The federal government’s Stage 3 tax cuts will take effect from 1 July, which will benefit the borrowing power of the average home loan customer. Starting from the 2024-25 financial year, the new tax thresholds will be: $0 to $18,200 – 0 cents in the dollar. $18,201 to $45,000 – 16c. $45,001 to $135,000 – … Read more
There’s been a welcome reduction in properties being urgently listed for sale, which usually occurs due to financial difficulty on the part of the vendor. There were 5,100 ‘distressed listings’ across Australia in May, which was 2.5% less than the month before and 8.5% less than the year before, according to SQM Research. That said, … Read more
The Australian Taxation Office (ATO) has flagged three key areas of concern at tax time – one of which is tax returns by property investors. The reason the ATO is focusing on investors is because, in previous years, 90% of investors have made mistakes on their tax returns. “This year, we’re particularly focused on claims … Read more
