With tax season knocking at the door and the economy sailing into rougher waters, here are strategic ways property investors can maximise their property tax returns while raising the overall value of their investments. Managing director of MCG Quantity Surveyors Mike Mortlock stated that with interest rates rising, construction costs surging, and increasing cost-of-living pressures becoming a heavier hip-pocket burden, investors should take steps to “get savvy” about the status of their financials. “Our research shows investors are becoming more prudent about their financial arrangements, and their level of engagement is only set to ramp up as fiscal pressures force us all to look at ways of maximising our bank balances,” he stated. He also urged property investors to take a sooner-rather-than-later approach when dealing with their real estate investments in these “tough economic times”. “If property investors were intending to carry out some of these actions on their investment, […]

Australian property — both commercial and residential —remains attractive to foreign investors despite major tax barriers when entering the market, according to an expert.  HLB Mann Judd Melbourne partner Josh Chye stated that investor demand from markets, including Singapore, Hong Kong and Malaysia, remains strong and, if anything, has been increasing. “New enquiries from mainland Chinese investors have scaled back significantly but other parts of the Asia Pacific region, including Singapore and Hong Kong, are consistently strong and Australia remains an attractive jurisdiction despite the relatively high taxation rates,” he said. He explained that Australia’s relatively high taxation rate — both at a personal and corporate level — has served as a major deterrent for some investors looking to get into the country’s property market.  For perspective, the Land Down Under’s personal tax rate of 47 per cent is almost double Singapore’s rate of 22 per cent. This disparity is more evident […]

There are two main facilities on a family home loan that should exist in anyone’s tax planning toolbox. Unfortunately, they are often misunderstood or improperly used. Variable home loans are generally more likely to offer features like an offset account or a redraw facility, which are two alternative options that help homeowners reduce their mortgage repayments. Both tools have contributed to the record rate of debt repayments seen across the country. Bankwest, for example, said that in March 2022, more than 90 per cent of customers were ahead on their home loan repayments. The average months by which customers were ahead (around three years), increased by 45 per cent. Their data showed a huge uplift in the volume of savings put into home loan offset accounts. From June 2019 to March 2022, offset account balances grew by 63 per cent – nearly triple the rate of personal savings growth for the […]

  Auctions have netted sellers an extra 11.7 per cent more under the hammer than if they’d accepted the highest offer prior to auction. The national property auction market has broken all records for the first few months of the year, while also notching up the busiest ever Easter week of activity. CoreLogic’s Quarterly Auction Market Review revealed that 23,748 homes went under the hammer in the first three months of 2022, making it the busiest March quarter since records began in 2008. For comparison, there were 19,004 capital city homes taken to auction in the first quarter of 2021 and 18,902 over the March 2020 quarter. During the three months to December 2021, 42,918 homes went to auction, setting a new benchmark and carrying through to an earlier than usual pick up in this year’s auction volumes CoreLogic Research Director Tim Lawless said. However, the combined capital city clearance rate of […]

Housing price growth has stalled across Australia ahead of interest rate hikes that are expected to accelerate the slowdown, with Sydney and Hobart already recording declines. The latest PropTrack Home Price Index, released on Sunday, showed prices nationally and across the capital cities were flat in April. PropTrack economist Paul Ryan said housing price growth has slowed considerably in 2022 after exceptional gains last year. “Price growth has now stalled across the country, particularly in the major capitals,” Mr Ryan said. Housing price growth across Australia has stalled, the latest PropTrack Home Price Index shows. Picture: Getty Australian home prices rose 0.13% in April – the slowest monthly pace of growth since prices fell at the beginning of the COVID-19 pandemic. With the Reserve Bank of Australia now tipped to start lifting interest rates as soon as this week, Mr Ryan said the speed of the hikes remain the biggest uncertainty for […]

If you’re thinking about putting your property on the market, check out our tips for selling a house quickly.   Whether you are financially committed to another property, relocating for a new job, or simply want to capitalise on the strong capital growth in your area, sometimes it’s necessary to sell your house or investment property as fast as you can.  Whatever the case may be, selling your property quickly and at the best possible price can only be achieved by making the right preparations.  By planning ahead of time, your property will be ready once it hits the market and can be snapped up by the right buyers.  Here are our top tips to speed things along and sell your property quickly.   Tips to selling your property faster  Work with the right agent  If you want to get your property off your hands quickly, having the right people […]