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With the NSW recently announcing that from the first of January next year, it will abolish stamp duty concessions for first home buyers buying new homes, it’s been reported this week that there is now more activity in the property market from first home buyers keen to see if they can get in before that deadline.
So if you’re a first home buyer and you feel like you’re ready, here is a suggested list you may want to check off before you decide to pounce: (more…)
So disappointing to see the Federal Government’s legislation on the abolition of exit fees eventually get passed yesterday, after such an overwhelming number of industry groups pointed out the obvious flaws in introducing such a move.
It would seem that despite the efforts of many, commonsense did not win out on the day and it will be interesting to see if there’s any real impact on borrowers behaviour at all. (more…)
The Federal Government’s draft regulations on exit fees in their current form will not do anything to promote competition in the mortgage market – but rather will do more to benefit the big banks. (more…)
“We need to move – this house is too small / needs too much work / doesn’t suit our lifestyle anymore/ isn’t in the right location.”
Whatever the reason you decide you want to up sticks and move houses, you would do well to remind yourself that the cost to move homes doesn’t simply start and finish with the difference it may have cost you to upgrade to new digs. (more…)
Did you know you could be missing out on thousands in tax savings each year because you are not fully maximising depreciation allowances on your investment property?
Depreciation is one of the most important (yet often overlooked) tax saving benefits available to investment property owners. Just like you claim wear and tear on a car purchased for income producing purposes, you can also claim the depreciation of your investment property against your taxable income. (more…)
Federal Budget’s tax cuts which come into effect on July 1 offer no real concession for mortgage holders coping with six official rate rises.
Borrowers feeling the pinch from rate rises this financial year will not be able to offset any real amount off their increased mortgage repayments with the tax cuts – and will still have to seek out additional ways to restructure their household budget. (more…)