ABN 75 274 741 060       Telephone 61 2 4369 8811


1. Fail to ask for assistance;

2. Fail to understand the time frames and the work required to maximise sale price;

3. Overestimate the value of your business;

4. Selecting the wrong time to sell;

5. Have disorganised paperwork and financial systems;

6. Fail to take into account the staff that will be left behind; and

7. Fail to create and work to an overall exit strategy.

New South Wales Australia State Taxes 2012

First Home Owner Grant

From 1st October 2012, the First Home Owners Grant will be payable on:-

1. a contract made on or after 1st October 2012 for the purchase of a “new” home in New South Wales; or

2. a home building contract made on or after 1st October 2012 to have a new home built on land in New South Wales; or

3. the building of a new home in New South Wales by an owner builder if building work commences on or after 1st October 2012.

The cap will be $650,000

The amount of the grant will be: -

• $15,000 – with a commencement date between 1st October 2012 and pre 1st January 2014;

• $10,000 – on or after 1st January 2014.

For more information PLEASE CLICK HERE

First Home – New home

The First Home – New home scheme is for first home owners (including vacant land) and began on 1st January 2012. From the 1st July it applies an exemption or concession for stamp duty subject to having a dutiable value of less than: -

• $650,000 for a private dwelling; or

• $450,000 for vacant residential block.

There is no duty up to: -

• $550,000 for a private dwelling; or

• $350,000 for vacant residential block

Thence a concession up to the above limits.

For more information PLEASE CLICK HERE

New Home Grant Scheme

As from 1st July 2012 if assistance is NOT available under the “First Home – New Home Scheme” there is a “New Home Grant Scheme” for the purchase or construction of a new home. The grant of $5,000 and normally paid as a credit against duty on the agreement or land transfer.

This grant is eligible for contracts /agreements made on or after 1st July 2012 for:-

1. A new home purchase;

2. An off the plan purchase; and

3. A vacant land purchase.

The NEW Home Grant Scheme is subject to various conditions and a cap of $650,000 for new homes and $450,000 for vacant residential land. For more details PLEASE CLICK HERE

Regional Relocation Grant

Traffic or pollution getting to you then how about going “bush” using a “Regional Relocation Grant”. The Regional Relocation (Home Buyers Grant) Act 2011 applies a grant of $7000 for the purchase of eligible home and relocating from the metropolitan area to regional areas. Alas if you are thinking about moving to Byron Bay then think again as that council area has “opted” out of the scheme.

For more details PLEASE CLICK HERE

Payroll Tax

New payroll tax rates for 2012-13 are as follows: -

• Wages exceeding $689,000 up from $678,000

• From January 2011 the rate of tax is 5.45 per cent

Careful for those employers who have workers working in other states. If you have workers working in other states then you may have to pay payroll tax in those states as well. You need to research this but boils down to where the worker lives.

There are a number of exemptions and/or rebates applicable, for example: -

• Exemption for paternity leave, adoption and maternity leave;

• Rebates for apprentice wages;

• Job Action plan for “new” jobs provides a payroll tax rebate from 1st July 2011 of $4000 for each new employee; and

• Rebate for disabled employees

For further details PLEASE CLICK HERE

Land Tax

Land tax is levied on owners of land in New South Wales as at midnight on 31st December yearly.

Land includes: -

• Vacant land including vacant rural land;

• Land having a house, residential unit or flat;

• Holiday homes;

• Company title units;

• Residential, commercial or industrial units;

• Commercial properties; and

• Land leased from the State or Local Government.

Who pays: -

• Sole owner;

• Joint owner;

• Companies;

• Trustees of trusts;

• Beneficiary of trusts which is not a special trust;

• Society or organisation whose land is NOT exempt from land tax;

• Unit holders in unit trusts; and

• Trustees of superannuation funds.

Exemptions: -

• Principal place of residence; and

• Land used for primary production.

How it is calculated: -

• Land Tax is calculated on combined value of all taxable land owned;

• The land tax threshold for 2012 is $396,000;

• Land Tax is assessed on the combined value above the $396,00 threshold;and

• The amount of tax is $100 plus 1.6 per cent of the “land value” up to $2,421,000 thence the rate increases to 2.0 per cent.

For further details PLEASE CLICK HERE

Web Marketing Step-by-step videos

Getting to know how to generate sales from the web is important. I use these videos. Why not have a look at them - PLEASE CLICK HERE


Strategic Planning - why not try this book on how! PLEASE CLICK HERE


SWOT Analysis - A quick video on how to do one!

Juparo.com.au website

View Robert Madden's profile on LinkedIn
Follow MaddenRobert on Twitter

Return to top of page