Westpac Bank announced today the maximum LVR (loan to valuation ratio) for those seeking interest only repayments will be capped at 80%. This applies to both owner occupied and investment lending. They are last of the Major 4 Banks to cap LVRs for …
Month: May 2017
Have you made a capital gain this financial year?%3$s>
If you find yourself with a capital gain this year because you sold an investment property or some shares, it is time to take stock of your other investments and determine if now might be the right time to realise a capital loss.
Overcapitalising – what is it and how to avoid it%3$s>
As a home owner or property investor, you may have heard the term ‘overcapitalising’. But what exactly is it and why is it considered bad?
Budget changes to depreciation for investment properties%3$s>
The latest federal budget has seen changes to the way property investors can claim depreciation. This will potentially cost investors thousands, although it is yet to be legislated.
Wage increases less than 2 months away – don’t be caught out and always protect your Capital!%3$s>
By Pat Mannix
Accountant found to be an accessory for “wilful blindness” towards underpaid employees. In a precedent-setting decision by the Federal Circuit Court, an accountancy firm has been found accessorily liable for the underpayments of the employees of one of its clients.
Estate Planning & Land Tax%3$s>
By Pat Mannix
Deceased estates and Stamp duty – the transfer of property in accordance with the terms of a will or codicil is subject to stamp duty unless an exemption is available and section 42 of the Duties Act in Victoria exempts certain transfers of dutiable property where …
Are you paying more tax than you need to?%3$s>
By Ken Burk
What can you do to reduce your tax and the tax paid by your business? The answer is quite a bit but it takes planning pre 30 June. Here are our top tips …
PAYG Income Tax Withholding Variation%3$s>
Do you own a negatively geared investment property? Your employer is required to withhold tax during the year to cover your estimated tax liability from your employment income. However, those who have a negatively geared property investment will have less taxable income than their employer estimated, due to their rental property loss offsetting their employment income. In these cases, the employee does their tax and gets a tax refund for the overpaid tax at the end of the year.
BIG tax breaks%3$s>
By Pat Mannix
Fantastic News, there is an increase to the aggregated turnover threshold to $10 million for access to small business tax concessions from 2016-17. This means that any businesses with an aggregated turnover of under $10 million can now ….
The Budget Wrap 2017%3$s>
By Pat Mannix
The Budget was delivered last night and there is a mix of good and bad news for our clients and prospective clients at Paris Financial. I will try and zero in on the key points and give a brief comment. The very large caveat here is that all this budget information is NOT law yet but everyone should be moving and starting to think about the consequences of these changes.
Your guide to investment property loans%3$s>
There are certain things to look out for when selecting and applying for a loan for your investment property. Here we look at the main differences, the most popular loan types, and how to get the best mortgage for your situation.
Making your excess cash work for you!%3$s>
If you are lucky enough to have come to that point in life where you have paid off your private mortgage you may now be looking at paying down some investment loans. There are a number of factors you need to consider to ensure you get your excess cash working for you in the best way possible.