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Real Estate Business Awards 2021

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

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top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
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top suburbs

12 month growth
Warren
49.59%
Mullumbimby
49.48%
Waverton
49.18%
Blairgowrie
48.97%
Porepunkah
48.95%
Streaky Bay
48.89%
Bruce
48.67%
Koolewong
48.46%
Failford
48.4%
Victory Heights
48.22%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Time has arrived for agencies to cash in on Budget benefits

By Justin Steer
28 July 2015 | 1 minute read
James Steer

Now we’re several weeks into the new financial year, many real estate agencies have started to see how the Federal Budget will affect them. With some winners and some losers, most agency owners are left wondering what lies ahead for them.

Here’s a summary of the main pros and cons of the budget for small businesses and what it means for your agency.

The positives:

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1) Businesses with an annual turnover of less than $2 million can claim immediate tax deductions for as many sub-$20,000 purchases as they want before 30 June 2017, rather than having to claim those purchases as deductions spread over several years

2) Compliance costs for businesses and individuals have been reduced, with the federal government setting a target of reducing compliance costs by $1 billion each year

3) Company taxes have been reduced from 30 per cent to 28.5 per cent

4) With the retirement age in Australia set to increase to 70 by 2035, a large chunk of the Australian labour force will be made up of senior citizens. Small businesses that hire employees over the age of 50 will receive a $10,000 incentive from the government

5) The government has promised $29.4 million in assistance for small- and medium-sized businesses quoting for government services and tenders

6) Another $12.9 million has been allocated to help businesses access the National Broadband Network

7) The superannuation concessional contribution cap has been increased, and individuals will be allowed to withdraw any excess concessional contributions from their fund

8) The government has also promised funding to standardise the business name registration process

The negatives:

1) Self-education expenses are capped at $2,000 per year. Most conferences and training courses these days cost more than that

2) The fuel excise rate has increased, which means that businesses have to pay more for transportation and logistics

3) The ATO will receive additional funds in order to investigate and crack down on tax compliance among trusts. This is a structure used by many small business owners in Australia, especially in our rural communities

4) There will be more upfront checks for new businesses wanting to register new Australian Business Numbers and an increased business-name registration fee

Overall, it seems the pros outweigh the cons for the majority of small- and medium-sized businesses in Australia. Real estate agencies in particular can also be helped by accessing services such as advance commission loans to maximise cash flow. With this kind of assistance available, agencies can plan for expansion, hire additional staff or buy new equipment to run their real estate agency that may have not been previously possible.

 

Time has arrived for agencies to cash in on Budget benefits
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ABOUT THE AUTHOR


Justin Steer

Justin Steer

Justin Steer is CEO of both Commission Flow and Campaign Flow.

Both companies were founded with a vision to change the way Real Estate Agency Principals access the finance they need to grow, with an innovative, secure and flexible approach.

Justin has been an active participant in the real estate industry for nearly 25 years.  

In his spare time, Justin can usually be found swimming, cycling or running as he prepares for his next Ironman event.

 

top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
Do you have an industry update?

top suburbs

12 month growth
Warren
49.59%
Mullumbimby
49.48%
Waverton
49.18%
Blairgowrie
48.97%
Porepunkah
48.95%
Streaky Bay
48.89%
Bruce
48.67%
Koolewong
48.46%
Failford
48.4%
Victory Heights
48.22%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.