Just to clarify… the Republican front runner is a media-savvy, “self made” billionaire property developer, reality TV star and, the other one is the “still-in-the-game” independent, fist-pumping, self-described democratic socialist.
These are, in the medias opinion, the most likely US Presidential candidates? Seriously?
SMSF fund trustees who use the services of accountants need to ask them what licensing arrangements they will have in place from 1 July. From 1 July the door shuts on the “accountants’ exemption”; the exemption that allows accountants to start and close a fund without a financial services licence. From this point your accountant will need to hold a limited financial services licence to provide services for SMSF trustees outside of the provision of just accounting services.
The debate about removing negative gearing has been reignited as Bill Shorten announced Labor’s decision to put forward changes to this policy at the next election. It’s been long debated that the tax-advantages of negative gearing increases demand and in turn residential property prices, making it more difficult for first home buyers to enter the market. By removing these tax concessions it’s expected demand for residential property investment should reduce and put downward pressure on prices.
But is it really that simple?