22 May The week that was – election mayhem!
Wow, what a weekend! ScoMo is still the PM, the budgie-smuggling Abbott is out, the stock-market has surged in the wake of the Liberal re-election, the ABC’s wizard computer has predicted a majority government and Sportsbet lost a reported $1.3m from its early payout of electoral wagers. Whoops! With all the goings-on and the gob-smacking display of shock/hatred/devastation/disbelief from both members of Parliament and the public, it’s been difficult to sift through the news to get an unbiased view of what we can realistically expect from the returning Government.
Already we are seeing reports that election promises will be delayed, there are seemingly some 30,000 candidates vying for the title of ‘Leader of the Opposition’ and there is some (not unwarranted) concern around the proposed ‘leg-up’ for some first-home borrowers who will need only 5% deposit with no LMI – errrrm, responsible lending………anyone?
CoreLogic reports that only 917 homes were taken to auction the week of the election, it’s fascinating to watch how the country grinds to a halt – hilariously a different form of the race that stops the nation. In line with the stock market’s upward trajectory much of the commentary around housing has been exceptionally positive post-election with developers seemingly thrilled that negative-gearing is now safe. Just this morning it was reported that Harry Triguboff has canned his 10% discount for new apartments in expectation of a rate drop and ScoMo’s ‘leg-up’ coming to fruition.
We anticipate it will be a few weeks until a clear picture is available of just what to expect and when. Over here, we are focusing on helping our clients make the most of the remaining few weeks of the 2018/2019 financial year and take this opportunity to remind you to keep your eyes on the prize!
If you are looking for some light reading, our Top tips to end the financial year with a bang! article can give you some helpful suggestions about the last minute steps you can take to ensure a stress-free EOFY while our All about cash flow article has the goods to help you manage, control and improve your cashflow.
If you find you are cash short over the period, we are here to help. We don’t often meet a proposal we can’t fund so send us an email with your needs and we’ll do our best to help. Some recent short-term scenario’s we have funded are below for your reference.
|Stock Purchase||Industrial Shed||$550k||3 months||10%|
|Development Land Purchase||Land||$1.5m||12 months||12%|
|ATO Debt||Resi House||$400k||5 months||9%|
|Business Finance & Restructure||Commercial Property||$750k||9 months||9.5%|
In some exciting news around the office this week, we welcome Leanne to the team, Leanne joins us from a local broking firm where she operated as a Personal Assistant/just-get-it-done lady. We are absolutely delighted to welcome her to the team and know our valued clients will look forward to hearing her friendly voice on the other end of the line.