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As the dust begins to settle on a turbulent two years, we’ve finally got the data to confirm what we already suspected. The property market went absolutely bonkers during what shall now be known as TCE (The COVID Era). How bonkers? 142% bonkers, to be exact. According to REA Group’s research team PropTrack, since the...
The Federal Treasurer, the Hon. Josh Frydenberg MP, has delivered the 2022 Federal Budget. We’re pleased to provide you with our 2022/23 Federal Budget Summary. Personal income tax changes Increase to low and middle income tax offset (‘LMITO’) The Government has announced a once-off $420 ‘cost of living tax offset’ for the 2022 income year,...
You might have noticed that property prices have skyrocketed over the past 18 months, to the point where a lot of first home buyers are now having real difficulties cracking the market. So how is the government looking at addressing it? Well, a House of Representatives committee (made up of both Liberal and Labor MPs)...
Seemingly every suburb in Sydney has experienced the Justin Hemmes Effect (JHE) by now. Slowly but surely, since taking over the reins at Merivale over twenty years ago, Justin has been building one of Australia’s most successful hospitality empires—with close to 80 pubs, hotels, restaurants and other venues now part of its ever-growing portfolio. In...
A collective sigh of relief could be heard across Sydney last week as an unfamiliar object appeared in the sky. For babies born 16-days-ago, it was the first time they’d seen the mass of light and heat radiating in the sky. ‘We call it the sun’, parents whispered weepily. The stats are in, and they...
The ATO has announced a major crackdown on the taxation of family trusts. In a long-awaited draft ruling, the ATO has focused on common tax planning strategies involving distributions to companies and family members. This crackdown means that family groups will need to reconsider how they are using their family trust. How will the crackdown...
A Bill implementing the Government’s key 2021-22 Federal Budget super changes recently passed parliament and received Royal Assent. Regulations have now been registered which remove the existing requirement for a work test (or a work test exemption) to be satisfied for a super fund to accept most types of voluntary contributions made for members aged...
We again take this opportunity to remind all clients about the requirement for all company directors to obtain the new Director ID number. All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporations are now required to obtain a director ID. A director ID is a unique...
There’s a shortfall between the income said property generates and the costs it incurs. The investor’s accounts show being out of pocket as their income doesn’t cover costs, yet they don’t seem stressed about it. In fact, come tax time, they seem particularly relaxed. Why? Tax evasion. Just kidding. The answer is much more legal:...
“They must be making a killing with this place”, said every person who’s ever stayed at a nice-but-seemingly-expensive-for-what-it-is Airbnb in Australia. You take your coffee out to the front porch of your ‘Romantic Farmhouse Orchard Escape’ set on a sprawling property with hectares to spare and start crunching some numbers. ‘What are the overheads, really?’,...
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2026 Quantiphy – Eastern Suburbs, Sydney. All Right Reserved. Website By Omni Online
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