McGrath South West NSW**

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Bay | Mollymook

How to prepare for a new financial year

Even with an accountant, organising your tax return is not fun or easy. But if you’re an existing homeowner or planning to buy a home soon, it literally pays to start forward thinking for a new financial year sooner, rather than later.

I’m a big proponent of reserving some time every week of the year to arrange your property’s receipts, income statements, bills and similar. You can utilise whatever arrangement works for you, whether that’s storing paperwork in envelopes or folders or using an Excel spreadsheet on your computer; but you should have hard and soft copies of every detail. Either way, using this “pay as you go” system means you won’t get lost in an end of financial year mountain of paperwork.

Well before June 30 every year, you should also note down several important dates and details. Existing home owners should use this period to conduct a performance review of your property and consider your priorities for the next financial year including repairs and maintenance. Refinancing now can ensure lower interest rates, as well as smart inclusions such as offset accounts.

First home buyers forward thinking for a new financial year should study government schemes and concessions as these can change on June 30, with new ones also beginning. More experienced potential buyers should prepare to settle on a home before this date so that you can enjoy a range of tax breaks. Even a few days of home ownership before this date can make a big difference to your tax return.

Home loan pre-approvals are popular in this period as well so buyers should expect lender delays. But this delay can be a silver lining as you should consider your current tax return and your expected earnings in the new financial year before applying for a pre-approval. If you expect to earn a lot more in the latter period, this change will increase your borrowing capacity, so you may want to wait to complete your tax return for the new financial year before approaching a lender.

EOFY tax benefits

The best reason to forward think for a new financial year are the tax breaks, which for property investors, can be significant. You can claim deductions for rental income, home loan interest, and rental expenses including utility bills, body corporate and property management fees, council rates, and landlord insurance. You can also claim tax deductions on refinancing costs and some of your property’s capital works. Long-term, you can enjoy the tax benefits of asset depreciation, negative gearing and the 50% capital gains tax discount.

But to enjoy these benefits, you’ll need to provide the Australian Tax Office or your accountant with all your property paperwork such as rental income receipts, rental expense bills, home loan and settlement statements, and copies of your sale contract.

The tax deductions for existing owneroccupier home owners are admittedly small. But if you’re renting out part of your property or working from home, a portion of your utility bills and other expenses can be claimed as a tax deduction. So too can any items you purchase for your home office or rental space, such as a desk chair or printer, and you can also claim depreciation on these assets and items. Just remember to save the receipts for these items to include in your tax return.

Don’t let the cold snap freeze your property goals.

If you would like to know more about the current property market or would like to discuss own your property goals, please contact one of our offices.

12 Gregory Street, Batemans Bay 2 beds 1 bath 1 car

SALE

Price Guide $589,000

View as advertised or by appointment

Agent Luke Allan 0412 159 593

Kylie Allan 0415 980 330

70 Wyoming Avenue, Burrill Lake

beds 3 baths 4 cars FOR SALE

Price Guide $1,290,000

View as advertised or by appointment

Agent Kirsty Schultz 0429 433 526

4 Hayward Street, Conjola Park 3 beds 2 baths 2 cars

SALE

Price Guide $1,450,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

4

SALE

Price Guide $620,000 $649,000

View as advertised or by appointment

Agent Kirsty Schultz 0429 433 526

40B

3 beds 2 baths 1 car

SALE

Price Guide $679,000

View as advertised or by appointment

Agent Greig McFarlane 0412 725 505

Luke Allan 0412 159 593

476 Croobyar Road, Croobyar 4 beds 2 baths 8 cars

Price Guide $1,700,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

Stephanie Ash 0458 000 253

SALE

Price Guide $350,000

View as advertised or by appointment

Agent Jessica Parker 0455 590 004

Kirsty Schultz 0429 433 526

beds 3 baths 2 cars

SALE

Price Guide $1,675,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

78 Burri Point Road,

beds 2 baths

AUCTION Saturday 6 September 12.00pm

Price Guide On Request

View as advertised or by appointment

Agent Luke Allan 0412 159 593

Kylie Allan 0415 980 330

Wallaroy Drive, Burrill Lake Land
102 Canberra Crescent, Burrill Lake Land
Melaleuca Crescent, Catalina
2 Stewart Street, Conjola Park
Guerilla Bay

47 Grandfathers Gully Road, Lilli Pilli

3 beds 2 baths 2 cars FOR SALE

Price Guide $1,750,000

View as advertised or by appointment

Agent Luke Allan 0412 159 593

Kylie Allan 0415 980 330

15 The Rampart, Manyana 3 beds 1 bath 3 cars FOR SALE

Price Guide

$1,400,000 - $1,500,000

View as advertised or by appointment

Agent Kirsty Schultz 0429 433 526

30b Corks Lane, Milton 4 beds 2 baths 2 cars FOR SALE

Price Guide

$1,500,000

View as advertised or by appointment

Agent Stephanie Ash 0458 000 253

Andrea Tucker 0402 487 887

34 Clyde View Drive, Long Beach Land FOR SALE

Price Guide $895,000

View as advertised or by appointment

Agent Luke Allan 0412 159 593

Kylie Allan 0415 980 330

67 Windward Way, Milton 4 beds 2 baths 4 cars FOR SALE

Price Guide $2,900,000

View as advertised or by appointment

Agent Kirsty Schultz 0429 433 526

28 Davies Street, Mollymook 4 beds 3 baths 1 car FOR SALE

Price Guide $2,200,000 - $2,400,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

Kirsty Schultz 0429 433 526

25 Sunset Strip, Manyana 4 beds 2 baths 1 car FOR SALE

Price Guide $3,500,000 - $3,800,000

View as advertised or by appointment

Agent Kirsty Schultz 0429 433 526

9 Drury Lane, Milton 4 beds 2 baths 2 cars FOR SALE

Price Guide $1,350,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

Stephanie Ash 0458 000 253

3 - 5 Shepherd Street, Mollymook Land FOR SALE

Price Guide On Request

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

17 Shipton Crescent, Mollymook

7 beds 5 baths 2 cars FOR SALE

Price Guide $8,000,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

13 Turner Street, Mollymook

3 beds 1 bath 1 car

FOR SALE

Price Guide

$1,100,000- $1,200,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

Sophie Eriksson 0408461960

12 Beach Road, Mollymook Beach

7 beds 4 baths 4 cars

FOR SALE

Price Guide On Request

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

Stephanie Ash 0458 000 253

9 The Green, Mollymook Land FOR SALE

Price Guide $550,000

View as advertised or by appointment

Agent Kirsty Schultz 0429 433 526

Lot 1,2,3,15,16,17,19,20,21, 11 Matron Porter Dr, Mollymook Beach Land FOR SALE

Price Guide $475,000 - $600,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

84 Mitchell Parade, Mollymook Beach

4 beds 3 baths 1 car

AUCTION Saturday 30 August 1.00pm

Price Guide On Request

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

Stephanie Ash 0458 000 253

84 Golf Avenue, Mollymook 6 beds 4 baths 4 cars FOR SALE

Price Guide $4,500,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

Stephanie Ash 0458 000 253

20 Mison Circuit, Mollymook Beach Land FOR SALE

Price Guide $585,000 - $625,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

Stephanie Ash 0458 000 253

8 Garside Road, Mollymook Beach

3 beds 2 baths 1 car FOR SALE

Price Guide $1,300,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

Stephanie Ash 0458 000 253

31 Oxley Crescent, Mollymook Beach

5 beds 3 baths 2 cars FOR SALE

Price Guide

$1,300,000 - $1,400,000

View as advertised or by appointment

Agent Stephanie Ash 0458 000 253

Andrea Tucker 0402 487 887

114 Seaspray Street, Narrawallee

8 beds 4 baths 2 cars

FOR SALE

Price Guide $1,590,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

Stephanie Ash 0458 000 253

5 Amaroo Drive, Rosedale Land

FOR SALE

Price Guide $425,000

View as advertised or by appointment

Agent Luke Allan 0412 159 593

Kylie Allan 0415 980 330

12 Capricorn Avenue,

Land FOR SALE

Price Guide $599,000

View as advertised or by appointment

Agent Kirsty Schultz 0429 433 526

191 Matron Porter Drive, Narrawallee 4 beds 2 baths 2 cars FOR SALE

Price Guide $1,200,000 - $1,300,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

Sophie Eriksson 0408461960

460 Beach Road, Sunshine Bay

5 beds 4 baths 4 cars

FOR SALE

Price Guide $1,150,000 - $1,250,000

View as advertised or by appointment

Agent Greig McFarlane 0412 725 505

13 Callemondah Close,

4 beds 2 baths 2 cars FOR SALE

Price Guide $1,395,000

View as advertised or by appointment

Agent Kirsty Schultz 0429 433 526

Lot 320, Bay Ridge Dr,

FOR SALE

Price Guide $469,000

View as advertised or by appointment

Agent Luke Allan 0412 159 593

Kylie Allan 0415 980 330

62 Cook Avenue, Surf Beach

5 beds 3 baths 4 cars FOR SALE

Price Guide $959,000

View as advertised or by appointment

Agent Kylie Allan 0415 980 330

Luke Allan 0412 159 593

Narrawallee
Narrawallee
North Batemans Bay Land

21 Kauzal Crescent, Surf Beach 4 beds 2 baths 2 cars FOR SALE

Price Guide $1,350,000

View as advertised or by appointment

Agent Kylie Allan 0415 980 330

Luke Allan 0412 159 593

2162

FOR SALE

Price Guide $1,350,000

View as advertised or by appointment

Agent Luke Allan 0412 159 593

Kylie Allan 0415 980 330

FOR SALE

Price Guide $449,000 - $525,000

View as advertised or by appointment

Agent Greig McFarlane 0412 725 505

FOR SALE

Price Guide $525,000

View as advertised or by appointment

Agent Greig McFarlane 0412 725 505

FOR SALE

Price Guide $650,000

View as advertised or by appointment

Agent Kirsty Schultz 0429 433 526

Andrea Tucker 0402 487 887

FOR SALE

Price Guide $489,000

View as advertised or by appointment

Agent Greig McFarlane 0412 725 505

46 St Vincent Street, Ulladulla Land FOR SALE

Price Guide $1,500,000

View as advertised or by appointment

Agent Andrea Tucker 0402 487 887

Stephanie Ash 0458 000 253

FOR SALE

Price Guide $415,000 - $435,000

View as advertised or by appointment

Agent Greig McFarlane 0412 725 505

1/1 Boree Street, Ulladulla 3 beds 1 bath 1 car FOR SALE

Price Guide $600,000

View as advertised or by appointment

Agent Stephanie Ash 0458 000 253

Andrea Tucker 0402 487 887

George Bass Drive, Tomakin Land
Lot 102-108, Clifford Parade, Tuross Head Land
Lot 102, Clifford Parade, Tuross Head Land
Lot 107, Clifford Parade, Tuross Head Land
Lot 510-512, Monash Avenue, Tuross Head Land
8A Colden Place, Ulladulla Land

44 Princes Highway, Ulladulla 4 beds 2 baths 2 cars

FOR SALE

Price Guide $1,050,000 $1,150,000 View as advertised or by appointment

Agent Stephanie Ash 0458 000 253

Andrea Tucker 0402 487 887

How to buy your dream home at auction.

With auction clearance rates holding steady in a busy auction market, a growing number of buyers are starting to hone their bidding skills to win their dream property.

There’s much more to successfully bidding for a property than turning up and raising your hand. So, below, we have listed seven tips for buying at auction.

WATCH AND LEARN

It’s a great idea to attend a handful of auctions to get a feel for them. You’ll learn how auctioneers approach their task, and how prospective buyers respond. Sometimes, bidding becomes competitive and that’s when you have to keep a level head.

RESEARCH VALUES

To avoid overpaying, you need to work with agents and use websites to establish the likely value of a home that’s coming up for auction. Without doing this work, you’ll have no idea whether you’re about to snare a bargain or pay over the odds.

ON THE MONEY

It’s vital you have a pre-approved loan before bidding at any auction. If you’re successful, you’ll be expected to put down a deposit and proceed with the transaction. Failure to do so can lead to legal action.

SERIOUS INTENT

If you’re targeting a property, you should organise a building inspection before the auction to limit risk. Consider services like BeforeYouBid that turn around inspections quickly.

STRATEGY IS CRITICAL

Never wing it. Have a bidding strategy and spending limit, which should be determined by the amount a lender has pre-approved. Always stick to your strategy whether bidding is fast or furious or slow and cautious. If you don’t trust yourself, ask a friend or agent to bid for you.

FIRST-MOVER ADVANTAGE

If you’ve found your dream property, you should make an offer before it goes to auction. Occasionally, the owner will be happy to avoid the stress of auction day and accept if the price is right.

REGISTER YOUR INTEREST

You need to register to participate in an auction. So, turn up a few minutes early to do the paperwork and maybe chat with the agent about the degree of interest in the auction and the mood of the seller. All information is valuable!

Kait
Stephanie
Kirsty

Batemans Bay (02) 4472 1488

Mollymook (02) 4455 6988

Guiding you home

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