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The Sydney market has performed strongly over many years - fuelled by low interest rates, a high demand from domestic and overseas investors as well as a general lack in supply. Is it slowing down now? Herron Todd White believes it is – they’ve pegged the Sydney housing market as being at the start of a decline in their popular “month in review” report.  The report is available here.

On the flipside – they’ve described the Melbourne market as approaching a peak and suggest buyers approach off the plan purchases with caution due to the risk of valuations coming in lower than the agreed purchase price which is something we’ve witnessed as well.

They have pegged the Canberra market as being on the rise.  We’ve also noticed a general increase in buying activity and purchase prices within Canberra over the last year. The Canberra market has been a star performer – particularly the market for detached houses with the median price reaching the $700k mark for the first time earlier in the year.

Then there’s good old Brisbane which has been a favourite of Pass Go clients for a while now. The report depicts Brisbane as being as the “start of recovery” – perhaps the high prices of the southern cities will see investors turn to sunny Brisbane which, in comparison, looks to offer good value for money.

Happy reading - and feel free to share with anyone who may find this info useful.

Jamie

About the author: Jamie Moore is an active residential property investor and owner of Pass Go Home Loans. If you’d like to have Jamie provide advice on your finance structure and investment strategy, simply complete and return this FORM and he will be in touch - this is a FREE, no obligation service. This information is of a general nature – please always consult taxation professionals about the specific nature of your situation.

 


Published in Blog Post
Wednesday, 10 May 2017 01:12

Federal Budget 2017

Damian Toms, Senior Financial Planner from Mint Financial, has prepared an analysis on the 2017 Federal Budget. Damian is my go to person for Financial Planning services – hopefully you find the information below helpful.


Last night, Treasurer Scott Morrison delivered a Federal Budget for 2017 focused, on health, home and housing.

There were some changes that will impact financial plans in both a positive and negative manner. Some of the key measures include:

·  Increase in the Medicare Levy to 2.5% from 1 July 2019;

·  Introduction of a First home Super Savers Scheme that allows first home buyers to make voluntary pre-tax contributions to their super which can be used to fund a deposit on a home;

·  The ability for those over age 65 to downsize their home and make a non-concessional contribution to super of up to $300,000.

We are pleased to provide you with several resources to help digest the changes announced and how you may be affected. Feel free to forward this to your friends / family or colleagues who may benefit from a detailed overview of the Federal Budget 2017.

Resources:
1. We have updated our website with detailed information on the Federal Budget 2017 and the impacts for various clients. 
Head to our updated Federal Budget 2017 page here.

2. If you prefer a video overview, Bryan Ashenden, Head of Financial Literacy and Advocacy from BT Financial Group, has produced a short 7 minute video with the key points affecting investors. 
View the video on Youtube here.

3. Finally, you can download a 2 page snapshot of the key changes announced. 
Download the pdf here.

Please note that the measures announced are proposals only and are subject to change before being passed as legislation.

If you have any questions or concerns - please don't hesitate to get in touch with Damian directly at www.mintfin.com.au/contact 

Pass Go Home Loans Pty Ltd
Australia Wide Mortgage Broker
This email address is being protected from spambots. You need JavaScript enabled to view it. | www.passgo.com.au | 1300 656 299

The information herein is not intended as investment, financial, legal, taxation, building, development or any other advice and must not be relied upon as such. You should obtain independent professional advice and make further independent enquiries before making financial, legal, taxation, building, development or investment decisions.

Published in Blog Post
Tuesday, 12 July 2016 02:09

End of Financial Year Tax Tips

Having a good accountant is critical to any investors wealth creation journey. If investing in property, it’s hugely important to use an accountant that’s clued up on all the taxation intricacies involved in property investing.
 
Many of you know that I’m an avid posted on the online forum www.propertychat.com.au/ - it’s a great resource for property investors. Whether you’re starting out or have been investing for a while – there’s something for everything.
 
It was on PropertyChat that I became super impressed with Paul Gerrard’s taxation advice. Like myself – he’s a bit of a forum addict and provides a number of contributions to the forum on taxation matters.
 
Given that the new financial year has begun I thought it would be worthwhile sharing some of Paul’s taxation tips for property investors.
 
· Do you have a Depreciation Report? If not, you may literally be throwing away tax deductions. While properties build after 1986 can claim depreciation and capital allowance deductions, it is not uncommon for even a 100-year-old property to have deductions worth seeking.
 
· Need to replace an item or repair something? Repairs can be bought forward and may be deductible. However not all replacements are repairs, eg a new appliance. These may need to be depreciated. But the old one could be written off.
 
· Have you considered a PAYG Variation? A PAYG Variation allows you to reflect your expected 2017 tax refund now and apply for reduced tax on wages. This can really help cash flow.
 
· Do you have the right loan structure in place? Some investors think they do but didn’t use a specialist broker. A specialist broker will guide you on how to avoid cross collaterising properties. They’ll be familiar with certain niche lender policies and have a good understanding of how to structure complex deals. They will also aim to get you a competitive deal.
 
· Remember the following may be deductible if you own a rental property

          - Travel to inspect the property / meet agent etc

          - Materials and costs for replacement items (but not your labour)

          - Borrowing costs if you refinance or break a fixed rate loan

          - Investor seminars and courses

· Prepay expenses. You can’t just pay in advance but can request to be invoiced early and when paid -  the deductions can be bought forward. Paying the July rates instalment in June may assist with an enhanced refund.
 
If you have any questions at all in regards to taxation matters – please get in touch with Paul. His details are provided below. If you mention you’re a Pass Go client, you’ll obtain a discount on their normal rates.
 
Also – your first consultation is free and without obligation. While Paul is Sydney based – his clients are all over the country. Everything can be done via email/phone.
 
Paul Gerrard
Accounting & Tax Manager 
Price Accounting Services Pty Ltd
www.pricefinancial.com.au
Unit 11, 1 Central Avenue
Thornleigh NSW 2120
Ph 02 9875-2444
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

About the author: Jamie Moore is an active residential property investor and owner of Pass Go Home Loans. If you’d like to have Jamie provide advice on your finance structure and investment strategy, simply complete and return this FORM and he will be in touch - this is a FREE, no obligation service. This information is of a general nature – please always consult taxation professionals about the specific nature of your situation.

Pass Go Home Loans Pty Ltd
Canberra, Australia
This email address is being protected from spambots. You need JavaScript enabled to view it. | www.passgo.com.au | 1300 656 299

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