Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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The top two highest priced properties sold this week were in Melbourne, according to RP Data.
A Malvern property of two blocks was the top sale of the week, with the combined properties costing $7,131,510. The property at 39 Mayfield Avenue alone sold for $4,865,000.
It comes with a five-bedroom cottage with a floodlit north/south tennis court in established gardens. There were the three bidders, according to James Buyer Advocates attendee Adam Woledge.
{yoogallery src=[images/stories/may9camberwell]}
The second highest sale of the week was 35 Broadway, Camberwell (pictured above), which was auctioned by Jellis Craig agent Alastair Craig. Caversham, a 1902 Federation house, was marketed by Steve Burke and Andrew Wilkie of Jellis Craig.
“A much-anticipated auction, this one as the property was a rare offering – an original home with fantastic bones on excellent land size and prized north-facing rear,” Melbourne buyers’ agent Mal James says.
James says there were six bidders at the hotly contested auction.
“There was a genuine buzz in the crowd – you could feel it – and many prominent local agents turned up to watch. Thankfully the rain stayed away and in front of around 100 people in the pretty front yard garden setting, auctioneer Alastair Craig was in his element and conducted an entertaining, spirited auction,” he says.
“The auction opened swiftly with a crowd bid of $2.7 million and was announced on the market not long after at $2,910,000. It didn't take too long for bidding to reach the $3 million mark and then limped along in a series of mixed bids to eventually slow down at around the $3.3 million mark. From there the auction limped along mainly in series of $1,000 bids until it was eventually bought by the original bidder at $3,425,000.”
The other top 10 properties comprised two more in Victoria, three in New South Wales, two in Queensland and one in WA.
1. 39 MAYFIELD AVENUE, MALVERN, VIC, 3144, five-bedroom house, sold at auction on May 5 by Kay &amp; Burton South Yarra for $7,131,510
2. 35 BROADWAY, CAMBERWELL, VIC, 3124, four-bedroom house, sold at auction on May 5 by Jellis Craig Real Estate Hawthorn for $3,425,000
3. 9A/5 THORNTON ST DARLING POINT, NSW, 2027, three-bedroom unit, sold at auction on May 2 by Raine &amp; Horne Double Bay for $2,901,000
4. 9 THE PROMONTORY, NOOSAVILLE, QUEENSLAND, 4566, three-bedroom house, sold on May 2 by Dowling &amp; Neylan Real Estate for $2.8 million
5. 53 THE PENINSULA, NOOSAVILLE, QUEENSLAND, 4566, four-bedroom house, sold on May 2 by Dowling &amp; Neylan Real Estate for $2.7 million
6. 38 SUSSEX STREET, BRIGHTON, VIC, 3186, four-bedroom house, sold before auction on May 5 by Hodges Brighton for $2,525,000
7. 81 STEWART STREET, PADDINGTON, NSW, 2021, three-bedroom house, sold at auction on May 5 by McGrath Estate Agents for $2,365,000
8. 51a WILLIAM STREET, BRIGHTON, VIC, 3186, three-bedroom house, sold at auction on May 3 by Buxton Brighton for $2.2 million
9. 34 BUNDOCK STREET, RANDWICK, NSW, 2031, five-bedroom house, sold at auction on May 5 by Laing + Simmons Kingsford for $2.2 million
10. 4 COLUMBA PLACE, PEPPERMINT GROVE, WA, 6011, five-bedroom house, sold at auction on May 5 by Acton Dalkeith for $2.15 million
 
 
 
 
 
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Pool-less Camberwell runs second to Malvern big splash top seller: RP Data

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No equity capital has been raised by A-REITs since March 2011. This is in stark contrast with 2009-10, when almost $17 billion of equity was raised to restore balance sheets. As new equity was issued at a significant discount to net tangible assets (NTA) and not offered as rights issues, this equity was dilutive for existing unit holders. 
For the past year, share buy backs have been a common capital management strategy among A-REITs. Conducting a share buy back when shares are priced at a discount is an effective way to increase NTA. 
In order to fund these buy backs, most A-REITs have undertaken asset sales. This has amounted to $1.1 billion of domestic asset sales and $12 billion of offshore asset sales since the beginning of 2011. Among those conducting the asset sales programs have been: 
<ul>
<li>Westfield Group, which has sold $1.2 billion of non-core assets in the United States. It proposes to buy back up to $1.9 billion of shares of issue, although has conducted only 0.3% of this target to date;</li>
<li>Dexus, which will use part of the proceeds of the sale of a $750 million portfolio of US industrial assets to fund its $200 million buy back;</li>
<li>Stockland has sold $972 million of office and industrial assets this financial year in pursuit of its residential, retail and retirement asset strategy. A portion of the proceeds are being directed to an on-going buy back programme of approximately $675 million;</li>
<li>GPT which is selling its Homemaker assets for a reported $195 to extend its buy back from 5% to 10% for approximately $550 million. </li>
</ul>
Other assets up for sale include GPT’s share in Sydney’s MLC Centre with a value of approximately $750 million; a 50% share in three of Centro Retail Australia’s prime assets worth approximately $665 million and Investa’s interest in its $200 million office asset at 231 Elizabeth Street, Sydney. 
Australian assets worth approximately $3.7 billion are reported to currently be on the market for sale by A-REITs.
Mark Wist is senior asset consultant at <a target="_blank" title="Atchison Consultants" href="https://www.atchison.com.au/">Atchison Consultants</a>.
 
 
 
 
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A-REITs have sold $12 billion worth of assets since the beginning of 2011

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Quest Serviced Apartments will operate a new property in Frankston, Victoria after signing a lease with development partners the Deague family’s Asian Pacific Group.
The $50 million project will refurbish the Nepean Highway complex known as the Peninsula Centre.
There will be 81 serviced apartments within the 150-apartment RotheLowman-designed building, which is expected to be completed in early 2013.
Quest chairman Paul Constantinou says the deal Quest was part of the group tapping into the greatest growing demand, which has been in regional and suburban locations.
“Quest’s expansion into Frankston is part of the company’s accelerated growth strategy, which will see it double its new property openings to 15 per year,” he says.
“We’ve built a solid association with The Asian Pacific Group, having partnered with them on other successful developments including Quest Hawthorn and Quest East Melbourne in Victoria and Quest Potts Point in NSW,” Constantinou says.
Quest Serviced Apartments, which was established in 1988, has more than 140 properties in Australia, New Zealand and Fiji. It caters for corporate travellers, who make up 80% of revenue.
Frankston City mayor Brian Cunial says the people of Frankston have been waiting a long time for the Peninsula Centre to be redeveloped.
The Quest part of the redevelopment is worth $30million of the total $50 million.
 
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jchancellor-FAypfDUnLy

Quest to operate serviced apartments in RotheLowman-designed Frankston property 

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There are 10 Perth suburbs with median house prices below $300,000 according to Real Estate Institute of Western Australia statistics. Medina had the cheapest houses, $32,500 cheaper than the median in the second-cheapest suburb, Parmelia.
<table width="328" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td valign="bottom" nowrap width="83">
Suburb
</td>
<td valign="bottom" nowrap width="245">
Median House Price (December 2011)
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="83">
<a target="_blank" href="/news">Medina</a>
</td>
<td valign="bottom" nowrap width="245">
$232,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="83">
<a target="_blank" href="/news">Parmelia</a>
</td>
<td valign="bottom" nowrap width="245">
$265,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="83">
<a target="_blank" href="/news">Hillman</a>
</td>
<td valign="bottom" nowrap width="245">
$269,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="83">
<a target="_blank" href="/news">Brookdale</a>
</td>
<td valign="bottom" nowrap width="245">
$270,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="83">
<a target="_blank" href="/news">Calista</a>
</td>
<td valign="bottom" nowrap width="245">
$270,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="83">
<a target="_blank" href="/news">Armadale</a>
</td>
<td valign="bottom" nowrap width="245">
$275,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="83">
<a target="_blank" href="/news">Camillo</a>
</td>
<td valign="bottom" nowrap width="245">
$280,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="83">
<a target="_blank" href="/news">Orelia</a>
</td>
<td valign="bottom" nowrap width="245">
$280,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="83">
<a target="_blank" href="/news">Cooloongup</a>
</td>
<td valign="bottom" nowrap width="245">
$285,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="83">
<a target="_blank" href="/news">Leda</a>
</td>
<td valign="bottom" nowrap width="245">
$290,000
</td>
</tr>
</tbody></table>
Source: REIWA
 
 
 
 
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The 10 Perth suburbs with median house prices under $300,000: REIWA

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According to the Australian Tax Office, 825,284 of the 1,10,922 property investors in Australia in the 2009-10 financial year made $80,000 or less per year.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/atomay2.gif"><img src="/images/stories/atomay2thumb.gif"></a>
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About 74% of property investors in 2009-10 made less than $80,000 a year: ATO

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The Housing Industry Association expressed disappointment that the federal budget missed the opportunity to reinvigorate new home building activity and alleviate the nation’s housing affordability pressures.
HIA senior economist Andrew Harvey says it contained nothing to address the ongoing weakness in residential building.
“At a time when new home building is in decline in virtually every state and territory, the budget has failed to deliver any new measure to reinvigorate the home building sector, despite the sector’s health being absolutely crucial to a healthy domestic economy,” says Harvey.
He did welcome the tight budget retaining its existing commitments to the Housing Affordability Fund and the National Rental Assistance Scheme.
He also welcomed the continued investment in training and skills.
“However, the budget was an opportunity to introduce measures to progress housing supply-side reforms with the states and territories, reduce the excessive tax burden on new housing, and expand and extend existing measures aimed at boosting housing supply,” says Harvey.
“The federal government has now been working with the states and territories on housing supply and affordability reform, through COAG, for two and a half years.
“After such a protracted period it is reasonable to have expected the federal budget to include sensible measures to boost housing supply, for example arrangements to help the states and territories remove residential stamp duties on new housing.
“Without dedicated housing policy measures and housing supply-side reforms the residential building sector will continue to act as a drag on the macro-economy and the nation’s growing housing shortage will continue to place undue pressure on the household budgets of home buyers and renters,” Harvey says.
 
 
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Federal budget 2012 a lost opportunity to reinvigorate home building sector: HIA

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Almost $20 million will be spent over four years to provide business and finance training to newly-qualified tradespeople in order to help them start their own businesses. 
The $19.4 million boost builds on the $3 billion invested over six years in last year’s budget, through the Building Australia’s Future Workforce package. 
Grants of up to $5,000 will be available for 500 people in 2012-13, and then 1,000 people each year from 2013-14. 
People can apply for a grant within two years of completing a trade-related apprenticeship. 
According to Minister for Skills, Chris Evans, the new funding will ensure more tradespeople – early on in their careers – get the skills they need to run their own businesses. 
“It will also allow those completing their apprenticeship to access funding to cover the cost of training to improve their business-related skills – something which can be critical to the success of small businesses,” Evans said in a statement. 
Meanwhile, the government is reining in its Australian Apprenticeship spending to encourage higher retention rates in non-National Skills Needs List occupations. 
It’s hoped this will increase the completion incentive for employers to commit to the training of apprentices. 
The government will discontinue the $1,500 standard employer commencement incentive payment for existing worker Australian Apprentices in non-National Skills Needs List occupations. 
However, it will increase the standard completion incentive by $500 to $3,000. 
The change recognises that employers do not face the same level of upfront cost or risk when starting an existing worker in an apprenticeship.
 It also increases the incentive for them to support those employees through to the completion of their training. 
The government will also move the standard commencement payment made to employers for all apprentices, from being paid three months after commencement to six months after commencement.
This article originally appeared on <a target="_blank" href="https://www.startupsmart.com.au/">StartupSmart</a>.
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Federal budget 2012: Grants for young tradespeople to start their own businesses

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In about 21 days middle-income Australians will suddenly discover the full extent of the blows that have been reigned down on them in the 2012-13 budget.  I have always believed that the carefully crafted government attack on middle-income Australia, which was also evident in the 2011-12 budget, is a key, but unstated reason why Julia Gillard is on the nose with big chunks of the electorate. And they have done it again.  The budget documents show that middle-income Australia will have $1.26 billion ripped out of their pockets in 2012-13 by the means testing of private health insurance subsidies. The taxman plans to write to Australia’s middle class and inform them of their fate in about three weeks. In theory the middle class can abandon private health cover, but if they do their Medicare levy will skyrocket so most will stay in private cover, especially given the poor state of public health facilities in many areas.  According to the budget, for a single person the private health subsidy starts dropping when they earn just $84,000 and by the time they get to an income of $130,000 it’s all gone. For families, the figure doubles so it is single middle-income Australia who will be the biggest contributors to the $1.26 billion middle class impost.  The carbon tax will rip around $7.7 billion (including accrued income) out of Australian households and companies, mainly via higher power charges. Lower income people will be more than compensated but the middle class pays close to the full carbon tax, which will be included in their expected increase of 38% in power prices over the next years. (In the vicinity of 7 to 10% of the rise in carbon taxing). In the schoolyard, parents who have combined income below $112,000 with two children will be celebrating the kids' bonuses of $820 for a secondary student and $410 for primary school students - it’s a carbon tax/MRRT dividend. Children whose parents are in the middle class get nothing. The same applies to various family allowances. The middle class will have $370 million extracted from its pocket over the next three years as a result of changes to their medical expense claims, and those with large amounts on deposit will forego $795 million by the decision not to proceed with the 50% tax discount on interest income. In income taxes, the tax free threshold jumps from $6,000 to $18,200, but after that the next $18,800 is taxed at 19% (previously 15%), and between $37,000 and $80,000 the tax take rises from 30 to 32.5%.  Welcome to middle income Australia. You just keep paying.  Many people in middle income Australia have been concentrating on getting their mortgages under control ,but they are often well below where they want to be in superannuation savings with balances under $500,000. Part of the reason for this has been the poor sharemarkets.  They were going to be allowed to put an additional $25,000 (total $50,000) into superannuation in 2012-13 and be taxed at 15%. It’s been deferred for two years, so in 2012-13 they can only contribute $25,000. That deferral raises $580 million in 2012-13 and $730 million in 2013-14.  When it comes to the 2013-14 and 2014-15 budgets, the Treasurer may find that the mineral resources tax has raised nothing like the $4 billion that they are forecasting, assuming the sharemarket outlook for commodity prices is correct.  So the government of the day will be scrambling for money and abandonment of the additional $25,000 will be almost certain. Wayne Swan believes his surplus budget will lower interest rates. But much of the rise in expenditures has merely been deferred – it’s not really a cut – and it’s anticipated that income will keep steaming ahead by about 10% a year.  Yet two of the biggest contributors to income – the carbon tax and the claimed mineral resources tax revenue – are both measures that the Opposition has pledged to drop.  So this is not a sustainable surplus and should not affect interest rates. Those in the middle class with mortgages will get little or no relief from the budget.
This article originally appeared on <a target="_blank" href="https://www.businessspectator.com.au/">Business Spectator.</a>
 
 
 
 
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rgottliebsen-VjLFh9nsD4

Federal budget 2012 rips into middle-income Australians' pockets: Robert Gottliebsen

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And everyone thought this was going to be a tough budget. It was a piece of cake, really – Wayne Swan hardly had to employ any smoke and mirrors at all. Just do a bit of pea-and-thimble shuffling of spending out of 2012-13, and revenue in, both forwards and backwards, forecast a bumper 11% increase in tax revenue, and – hey presto! – watch me pull a surplus out of my hat.
That’s right, tax receipts are going to grow by 11% in 2012-13, according to this budget, including company tax up 9% and personal tax up by 8%. On top of that, there’s an extra $5.6 billion from resource rent taxes and $4 billion from the carbon tax. 
This is, at its core, a big-taxing, big-spending budget, including a big increase in welfare. It is the budget of an unpopular government approaching an election, not one that’s tightening the belt.
According to Budget Paper No.2 – Budget Measures, “expense measures” in this budget actually increasespending by $201.2 million.
There are a total of 284 separate increases in spending in the budget, ranging in size from $100,000 (a new Remote Jobs and Communities Programme) to $911 million (continuing “Operation Slipper” in Afghanistan).
On top of that, about $1.6 billion in spending was pulled forward from 2012-13 into 2011-12: $1.1 billion has been thrown at local councils this year in grants that were due to be paid in 2012-13, and another $500 million has been pulled forward by replacing the Education Tax Refund with a “Schoolkids bonus”.
In total, welfare payments, including the school kids bonus and the extra family welfare, go up by $4.8 billion.
Meanwhile the revenue measures in this budget add up to $1.7 billion in extra revenue, but they’re mostly just deferrals of tax cuts and special dividends.
The higher cap for super contributions has been deferred ($580 million more money in 2012-13), the company tax cut has been scrapped ($302 million), another $121 million will be pulled out of super by implementing the so-called “SuperStream” reforms, and $200 million will be yanked out of the Export Finance and Insurance Corporation as a special dividend and a $100 million one-off dividend from the Australian Reinsurance Pool Corporation. Oh, and there’s $127 million from cigarettes and tobacco excise.
Tax receipts usually grow by about 8% a year, thanks to fiscal drag (taxpayers moving into higher marginal brackets), but this year’s increase is a blockbuster 11%. Yes, it’s about $6 billion less than forecast six months ago but that was just a silly forecast.
Is the new one silly as well? Probably, but we won’t really know for 18 months.
Iron ore and coal companies aren’t expecting to pay any MRRT, so the $3.5 billion budgeted from that in 2012-13 looks dodgy, and the rest of the increase depends on economic growth of 3.25% and on the companies that are due to pay the carbon tax continuing to spew out greenhouse gases at the same rate, rather than doing something about it to avoid tax.
The important thing is that, thanks to the budgeted $33.4 billion increase in tax revenue, the government doesn’t have to cut spending and can actually increase it. I know they will tell you that spending is, indeed, being cut, but don’t believe it.
One of the curious things in this budget is that it assumes a cut in staff numbers for the Commonwealth public service of 3,073 to 258,563, or 1.2% – not much, but better than the big increases of previous years. A third of the cut is in the Australian Taxation Office, which is supposed to be losing 1,039 staff, and half the rest is just casual census collectors moving off the books.
Yet the budget also says $378 million is going to be provided to the ATO over four years so it can increase its collection of tax debts, increase its GST collections, and fight tax evasion.
That investment is budgeted to provide a return of $2.4 billion over the forward estimates – six times the investment – but you would think it won’t result in a staff cut of more than 1,000 people in the ATO, if they are supposed to run down that much more tax.
This article originally appeared on <a target="_blank" href="https://www.businessspectator.com.au/">Business Spectator.</a>
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Federal budget 2012: A big taxing, big spending budget: Alan Kohler

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We were promised a Labor budget and we got one, at least Labor in its modern sense of a managerialist party that still faintly remembers the old nostrums of equity and opportunity that form what’s left of its core values. 
If we had a genuine budget process that didn’t involve systematic leaking of major initiatives, one suspects the reporting of this budget would be very different. Between aged care reform, the dental program, a start to a national disability insurance scheme and additional welfare (let’s call it what it is) for low-and middle-income earners, there’s plenty of “Labor” initiatives – although some credit will have to be shared with the Greens. Moreover, unlike big-ticket items like the carbon pricing package or the mining tax, one suspects the aged care reforms and the NDIS will be left intact by the Coalition. 
Despite all that, the budget is scheduled to be back in surplus, albeit virtually a rounding error, without too much pain except from high-income earners, the foreign aid lobby and business, which has seen its promised 1% tax cut vanish before its eyes. The surplus also comes at the cost of Labor’s credibility on personal tax reform, to the extent that anyone remembers the government’s insistent rhetoric about making life easier for taxpayers last year. 
Labor will also be hoping that no one notices that this year’s deficit has blown out yet again by another $7 billion, something else that has helped it get that magical black figure for next year. Some commentators keep talking about the size of the fiscal turnaround between this year and next, forgetting that in fact the two are closely related – Wayne Swan has been busy shifting payments into this year from next, knowing neither the media nor the electorate will pay much attention to it. 
But none of that – putting aside the static of brothel-visiting union officials and accused speakers – is likely to cut through for any sort of turnaround for Labor. It’s more of the same that we’ve got from the government ever since the financial crisis receded – steady, unspectacular, and in my view sound management in an environment where revenue is hard to come by and ministers in spending portfolios have to curb their ambitions. Labor is a prisoner of a mining boom that began, pre-GFC, as a vast tax machine, but has now turned into a vast investment machine, dedicated to expanding resources capacity at the expense of taxable profits. Meantime, more traditional sectors like manufacturing continue to struggle. The impacts on tax revenue will be felt for years to come. 
Labor hopes the extra money flowing to low- and middle-income earners is enough to assuage the electorate’s hostility to the carbon price and that broken promise. The party hopes it’s enough to turn angry, resentful voters into voters at least willing to listen to Labor’s story about how it’s managed the economy through a difficult period pretty well and why the Opposition is all over the place on fiscal policy and economic policy more broadly. The carbon compensation ultimately is the political compensation for years of poor communication by Labor. 
What Labor wouldn’t give for just one year of the conditions Peter Costello enjoyed before the financial crisis, where the main challenge each budget was to find new ways to spend extra revenue. But this is Labor’s economic lot; the party may well rue its luck, just as it rued its luck in entering office on the eve of a financial catastrophe, but you manage the economy you’re given. Swan has been a bland but responsible Treasurer, and history will ultimately offer a fairer judgment of his economic legacy than voters certainly will. But that will be of no comfort to Labor MPs facing a wipeout next time they go to the polls.
This article originally appeared on <a target="_blank" href="https://www.crikey.com.au/">Crikey</a>.
 
 
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