Renting out your property or holiday home If you rent out property, you need to: keep records right from the start work out what expenses you can claim as deductions work out if you need to pay tax instalments throughout the year declare all rental-related income in your tax return consider the...
Purchasing an investment property that already has a tenant means you collect rent from day one, with no vacant period and no lease fees to find a new tenant. The lease just carries on as it did before you purchased the property. There are plenty of upsides...
Why bank valuations matter? When you’re buying a home, refinancing or accessing the equity in your property, your lender needs to know exactly how much the property is worth. This is where a bank valuation comes in, a process where the bank independently assesses the market value...
Understanding cash flow Understanding cash flow can be the difference between a solid long-term investment and a costly mistake, writes Michael Sloan. So do your research – and get good advice before you buy. What is negative cash flow? Oftentimes investment properties generate negative cash flow. That means,...
Buying a home is one of the biggest financial decisions you will make. Once the inspections are complete and you’re ready to proceed to purchase, it’s recommended to contact your broker or lender. The next step depends on whether the property is being sold at...
Why you need sale contract conditions If you’re borrowing to buy a home, you’re putting yourself at risk if you don't specify "subject to finance and valuation" in the contract. Don’t be forced into a purchase or lose your hard-saved deposit because you didn’t understand these...
Define your renovation goals Renovations can be an exciting time to re-shape the look and feel of your home, however before you start getting into the details, it’s important take a step back and clarify ‘why’ you’re renovating. For instance: Do you need more space? Is your kitchen...
Regular ongoing costs of owning a home Owning a home is a significant financial commitment, and not just when it comes to upfront costs. Once you've moved in, there are regular ongoing costs that you'll need to consider in your budget. These include mortgage repayments, council...
For the first time ever, the Australian banking regulator has announced it will impose new debt-to-income limits on housing loans made by banks. Such limits are a common tool used by regulators in other nations – including the United Kingdom, Ireland, New Zealand and Canada – to cool housing market...
Which records to keep for your property so you can work out CGT when you sell it. Property records you should keep For your property, you should keep records of: your acquisition of the property and related expenses, such as purchase contract stamp duty legal fees settlement statement survey and valuation fees your disposal...
He is also an accomplished presenter and educator
Co-authoring the popular investment book, Property vs Shares.