Real Estate News

Ways to splash the extra cash from depreciation

Ways to splash the extra cash from depreciation When an investor starts claiming depreciation, they can reduce their tax liability. This is because depreciation essentially lowers their taxable income, meaning they may be able to put more money back in their pocket at tax time. For many investors, the additional savings depreciation provides them can help them to reduce their loans faster, add more funds into an offset account, to put money towards a new car or a holiday or to assist them with everyday expenses involved in holding the property. As an investor, there are smarter ways to use the extra cash you will make from depreciation. Here are just a few: Pay off your debts First things first, if you have any major outstanding debts, this may be a good chance to reduce or eliminate them. While a Financial Advisor can advise which debts you should be paying off first according to your own financial institution, things like credit card debts (which often have very high levels of...

The 8 worst property investment mistakes

Unfortunately new property investors often make simple mistakes, which can have long-term negative consequences for their portfolio.Here are eight of the most common property investment blunders to ensure that you don't fall into the same old unhelpful traps.1. A failure to plan is a plan to failThe first mistake that newbie investors make is they fail to plan. They jump into the market when they feel the need to invest or feel the need to catch up with their peers.They start buying before any planning has taken place at all. In fact, planning is an after-thought, which a big mistake. Many decades ago, I made the same error and just jumped into it because it seemed like the right thing to do at the time. Fortunately, it worked out well for me, but that's not the case with today's market, especially for people who take the "property advice" of their accountant or financial planner and end up buying a new property purely for tax minimisation purposes. Because one of the problems wi...

These will be the biggest home design trends in 2019

It's that time of year again when predictions for decor trends start popping up.Senior interior designer Sarah-Jane Mossop and Tegan Robbins from Wavetrain told WILLIAMS MEDIA the trends they think will make it big in 2019.From mid-century modern to eco-friendly furniture, these are the home decor trends to watch out for this year.One of the biggest trends set to dominate the decor landscape this year is the emergence of organic shapes."Look for sinuous sofas, soft feminine beds, statement vases and irregular shapes," Mossop said. "New designs will arrive to redefine traditional silhouettes, taking inspiration from form and fluidity. This will not be limited to furniture design, but architecture and homewares too," Mossop added.Expect to see curves, rounded forms, and bumps everywhere."This trend prioritises comfort without compromising on style and is able to be worked into almost all interior aesthetics."Dark and boldNothing creates a sense of drama better than black.Interior designe...

BMT Tax Depreciation - What is a Quantity Surveyor

What is a Quantity Surveyor? A Quantity Surveyor is a professional who specialises in estimating the value of construction costs and other assets. Quantity Surveyors may get involved at various stages: prior to construction, during construction and post-construction. We use our skills to determine the cost of building works and fit-out, whether we’re looking at a residential property or any of the structures and assets within the vast spectrum of commercial properties. Quantity Surveyors are one of the few professionals recognized by the Australian Taxation Office to have the appropriate skills to calculate the cost of items for the purpose of tax depreciation. The values we provide are unique: they’re not a market value or a replacement cost. Instead, construction costs are estimated using today’s values and then historically indexed to the year of construction. Meanwhile, we value plant and equipment items (commonly known as fixtures and fittings) to reflect the...

Three emerging trends in property investment

What will 2019 hold for the property market? We look at some of the biggest trends we're likely to see in the year ahead. Investors seeking regional areas over metropolitan As property price growth continues to slow in Sydney and Melbourne, there is an increasing demand for regional properties by investors thanks to more affordable housing opportunities. According to CoreLogic’s Home Property Value Index for February 2019, the national median house price value slipped a further 0.9 per cent. In contrast, regional housing market values are up 2.4 per cent overall. Despite the downturn in Australia’s two largest cities, there are still plenty of opportunities for investors who are prepared to focus on fundamentals and to purchase well at a time when there’s fewer buyers to compete with. Regional areas are often overlooked and offer a mix of lifestyle appeal, affordable price points, access to amenities and transport options linking with major working precinc...

How will the banking royal commission impact first home buyers?

Buying a property has long been hailed as the great Australian dream. After all, your home is your castle. However, the lead up to the February royal commission sparked concern amongst first home buyers that their dreams of owning a home would remain just that. The possibility of stricter lending coupled with a steady decline in house prices made entering the property market seem tantalisingly out of reach for many. Fortunately, recommendations from the banking royal commission have been less severe than expected where first home buyers are concerned. For those considering entering the market, this is how you may be affected. Lending criteria One of the key issues that arose prior to the royal banking commission was the way in which banks were assessing home loan applicants. Previous findings revealed that major banks were lending more than their customers could afford, leaving them with mounting debt and loan repayments they were unable to meet. Lending standards were therefore t...