From 1 July 2023, access to the Government’s Home Guarantee Scheme will be
expanded to joint applications from “friends, siblings, and other family members” and to those who have not owned a home for at least 10
years.
The eligibility criteria for access to the First Home Guarantee Scheme and Regional First Home Buyers Scheme will be expanded. From 1 July 2023, the schemes will no longer be limited to individuals and couples who are married or in de facto relationships, but will also include eligible friends, siblings, and other family members for joint applications.
In addition, the requirement for the applicants to be Australian citizens at the time they enter the loan has been extended to include
permanent residents.
The schemes guarantee part of a first home owner’s home loan enabling them to purchase a home with as little as 5%
deposit without paying Lenders Mortgage Insurance. Guarantees are capped at 15% of the value of the property.
Thirty five thousand places are available for the First Home Guarantee Scheme each financial year. From 1 October 2022 there will be ten
thousand places available each financial year until 30 June 2025 for the Regional First Home Buyers Scheme.
Eligibility to the Family Home Guarantee will also be extended. From 1 July 2025, the scheme will no longer be restricted to single parents
with at least one dependant natural or adopted child, but will also be available to borrowers who are single legal guardians of dependent
children such as aunts, uncles and grandparents.
The Family Home Guarantee guarantees the home loan of an eligible single parent with at least one dependent child enabling them to purchase a
home with as little as 2% deposit without paying Lenders Mortgage Insurance.
The guarantee is capped at 15% of the value of the property. Five thousand places are available to the scheme each year to 30 June 2025.
We'd love to help you experience life with greater choice.
Establishing a medical or dental practice is a big undertaking. The most effective ways to purchase medical equipment is with the help of asset finance.
Demand for office space is slowly starting to recover, with a new report showing Sydney, Brisbane, Adelaide and Perth rents are moving higher.
Over the past 12 months, the value of residential approvals has declined 3.15% while the value of non-residential developments continues to grow, up 3.61%.
ONLINE WEBINAR
27 April 2023 // 12:30pm
Let's face it, insurance is not the most exciting topic. In
this webinar we'll offer guidance on how to compare different insurance policies, assess your risk, read beyond the marketing and how
to get the most value for your money.
For the contribution to be counted towards the employee’s 2023 contribution cap, it must be received by the fund by 30 June 2024.
After higher interest rates weighed on values during the second half of 2022, prices have now rebounded 0.43% since the start of the year.
A recent survey found that 75 percent of borrowers could find themselves unable to refinance because of life decisions that they were preparing to make.
Refinancing your motorcycle loan is not always something people think about. But there are several advantages that borrowers can capitalise on.
Lenders typically require a significant amount of documentation and proof of income for self-employed borrowers, and their lack of a steady income can make it difficult.
Buying properties off-the-plan has become a popular way for home buyers and investors to purchase property.
There is currently a significant shortage of quality life science facilities in Australia and only a small number of investors are seeking exposure in this emerging asset class.
According to CBRE, Australian hotel sales reached $2.14 billion in 2022, the second-highest transaction volume on record.
Renewing your invoice finance contract is an important decision that can significantly impact your business's cash flow.
The ATO guidance (PCG 2021/4) totally changes the way that professional firm profits can be allocated (or split) among a family group from 1 July 2022 onwards.
In the lead-up to 30 June 2023, we want you to be aware of opportunities to save tax with super contributions.
In the lead-up to 30 June 2023, you can avoid paying an extra tax of up to 47% of Trust profits by completing your Trust Distribution Resolutions before 30 June.
When an accountant talks about Tax Planning what do they actually mean? As part of our tax advisory service we always offer strategic tax advisory, but it's important to note there are a lot of things that accountants cannot implement after June 30.
ONLINE WEBINAR
30 March 2023 // 12:30pm
Gen Z, it’s time to level up your financial literacy. This is the stuff that you didn’t learn in school. Get ready to learn the ins and outs
of budgeting, saving, and investing in a way that’s relevant to where you’re at right now.
The Government has announced that the concessional tax rate on earnings from superannuation will increase from 15% to 30% for those with total super balances (TSB) of $3m or more from 1 July 2025.
The ATO is more than a little concerned that people with holiday homes are claiming more deductions than they should.
The amount of money that can potentially hold in a tax-free retirement account, will increase by $200,000 on 1 July 2023.
A consultation paper released by Treasury has sparked a national debate about the role, purpose and access to superannuation.
The Government has announced that from 2025‑26, the 15% concessional tax rate applied to future earnings for superannuation.
The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home.
A chattel mortgage is a popular way for businesses to purchase large assets such as machinery and vehicles.
A new report by CBRE has found that incredibly tight vacancy rates across the residential and industrial property markets are likely to lead to a “rent-a-demic” in 2023.
The number of new development projects aimed at investors is slowing down, which could lead to more rental market pressures according to new research.
One of the biggest expenses people face outside of their mortgage is the cost of buying and owning a car.
It’s important to approach property investing with a strategic mindset to help you avoid some of the common pitfalls.
Conveyancing involves the legal transfer of ownership of a property from one person to another.
With rapidly rising interest rates and the escalating cost of living, borrowers are once again looking at a loan deferral as a way to get back on track.
Experts generally recommend checking the health of your home loan each year to make sure it remains the right fit.
With over $13 BILLION dollars in unclaimed super across Australia, it’s evident that many are not even really sure on how super works. Our expert financial advisors want to give you back control over your money.
Accountants have emerged from the pandemic into a blizzard of changes and keeping clients up to date risks a backlash over tighter compliance rules and increased fees.
ONLINE WEBINAR
23 February 2023 // 12:30pm
In our upcoming webinar we'll be diving into some common exit
strategies for successful succession planning, the pros and cons, and what you need to consider before making a decision.
Property depreciation is a tax deduction that investors can take advantage of to save money on their tax bills over a long period of time.
When determining whether you should pay all cash or look to finance the car is always going to be based on your personal situation.
The process begins when the sale contract is signed and officially concludes on settlement day.
Rising interest rates and sky-high property prices have made homeownership tougher for first time buyers.
With strong capital growth and tight vacancy rates driving up rents, more and more investors have been looking to regional areas.
With home prices rising substantially over the past decade, homeowners are often sitting on a large amount of equity that they could use for other things.
| The Fair Work Commission (FWC) has handed down its 2026 Annual Wage Review, and the numbers are in. From 1 July 2026, the national minimum wage will rise by 5.97%, and modern award minimum rates will increase by 4.75%. |
Now's the time to review what strategies you can use to minimise your tax before 30 June.
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