Tuesday, 31 July 2012

NSW The Ballina Shire council will recommend approval for plans to rezone land



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The Ballina Shire council will recommend approval for plans to rezone land that could eventually hold 3000 new homes. Councillors voted 7-2 at this week's meeting in favour of rezoning areas known as Cumbulum precincts A and B. The two-part project in the Ballina hinterland has been likened to duplicating the existing villages of Alstonville and Wollongbar.






LISTEN TO AUDIO CLICK HEE
http://mpegmedia.abc.net.au/local/northcoast/201207/r978986_10690118.mp3
Mayor Phillip Silver says it's a significant and far-reaching decision that will guide residential development in the shire for the next 20 years.
"Some folk will not like it, and I can tell you even the councillors that voted for it weren't particularly happy about it," he said.

"But the point is, the land has been zoned urban-investigation (for) over a decade, the owners applied to have it rezoned, all of the issues that came out of the exhibition have been assessed and verified.
"It ticked every box, so really there was no reason to refuse it," Cr Silver said.
But Greens councillor Jeff Johnson says it's a poor decision that should not have been pushed through at the final meeting of the current council's term.

"There are some significant issues regarding the cost and delivery of infrastructure that will be required, including the upgrade and realignment of Ross Lane and the impacts on Lennox Head," he said.
"It's disappointing that in the last meeting of this council term, we've just made the most significant rezoning decision for over 30 years, that will not be needed for at least 15 to 20 years in the future," Cr Johnson said.

Councillor David Wright, who put forward the motion to recommend approval, says it's a prudent decision.

He says the State Government has pressured the council to move on the development, and may have stepped in if no progress was made.

Cr Wright says the council managed to convince the developers to fund infrastructure work that could have cost the public millions.

"What we've managed to do is to get Precinct A and Precinct B both entered into voluntary planning agreements which will really relieve the present-day community, our ratepayers, of (the) burden of putting in major infrastructure," he said.

But the head of Lennox Head's chamber of commerce, Louise Owens, is not convinced that's enough.
"The infrastructure of Lennox Head needs to be upgraded to cope with the amount of people who are going to come into the area now to visit," she said.
"We're already virtually at a maximum parking capacity.

"Once you reach that, you turn customers away from the businesses rather than attracting them to it."

Monday, 30 July 2012

Which Australian suburb is most popular with investors?

re blogged
source: rp data

Please go to link http://blog.rpdata.com/2012/07/which-australian-suburb-is-most-popular-with-investors/
and once on link above click on the pictures to see a much bigger image

Which Australian suburb is most popular with investors?

Based on figures from the 2011 Census, the proportion of dwellings which are rented has remained fairly consistent across Australia over the past decade.  Rented dwellings comprised 27.6% of all occupied homes back in 2001; ten years later the proportion had risen by only slightly more than one percentage point to 28.7%.  The Census data shows the biggest shift in dwelling tenure was seen in homes that are fully owned and homes that have a mortgage.  The proportion of homes that are owned outright fell from 39.7% of all occupied private dwellings in 2001 to 31.0% in 2011.  Conversely, the proportion of homes that are owned with a mortgage rose from 26.5% in 2001 to 33.3% in 2011.

The Census provides some fascinating insights about the trends and geographic spread of renters.  Considering that most rental accommodation is owned by private investors, analysing this data also provides an insight about where property investors have been most active (in 2011, 71.5% of all rented dwellings were privately owned, 9.4% were rented from the Government and 2.0% were rented from community or church groups.  A further 6.7% of renters fall into the ‘other landlord type’ classification or did not respond to this question in the Census).
Nationally, the proportion of dwellings occupied by renters stands at 28.7%, however there are difference from region to region.  The largest states, New South Wales and Victoria, show a bias towards capital city investing with 31.6% of Sydney dwellings being rented compared with a lower 27.6% of dwellings outside of the capital city.  Similarly, 27.2% of Melbourne dwellings are rented compared with 24.5% outside of the capital city.
That trend is reversed in the mining states where investment is more popular outside of the capital cities, probably due to the high yields and capital appreciation that has been evident across the resource driven regions in both of the these states.  Regional Western Australia accounts for the largest proportion of dwelling occupied by renters (apart from regional Northern Territory which is influenced by the large number of Government supplied rental housing) at 35.3% compared with 27.6% across the Perth market. The margin is much slimmer in Queensland with 33.4% of regional Queensland dwellings being rented compared with 33.0% in Brisbane.
Of the capital cities, Darwin shows the largest proportion of investors with 41.9% of all occupied dwellings being rented.  Brisbane, at 33.0% of all dwellings, is the second most popular capital city for investors.

Getting down to a more granular level, the Census suburb classifications show exactly where rental housing/investment is more or less popular.  The results also provide an indication as to where social housing is most heavily concentrated.   The tables below show the top ten suburbs across each capital city based on the highest proportion of rental dwellings.  We have included median house and unit prices as well as typical rental yields to provide an indication about prices and gross returns in the suburb (‘n.a.’ indicates the suburb has recorded fewer than 10 house or unit sales or fewer than 10 rental observations over the past 12 months).  It is also important to understand whether the high proportion of renters is being driven by market forces or by social housing; for this reason we have included a summary of the proportion of rental dwellings privately and non-privately owned.
It is clear to see from some of the suburbs on the list how predominant social housing is in some areas. For example, the Sydney suburbs of Claymore (97.9%), Airds (96.2%) and Daceyville (92.6%) show extremely high levels of non-private rental housing (i.e. government or community/church rented).  High proportions of non-private rental dwellings are also evident across the northern regions of Adelaide and eastern areas of Hobart.  The benefits of integrating social housing throughout the community rather than establishing social housing ‘enclaves’ is well documented; these examples are a stark reminder of the town planning principals that were prevalent several decades ago.
It is important to point out that some regions showing a high proportion of non-private rental dwellings are influenced by other factors such as military bases and mining sites.








What is even more interesting is drilling down on the Census data to show exactly where the most popular suburbs for investment/renting are located.  The table below shows the top 50 suburbs around the nation that have the highest proportion of renters where at least 75% of the dwellings are privately rented (i.e. dwellings where the landlord is the Government or a community/church group comprise 25% or less of all occupied rental dwellings).  Based on these parameters, Brisbane’s Fortitude Valley is the most popular ‘investor/rental’ suburb in the nation with 70% of all occupied dwellings being rented, followed by Canberra’s city centre (69.7%) and the Perth suburb of Northbridge (69.3%).
Of the top 50 list, 40% of the suburbs are located in Sydney, 14% are in Brisbane and 10% respectively in Melbourne and Perth.  Unit dwellings are clearly the most popular dwelling type for investors, with many of the suburbs in the top 50 list recording fewer than 10 house sales over the past year (this is why a median price or rental yield is not recorded for houses in some suburbs).  Yields for units tend to be well above average in most of these suburbs, highlighting the attractive investment conditions.





Sunday, 29 July 2012

VICTORIA Frankston’s first high rise


By Donna Carton
Frankston Standard Leader
24th May 2011

THIS 14-storey apartment block will be Frankston’s first high rise since the Peninsula Centre.
The 89 apartments on Davey St, with a street-level cafe and gym, were approved by council last week.
Selling agent Adrian Foster, of Hocking Stuart, said 13 people had paid deposits to secure units with bay views.
Supporters of the plan said it would help regenerate the city centre but others declared the building an eyesore and a parking nightmare.
Cr Glenn Aitken said the elevated position meant it would spoil the view from the waterfront.
“The developer is taking maximum advantage of that site without any real return for Frankston,” Cr Aitken said.
However, Cr Brad Hill said Frankston, which claims to be a sustainable city, should embrace such development.
“Trying to get a development on less space and encourage people without cars to move in is a good thing,” Cr Hill said.
Cr Christine Richards said Frankston needed more housing to cope with a growing population.
“This is close to shops, entertainment centres and transport. I have no problem with the quality of this design but we need to talk to the developer about parking.”
The design has 79 underground car spaces for the 89 apartments and no visitor spots.
Mr Foster said the complex will be of “real benefit to Frankston and an injection of cash into the (CBD)”.
“People will be living and shopping in the city centre,” he said.

Saturday, 28 July 2012

REZONING REFORMS IN VICTORIA


REZONING REFORMS IN VICTORIA
Your property might be at risk, never to be subdivided again!
Hurry and get in quick prior to October before the new rezoning reforms come into play.
The overhaul, foreshadowed by the Baillieu government will involve the biggest changes to urban zoning since the 1990s Kennett era.
It will bring in new restrictions on development in some areas, but relaxed restrictions in others - including in so-called green wedges.
For the first time, Melbourne will be divided into three distinct residential zone categories, each of which will have different rules affecting development. They will be:
  • รข€¨"Neighbourhood residential zones" in which the local features are deemed to need protection, and where there will be the toughest restrictions on development - including on some types of subdivisions and high-rise projects.
  • "General residential zones" in which modest growth and development will be permitted.
  • "Residential growth zones" in which high-density development will be allowed.
The biggest reform of planning controls in 30 years will see suburban neighbourhoods filled with sprawling family plots declared off-limits to new developments by the Baillieu Government
But less traditional residential areas will be thrown open for more apartments, small blocks and higher-density developments under planning zones intended to set clearer controls for councils about where and what sort of buildings will be allowed.
"This zone says, 'We are going to keep the backyard' - Planning Minister Matthew Guy
To View the zoning changes explained in detail click here.

Thursday, 26 July 2012

Private health insurance rebates have changed. Are you still entitled


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Private health insurance rebates have changed. Are you still entitled?


The government has introduced changes to the private health insurance rebate and the Medicare levy surcharge. From 1 July 2012, the private health insurance rebate and the Medicare levy surcharge will be income tested against three new income tier thresholds.
Higher income earners will receive less private health insurance rebate or, if they do not have the appropriate level of private patient hospital cover, the Medicare levy surcharge may increase.

The ATO will determine the amount of your private health insurance rebate entitlement when you lodge your income tax return.
This may result in a refund or a liability for you.
If you know that you will not be entitled to the rebate you can notify the Health Fund and request that no rebate be applied to your premiums from 1 July 2012.

Private Health Insurance Rebate Changes

Private Health Insurance Incentive Tiers with effect 1 July 2012:
Singles
<$84,000
$84,001-97,000
$97,001-130,000
>$130,001
Families <$168,000 $168,001-194,000 $194,001-260,000 >$260,001
Rebate
< age 65
30%
20%
10%
0%
Age 65-69
35%
25%
15%
0%
Age 70+
40%
30%
20%
0%
Medicare Levy Surcharge
All ages
0.0%
1.0%
1.25%
1.5%

Singles earning $84,000 or less and families earning $168,000 or less will continue to receive the existing 30, 35 and 40 per cent rebate, depending on age. As the income level rises, the rebate reduces, hence making private health insurance more expensive. 

Tip:  As the rebate reductions will only apply to premiums paid after 1 July 2012, health funds are allowing members to prepay their annual premium up to 12 months (some funds up to 18 months) before the end of June 2012, thereby benefiting from the existing rebate and avoiding the means test for another 12 months.
Some higher income earners may consider dropping their current cover due to the reduction in the rebate, however with the increase in the Medicare Levy surcharge, taxpayers may be financially worse off if they choose this option.

source: http://www.williambuck.com

Wednesday, 25 July 2012

THE BEST REAL ESTATE APP EVER __YES THATS A BIG CALL ?



"if you are getting blog via email click above heading for missing pictures and video"  



Boomtown app----thanks Nifty
Must get in the running to get this new app when it is ready for download
to register to get this app
go here http://www.dsrscore.com.au/.
I don't know how much it will cost so stay tuned.
If you don't have an iPhone but have another smart phone and want this app
Then its is simple there is a solution  < CLICK ME  >
WATCH THESE VIDEO'S











Lets look at what this app does.
One feature is at the examination of the DSR score.
DSR stands for Demand to Supply Ratio.
What is the DSR Score?

Here's something to think about..

  • Residex reported an Australia-wide capital growth for the year ending December 2010 of -1.19%. Over the same period the top bracket of DSR markets recorded an average of 11%.
  • For the year ending 30 Jun 2011 Residex reports a country-wide growth of -1.84%. DSR top 100 averaged 9.1% over the same period.
  • From March 2010 to March 2011 the API top 100 (suburbs hand-picked by recognised property commentators) averaged 7.3% while the DSR top 100 chosen using Boomtown (the dsr score mobile app) alone averaged 11.7%. Who know how long it took the experts to do their research and for the API top 100 to be compiled but the 'Boomtown 100' tooks all of 60 seconds. Easy, Accurate and very fast.
It works: The DSR Score is causing a sensation in property circles.


The app aims to :

Find Hotspots

Prices go up or down depending on the demand and supply of property. With Boomtown you can work out where price hikes (or dips) are imminent right down to the post code level. Price is determined by supply and demand (not previous prices or forecasted prices). Now you can quickly calcuate each suburbs supply and demand.Buy or Sell?Optimise your portfolio. Property investment is not a 'set and forget' undertaking. With buy and sell costs in mind you can now easily determine which properties to sell and which to hold. Give your 'lazy equity' a shot of wealth building adrenalin.Shortlist Hot SuburbsQuickly create a suburb shortlist with all the supporting data. No more spending hundreds of hours verifying data across various property portals and data sources. 
Devil's in the Detail
What makes the suburbs in your shortlist hot? What do each of the 8 demand-supply stats tell you about their overall capital growth potential? Armed with the facts you can challenge the sellers agents, ask the right questions and ultimately pay the right price for the right property.
Match Your Strategy
Match your search parameters with your strategy using the basic or advanced search settings. Using our visual 'sliders' you can quickly set your search range for each property statistic and match your search to your strategy. Easy and fast. Looking to renovate & Sell? Buying for capital growth? Customise your searrch accordingly..in seconds not weeks.
Context Sensitive Help
Don't know what 'Online Search Interest" is or 'How Auction Clearance Rate' impacts the overall score and suburbs potential growth. Have no fear. Most so called 'experts' don't either. Boomtown edcuates and informs. Learn how to research like and expert and then do it like an expert. All at your finger tips.
Spot the Trend First
The best opportunities for growth lie in the trend line. Quickly find a handful of suburbs where rental yields are trending upwards. You might want to sell if a suburbs is trending downwards on more than a couple of the 8 key supply-demand statistics. The DSR Score measures the gap in demand andsupply today. The trends tell you what's coming so be prepared.
Save Time & Money
Want us to do it all for you (find high performance property)? Want discounted finance offers based on the score? 'in app' enquiries are a click away as are our team who have bought over 1,000 properties. You'll save time getting the professionals on your side and possibly save a lot of money (overpaying, missing out at auction, opportunity cost etc).
9 article series as featured in YIP magazine
The market average is just that: THE AVERAGE. 
If you can accurately measure the supply and demand for properties in all suburbs in Australia and compare them side by side you will quickly get an idea of which suburbs sit above the average trend line (the market average) and which suburbs sit way below.
Even in a flat market you can identify hotspots likely to skyrocket in price.  But how do you do this without spending countless hours every night, bleary-eyed as you search website after website?
Sure, the information is all there – but it takes hours and hours to find… trawling different website, articles and expensive reports ... and then all the information needs to be analysed.  Is that your idea of fun – coming home after a long day at work only to face a whole night in front of your computer screen?

E.g. "show me 10 suburbs with a DSR score of 24-32 (greate growth potential), a rental yield of 7%+ costing no more than  $320,000 with renters making up 30% of the occupants in an area" 





ABS IPHONE IPAD APP suspended



ABS Stats Loads Your iPhone or iPad With Major Australian Statistics

The ABS has decided to temporarily suspend its new iPhone App. This decision has been made as the app was inadvertently linked to 2006 Census data rather than 2011 Census data. The app will be back up and running as soon as possible.

so keep an eye on the website. http://www.abs.gov.au

iOS: If you’re a statistics geek, this is mobile manna. The official Australian Bureau of Statistics (ABS) iOS app includes customisable key economic indicators, the ability to search 2011 census data by postcode for information on general demographics, and a constantly updated population projection for Australia.
The app also includes links to key sections of the ABS web site and its social media accounts. For in-depth drilling, the site is still going to be your main resource (and on a tablet, statistics are pretty accessible), but this is a handy addition for basic data without hunting through the online version. One neat trick: you can access census data for your current location.
ABS Stats is a free download for iOS devices.


Friday, 20 July 2012

Residex CEO John Edwards CURRENT AUSTRALIA UPDATE


Residex CEO John Edwards says the Perth result was a “surprise” as there was nothing dramatic to point to quarterly drop of more than 4%.
He tells Property Observer the interest rate cuts in May and June may have played a role in undermining confidence in Perth, where borrowers are less sensitive (in a positive way) to interest rate cuts.
According to Residex, Perth home owners have the second highest amount of after-tax income ($1,025), behind Canberra ($1,262) and thus are less concerned about adjustments to interest rates.

Perth house prices picked up in March but fell by 1.8% in May and by 1.8% in June, when the RBA cut rates by 50 basis points and 25 basis points.

Edwards says the two rate cuts may have “spooked” a market where affordability is not as much of an issue as in the other markets.

“In markets where house prices are overly unaffordable, rate cuts impact in positive ways, but the ABS census 2011 numbers showed that affordability is nowhere near as bad as we thought it was it – and Perth is one of the most affordable market,” he says.

Sydney house prices were virtually flat (down 0.18%) to a median of $666,500, with Australia’s largest housing market outperforming the national market, which recorded a modest 0.7% fall over the quarter to a median of $423,000.

The strongest-performing capital city housing market by far over the quarter was Darwin, with house prices up 7.13% to a median of $511,500.

Darwin also registered a 2.19% gain in house prices for the year to June – the only capital city to record a price gain over the 12 month period.

Melbourne house prices fell 1.31% to a median of $555,500 while the Brisbane median house price fell 3.75% to a median of $412,500.

Over the past 12 months to the end of June Hobart is the weakest-performing capital city housing market, with a fall of 7.48%, followed by Brisbane (- 6.49%) and Melbourne (- 6.41%).


Perth house prices have fallen 1.72% over the year to June, but any decline in capital value has been more than offset by rental returns, which Residex says are up more than 15% in Perth.

Melbourne and Brisbane recorded rental growth of 6.58% for the year to June, with Sydney managing rental growth of 3.7% to a median weekly rent of $560.

Edwards says the outlook for Melbourne is for very limited house price growth and rental growth.
“Perth will pick up in the medium term, and we expect quite good rates of growth with moderate rental increases,” he says.

Edwards describes Sydney, alongside Perth, as a “fragile” market in terms of confidence.

However it is a balanced market in terms of stock levels, and a lack of building activity will see it head into a situation of having a housing shortage.

Melbourne, on the other hand, “is massively oversupplied,” Edwards says.

source: Residex CEO John Edwards and
http://www.propertyobserver.com.au/residential/perth-house-prices-at-three-year-low-after-surprise-426-fall-in-june-quarter-residex

Thursday, 19 July 2012

THE NEW ATO DOCUMENT YOU HAVE TO READ

THE NEW ATO DOCUMENT YOU HAVE TO READ

WHY?
It talks about the focus of the ATO on possible audit processes this financial year.
I have been mentored by Dymphna Boholt, (expert in this area) and so have really nothing to worry about. I have done it right from the start and thank her for it .
If you want to have a refresher course from not only Dymphna and her extremely good expert team of accountants and law experts, YOU need to attend one of the seminars. Contact Knowledge Source
to find out when they are on and prepare you questions for the talks. http://knowledgesource.com.au/

DOCUMENT FROM ATO 2012-2013 FOCUS
can be downloaded on the ATO website. www.ato.gov.au/download.asp?file=/content/downloads/COR00326650_NAT7769.pdf



FROM ATO PAPER ABOVE:


SMALL-TO-MEDIUM ENTERPRISES
There are around 183,000 businesses in Australia with an annual turnover of between $2 million and $250 million, which the ATO classifies as small-to-medium enterprises (SMEs). Of these, around 80% have a turnover of between $2 million and $10 million.
Over the coming year, our compliance program for SMEs will focus on the following compliance risks:
Over the coming year, our compliance program for SMEs will focus on the following compliance risks: 
n participation of wealthy individuals in the tax and superannuation systems
n use of trusts to inappropriately minimise tax
n Division 7A – treatment of private company profits
n capital gains – non-disclosure and incorrect reporting n employer compliance with fringe benefits tax rules
n integrity of business systems for GST and excise obligations
n GST and property transactions





OTHER COMPLIANCE ISSUES
As well as the key compliance issues we are focusing on in 2012–13, we continue to monitor the compliance of micro enterprises with the full range of their tax and superannuation obligations, including the following issues: 
 GST and property transactions – we will continue to monitor and investigate taxpayers who dispose of real property and fail to report the transaction on their activity statement or misclassify the transaction for GST purposes.
We will match information from third party sources (such as sales data from state and territory revenue offices) with information reported on activity statements (see SMEs, page 35). 





ALSO NEWS TODAY OTHERS COMMENT ON THIS
sources:
http://www.smartcompany.com.au/tax/050793-ato-compliance-2012-tax-office-uses-data-matching-instead-of-audits-and-cracks-down-on-individuals-expense-claims.html
and
http://www.propertyobserver.com.au/news/property-transactions-to-face-increased-ato-scrutiny-in-2012-13/2012071955660?utm_source=Property+Observer+List&utm_campaign=74464d16a6-July_9_20124_10_2012&utm_medium=email

Details of a crackdown on how property transactions are reported for tax purposes have been revealed in the ATO’s Compliance program for 2012-13, which highlights “particular issues” that will attract the attention of the taxman with a warning that it will “deal firmly with those who intentionally seek to obtain advantage over their competitors through the inappropriate use of the tax and superannuation systems”.
“The annual compliance program outlines the actions we are taking to deter, detect and deal with those who do not meet their tax and superannuation responsibilities,” says Bruce Quigley second commissioner of compliance at the ATO.
Property developers
In relation to GST and property transactions, the ATO says it will increase its focus on property developers with a history of non-compliance.
“By engaging with taxpayers at registration and throughout the property lifecycle, we will encourage them to correctly assess and report their liabilities and, where necessary, require them to provide security bonds against projected future tax liabilities,” says the ATO.
The ATO highlights that it has a strong relationship with the states and territories in developing and supporting its complementary compliance programs.
As an example it says it received a referral from the Northern Territory Revenue Office that initiated a series of audits on property developers “disengaging from the tax system and thus evading payment of income tax and GST on property sales”.

Free iphone app. Depreciation Calculator iPhone App


 Free iphone app. Depreciation Calculator iPhone App

click link
Download now!
Free iphone app.

Washington Brown iPhone App

Australia's most popular online property tax depreciation calculator is now available to download to your iPhone.
Accurate property tax depreciation information is now at your fingertips. Simply download the Washington Brown app and start calculating. It's the simplest way to review the tax saving prospects of new investment property opportunities or get a quote on an existing investment to start saving on your tax.
The Washington Brown iPhone app is the perfect tool for real estate agents, accountants, mortgage brokers and property investors.
It's the only calculator to use real property data to give you an accurate estimate.

Wednesday, 18 July 2012

WHAT IS PROPERTY DEPRECIATION? Bob Guths's opinion


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Bob Guth's Weekly RealestatementWednesday, 04 July 2012


OH WHAT A NIGHT...

Are the two recent interest rate cuts starting to produce more confidence in the real estate market... or... are BradfieldCleary just superior real estate agents?
Having sold 52 Edward St, Woollahra for undisclosed sum exceeding $5 million, we were left with 4 properties to auction this week, Tuesday 3rd July.
1. 13/9 Dudley St, Coogee             SOLD   $706,000
2. 36 Paddington St, Paddington  SOLD   $1,360,000
3. 6/2 Kent Rd, Rose Bay                SOLD   $890,000
4. 32 Heeley St, Paddington          SOLD   $1,840,000

Add to this the four brand new loft style one bedroom apartments in Roylston Lane, Paddington which were ALL SOLD within 14 days, and you have very real signs that confidence might be returning to the Eastern Suburbs market.
In a few weeks we will be offering 4 very large terrace style residence in the same Roylston Lane / Cascade Street, Paddington development.
WHAT IS PROPERTY DEPRECIATION?
Your Investment Property newsletter has listed the top 10 questions asked by investors about depreciation.  This is one of those little gems not brought up enough.
1. What is Property Depreciation?
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.
There are two types of allowances available: depreciation on Plant and Equipment, and depreciation on Building Allowance.
Plant and Equipment refers to items within the building . Building Allowance refers to construction costs of the building itself. Both these costs can be offset against your assessable income.
2. So how does a Depreciation Schedule help me?
Simple. A depreciation schedule will help you pay less tax. The amount the depreciation schedule says you claim effectively reduces your taxable income.
3. Is my property too old to claim Property Depreciation?
The simple answer is no. If your residential property was built after July 1985 you will be able to claim both Building Allowance and Plant and Equipment. If construction on your property commenced prior to this date, you can still claim depreciation on Plant and Equipment . Commercial and industrial properties are subject to varying cut off dates.
4. Shouldn't my accountant prepare this report?
If your residential property was built after 1985 your accountant is not allowed to estimate the construction costs.
5. Will you need to inspect my property?
The Australian Institute of Quantity Surveyors (AIQS) Code of Practice stipulates that site inspections are necessary to satisfy ATO requirements.
6. My property is renovated. Can I still claim?
Yes. We will need to know how much you spent on renovations. Even if the previous owner completed the renovations YOU are still entitled to claim depreciation!
7. How much will my Property Depreciation schedule cost?
The cost of preparing a tax depreciation schedule varies according to the type of property you've purchased, location, size and numerous other factors.
Quantity Surveyors fees are 100% tax deductible.
8. How much will I save?
Each property is different and many varying factors must be considered when preparing a property depreciation schedule. Try this free depreciation calculator. 
9. How long will it take to complete my schedule?
Your depreciation schedule will take approximately 2-3 weeks to complete, as long as the Quantity Surveyor can inspect your property without delay.
10.  I bought my property three years ago. Can I still make a claim?
Yes you can. Your accountant can amend your previous tax returns up to 2 years back. There are some exceptions so please contact your tax agent or the ATO for clarification.
Tyron Hyde is a director of quantity surveying firm Washington Brown. For more information on property depreciation including a FREE online tax depreciation calculator, visit www.washingtonbrown.com.au

- Bob Guth

Tuesday, 17 July 2012

Great report on Rental price differences from Bob Guth


"if you are getting blog via email click above heading for missing pictures and video
and also the whole document not just the small email alert" 

I was reading Property Observor and fond a link to this guy 
Great report on Rental price differences from Bob Guth.




REDUCED RATES TO KICK-START MARKET
The Reserve Bank reduced interest rates yesterday by 0.5% as an admission they had blundered by leaving rates on hold in February and March. 



With the two rate cuts at the end of last year the Eastern Suburbs property market was set to rebound in the early part of this year but faltered by the lack of rate-cut continuity coupled with Banks’ actually increasing rates due to higher funding costs. 


When one links this with the overall economic uncertainty and instability of the Federal Government it is no wonder the cut was overdue. Unfortunately the reality is the Banks are unlikely to pass on the benefit of the full 0.5%.

It will be very interesting to see over the next few weeks if we enjoy increased enquiry from buyers which may manifest into the beginning of gentle price increases. 

I will report in my newsletter on this subject.


RENTALS CONTINUE TO RISE

The table below shows our re-letting of properties for the month of April. Certainly the trend seems to be positive. We have noticed however that the top end remains soft for leasing.


Property address
New Rent
Old Rent
% Change
Hopewell Street Paddington- Studio apartment
$325
$300
+8.3%
St Neots Avenue Potts Point - 1 bedroom ground floor apartment
$350
$300
+16.7%
Edgecliff Road Edgecliff - 1 bedroom plus study Art Deco apartment
$425
$420
+1.2%
Darling Point Road Darling Point - 1 bedroom modern apartmen
$525
$500
+5.0%
Drumalbyn Road Bellevue Hill - 1 bedroom plus sunroom apartment
$540
$520
+3.8%
Andrews Avenue Bondi - 1 bedroom renovated apartment
$590
$575
+2.6%
Thornton Street Darling Point - 1 bedroom with stunning views
$620
$610
+1.6%
Holt Street Double Bay - 2 bedroom security apartment
$620
$600
+3.3%
Herbert Road Edgecliff - 3 bedroom terrace
$870
$820
+6.1%
Young Street Paddington - 2 bedroom 2 bathroom apartment
$900
$850
+5.9%
Billyard Avenue Elizabeth Bay - 3 bedroom 2 bathroom apartment
$1150
$880
+30.7%
 
 
 
Overall increase 7.75%


NOTABLE SALES THIS WEEK
3 Raine Street Woollahra $1,450,000
174 Underwood Street Paddington $1,640,000
79 Cascade Street Paddington $1,875,000
41 Fletcher Street Woollahra $2,200,000
1/9-11 Rosemont Avenue Woollahra $2,900,000
83 Darley Road Randwick $3,325,000
90 Holdsworth Street Woollahra Undisclosed
- Bob Guth


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Monday, 16 July 2012

The top 20 most ‘crowded’ suburbs across Australia


The top 20 most ‘crowded’ suburbs across Australia

re blogged article
Where can you find the most people packed into one suburb?  According to the latest Census data, look no further than the inner Sydney suburb of Elizabeth Bay.  This suburb covers about one quarter of a square kilometre of prime Inner Sydney real estate and, according to the latest Census figures, is home to 5,093 persons which works out to be about 2 persons per 100 square metres of land.  The second most densely populated suburb in the country is right next door at Rushcutters Bay, with a comparatively sparse population density of 1.5 persons per 100 square metres.
Nineteen of Australia’s top twenty most densely populated suburbs are located in Sydney.  The one exception is Melbourne’s Southbank which ranks at number 19 in the population density stakes.
The table below shows the top 20 suburbs across Australia based on the highest population density on a rate/sqkm:

Interestingly, third on the top twenty list is the comparatively outer lying suburb of Wentworth Point which is located on the Parramatta River about 16km from the Sydney CBD.  The suburb was gazetted in 2009 and was previously part of the suburb of Homebush.   Having such a high population density outside of the inner city is quite uncommon for an Australian city (particularly outside of Sydney), however, as urban renewal projects and brownfield developments spread further away from the city centres, a greater level of population density in the middle ring suburbs is likely to become more common.
The spatial patterns of population density are generally centric to the inner city and follow the path of key transport infrastructure.  The trend is quite clear on the thematic maps below which include a 1km train station buffers overlay.  It makes sense that higher population densities will follow the established transport corridors; land along these routes is generally zoned for higher densities.  As transit oriented developments continue to gather pace I am quite certain we will see higher population densities spreading to key transport nodes located further away from the city centres.
















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