I was going through an article on careerdare.com. Jessica Young was pointing out to me 4 rules which high achievers follow without fail. Let me quickly capture them for you.
Tracey's Property News
Tax Office To Check On Property Investors
This year the tax office will breathe fire on property investors. Each stratum of investor- newbie, mid-sized portfolio holders, investors high on net worth- will be covered in the crackdown, says Michael Yardney in an article for the Property Update.
After all, the Tax Office has found its talisman- a vast repertoire of property data that was lying with the State Revenue Office for long. The records collected online can help in tackling the logistic challenges of such a big crackdown.
Being transparent and morally correct is the way out of the situation. If you are a new owner of rental property, file your returns carefully and in time. If you are a high net worth individual, remember that audits for your hierarchy have shot up from 680 to 1500.
Ambiguous payments made to contractors, nepotistic dealings made with kith and kin, and subtle transfers made via SMSFs, may all stand in the line of tax penalties.
You can read the whole article here.
Are you an expat investing in Australian properties? Have you checked with the Tax Office?
Global Firms Wooing Australian Commercial Properties
Australia is turning out to be the blue-eyed baby of the commercial property market worldwide. YIP for the online magazine Your Investment Property suggests that roughly $18.5 billion is heading towards Australia via orders placed by 50 offshore firms.
Baby Boomers Invading The FHB Market With SMSFs
The generation closing on retirement (or retired) is making rapid inroads into the First Home Buyer Market. Their self-managed super fund is proving to be of great assistance in this regard. Yeah! I would any day lay a bet on that kind of fund getting the better of paltry resources that first home buyers have (despite the Grants). Peter Sarmas for the StreetNews reports that SMSF-aided investors have grown double-fold whereas FHB numbers have come down by half since last year.
Investors from the generation of baby boomers are a strong presence at the auctions. Buoyed by low interest rates, they are easily outbidding the first home buyers.
The value of residences in capital cities have grown by nearly 7% since the trough they hit in May 2012. This is also a trigger for the baby boomer generation which has enough money stacked up their sleeve.
You can read the full article here.
Are you investing in some equity release product (reverse mortgage and their likes)?
Average Houses Fetching A Million In Excess Of Reserve
From exercising overcaution to jumping lock, stock and barrel into the property market, Australian investors have really made the journey from one pole to another in quick time. It seems that the pessimism surrounding the GFC has all but melted. Buyers are getting desperate to purchase properties- fearing that they would miss the ownership/investment bus otherwise. How else can you explain an average, 3 bedroom house in Eastwood selling for over $2.3 million? An article on news.com.au talks about the insane figure and the associated buying frenzy (call it despair if you will).
Essential Traits Of A Great Neighbourhood
Recently I went through an article on MSN Real Estate. I remember Melinda Fulmer writing it and it talked about what makes a great neighbourhood. It was kind of hard for me to disagree with anything that Fulmer wrote. Many factors play a role in making a great neighbourhood- cafe culture, proximity of amenities, plenty of areas thriving with community interaction and so on. Go through the piece in your leisure time, I bet it won’t disappoint you.
