Now is the time of the year some people consider paying 12 months of interest upfront to claim the tax deduction in this financial year. If you have sold a property and have a capital gain liability, or have come into some money via a bonus or something, paying the interest upfront and claiming the [...]
Apr
22nd
Brokers lead banks in customer satisfaction
According to the latest Bankwest/MFAA Home Index, customer satisfaction with mortgage brokers has climbed 5 per cent since this time last year, from seven out of 10 to 7.5 – widening their lead over the banks.
Some new clients have told me of their experiences with dealing direct with the banks and how it could take [...]
Mar
12th
Do you need to register for NSW Land Tax?
For 2010, Land Tax is payable on the taxable value of land owned within NSW on 31st December 2009. A land tax threshold of $376,000 applies for taxpayers other than trusts and the principal place of residence of individual taxpayers (including their family) is exempt, as also is land used for primary production. The value [...]
Dec
14th
TOP TEN TIPS – TAX RETURNS ON RENTAL/INVESTMENT PROPERTIES
Here is a list of the 10 most common mistakes that investors make when preparing tax returns for rental properties from a partner at BDO Kendalls.
TIP l: Repair or improvement?
There is a fundamental difference between a repair and an improvement – the former is tax-deductible. but the latter is considered capital and therefore not tax-deductible.
To [...]
Dec
3rd
Property Prices in Australia
We are frequently asked by investors about the property market. In our last Investment News, we reported that dire predictions of the market’s imminent collapse had been shown to be wrong. As a result, one prophet of gloom, Steven Keen, now has to walk from Canberra to Mt Kosciusko wearing a t-shirt proclaiming his error.
So [...]
Dec
3rd
What does 2010 have in store for Property in Australia
With property prices in many capital cities hitting new highs, people are once again asking: “Can property values keep rising?”
We’re told that we have record population growth and we’re not building enough houses, and this is pushing up property prices.
So do we really have a shortage of dwellings? And can property prices keep rising?
Well…yes and [...]
Nov
18th
Rents rise across Australia
Rents on houses and apartments climbed nationwide throughout the year, even as low interest rates and the Federal First Home Buyers Grant boost lured more people into home ownership, a report shows.
Nationally, rents on houses increased 3.4 per cent to $422 a week over the 12 months to October, while they rose 4.1 per cent [...]
Nov
17th
The Australian Property Market Wager
Followers of the financial press will by now have heard that doomsday economist Steve Keen has lost his high-profile bet with Macquarie Group economist, Rory Robertson.
Keen rose to national attention in 2008 after predicting that housing prices in Australia were on the verge of a collapse. Unsurprisingly, the tabloid media leapt onto the sensational [...]
Nov
16th
Some property is just harder to finance!
You may have heard, lenders have made it harder for some people to get finance. A big part of this is due to a loss of appetite for property they class more risky, especially at lending levels where the loan is more than 80% of the property value (full doc).
So if you are out [...]
