The Australian Broking Awards are the benchmark for excellence in mortgage broking.

Since 2011, the awards have celebrated professionalism, best practice and innovation in mortgage broking, and are the most sought-after award for Australia’s brokers, brokerages, aggregators and mortgage industry leaders.

Go Mortgage is excited to announce that we took home the title of ‘Regional Office of the Year’ at the 2018 Australian Broking Awards.

This award recognises the office that has delivered the best productivity and customer service . It is open to all offices that operate in a regional location. This category assesses the business benefits associated with effective customer service, taking into account the uplift in new, repeat and referred business.

Our commitment is always to our customers and their experience with us. Our goal is simple and that is to be your finance partner for life so to receive this recognition for our efforts, is an achievement we are very proud off. We look forward to what else Go Mortgage will accomplish in 2018 and appreciate your ongoing support!

Banks are clamping down on borrowers from every angle, with ‘living expenses’ one of the latest factors to draw attention.

So how can you maximise your borrowing power, when every little expense is under the spotlight?

Ten years ago, getting a Home or Investment Loan was far easier than it is today.

We’ve gone from one extreme to the other, with banks who were previously happy to hand over 100% loans in the past, now fastidiously checking every minor detail before signing an approval.

The MFAA Excellence Awards are the most rigorous in the Australian mortgage and finance industry, and are judged by an independent panel of business professionals and experts.

The Mortgage & Finance Association of Australia (MFAA) has announced Go Mortgage as a finalist in the QLD ‘Best Customer Service Award’ and Xavier Quenon in the ‘Best Regional Broker Award’ categories at the annual MFAA Excellence Awards.

“We are honoured to have been recognised by our industry peers and to have been selected from all the entrants across the state and named as a finalist for these Award,” said Xavier Quenon, Director of Go Mortgage.

This last year has been full of industry change and increasing challenges for the finance broking market, but Go Mortgage has been delivering better consumer outcomes than ever before due to their commitment to customers and expertise in the finance industry.

“At Go Mortgage we deliver 5 Star service. We have a strong focus on delivering positive finanical outcomes for our clients now and all the way to their retirement. We look after First Home buyers, Refinancers, Business owners & property investors as they meander through the cycle of financial life. We offer them constant guidance, education and reviews of their financial position. It is this approach which we believe has enabled us to grow and prosper during a time of constant change & scrutiny” said Mr Quenon.

“The MFAA has acknowledged Go Mortgage as a state finalist out of more than 650 total national awards submissions, which have been judged and rewarded for consistently demonstrating their professionalism, integrity, ethical conduct and innovation,” the MFAA stated.

“To be recognised as a finalist speaks volumes of their exceptional practice and professionalism in the mortgage and finance industry,” the MFAA added.

All finalists, including Go Mortgage, have an opportunity to be recognised as their state’s winner. State winners will then have the opportunity to win the prestigious national title at the national awards ceremony, which will be held on 26 July in Melbourne.

The Mortgage & Finance Association of Australia (MFAA) is the peak national body representing finance brokers, mortgage managers, lenders, aggregator/broking groups and other industry participants, to assist them to develop, foster, and promote the mortgage and finance industry in Australia.

We are very proud to announce that Go Mortgage is the 2018 WINNER for the BEST REGIONAL OFFICE at the ‘The Adviser Better Business Awards’

The Better Business Awards is the mortgage and finance industry’s leading program for state-based performance. It acknowledges the brokers who are leading the charge & providing service excellence.

This tremendous recognition confirms and support our dedication to helping all Australians achieve the financial future they deserve.

Thanks to all our clients who have trusted us as the Best Mortgage Broker for

– their First Home

– their Mortgage

– their Property Investments

We are stoked to see Go Mortgage continuously winning Awards in the finance industry & making happy clients.

Let’s Build your Future.. Let’s Go!

#5StarService #Excellence #MortgageBroker
#AwardWinner #MortgageBrokerGoldCoast #Regional
#Stoked #StayAhead

Does a swimming pool give a home a competitive edge in Australia’s housing market?

An online survey asked more than 1,000 Aussies if they would pay more for a house with a pool.

The most popular response?

Surprisingly 40% said No. However the second most popular reply was to pay $10,000 more for a house with a pool (15.7%), followed by $20,000 (10.8%)… Especially amongst those living in states and territories with a warmer climate who valued homes with a pool more.

Nearly one in seven said they’d pay $50,000 or more – which would approximately reimburse the cost of the pool and its installation.

Overall, men placed more value on a swimming pool than women.

Not surprisingly, younger respondents were more likely to pay extra for a house with a pool.

VERDICT = In some circumstances, [installing a pool] could add value to the right buyer but it’s highly recommended to research the local market and do your sums properly.

So if adding a pool to your home is on the cards for you we’d be happy to help you figure out the best way to fund it – do you need to refinance? a renovation loan? a top up? or just use cash.

Contact us & we’ll help you determine the best & cheapest way to see you bathing in style in your own backyard

Self-managed super funds – SMSF – have become a popular way for Australians to build their retirement savings.

In fact they’re now the fastest growing segment of the superannuation market, with over one million of us now counted as members of an SMSF.

Those members collectively hold more than 1/2 billion dollars in superannuation assets, approximately 16% of which is invested in direct commercial and residential property.

Property, along with Australian shares (32%) and cash and term deposits (28%), make up the bulk of Australian SMSF assets.

Your SMSF can have two kinds of propertyinvestments. These are commercial property, like a factory, a warehouse or even your business premises, and residential property such as investment units and houses.

As with all things superannuation, there are rules around investing in property in your SMSF – For example, the property must meet the ‘sole purpose test’. SMSFs are also prohibited from investing in the family home or holiday home for the personal use of a member.

SMSFs can also borrow or gear their super into property, but it must be done under very strict conditions called a ‘limited recourse borrowing arrangement’ – or most commonly known as a SMSF loan.

Of course, you should assess whether the investment is consistent with the investment strategy and risk profile of your SMSF before committing to a geared property investment; and don’t forget to consult with your Accountant or Financial Advisor

If you are ready to buy, we are ready to help. We are equipped with the knowledge and expertise to help you get the most out of your SMSF Loan. We can show you how to best set up and obtain your SMSF loan to reflect your financial needs and get the most out fo your super borrowings.

Contact us or call our office today on 1300 855 244.

Property renovation shows and social media success stories have made house flipping look like a fast path to profit. Buy a property, renovate it, live in it briefly, then sell at a higher price. Sounds great, right? Not quite.

In Australia, property flipping tax rules are far stricter than many people realise. The Australian Taxation Office (ATO) has made it clear that profits from flipping a property are often taxable, even if you live in the home while renovating it.

If you’re thinking about buying, renovating, and selling property for profit, understanding the ATO property flipping rules is essential. Here’s how the tax system treats property flipping, what the ATO looks for, and how to avoid an unexpected tax bill.

Key Takeaways:

• Property flipping profits are usually taxable under Australian tax law.
• The main residence exemption property flipping rules do not apply if the property was bought with the intention of making a profit.
• The ATO examines patterns of behaviour and evidence of intent when assessing flipping activities.
• Profits from flipping may be treated as ordinary income rather than capital gains, which changes how tax is calculated.
• Getting professional advice before renovating and selling can help avoid costly mistakes.

What is Property Flipping?

Property flipping generally refers to buying a property, renovating it, and selling it quickly for a profit. The strategy typically involves:

• Buying a property below market value
• Renovating or improving the property
• Selling the property shortly afterwards
• Pocketing the difference as profit

The approach can be profitable, especially in rising property markets. But it also raises an important question: how does the tax office treat the profits?

Under property flipping tax Australia regulations, the ATO may treat flipping profits as income from a profit-making activity, rather than a standard property investment gain.

This distinction is critical because it determines how much tax you pay and whether certain exemptions apply.

Why the ATO is Paying Close Attention to Property Flipping

The ATO has increased its scrutiny of property transactions in recent years. With access to property sales data, loan records, and financial reporting, it can identify patterns that suggest flipping activity.

The main reason the ATO focuses on property flipping is simple: many people assume the profit is tax-free, when it often isn’t.

The most common misunderstanding involves the main residence exemption property flipping rules.

Many Australians believe that if they live in a property while renovating it, any profit from selling it will be exempt from tax. However, the exemption only applies when the property is genuinely used as a long-term home.

If the primary intention is to renovate and sell for profit, the exemption usually does not apply.

The Main Residence Exemption and Property Flipping

The main residence exemption normally protects your family home from capital gains tax (CGT) when you sell it. However, the exemption only applies when:

• The property is genuinely your primary residence
• It was not purchased primarily for profit
• There is evidence supporting long-term ownership

If you buy a property specifically to renovate and sell quickly, the ATO may argue that the property was purchased as part of a profit-making scheme.

In that case, the main residence exemption property flipping rule will not apply, even if you lived in the property during renovations.

This is where many investors get caught out. If you’re planning renovations with the goal of increasing resale value, it’s worth understanding the tax traps for property owners and investors before you begin.

ATO Property Flipping Rules: How They Determine Your Intention

The ATO property flipping rules aren’t a single law that bans flipping property. Instead, the ATO assesses why you bought the property and how you behave as an investor to determine how the profit should be taxed.

Some examples that may attract attention include:

1. A Pattern of Renovating and Selling

If you repeatedly buy properties, renovate them, and sell them within short timeframes, the ATO may consider this a business activity rather than an investment strategy.

Frequent transactions suggest that profit generation was the primary intention.

2. Your Source of Income

If a significant portion of your income comes from renovating and selling properties, the ATO may treat this as a property development or trading business.

In this scenario, profits may be taxed as ordinary income rather than capital gains.

3. Mortgage or Loan Documentation

Your loan application can also reveal your intentions.

For example, if documentation indicates that the property will be renovated and sold quickly, the ATO may use that as evidence that the purchase was intended for flipping.

This is why it’s important to structure financing correctly when borrowing money for renovations.

4. Public Statements or Marketing

Believe it or not, public statements can also count as evidence.

For example, people appearing on renovation television shows or documenting their flipping strategy online may unintentionally provide proof that the property was purchased with the intention of resale profit.

How Property Flipping Is Taxed in Australia

When the ATO determines that a property has been flipped for profit, the tax treatment typically changes.

Instead of being treated as a capital gain, the profit may be classified as ordinary income. This has two key consequences:

1. No main residence exemption
2. No 50% CGT discount for assets held longer than 12 months

This means the entire profit may be taxed at your marginal income tax rate.

This is why understanding house flipping capital gains tax rules is essential before undertaking a renovation strategy.

If you’re planning to renovate and hold the property as an investment instead, reading a beginner’s guide to property investing can help clarify how different tax rules apply.

The Tax Implications of Renovating and Selling

The renovate and sell tax implications depend largely on your intention and the scale of the activity.

There are generally three possible tax treatments:

Capital Gains Tax (CGT)

If the property was bought as a genuine investment or long-term home and later sold, the profit is usually treated as a capital gain. You may qualify for:

• The 50% CGT discount if held longer than 12 months
• The main residence exemption if it was your home

Profit-Making Scheme

If the property was purchased with the intention of resale profit, the ATO may treat the gain as ordinary income. This is common with property flipping.

Property Development Business

If you regularly renovate and sell properties, the activity may be treated as a business, with profits taxed accordingly.

Financing Renovations and Property Flips

Another important factor when flipping property is how the project is financed.

Renovations can be funded through several options, including:

• Property investment loans
• Equity release for renovations
• Personal savings or construction loans

The financing structure can influence both your borrowing capacity and your long-term investment strategy.

Working with a mortgage broker can help ensure the loan structure aligns with your property goals.

Should You Avoid Property Flipping?

Property flipping isn’t illegal, and many Australians successfully profit from renovating and selling property.

However, the key is understanding the tax implications before you begin. If your goal is long-term wealth creation rather than quick profit, holding property as an investment may offer more stable tax outcomes and potential capital growth.

This is why many investors start with a strategic plan and appropriate financing rather than jumping into renovations without guidance.

Speak to an Expert Before You Renovate and Sell

If you’re planning to buy, renovate, and sell property, it’s important to understand the ATO property flipping rules before committing to the project.

Tax treatment can vary depending on your intention, ownership period, and the way the property is financed.

At Go Mortgage, we help clients structure loans for property purchases, renovations, and investment strategies. Whether you’re exploring property investment loans, accessing equity release for renovations, or planning your next property move, our team can help you understand your options.

Speak to the Go Mortgage team today for guidance on structuring your next property purchase the right way.

Whether you’re hoping to buy a home this year or are tired of wondering where your pay packet goes, budget planning can help you out.

With these handy steps you’ll be able to work out where your money is going and save some extra dollars for a rainy day.

1. Keep track
The best way to work out where you’re spending your money is to keep a record of where it’s going. Collect all your receipts for at least a week and keep track of them using an app like the MoneySmart TrackMySPEND. You’ll be more conscious of what you’re buying and you’ll see exactly where your money goes.

2. Categorise your payments
Once you have a record of everything you buy, put the different types of purchases into categories so you can see where you spend the most. For example, household expenses like electricity and gas will go in one column, while groceries will be in another. A budget planner calculator is a great tool to help you categorise your expenses – You can use Go Mortgage’s calculator or even MoneySmart’s as well.

3. Set a goal
With all your expenses in different categories, add your income so you can see where you spend your money and how much is left over at the end of each pay period. Now set yourself a goal, such as saving for a holiday, a deposit for your first home, or paying off some of your existing home loan. Work out how much money you’d like to save for your goal in a year and then divide by 12 to determine what you need to save each month. If your current savings covers it then you’re on track. If not, you’ll need to look at your categories and work out where you can spend less. Perhaps you can pack lunch each day rather than buying it – how much would that save? Now adjust your budget for this change and see what a difference it makes.

4. Automate your budget
Once you’ve set your budget, put in place ways to help you manage it. For example, if you always forget to pay your credit card bill and end up paying interest, consider whether to set up a direct debit to make your credit card payments on time. You may also consider setting up automatic regular withdrawals to a separate savings account.

5. Track your progress
Your budget should be a living document, so make sure you check it each month to see if you’re on track. If you’re having trouble sticking to the plan then take another look at where each cent goes and see where you can shave off some expenses.

By following these tips, you can really take control of your money and get closer to achieving your goals.