Australian Tax Office cracking down on holiday home owners wrongly claiming deductions – ABC News (Australian Broadcasting Corporation)

Australian Tax Office cracking down on holiday home owners wrongly claiming deductions – ABC News (Australian Broadcasting Corporation)
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I found a snake in my house, what now?



What not to do when you find a snake in your home

Feb 22, 12:23 PM

Don’t judge a snake by its colours.

snakeThat’s the advice from snake catchers dealing with confused Queenslanders mistaking potentially deadly snakes for more harmless species.

Sunshine Coast Snake Catchers 24/7 took to Facebook this week to remind its followers to always exercise caution if they come across a snake in their home, after being sent a photo of a man holding a small snake by the tail, seeking to get it identified.

They said unbeknownst to him, he was holding a juvenile eastern brown snake.

Brown snakes are among the most deadly in the world, however fatal bites remain uncommon in Australia.

According to the National Coronial Information Service, about 300 people are bitten by snakes in Australia each year, but between 2000 and 2016, only 35 died.

However less…

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The Experts Maximise yields with granny flats (Part one) Bookmark and Share I’m hearing more and more about investors using granny flats to maximise their rental yields. This is an increasing trend occurring in New South Wales as a result of changes to the planning laws back in July 2009. The State Government made the changes to encourage greater supply of affordable housing in a climate of chronic undersupply. It was a clever move and a fantastic win-win idea. With every granny flat built, a new home is made available to tenants, generally at a lower price than an apartment – a big win for tenants. And because they cost very little to build, the yields on granny flats can be well over 10 per cent – so a big win for investors. The new laws made it easier to get approval for granny flats and they also allowed them to be rented out. Previously, granny flats were only allowed for a dependent relative such as a teenager, or obviously, a grandparent. While you can build a granny flat out the back of your home and rent it out positively geared, you can also add a granny flat to an existing investment property to increase the yield. In some cases, adding a granny flat can turn a negatively geared investment into a neutral or positive one overnight (as long as you can find a tenant and there can be issues with this, which I’ll get into later). Granny flats are also cheap to build. I’ve seen advertisements for granny flats, fully installed, for less than $70,000. Obviously, you’ll pay more depending on the size of the flat and how many rooms you put in it. Say you spent $80,000 and rented it out for $250 per week. That’s a remarkable 16 per cent yield. Of course, yields vary nationwide, so talk a local property manager about how much a granny flat in your area typically rents for to determine your potential income. You should also ask them how easy it is to rent them out. Unfortunately, the opportunity to rent out a granny flat is only available in NSW, Tasmania, the Northern Territory and, as of December last year, in the city of Fremantle, Perth. Tasmania and NT have more restrictions in place than NSW, such as the flat having to share connections to essential services with the main house. Here are the basic rules for granny flats in NSW. If you can meet these criteria, you’ll get approval very quickly through a private certifier or your local council: Your block size must be a minimum 450 square metres Your block must have a minimum 12-metre frontage You need a three-metre clearance between the flat and the back fence You need about a one-metre clearance between the flat and the side fence The floor area of the flat can’t exceed 60 square metres The floor area of the flat and the main residence can’t exceed local council restrictions The height restriction is 8.5 metres. Interested? If you do a quick Google search, you’ll find many companies specialising in granny flats. Check out some of the designs and you’ll be pleasantly surprised. Granny flats are no longer drab little cottages; there are plenty of stylish designs available that will appeal not only to you but also to your prospective tenants. Now, there are some risks. I had a chat to our head of network property management, Michael Connolly, who confirms they are seeing a few more clients renting out granny flats in areas where there are larger blocks of land, such as Sydney’s Western Suburbs and Northern Beaches. But he does have a few words of warning. Next week, Michael and I will fill you in on the pros and cons of using granny flats as an investment strategy. We’ll also tell you about our experiences in leasing houses with granny flats attached or on the same lot. Stay tuned and please write to us if you have a granny flat that you’re using for investment – we’d love to hear about your experience.

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Attracting good tenants

Carlos & Linda Debello

Attracting good tenants would have to be one of the main challenges that any property investor faces. First impressions of the property not only help to get potential tenants interested enough to submit an application, but it also helps to get you the top rental price available for your suburb of choice.

Many investment properties are bought at the lower end of the market as is to be expected, with investors looking to capitalise on returns in the long run.

The problem here is that it often brings with it a lower quality of property that looks and sometimes smells like a rental property, not one that someone would pay top dollar to call home.

Your ideal tenant is going to be one that takes pride in your property and will take care of it as their home.

Of course, this doesn’t necessarily mean that you have to spend thousands…

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Upcoming Inspections SATURDAY 10-2-2018

Dear Colleagues,
Upcoming Inspections For Sale
3 / 30 Tamar Street, Annerley
Offers Over $415,000.00
Open: Sat 10 Feb 9:00 AM
View details
Upcoming Inspections For Rent
80 Albert Street, Woodridge
Open: Sat 10 Feb 11:00 AM
3 Bedroom House Close To All Amenities !
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2 Ottawa Street, Westlake
Open: Sat 10 Feb 12:00 PM
3 Bedroom Home situated on a corner block within close proximity to sought-after schools
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26 Daryl Reinhardt Street, Redbank Plains
Open: Sat 10 Feb 1:00 PM
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3 Manor Crescent, Wakerley
Open: Sat 10 Feb 10:00 AM
4 Bed Wakerley Home offering enjoyable lifestyle close to schools, shops, and public transport
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Brisbane takeover?



Could Brisbane Take Over As The Best Performing Capital City Housing Market In 5 Years?

Feb 2

Brisbane is well placed to take over as the best performing capital city housing market over the next five years. Dwelling values across Australia’s third largest capital city have risen at the annual rate of 1.2% of the past decade; that’s half the pace of inflation and dramatically lower than Sydney or Melbourne where annual gains have averaged 6.3% and 5.9% over the past ten years.

Brisbane’s housing market won’t outperform other cities simply because the market has previously underperformed, however the relative gap in pricing between Australia’s largest cities is likely to be one of the factors that attracts housing demand to the city. At the end of November 2017 Sydney house values were 102% higher than Brisbane’s and Melbourne values were 57% higher. Based on median household incomes, Sydney households…

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