Hi Everyone. I usually try to summarize myself a few economic every month, to keep on top of things and I have decided it could be a good idea to share this content.
US real estate price finally recover
It was reported that the famed US Case-Shiller index now records house prices as having finally moved above their 2006 peak.
Case-Shiller’s index enjoyed a spectacularly bubbly run over the two decades running up to 2006, with prices all but quadrupling over that time, but it’s been a very different story since the sub-prime crisis erupted.
And nationally prices at long last eclipsed the previous peak seen in July 2006, albeit very marginally.
Sales were down for both detached houses (-8.2 per cent) and multi-units (-9.2 per cent).
According to a Fairfax report, figures from both NAB and Westpac have confirmed that guarantor loans are becoming increasingly common. The loans see parents or close family members provide their property as security for a home loan, eliminating the need for a deposit.
NAB told Fairfax guarantor loans had risen from 4.8% of all new loans in 2010 to 6.7% last year. A Westpac spokesperson also told Fairfax that the number of guarantor loans through its St.George subsidiary had risen 9% in the last year.
A study by UBank has found 25% of borrowers are experiencing stress due to their home loan repayments, the Daily Telegraph has reported. The study found borrowers were sacrificing holidays, social events and time with family in order to meet their mortgage payments.
According to the Daily Telegraph, 56% of the survey’s respondents said they had missed out on time with their children to earn more money to meet home loan repayments, while 54% said they had sacrificed a family holiday due to financial pressures. Around 59% said they had cut a family holiday short because of financial strain due to mortgage repayments.
- When was the property purchased by the transferor
- Before 19/09/1985 or
- After 19/09/1985
- Why is the transfer necessary .. at this time
- Is there a better result when transferred throuh a will
- What is the Capital Gains tax status of the recipients/transferee
- Stamp duty implication to be paid by the transferee
- Centrelink implications for the transferor – where they are of pension age
- Legal/conveyancing fees for transfer
To better understand the implications of CGT when gifting and transferring property it is important to start with understanding the basics of how capital Gains tax works. Click the link below for the fact sheet we have prepared on the PTS website http://
For case studies and examples of the implications on transferring or gifting property or just adding names to title click the link below to the fact sheet we have prepared on our website