Western Property July 2 2021

FOR THE HOME OWNER, THE HOME SELLER AND THE HOME BUYER ISSUE 357

the western weekender

Western Property

BUY NOW! LATEST LISTINGS INSIDE! FIND YOUR DREAM PROPERTY TODAY

TAX TIME TIPS FOR INVESTORS

OUR BUY OF THE WEEK!

OPEN HOMES & RENTALS GUIDE

SEE PAGE 3

SEE PAGE 9

SEE PAGE 13

Phil Haley 0412 355 020

Litsa Meleti 0466 969 164

Gizzelle Powell 0428 934 618

Paul Tanner 0410 587 553

Peter Parker 0408 432 998

Victor Borg 0439 755 081

Dorothy Scott 0452 317 217

Alana Neville 0497 848 414

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NEWS FEATURE

TAX TIME CONFUSION TIPS FOR INVESTMENT PROPERTY OWNERS Preparing your tax return can often be a confusing and arduous task, with the ATO performing a review of individual tax returns last year and finding that an astounding 90 per cent of investment property owners were making mistakes in their tax return.

Lloyd Edge (pictured right), Director of Aus Property Professionals and author of Positively Geared, has seen first-hand that a number of his clients are finding it difficult to navigate through the deductibles, depreciation, and tax benefits.

So, if you’re a landlord and need a helping hand, Lloyd has shared the five main tax considerations and tips for 2021...

Get the numbers right: Is your investment property jointly owned with two or more owners?

If so, the rental income and expenses from the property must be divided among the co-owners according to their legal interest in the property. This is despite any written or oral agreement between the co-owners stating otherwise e.g. even if you’ve agreed that one owner can claim

100 per cent for tax purposes, you cannot do this.

Ensure you keep records from the very beginning: If you invest in a rental property or rent it out, you’ll need to keep records right from the start so you can work out what expenses you can claim as deductions and ensure you declare all your rental-related income in your tax return. Proof of expenses can be in the form of receipts, bank statements, or credit card statements. You will also need the records of the date and costs of buying the property so you can work any capital gain (or loss) when you dispose of it.

Declare all rental related income: Alongside the full amount of rent, you must also include rental bond money you become entitled to retain e.g. when a tenant defaults on rent or you incur maintenance costs, insurance payouts in some circumstances, letting and booking fees you receive, associated payments you receive as a part of the normal, repetitive and recurrent activities through which you intend to generate profit from the use of your rental property

and reimbursement or recoupment for deductible expenditure.

It’s important to note that GST doesn’t apply to rent on residential premises – you’re not liable for GST on the rent you charge.

Follow the rules: To claim deductions for expenses, your property must include a dwelling that is rented or available for rent.

There are many expenses you can claim, including repairs and maintenance, interest expenses, legal expenses, depreciating assets and borrowing expenses.

You need to navigate Capital Gains Tax when you sell your investment property: A capital

Western Property

EDITORIAL CONTACT Troy Dodds • 4722 2998 troy.dodds@westernweekender.com.au

SALES DIRECTOR ARTWORK Chris Pennisi • 0421 121 985 Jennifer Zuleni • 4722 2998 chris.pennisi@westernweekender.com.au artwork@westernweekender.com.au

ISSUE NUMBER 357

Produced by The Western Weekender

gain, or loss, is the difference between what it cost you to obtain and improve the property (the cost base), and what you receive when you dispose it. Amounts that you’ve claimed as a tax deduction, or that you can claim, are excluded from the property’s cost base.

Even if you have an investment property that isn’t rented out e.g. a holiday home, the property is subject to CGT in the same way as a rental property.

“I have outlined the key considerations and tips, but I do encourage investors to use a registered tax agent,” Lloyd said.

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NOBODY IN THE WORLD SELLS MORE REAL ESTATE THAN RE/MAX.®

Central Coast

Duplex or Dual Key

Dual Key

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DUPLEX OR DUAL KEY TURNKEY

EXCELLENT INVESTMENT: DUAL LIVING!

• Investors

• Separate entries • Soundproof firewall • Only pay one set of council rates • Turn key home • Two rental income returns, or live in one and rent out the other

2 rental incomes, capital growth

• All included in price: landscaping, driveways, separate gas, water & electricity meters, aircon, & more • Potential combined rent $750+p/w

LITSA MELETI Want to know more?

Call me on 0466 969 164 Your Investment Specialist

Approximate Rental return: $600-$660pw

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Sale : $488,900 Inspection: By Appointment GIZZELLE POWELL M: 0428 934 618 E: gizzellepowell@remax.com.au

Very Happy Vendor Sale of our townhouse I strongly recommend Litsa from Remax Lifestyle Marketing, Penrith to everyone because of her hardworking nature, honest approach and professionalism towards business.

I wish her all the best for future.

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T Thinking of Selling or Investing?

P Please give me a call or SMS Litsa on 0466 969 164 0

8 Freesia Pl, Glenmore Park 6+ Teenage Retreat

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2+

27 Windermere Ave, Cambridge Park 6

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PALATIAL HOME WITH 6 BRs + PARENT/TEENAGE RETREAT

TWO-STOREY HOUSE + RETREAT + STUDIO

• Six generous sized BRs, 3 BRs fitted with BIs • Game room and living room which • Master bedroom with WIR, fully renovated ensuite can be turned into another BR plus freestanding bathtub and sunroom • Spacious rumpus/sitting area • Parent/teenage retreat downstairs with ensuite upstairs and sitting room • Ten metre long swimming pool CALL GIZZELLE FOR INSPECTION • Fully renovated main bathroom with M: 0428 934 618 freestanding bath and tiled up to the ceiling E: gizzellepowell@remax.com.au

• Six generous sized BRs, five fitted with BIRs bathroom, laundry and living room • Four BRs upstairs plus two downstairs with separate access and is ideal • Contemporary kitchen boasts ample cupboards for someone who would like to run with stainless steel appliances business or office from home • Attached self-contained parent or teenage retreat • Swimming pool with kitchenette, bathroom, laundry and CALL GIZZELLE FOR INSPECTION living room M: 0428 934 618 • Self-contained studio with kitchenette, E: gizzellepowell@remax.com.au

2+

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Put Our Winning Team to Work 4

Phil Haley 0412 355 020

Western Property Magazine

Litsa Meleti 0466 04 969 164

Gizzelle Powell 0428 934 618

Paul Tanner 0410 587 553

Victor Borg 0439 755 081

Kassandra Richards 0405 329 851

Alana Neville 0497 848 414

Peter Parker 0408 432 998

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FOR SALE BY LITSA MELETI GLEN G L E NMO M OR RE E PA R K

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CO SO MI O NG N

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LITSA MELETI & ALANA NEVILLE M: 0466 969 164 / 0497 848 414 E: litsameleti@remax.com.au

WA LLACIA L L AC IA – 2 2 H E ECTA C TAR RE ES S

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43 COLLEGE STREET, CAMBRIDGE PARK

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Indoor

DA Approved for 5 Townhouses

Litsa Meleti 0466 969 164 litsameleti@remax.com.au www.facebook.com/westernpropertymag

If you are considering selling your property, please contact Litsa Meleti today for a confidential discussion and market appraisal.

Western Property Magazine

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Contact Litsa Meleti Today, these houses won’t last long on the market!

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HOT OFF THE PRESS FROM GIZZELLE POWELL

INSPECTION: CALL GIZZELLE

8 St Charbel Boulevard WERRINGTON M Se Ho od tt m er n ler e s P in lac e

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7 Wembley Avenue CAMBRIDGE PARK

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+ Study

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81 Doonmore Street PENRITH

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F or irst Per As Ho fec tu m t f te e or In Bu ve ye st rs or s

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LAND SIZE: 828m 828m2 INSPECTION: CALL GIZZELLE

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62 Parker Street KINGSWOOD Bl C all ock orn Am Cl er o en se iti to es

he tow ar nh 3t o o BR f use Ki in ng sw the oo d

4/4 Derby Street KINGSWOOD

INSPECTION: CALL GIZZELLE

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5 Beren Place CRANEBROOK

Lo lo cat lo cat ion ca io , tio n, n INSPECTION: CALL GIZZELLE

INSPECTION: CALL GIZZELLE

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INSPECTION: CALL GIZZELLE

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What’s your Property worth?

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Western Property Magazine

Book your FREE Appraisal now with one of our Winning Team on 4732 6007

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Contact Litsa Meleti Today, these houses won’t last long on the market!

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NOBODY IN THE WORLD SELLS MORE REAL ESTATE THAN RE/MAX.®

Live life? Or buy-ahome? Apartment Living can give you both!

Entry to luxury Level – heaps to choose from Call Alana Neville on 0497 848 414

VALUE HOMES IN HIGH GROWTH AREAS INVESTMENT OR SEA-CHANGE? Central Coast, Hunter, Lochinvar, Dora Creek Many more locations NSW and Qld Call Alana Neville on 0497 848 414

SELLING FAST – LAND-HOME PACKAGES BUILD TO YOUR PLANS OR OURS Entry gates at end of Silkwood Ave, Claremont Meadows.

Estate Inspection by private appt.

Alana Neville 0497 848 414 Victor Borg 0439 755 081

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Book your FREE Appraisal now with one of our Winning Team on 4732 6007 Western Property Magazine

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Western Property Magazine

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3 Leane Place, Cranebrook

BUY OF THE WEEK

$790,000 – $850,000

IT’S A BEAUTY!

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Open for Inspection: Private inspection only due to COVID-19 Contact: Raine & Horne Penrith Lori Howell • 0428 968 742

What makes this property stand out?

Its immense street appeal, in quiet neighbourhood and the property is immaculate.

Modern kitchen and bathroom, brand new carpet, blinds and paint. The backyard is amazing, undercover entertaining and a huge spacious backyard.

Who should buy this property?

Ideally suited for a first home buyer looking for a property that they have nothing to do as all the work has been done.

What’s the suburb like?

Beautiful location, shops and schooling only 1.6kms away.

Boxes from

$ .50

1

• REMOVALS • SELF STORAGE • TRUCK HIRE • BOX SHOP

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Western Property Magazine

Interstate investor Ian Spilsbury from Alice Springs, NT, is just one of our many success stories . . .

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BROKING BREAKDOWN

OFFSET ACCOUNTS YOUR SECRET TO SAVING MONEY

MARK STEVENSON BELLPARTNERS.COM

While most mortgage holders will be aware official interest rates are unlikely to be reduced from their current record lows and will most likely rise if the economy keeps improving, what other strategies are there to save money and pay off your home loan faster?

If you can afford to do so at the moment, it would be wise to be channelling your savings into a mortgage offset account or simply making extra payments on your home loan.

An offset account is another bank account which, rather than earn interest on any savings, reduces the amount of interest on your monthly loan repayments.

Every dollar in your offset

account will reduce the amount of interest you pay while it is in your account. This means interest will be calculated on a smaller principal amount, saving you money.

If your loan amount is $500,000 and you have $5,000 in your offset account, your daily interest will be charged on the amount of $495,000.

The more money you have in your offset account, the bigger your savings on interest payments.

Lenders do not offer an offset option with every mortgage. A good finance broker can help you secure a loan that is eligible to have an offset account attached to it.

Mark’s Shout...

There is no limit on the amount of money that can be withdrawn from your offset account. It’s no different to withdrawing money from any bank account, though it will readjust the calculation on your loan repayments. However, it pays to maintain a decent balance. If you can, have your salary or wages paid directly into your offset account, so your money is offsetting your interest during the month. If you were able to maintain a balance of $20,000 in an offset account over a 30-year, $500,000 loan, you can potentially save more than $25,000 in interest and you would pay off the loan sooner. Worth considering!

Contact Richard Vella on 0419 018 866

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Richard Vella Excavations has your entire excavation needs covered, offering excellent quality and reliable service

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We also provide Landscaping, Paving and Retaining Walls.

Landscape Preparation and Laying Turf.

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RENTAL PROPERTY GUIDE PROPERTIES FOR RENT SUBURB

DESCRIPTION

RENT

AGENT

CASTLEREAGH Castlereagh

4 bdr

$900pw

4725 3100 Penrith Professionals Real Estate

RENT

AGENT

Marsden Park

4 br home

$600pw

9673 4422 St Marys Professionals

PENRITH 4 br home

$620pw

9673 4422 St Marys Professionals

JAMISONTOWN Jamisontown

DESCRIPTION

MARSDEN PARK

EDMONSON PARK Edmonson Park

SUBURB

2 bdr unit

$390pw

4725 3100 Penrith Professionals Real Estate

Penrith

3 bdr townhouse $500pw

4725 3100 Penrith Professionals Real Estate

Penrith

2 bdr townhouse $450pw

4725 3100 Penrith Professionals Real Estate

Penrith

1 bdr unit

$370pw

4725 3100 Penrith Professionals Real Estate

Penrith

3 bdr townhouse $400pw

4725 3100 Penrith Professionals Real Estate

3 br home

$400pw

9673 4422 St Marys Professionals

3 br home

$330pw

9673 4422 St Marys Professionals

2 bdr villa

$340pw

4725 3100 Penrith Professionals Real Estate

St Marys

1 br grannyflat

$215pw

9673 4422 St Marys Professionals

St Marys

4 br townhouse

$420pw

9673 4422 St Marys Professionals

3 br townhouse

$380pw

9673 4422 St Marys Professionals

JORDAN SPRINGS Jordan Springs

4 br home

$560pw

9673 4422 St Marys Professionals PLUMPTON

KINGSWOOD Plumpton Kingswood

1 bdr unit

$240pw

4725 3100 Penrith Professionals Real Estate

Kingswood

3 bdr unit

$300pw

4725 3100 Penrith Professionals Real Estate

Kingswood

2 bdr unit

$250pw

4725 3100 Penrith Professionals Real Estate

Kingswood

2 bdr unit

$320pw

4725 3100 Penrith Professionals Real Estate

Kinsgwood

2 bdr unit

$210pw

4725 3100 Penrith Professionals Real Estate

Kingswood

3 bdr house

$470pw

4725 3100 Penrith Professionals Real Estate

Kingswood

3 bdr townhouse $360pw

4725 3100 Penrith Professionals Real Estate

SHALVEY Shalvey SOUTH PENRITH

LETHBRIDGE PARK

South Penrith ST MARYS

Lethbridge Park

2 br home

$350pw

9673 4422 St Marys Professionals

WERRINGTON

Lethbridge Park

3 br home

$370pw

9673 4422 St Marys Professionals

Werrington

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Outer Western Sydney FOR SALE

37 Cotterill Street, Plumpton

997m2 Land + Dual Street Access + Subdivision Potential

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2

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On offer is a 3 BR brick/tile home & a 2 BR granny flat Just Listed offering dual street access which may allow for subdivision subject to approval. House features: INSPECT By Appointment • Access from Cotterill St, Plumpton • 3 BRs with BIs ADDRESS 37 Cotterill Street, Plumpton • Bathroom with separate toilet • Air cond CONTACT Professionals St Marys 9673 4422 • Rear pergola • Double detached garage Geoff Gray 0418 299 315 • Currently leased to long-term tenant paying $400pw.

Granny Flat: • Access from Pringle Rd, Plumpton • Totally separate from the house • Total size approx 60m2 • 2 BRs • Air cond • Combined bathroom/laundry • Off street parking • Currently leased at $280pw

FOR SALE

158 Explorers Way, St Clair

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Strolling Into St Clair • Brick veneer home located on the high side of the street with 3 generous sized bedrooms • L-shaped lounge & dining area with split system air cond • Kitchen with gas cooking • Internal laundry • Single lock-up garage • Under cover entertaining area • Close to school, shops, parks, M4 on ramp and new industrial area at Erskine Park • Tenants paying $380 per week and would love to stay on

FOR SALE

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$599,000 - $639,000 INSPECT By Appointment ADDRESS 158 Explorers Way, St Clair CONTACT Professionals St Marys 9673 4422 Rob Masters 0414 281 291

16 Shackleton Avenue, Tregear

Thinking ’bout TREGEAR

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Under instructions from NSW TRUSTEE AND Has To Be Seen GUARDIAN INSPECT By Appointment Situated conveniently near schools, parks, shops and ADDRESS 16 Shackleton Avenue, Tregear the local community centre is this neat 3 bedroom home with a 2 bedroom council-approved granny flat! CONTACT Professionals St Marys 9673 4422 All the hard work is done and posing a potential Rob Masters 0414 281 291 combined rental return of around $650 it’s just waiting for an investor or big family with extras.

FOR SALE

10 Alexandra Place, Glendenning

Glowing in Glendenning

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• Kitchen with dishwasher and gas cooking • 3 goodContact Agent sized bedrooms with built-in robes & ceiling fans INSPECT By Appointment • Open plan lounge and dining with split system AC ADDRESS 10 Alexandra Place, Glendenning • Low maintenance backyard with pergola and the perfect space for playing or entertaining • Single CONTACT Professionals St Marys 9673 4422 garage with internal access to laundry and garage Rob Masters 0414 281 291 • Tenants paying $460pw and wanting to stay on • All adds up on this 462sqm approx. Move in to downsize or keep the investment there is no bad option here.

professionalsouterwesternsydney.com.au WW41442

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Western Property Magazine

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Outer Western Sydney FOR SALE

50 Fantail Crescent, Erskine Park

Well-Loved Family Home

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2

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Large family home offering quality inclusions • 4 good- $899,950 - $949,950 sized BRs with BIRs, main with ensuite • Large galley INSPECT By Appointment kitchen with gas cooking & breakfast bar • Informal ADDRESS 50 Fantail Crescent, Erskine Park dining/living area off the kitchen • Spacious lounge & CONTACT Professionals Erskine Park 9834 3555 dining room on entry, plus additional family/living Angelo Mavris 0425 361 696 room • 3-way main bathroom • Ducted a/c • Large covered alfresco entertainment area • Manicured gardens • Garden shed • Double lock-up garage & double width driveway • Secure side access • All of this on a 627 sqm block. Potential rental return of $600-$650pw.

FOR SALE

18 Strauss Road, St Clair

Nothing To Spend!!

Split level home on 561sqm • Living/dining • Large open kitchen, stainless steel appliances & walk-in pantry • Spacious renovated bathroom with large vanity & 2 basins • Large rumpus room which could be used as a 2nd living area, 4th bedroom or home office • Access to outdoor deck • Large master bedroom with WIR & ensuite • Air cond • Returning $540pw

FOR SALE

26 Capella Street, Erskine Park

Call for Private Inspection Set on a large 629sqm block is this recently renovated family home featuring: • 4 bedrooms, 3 with BIRs • Multiple living areas • Kitchen with gas cooking, dishwasher & stainless steel appliances • Huge outdoor entertainment area • Manicured lawns • In-ground pool • Double lock-up garage • Ducted air cond • Rental potential $600-$650pw

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$889,950 - $929,950 INSPECT By Appointment ADDRESS 26 Capella Street, Erskine Park CONTACT Professionals Erskine Park 9834 3555 Angelo Mavris 0425 361 696

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2

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$849,950 INSPECT By Appointment ADDRESS 18 Strauss Road, St Clair CONTACT Professionals Erskine Park 9834 3555 Angelo Mavris 0425 361 696

FOR SALE

632m2 Corner Block

Tregear

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Are you looking for an opportunity to become a first Contact Agent home buyer or investor? Well look no further than Tregear. Nicely set on an approximate 632m2 block, INSPECT By Appointment with the possibility of a street facing granny flat ADDRESS Tregear (STCA) • 3 bedroom home • Electric kitchen • Separate CONTACT Professionals St Marys 9673 4422 dining/lounge room • Air conditioning, plus oil heater Rob Masters 0414 281 291 that actually works • Single car garage • Large side access and fully fenced property • Rental return $360 per week. Don’t miss out on this one.

professionalsouterwesternsydney.com.au WW41443

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Penrith Greater Region and Blue Mountains OPEN FOR SALE HOME

15 15Marscay MarscayStreet, Street Kellyville Ridge

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This Is Sure To Impress You!!

• Massive 4 bedroom Bellevale designed home • Formal lounge with parquetry flooring plus huge tiled family area • Beautiful Tasmanian blackwood timber kitchen • Ducted A/C & LED downlights throughout • 14m under cover tiled entertaining area • Manicured lawn & gardens set on a 495m2 block

FOR SALE

Simply Stunning – Perfect Location!!

• Beautifully renovated 3 bedroom family home • Stunning modern fixtures & finishes • Gorgeous kitchen with Caesarstone benches • Amazing stylish bathroom with loads of appeal • Established lawn & gardens set on this fully fenced 560m2 block

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Price $1,360,000 INSPECT By Appointment ADDRESS 15 Marscay Street Kellyville Ridge CONTACT Professionals Penrith 4725 3100

137 York Road, Jamisontown

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1

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$769,950 INSPECT By Appointment ADDRESS 137 York Road, Jamisontown CONTACT Professionals Penrith 4725 3100

FOR SALE

12 Coronation Grove, Cambridge Gardens

Family-Friendly Neighbourhood • Fantastic 3 bedroom family home • Two spacious living areas • Stunning renovated bathroom • Large modern kitchen • Currently leased ret. $450 per week • Fully fenced 681m2 allotment

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$759,950 INSPECT By Appointment ADDRESS 12 Coronation Grove, Cambridge Gardens CONTACT Professionals Penrith 4725 3100

penrithprofessionals.com.au 02 4725 3100 253 High Street, Penrith

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Western Property Magazine

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Rise Conveyancing is going virtual!

We now provide a fixed fee, online Conveyancing service using state of the art technology. This enables us to provide clients with access to legal services, regardless of where they live.

Online doesn’t mean impersonal!

Our streamlined process allows even the busiest of people the opportunity to access quality conveyancing for the fraction of the cost of our competitors.

We are dedicated, experienced and are available 24/7 to attend to all your property needs and answer any questions as they arise.

A virtual Conveyancing service can increase profitability, quality, efficiency, and productivity, all while reducing your stress Call us today for more information

0447 484 907 An unintended positive consequence of dealing with the Covid pandemic was that remote work was met with resounding success by many industries including the legal industry. The widespread availability and ease of use of technologies to collaborate and stay in constant contact, such as Zoom, WhatsApp, and others, enabled people to smoothly adapt to the new setup and possibly continue long term.

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kristen@riseconveyancing.com.au www.riseconveyancing.com.au www.facebook.com/westernpropertymag

PO Box 1818, Penrith NSW 2751 0447 484 907 Western Property Magazine

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INVESTMENT SERIES

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Learn all about topics like where to get started, tax benefits, purchasing an investment property, selling and more.

westernweekender.com.au/specialfeatures 18

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SPECIAL ADVERTISEMENT SERIES

INVESTMENT PROPERTIES Purchasing an investment property interstate Leveraging your SMSF: Purchase Property Interstate Katherine Hawes | Principal Solicitor Diversifying, matching markets with your investment strategy and property affordability are the key advantages to buying interstate real estate. You can leverage the capital in your Self-Managed Super Fund to purchase the right property.

Adding to your portfolio means being aware of the pros and cons of interstate property purchasing to mitigate the risk.

1. Variable property markets means there are different cycles in different states which means balancing capital gains and rental yields.

2. Tax savings are available as property costs vary between states and territories, who vary government charges like stamp duty and States tax thresholds.

3. A diverse portfolio in interstate property assists in mitigating risk as different markets offer properties at low rates which makes investing more affordable than restricting to your neighbourhood.

4. Buyer’s Agents and Property Managers match properties to your investment strategy making leasing to the right tenant easier and the costs are tax deductible.

5. Different laws and regulations means it is common in Sydney to arrange finance in advance, but in Queensland, it is common to sign property contracts subject to approval for finance. Your experienced solicitor can navigate the differences.

6. Distance creates additional costs by going in person or using professionals to assist but these costs are tax deductible and worth the investment.

It also means researching and understanding the new market relative to the best investment e.g., an apartment V tenants

preferring to rent houses. Liaise with property managers in the area to get a sense of the market and download property reports to get real insights into your preferred area.

Our advice to you: Research is required to make the right decision.

Experts engaged in advance - solicitor, accountant, professional property valuator, a property inspector and possibly a buyer’s agent.

Local laws and regulations explained by your solicitor so you enjoy tax benefits and returns on investment.

Buy following inspection in person, or via buyer’s agents.

Hire a property manager.

Use a mortgage broker to save money across the lending markets.

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To protect your assets and meet the legal obligations of a self-managed super fund, talk to us!

02 9297 2765 | info@smsflawyers.com

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Ensuring your investment strategy is legally compliant.

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Would you like to know the value of your home in the current market?

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I look forward to meeting you.

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