Newsletter

Shared Equity Home Buyer Helper is the NSW Government initiative that makes it easier and much more affordable for eligible people to buy a home.

With Shared Equity, the NSW Government lightens the load of a mortgage by contributing up to 40% of the purchase price of a new home and up to 30% towards an existing house. In exchange, the Government holds an equity share in the property – but the home is yours.

Land may currently be exempt from land tax where only one of multiple owners occupies the property as a principal place of residence even in cases where they own only a tiny proportion of the property.

CHECK YOUR FAMILY CIRCUMSTANCES

Accurately reporting your family details is critical to correctly calculate the Medicare levy, Medicare levy surcharge (MLS) or private health insurance rebate amounts in your tax return. Getting this right will help avoid an audit or delays in processing your tax return from the Australian Taxation Office (ATO).

If you use money or assets from your company or trust for private purposes and do not account for the transactions correctly, there can be tax consequences. That’s why it’s important to get it right.