Holzworth News - Page 8 of 9 - Holzworth Partners

4 Jul 2023

Pace is Gaining in Housing Market Recovery

The national Home Value Index (HVI) assembled by CoreLogic has recorded a third consecutive monthly rise. The index captured continued growth in May of 1.2%, helped by low levels of available housing supply as owners continued to hold properties. By comparison, home values for March and April grew 0.6% and 0.5%, respectively. Notwithstanding the high uptick in price recovery, most housing markets across the country were still recording values well below their recent peaks. The

3 Jul 2023

Ensuring the Completeness of Your Tax Return for a Smooth Process

By Jane Purnell

As we approach the tax season, the Australian Taxation Office (ATO) has released a statement that they would like to remind taxpayers to exercise caution and avoid rushing the lodgement of their annual income tax return from 1 July. It is important to note that taxpayers who submit their returns before their income statement is marked as 'Tax ready' and before their other pre-fill information is received run the risk of experiencing processing delays and

14 Jun 2023

2023 TAX STRATEGIES

By Jane Purnell

Investors and Small Business Superannuation Contributions There are important issues to be aware of regarding your contributions to superannuation this year. These will affect all those under 75 years of age making contributions to their superannuation for the 2022/23 financial year. Claim a tax deduction on your after-tax contributions. From July 2017, most individuals under 75 may claim a tax deduction for superannuation contributions made from their after-tax savings. Talk to us and we can

14 Jun 2023

2023 TAX STRATEGIES

By Jane Purnell

Individual Salary & Wage Earners Deductions you can claim When completing your tax return, you're entitled to claim deductions for selected expenses, most of which are directly related to earning your income. To claim a work-related deduction: You must have spent the money yourself and not have been reimbursed; It must be directly related to earning your income; and, You must have a record to prove it. *N.B. If the expense was for both

1 Jun 2023

Queensland eConveyancing Mandate in 2023

By Jane Purnell

Electronic conveyancing (or eConveyancing) is mandatory in Queensland from 20 February 2023. This means that certain instruments and other documents for property transactions will need to be digitally prepared, signed, settled and lodged using an Electronic Lodgement Network (ELN), by a subscriber, unless exempted. This includes transfers, mortgages, caveats (new, withdrawal), priority notices, and transmission by death. Under the Electronic Conveyancing National Law (Queensland), the Registrar of Titles can determine the requirements for Electronic Lodgment

4 May 2023

Does the latest house price data point to recovery?

By Jane Purnell

Entering the market now presents an opportunity to acquire investmentproperty prior to any price rises. 2022 delivered a year’s worth of price declines.However, the opening months of 2023 have brought hope of a property market recovery. Values have stabilised, auction clearance rates are up and motivated buyers have been active. Experts are predicting value growth in major markets over the next two years. Demand has recovered and places a floor under prices A lack of

4 May 2023

Direct property among the best performing asset classes of 2022

By Jane Purnell

Only two asset classes achieved returns greater than 10% in the past year. It was deemed as the worst annual period in the past 20 years for many asset classes, says IndexInvest investment managers. The best performances came from direct property and commodities which returned 11% and 17% respectively in 2022. It is worth noting direct property was the best performer of all asset classes over the past 20 years, returning an average 10.2% annually

4 May 2023

Why the role of property in portfolios is expected to increase even further in 2023 according to ‘Indexinvest’ investment managers

By Jane Purnell

By Jane Purnell After a period of strong capital gains across all asset classes, the current decade would be more likely to see a far lower contribution of total return (which includes capital growth and income), given the established relationships between interest rates, inflation, leading economic indicators and corporate earnings which signalled falling profitability in the second half of 2023 and beyond, according to IndexInvest Investment Director Mark Holzworth. To further explain, Talaria Asset Management

14 Apr 2023

Smoke Alarm Requirments

By Jane Purnell

All residential properties in Queensland will require to have compliant smoke alarms to be installed prior to settlement of the property. Under Clause 7.8 of the Contract, the seller must install smoke alarms in any domestic dwelling on the lot in accordance with the Smoke Alarm Requirement Provision. Failure to do so is an offence under the Fire and Emergency Services Act 1990. The seller is obliged to have these installed on the

14 Apr 2023

What are your rights when settlement is delayed?

By Jane Purnell

In Queensland, the Settlement Date is an essential term of the contract and time is of the essence. It is the date and time set by the seller (Vendor) in the Contract of Sale, for when the buyer (Purchaser) will officially take legal possession of the property. Settlements can be delayed for many reasons, from financial issues or documentation delays to problems with the property and it is important to know your rights especially