ATcaT Financial



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143B Como Pde E, Parkdale Vic

Tel +61 3 95881184

Royal Banking Commission Findings summarised below

Now let us get back to Business

Key recommendations:

  • Commissions should be largely eliminated from the financial sector, including mortgage broking, financial planning and insurance sales
  • Mortgage brokers should meet similar requirements to financial planners to put their clients' best interests first
  • Car dealers and others selling financial products at the point of sale of goods should be subject to responsible lending obligations
  • Financial planners should seek their clients' agreement every year if they are charging ongoing fees for advice
  • Farmers should have access to a national farm-debt-mediation scheme and the appointment of receivers should be a last resort
  • A last-resort compensation scheme, funded by industry, will ensure consumers who suffer bank wrongdoing receive compensation
  • Several institutions may face criminal charges, while many others have been referred to ASIC for further investigation

Our take on proposed Labour Tax Changes


r Capital gains tax 

 Currently, individual, trust and Superannuation Investors  are entitled to a 50% discount on the capital gain amount providing they have held the asset for more than one year. Labor proposes to halve that capital gains discount  for all assets purchased after a date sometime following the next election, if held over a year, to 25%. The exceptions (for which the current rules will remain as is) are: • Investments bought before this date • Investments made by superannuation funds • Investments/Assets of small business owners. 

We think :

 So, anyone holding an investment property will be less motivated to sell as their capital would be diluted,  thus creating less properties for sale.  Effect :  Upward pressure on Prices.

Negative gearing 

Negative gearing is where investment-related expenses are greater than Income ( Rent) and the loss is claimed / offset  as a tax deduction against other income, resulting in the investor paying less tax / receiving tax refund. Labor proposes to limit negative gearing to ‘new’ housing.    Losses from new investments in shares and existing properties will still be able to offset other  income. These losses can also continue to be carried forward to offset the final capital gain on the investment. 

We think 

So anyone with geared investment property now would be less likely be motivated to sell. Anyone building investment property less likely to sell. Potential buyers for geared Investment properties less likely to buy. Effect :   slightly less demand from geared investors,  significantly less supply of property for sale .  Upward pressure on Prices.     Therefore the purpose of social engineering would actually go the other way and Property, especially in Melbourne, Bayside & Inner will be at a premium.o

property moving forward

property moving forward

About Us

Our clients have grown with us being  part of the Atcat Family for many years and  over multiple generations having their accounting and financial needs catered for in the best possible way through the use of the latest technology, knowledge and personal service..  

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Atcat Financial

143B Como Pde East, Parkdale, VIC 3195, AU

Tel +61 3 95881184