Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

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GUEST OBSERVATION
Despite what you may think, that is not a rhetorical question.
The <a href="https://www.smartcompany.com.au/finance/tax/41486-ato-data-matching-targets-online-selling">Australian Tax Office</a> is a large federal government agency that comprises about 15% of the Australian Public Service, and has around 24,000 people in more than 60 locations around Australia. It’s a large organisation by any measure. Reinventing any entity that large is no mean feat – and it won't happen quickly.
Some may question why a country of 23 million people needs a tax agency that large. Well, our tax system is complex (way too much so), and the ATO has many taxes to administer. However, while the size itself of the ATO is one thing, how it operates is a whole other issue.
Tax Commissioner Chris Jordan is looking at how the ATO can reinvent itself to make it simpler and easier for people to comply with their tax obligations and to make the ATO a more responsive and “user-friendly” agency. These are not platitudes from the Commissioner; he means it.
In a recent speech, the Commissioner said that with the Coalition government's "open for business" mantra, the push for productivity increases and de-regulation, the ATO must be able to show improvements in efficiency and reductions in red tape. Jordan said he has promised government he will do everything he can "to improve the tax and super experience in Australia – making it simpler and easier to comply". He said he has also promised to change the culture of the ATO and is required to report back to the Assistant Treasurer regularly on that front.
The Commissioner said that building trust in tax administrations was critical to the success of tax systems.
Jordan said that when he was asked to take on the role, he was aware of feedback that despite best intentions, the ATO had become isolated from some of its key stakeholders and segments of the community. Jordan said he knew that trust and confidence needed to be lifted and he was asked to work on relationships with government, other agencies, and, SMEs will be glad to hear, the business community.
The Commissioner said his "fundamental belief is that in order to deliver to government, the ATO must use its power legitimately, build trust in its judgment and demonstrate fairness and integrity". He said the ATO has to design and operate a system for the majority of taxpayers who do the right thing,rather than for the few who don't [Commissioner's emphasis]. Jordan said the ATO was asking itself "how do we design the system so that it suits the 95%, rather than a system designed for 5%?"
The Commissioner said the ATO’s answer to this complex situation is to reinvent itself, transform how it goes about its core business, and make it a contemporary and service-oriented organisation. He acknowledged that reinventing the ATO is a long-term journey — recognising that building trust in a tax administration is not a simple or quick effort.
Jordan said the ATO has to build on the positives of its culture like commitment to its role, to service and taxpayers, integrity and ethics, but, in a frank assessment, he said the ATO also has to “acknowledge the negative aspects of our culture like risk aversion, righteousness, silo mentality and bureaucracy”. SMEs and their advisers would certainly agree.
Jordan said the ATO's approach to accountability needs to change – "to be simpler, clearer and connected to reward and consequence". He said the ATO's measures "have to include views from others and be related to effectiveness and outcomes…We must put a much greater emphasis on how others judge our performance."
Integrity is about character, Jordan said. In terms of the ATO and the tax system, he said  it is about doing the right things consistently by all of the ATO’s stakeholders (e.g. government, business, taxpayers generally) — “safeguarding and future-proofing the system on behalf of the Australian community and dealing with taxpayers in a way that is fair and right in the long run”.
The Commissioner said these thoughts have helped shape the ATO’s strategic directions.
Recognising that time is money for all businesses, Jordan said the ATO is focusing on early discussions between the taxpayer and relevant tax officers responsible for making decisions. These early, face-to-face talks, he said, aim to get to the core issues more quickly and short-circuit unproductive paper wars between the parties. SMEs will no doubt be delighted if the paper war can be won!
The ATO is also seeking to bring to a sensible close unnecessarily long running cases and audits — “recognising when we reach the point of diminishing returns or an impasse”, the Commissioner explained. Of course, if agreement or settlement cannot be reached, the courts will need to decide. In a refreshing stance, the Commissioner said that continuing dialogue for five years or more is not productive, prevents closure and damages trust.
The ATO is at the centre of the tax world in Australia. It deals with millions of taxpayers and their tax issues every day. Overshadowing all of that is the tax law. The Commissioner said it is important to him that the ATO is able to influence law design. He said the ATO has the advantage of seeing what works and doesn’t in practice and can use those insights to advise Treasury. The ATO’s new Integrated Tax Design Unit seeks to ensure requests to Treasury are prioritised and presented from a whole-of-system perspective. Jordan said there is limited capacity to change law and the ATO is looking at other ways to resolve issues.
Seeking the community’s perspective through consultation – knowing what problems exist and their ideas for possible solutions is, in the Commissioner’s view, vital in order for the ATO to provide the right advice to Treasury.
SMEs and businesses generally have avenues to make their views known, for example as I explained in my recent article about the Inspector-General of Taxation’s new work program. And the ATO itself is asking small business owners to join its new small business consultation panel to help boost the ATO’s small business expertise. In addition, the government has asked the Board of Taxation to identify features of the tax system that are hindering SMEs.
There is a lot happening at the ATO and in the tax system. The Commissioner says he is “going to do what I can to make improvements to the tax and super experience by reinventing the ATO”.
“I want the ATO to be trusted and respected…where people choose to comply and we make it as painless as we can. In the end, I want confidence in the ATO and the tax system so that there is conscious willing participation, hopefully higher than the current 95%.”
Can the ATO reinvent itself? The sceptics may have doubts, but the Commissioner is clearly serious and appears intent on giving it “a red hot go”. He has already got some runs on the board, so watch this space.
Terry Hayes is the editor-in-chief of tax news reporting at <a href="https://www.thomsonreuters.com.au/" target="_blank">Thomson Reuters</a>, a leading Australian provider of tax, accounting and legal information solutions.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany.</a>
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thayes-XhNcNKLNWa

Can the ATO reinvent itself? The push for a more “user-friendly” tax agency

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The increasing expenditure associated with Australia’s ageing population will necessitate reforms to the country’s taxation system, according to the latest Economics Group Research Note from the Housing Industry Association of Australia (HIA).
With the number of Australians aged 85 and over projected to grow from 455,000 to 1 million in the next 25 years, the country’s working population is expected to decline in relation to the number of senior financial dependents. The country's shifting age demographics are likely to intensify public expenditure pressures, with HIA claiming that the residential construction sector will play a direct role in Australia’s response to the ageing population.
Currently, the Public Budget Office estimates that the structural budget balance will remain in deficit in 2016/17. As such, in its report HIA advocates a series of structural taxation reforms extending to the housing construction sector to help manage Australia’s shrinking taxation base.
The report states that new housing is Australia’s “most heavily and inefficiently taxed sector”, contributing about $40 billion 11% of total taxation revenue per year across all levels of government.
“Taxes on new housing are not only excessive, but are disproportionate relative to the rate of taxation on other sectors of the economy – the average tax burden on the residential building sector is estimated at around 31% of the value of output, which compares to an economy-wide average of 24.4%,” writes HIA in the report, titled Housing: Paving the Road to Recovery?
Citing the 2010 Ken Henry Tax Review, HIA also criticises stamp duties as inefficient and providing a disincentive for older Australians to move to more appropriate dwellings. In the final recommendations of Australia’s Future Tax System, Henry advises that “ideally, there would be no role for any stamp duties, including conveyancing stamp duties, in a modern Australian tax system”. Instead, the review recommends a broad land tax.
HIA’s report also raises the issue of providing adequate housing stock to meet growing demand. Pointing to legislative barriers to housing supply, the industry body claims there is a shortage of housing stock and inflating home ownership and rental prices.
Although housing supply is largely regulated by state and local governments, HIA claims that the federal government can take action to increase new housing stock, such as tying funding to public and social housing delivery benchmarks.
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jrichardson-uRX5hFdKfN

Housing taxation reform required to deal with ageing population: HIA

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If you’re thinking about buying an investment property before the end of this financial year then you have just three months to go.
While purchasing property should never be rushed, if you’re considering the purchase of an investment property before 30 June, you should be sorting out your finances and looking at suitable properties now. This is particularly the case for first time investors.
More seasoned investors might choose to leave it to the last minute and hurry their purchase before 30 June simply as a strategy to claim the allowable tax deductions associated with the investment during this tax period.
Most people, however, wouldn’t be inclined to do that because it could mean that as a buyer they have not had adequate time to properly research the market in terms of price, rental returns, availability of stock, etc.
<blockquote>
There is no such thing as 'the best place to invest', what matters most is that you follow the best ways to invest.
</blockquote>
Experienced investors tend to always keep an eye on the market and allow themselves plenty of time to select the best possible property for their needs, expectations and budget.
If you’re a first time investor and perhaps been thinking about buying for a while, then now is the time to be talking to professional financial advisers about your aspirations and opportunities.
You should also be considering the areas in which to invest and plan to inspect suitable properties.
Remember to factor state government stamp duty into your purchase costs and to keep a clear record of this. When you sell the property in the future the stamp duty along with some other costs, such as agent’s and settlement fees, are tax deductible.
For full details on this read the information on <a href="https://www.ato.gov.au/Individuals/Income-and-deductions/In-detail/Investments,-including-rental-properties/Rental-property-expenses/" target="_blank">rental properties at the Australian Tax Office</a> website.
I am often asked by members of the public to give them a tip as to, “the best place to invest.”
There is no simple answer to this, it depends entirely on your budget and what you want your investment property to do for you.
Are you focused on rental returns, capital growth, land prices, development opportunities or tax deductions? Do you have cash or need finance? How long do you intend to hold this investment?
There is no such thing as 'the best place to invest', what matters most is that you follow the best ways to invest.
That means getting competent financial advice from professionals to determine your budget and loan and then talk to some agents about opportunities in the areas that suit your portfolio plan.
If you are pressed for time but want to purchase before 30 June, or just lack confidence as a prospective investor, then you may want to consider engaging the services of a buyer’s agent to help you through the process with expert guidance and suggestions.
This article was originally published on <a href="https://reiwa.com/" target="_blank">reiwa.com</a>.
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dairey-MVZf5ZguQC

Investors need to make their move before 30 June

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RE/MAX Western Australia’s managing director Geoff Baldwin has spoken out against potential changes to current stamp duty dispensations for first home buyers, saying that if the relief was decreased or abolished there would be dire effects across the market.
 “The negative affect the ceasing of stamp duty relief for first home buyers would be extremely damaging however, when this segment of the market stagnates it ripples up through all price ranges and the effect would be crippling”, said Baldwin.
“If you take a line through New South Wales and Victoria where subsidies have been abolished, first home buyer activity has dropped to 8% and 12% respectively, compared to the current 22% in Western Australia (RP Data).
“Historically, in a healthy market, first home buyers account for around 25 to 30% of all buyers.
“The established home market has already taken a massive hit through the government’s recent actions in changing the First Home Owner Grant whereby those building new homes receive $7,000 and people buying established only $3,000.
“To abolish first home owner stamp duty concessions would be extremely short sighted as it will a negative impact the whole market and hence the Industry, just at a time where we are again experiencing some prosperity in the property sector.”
 
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Rumoured cuts to stamp duty relief for first home buyers would be “extremely damaging”: RE/MAX

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GUEST OBSERVATION
One of biggest issues to be addressed in last weekend’s WA Senate poll - and perhaps one of the most complex, too - was how best to maintain the state’s growth trajectory through the forthcoming period of transition.
Western Australia has undeniably seen the benefits from sustained economic growth over the course of the resources boom, with the state’s per capita gross income rising to around 50% above national levels in little over a decade.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/45584/width668/2z8jq8pc-1396569575.jpg" alt="">
Real per capita Gross State Income: WA and Australia, 1992 to 2013
However, the latest economic data does support the view that the WA economy has passed the peak of the construction phase of the commodities boom (characterised by growth in productive capacity, high employment and real wage growth). It is now moving to a production phase in which the state’s productive capacity is “put to work” in driving resource volume and export growth.
Early signs of this transition can be seen in reduced capital investment growth, lower participation and rising unemployment. WA’s unemployment rate has almost always been below the national rate, but there are signs that the unemployment and participation gaps are narrowing.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/45580/width668/pkb3vxgg-1396569393.jpg" alt="">
Unemployment and labour force participation: WA and Australia, 1991–2013
Relatedly, the changing workforce and skills requirements for WA require careful thought. Skilled migration, whether from interstate or from overseas, can only do so much to meet the changing demand for labour in the state. The shifting industrial composition also requires an education and training system flexible enough to retrain WA workers to match the needs of industry.
Housing policy was also an important battleground in this weekend’s elections.
Industry group affordability indicators published recently suggest that WA isn’t significantly out of line with other states and territories. However, most of these measures dwell on cost burdens for the “typical” family and house, disguising some big economic and social issues facing policymakers.
The Perth housing market has a real problem providing affordable rentals to low income families, or the right types of properties in the right locations. The housing sector points to high construction, regulation and approvals costs as the main impediment to the efficient supply of affordable housing. Whatever the cause, these issues are common topics of conversation for West Australians.
Australia raises proportionately more in direct taxation than the OECD average (around 60%, two thirds of which is personal income taxation) but significantly less from indirect taxes (mainly GST) - 13% against an OECD average of around 19%.
Federal Treasury secretary Martin Parkinson this week rehearsed the positive arguments for shifting the balance of income taxation and GST more towards the latter, but the context is not textbook. If you had to raise more revenue as a government to honour public spending commitments on NDIS, health and schools reform, support the ageing baby boomer population, and defend against falling terms of trade, which would you choose?
<blockquote>
Housing policy was also an important battleground in this weekend’s elections.
</blockquote>
The subtle increases in direct tax revenues through fiscal drag can stretch only so far, and more overt increases in company or personal income taxation face strong political headwinds. It does seem unnecessarily restrictive for the Federal government to deliver effective tax policy in more challenging economic times with its GST hand tied behind its back. However, consumption taxes may be more efficient, but they’re more regressive too.
WA households have experienced significant real incomes growth over the course of the resources boom, not just in absolute terms but relative to the national trend. But this growth hasn’t been distributed evenly, and the impact of an increase in GST tends to fall regressively on lower income earners who are less able to substitute away from consumption.
With the falling allocation of the GST wealth share to WA - down to 4.2% - placing more pressure on the state’s spending program, there is a need to ensure that economic policy responses don’t contribute to further increases in inequality beyond those already seen.
When it comes to GST shares, it’s hard to argue that WA gets out what it puts in. However, whether the GST return to WA is “fair” (or at least reasonable) depends on the position one takes on the redistributive philosophy underlying the allocation of GST shares across states and territories.
Alan Duncan is director of the Bankwest Curtin Economics Centre and Bankwest Research Chair in Economic Policy at Curtin University.<img src="https://counter.theconversation.edu.au/content/25135/count.gif" alt="The Conversation" width="1" height="1" style="line-height: 1.3em;">
The Bankwest Curtin Economics Centre is an independent economic and social research organisation located within Curtin Business School at Curtin University. The Centre was established in 2012 with support from Bankwest (a division of Commonwealth Bank of Australia) and Curtin University. The views in this article are those of the author and do not represent the views of Curtin University and/or Bankwest or any of their affiliates.
The views in this article are those of the author and do not represent the views of Curtin University and/or Bankwest or any of their affiliates.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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jake-cSmGT7VXVf

Enough talk: the economic policies that WA needs now

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Taxpayers could be hit with an extra $32.5 billion in tax in the next decade, unless the federal government make changes to personal income tax brackets, according to a new report.
Research commissioned by The Australian and conducted by the University of Canberra found if there are no changes to the personal income tax brackets, the number of people paying the top tax rate would increase by 134% in the next 10 years to just under 900,000 people.
The number of Australians paying the second highest rate, 37 cents for the dollar, would jump by 85% to 3.7 million.
This article first appeared on <a href="https://www.SmartCompany.com.au">SmartCompany</a>.
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yredrup-o4Anfe78KF

Millions of Australians to face higher tax brackets

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Vacant land and new residential communities are appearing regularly, particularly on Melbourne's outskirts and in other cities where land is in no shortage of supply.
Stephen Thompson, Allworth Homes' managing director, said that this makes it a good opportunity for investors, who should consider building a new home as their next investment.
"It is a lot easier than perceived and will give you many benefits along the way," he said.
"Building a new home gives you a blank slate to work with, allowing you to choose all of the decorative features that you prefer. New means low maintenance and more energy efficient as a result of being constructed with the most up-to-date materials, saving you money in the long run."
These are the reasons he provides 'for' purchasing a new home:
<ul>
<li>It’s not as hard as you think. Investors can have minimal hands-on involvement throughout the process and deal directly with the builder to purpose build what they want on their land. 
</li>
<li>Choose the best block. Most builders will assess your block of land free of charge. Or select from land the builder may have already assessed as suitable. 
</li>
<li>Choose the design. Think about what your ideal tenant would want and choose a design to suit. Choose how many bedrooms, bathrooms and even living areas. There are multiple options to choose from when you building new. 
</li>
<li>New homes command top dollar rental. People want to be a part of something new. A brand new property in a great location is super attractive to potential tenants. 
</li>
<li>Capital gain. Selecting a block and builder yourself means you’re the one that will enjoy the capital gain when it comes time to selling the property. 
</li>
<li>Tax advantages. Depreciation allowances apply on the building and also some home contents. Investors should consult with their finance professional to determine their exact tax advantages. 
</li>
<li>Lower ongoing maintenance cost. Big repair bills are a negative to your bottom line and viability of the property as an investment. 
</li>
<li>Save money. Do a little legwork and cut out the middle man. Investor buyers are paying a premium for ready-built.</li>
</ul>
However, there are also substantial advantages for buying established properties.
Here are Property Observer's reasons 'for' buying established property:
<ul>
<li>Usually obtain a discount. You are dealing with a home owner, or investor, usually - rather than a developer. This means you can negotiate down the price, and offer other attractive items, such as a different settlement period, to help secure the deal. 
</li>
<li>You know what it is from get go. It's already there, and there's no messing around. The builder won't do the dodgy on you, and you move in knowing upfront how big it looks and feels and what is included. 
</li>
<li>Renovation potential. Not only can you buy properties that need work for under market value, and face less demand, but you'll also find yourself able to do them up, or sometimes DIY, with any funds you have left available. This will increase the value and, if done well, save you money. 
</li>
<li>Timing. You can buy that house and have the settlement period down as quickly as arranged. When building, there can be unexpected delays or time blow-outs - and you have to wait until completion. 
</li>
<li>Can buy in a built up area. You might not want to buy in an area that's open for development, and this can prompt problems if you're looking for a new place, however established properties are available. You'll need to double check if the area's supply is going to be increased beyond balance by any new developments or house and land estates. 
</li>
<li>Tenants may be in situ. Regularly, properties go onto the market with a tenant already in the house, or a recent history of rental that you can get a gauge of market demand from.</li>
</ul>
Do you prefer new or established property?
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jduke-EHk3XBmHkn

Buy established or buy new? The arguments for both sides

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An independent depreciation assessment of the four apartments up for auction next week has identified significant potential deductions for The Block’s buyers.
BMT Tax Depreciation has undertaken a depreciation assessment on each of the <a href="/news">Albert Park</a> apartments completed on this season of The Block and found that each offers major deduction opportunities, with potential first year deductions of about $50,000.
According to BMT Tax Depreciation managing director Bradley Beer, the renovated properties could be underlying goldmines for buyers. 
"An investor purchaser could claim a minimum of $46,281 and a maximum of $53,995 as an average first year depreciation deduction for one of the four properties," said Beer.
Beer says that despite legislation allowing all owners of income producing property to claim depreciation deductions for the wear and tear of their property and its contained assets, 80% of property investors fail to take full advantage of their depreciation deduction entitlements.
"Investors who don't claim depreciation are missing out on thousands of dollars in their pockets," said Beer.
BMT Tax Depreciation also prepared depreciation reports for the 2012 and 2013 Block properties.
The four apartments on O’Grady Street in Albert Park will be auctioned on Tuesday April 8, with the results airing on Channel 9 on Wednesday April 9.
 
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Hidden depreciation opportunity for The Block: Fans v Faves properties

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Modern governments believe that during budget framing, it is politically savvy to parade the pain. We saw it with Labor and the Coalition is doing the same.
There are scary scenarios of what would happen without remediation, with warnings about problem areas. Some surprises will be held for the night, but other measures will be strategically “leaked” beforehand.
Tony Abbott, in Perth campaigning for the West Australian Senate election, let it be known he was chairing Wednesday’s meeting of cabinet’s expenditure review committee.
Shadow treasurer Chris Bowen declared it was the first time in Australian history a PM had chaired the ERC, claiming it showed dysfunction at the highest level.
This was nonsense. The government could quickly counter that Bob Hawke, John Howard and Kevin Rudd had also done so.
But it was surprising Abbott gave such a high profile to this “razor gang” meeting.
The ERC is all about nasties and, after all, Labor is making the prospect of deep budget cuts a centrepiece of its WA Senate campaigning. Abbott seemed to be providing ammunition. On the other hand, he could take the view Labor had the bullets anyway so he might as well play the longer game.
Treasury secretary Martin Parkinson publicly chimed into the pre- budget debate with a speech reinforcing the government’s lines about spending growth in the big areas.
But Parkinson also sent a public message to the government for later about what it should do on taxation.
With Hockey shining attention on health and pension costs, Parkinson documented the escalation.
Total Commonwealth spending on health is set to rise from $64.7 billion in nominal terms in 2013-14 to $74.6 billion in 2016-17, and to $116 billion in 2023-24.
The Commonwealth’s three main pension payments - for the aged, those on disability support and carers – will grow at an annual 6% in nominal terms over the forward estimates, adding $13 billion to annual payments by 2016-17, and another $39 billion by 2023-24. “Of this nearly $52 billion in additional payments in 2023-24, compared to 2013-14, over half is a result of indexation with the remainder due to increases in the number of recipients.”
That seems a fair hint that both drivers are being looked at. It should be remembered that successive governments have been trying to curtail the numbers on the disability pension but it has seemed a losing battle. It’s never as easy as it looks in theory.
Parkinson then turned to the tax side. His argument, aimed well beyond this budget and directed squarely at the political masters he will leave in December, is crystal clear. Australia needs a tax system it relies more on indirect tax, less on direct tax. The king of indirect taxes is, of course, the GST.
Parkinson pointed to one rather surprising fact, given the tax debates we’ve been through over many years. “Despite reforms that broaden the tax base (such as the GST), and decisions that have lowered corporate and personal tax rates across the decades, the share of direct and indirect taxes (as well as Australia’s reliance on income taxes) has changed little since the 1950s.”
Australia had relatively high reliance on direct taxes as a proportion of revenue raised compared with other OECD countries, he noted, before observing that: “Research consistently says that reduced reliance on income taxes and increased reliance on other, more efficient sources of revenue, including indirect taxes, can support higher growth and higher living standards by increasing workforce participation and lifting productivity.”
The problem is that “without conscious change, Australia’s tax mix will move in the opposite direction as personal income tax increases through fiscal drag”.
“We will move even further in this direction if, as we anticipate, the relative share of total indirect taxes (including GST) continues its long-term decline. Contributing to this decline is the non-indexation of fuel excise (unlike other excise rates) and a rising proportion of consumption outside the GST net, for example, in increased health expenditure.”
Parkinson warned that “continued increases in the personal income tax burden will hit lower and middle income earners with higher marginal and average tax rates. This will have adverse labour force participation impacts, while sharpening incentives for tax minimisation by higher income earners”.
The globalised economy meant Australia would be under pressure to cut the company tax rate.
“Given the pressure to return fiscal drag and to reduce the burden of corporate income tax, it will be a challenge to maintain the current levels of revenue over the medium term, let alone the increases required to achieve the budget projections.”
In the past, Parkinson said, tax reform had largely been pursued through broadening tax bases as an offset for lowering tax rates.
“However, a key challenge for the upcoming White Paper on Taxation will be to consider the mix of taxes, including whether there is a role for a greater contribution from indirect taxes.”
The opportunity were there to plot a path to a better tax system and the dangers clear if it was not done.
“If we do not start making these changes and simply keep drifting along we will be increasingly vulnerable to the next global crisis and will also lose out on the opportunities presented by the rising Asian middle class. The exceptionalism of this ‘lucky country’ will become just a distant, ironic memory and our children may really end up ‘doing it tough’”.
So there you have it. Parkinson, axed by the government (though extended until year’s end) won’t be around for the battles after the white paper, which has a long time table.
But he has signposted another lot of unpalatable truths. In terms of painful decisions ahead, this budget is only the start of it for the Abbott government, which hates the idea of tax increases, fears the politics of a robust debate about needing a higher, broader GST and has promised to take any major tax changes to the election.<img src="https://counter.theconversation.edu.au/content/25161/count.gif" alt="The Conversation" width="1" height="1" style="line-height: 1.3em;">
Michelle Grattan is professorial fellow at the <a href="https://www.canberra.edu.au/" target="_blank" style="line-height: 1.3em;">University of Canberra</a>.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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