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Reianews Issue 87: May 2019

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Reianews Issue 87: May 2019 REIANEWS ISSUE 87: MAY 2019 FEDERAL ELECTION 2019 IN THIS ISSUE FEDERAL ELECTION 2019 FACT SHEETS FOR FOREIGN INVESTORS OF AUSTRALIAN RESIDENTIAL REAL ESTATE AUSTRALIAN WOMEN’S LEADERSHIP SYMPOSIUMS MORE WANT TO FIND OUT ABOUT PROMOTING YOUR BRAND IN REIA NEWS? CONTACT REIA ON 02 6282 4277 OR AT [email protected] FOR FURTHER INFORMATION. Mr Adrian Kelly REIA President PRESIDENT’S REPORT Welcome to the May edition WELCOME of REIA News. FROM REIA’S Coming on the heels of the 2019 PRESIDENT Federal Election this month‘s REIA News features an article on REIA’s campaign during the election. This month’s edition also contains articles for foreign investors in Australian real estate and the Australian Women’s Leadership Symposiums . Mr Adrian Kelly REIA PRESIDENT Follow us on Twitter @REIANational Getting your customers Fixed rate loans with 100% offset plus additional repayments into the home they want up to $20K p.a. with no penalty. is satisfying. A basic loan with no monthly fees. Knowing you got them a Market leading bridging finance. loan loaded with features And that’s just the start of what we offer. takes that feeling to a Brokers, to get your customers (and yourself) to a better place, whole new level. call us on 1300 791 679 or visit brokers.adelaidebank.com.au You’ll be in a good place too. brokers.adelaidebank.com.au Adelaide Bank a Division of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL/Australian Credit Licence 237879. (1282840-1282833)(03/19) Getting your customers Fixed rate loans with 100% offset plus additional repayments into the home they want up to $20K p.a. with no penalty. is satisfying. A basic loan with no monthly fees. Knowing you got them a Market leading bridging finance. loan loaded with features And that’s just the start of what we offer. This article is brought to takes that feeling to a Brokers, to get your customers (and yourself) to a better place, FEDERAL you by REIA President whole new level. call us on 1300 791 679 or visit brokers.adelaidebank.com.au ELECTION Mr Adrian Kelly 2019 You’ll be in a good place too. Last month I wrote to you about the upcoming 2019 Election and the approach REIA was going to take to dispel the myths surrounding negative gearing and pointing out the potential economic impacts of changes to negative gearing arrangements. At the time I surmised that At the end of the campaign the 2016 To dismiss REIA’s position as one housing affordability and taxation figures were shaded by those for 2019. of vested interest is unfair. As a arrangements for housing were going The response has been excellent with profession we are interested in to be key issues in the upcoming a reach of nearly 11 million or over a strong economy. The property Federal election campaign. That 2 million per week of the campaign. sector is an integral component of certainly was the case. Not a single a strong economy. All Australian REIA was greatly assisted by its day went by without coverage in have a vested interest in a robust state based member Real Estate the media and parliamentarians on economy. Our messaging was Institutes and a number of franchise both sides of Parliament debating based on independent analysis and groups in sharing REIA’s message the issue. The high and consistent to construe that the real estate through their networks and agency level of media coverage, including profession suffers from falling house front page, together with the databases which was instrumental prices or higher rents is misguided, commentary and debate beneath in achieving the results. it is homeowners and renters that the REIA’s daily posts confirmed the Whilst it is impossible to be definitive shoulder hose consequences. importance of the issue of property on the impact of the campaign The REIA was, and continues to taxation as a major election issue it is clear our campaign played be, opposed to the policy but I outlined the social media campaign an influential role in the election we are a political body that does that REIA was going to take of daily outcome. With only 80% of all votes not endorse political parties nor postings of short videos on Facebook, counted at the time of writing, there is oppose political parties. We have Twitter and Instagram and wrote a clear correlation between marginal a duty to champion our policies that in a similar campaign in 2016 electorates with high numbers of which we will continue to do. we reached an average audience investment property owners and a of 120k per week achieving a total higher swing towards the Government reach of almost 1 million people. than the national average. Without doubt, millions of Australians The media have been running were unaware of the proposal to commentary about the role that REIA’s restrict negative gearing and to double campaign played with some even capital gains tax before the election suggesting that it was inappropriate for brokers.adelaidebank.com.au was called, or what the impacts of such us to do so and that we were merely a change could mean for the economy. serving our own vested interests. Adelaide Bank a Division of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL/Australian Credit Licence 237879. (1282840-1282833)(03/19) Protect your client’s rental property and income Landlord insurance from just $1 a day* Terri Scheer is Australia’s leading landlord insurance specialist, offering protection for your client’s rental property from risks that standard building and contents insurance may not cover. Loss of rent Malicious and accidental damage by tenants Theft by tenants Flood, storm and water damage Damage by pets May be fully tax deductible Call 1800 804 016 or visit terrischeer.com.au Australia’s Leading Landlord Insurance Specialist *Across Australia, 71% of Terri Scheer customers paid $1 or less a day for their Landlord Insurance Policy. Premium is based on all Terri Scheer Landlord Preferred and Landlord Self-Managed Insurance policies purchased or renewal in the 12 months 01/03/16 to 28/02/17, inclusive of taxes. Conditions and legibility criteria apply. Consult your tax advisor in relation to tax deductibility of premium. Insurance issued by AAI Limited ABN 48 005 297 807 AFSL 230859 trading as Vero Insurance. In arranging your insurance, Terri Scheer Insurance ABN 76 070 874 798 AFSL 218585 acts under authority given to it by Vero Insurance. Read the Product Disclosure Statement before buying this insurance and consider whether it is right for you. Call 1800 804 016 for a copy. Protect AUSTRALIAN TAXATION OFFICE your FACT SHEETS FOR FOREIGN INVESTORS OF AUSTRALIAN client’s RESIDENTIAL REAL ESTATE rental We have recently published two fact sheets to help foreign owners property and investors of Australian residential real estate meet their foreign investment obligations in Australia. and The Vacancy fee return: fact sheet The Australian Government introduced MORE INFORMATION for foreign owners is available the annual Vacancy fee in December For more information about the in English, Chinese traditional 2017 as part of the comprehensive Vacancy fee, visit the ATO website and Chinese simplified. housing affordability plan. It requires income at ato.gov.au/vacancyfee or foreign owners of residential The Residential property investment: watch the live webinar recording dwellings in Australia to lodge an fact sheet for foreign owners is from September on atoTV. annual Vacancy fee return if they: also available in English, Chinese You can also find more information traditional and Chinese simplified. • made a foreign investment application for residential about investing in Australian The fact sheets detail important property after 7.30pm AEST residential real estate in the steps foreign persons must take on 9 May 2017, or Residential property investment: fact * when they own, invest or are Landlord insurance from just $1 a day • purchased under a New Dwelling sheet for foreign owners. The fact planning to invest in Australian Exemption Certificate that a sheet is available in English, Chinese Terri Scheer is Australia’s leading landlord insurance specialist, offering protection for your client’s rental residential real estate, including: developer applied for after traditional and Chinese simplified. property from risks that standard building and contents insurance may not cover. • getting Foreign Investment 7:30pm AEST on 9 May 2017. Review Board (FIRB) approval Vacancy fee returns must be lodged Loss of rent before investing within 30 days of the end of each Malicious and accidental damage by tenants • recording property on the ATO vacancy year. The vacancy year is Theft by tenants Land and water register usually the 12 month period from the Flood, storm and water damage • lodging an annual anniversary of the settlement date. Vacancy fee return. Damage by pets The vacancy year is unique to May be fully tax deductible each dwelling held by a foreign owner. Foreign owners must Call 1800 804 016 or visit terrischeer.com.au lodge a Vacancy fee return for each dwelling on their land. Australia’s Leading Landlord Insurance Specialist *Across Australia, 71% of Terri Scheer customers paid $1 or less a day for their Landlord Insurance Policy. Premium is based on all Terri Scheer Landlord Preferred and Landlord Self-Managed Insurance policies purchased or renewal in the 12 months 01/03/16 to 28/02/17, inclusive of taxes. Conditions and legibility criteria apply. Consult your tax advisor in relation to tax deductibility of premium. Insurance issued by AAI Limited ABN 48 005 297 807 AFSL 230859 trading as Vero Insurance. In arranging your insurance, Terri Scheer Insurance ABN 76 070 874 798 AFSL 218585 acts under authority given to it by Vero Insurance.
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