Posts by Mike Mortlock
New effective life legislation from the ATO – TR 2013/4 in effect from 1 July 2013
On the 26th of June 2013, the ATO withdrew the taxation ruling TR 2012/2. This outlined the effective life of all qualifying plant and equipment depreciating assets. The new and excitingly named TR 2013/4 ruling is in effect from the 1st of July 2013 and includes some changes to existing depreciating assets and the addition of…
Read MoreHome Insurance Shortfalls and the Impact of Recent Natural Disasters in Australia
Recent events in Australia have shown the devastation that natural disasters are capable of. Between the Queensland & Victorian floods and the NSW bushfires, Australians have come to see just how important adequate home insurance is. These disasters have also highlighted an epidemic of under insured home owners in Australia. Let’s take a look at…
Read More5 Things you need to know about depreciation this tax season
It’s that time of year again when accountant’s offices are a hive of activity with shoeboxes of receipts being dumped on desks and excel sheets being deciphered and dutifully turned into tax deductions. For property investors, the tax season should be a time where a little bit of knowledge and planning results in some significant…
Read MoreThe average house that achieved over $3,000 worth of depreciation deductions in 59 days
At MCG we occasionally see some astonishing tax depreciation deductions, like the penthouse in Cremorne Point which returned over $170,000 in its first full year of claim, but even an average house can return amazing, yet every-day deductions. Consider a property in Goulburn built in May 2012 and purchased brand new for $315,000 (the above picture is…
Read MoreRBA Lowers Cash Rate to 2.75% – May 2013
At its meeting today, the Board decided to lower the cash rate by 25 basis points to 2.75 per cent, effective 8 May 2013. The minutes of the meeting are as follows below: The global economy is likely to record growth a little below trend this year, before picking up next year. Among the major…
Read MoreThe property market in Darwin – Still a hotspot?
I thought I’d take a look at a property market that’s been getting a lot of press lately: Darwin. This property market has been attracting a lot of attention based on the fact that capital gains within the Darwin housing market have been outperforming the broader capital city average since early 2004. It’s easy to…
Read MoreRBA Meeting Minutes March 2013 – Construction Activity
The RBA’s March 2013 meeting minutes were issued today and with respect to the property market, the minutes stated “non-residential building approvals remained low and office vacancy rates had risen over recent quarters, reflecting softening demand for office space.” Members also observed that “dwelling construction activity had picked up further in the December quarter. Forward-looking indicators…
Read MoreConsumer House Price Expectations Index Moderates in January 2013
The Westpac-Melbourne Institute Consumer House Price Expectations Index moderated in January, all but reversing a spike in October. The Index indicated that 26.7% of respondents expect house prices to rise over the year ahead. This is a fall of 7.7pts from October, following a rise of 9.1pts between July and October. This reversal of consumer’s…
Read MoreRBA December 2012 Meeting Minutes point to subdued investment and labour market
The minutes for the December 4 Board meeting give three key reasons why the Board decided to reduce the cash rate by a further 25bps.
Read MoreMCG on Property Observer Today Discussing Phase A Depreciation Estimates
We’re on Property Observer today discussing Phase A Depreciation Estimates and how they can be used by developers and sales agents to help market a development. You can view the full article on our blog or via Property Observer here: http://www.propertyobserver.com.au/depreciation/understanding-phase-a-depreciation-estimates-and-how-they-can-save-you-money-mike-mortlock?utm_source=po&utm_medium=aida&utm_campaign=observers
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