02 9522 3000 john@hunterwood.com.au
John Manciameli handed a letter to the Prime Minister of Australia

John Manciameli handed a letter to the Prime Minister of Australia

I personally handed a letter to the Prime minister of Australia On Friday night 7th December 2018, I did something I have never done before. I personally handed a letter to the Prime Minister of Australia. The letter below was written on behalf of my 15,000+ colleagues in the mortgage brokering industry and all the clients I disappointed this year because of the Royal Commission into Banking Misconduct. On behalf of all mortgage brokers in Australia, I am sorry if you had your home loan aspirations affected by this Royal Commission. The good news is the mortgage brokering industry has banded together and started exerting pressure to find a middle ground where lending kicks starts again. To all my colleagues in finance, if a humble mortgage broker in the suburbs of Sydney can find his way to the prime minister, may I encourage you to take up the call to arms from the MFAA/FBAA to contact your federally elected member. Feel free to to copy and paste the letter I wrote below. Your clients need you, our industry needs you, Australia needs you. PS – that really is box of Pannetonne I handed our prime minister!   Dear Scott Thank you for taking the time to read this letter. My name is John and I am a humble mortgage broker working in Sylvania Waters, Sydney. I speak on behalf 16000+ mortgage brokers whom act on the dreams and aspirations of hundreds of thousands of ordinary Australians. The Royal commission into banking has had unintended consequences on Australians. I thank you in advance for the opportunity to bring what’s happening...
What can property investors deduct at tax time?

What can property investors deduct at tax time?

It’s that time of the year again when investors can save thousands of dollars by being savvy with deductible items on their property. From insurances to renovations, there are various items investors are eligible to claim, however many of these items can be easily missed by those without the right knowledge or an informed accountant. It’s also worth remembering that to claim a deduction, you must be able to show how much was spent, how you worked out its value, and the way the expense was calculated. Here are some common ways to minimize your tax bill. Property staples With every property purchase there are numerous staple items which are deductible regardless of the type of property. These include council rates, water rates, strata, and pest control. Insurances are also deductible including landlord’s, building, contents and public liability insurance. If you work with a property manager or real estate agent, these costs are also deductible including fees, commissions, letting fees, as well as statement and admin fees. Further to property staples, are the ongoing repairs and maintenance costs, which are likely to vary year on year depending on the work required, and age of the property. These include plumbing, electrical, handyman costs, or any supplier who aims to repair the functionality to your property. Travel can also be deductible for the owner to carry out or inspect the property, or where the sole purpose for the trip relates to the property, for instance collecting rents. Many investors should also look at claiming interest on their mortgage or loan, as it can often be the largest tax deduction within a...
Why you should consider investing outside of your home state

Why you should consider investing outside of your home state

Buying a property can be an emotional task, particularly if you’re planning on living in it and making it your home. However when it comes to investing, it is beneficial to remove that emotional attachment and look at the facts. Although you may know and live in a particular state or city, that does not necessarily make it the best investment opportunity. The Australian property landscape is extremely dynamic and diverse, ultimately presenting an array of investment opportunities. Focus on the figures Australia is not one homogeneous market, but rather a series of sub markets. The below graph illustrates how Sydney, Melbourne and Brisbane’s property markets have performed independently over the course of 20 years. Experts suggest Brisbane is a strong growth market based on the difference in median house prices which have risen from an 8.9 per cent difference to Sydney in 2009 to 86 per cent difference to Sydney in 2015.   Source: “Onwards and upwards or down and out? Where to from here?”, CoreLogic RP Data, 2015.   Many property owners could be forgiven for thinking that the whole country is experiencing similar market conditions to Sydney and Melbourne. When in actual fact, while Sydney and Melbourne markets are softening, other locations are gaining momentum. Do your research Any investment opportunity requires you to do your homework. “The most important thing is to do your research and build up your knowledge of particular geographical areas that appeal,” says Tony Brasier, president of the Real Estate Institute of Australia. ”If you invest interstate, it’s a long-term investment, not a short-term one. Taking a seven to 10 year...