Latest News | Hughes O’Dea Corredig

Affordable housing measures passed while market continues to cool

The sustained cooling of house price growth has seen first-home buyers flocking back to the market. Prices are no longer rising thanks to a number of factors including improved supply, and clampdowns on investor lending. A significant outcome of overheated property prices has been that a crucial toe-hold in the property market has been elusive...

Jan / Feb 2018 – Practice Update

Further ‘affordable housing’ measures passed Parliament has passed the legislation allowing first home buyers to save for a deposit inside superannuation through the First Home Super Saver Scheme (FHSSS), and also allowing older Australians to ‘downsize’ and then contribute the proceeds of the sale of their family home into superannuation. From 1 July 2018, a...

December 2017 – Practice Update

December 2017 – Practice Update Tax legislation passed The Government has passed changes to the tax legislation that will limit, or deny, deductions for travel expenses and depreciation claims for certain residential premises. Legislation to impose vacancy fees on foreign acquisitions of residential land has also been passed. ATO relief for SMSFs reporting ‘transfer balance...