Home Stamp Duties and Land taxes

Over the last fifteen years, Victorian Stamp Duty taxes have rocketed over four times; from $728 M to $4.82 BN. This brings the average Samp Duty to $29,000 a home. All the while, massive concessions are available for most other States. Even a total concession for homes under $500,00 in NSW. This iniquitous tax was to be removed as part of the GST tax package, both the Land tax and Stamp Duty were to be abolished. In the lead up to the Victorian State election, I am expecting some great promises on Stamp Duty reduction. Currently, these concessions have not been announced, so I will need to up date this later. the latest announcement area phasing down of Victorian Stamp Duty over four years leading to a fifty percent cut in the iniquitous duty. In Victoria, the best current concession is to build a brand new home and thus only pay Stamp Duty on the land value. In the ACT, the Stamp Duty is deductible as it is against a lease of land. Queensland stamp duty is rising steeply, to bring it above other states.

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Potential new rail lines effect home values

There is much media publicity re a potential rail line from Huntingdale to Rowville. This was first planned in 1969. It would service Monash University, a major student hub, Monash technology precint, including the Monash medical centre: Waverley Park, Scoresby and Rowville. The likely cost is reasonable, it just needs a bit of political will. The projected train travellers passenger numbers are terrific. I prefer a light rail tram all the way out to Ferntree Gully, to make an outer loop ring tram. This tram could link up the giant Knox shopping centre to the eastern tram which proceeds down Burwood Highway to the city. There have even been ideas of a tram down Dorset road to link Croydon to Ferntree Gully. Given any of these mooted projects require both State and Federal funding, nothing is assured until the studies and work starts. The Victorian government has announced a study into this potential train line. One wont know the outcome for some years. The recent house building and infill development in the Knox, Wantirna, Rowville region appears to justify this new train line.

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Electric cars effect home renovating

Reading today, from The Better Place notes. Better Place’s Alan Finkel says, electric vehicles will have running costs a quarter the price of petrol cars in running costs. Partly, due to the very low servicing and mechanical repairs costs. Better Place, is currently setting up recharge stations in Denmark and Israel. The recharge stations will offer quick change battery packs, in order to facilitate fast charging. Better Place is working in cooperation with the RACV and AGL on these recharge stations. The critical factor for home renovating, is that, one will not be so concerned to buy in the inner suburbs, as affordable electric driving technology is on the way. Canberra, in Australia, is expected to be one of the first countries to have the available recharge stations, after California. The Electric cars will have lease deals available for the batteries, in order to, make them affordable. The latest break throughs in electric battery technology and efficiency are dramatic. The release of the GM volt car must be expected to make lots of publicity: while the Renault car is amongst the most affordable and efficient
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The Home Office for Renovating

Close to 2.4 M Australians have a home office. In the USA, the trend is to more home offices, as people work at two jobs or take work home.

What are the critical features required for an efficient home office?

1  Features like organisation. You will need heaps of storage space for files and paperwork.

2  Great lighting, particularly natural light from a bay window or skylight, gives a sense of peace and space. You will want excellent task lighting, new down lights are great, too. Plenty of bench space and bookcases for your filing.

3  Some filing cabinets and boxes to store stuff away from the work desk.

4  Some artwork and family photos can personalize your work space. An uncluttered work desk will relax the mind and remove confusion and thus procrastination.
5  If you are using a ‘spare” bedroom hiding the bed by using a fold away bed, can remove clutter. Dont let your office become a storage room. Its is critical to make it a usable and welcoming room, yet entirely seperate from the distracting, busy, family living/kitchen areas.

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Where are the future boom suburbs?

You might read heaps about boom regional centres like Darwin, Karratha, Port Hedland, Geraldton, Gladstone, Townsville. These may be boom areas, where massive new capital works are being built, do your own research.

I prefer you research your local area, where you know heaps about the best streets accurate home values, new capital works and transport links. Given I am in Melbourne, I am acutely aware of the massive growth in Melbourne. If, I renovate locally, I build a good accountable team of lawyer,agents, accountant, tradies, save heaps on travelling time, learn heaps from the local council and government. If I am lucky, I might even find an agent, who appreciates the advantage of repeat business. So before you buy in an exotic location, a mining town or regional centre, take time to review the advantages of renovating locally. The major capitals of Melbourne and Sydney have had continuous growth for many years, and with good reason, as they have the best amenities and job prospects. the centre of government has rationalised services to the big capitals, while regional areas have been downgraded
Please consider.

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