Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

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

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The Australian Taxation Office plans to clamp down on self-managed super fund trustees who move their assets around before selling them to avoid capital gains tax.
In a draft ruling issued last week, and open for public comment until September 4, the ATO said that from July 2014, SMSF trustees will have to obtain an actuarial certificate to claim the pension income-tax exemption, or entirely segregate their SMSF fund assets into those that are in the accumulation phase and those that bear liability for their current pension.
Failure to do so could result in the ATO pursuing them under tax avoidance provisions.
Currently, SMSF assets used to pay out pensions are tax-exempt, whereas assets that don’t currently have any pension liability still incur capital gains tax.
The ATO also flagged its concern about trustees moving assets from the accumulation to the pension stage before selling them to avoid capital gains tax.
“If an asset is purported to be segregated [i.e. claimed to be in the pension phase and thus tax-exempt] shortly before disposal, and then disposed of in circumstances where a capital gain is claimed to be exempt income, it will be a question of…whether it was invested or otherwise being dealt with for the sole purpose of enabling the fund to discharge liabilities in respect of superannuation income stream benefits,” the ATO’s draft ruling stated.
The ruling will have broad implications, as most self-managed super funds both distribute pensions and accumulate superannuation, AMP SMSF head of policy and technical Peter Burgesssaid. This can be for multiple members or for the same member if they are still working past the age where they get access to their super.
“What the ATO talked about is if you want your fund to be treated as a segregated fund, you have to ensure that your assets are entirely segregated,” he says.
“They used examples where you could have a property within a self-managed super fund and say a certain proportion of that property is tax-exempt as it’s in the pension stage and the rest is within the accumulation stage, and try to treat the fund as segregated.
“The ATO says they don’t think that suffices. You need to make sure that if it’s a property, it either sits entirely within the pension pool, or you treat it as an unsegregated fund, in which case you need an actuarial certificate to determine which parts are tax exempt and which parts are not. None of this business where you say it’s segregated when it’s not to avoid the cost of an actuarial certificate.”
The ATO is obviously also concerned about individuals wanting to use the tax-free provisions surrounding pension assets to avoid capital gains tax, Burgess says, “which they would do by transferring an asset from the accumulation part of the portfolio to the pension part and then selling it shortly after”.
However, Burgess said the ATO did not define what “shortly after” meant, and so it remains unclear how long an asset must be held so as to not flag alarm bells with the taxman.
Aside from property, other assets likely to be affected by the change are things like joint bank accounts.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
 
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mrobin-TVRYiru7si

ATO set to clamp down on SMSF trustees who move assets to avoid capital gains tax

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The peak body for professionals that provide advice on the fast expanding self-managed super fund sector (SMSF) is urging that real estate agents who recommend these investments and mortgage brokers who arrange financing for them be required to hold a licence.
It follows a growing number of cases and complaints against so-called “spruikers” targeted at unwary investors through free introductory lunches as well as ASIC clamping down on unscrupulous operators that don’t disclose the risks of such investments.
SMSF Professionals' Association of Australia (SPAA) chief executive Andrea Slattery, has told the Australian Financial Review it wants Treasury to licence mortgage brokers and real estate agents that provide advice in this area.
SPAA offers its own SMSF adviser and SMSF auditor accreditations.
Mortgage brokers and real estate agents are not a big chunk of the SPAA membership, which counts accountants, auditors, financial planners, lawyers, risk providers, actuaries, administrators and educators among its members.
She says there has been talk of greater regulation of those who provide SMSF advice, but little action to date.
In February ASIC said it was considering increasing its powers to include oversight of property investments schemes recommended to self-managed super funds, but nothing formal has been proposed to date.
In April, it released a report on the quality of advice in the sector and ways to improve it.
ASIC found that while most advice provided was rated as adequate there were pockets of poor advice.
ASIC found issues in the following areas: 
<ul>
<li>advice was not sufficiently tailored to the needs of the investor</li>
<li>replacement product disclosure was absent or inadequate</li>
<li>insurance recommendations were absent or inadequate</li>
<li>an inappropriate single asset class was provided to investors</li>
<li>suitable alternatives to an SMSF were not considered, and</li>
<li>there was inadequate consideration of the investor’s long-term retirement planning objectives.</li>
</ul>
APRA superannuation figures to the end of March show that SMSF assets increased from $473.9 billion to $496.2 billion for a $22.3 billion or 4.7% gain over the quarter with sector accounting for almost a third (31.5%) of the total $1.58 trillion superannuation pool.
According to SPAA research, more than three quarters of SMSF trustees buy assets such as property and shares directly rather than through a managed fund.
In May, ASIC cancelled the credit licence of Money Choice and banned its director, Matthew George, after an investigation found failures to comply with credit laws, responsible lending shortfalls and instances of unlicensed self-managed superannuation fund (SMSF) advice.
In April, it was revealed that <a target="_blank" href="/news">four Melbourne businesses running seminars on investing in real estate through SMSF</a>s are being investigated by ASIC over the potentially misleading nature of flyers, advertisements and online ads promoting these seminars.
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lschlesinger-FZcF9M3vE6

Real estate agents and mortgage brokers must have SMSF licence: SPAA

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If your self-managed super fund is intending to sell an investment property and the members plan to begin a superannuation pension in the new financial year, consider delaying the sale until after June 30 if it makes commercial sense.
As tax lawyer Robert Richards says, super fund assets backing the payment of a pension are no longer subject to tax – including capital gains tax.
See our free ebook on the <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-top-24-tax-strategies">top 24 tax strategies</a> for property investors.
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mlaurence-vhAHaLZT8y

The sale of self-managed super fund property to eliminate capital gains tax

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Self-manged super funds (SMSFs) hoping to gain tax relief for repairs and improvements to a fund-owned investment propertyshould act with particular caution if the property is geared.
Under superannuation law, money borrowed by an SMSF under a limited recourse loan arrangement must be used only to buy and maintain the property – not to improve it.
Crucially, a fund can use its own money to improve a property – not borrowed money – provided those improvements are not so extensive so as create a new asset, according to a final tax ruling released in May last year.
Graeme Colley, director of technical and professional standards for the Self-Managed Super Fund Professionals’ Association, explains that an SMSF in the accumulation phase is entitled to claim the same types of tax deductions as individual investors who buy properties in their own names.
For instance, an SMSF can claim deductions for loan interest, repairs, any shortfall between the deductible expenses and the rent, and depreciation.
And SMSFs can claim capital works deductions.
See our free ebook on the <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-top-24-tax-strategies">top 24 tax strategies</a> for property investors.
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Take extra care with self-managed super fund property

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Make the most of your <a href="https://www.smartcompany.com.au/superannuation/055744-smsfs-continue-to-grow-reaching-22-billion">self-managed super fund</a> by preparing for the end of financial year with these tips:
<h3>1. Remember, there’s no ban on off-market transfers</h3>
In May, the government decided to <a href="https://www.smartcompany.com.au/superannuation/055815-smsfs-claim-victory-as-government-abandons-off-market-transfer-amendment-passes-loss-carry-back-scheme">scrap its proposed ban on off-market transfers</a>, which was set to take place on July 1.
Rivkin Super manager Charity Bru says “in specie” share contributions continue to exist.
“From July 1 if you have shares you want to contribute directly to your super fund you are free to do so,” she says.
SMSF Professionals’ Association of Australia’s Graeme Colley says if you are considering transferring shares as an “in specie” or non-cash transfer make sure you don’t exceed contribution caps. It’s also important to confirm the acquisition of the listed securities is consistent with your fund’s investment strategy.
Colley says it’s important to keep in mind the change to the law, which occurred on July 1, 2012, that states all records for the fund and reporting relating to the fund must be kept on a market value.
<h3>2. Take advantage of co-contribution</h3>
If you have earned under $31,920 this financial year you may be eligible for the super co-contribution, where the government matches 50 cents for every dollar of non-concessional super contributions made for up to $500.
The $500 amount is scaled down when earnings are between $31,920 and $46,920. If you earn more than $46,920 you are not eligible for this scheme.
To estimate your super co-contribution entitlement and eligibility use the <a href="https://calculators.ato.gov.au/scripts/axos/axos.asp?CONTEXT=&amp;KBS=superc_calc.xr4&amp;go=ok" rel="nofollow">ATO’s co-contribution calculator.</a>
<h3>3. Make the most of contribution limits</h3>
Concessional contributions are employer contributions, including those made under a salary sacrifice arrangement or, for people who are self-employed, personal contributions claimed as a tax deduction. The limit for concessional contributions is $25,000 per person, while the non-concessional limit is $150,000 per person.
Colley says if you’re under 65 you can make a non-concessional contribution of up to $450,000 over a three-year period.
If you’re older than 50, remember, the concessional contribution has been reduced to $25,000.
Colley says over 50s may need to take action before the end of the financial year to make sure the cap is not exceeded to avoid being hit with an excess contributions tax.
From July 1, the amount goes to $35,000 for anyone who is 60 or over, if you turn 60 during the 2014 financial year.
Bru says if you haven’t yet reached your limit, top up in June before it’s too late.
“Do that extra salary sacrifice if you can. The limits are ‘use them or lose them’ – you can’t carry forward the unused portion from year to year,” she says.
 
<hr class="system-pagebreak">
<h3>4. Find out if you claim a tax deduction for your personal super contributions</h3>
You can claim a tax deduction for your super contributions if you are eligible.
If you are self-employed or don’t work at all but contribute to your super, you may be able to claim a tax deduction for your super contributions.
To be considered eligible you have to satisfy the maximum earnings as an employee condition, which means you earn less than 10% of the total of your assessable income, reportable fringe benefits and the total of your reportable super income contributions for the financial year.
If you are 75 or over, you can claim only claim reductions for 28 days of the month following the month you turned 75.
Colley recommends ensuring you are eligible to claim the deduction.
“Pro-actively seek advice if you are unsure,” he says. “Also ensure you keep all relevant paperwork to save stress when it is time to claim a benefit or a deduction.”
<h3>5. Don’t be caught out by excess contributions tax</h3>
Exercise extreme care when making large super contributions. Colley says investors can be hit with excess contribution penalties depending on the amount and type of contribution made.
“Any type of contribution made during the two preceding financial years may impact on the contributions that can be made this financial year,” he says.
Fund deductions aren’t usually significant for SMSF members in the accumulation phase, just remember expenses have to be incurred or paid before June 30 to be deducted in that year.
Those drawing a pension from their SMSF need to make sure they have received the required minimum pension by June 30, says Colley.
“Otherwise the investment income derived from the assets supporting that pension may impact on the contributions that can be made this financial year.
“You’ve really got to make sure your minimum pension payment is made from the fund of that year. If not, the income on your pension investment in the fund gets taxed at 15%. If you meet the rules it’s tax free,” he says.
<h3>6. Revalue your assets</h3>
If you own property, unlisted shares, units or artwork through your SMSF, remember to revalue these assets at least every three years.
Bru says valuing for SMSF financial accounts and statements doesn’t have to be conducted by an independent and qualified valuer.
“But the valuation must be based upon objective and supportable data,” she says.
But you still have to conduct the valuation objectively. For instance if you have a property, if you are going to do the valuation you need to check prices in the area for properties that have sold. The easiest process is to ask.
If you’re unsure, check out the <a href="https://www.ato.gov.au/superfunds/content.aspx?doc=/content/00328213.htm" rel="nofollow">valuation guidelines for SMSF on the ATO website</a>.
<h3>And don’t forget…</h3>
The end of financial year is a great time to give your SMSF an overall review. Make sure you’ve updated your investment strategy, your death benefit nominations are still valid and consider taking out life insurance if you don’t have it.
“It’s good to take time once a year to take stock of what you’ve got,” says Bru. “Now is a good time to check all of these things to ensure you enter the new financial year with all of your SMSF housekeeping in order.”
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
 
 
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Six steps to prepare your SMSF for EOFY

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Since John Howard lifted the ban on superannuation funds borrowing money to invest in 2007, self-managed super funds (SMSF) have invested around $80 billion in property.
A March quarter survey by SMSF administrator Multiport found that 18.6% of super fund assets were property holdings up from 17.4% a year ago.
At the same time ASIC has been raising alarm bells about spruikers targeting this sector of the market with a new taskforce established to look into the behaviour of unscrupulous operators and may also consider expanding its regulatory powers to<a target="_blank" href="/news"> include property investment.</a>
Just this week a property investment adviser who allegedly recommended to various NSW investors that they set up SMSFs to invest in the development of a number of house and land packages in Queensland was charged with eight counts of fraudulent misappropriation.
In May, ASIC cancelled the credit licence of Money Choice Pty Ltd (Money Choice) and banned its director, Matthew George, after an investigation found failures to comply with credit laws, responsible lending shortfalls and instances of unlicensed self-managed superannuation fund (SMSF) advice.
In April, it was revealed that <a target="_blank" href="/news">four Melbourne businesses running seminars on investing in real estate through SMSF</a>s are being investigated by ASIC over the potentially misleading nature of flyers, advertisements and online ads promoting these seminars.
This week, ABC’s The Business program provided a special report on “less scrupulous schemes encourage people to set up funds and then borrow heavily to buy property” calling it a “ticking time bomb”.
These are five tips we have gleaned from this broadcast:
1. Don’t let appearances fool you
Consumer advocate Neil Jenman told the ABC that SMSF property investment spruikers will come across as across as “smart, clever, sophisticated, intelligent, trustworthy people. They don't come across like crooks”. He advices that no matter who you are dealing with you should "do your homework and read the fine print".
2. Be wary of cold calls that promise you can save tax and pay off your home quicker
Noel Whittaker from QUT Business School told the ABC he was aware of one Gold Coast company “making 22,000 cold calls a week” which begins with: "How would you like to save tax and pay your home off quicker? Well to see if you qualify, one of our consultants will come to your house." The next thing that happens, according to Whittaker, is a “six-hour brainwashing interview which ends up with you buying a property from them”.
3. Do your own research on property values, don’t trust rental guarantees and promises of discount prices.
Spruikers are likely to use a high pressure sales approach and seek to sell you properties at inflated values, but tell you they can sell them for you at a discount. They will also often offer guaranteed rent on a property they are selling. The higher prices are used to pay the rental guarantees and the high commissions to those promoting these property investments.
4. Always get independent advice before you sign
A spruiker will most likely connect you with their own network of property valuers, mortgage brokers, financial planners and conveyancers who may be in on the game. The four Melbourne sandbelt Melbourne businesses under investigation by ASIC were a law firm, mortgage broker, a real estate agency and a firm of chartered accountants all allegedly acting together in promoting a property investment SMSF scheme. You should always seek out the opinion of an independent valuer you trust and choose your own mortgage broker, lawyer and financial planner.
5. Don’t trust everything you read on Google. Seek personal experiences
Apart from being excellent at presenting themselves as trustworthy, spruikers are also aware that people will do their own research online. To combat this, spruikers have become very good search engine optimisation (SEO) and “flooding the web with positive material to keep the truth from coming out”. Claire Mackay from financial planning firm Quantum Financial Services, which assisted a “financially literate company executive” sucked in by plausible sounding SMSF spruikers, said she had trawl through around 15 or 16 pages of Google searches to “find out more than just guru property experts revealing the secrets”. Speaking to people who attended a seminar about their experiences is a much better way to gauge the real intent of marketeers.
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Five SMSF property spruiker tricks you should not fall for

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Spruikers that promote investing in property through self-managed superfunds (SMSFs) remain a major concern for ASIC.
“We don't want this to become the new playground for dodgy spruikers,” warned ASIC commissioner Peter Kell on the ABC’s The Business this week as part of a special report into the “stampede into property by self-managed super funds”.
Kell said spruikers were encouraging people to set up SMSFs to invest in property in ways “that may be completely inappropriate for the investor and they're not explaining the risks and the issues involved in investing in some of these areas”.
The Business special report named a number of businesses ASIC is “concerned about” including recently banned Melbourne-based property and finance firm Money Choice and its director Matthew George, Queensland-based Active Super, an unnamed Gold Coast company making 22,000 cold calls a week and prominent property investment firm ParkTrent, which promotes its introductory free investment seminars lunches via flyers handed out on street corners.
Ronald Cross, CEO of Park Trent told the ABC it rejected the tag of “spruiker” saying it was an “icon” and that to call it anything other than a “business enterprise” was a “cheap shot”.
Kell’s comments follow a speech in April, in which he highlighted some cases investors where investors were given advice which was not tailored to their specific situation, or recommendations for insurance were "absent or inadequate".
"Notably, we also found that investors were not warned about the very real risk of not having access to a statutory compensation scheme in the event of theft of fraud," he said at the CPA Australia SMSF Conference.
"Going forward, this will be an area of focus for us. We expect to see advice providers warning investors about this risk."
Also in April ASIC released a new guide ‘SMSFS - Improving the quality of advice given to investor’ and highlighting that SMSFs “represent the fastest growing superannuation sector in Australia, with $439 billion assets held by funds”.
“ASIC has ramped up its attention on a sector that is of growing importance to more Australian investors. We want to help ensure that we have a healthy SMSF sector,” Kell said.
In particular, he said ASIC was “concerned about the rise in aggressive advertisements pushing property purchases through SMSFs”.
“Where we see examples of unlicensed SMSF advice, or misleading marketing, we will be taking regulatory action,” he added.
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SMSF property investment at risk of becoming “playground for dodgy spruikers”: Peter Kell

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<h1 style="font-size: 20px;">Free eBook: Top 24 Tax Strategies</h1>
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The tax office has a powerful motive to intensify its scrutiny of property investors’ tax returns for 2012-13.


Fortunately, astute property investors can adopt a range of strategies to legitimately minimise their tax and maximise their tax breaks.

This eBook – written by leading tax and personal investment journalist Michael Laurence – is a must-read for property investors.
<img src="https://www.urban.com.au/images/stories/2013/advertising/ipad-tax-24.png" class="event_image"><h3>This year’s end-of-tax-year eBook for property investors includes advice such as:</h3>
<ul>
<li>Being aware of what you can claim as immediate deductions</li>
<li>How to accelerate deductions</li>
<li>How to defer taxable income</li>
<li>How to reduce capital gains tax</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/marketing/ebooks/24-Tax-Strategies.pdf">Click here to download this free Property Observer eBook.</a>

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Free eBook: Top 24 Tax Strategies

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A growing number of investors are turning to self-managed superannuation funds to take control of their future nest eggs.
According to the Australian Taxation Office, self-managed super funds (SMSFs) account for almost $439 million of the $1.3 trillion in Australian super funds, with more than 478,000 funds in operation at June 2012, and the number of funds growing at more than 6 per cent per annum.
The growing shift towards SMSFs follows a loss of confidence in the performance of Australian superannuation funds, which in recent years have been considered among the worst performing in the advanced world.
With volatility in the equity markets, many Australian investors are turning to bricks and mortar due to its relative stability when compared with other asset classes. In fact, of the 19 superannuation asset categories, residential property ranks in the top seven and is an increasingly popular investment option for those aged 45 to 64 and with $200,000 or more in their SMSF.
SMSFs are most popular in New South Wales and Victoria, with each state accounting for approximately 30 per cent of all super funds in Australia. These states are followed by Queensland in a distant third at approximately 17 per cent and Western Australia at 10.5%.
Recently revised super rules mean it’s even easier for Australians to invest in property using their superannuation. SMSFs provide improved taxation rates for voluntary contributions, asset protection in the instance that the fund holder declares bankruptcy, and no capital gains tax and/or tax free income once the trustee has reached the pension phase.
This means an eligible SMSF may purchase a property today for $400,000, hold it for several years, during which time it grows in value, and sell it after the member reaches 60 years of age, without paying capital gains tax. A direct investment of the same kind would typically be subject to a marginal tax rate ranging from 15 to 45 per cent.
While SMSF can be an effective structure to build financial wealth for your retirement the process is not without risks. Not only must the fund be suitably structured but it’s also critical to select assets that will provide positive long-term financial outcomes. The fact is, not all properties perform the same, which isn’t always obvious to investors in the short-term.
These days property investment is complex as it offers a range of choices including off the plan, high rise CBD apartments, student accommodation, serviced apartments and foreign property - all of which are subject to individual risks and benefits.
To maximise the benefits of investing in property with super ensure you select a property with the right profile for strong capital growth. Properties of this kind are typically underpinned by location, scarcity in type and number of similar properties and have a track record of stable performance.
If in doubt about establishing a SMSF or selecting an investment property consult an independent professional advisor and find out how they can help you take control of your financial future.
Greville Pabst is CEO of the <a title="WBP Property Group" href="https://www.wbpproperty.com/" rel="nofollow" target="_blank">WBP Property Group</a>.
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The advantages of a SMSF: Greville Pabst

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With the end of the financial year less than three weeks away, cashed-up property investors should be cognisant of the amount of the money they contribute to their funds.
The ATO has <a target="_blank" href="https://www.ato.gov.au/individuals/PrintFriendly.aspx?ms=individuals&amp;doc=/content/00106372.htm">issued a reminder </a>that there caps on the amount you can contribute to your superannuation each financial year that are taxed at lower rates.
If you contribute more than these caps you may have to pay extra tax.
The tax on non-concessional (before-tax) contributions that exceed the current $25,000 cap is 31.5% (plus 15% paid on your behalf by your super fund) while the tax on concessional (after-tax) contributions that exceed the current $150,000 cap is 46.5%.
Subject to government changes being passed in parliament, from July 1 2013 the government will increase the concessional contributions cap to $35,000 if you are 60 years old or over.
Individuals aged 50 and over will be able to access the higher cap from 1 July 2014.
These contribution cap limits may particularly apply to property investors who have disposed of an asset and wish to invest some of the proceeds into their self-managed super fund.
Other changes set to take effect from July 1 2013 are to allow withdrawals from super fund of any excess concessional contributions made from 1 July 2013 and that excess concessional contributions to be taxed at the marginal tax rate rather than the top marginal tax rate.
Investors though will need to know the difference between concessional and non-concessional contributions.
Concessional contributions apply to before-tax contributions while non-concessional contributions apply to after-tax contributions. 
Types of concessional (before-tax) contributions include:
<ul>
<li>employer contributions, such as compulsory employer contributions paid by your employer, any additional pre-tax super contributions your employer makes, salary sacrifice payments made to your super fund, other amounts paid by your employer from your pre-tax income to your super fund, such as administration fees and insurance premiums</li>
<li>contributions that you are allowed as an income tax deduction, such as contributions you make if you are self-employed (to claim a tax deduction for your personal super contributions, you must first complete a notice of intent to claim deduction in the approved form and give it to your super fund)</li>
<li>notional taxed contributions if you are a member of a defined benefit fund some amounts allocated from a fund reserve.</li>
</ul>
The ATO also warns that if you decide to split your before-tax contributions and give some to your spouse, these contributions count towards your cap.
Types of non-concessional (after-tax) contributions include:
<ul>
<li>non-concessional (after-tax) contributions that your employer makes on your behalf from your after-tax income</li>
<li>contributions your spouse (including a same-sex spouse) makes to your super fund, unless your spouse makes the contributions because they're your employer</li>
<li>personal contributions that are not claimed as an income tax deduction</li>
<li>contributions in excess of your concessional (before-tax) contributions cap</li>
<li>contributions in excess of your capital gains tax (CGT) cap amount</li>
<li>most transfers from foreign super funds, excluding amounts included in your fund's assessable income.</li>
</ul>
Your age affects the amount of the concessional (before-tax) contributions cap, how the cap applies and what options you may have.
The ATO provides an <a href="https://www.ato.gov.au/individuals/PrintFriendly.aspx?ms=individuals&amp;doc=/content/00106372.htm">online guide to super contributions</a>.
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