Newsletter

2022 September 6th – Your Finance News

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In this newsletter we look at the impact of the Queensland governments changes to land tax for investors who hold property assets in both Queensland and other states or territories.

The RBA have handed down the September cash rate outcome. An increase was expected by most, is this the last for a while?

As always, if you have any other questions regarding your current loans or future finance needs, feel free to email advice@equityvision.com.au or click the button below to book an appointment.
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The Queensland government has introduced changes to Land Tax which will impact investors who hold property assets in both Queensland and elsewhere in Australia.

From the 30the June 2023, multiple investment property owners will have their land tax calculated on the total combine value of their land holdings.
The total value will then be used to calculate the rate of land tax applied by the Queensland government.

For example, if an individual investor holds a property in Victoria valued at $1,000,000 and a second property in Queensland valued at $500,000, the Queensland land tax will be calculated using a formula on the combined value and as a result the land tax bill will be approximately $4,250. 
This is a significant increase over the land tax payable in 2022 which in this instance would have been zero as the Queensland property value is under the threshold.
Note: Companies and Superannuation funds are charged at a different rate.

The nomination of other land holdings outside Queensland is voluntary, however, there are significant penalties in place for non disclosure.

There’s no other state or territory that charges state land tax based on the value of properties held across Australia and outside the jurisdiction where the tax is collected.

This change is likely to influence multi property investors to turn their back on Queensland.

If you would like to know your investment property borrowing capacity, or simply have a conversation to explore your options, please contact the EquityVision office on 03 8372 0775, email advice@equityvision.com.au or book an appointment using the button below.
 
Book an appointment
 
RBA Cash Rate

27 out of 30 economists surveyed by Bloomberg got it right. They predicted that, during this months meeting, the RBA would lift the cash rate by a further 0.50% to 2.35%.

Inflation is the key driver of the RBA decision. Unemployment is at record low levels and consumer spending remains high as cost of living pressures bite into cash flow.
This data suggests previous RBA rate hikes are yet to hit demand significantly, however we are starting to receive calls from clients who have concerns about how high rates may go and the impact on their capacity to manage mortgage repayments.

House prices fell in July and August as buyers retreated from the market, taking time to re-assess the opportunity to buy. The fall in prices, and for investors the rising yields, being offset by the increase in borrowing costs.

The RBA has signalled it may now slow the pace of its tightening to allow time for previous increases to impact.
Whilst we can’t predict the future, we can share with you over 20 years of experience to help guide your buying and refinancing decisions.

If you would like to discuss your loan options, please contact the EquityVision office on 03 372 0775, email advice@equityvision.com.au or book an appointment using the button below.
Book an appointment
We have recently updated our business Facebook, Instagram and Linkedin pages.
Our business is built on referrals from our clients, for users of these platforms, we would love for you to click the links below to follow our pages, stay in touch, and to refer your friends and family.

Kind regards,
The team at EquityVision 
Your Mortgage and Finance Brokers
Suite 6 / 296 Bay Road Cheltenham VIC 3192
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Michele Mansfield (CR No. 399836) and Alisha Perry (CR no. 502031) are credit representatives of Buyers Choice Licencing Pty Ltd (Australian Credit License No. 509484).
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