3D Virtual Tours, Marketing
Ming Osborne
Virtual Tours leave an impression on Property ...

3D Virtual Tours are fast becoming a staple of marketing a property. Aside from complimenting a new climate of ‘social distancing’, providing a contactless, interactive experience of a property over photos alone is the natural progression in a world where marketing has become so centered on having an impressive online presence.

A study by REA in April 2020 noted that 61% of viewers feel that properties with digital inspections make a listing feel more ‘premium’, and 62% felt more positively about the listing agent.

Virtual Tours leave an impression on Property Managers and Tenants
Ming Osborne
Virtual Display Villages

Asset Reports has been proud to work with home builders to bring their entire suite of display homes to life. Even amid the ease of restrictions, the Virtual Tours continue to be a valuable tool allowing viewers to get a sense of the size, scale and layout of the designs on offer in preparation for taking advantage of the new government incentives for building new properties.

Virtual Display Villages
Ming Osborne
Tax Depreciation in a Brand New Apartment

In the lead up to tax time, we wanted to shed some light on what exactly Depreciation is and how it can save investors thousands in tax deductions. We prepared this interactive model to show exactly what can be depreciated in an investment property.

As an investment property ages the value of the materials used to build it decrease in value, this loss in value can be claimed as a deduction at tax time. Blue labelled items come under Capital Works (Division 43), or construction of the property, which are depreciable over 40 years.

Tax Depreciation in a Brand New Apartment
Marketing, 3D Virtual Tours
Ming Osborne
Virtual tours help agents get buyers through ...

A high-resolution, 360-degree virtual tour could be one of the key ways agents look to show potential buyers a property, following the ban on public open homes and auctions from midnight, Wednesday March 25.

Camera services and agents have reported a spike in inquiries for virtual tours of property listings in the past week to fill the void left by government-mandated social distancing measures.

Asset Reports partner Tom Williams said high-quality, 360-degree views of listed properties were an invaluable tool for vendors and buyers alike.

“It’s helping [agents] get the listing and helping them engage the right buyer,” Mr Williams said.

“I’ve seen easily a 50 to 60 per cent increase in more business than the week prior. We’ve doubled our bookings.

Virtual tours help agents get buyers through properties as auctions, open homes banned
Events
Ming Osborne
Asset Reports & CoreLogic | 2020 Vision

On 24th October Asset Reports and CoreLogic hosted 2020 Vision - an informative evening that asked 'What will future Property Buyers think when they look back at this point in time as a buying opportunity?'

We heard from Damian Collins (Momentum Wealth) about the benefits of collaborating with buyers agents for properties in key areas, while Tim Lawless (CoreLogic) provided an insight into the Perth property market and a forecast of the economic and population growth for WA.

Asset Reports & CoreLogic | 2020 Vision

Tax Depreciation

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REIWA Connect 2019

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REIWA Connect 2019

We’d like to thank REIWA for hosting another great conference this year, and we were excited and honoured that our Director John Williams was invited to speak to the Commercial members.

The attendees were awarded CPD points for John’s presentation which was titled: “Strengthening Commercial Lease Agreements with Property Inspection Reports”. The objective from DMIRS was to demonstrate how Property Inspection Reports will:

• Increase levels of Consumer Protection
• Increase Public Confidence in the Property industry
• Raise Industry Standards

7 Tax Time Tips for Investment Properties

7 Tax Time Tips for Investment Properties

EOFY might be over but tax time is still in full swing!

Here are some tax tips for Rental Properties provided by The Tax Institute:

  1. Keep all your receipts to justify the deductions that are being claimed. An absence of such receipts will make life very difficult if an audit calls for proof of the expense. 

  2. The property must either be rented, or “genuinely available" for rental in the income year for which a deduction is claimed. If you use the property for private purposes, you cannot claim expenses. 

Tax Depreciation - Doesn't my accountant look after that?

Tax Depreciation - Doesn't my accountant look after that?

It’s a common misconception that Accountants provide Tax Depreciation Schedules for Investment Property owners. Unfortunately this is not true, they may help arrange for a Schedule to be done, but they cannot do it themselves.

Tax Depreciation firms (Quantity Surveyors) work very closely with Accountants and other financial professionals to help investors make the most of the tax benefits associated with owning investment properties. However, Accountants cannot legally produce the Schedule required by the Australian Taxation Office, in particular the construction costs (otherwise known as Div.43 Capital Works).

Changes to Tax Depreciation Laws

Changes to Tax Depreciation Laws

Today the Australian parliament passed the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017.

These changes mean that those who purchased second-hand residential properties after 7:30pm on the 9th of May, 2017 will not be able to claim tax depreciation on the existing Plant and Equipment – for example blinds, carpets, and air conditioning. This is to prevent ‘double-dipping’ by successive owners of the property claiming depreciation on the same pieces of Plant and Equipment. The new owner will still be able to claim depreciation on any new pieces of plant and equipment that they purchase themselves.

WIRE – Women In Real Estate Conference

WIRE – Women In Real Estate Conference

Asset Reports is a proud partner of REINSW for this year's Women In Real Estate Conference. 2017 marks WIRE's eleventh year, and once again it is set to host an amazing list of encouraging speakers that are leaders in the property industry.

This year's conference will be supporting the McGrath Foundation, which aims to make life easier for individuals and families effected by breast cancer.

This will be a great opportunity to network with peers in the industry, and get inspired to grow your business!

Budget Update

Budget Update

The proposed changes announced last week in the Federal Budget effecting Negative Gearing are designed to restrict the tax deductions available when an investor buys an established residential property. Anyone who buys an established property for investment purposes after 7.30pm on the 9th of May 2017 will no longer be able to claim depreciation on the Plant & Equipment – Division 40 (fixtures & fittings) that comes with the property, including in strata common areas. It is designed to prevent ‘double-dipping’ by all successive owners of the property claiming depreciation on the same pieces of plant & equipment.

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