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.
Australian inflation recorded at 0.9% in the 2020 calendar year, nearly double what the Reserve Bank of Australia forecasted in November’s Statement on Monetary Policy.
The tax impacts you need to know with divorce and relationship breakdowns including some of the areas that may impact you and where you may need assistance for your SMSF, Trusts and Estate Planning.
In the 2020-21 Federal Budget, the Government announced the introduction of a new JobMaker Hiring Credit to stimulate job
creation. This webinar helps you understand your eligibility for JobMaker credits so you can take appropriate steps to avoid missing
out on payments from the ATO.
With the borders between the State and Territories all but open and 2021 in sight, there is a hunger for a return to normal. With Australia's desire to ‘get on with things,' sentiment reached its highest level since November 2013 and Christmas spending is expected to be consistent with previous years.
As the holiday season winds up, it’s easy to be distracted from your financial goals. But this is actually the perfect time to put a few simple plans in place for a positive start to the new year.
The US election had earlier dominated attention. Donald Trump’s reluctance to concede diverted attention from possible policy changes under
the new Biden administration, but this will likely become an increasing focus for investors in the months ahead.
Stimulating investment is high on the Government’s agenda. To encourage spending, the 2021-22 Budget introduced a measure that allows businesses to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use.
We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change.
You've got a big block with big plans to subdivide in order to make big bucks. But do you know the ins-and-outs of property development from a TAX perspective? Before you jump in and commit to anything, it is important to understand the tax liabilities that might arise from your projects that will affect your overall profitability.
The idea of insuring against loss of income is one that has clear value. The idea of insuring against loss of income is one that has clear value. Yet many neglect to insure their most valuable asset. Income protection could be the answer – so how does it work?
Prossor Town Planning is dedicated to help people obtain planning permits across industrial, commercial residential and green wedge developments. Jackie Prossor tells us why engaging Shannon Smit as her business accountant, in addition to being her financial planner and business coach, makes perfect sense.
Director and owner Jon Robbins first engaged SMART Business Solutions as their accountant in 2014. Jon was looking for a proactive accountant and business advisor who would listen to him, take the time to understand his business, and work together collaboratively.
The 2020-21 Federal Budget is a road to recovery paved with cash. Some of the measures are aimed at addressing the harsh lessons COVID-19
has taught us and seek to centralise production back in Australia to ensure our industries can be self-reliant.
Reflecting on the past 6 months, particularly since the effect of Coronavirus on financial markets, I am concerned that many investors do not have a clear and tailored investment strategy. My observations are that investors seem to be failing to understand one basic investment principle; 'The higher the return the higher the risk’.
The updated alternative tests released by the Commissioner of Taxation are broadly similar to the alternative tests that were released in connection with the original decline in turnover test. However, there are some key differences.
In this pragmatic webinar we help you identify arrangements at risk of triggering significant superannuation guarantee liabilities and explore the steps to minimise that risk. This is an issue that is not going away any time soon.
The release of Australian-listed company earnings gave local investors something other than virus-related news to focus on. Earnings rose ~15% in the June quarter compared to the first three months of the year. This was ahead of consensus expectations, but overall the results were underwhelming as anticipated.
To access JobKeeper payments from 28 September 2020, there are three questions that need to be assessed:
Is my business eligible? Am I and/or my employees eligible? and What JobKeeper rate applies?
We’ve summarised the key details in this update.
In this practical webinar we help you identify arrangements at risk of triggering significant superannuation guarantee liabilities and explore the steps to minimise that risk. This is an issue that is not going away any time soon.
Over 2 days, the Victorian Government has announced two new support packages delivering over $3 billion in “cash grants, tax relief and cashflow support.
If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value?
When it comes to choosing whether to hold personal insurance inside or outside superannuation, both options have pros and cons. Which one is right for you?
Some people enjoy retirement more than for others – and one of the secrets to success is to start planning well in advance. We spoke with a 67-year-old who has begun his (semi) retirement with style, for his real-life tips on how to make your retirement dreams happen.
| 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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