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Jun 3, 2022
Moving home in winter: Six Tips
The winter months can sometimes be unpredictable when it comes to the weather. Rather than it dampening your moving plans, take some steps to ensure that moving home in winter is as seamless and stress-free as possible. Check the weather app Rain has the potential to cause havoc on your moving plans so being prepared for any inclement weather can reduce those moving day jitters. Your weather app will be able to tell you what is expected, and it is best to plan for any event and those just in case moments. If it does look like rain, purchase some plastic sheeting from your local hardware store to cover furnishings and floors, even old sheets can work in these scenarios to protect those precious items. Matting outside the entry doors will also help in minimising the potential for dirt to be tracked through the property. Hire the professionals Where you can, hiring professional removalists can make the move an easier process. They can help you pack up your belongings and deliver them to your new home so that you can minimise the heavy lifting and focus on unpacking and settling into the new property. Outsourcing the clean-up to professional cleaners, carpet cleaners and gardeners can also make life easier and if you are renting, this can ensure that you are taking steps to help get your bond returned sooner with an easier handover. Outsource your connections There are some great companies that can assist with the connections and disconnections of your services to get you set up sooner in your new home and have the lights on for move-in day. They can also help with closing off old accounts for your previous residence and finalising those accounts. Label your boxes This one is the same whether you are moving home in winter or any season. Do the little things like labelling your boxes relevant to the room that they belong to or what they contain when you are packing up. If you have hired removalists this will help them identify the areas that the boxes need to go when they are unpacking in your new home, and you will be able to unpack the ones that you need more urgently. Prepare for a full day When you are organising your time of move-in winter, keep in mind that the daylight hours are shorter. Get started as early as you can to use most of the daylight that you have. If you have pets or children, moving day can be quite a stressful experience. You might consider where possible to arrange for friends or family to care for them which can reduce potential anxieties around the move. Having a bag of essentials on hand including things like a small tool kit, some smaller cleaning items, snacks and even a change of clothes while they might seem insignificant, can help make the day run smoother. Schedule an overlap when moving home in winter Alternatively if you can, see if you can see if you can arrange a move in date that is a few days before your move out date. Allowing yourself more than one day for the move can always make final tidy-ups and unstacking necessaries in your new home a little calmer. Energy bills on the rise in winter time? Have you considered buying an investment property in a town or city different to your own? Take a look at what is available in Bunderberg.
May 20, 2022
Managing mould removal in your home
Mould removal is a hot topic at the moment. Inclement weather conditions can cause havoc on the buildings that we call home and with large patches of rain and the humidity that can come with it, mould can at times follow affecting walls, ceilings, furnishings, and belongings. As the weather starts to cool and our homes become locked up for the winter months, reduced airflow and moisture from heaters, humidifiers and cooking can also encourage this pesky challenge to flourish. While there are at times potential building issues that can lead to mould growth in properties, generally a few cleaning, care and maintenance tips can assist with keeping it at bay and our homes healthy during the cooler months and beyond. Mould Treatment As soon as you notice mould, it is beneficial to take steps to remove it from the surfaces that it has affected. Without treatment, it is likely to get worse and will continue to return. Clean the area using mould cleaners or solutions of mild detergent or vinegar diluted in water. Tea tree oil mixtures are also popular for mould removal. Once cleaned make sure that surfaces are completely dry, and where possible air-dry affected items that have been cleaned in the sun. For areas that have been badly affected or in soft furnishing and fabrics, professional cleaning may be needed. Where required, professional mould cleaning companies can be employed to rectify the issue and restore the property. In some cases, if mould continues to return after cleaning it may indicate that there is a larger issue, and a building inspection with a qualified tradesperson to further investigate may be necessary to ascertain the cause of the mould and work out a plan for treatment and eradication. Mould Prevention Mould loves a healthy amount of moisture to help it grow and eliminating areas of dampness can assist in reducing the potential for it to take hold and cause damage to your home. Some areas to consider in the prevention of mould: Ensure that the property has good ventilation. Turn on exhaust fans, especially in wet areas where steam is produced such as bathrooms, laundries, and kitchens. Dehumidifiers can help to reduce humidity and where possible control the number of indoor plants and use of humidifiers. On warmer or drier days, open windows, and doors to allow for cross-flow ventilation and ensure that weep holes are clear and free from dust or debris. Repair any leaks, clean out gutters and check areas that potentially have rising damp are rectified with adequate sub-floor ventilation. Read more: Smoke Alarm legislation changed on 1 January 2022.
May 12, 2022
Smarter communities: why do we build them?
Smarter communities can be large or small and are ones where a successful hybrid of residential, commercial and community-focused features and amenities coexist. These smarter communities are essentially managed by industry experts in the fields of technology, sustainability practices, infrastructural development and individual/family wellbeing. Together, these elements enhance community cohesion. The creation of this cohesion ensures longevity and sustainability for its developments and lifestyle benefits for its residents. To build a smarter community is to adopt a big-picture outlook; melding affordability with investor/owner/renter appeal, state-of-the-art technology with user-friendly applications and design and interior trends that inspire a biophilic quality. As such, developers in the sector of smarter communities quite simply create happier residents. An industry working with a united vision, delivers intelligent solutions to create a better lifestyle for people living and investing in those communities. Strata and community management firms are driven by customer-centricity and innovation, developing communities and competing in a billion dollar industry. Somewhere near you, this type of community has been built Developed communities are diverse and extensive, covering small-to-medium residential and commercial blocks including townhouses and villas, shop lots and hotels, to large mixed-use high rises. Like smart homes in the era-of-connectivity, smart communities are a natural progression. Television advertisements for newly developed suburbs may have surprised viewers at first. Communities used to require time to develop organically and even though they still do this, applied thinking has changed the way that they can emerge. Development and marketing opportunities Opportunities abound for developers and real estate agents to embrace the challenges of building and marketing newly formed communities. Investing in a smarter community is at the forefront of long-term change for all industry proponents. If created to exact standards and marketed within an affordable price range, the sustainability focus and lifestyle benefits of properties within smarter communities invariably sell themselves.
May 6, 2022
Don’t forget to organise a depreciation schedule
The end of the financial year can be a busy time for property investors, that’s why BMT Tax depreciation are here to remind you of the benefits of arranging a depreciation schedule before 30 June. What is depreciation? Depreciation is the natural wear and tear of a building and the assets within it over time. The Australian Taxation office (ATO) allows owners of income-producing properties to claim depreciation as a tax deduction. There are two types of depreciation. Capital works (Division 43) is claimed on the building’s structure and items that are permanently fixed to the property. And plant and equipment (Division 40) are items which are easily removable from the property or are mechanical in nature. Depreciation is a non-cash deduction, meaning an investor doesn’t need to spend any money to be eligible to make a claim. Because of this, depreciation deductions are frequently overlooked. Failing to claim depreciation can mean missing out on thousands of dollars. During FY 2021/22, BMT found investors an average first year deduction of almost $9,000. Claim the cost of your schedule straight away To maximise deductions and claim all eligible assets, you should organise a tax depreciation schedule as soon after you purchase a property as you can. A BMT depreciation schedule has a one-off cost that lasts the life of the property (forty years) and will ensure all claims are maximised and are fully ATO compliant. The cost of the depreciation schedule is 100 per cent tax deductible, and if you order a depreciation schedule before 30 June you can claim the fee straight back that financial year. This also reduces the risk of forgetting to claim the depreciation schedule’s fee as a deduction in the following financial year. Partial year claims You don’t have to have owned a property for a full financial year before claiming depreciation deductions. You can claim depreciation if you have owned a property for a short time before the end of the financial year, even if that is weeks or days. The depreciation value of the assets will be calculated by how long the property has been owned. For instance, if the property has been owned and rented out for a period of three months, the owner is eligible for 25 percent of the yearly deductions. Receive payments regularly using Pay as You Go (PAYG) By arranging a depreciation schedule sooner, you can access additional cash flow throughout the year by incorporating a PAYG withholding variation. With the help of your accountant, submitting a PAYG withholding variation will estimate your expected tax return for the financial year, allowing your employer to take less tax out of your wages. It’s important to speak with your specialist quantity surveyor to organise a tax depreciation schedule before submitting a PAYG withholding variation as this information will be used to help accurately estimate your tax return. You will still need to visit your accountant at the end of the financial year so they can calculate the actual amount of tax liability. Claim missed deductions It is always advisable to stay on top of your finances by claiming deductions in the same applicable year, as delaying your claim will only add extra confusion and stress to your next tax return. However, if previous depreciation deductions weren’t claimed, the ATO allows you to recover missed payments from past financial years by adjusting your tax return. This is useful for investors who were previously unaware of depreciation deductions. Obtaining your tax depreciation schedule before June 30 is important if you want to maximise your returns and keep your finances on track. To find out how you can organise a depreciation schedule before 30 June contact the tax depreciation experts BMT on 1300 726 728 or Request a Quote. Article supplied by BMT Tax. Bradley Beer (B. Con. Mgt, AAIQS, MRICS, AVAA) is the Chief Executive Officer of BMT Tax Depreciation. Please contact 1300 728 726 or visit bmtqs.com.au for Australia-wide service. Also: Smoke Alarm Legislation changed Jan 1 2022