Client of the month – March (Pinnacle Properties Qld)

Xperion

Our client of the month for March is Von and John Barnes from Pinnacle Properties Qld a real estate agent located in Enoggera. Pinnacle Properties had its official launch last month which was formally opened by the Honourable Teresa Gambaro MP Federal Member for Brisbane. Xperion assisted Von and John in a number of areas for their new business venture, including; putting the right business structure in place setup and…  Read more

Common errors with GST withholding rules for property transactions

Xperion

GST withholding… The ATO has noticed some common errors made in activity statements since the introduction of “GST at settlement” on 1 July 2018.  These new laws require purchasers to withhold GST on settlement (and pay it to the ATO directly) generally when buying ‘new residential premises’ from developers. In particular, the new “GST at settlement” law does not affect a supplier’s obligation to lodge their activity statement and report…  Read more

Real estate agents and commissions only remuneration

Xperion

Hopefully all of you know about the changes that happened last year, in April 2018. It is now though, 12 months later that you need to look back and ensure that you comply with the Fair Work and Real Estate Industry Awards and that your staff that have been on commission only, can continue to do so. What were the changes introduced? New broad-band classification structure The old job titles…  Read more

Transferring property into a SMSF

Xperion

You can currently transfer the ownership of some types of property directly into your Self Managed Superannuation Fund (SMSF). They are: Business real property (used exclusively for the running of a business), for example a warehouse you conduct your business from; Listed securities (such as shares in companies listed on the stock exchange); In-house assets, for example an investment in a related party – provided that the market value of…  Read more