Amid all the recent change it is hard to believe that tax time is approaching again! Was that a groan? We understand and we can help. If you’re like most property investors, trawling through receipt upon receipt to tally up your allowable deductions is probably not your idea of fun. So, as tax time looms we wanted to share our pre-tax time checklist to make things just a bit easier for you.
We can help you determine if you can access your equity to renovate, or perhaps expand your investment portfolio if you’re in a position to do so. Remember, asking us to give you a free property investment loan health check could potentially save you money, so it’s worth giving us a call.
If you have any questions about the pre-tax time checklist or would like us to assess your situation, please contact us – we are here to help.
Click here for information about ATO measures and tailored support during COVID-19.
Good news if you are wanting to build a new home or renovate an existing one! The Australian government has just announced a HomeBuilder scheme that will provide eligible owner-occupiers (including first home buyers) with a tax-free grant of $25,000.
To access this grant, owner-occupiers need to meet the following criteria:
- $200,000 p.a. for a couple based on both 2018-19 tax returns or later
To find out more, visit the Australian Government website: Click here
With interest rates at an all-time low, now is the perfect time to take advantage of this opportunity. Get in touch with me today to discuss your eligibility and I can help you with a competitive home loan.
Winter has arrived quickly and we’re hoping you’re well and keeping warm. Recently the property market slowed down considerably with the COVID-19 pandemic having a huge impact. Find out more about home value movements in each state below.Interest rate news
The Reserve Bank of Australia (RBA) announced it has decided to keep the official cash rate unchanged at 0.25% at its meeting on the 2nd June.
According to the RBA, the pace of recovery for the quarter beyond June is uncertain. The outlook will depend on the extent to which the market continues to be affected by social distancing and other containment restrictions. RBA governor Philip Lowe said in the previous meeting that the Board will not increase the cash rate until progress is being made towards full employment and inflation is sustainably within the 2-3 per cent target band.
Interest rates remain low for some time and there are plenty of competitive home and property investment loans available. Talk to us to make sure you’re getting the right deal for you.
Home value movements
We have seen a reduction in home values in May as the market activity showed more positive signs. The Home Value Index report from CoreLogic shows that the estimate of sales activity bounced back by 18.5% in May after a drop of 33% in April. CoreLogic head of research, Tim Lawless, said “Considering the weak economic conditions associated with the pandemic, a fall of less than half a percent in housing values over the month shows the market has remained resilient to a material correction. With restrictive policies being progressively lifted or relaxed, the downwards trajectory of housing values could be milder than first expected.”
Melbourne’s housing market has posted the largest fall over the month, down at -0.9% May. Home values were also down in Sydney (-0.42%), Brisbane (-0.08), Perth (-0.56%) and Darwin (-1.59%), but rose in Canberra (+0.55%), Hobart (+0.77%) and Adelaide (+0.45%).
EOFY: Why property investors love tax time
It’s tax time and if you are a property investor, is a great time to maximise your tax benefits this financial year.
Take control of your budget
Getting your budget under control and your finances in order is absolutely essential for anyone looking to apply for a home loan. Here’s a few things to consider to get financially fit in the new financial year.
Keep your indoor plants happy this winter
During winter, your indoor plants are going to have a harder time staying healthy and will require a little extra care. Read more for our top tips to help them thrive during the cooler months.