proxy employee of the ATO.

If you are interested in direct property investment you might like to look at these guys. www.cromwell.com.au/home

I recently bought a lump of units in the Ipswich City Heart Trust and it is paying 8%/annum tax deferred with monthly distributions.

It is called "Making money while you sleep.".