Preparing For Sale - Keeping It Neutral
A full renovation of your home before putting it up for sale might not always be the best idea. Maybe all that’s needed is a little clever decorating to get that potential buyer over the line. The big question to ask is will a renovation add extra value? Or will you spend too much money renewing the kitchen and bathrooms which you can never hope to recover. Admittedly, it might make the property more attractive and guarantee a quicker sale, however, you need to be very clear in your mind just why you’re renovating prior to sale. One of the biggest mistakes sellers make is to prepare their house for sale in the style they’d like to live in, rather than putting themselves in the shoes of potential purchasers and providing them with a canvas which they can personalise and make their own quickly and inexpensively after moving in. So what do we mean by keeping it neutral? Basically, keep the permanent finishes, such as walls, tiles, joinery and bench tops in a neutral colour range and leave it to the accessories, such as cushions and throws to add that flair and splash of colour. The classic neutrals, often overlooked as being uninspired, are in fact the foundations upon which to build a long lasting scheme. A potential buyer will be able to see at once that everything is in good order but they will be able to make it “theirs” instantly with very little expense. The addition of texture, well designed furnishings and a splash of interesting colour provides all that is required for a stunning decorating scheme. Be careful with warm neutrals as they will advance and will therefore create an illusion of a smaller, warmer space and should therefore be used carefully in very small or dark areas. Of course, if you are looking to achieve a rich cosy environment then darker, warmer tones are perfect to use.
The base neutrals of kohl, ivory, parchment and stone are a classic combination which on its own is very pleasing due to the various strong tonal variations. The neutrals can be cool or warmed up with the addition of taupe and caramel. The expensive task of redecorating a space prior to a sale can be avoided by using the classic neutral base and simply varying the accent of colour. Source: Samantha Bacon Colours. |
2013 The Year Ahead For BusinessesWritten on the 10th of February 2013 No age limit for super contributionsFrom 1 July 2013, the upper age limit for superannuation contributions will be abolished. Employers will be required to contribute to the complying super funds of eligible mature age employees aged 70 and older. Payslip reporting of super paymentsFrom 1 July 2013, employers will need to provide additional information about superannuation contributions on an employee’s payslip. Employers will need to report the amount and expected date of contributions they are making. Living away from homeIf you have employees living away from home, you need to know about the changes to the Living Away From Home Allowance system. The Government tightened the eligibility rules from 1 October 2012 for all new agreements entered into from 8 May 2012. Transitional rules can apply to arrangements entered into prior to 8 May 2012 but the full set of new rules will apply from 1 July 2014 or when the arrangement is modified (whichever comes first). Basically, the new rules limit the concession to 12 months in a particular work location (except for fly in fly out employees), require temporary residents and non-residents to maintain a home in Australia, and receipts to be kept for all expenses. In-house fringe benefit changesThe concessional fringe benefit tax treatment of in-house fringe benefits provided by employers under salary sacrifice arrangements was abolished from 22 October 2012 (transitional rules apply until 1 April 2014 for existing agreements). This change will particularly affect retailers providing discounted goods such as clothing, and organisations such as private schools that provide discounted education for children of employees. Previously, in-house property and residual benefits were eligible for a 25% reduction in the taxable value. While this change occurred in 2012, we are likely to see the full effect in 2013 and beyond. Building and construction industry reporting
A new reporting regime came into effect on 1 July 2012 requiring businesses in the building and construction industry to report payments to contractors. The first of these reports is due on 21 July 2013. Businesses affected by the reporting regime need to report the contractor’s ABN, name, address, gross amount paid for the financial year, and total GST included in the gross amount. |
2013 The Year Ahead For BusinessesWritten on the 10th of February 2013 No age limit for super contributionsFrom 1 July 2013, the upper age limit for superannuation contributions will be abolished. Employers will be required to contribute to the complying super funds of eligible mature age employees aged 70 and older. Payslip reporting of super paymentsFrom 1 July 2013, employers will need to provide additional information about superannuation contributions on an employee’s payslip. Employers will need to report the amount and expected date of contributions they are making. Living away from homeIf you have employees living away from home, you need to know about the changes to the Living Away From Home Allowance system. The Government tightened the eligibility rules from 1 October 2012 for all new agreements entered into from 8 May 2012. Transitional rules can apply to arrangements entered into prior to 8 May 2012 but the full set of new rules will apply from 1 July 2014 or when the arrangement is modified (whichever comes first). Basically, the new rules limit the concession to 12 months in a particular work location (except for fly in fly out employees), require temporary residents and non-residents to maintain a home in Australia, and receipts to be kept for all expenses. In-house fringe benefit changesThe concessional fringe benefit tax treatment of in-house fringe benefits provided by employers under salary sacrifice arrangements was abolished from 22 October 2012 (transitional rules apply until 1 April 2014 for existing agreements). This change will particularly affect retailers providing discounted goods such as clothing, and organisations such as private schools that provide discounted education for children of employees. Previously, in-house property and residual benefits were eligible for a 25% reduction in the taxable value. While this change occurred in 2012, we are likely to see the full effect in 2013 and beyond. Building and construction industry reporting
A new reporting regime came into effect on 1 July 2012 requiring businesses in the building and construction industry to report payments to contractors. The first of these reports is due on 21 July 2013. Businesses affected by the reporting regime need to report the contractor’s ABN, name, address, gross amount paid for the financial year, and total GST included in the gross amount. |