Election fever and your property investments | Rules around accessing super
Election campaigns are hotting up and whether you are voting for one of the major parties or instead looking further afield at the independents or smaller parties, it is likely that your vote will have a meaningful impact on the direction of the economy.
Of particular interest to us and many of our clients, is Labor’s proposed changes to the negative gearing rules, which if introduced will take another pillar of demand out of an already weakened market. This coupled with potential reduction in immigration, which is becoming an increasingly more talked about idea, cannot be positive for property values.
With this said, it could be potentially great news for first home buyers and this is what is being touted. I’m genuinely pleased by this in principal, when I think about the potential benefit my kids could have in the future as a result, however you only need to think through this point one further step, to know that it is likely not good news for existing investors, even
considering proposed grandfathering.
Our first article for you today, provided by Core Logic, looks at the current state of the property market across Australia since the National peak, reached in October 2017. It highlights a property market that is already soft, in particular because of the Banking Royal Commission.
Our second article for you today relates to your superannuation and specifically the rules around when you can access it. Superannuation is a simply fantastic vehicle for saving for your retirement and understanding it helps with embracing it, as part of your
Having said this, entering an election we should expect our politicians to take another look at our retirement savings and the rules that surround it and we will update you on the proposed changes when the governing party is decided next month, along with other points that may impact your Financial Plan. From all of us here at Yield, we wish you a wonderful day and as always welcome the opportunity to talk with you about your Financial plan.
James & The Team at Yield
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FROM THE BLOG
How Properties Have Changed In Value From Their Peak
National dwelling values have fallen by -7.4% from their October 2017 peak through to the end of March 2019 ...But how much does that equate to in dollar terms?