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Tax
21/03/2017
IF you’re looking for a home in Sydney or Melbourne, chances are you’re feeling frustrated, overwhelmed and irate, priced out of the market you were born to buy into. Most are quick to blame the deep pockets of foreign investors, with high demand seeing properties sell for hundreds of thousands of dollars over reserve. Recent figures show one in 10 properties in NSW are being snapped up by foreigners, and with interests rates so low, this trend shows no signs […]
10/03/2017
STATE governments are holding the Federal Government responsible for the big solution to the housing affordability crisis hitting major capitals. Treasurer Scott Morrison is under increasing pressure to use powerful taxation levers in the upcoming Budget to move the market away from investors and in favour of first-home buyers. That could mean reducing capital gains tax relief, and limiting or removing negative gearing tax concessions. The pressure increased today as the Reserve Bank left interest rates untouched while warning that […]
08/03/2017
Confused about the conflicting terms that real estate agents use to quote the likely selling prices for properties? Then get set for the uncertainty to intensify – at least for the next few months. Many agents are adopting highly divergent approaches to quoting prices in the countdown period to the Victorian government’s introduction of new laws to clamp down on underquoting by agents. The most widely used terms include “offers above,” “price on application” or no price indication at all. […]
08/03/2017
The majority of countries in the world have a central bank whose role is to maintain economic stability by managing the currency and interest rates, and issuing bank notes. In Australia, this institution is known as the Reserve Bank of Australia, also referred to as the RBA or the Reserve Bank. On the first Tuesday of every month, except for January, the RBA board meets to determine whether it should change the official cash rate. The result usually makes headlines […]
07/03/2017
An estimated 400 restaurants, cafes and hair and beauty salons will get a visit from the Tax Office this month, as part of the agency’s continued focus on the illegal cash economy. The ATO has in recent years stepped up audits of small businesses in high-risk industries, which it suspects may be taking illegal cash-in-hand payments. ATO officers with Asian language skills have been visiting these kinds of businesses in major cities across Australia including Melbourne, Sydney, Gold Coast and […]