The average price of a home in NSW is $1,184,500, the highest in the country. Canberra is next at $948,500, followed by Victoria at
$895,000, with the Northern Territory the lowest at $489,2001. With the target cash rate expected to remain steady at a 12 year
high of 4.35% over 2024, the pressure is on parents and family to help the younger generation become homeowners.
Over the last 15 years, home ownership has fallen from 70% to 67% of the population. Over time, declining home ownership
will increase the wealth gap in Australia as for many, home ownership is a significant factor in wealth accumulation. According to the
Actuaries Institute, wealth inequality is significantly higher now than in the 1980s, with the wealthiest 20% of households currently having
six times the disposable income of the lowest 20%2.
The Domain’s
First Home Buyer Report 2024
estimates the time for a couple aged between 25 and 34 to save a 20% deposit for an entry level home to be 6 years and 8 months in Sydney,
and 5 years and 5 months in Melbourne (the Australian average is 4 years and 9 months). In that time, they are begrudgingly paying rent (or
staying with Mum and Dad).
Ensure clarity and protection by documenting loan terms for your home purchase with legal guidance. Consulting a financial adviser is
key to assessing eligibility for schemes aiding first-home buyers.
Family guarantee
When buying a first home, it's crucial to consider factors such as budget, location, property condition, future needs, and financing options.
When buying a house at auction, one should consider factors such as conducting thorough research on the property's condition, setting a budget limit, assessing potential renovation costs, and understanding the terms
Mortgage stress occurs when a household struggles with financial obligations and meeting their mortgage repayments.
The Government has announced that it will enshrine a right to superannuation payments in the National Employment Standards (NES).
Reduce interest on the non-deductible debt by using company cash to offset their personal mortgage, then transferring the cashback by 30 June.
The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses.
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.
In a pre-Budget announcement, the Government has committed to a Small Business Energy Incentive Scheme that offers a bonus tax deduction of up to $20,000.
The 2023-24 Federal Budget offers a $4.2bn surplus; the first in 15 years. The surplus was driven by a surge in the corporate and individual tax take.
Effective at 30th of June 2023, our sample PCG 2021/4 report uses Dr. Nicole Smart as our example.
LIVE EVENT
5 May @ 7 - 10pm
This exclusive and intimate fundraiser event is an opportunity to meet the makers behind Crittenden Wines, enjoy fine wine tasting,
delicious food, great company and bid on silent auction items, all to raise funds for Mental Health Safety Net.
When looking to purchase a new car, there are many different ways to use finance to help you secure your vehicle.
With the ups and downs of the property market, investors and homebuyers often wonder when the right time to buy really is.
Despite international travel starting to pick up again, demand for caravans is still high.
New research has found that it has been the smaller cities of Hobart, Adelaide and Canberra that have been the strongest-performing property markets over the past two decades.
Buy now, pay later services that allow consumers to make purchases and have grown in popularity. However, for homebuyers, there might be risks that they are not aware of.
Rising interest rates and the surging cost of living are putting more Australians under mortgage stress, according to a new report.
Regional areas and high-end Sydney suburbs dominate the list of suburbs bouncing back the fastest, according to CoreLogic.
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.
Tax planning is more than just a financial necessity—it's a strategic advantage for businesses of all sizes. By proactively managing your tax strategy, you can significantly reduce your liabilities, enhance cash flow, and ensure full compliance with ever-evolving tax regulations.
