Monthly Archives - August 2019

Company directors required to sign up for identification numbers under new anti-phoenixing scheme

Australian company directors will be required to sign up to a new identification scheme designed to curb illegal phoenixing activity under new laws unveiled by the Federal Government. The long-awaited director identification numbers (DIN) draft legislation has been released by Treasury, alongside measures to simplify business registration processes. But has  as yet not been passed as at this date. (more…)

Compounding interest – watch your savings grow

"Grandpa, please don't buy me any birthday, or Christmas presents, instead invest the money for me".

Assuming an initial investment of $2,000, and Grandpa making regular monthly contributions of $150 with an average return of 5.00% after tax (managed funds, shares etc.), little Sam would have accumulated $67,000 at age 21.

If the monthly contribution was increased by another $50 to $200 a month the accumulated savings at age 21 would be $88,000.

A regular savings plan, because of compounding (e.g. interest on interest) makes a significant difference.

ASIC's Money Smart site has a calculator that shows the outcome of making an initial deposit and then regular set and forget monthly payments. Try out different scenarios based on your situation.   [ASIC - Compound Interest Calculator]

So much for the downturn! Australia’s housing affordability is at crisis levels as the number of expensive suburbs TRIPLES

The number of suburbs with ridiculously unaffordable house prices has tripled despite Australia being in the grip of a record property market downturn.

During the last real estate boom in June 2014, just 3.2 per cent of Sydney suburbs had a median price of more than $2million, CoreLogic data showed.

That number has more than tripled in just five years, with 10.6 per cent of houses in Australia's biggest city being in this situation. (more…)


‘You can no longer hide’: ATO cracks down on $100 billion in foreign income

Around 1.6 million Aussies are being told “you can no longer hide” as the tax man ramps up a major crackdown on this $100 billion area.

The Australian Taxation Office has turned its sights on more than $100 billion held in offshore bank accounts in a crackdown on undeclared foreign income.

Taxpayers who receive income from investments, family members or working overseas are being urged to report it this tax time or face hefty penalties, with new international data-sharing agreements meaning the ATO has greater power to track money across borders to identify cheats.

Liverpool Civic Place

Council’s proposed mixed-use Liverpool Civic Place development will anchor and activate the southern end of Liverpool CBD, providing new public spaces, community facilities and job opportunities for our growing city. Located at 52 Scott Street, Liverpool, Council will commit around $195 million to its components of the proposed development, which include:   (more…)

2018/2019 Investment Sales Report

Coomercial Property InvestmentsWith the Federal Election and uncertainty around negative gearing and capital gains tax now in the rear-view mirror, the commercial property market is again in investors sights. But just how well has the market performed over the pas 12 months? The attached Sales Report from Burgess Rawson, highlights sales in the commercial and industrial property market, including Retail, Child Care Centres, Fast Food, Medical, Automotive and other property types. (more…)
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