Financial News

Here are the answers to some frequently asked questions about changes to the first-home buyer duty concession and exemption, included in the State Taxation Acts Amendment Act 2017 which received Royal Assent on 27 June 2017. 1. What is it? This is an exemption from land transfer duty (commonly known as stamp duty) for first-home buyers who buy a home with a dutiable value of $600,000 or less. First-home buyers buying a home with a dutiable value from $600,001 to…
Prices across some suburbs in Australia’s capital cities have been growing by the equivalent of the price of hundreds of ‘smashed avocados’ in the 12 months to November 2016, according to recent analysis by comparison website finder.com.au. Taking into account the average cost of avocados, comparison website finder.com.au examined recent CoreLogic property price data to rank price growth across suburbs in each of Australia’s capital cities according to a ‘Smashed Avocado Index’. The development of this index comes after controversial…
Millennials buying their first home might be open to new ideas but they really need to think about settling down, says the demographer. KPMG partner Bernard Salt, who sparked the ‘smashed avocado’ debate last year, says he is “optimistic” about the future for first home buyers (FHBs), pointing to Millennials' “agile” thinking as an encouraging factor. However, in order to access the housing market, Mr Salt believes Millennials need to have a long-term vision. Speaking to The Adviser, Mr Salt…
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