Rental affordability falls while housing affordability improves

Housing affordability across the country improved in the March quarter of 2017 as the proportion of income required to make loan repayments decreased by 1.3 per cent to 30.4 per cent. #RentvsBuy #HousingAffordability #StampDutyWaiver #FirstHomeBuyer

The number of first home buyers across the country decreased by 11.2 per cent to 20,677 while the average first home buyer loan size fell by 0.4 per cent year-on-year and 3.2 per cent over the March quarter to $313,433. This data was published in the latest Adelaide Bank/Real Estate Institute of Australia (REIA) Housing Affordability report.

Rental affordability across the country also dropped as the proportion of income required to meet rent payments increased by 0.1 per cent to 24.6 per cent. This number, however, represents an improvement of 50 basis points from 25.1 per cent of family income in March 2016.

March data shows that buying a home is the way to go. The announcement of Stamp Duty waiver in NSW has also caused innumerable ripples with more first home buyer considering established homes in Sydney that was previously unaffordable.

Talk to Madhu on 0425 341 086 to discuss your buying options and to understand the Stamp Duty waiver.

This is a must read for you this tax season. Most planning strategies are about accelerating deductions and deferring income in accordance to legislation. Here are the first 3 important factors. #TaxPlanning #Tax #SmallBusiness

Reduction in Tax Rates – From from 1 July 2016, Small Business Company’s tax rate has reduced to 27.5%. If you operate your business outside the company structure you will be eligible for the Small Business Tax Offset which is 8% of your small business tax liability capped at $1,000.

Small Business Capital Allowance – Immediate deduction is available for business assets purchased which cost less than $20,000 till 30 June 2018, the threshold will revert back to $1,000 on 1 July 2018. It is also a good time to review you asset register and write off assets which are obsolete or items which do not physically exist.

Bad debt – We recommend you review and write off any bad debt with necessary minutes and documents. Recoverability should be assessed for any long overdue amounts.

Contact Madhu on 0425 341 086 to discuss your tax planning this tax season.

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This makes the end of financial year a great time for small businesses to acquire new equipment. #EOFY #SmallBusiness #TaxDeduction #CashFlow

Small Businesses can claim an immediate 100% tax deduction for assets costing less than $20,000. Asset Finance Systems can help your customers make the most of this tax incentive. With an Equipment Finance loan from Finance and Mortgage Solutions, your customers can get the business equipment they need now, while protecting their valuable cash-flow.

Contact Madhu on 0425 341 086 to protect your cash flows.