Chinese buyers are getting ready to flock back into Australia’s ‘cheap’ property market – with one city emerging as their clear favouriteJohn Karasmanis
Chinese have ranked Australia as their number one destination to buy property, with 27% of tourists telling Chinese portal Juwai they’ll consider buying a property on their next overseas trip.
Of the Australian cities, Melbourne was ranked by almost half of all Chinese buyers as their top pick. Sydney and Brisbane, with Brisbane singled out for its more affordable market.
After a couple years of declining Chinese activity in the market, renewed interest could lead to a boom in prices, with the depreciation of the Australian dollar securing an 11.1% discount for Chinese buyers.
Australia’s best and worst-performing suburbs of the past five years have been revealed, with new data showing the hotspots that have skyrocketed since 2014 and those that have borne the brunt of the mining downturn.
The figures, released as part of Domain’s latest quarterly house price report, show the top 10 suburbs for houses and units combined, as well as the bottom 10 suburbs for houses and units combined.
Other suburbs with strong growth included units in Adelaide’s inner eastern blue-chip suburb, Norwood; houses in the wealthy Sydney Eastern Suburbs neighbourhood of Vaucluse; units in Noosa Heads, Queensland; and houses in Burradoo, in the NSW Southern Highlands.
Sydney’s property market is set for a new boom with an undersupply of homes predicted to fuel a spike in house prices.
Clearance rates have been sitting above 70 per cent for seven weeks as a limited number of new properties come onto the market. On Saturday, 734 auctions are scheduled for Sydney in the city’s biggest test of the market since Easter.
The auction weekend comes as data released by property analytics firm CoreLogic shows housing affordability concerns remain severe.
The report also reveals the proportion of Australians living with their parents who believe they will still be at home when they are 30 has jumped from one in five to more than a third over the last two years.
CoreLogic’s Asia Pacific research director Tim Lawless said the period of improved housing affordability caused by cheaper house prices was coming to an end.
Electronic signatures have been legalised in Australia to make digital transactions easier. Karasmanis Business Services Group (KBSG) will in the coming month be adopting an electronic signatures service DocuSign, a global leader in electronic signature technology.
Frequently Asked Questions
Here is a brief summary what you need to know about DocuSign.
Electronic signature, or eSignature, has been legalised in Australia since 1999 through Electronic Transactions Act. This legalisation validates an electronic signature to contracts between legally competent parties who reach an agreement – verbally, electronically or thru a physical paper document.
A fake car salesman who tried to claim several hundred thousand dollars worth of dodgy refunds has been sentenced to three years in jail for tax fraud.
The Queensland man, who registered an ABN in 2010 claiming to run a business in the cafe and restaurant industry, tried to claim over $220,000 in GST refunds he wasn’t entitled to between 2011 and 2015.
When audited by the tax office, the man contradicted his registered business activity, claiming he was in the business of selling cars.
From failing to lodge income tax returns to submitting dodgy work related expenses, we will not tolerate any form of tax crime. The following case studies reinforce that those who deliberately cheat the system will be held to account.
Stop procrastinating and take Action, as in most cases you can achieve a better outcome by having KBSG review your loans.
As an added service we would like the opportunity to review your loans, and other Bank facilities that you have in place on your behalf.
If we cannot achieve a favourable result after our initial review, you will not be charged a fee.
Australian company directors will be required to sign up to a new identification scheme designed to curb illegal phoenixing activity under new laws unveiled by the Federal Government.
The long-awaited director identification numbers (DIN) draft legislation has been released by Treasury, alongside measures to simplify business registration processes. But has as yet not been passed as at this date.
There can be varied sources for some of the myths about tax deductions —pub-talk, BBQ-banter, hairdresser-homilies, what-your-taxi-driver-just-heard and many others. (more…)
“Grandpa, please don’t buy me any birthday, or Christmas presents, instead invest the money for me”.
Assuming an initial investment of $2,000, and Grandpa making regular monthly contributions of $150 with an average return of 5.00% after tax (managed funds, shares etc.), little Sam would have accumulated $67,000 at age 21.
If the monthly contribution was increased by another $50 to $200 a month the accumulated savings at age 21 would be $88,000.
A regular savings plan, because of compounding (e.g. interest on interest) makes a significant difference.
ASIC’s Money Smart site has a calculator that shows the outcome of making an initial deposit and then regular set and forget monthly payments.
Try out different scenarios based on your situation. [ASIC – Compound Interest Calculator]