REIA Pre-Budget Submission by wanghonghx


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  The official newsletter for the real estate profession - Issue103

REIA                                      What are REIA
Pre-Budget                                calling for in the
Submission                                submission?

                                          REIA’s submission calls on
                                          the Government to:
The Real Estate Institute of
Australia has put forward a               •   Retain current
Pre-Budget Submission to the                  arrangements for
Commonwealth Government                       negative gearing of                     Landlord insurance
highlighting a range of issues                property investments;
affecting the property market
                                                                                   that protects your pocket
                                          •   Ensure that the family
that need to be addressed in the
                                              home will not be                     Terri Scheer is Australia’s leading landlord insurance
2011/12 Budget.
                                              subjected to Capital                 specialist.
REIA President, Mr David                      Gains Tax (CGT);                     Our policies can protect you and your clients from
Airey said, “Our focus in this
                                          •   Commit to no increase                risks caused by tenants that standard building,
year’s submission is housing
                                              in Capital Gains Tax on              home and contents insurance may not cover.
affordability and inefficient
                                              property investment;                 Best of all, Terri Scheer ensures that you and your
property taxes.”
                                          •   Remove stamp duty on                 clients are not out of pocket if tenants default or
Of particular concern is the                                                       cause damage.
                                              property transactions;
issue of stamp duty on property
                                                                                   Contact Terri Scheer today on 1800 804 016 or on
transactions. As it was reported in       •   Review the First Home
the Australian Financial Review                                          
                                              Owners Grant (FHOG);
earlier this week, state property                                                  Benefits for Landlords
taxes will bring in almost $20            •   Allow first home
                                                                                     Protects against malicious tenant loss or damage
billion for the states this year.             buyers access to their
                                              superannuation for the                 Protects against accidental tenant loss or damage
In addition to stamp duty, REIA               purchase of a home, and;               Protects against loss of rent
has called for the retention of
                                          •   Monitor Housing                      Benefits for Property Managers
negative gearing of property
investments and for an increase               Affordability Fund (HAF)               Protects management fees
of the FHOG to improve                        and National Rental                    Protects client relationships
affordability in the housing                  Affordability Scheme
                                                                                     Managing property is easier
market and encourage the                      (NRAS) to observe
return of first home buyers in the            their effects on housing             To find out more go to
market.                                       supply and conduct a
                                              review which considers
To view the REIA’s media                      additional measures to
release, click here. To                       bridge the demand -                  Australia’s Leading Landlord Insurance Specialists
download a copy of the                        supply imbalance.
submission, click here.                                                            Landlord Insurance provided by Terri Scheer Insurance Pty Ltd ABN 76 070 874 798
                                                                                   AFSL 218585 (distributor) and Vero Insurance Ltd ABN 48 005 297 807 AFSL
                                                                                   230859 (issuer). Please consider the Product Disclosure Statement before making
                                                                                   any decision regarding this product. Contact us on 1800 804 016 for a copy.

  Real Estate Institute of Australia I 16 Thesiger Court Deakin ACT 2600 I 02 6282 4277 I I
                                                                           Longer-term goals of
                                                                           NRAS overlooked
                                                                           President of the Real Estate Institute
                                                                           of Australia (REIA), Mr David Airey this

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                                                                           week responded to the Government’s
                                                                           announcement that the National Rental
                                                                           Affordability Scheme (NRAS) will be
                                                                           wound-back to provide funds to the
                                                                           re-building effort of flood-affected regions
                                                                           of Australia.
   The official newsletter for the real estate profession - Issue103       According to the Government,
                                                                           “Preliminary estimates, following
Rates remain on hold                                                       consultation with the Queensland
                                                                           Government, indicate that the
                                                                           Government will need to invest $5.6
At its meeting this week, the Board of the Reserve Bank of Australia
                                                                           billion in rebuilding flood-affected
decided to leave the cash rate unchanged at 4.75 per cent. The Board
                                                                           regions, with the vast majority going on
judged that the current stance of monetary policy remained appropriate
                                                                           rebuilding essential infrastructure. Two-
in view of the general macroeconomic outlook.
                                                                           thirds of that funding will be delivered
                                                                           through spending cuts.”
For further information on this decision, click here. To read the REIA’s
media release on this issue, click here.                                   The NRAS will be one area where
________________________________________________________                   cuts will apply with the winding back of
                                                                           the scheme from a proposed 100,000
ABS House Price Index                                                      homes to 35,000.
                                                                           In its media release the REIA questioned
The Australian Bureau of Statistics this week released House Price         whether the appropriate programs had
Indexes: Eight Capital Cities for the December 2010 quarter.               been targeted to fund the re-building
                                                                           efforts after the floods.
Preliminary estimates show the price index for established houses for
the weighted average of the eight capital cities increased 0.7% in the     The REIA proposed that the longer-
December quarter 2010. The capital city indexes increased in Sydney        term goals of the NRAS have been
(+1.6%), Melbourne (+1.3%), Brisbane (+0.7%), Adelaide (+1.1%),            overlooked which will be detrimental
Canberra (+1.9%) and Hobart (+1.1%), and decreased in Perth                to improving affordability in Australia –
(-3.2%). There was no change in the index for Darwin.                      such a crucial issue at present”,
For further information, click here.                                       To read REIA’s media release, click here.

       2011Awards for                                            Tickets for the 2011 REIA
                                                                 National Awards for Excellence
       National                                                  are NOW ON SALE.

       EXCELLENCE                                                Click here to find out more.
                                                                                                         Find your REI
                                                                                                         REIA has seven members, these
                                                                                                         members are the state and territory Real
                                                                                                         Estate Institutes.
                                                                                                         Your state or territory body can assist

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                                                                                                         you with information which is relevant to
                                                                                                         being an agent in your state or territory.

                                                                                                         For contact details, see below:
                                                                                                         16 Thesiger Court Deakin ACT 2600
    The official newsletter for the real estate profession - Issue103                                    Tel: 02 6282 4544
Australians to delay home purchase
A poll released today by mortgage provider Homeloans Ltd shows                                           21 Turbo Drive Coorparoo QLD 4151
that almost half (45 per cent) of Australian home buyers will delay                                      Tel: 07 3249 7347
purchasing a property in 2011 due to rising interest rates and the                             
cost of living. And one in three of those will put all major household
spending - such as a new car, holiday or consumer goods - on hold
                                                                                                         Unit 3/6 Lindsay Street Darwin NT 0801
for 2011.
                                                                                                         Tel: 08 8981 8905
According to the Homeloans Home Buyer Barometer Q1 2011,                                       
which surveyed 2000 Australian first home buyers, homeowners and
investors, of those who will delay buying a property, only six per cent
                                                                                                         215 Hay Street Subiaco WA 6008
are planning to do so within the next six months and 74 per cent have
                                                                                                         Tel: 08 9380 8222
reconsidered how much they are able to spend.
For further information, click here.
                                                                                                         249 Greenhill Road Dulwich SA 5065
                                                                                                         Tel: 08 8366 4300
APRA monthly banking statistics                                                                

The Australian Prudential Regulation Authority released the statistics                                   REIV
publication, Monthly Banking Statistics for December 2010.                                               335 Camberwell Road
                                                                                                         Camberwell VIC 3124
The Monthly Banking Statistics publication provides selected                                             Tel: 03 9205 6666
information on the banking business of individual banks within the                             
domestic market.
It contains high-level breakdowns of the domestic assets and                                             33 Melville Street Hobart TAS 7000
liabilities of each bank as well as more detail on loans & advances                                      Tel: 03 6223 4769
to and deposits by different sectors of the economy. Information                               
on securitisation activity is also included. Both Australian-dollar
denominated transactions and the Australian-dollar equivalent of                                         REIA CONTACT DETAILS:
foreign-currency denominated transactions are included.
                                                                                                         16 Thesiger Court Deakin ACT 2600
For further information, click here.                                                                     Tel: 02 6282 4277

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•    REIQ Awards for Excellence

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