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The Australian 2017 Federal
Budget has tightened the foreign resident capital gains tax withholding regime.
Other changes include limiting foreign ownership in specified developments,
charges for property left vacant and changes to the capital gains tax rules for
foreign investors. The capital gains rule changes broadly mean that where a foreign resident disposes of
certain taxable Australian property, the purchaser is required to withhold an
amount from the purchase price and pay that amount to the Australian Taxation
Members who use the services of businesses offering loan processing administration or facilities outside Australia need to take reasonable steps to ensure that the activities of these businesses comply with the Australian Privacy Principles as required by the Privacy Act 1988 (Cth). Members should also ensure that their Privacy Consent includes relevant information regarding offshore processing if these services are utilised. For more information, see here.
If you're not already offering reverse mortgages or equity release to your customers, you could be missing out on a prime opportunity for repeat business. More often than not, your client will be open to the idea of further investment through reverse mortgage.
MFAA members receive 7% off the best available rate of the day at Hilton's Australasian hotels. All bookings include internet access. Click here for more information. Explore more member benefit options by contacting the team Member Benefits email or phone 1300 663 902.
Sydney, 14 June 2017 Representatives from the mortgage industry have begun a process toensure that incentives and governance arrangements are aligned with good outcomes for customers, in response to ASIC’s report on mortgage broker remuneration.
Responsible Lending Part 1: The intricacies that most brokers don’t get – and need to know - Registrations will open soon
MFAA National Excellence Awards - Registrations for this event will open soon.
Responsible Lending Part 2: What HAS changed since 2010 that you may not have realised - Registrations will be open soon.