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Bonusisode with Ross Greenwood on the Money News!

Yes you’ve heard it right yesterday! Ben was on the Money News with Ross Greenwood!

Folks, if you haven’t tune in to the Money News yet, do yourself a favor and check out their podcast. We tune in to the Money News almost every day and with multiple highlights throughout the day,  it really helps you to stay up to date to what’s happening in Australia and globally.

>> Tune in on iTunes here

 

So, why was Ben on the Money News show?

Well, as the Chair of PICA and also the one who exposed the data that were used for the proposed Negative Gearing policy, Ben was invited to share some of his findings. 

And the team at Money News has generously allowed us access to the audio to share with you guys! What are you waiting for? Tune in now to find out more.

p.s. Don’t miss out the Q&A session at the 8:30 minutes mark as well! 😉

p.p.s Want to listen to Ross’s full episode? Click here.

226 | Capital Gains Tax 101 with Julia Hartman – Everything You Need to Know About Property Tax (PART 1)

Property Tax… let’s have a real conversation about it folks!

Because if we’re being honest— even with 40-odd years of industry know-how between us (and an accounting degree wedged in there as well) — there’s still a bit of property tax knowledge we could use too.

And if you’ve listened to us for a while now, you’ll also know that, when it comes to tax, we’re only allowed to talk about “Statements of Fact” — as we’re not qualified to give advice in this area.

So it’s GREAT NEWS that today’s guest is absolutely, well and truly, qualified to dish out the Capital Gains Tax, Depreciation Benefits, Trusts, Ownership Structures and ALL of the property tax perks & pitfalls!! In fact she’s SO qualified and willing to share what she knows, that we stole a couple of hours of her time to deliver you TWO EPISODES – today, clearing being Part One.  😉 

Who’s our epic guest?

Oh, “just” The #1 Property Tax Expert in Australia… Julia Hartman!!!

To give you an idea of the calibre of skill set we’re working with here — Julia is the Founder of BAN TACS, a co-operative of Accountants, which has been helping thousands of Australian’s navigate the world of tax since 1992!! She has a Bachelor of Business and is a Chartered Accountant (CA), Certified Public Accountant (CPA) and a Registered Tax Agent.

Ben’s also been admiring her work since “way back in the day” when she first began writing tax articles for Australian Property Investor Magazine, sharing the insights that a lot of property investors out there simply don’t know about.

PLUS, because we knew she was coming, we threw it out there for our listener’s to ask us their most pressing Tax Q’s they have — and Julie’s going to answer plenty of these today and next week.

Today’s round… Capital Gains Tax!!

But, of course, we also had quite the week, including….

  • Federal Budget ANNOUNCEMENT on Tuesday night (2nd April 2019)
  • DATE FOR NEGATIVE GEARING — 1st January 2020
  • RBA Cash Rate Announcement for April
  • Comments on Negative Gearing from Chris Bowen, Shadow Treasurer of the Labor Party, on ABC’s Insiders: The Interview (Listen to ABC’s audio here)
  • And Ben is in Canberra to present at the Housing Panel!!!

… SO we’re going to tackle these guys at the START of the show.

And of course, the Resources mentioned in this episode are:

Today’s Capital Gains Tax (CGT) Questions:

|42:38| Question from Joshua:

If I have purchased a block of land but choose to on sell it prior to settlement, but the new purchaser’s don’t settle, would I be taxed on the 10% deposit the new purchaser pays in the event that they don’t follow through with the sale, leaving me to settle on the land?|

 

|44:13| Question from Brendan:

What is the threshold between claiming all renovations/maintenance in one year, vs having to stagger it over “X” years?

|48:50| Question from John:

If 5 family members own 1 investment property, can the income be all directed to 1 person or must it be 20% each?

|50:34| Question from Alisdair:

Hypothetical question. I have a PPR and I decide to build an extension and use it to rent out, Airbnb or lease to a tenant. Is the deductible percentage based on square metres only? Any other considerations that should be made, such as a common garage? Will the build be able to be depreciated as a capital works deduction? When I sell my PPR, it won’t be without CGT, will it only the same square meterage that is subject to CGT? The answer to these questions makes it clear if it is a worthwhile proposition.

|58:16| Question from Andrew:

When selling an investment property, how does the depreciation you have claimed on the investment property affect how your capital gains tax is calculated?

|1:01:47| Question from James:

Are Stamp Duty and Capital Gains Tax affected for first home buyers when purchasing a property for the purpose of investment vs owner-occupied?  Also, if the property is initially purchased as an owner-occupied property but later turned in to an investment property what is the tax outcome of this both throughout the life of property ownership and when the property is sold (further down the track).

|1:03:37| Question from Karen:

If I move out of my PPOR and turn it into an investment, then sell it after 6 years, how is CGT calculated?

|1:06:27| Question from Josh:

Can I claim any ongoing CGT discounts if I move and rent out my PPOR if I move into a rental myself?

|1:08:09| Question from John:

I will be looking at losing close to $80k on an investment property I have held onto for 12 years. Just wondering how long I can carry this capital loss over for? And how the whole offset process works…. (ie would a $80k profit in the future completely be offset against this loss?)

|1:10:25| Question from Richard:

I recently tried to work out how to calculate Capital Gains Tax that I would pay on an investment property but the ATO’s website made it very hard to do this. Is it just a straight 50% of the profit made OR does it matter how long you hold the property OR does the profit then go into your yearly income and the percentage is worked out that way?

225 | Breaking News with Dr Shane Oliver – Are We in Store for a Global Recession?

Folks, we have a very special guest on today … Dr Shane Oliver, Head of Investment Strategy and Chief Economist at AMP Capital!! (Ben was a bit giddy, ha!)

So, if you’re keen to hear the latest economic news across the property AND stock market, or you want the intel on how the cogs of the economy run … then you’d best hit play on this one!

To give you an idea, Shane Oliver is responsible for determining AMP Capital’s investment strategy and asset allocation and also provides economic forecasts and analysis to the asset class portfolio managers. And chances are, you’ve seen his face somewhere in the news because Shane is also a regular media commentator on major economic and investment market issues and has been with AMP for over 30 years!

And he’s not just an expert on this stuff, he’s also excellent at breaking down complex economic updates into simplified, bite-sized pieces!

Oh, and as mentioned on today’s show, he’s often providing live updates on Twitter, so if you’re keen to get his economic insights his twitter handle is @ShaneOliverAMP

 

Other resources mentioned in today’s show…

(And, don’t forget… CLICK HERE to Find Out About our AFL Competition – Epic Prizes!)

 

So… What are you in for?

 

 

224 | Turia Pitt – From Burned Alive to Investing in Grit, Triumph and Property

Folks, it’s likely that today’s guest — Turia Pitt — needs little or no introduction!

Chances are, her name’s familiar to you… and that’s because Turia became a household name when, at 24, her life was turned upside down when she became trapped in a grass fire while competing in a 100km ultramarathon.

And not only did she manage to SURVIVE the severe burns to 65% of her body… she’s also gone on to absolutely THRIVE in an ultimate story of triumph!

Indeed, Turia has well and truly beaten the odds and is inspiring others all over the country to never lose sight of their goals, dreams or who they are with her 7-step coaching course, School of Champions – a guide to getting unstuck, ditching your excuses, overcoming all kinds of barriers and making things happen. Plus, she’s gone on to deliver some truly brilliant speeches across the globe and is the author of several books, including the newly released The Good Selfie as well as Unmasked and Everything to Live For.

On top of that, she’s also an ambassador for Interplast Australia & New Zealand and to date, has helped raise almost $1 million dollars in donations and $3 million dollars in awareness. Her humanitarian doesn’t stop there, Turia has also been busy working on Haapii, a foundation with the overall aim of providing kids in developing countries with the best educational resources possible!

So, yep… she’s a VERY inspiring lady indeed!

And obviously, we’ve got her on for a few reasons…

  1. Her story is jaw-dropping
  2. Her mindset tips break the Richter scale — (next level lessons to help you here!)

But there’s something else you might not know about Turia…

  1. … She’s also a property investor!


Before we kick off Turia’s mindset hacks, personal story and property investment journey…

 

Just a quick shout out that WE’VE CREATED AN AFL FOOTY TIPPING COMPETITION! And we have some EPIC PRIZES up for grabs!!!

Yes, we know not all our listener folk are fond of our AFL banter… BUT we’ve created an exclusive The Property Couch League for those who want to compete with us this season.

1st Prize….  A tailored Property Portfolio Plan (Value: $4,950)

2nd Prize… A next-step Property Plan (Value: $2,970)

3rd Prize… An Hour Chat with Us (Value: At least $1.20… surely??)

CLICK HERE to Join the Footy Tipping Competition & Get the Chance to Win!

 

And here’s what you can learn from Turia Pitt…

 

Want to learn more about Turia? Follow her on Insta!

 

 

221 | Dr. Andrew Wilson – The Scare Campaign We Had To Have

“Housing markets shouldn’t be leading monetary policy; they’re a response to monetary policy.” — Dr Andrew Wilson

 

Folks, our guest for this week is Dr Andrew Wilson, Chief Economist at My Housing Market, who is sounding more bullish than bearish when it comes to Australia’s property market and overall economic outlook!

To give you an idea, Dr Wilson provides comprehensive property market insights and is a highly-regarded and prolific housing market speaker, as well as a keynote presenter for the Committee for Economic Development of Australia (CEDA) and an appointed housing market expert and adviser to the Federal Government funded Australian Urban Research Infrastructure Network. He’s also a repeat offender on the Couch, gracing us with his invaluable insights all the way back in Episode 87!

Oh, and of course, he also holds a PhD and Masters by Research in Housing Market Economics. Just sayin’.

So if the uncertainty of the property market is sending your confidence out of whack, let’s go up 30ft around the country and see what’s coming up over that hill. You’ll get a sneak peek at some of the regions that might be worth your attention this year, as well as when the interest rate will potentially drop this year, according to the Chief Economist himself.

Spoiler… the Scare Campaign just might lose its edge!

 

While we don’t want to take the limelight from today’s guest… we should probably let you know here too…. The Property Couch Turns FOUR this week!! Yep, it’s our 4th Birthday, wooooooo 🙂

To help us celebrate, you’ve all made Make Money Simple Again, our latest money management book, a #1 Best Seller! So thank you for our awesome gift!!!! (According to Ben, “We’re now officially out of nappies.”)

 

 Here’s What You’ll Learn in This Episode…

  • What’s Happening Around the Grounds In the Australian Property Market?
  • Will confidence shift any time soon?
  • What are Auction Clearance Rates in Sydney demonstrating at the moment?
  • What are the pressing economic insights coming to light at the moment?
  • Why hasn’t monetary policy worked?
  • When does Dr Andrew Wilson think RBA might drop the cash rate?
  • What p[problems are we facing now?
  • What’s going to happen with new developments this year?
  • Have we seen the peak of the apartment boom?
  • How is an interest rate rise a GOOD thing?
  • What’s the current savings-ratio? When was the last time it was this low?
  • What must you focus on in order to get a loan approved?
  • What does Andrew think about the Royal Commission’s findings?
  • How is employment and wage growth feeding into the economic climate?
  • How will the international economy affect Australia’s economy?
  • What’s Dr Wilson’s message to property investing over the next 2 -3 years?
  • Can you expect a roller coaster ride?
  • What’s his opinion on the Negative Gearing Policy?
  • Are developers in favour of the Negative Gearing Policty? Why/Why not?
  • What are the POSITIVES we’re seeing in the market?
  • How many auctions were in Melbourne last week? How many sold?
  • What will likely be the top performing area this year?
  • When’s a good time to think about buying?

 

We also take a trip around every Australian State and Territory in Australia, so expect to find insights into…

  • Predictions for houses and units in each area (GOLD!)
  • In and around Sydney
  • Melbourne and its regions
  • Adelaide
  • Hobart
  • Far North and Central QLD – including, Sunshine Coast, Mackay, Cairns
  • Perth (and what the vacancy rates are suggesting)
  • Darwin

 

 

 

 

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