How much is Australia’s land worth? The answer is about $5.8 trillion, according to the latest Australian Bureau of Statistics (ABS) figures for the 2017 financial year. That’s well over 3 times the level of Australia’s GDP of around $1.7 trillion. And, at just under $4.8 trillion, about 83 per cent of that dollar value…
New laws regarding self-managed superannuation funds (SMSFs), especially the introduction of a $1.6m balance cap on the total amount that can be transferred into the tax-free retirement phase for simple account-based pensions, may reduce the attractiveness of holding physical property in SMSFs, according to some financial professionals. Limited recourse borrowing arrangements (LRBAs) would also become…
Shopping around for a property can be a daunting experience, particularly if you have any lingering questions around how much you can afford to spend. However, you can overcome at least this one niggling concern by approaching the bank to obtain home loan pre-approval or pre-qualification. It’s important to note that both of these result…
