Housing market sentiment lifts in Q1 2014

House price expectations

The quarterly Australian residential property survey by National Australia Bank indicated housing market sentiment lifted slightly in Q1 2014 as sentiment improved in SA/NT and NSW, but softened in Victoria and WA. The outlook for house prices strengthened in all states except Victoria, with Queensland showing the biggest gains in the next 1-2 years. A big pick up in foreign buying activity was noted in the market for new property (especially in Queensland) and for established housing (especially in NSW). In terms of total demand, foreign buyers now account for just over 1 in 7 new properties and around 1 in 10 established homes.
(more…)

Are buyer’s agents fees tax deductible?

Are buyer's agents fees tax deductible

With the ATO paying more attention to property investors we thought it prudent to cover one of the most common questions posed to us here at BAG, are buyer’s agents fees tax deductible? In short it depends on the services rendered that compose the buyer’s agent fees.

The most common service that clients wish to know whether or not the buyer’s agent fees are tax deductible for, is when they have engaged and paid an entity or person to find them a suitable property to purchase. (more…)