Real Estate THURSDAY, JULY 1, 2020 FROM COAST TO
COUNTRY
WWW.TWEEDVALLEYWEEKLY.NET.AU
Plans for stamp duty to be phased out
ONE OF the biggest barriers to buying a home could soon be lifted, after NSW Treasurer Dominic Perrottet announced plans to phase out stamp duty in his 2020 Budget. The changes would see homeowners having the option of either paying stamp duty or paying an annual property tax that is based on the value of their land. The property tax would consist of a fixed amount, plus a rate applied to the unimproved land value, and once a property is subject to the property tax, subsequent owners must pay the tax. If stamp duty has been paid on a property, then the property tax will not apply. Based on a propery worth $600,000, buyers could save $22,335 in upfront costs, while a propery worth $800,000 would have a saving of $31,335. According to NSW Treasury, the average owner-occupier could expect to pay a property tax of $1,812 per year, based on the NSW average unimproved land value of $437,500 Under the plan, owneroccupiers would pay a lower rate than property investors and protections would be in place to
prevent costs being passed on to tenants. First-home buyers who are eligible for stamp duty concessions could instead receive a grant up to $25,000 to put towards paying the tax or their home. Treasury is proposing price thresholds to restrict the number of properties that could opt-in to the property tax. “The price thresholds could be set to immediately allow over 80 per cent of residential properties and over 95 per cent of commercial properties to opt-in to the property tax on transaction,”NSW Treasury said. Mr Perrottet said stamp duty is a “relic from a bygone era when you picked one career, started a family, bought a home and basically settled in for life”. “It adds tens of thousands of dollars to the cost of the biggest financial commitment most people ever make,” he said. “If you want to move, change jobs, or switch careers, upsize or downsize to match your family size, stamp duty can be the spanner in the works. “It is holding our economy back at a time we need to be going full throttle.”
Open homes *All open homes are listed in NSW time
Saturday, November 21 DJ Stringer
2021 Tweed Ultima, Tweed Heads - 9am- 9:30am 2135 Tweed Ultima 14-22 Stuart St, Tweed Heads - 9:30am-10am 2122 Tweed Ultima 14-22 Stuart St, Tweed Heads - 10am-10:30am 2/75 Jacaranda Avenue, Tweed Heads West - 10am-10.30am 14 Marie Street, Tweed Heads South - 11am-11:30am 1/42-44 Thomson Street, Tweed Heads - 11am-11:30am 1 Hill Street, Tweed Heads - 11am-11:30am 10/234 Pacific Parade, Bilinga - 12pm-12.30pm
119 River St, Murwillumbah
A 2019 submission to the NSW Productivity Commission by the Grattan Institute said “stamp duties are among the most inefficient and inequitable taxes available to the states and territories”. “In contrast, property taxes – which are levied on the value of property holdings – are the most efficient taxes available to the states and territories,” the submission reads. “If they are designed well and applied broadly, they do little to change people’s incentives to work, save, and invest.” The Real Estate Institute of NSW (REINSW) has welcomed the plan. REINSW CEO Tim McKibbin said stamp duty reform has been long overdue, and something the REINSW has actively sought for many years. “Stamp duty is an inefficient, inequitable tax that distorts market activity,” he said. “Not only does it discourage people from moving, especially downsizers who would otherwise free up housing stock, it also limits the additional expenditure home buyers could otherwise engage in. “While there is no such thing as a good tax, some are better
Buying a home could get a whole lot easier with plans to scrap stamp duty
than others. When tax becomes a consideration of a transaction and not a consequence, it’s a very bad tax.” Mr McKibbin said stamp duty has limited buyers from purchasing property. “People in NSW have elected not to pay stamp duty by not buying property,”he said. “On this basis, we welcome the news that stamp duty will finally be phased out in NSW. “However, we don’t support the replacement of one property tax with another property tax. “The question should be asked, why the property industry, which contributes so significantly to the state’s economy, must shoulder a disproportionate amount of the state’s tax burden.
3/182 Kennedy Drive, Tweed Heads West - 12pm-12:30pm 11/30 Lanham Street, Coolangatta - 1pm-1:30pm 3/61 Charles Street, Tweed Heads - 1pm-1:30pm 4/27-29 Dutton Street, Coolangatta - 2pm-2:30pm 2 Nairana Court, Bilambil Heights (by appointment)
Ray White Rural
439 Tweed Valley Way, Murwillumbah - 10am-10.30am
Tweed Coolangatta Real Estate
41 Tralee Drive, Banora Point - 11am-11.30am 76/1 Carramar Drive, Tweed Heads West - 12pm-12.30pm
First National Murwillumbah
8 Myrtle Street Murwillumbah - 10am-10.30am 30 Richards Deviation Dunbible - 10am-10.30am 52 Richards Deviation Dunbible - 11am-11.30am
Thinking of Selling? Turn Curiosity Into Confidence Don’t Guess. Know.
“A land tax may be more broadly-based than stamp duty, but it still only applies to property. Investors in shares, for instance, pay no comparable tax.” Mr McKibbin said the NSW Government collected $1,857,906,662 in stamp duty revenue in the three months to September 30, 2020, which is $235,300,000 more than for the same period last year. The government is consulting the community on the changes. To have your say visit www. haveyoursay.nsw.gov.au/ nsw-property-tax-proposal or submitting a written response to TaxReformTaskforce@treasury. nsw.gov.au by March 15, 2021
91 Clareville Road, Uki - 11.15-11.45am 77 Byangum Road Murwillumbah - 1pm-1.30pm
Raine & Horne Ocean Shores/Brunswick Heads/ Murwillumbah 39 Yamble Drive, Ocean Shores – 9am-10.00am Pinnacle Estate, Ramsay Close, Goonellabah - 9am-10am 8 Trinity Drive, Goonellabah - 10:30-11am 9 Palmer Ave, Ocean Shores - 11am-12pm 13 Yungarup Place, Ocean Shores – 11am-12pm 47 Andrew Ave, Pottsville - 11.30am-12pm 34 Reserve Creek Road, Kielvale - 11.30am-12pm 69 Argyle Street, Mullumbimby - 1pm-1.30pm 23 Scotts Wood Grove, Mullumbimby Creek – 3pm-3.30pm Auction: 39 Yamble Drive, Ocean Shores - 10am (on-site)
10 McPherson Court, Murwillumbah
What is my home worth? Talk to us about your Local market Call our office Today.
Raine Horne
14 Tulipwood Crt, Murwillumbah
(02) 6672 4477
FREECALL 1800 547 848 rh.com.au/murwillumbah
84804
12 Mount Ballow Ave, Murwillumbah
Elders Tweed Valley
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If you’re looking for a trusted partner to manage your property, look for the local experts. Elders Tweed Valley have a team of experienced property management professionals with local knowledge ready to assist you with finding a tenant, lease documentation and ongoing stress free management
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Experience. Elders. Contact The Elders Tweed Valley team on 02 5602 2950 or visit elderstweedvalley.com.au
TWEED HEADS
4
4/3 Boundary Lane
3
2
CONTACT AGENT
TWO PENTHOUSES IN ONE – RAINBOW BAY / DURANBAH Four large bedrooms, three bathrooms, powder and media room Master suite with walk-in robe, large ensuite and balcony Dual living spaces over three floors accessed by lift Ocean views from all six balconies, designed to take in views Full building security with key fob entry and camera intercom Significant rental returns and income
BANORA POINT
JUSTIN SCHMITH 0422 051 505
5
4
13 Laura Street
3 FOR SALE
DUAL LIVING WITH DAZZLING OCEAN AND CITY VIEWS Ocean views, north to Coolangatta all the way to Surfers Paradise Master bedroom with large modern ensuite opens onto pool area Kitchen overlooks extra sunroom which opens to enclosed deck Filled with sea breezes with ducted air-conditioning & ceiling fans Upstairs open plan living with an abundance of natural light Downstairs has two ensuited bedrooms and separate kitchen
TWEED HEADS WEST 2/18 Red Bass Avenue
JUSTIN SCHMITH 0422 051 505
3
1
1
INTEREST AROUND $500,000
RENOVATED DUPLEX IN SEAGULLS ESTATE Two bedrooms plus study or smaller third bedroom, separate toilet Single lock-up garage with rear access and fixed storage Renovated offering a spotless presentation throughout Exclusive enclosed back yard with lush green grass Duplex with no body corporate, simply shared building insurance Air-conditioning and ceiling fans plus gas cooking
TWEED HEADS
JUSTIN SCHMITH 0422 051 505
3
3/39 Beryl Street
1
1
$445,000 - $485,000
LIGHT-FILLED APARTMENT IN THE HEART OF TOWN Three double bedrooms all with built-ins Large lounge room with separate dining area Chic kitchen, dishwasher and large walk-in pantry Bathroom and separate toilet Beautiful timber floors Private, sunny north-facing balcony
BANORA POINT 4 Daintree Close
JUSTIN SCHMITH 0422 051 505
5
2
2
$820,000 - $840,000
DEDICATED TO SELLING – GRANDEUR & STYLE
PHONE: (07) 5607 4156
schmith.com.au
JUSTIN SCHMITH 0422 051 505
COOLANGATTA Shop 10/120 Marine Parade
85076
Five Bedrooms, two bathrooms, master with ensuite, walk-in robe Split across two levels, two living areas and dual living potential Downstairs rumpus, bedroom and toilet Generous open plan kitchen, living and dining In-ground pool with massive undercover entertaining patio deck Spotted gum flooring throughout
Raine Horne
Ocean Shores / Brunswick Heads / Murwillumbah
Auction Price Guide
$1.3 - $1.4 Mil
Gardener’s Delight, Big Block with Views, 5 minutes to Town
4
34 Reserve Creek Road, Kievale
2
4
Set amongst a peaceful, village-like atmosphere, just 5 minutes’ drive from the heart of Murwillumbah, this well-presented, private family home with picturesque views to Mt Warning and the pristine Tweed caldera hinterland is sure to please.
Tradies and handymen will love the huge garage with workshop area plus loads of storage and guest accommodation downstairs. The property would be ideal for families, keen gardeners and/or a home-based business owner.
Nestled amongst established trees to enhance the privacy, this welcoming home is surrounded by ornamental and vegetable gardens brimming with produce to feed your family and friends – and will delight gardening enthusiasts.
• Gourmet timber kitchen with feature leadlight window, 900mm gas stove & dishwasher • Open plan dining & family living area adjacent to kitchen, separate spacious lounge room • Large, timber-framed French doors opening onto the wide timber deck • Hardwood timber floors plus new carpet in bedrooms
Price Auction On-Site Saturday 5 December, 12pm View Saturday 11.30am – 12.00pm Agents Jason Di mar 0477 222 452 Elizabeth Hickey 0409 812 229
• Huge 1378sqm block, Council park opposite, town water
Price Guide
Contact Agent
5
2
3
We proudly present “Alistabrooke Park”, an exceptional lifestyle acreage property comprising 26 acres of land with premium, custom-built equestrian facilities, an impeccable, spacious Federation-style residence plus a separate caretaker’s co age, all located just 3 minutes’ drive from Murwillumbah and just 20 minutes from Gold Coast Airport. This outstanding rural estate has been thoughtfully created and immaculately maintained. The property offers a range of opportunities for families to enjoy an amazing country lifestyle incorporating horses, ca le or other types of small-scale/hobby farming or to use it as a training venue. Price Contact Agent View Private inspection Agent Julie-Anne Manahan 0411 081 118
Luxury Waterfront Lifestyle Home 47 Andrew Avenue, Po sville
3
2
2
Perfectly positioned on an 800sqm block, with a northerly aspect, this beautifully presented, freshly renovated entertainer’s home offers an amazing coastal lifestyle you’ll want to make your own. The property features a multitude of entertaining spaces, including a large open plan tiled family living and dining area, separate lounge room with polished floorboards, Balinese-inspired covered alfresco dining area and two covered decks adjacent to the sparkling oasis-style pool. All this is just a stone’s throw to the pristine Po sville creek or beach. • Three bedrooms, complete with built-in robes, office/study • Huge master bedroom with ensuite and walk-in robe • Spacious open plan living and dining area + separate lounge room • Bright white kitchen with stainless steel appliances + dishwasher • Feature combustion fireplace, Easy care tiles and new carpet • Three covered outdoor entertaining spaces + a gazebo Price Price Guide $1.2m - $1.3m View Saturday 9.00am - 9.30am Agent Elizabeth Hickey 0428 883 815
Raine Horne Ocean Shores / Brunswick Heads / Murwillumbah
(02) 6672 4477
rh.com.au/murwillumbah
85036
Magnificent Lifestyle/Equestrian Acreage Holding Just 3 Minutes to Town 33 Baromi Road, Kynnumboon
$1.2m - $1.3m
Working for you. Experience, knowledge, professional
85046
85043
Belinda Franks on 0409 152200
St Martha’s Village Retirement Living at 81-83 Leisure Drive, Banora Point
Stylish retirement villa in a peaceful, yet vibrant community Enjoy a comfortable and fully independent lifestyle at St Martha’s Village. With maintenance and gardening taken care of, you have complete peace of mind and are free to meet new people and lead a perfect retirement lifestyle. The village is situated just a short bus ride from Tweed Heads, which houses the popular Tweed Heads Shopping Centre, while the Twin Town Club, Banora Gold Club and other amenities are on your doorstep. This comfortable, well appointed villa comes with ensuite bathroom, separate toilets and private garage. This light-filled 2-bedroom villa is generously sized and features: • • • •
2-bedrooms 1.5 bathrooms Lock-up garage 24-hour emergency call system
• • • •
Maintenance services included Gardening services included Optional home care services Aged care onsite
84850
To arrange a private viewing, call Jodie on 0490 127 900 or visit us at sccliving.org.au
0490 127 900 sccliving.org.au You may have to pay a departure fee when you leave this village.
St Joseph’s Village Retirement Living at 55 Blundell Boulevard, Tweed Heads South
Stylish retirement villa in a peaceful, yet vibrant community Imagine no longer having to devote time to maintaining a family home, mowing lawns or worrying about home practicalities. With all that taken care of, you have complete peace of mind and are free to focus on what really matters. St Jospeh’s offers a tranquil environment, yet has all that Tweed Heads has to offer on its doorstep. With close proximity to restaurants, cafés and shopping, along with convenient transport, life at St Jospeh’s is one of convenience and contentment. This light-filled 2-bedroom villa is generously sized and features: • • • •
2-bedrooms 1.5 bathrooms Lock-up garage 24-hour emergency call system
• • • •
Maintenance services included Gardening services included Optional home care services Aged care onsite
85001
To arrange a private viewing, call Jodie on 0490 127 900 or visit us at sccliving.org.au
0490 127 900 sccliving.org.au
85075
You may have to pay a departure fee when you leave this village.
CASH DRAW LIST YOUR PROPERTY FOR SALE OR FOR RENT
HOW WOULD YOU SPEND THE MONEY? Renovation? Holiday? Rental? Family? Mortgage? Party?
Pottsville Beach 02 6676 1053
Banora Point 07 5523 1111
Tweed City 07 5523 3900
Murwillumbah 02 6672 7828
www.potsville.com.au
www.fnbanora.com.au
www.fntweedcity.com.au
www.fnmurwillumbah.com.au
11/5 Coronation Avenue, Pottsville Beach NSW 2489
4B Banora Shopping Village, Banora Point NSW 2486
1/28 Minjungbal Drive, Tweed Heads South NSW 2486
64 Murwillumbah Street, Murwillumbah NSW 2484
List your property for sale or for rent by 13th December to take part in our $10,000 prize draw. 2 x $5,000 cash prizes to be won. Draw will take place 16th December 2020.
85073
1st SEPT TO 13th DEC 2020 COMPETITION
76/1 Carramar Drive, Tweed Heads West Price: $330,000 Inspect: Saturday 12:00-12:30pm DST
Michael Smith 0413 454 350 michael.smith@tcre.net.au
2
2
1
MOTIVATED SELLER - PRICE REDUCED A home that offers more than meets the eye, split level in design the upper level of the home consis�ng of 2 bedrooms with built-ins, main bathroom with separate toilet & internal access from the double lock-up garage. The lower level comprises main bedroom with ensuite, separate lounge, kitchen and spacious family room with access to the deck.
Price: $660,000 Inspect: Saturday 11:00-11:30am DST
Michael Smith 0413 454 350 michael.smith@tcre.net.au
3
2
2
85029
OVER 55’S VILLAGE There are no entry or exits fees involved with ‘Terranora Village’. This immaculately presented spacious townhouse offers large open plan living area with fan & air con plus �mber look flooring, bedroom with built-in robe, main bathroom & separate laundry. Hugh air-condi�oned master bedroom with ensuite. Spacious rear courtyard provides covered and open entertaining area.
41 Tralee Drive, Banora Point
CO STAG MI E NG 2 SO O
N
LAND FOR SALE ILUKA, NORTH COAST NSW
Call Fiona Beamer 0419 497 447
birriganilukabeach.com.au
85042
ENQUIRE TODAY
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y a t s o t e c a l p e Th
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(07) 5599 2700
www.goldcoastholidayhomes.com.au
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85038
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85039