PIPA In the News

Mon
22 May
2017

The Property Impact

The coming changes to the superannuation rules will impact on just about every aspect of SMSFs. Ben Kingsley takes a look at the implications for property investments.

In November 2016, legislation was passed that will reform Australia's superannuation sector from 1 July this year.

According to Treasury, the Superannuation (Objective) Bill 2016 sets out a clear objective for superannuation "to provide income in retirement to substitute or supplement the age pension".

Some of the measures reduce previous concessions for super account holders with high balances, while others are designed to assist low-income earners, the partially self-employed and retirees.

Wed
10 May
2017

Will budget super saver scheme push up property prices?

Will the first-home super saver scheme push up prices?
Ben Kingsley, chair of Property Investment Professionals of Australia and founding director of Empower Wealth

First-home buyers should welcome the federal government's new superannuation savings scheme, which will provide income tax reductions to help them save a deposit for their first home. From July 1 this year, aspiring buyers can contribute up to $15,000 a year into their super accounts. The maximum for each first-home buyer will be set at $30,000, with the first withdrawals permitted from July 1, 2018.

But what will happen to house prices? Given the large focus on our two biggest markets – Sydney and Melbourne – some commentators will argue that this will add to the demand side of the ledger and push prices higher.

Wed
10 May
2017

PIPA welcomes housing affordability package in Federal Budget

The Property Investment Professionals of Australia (PIPA) welcomes the federal government's well-considered measures to addressing housing supply and demand side issues as revealed in the 2017-18 Federal Budget.

As the peak body for the property investment industry, PIPA has long campaigned for greater education around property investment as well as regulation of property investment advice and remains dedicated to supporting a healthy, sustainable property investment industry.

PIPA chair Ben Kingsley said the association welcomed the federal government's decision to continue the sensible approach to negative gearing and retain capital gains tax discounts for Australians.

Wed
10 May
2017

Federal Budget 2017: Industry reaction

Super

From the Treasurer, Scott Morrison:

On the demand side, for those who are trying to save to buy their first home, we will support them by providing a tax cut on their first home deposit savings.

First home buyers will be able to save for a deposit by salary sacrificing into their superannuation account over and above their compulsory superannuation contribution from July 1.

The First Home Super Savers Scheme will attract the tax advantages of superannuation. Contributions and earnings will be taxed at 15 per cent, rather than marginal rates, and withdrawals will be taxed at their marginal rate, less 30 percentage points.

Thu
04 May
2017

PIPA urges government to adopt 'sensible' measures

Ahead of next week's federal budget, PIPA has called on the government to consider housing affordability strategies that reflect the country's market needs, rather than "radical changes" like axing negative gearing.

Property Investment Professionals of Australia chair Ben Kingsley – who held discussions on the issue with government representatives in April – says the association welcomes the federal government's decision to rule out changes to negative gearing.

He said he is hopeful this decision reflects a more measured approach to addressing affordability issues for both buyers and renters.

Thu
04 May
2017

PIPA urges sensible approach to housing affordability

Property Investment Professionals of Australia (PIPA) has urged the government to take a sensible approach to housing affordability policy, following its discussions with government representatives in April and ahead of the 2017 Federal Budget.

As the peak body for the property investment industry, PIPA has emphasised that regulation and education remained key.

PIPA chair Ben Kingsley welcomed the federal government's decision to rule out changes to negative gearing and hoped this was reflective of a well-considered approach to addressing affordability issues both on the buying and renting sides.

Thu
04 May
2017

Land costs issue for affordability

The cost of developing land needs to be reduced to properly address housing affordability, according to the chief executive of the Master Builders Association.

Housing affordability has become one of the key issues in the lead up to this week's federal budget, with changes to negative gearing and allowing first home buyers to buy homes with their superannuation two of the most debated potential policy changes.

However, the new chief executive of the Master Builders Association, Denita Wawn, said the biggest contributor to rising costs of housing was the cost of developing land.

Wed
03 May
2017

Regulation, training vital in property advice

Property Investment Professionals of Australia (PIPA) has called for greater regulation of direct property investment advice with the introduction of minimum qualification standards that would help protect first homebuyers and remove spruikers from the market.

With the federal government flagging housing affordability as a key priority ahead of the budget next week, PIPA chair Ben Kingsley said property should not be treated as the "perfect panacea" for wealth creation in Australia, and the onus was on government and regulators to develop sensible policies and educate retail investors about the real risks of property investment.

"The main fundamental [problem] here is that there are people who are getting into property investment at the moment believing that it is the bees knees of all investing," Kingsley told financialobserver.

Wed
03 May
2017

What you can expect from the 2017 Federal Budget

It's been 12 months since treasurer Scott Morrison's first Federal Budget and it's interesting to look back at what the main measures were and how they were received.

Morrison's changes to the superannuation rules were by far the most significant measures of the last Budget. Despite being met with criticism, the lifetime cap of $1.6 million and the new contributions caps were passed in the senate and are set to become reality on July 1.

Tax reform was the other big aspect of the 2016-17 Federal Budget with Morrison announcing tax cuts for small- and medium-sized businesses.

This was planned to eventually roll out to businesses of all sizes but has since been met with extensive push back in the senate.

Tue
02 May
2017

Critical time for housing measures: PIPA

With the 2017 Federal Budget looming, the Property Investment Professionals of Australia (PIPA) is urging the government to take a sensible approach to housing affordability policy.

As the peak body for the property investment industry, PIPA has long campaigned for greater education around property investment as well as regulation of property investment advice and remains dedicated to supporting a healthy, sustainable property investment industry.

PIPA chair Ben Kingsley held discussions on housing affordability with government representatives in April.

He said the association welcomed the federal government's decision to rule out changes to negative gearing and hoped this was reflective of a well-considered approach to addressing affordability issues both on the buying and renting sides.

 

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