By Shane Oliver, Head of Investment Strategy & Chief Economist from Oliver’s Insights, AMP Capital, Edition 18 2015 Key points In response to pressure from APRA, lenders are starting to tighten lending conditions to property investors. This is designed to slow property investor lending, particularly into the strong Sydney property market, while at the same time allowing the RBA flexibility... Read more
There were many positives in Treasurer Hockey’s second federal budget, the tone of which was a stark contrast to his grave warnings, severe spending cuts and austerity messages a year earlier. However one must question the optimistic forward growth estimates on which treasury base their calculations – I hope they are correct. We attach a paper issued by the Institute... Read more
Some clients that we have assisted with property transactions have been unaware of the Premium Property Stamp Duty payable on residential property transactions in excess of $3 million. The duty payable is calculated as $150,490 plus $7 for every $100 that exceeds $3 million. In comparison, the rate for properties less than $3 million pay duty at the lower rate... Read more
Many retirees are living the asset-rich and cash-poor contradiction, for example living in a $2 million home in Sydney, while surviving on $400 per week from the Aged Pension. While some people will happily downsize from the family home in order to free up some cash for living expenses, this is not ideal in all cases. There is the cost... Read more
A property in NSW with a swimming pool will be required to have a certificate of compliance before it can be sold or leased. The deadline for this has just been postponed by one year to 29th April 2016. Property owners are urged to commence this process promptly as there are reportedly long lead times for certifiers to carry out... Read more
‘Ademption’ is a legal term that describes what happens when something that is left as a gift in a Will is no longer owned by the Will-maker at the time of their death. Consider these examples of how this can occur. Example 1: The gifted property has been sold, for example the family home has been sold to fund aged... Read more
If you have an SMSF, and you are an employee, you have an obligation to meet the SuperStream requirements for standards of contributions to your fund. As such you are required to provide your employer with the following information: Your SMSF’s Australian Business Number (ABN) Your SMSF’s bank BSB and account number for receipt of contribution payments An electronic service... Read more
For parents who are willing and able to help their adult children buy their first property, here are a number of options with varying degrees of risk and control. Gift – A simple option if you have spare cash and are happy to hand it over as an unconditional gift. Tenants in Common – By buying a property with your... Read more
A business registration certificate no longer needs to be on display, following legislation in 2012. However, some businesses may choose to display the ASIC record of registration that is issued upon successful business name registration and renewal. Businesses are still required to display their business name prominently in places they are open to the public. If you need to check... Read more
Recently one of our clients received an unannounced visit from a Fair Work Inspector for a compliance audit. For the benefit of all business managers and owners, note the following information about the role and powers of these inspectors. Fair Work Inspectors are appointed by the Fair Work Ombudsman under the Fair Work Act 2009. Fair Work Inspectors have powers... Read more