Redline Quantity Surveyors

20/04/2022

https://www.redlineqs.com.au/blog/how-rising-construction-costs-have-placed-you-at-risk/

When the industry witnesses such dramatic increases every property owner is at risk of being under-insured. This occurs when the insured replacement value on your home insurance policy is lower than the cost to replace your home in the event of a disaster (fire, flood, etc).

25/03/2022

"Negative gearing not going anywhere"

Both major Australian political parties hhave pledged a commitment to retain negative gearing should they be elected into power at the upcoming Federal election.

23/02/2022

31/05/2021

A record price has been set for an apartment south of Gold Coast’s Mermaid Beach, as buyer competition and soaring values send first homebuyers and entry-level investors to the in-demand region’s northern corridor.

25/02/2019

Labor used to think changing negative gearing would be “disastrous”.

Australia can’t afford Bill Shorten’s Housing Tax, which would reduce home values, increase rents and hurt Australia’s economy.

02/02/2019

Attention rental property owners! We’ve put together our top 10 tips so you’re not stumped by common tax mistakes this year.

1. Always keep evidence to support your claims.
2. Make sure your property is genuinely available for rent.
3. Initial repairs and improvements can’t be claimed in full in the year the expenses are incurred.
4. Borrowing expenses of more than $100 must be claimed over five years.
5. The costs of buying a property can’t be claimed as deductions.
6. You can only claim interest as a deduction for the part of your loan that relates to your rental property.
7. Capital works can be claimed at 2.5% of the cost for 40 years.
8. You can’t claim deductions for periods when you’re using the property yourself.
9. If you co-own, declare income and claim expenses according to your legal ownership.
10. When you sell, be sure to work out if you make a capital gain or capital loss.

Get all the details at www.ato.gov.au/General/Property/In-detail/Rental-properties/Top-10-tips-to-help-rental-property-owners

27/01/2019

Like I said.

Australias top business leaders have privately warned Treasury that property investors are retreating from the housing market due to uncertainty about future negative gearing and capital gains tax policy under a Labor government.

18/01/2019

Labor's 50% Capital Gains Tax increase would give Australia one of the highest rates in the world, hurting around 900,000 everyday Australian investors and our economy.

Australia can’t afford Labor.

21/12/2018

Two reasons why rents will rise
1. Mass shortage of rental properties because there will be fewer people buying investment properties.
2. Someone (i.e. renters) will have to pay for the shortfall to the investor (i.e. investors are not going to sit back and ‘take the hit’ from reduced tax savings so they’re going to look to increase rents to offset their tax breaks that Labor want to remove).

And that’s just how renters will suffer. Home owners lose out too because, with less investors buying property, property prices will lay dormant (or fall) for probably at least a decade ( = recession).

Close to a million NSW households could face soaring rents under Bill Shorten’s negative gearing restrictions — and it’s Labor electorates that top the list of where battlers will be hit.

23/11/2018

SCAM ALERT! Did we call you on your cell phone? Answer – probably not…

There’s a new version of an old tax scam doing the rounds, but guess what scammers, we’re exposing your secrets:

- First, they’ll call with an automated message saying they’re from the “tax department” saying you’re being audited.

- You’ll be asked to select an option to be put through an operator (*cough scammer*) – who says you owe a tax debt.

- If you question the caller or hang up, you’ll likely receive a call back about 30 mins later which “appears” to come from an AFP phone number in Sydney. (For all you detectives, it looks like us. BUT IT’S NOT, the scammers are just imitating our switchboard).

- An “AFP Federal Officer” will then claim you’ll be arrested unless you pay the fine. DO NOT PAY!

Remember - the AFP will NEVER request payment of fines or other monies over the phone.

If you believe you or someone you know might be a scam victim, or have any information, you can report it through SCAMwatch (www.scamwatch.gov.au) or your local police.