Front Cover: 35 Kramer Drive Berwick
The team at First National Neilson Partners have been recognised for outstanding achievement amongst Australia’s top offices of 2022 at First National’s National Awards ceremony held in Hobart in May.
Guest presenter Dave Hughes (Hughsey) kept the crowd of more than 600 entertained at what turned out to be First National’s largest convention in the network’s history.
National Chairman, David Lovell, said that ‘It was truly inspiring to witness the level of competition among the agents in the running for our national awards, which reflects the exceptional talent within our network.’
The winner of The Kaye Heath Memorial Award was Neilson Partners’ very own Allison Holzer. The network’s highest honour celebrates Allison’s long-term contribution to property management and the First National Network.
Lily Thompson won National Business Development Manager of the Year and Shannon Hynd was named Investor Relations Manager of the Year for Commercial Property Management.
‘Surprised and humbled to be the recipient of First Nationals highest honour, the Kaye Heath Memorial Award, said Allison.
‘To share the limelight with amazing colleagues who have also earned both individual and team awards is a moment of pride for me and the whole Neilson Partners family’ she said.
Office awards were presented to Narre Warren Property Management for the Highest Gain of Properties Under Management and Berwick Lifestyle Sales for the Highest Exclusive Listings and Settled Sales.
Here are some highlights from the 2023 First National Convention.
First National Real Estate Hobart National Awards Allison Holzer Kaye Heath Award winner
Ben, Maddy and Zino at the Aussie BBQ
Buying your first home is an exciting milestone, but it can also be a daunting task. Rest assured that there is support available to help you every step of the way.
Homes seem to cost so much more than they did when our parents bought them, though government assistance is greater now than ever and one of the ways the Government is helping first home buyers is with the First Homeowner Grant. If you are buying a new home or building your first home valued up to $750,000 you may be eligible for a one-off payment of $10,000 to help towards the cost. The home must be brand new and never occupied and must not have been previously sold.
First home buyers may also be eligible for First Home Buyer Stamp Duty Exemption, Reduction or Concessions.
If your home has a dutiful value of $600,000 or less, you will not pay any stamp duty on home purchases. If the home value exceeds $600,000 and is below $750,000 you may be eligible for the First Home Buyer Duty Concession. You must live in the home for a 12-month period, commencing within 12 months of settlement to be eligible.
If you have a 5% deposit, the Victorian Government may contribute up to 25% of the purchase price of a home in exchange for an equivalent share in the property.
Conditions apply. You must be 18 years or older, an Australian citizen and the purchase of vacant land is not eligible. The purchase price must be below $950,000 in Melbourne or below $600,00 in regional Victoria.
Over time, those participating in this scheme are required to ‘buy back’ the Governments share by refinancing, using savings or when the property is sold.
Navigating the home-buying process is overwhelming, and the Neilson Partners team of real estate professionals are a great resource, with a wealth of knowledge about the local market. With support available every step of the way, buying your first home doesn’t have to be stressful.
At this time of the year Commercial Landlords who have deferred or waived commercial rent, including bankruptcy or insolvency rent variations, should consider Tax implications.
Instances where tax implications might occur include:
• You give or have given a rent waiver or deferral to your tenant
• Your tenant can’t pay their rent, including where their obligation to pay is varied or released under bankruptcy or insolvency law. This could be by way of:
o Personal insolvency agreement
o Debt agreement under the Bankruptcy Act 1966
o Deed of company arrangement
If you give your tenant a rent waiver or deferral or they cannot pay, including where their obligation is varied or released under a bankruptcy or insolvency law, the income you must declare, deductions you can claim, and your GST and CGT obligations depend on the following:
• Your existing agreement with your tenant has changed or a new or additional agreement has been created
• Your accounting method, which is either:
o Cash method of accounting, which recognises income when it’s received
o Accrual method of accounting, which recognises income when earned, instead of when payment is received
Your income tax and GST position may be affected if you give a rent waiver or the obligation of your tenant to pay is varied or released under bankruptcy or insolvency law.
Cash accounting - When you agree to give a rent waiver to a tenant, you don’t include rent that is never collected, including any waived amounts, in your assessable income.
If you account for GST on a cash basis, you only pay GST on the amount of rent you receive. If you waive rent, you don’t need to pay the GST on the waived amount because you haven’t received it.
If you agree to give a deferral or rent is deferred under bankruptcy or insolvency law, you only include the rent in your assessable income when you receive it. If you account for GST on a cash basis when you agree to give a deferral, you will not need to report GST for the deferred rent until you receive it.
There are no capital gains tax (CGT) consequences if an existing agreement between a landlord and tenant is changed without payment or other consideration. If a new or additional agreement is created, there may be CGT consequences.
Make sure you speak with your accountant for advice based on your own circumstances.
1.20%
124,397 498
AVERAGE VACANCY RATE ONLINE VIEWS APPLICATIONS RECEIVED
