Home Loan Warehouse | Expert Mortgage Brokers
Cash is king. It’s a phrase you would have heard many times. In the world of property investment “Cash flow” is king, at least to some investors. Perhaps not every property is suitable for a granny flat but those who have done it make compelling arguments in favour of the use of the minor dwelling […]
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Compliant self managed super funds that remain compliant enjoy significant taxation concessions. 15% tax on the income of the fund 10% tax on the realised capital gains of the fund (held for more than 12 months) All borrowing activity must meet the following criteria: Funds should be borrowed to acquire an asset The asset should […]
The keys to getting a home loan without a deposit are having are really solid income and a clear credit file. Once those two boxes have been ticked your mortgage broker can go over the options with you. The easiest way to get a no deposit loan is to have a family member go guarantor […]
Commonly, young families rely on the incomes of both partners in order to meet household expenses. When calculating your ability to repay a home loan the same is often true, both incomes are needed to meet the banks serviceability criteria. Generally, bank policy around how income can be used and which parts of your income […]
Subject to certain exceptions (mentioned below), the following table sets out the concessional cap for the income years indicated: Income year Amount of cap 2008-09 $50,000 2009-10 $25,000 2010-11 $25,000 2011-12 $25,000 2012-13 $25,000
Increase in the charge percentage for Super The Superannuation Guarantee (Administration) Amendment Act 2012 incrementally increases the charge percentage from 9% to 12%, phased in from 1 July 2013 to 1 July 2019, as shown in the following table. Year Rate (%) 2013-14 9.25 2014-15 9.5 2015-16 10 2016-17 10.5 2017-18 11 2018-19 11.5 […]
A superannuation fund that wishes to benefit from the taxation concessions in the Income Tax Assessment Act 1997 (ITAA 1997) is required to satisfy certain provisions contained in the Superannuation Industry (Supervision) Act 1993 (the SIS Act) and the Superannuation Industry (Supervision) Regulations 1994 (the SIS Regs). One such requirement is that the fund must […]
Superannuation is commonly, though not always, provided by means of a superannuation fund. Broadly, a superannuation fund is a fund, or trust, established for the purpose of providing superannuation benefits (either in a lump sum or as a periodic pension). A superannuation fund has a trustee and beneficiaries, with the latter usually referred to as […]
Superannuation is a specially designed long-term savings system, with the benefit that the savings will predominantly be used for retirement. In recent decades, the Australian Government has encouraged the use of superannuation in order to reduce the dependence of older Australians on the age pension.
Residents: Individuals benefit from the: • Tax-free threshold in the progressive income tax rate scale for residents (apportioned if a part-year resident) • 19% rate band in the income tax rate scale • Tax offsets (e.g. the means-tested private health insurance rebate) Non-Residents: Individuals pay income tax at special rates (without the benefit of a […]