Did you know that you have many options when it comes to deciding the entity that should own your new property? Most property buyers, even seasoned investors, default to simply buying the property in their own name, but this is not always the best and most financially savvy choice. The legally recognised owner of a…
Australia is becoming a more litigious society with more people considering suing and more lawyers opting to take on their cases for no upfront fee. While the number of lawsuits in Australia is growing, we’re still a fair way from the situation in the USA, where people have a 33 per cent chance of being…
Capital Gains Tax or CGT is one of those taxes no one really wants to pay. In fact, questions around Capital Gains Tax are very common here on Property Update. So, let’s dive deeper into CGT so everyone has a better understanding of what it is and how you can minimise its impact on your…
Capital gains tax (CGT) is the tax you pay on profits from selling assets, such as property. You essentially make a capital gain when the difference between the cost of purchasing your property (or another asset) and what you gained from selling it is greater than zero – in other words, you made a profit….
The interest rate hiking cycle might have peaked, but it’ll be some time until rates drop, borrowing capacity increases and Australia’s property market reopens to more first-home buyers. So it’s no wonder that housing affordability (or unaffordability) is such a popular topic at the moment. There’s no denying it has become a lot harder to…
Today I’d like to offer a list of simple strategies that can help Australians improve their financial fitness. If done properly, this includes assessing all aspects of personal finances, including strategies to boost retirement investments, such as including property and super, savings, a review of insurance policies, staying ahead of tax obligations and making an…
There’s a common saying that you should ‘begin with the end in mind’ – this is especially true for property investment. The problem is that too many investors begin their investment journey without considering what will be the best ownership structure. Without much thought to it, they put their entire portfolio in their personal name….
No one ever sets up a business with the intention to fail. Rather, entrepreneurial types are motivated by a multitude of factors such as personal drive and ambition or a desire to work for themselves or to create a particular product or service. Sometimes it’s as simple as wanting to be in charge of our…
As tax time is approaching it’s time to get all your financial ducks in a row. And this year, it’s more important than ever for property investors to get it right. The Australian Taxation Office (ATO) has announced it will focus on three areas where people make the most mistakes on their tax return, and…
In a world where a staggering 75% of will contests are successful, it’s clear that the final wishes enshrined in one’s will are not as final as they may seem. This rate of success tempts more family members to seek a greater slice of the inheritance pie. Legal actions for a share – or bigger…