As Sydney house prices continue to soar, the dream of owning a home becomes more distant. Many people struggle to raise the necessary funds to contribute to a deposit and for payment of stamp duty and are considering alternative options to increase their chances of buying a property. With properties in Brisbane half the price…
With a median house price over $1 million, Sydney is Australia’s most expensive city to live in. It doesn’t help that first home buyers are being priced out of the market and face strong competition from foreign investors and home buyers with built up equity in their existing properties. The recent stamp duty changes for…
Stamp Duty is the most expensive purchase cost affecting home buyers. On a property with a purchase price of $800,000.00, the total stamp duty payable is approximately $31,510.00. It surpasses legal fees, mortgage fees, removalist costs and is often the deal breaker for home buyers when deciding on a property. For first home buyers…
Over the past 5 years, there has been extensive coverage in the media about Sydney’s housing affordability crisis. With ever-increasing property values and soaring rental prices, more Sydneysiders are opting to invest in property with the goal of renting the property out. One of the sweeping reforms announced in the 2017 budget was the Vacancy Tax….
With the growing number of blended families, the need for parents to financially assist their children and stepchildren in purchasing property, the aging group of baby boomers, the growing number of Self-Managed Superannuation Funds and aging family businesses, Australians are experiencing a significant increase in the number of family provisions claims and contested estates. Statistics…
What is a Testamentary Trust? The implementation of a testamentary trust in your estate plan allows you to set up a method of managing the income and capital of your estate for the benefit of minors and beneficiaries, ensuring that your assets and wealth are protected in the future. A testamentary trust will come into…
If you have been left out of a Will or unfairly provided for, there are just and valid reasons for contesting a Will. At the time, will makers may have been ill-advised on their duty to adequately provide for their dependents or they may have failed to properly consider their legal and moral obligations to…
Estate Planning Questionnaires Whether you are a financial planner, accountant or advisor, estate planning is always an important topic to cover with your clients. A common problem advisors experience which limits their ability to create long lasting client relationships stems from asking the wrong questions. In this article, we ask you to re-consider whether you…
Introduction The proper use of testamentary trusts can offer many benefits and flexibility in managing generational wealth transfers, including tax benefits for distribution to minors. However, the consequence of getting a “simple will” or failing to obtain the right advice to assist with the implementation of drafting the terms of the testamentary trust is often…
Over the past few years we have seen an explosion in construction in NSW for apartments or townhomes being sold as off the plan property i.e. before they have even been built. The main benefit that comes with purchasing off the plan property is that a purchaser can secure a property at the current market price…
