The Weekly Times - TWT - 11th July 2018

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16 THE WEEKLY TIMES Wednesday 11 July, 2018 Homemakers Celebrate Hunters Hill’s French heritage HUNTERS Hill residents are invited to celebrate their municipality’s French heritage at the Sydney’s harbourside Bastille Festival. The Festival is being held at several locations in The Rocks from this Friday until Sunday July 15 and will include a Food and Wine Festival, an Arts Festival and a giant street celebration. There will be four food villages and eight wine bars along with 14 live concerts, seven movie screenings and more than 40 street live performances (pictured) from 10am daily and at night. Visiting students from Le Vesinet, France will attend this event as part of Hunters Hill’s Friendship Agreement with Le Vesinet. For details visit the website: http://bastillefestival.com.au Hunters Hill festival funds local community services KEN MORROW SMASH REPAIRS Established 1978 Quality Work Guaranteed All Fleet & Insurance Work Paintless Baking Oven Dent • Auto Repairs Robot Ph: 9807 6487 42 Buffalo Road Gladesville SOLICITORS DIRECTORY WINSTON READFORD NOTARY PUBLIC Ⅰ Ⅰ SOLICITOR Ⅰ Ⅰ CONVEYANCER CONVEYANCING 165 165 Coxs Coxs Road Road (Corner Chauvel Street) (cnr Chauvel Street) NORTH NORTH RYDE RYDE F 9888 3865 9888 3865 T 9887 9887 2888 2888 Level 1/219 Victoria Road EASY GLADESVILLE PARKING above Commonwealth Bank admin@winstonreadford.com.au SEE US FIRST For True Business Exposure, TWT Advertising is the Answer RONALD S. CZINNER & CO. Solicitors & Conveyancers 15/1 Jordan Street Gladesville 9816 2133 All legal & conveyancing matters. YOUR CONTACT FOR • Family Law We can help with • Conveyancing “Wills, probate & deceased estates • Immigration Law & LAWYERS, CONVEYANCERS N O& NOTARY R Y PUBLIC BLIC We can help With Wills, probate & finalising “Know Where You Stand” shop Shop For 6, 43-49 all all legal blaxland Blaxland and road Road all other (corner conveyancing legal of argyle Argyle services matters avenue) Avenue) rYde RYDE nsW NSW 2112 Rear 223 Victoria Rd, www.calabreselaw.com.au GLADESVILLE 2111 Phone: 9817 4698 Phone: (02) 9743 9807 1333 3222 Head Office 154 Elizabeth 22/103 St, SYDNEY Majors email: Email: Bay 2000 Rd, Phone: 9264 3877 peter.howell@ohlegal.com.au Peter.Howell@ohlegal.com.au Concord Phone 9807 6666 Organised Interiors Stylish Exteriors QUALITY BUILT-IN WARDROBES SUCCESS THROUGH INNOVATION • Hinged Or Sliding Doors • Mirror, Timber, Painted Or Lacquer Finish • Wide Range To Choose From • Guaranteed Quality LEICHHARDT SHOWROOM OPEN 7 DAYS CALL US NOW FOR A FREE QUOTE LEICHHARDT 9518 0180 479 Parramatta Road CHATSWOOD 9415 2133 Shop1 71-73 Archer Street KINGS PARK 9622 9777 5 Turbo Road OPEN 7 DAYS SYDNEY Community Services CEO Gill Batt recently received a cheque for $22,000 from Hunters Hill Mayor Mark Bennett and Hunters Hill Food & Wine Festival president Robert Erskine, pictured. The $22,000 was raised during Hunters Hill’s 19th Food and Wine Festival at Boronia Park which attracted 8,000 people. The Hunters Hill SES ($2,500), St John Ambulance ($2,500) and the Men’s Shed ($3000) also received money raised during the Festival. In the last two decades, festivals have raised more than $350,000 to help the community. Sydney Community Services was recently expanded to include Lane Cove and was formerly known as Ryde Hunters Hill Community Services. Ryde takes government to court over development THE City of Ryde has launched legal action in the Land and Environment Court to stop the State Government’s Medium Density Housing Code coming into force next year. The Code was recently deferred for 12 months to allow government and other infrastructure “to catch up” but the legal action has been taken because the council has no confidence that it will catch up by July 1 next year when the code is due to take effect in the City of Ryde. The Mayor of the City of Ryde, Jerome Laxale said the council had no choice but legal action. DUAL TRACKS -SAFE GLIDE- ANTI-JUMP SYSTEM SAFER CLEANER QUIETER www.academicwardrobes.com ACN: 002 815 426 ABN: 73 259 273 933 GOLD LIC. NUMBER: R89001 “Ryde has been targeted by the State Government and we have had enough,” he said on Monday. “In the last four years, 64 per cent of all new dwellings were approved under NSW planning programs. “We have two State Government priority precincts, an enormous new housing target, and State-stacked planning panels that wave through nearly every development application. THE WEEKLY TIMES AUTO DIRECTORY AUTO SERVICES THE GOOD FUEL INN Cnr Cox’s & Badajoz Roads, North Ryde 9888 5198 BRAKE & CLUTCH SERVICES NORTH RYDE BRAKE & CLUTCH SERVICES Cnr Cox’s & Badajoz Roads, North Ryde 9888 5198 “Our residents have had a gutful.” Mayor Laxale blasted the one year deferral as a political stunt. “We were told that the Code needed to be deferred to allow for new infrastructure and it is clear that the deferral is just to get the Government through the next state election.” The City of Ryde is also concerned with the impacts that development under the Code will cause to our SMASH REPAIRS community and environment. It recently resolved to place a moratorium on new planning proposals involving residential uses until the completion of the new citywide housing strategy and the Greater Sydney Commission’s infrastructure plan. “ This is why the City requested the government to be excluded from the provisions of the Code given these unique circumstances.” WEST RYDE SMASH REPAIRS 932 Victoria Road, West Ryde 9808 3033 To advertise please phone Narelle: 9807 6666 FOR INCLUSION RING 9807 6666
Wednesday 11 July, 2018 THE WEEKLY TIMES 17 realeSTaTe When small blocks reap exciting rewards WHERE can you buy land only one set of traffic lights to the City for only $875,000 to $962,000? The answer is when you purchase a small low maintenance subdivided block, says marketing agents Janet Fletcher and Grant Fletcher of Ray White North Ryde/Macquarie Park. Such an opportunity exists at 257-259 Pittwater Road, North Ryde. For sale by private treaty are two 405 square metre blocks of land, each with their own separate titles and Development Application Approved for luxurious freestanding Torrens Title architect design homes. “Clever use of the build footprint provides a tri-level home with 250 square metre internals” says Janet Fletcher. “An internal lift accesses all levels. The homes have been designed for 2020 living and they will be the talk of the town when completed”. With district views and located just five minutes to Hunters Hill, Macquarie University, Business Park and Rail Station, highlights of the homes include two living areas, four double bedrooms - all with built-ins - three bathrooms, two entertaining decks and a north aspect. “We invite buyers to view the site at their own leisure and then visit us at our office at 9 Avon Road North Ryde on Saturdays between 12 noon and 12.40pm (or by appointment) to view plans in detail” says Janet. For further details contact Janet Fletcher 0438 543 547 or Grant Fletcher 0438 816 602. Business Loans: Another dirty little banking secret ONE of banking’s worst kept secrets goes something like: Slap on unnecessary charges and inflate the overall cost if you can get away with it - and anecdotal evidence from iChoice clients suggests banks love this approach with business loans. Here’s something that isn’t a secret to TWT readers - feel free to spread it round: I’m a former banking insider with 20 years of experience and I’ve switched camps to rain on their parade and be a champion for consumers. My mission is to expose as many of banking’s ‘tricks of the trade’ so that hard-working Australians can avoid getting ripped off. This installment of The Barefoot Broker takes a look how you should structure a loan taken out for a business. A loan for business purposes may rely on a residential property, mostly commonly your home, as security and most banks in this scenario will offer a ‘business loan’ – with an establishment fee, monthly fees and a higher interest rate. So if you have a CBA Better Business Loan or a Westpac “Bank Bill Business Loan”, you may have been duped. Most of the banks, but not all, do this kind of swindle and there’s at least one bank that will offer you a home loan product, which will offer a home loan product, which is so much cheaper. I’m happy to tell you which one if you give me a buzz (my number’s below). Banks take advantage of people every day, and without professional representation - provided by iChoice free - you’ll probably fall behind – it’s just the way it is. I’ve held senior commercial lending roles at four major banks, including Westpac and NAB, and set up iChoice as a powerful means of using all that knowledge to help people. Overdrafts are for suckers People in business generally need some kind of a credit facility to manage their working capital requirements. In the 1970s, an overdraft with a higher interest rate and even a “line fee” - an annual donation to the banks to thank them for overcharging you - was the only option, so people The Barefoot Broker put up with it. These days, a separate facility secured by a residential property with a business offset account will give you the same result, at an interest rate which begins with a “3”. This is what I use for cash flow as I won’t tolerate silly fees, either for myself or clients. Let’s say you have a home loan of $600,000 and you needed $200,000 to buy a truck for your business. Getting truck finance with a five year repayment term will be very easy but also very expensive, including the insurance which will be more expensive, with the monthly commitment potentially restricting your borrowing capacity and holding you back. It’s likely the $600,000 loan is serviced with your after-tax dollars - what’s left of your income after paying the tax man. Importantly though, the $200,000 you need is for business purposes and therefore tax deductible. The interest you will pay on this loan can be claimed a tax deduction, which in my experience means you’ll get about a third of it back in your pocket. Rather than paying down your ‘good’ truck debt over five years, it would be better to leave that loan hang around for as long as possible, and direct all your cash to reducing the dreaded $600,000 loan, for which you get no taxbreak. with Jason Khoury So ‘Loan A’ would be your home loan at say 3.7%, with your everyday transactional offset attached to minimise your interest. ‘Loan B’ would be the $200,000 business loan, also at 3.7% which could be interest-only, but these days it’s best to have a 30-year loan term. If you’re in a position to make extra repayments of $20,000 every year to reduce your total debts, it’s wiser to put this specifically towards Loan A. And it’s really important to have the loans split so they’re separately identifiable. Tax Minimisation 101: Keep your good debt high, so you can smash down your bad debt. If you have no useable equity in your home, or you’d like to protect the useable equity in your home for a forthcoming property acquisition, getting ‘vehicle finance’ might be the only option – just make sure you’re well advised. Tweaking the way you do things can make a big difference. My advice and service as a credit advisor to TWT readers is completely free, so feel free to buzz me on 9743 0000 or 0400 900 300. I am here for you. And in late breaking news: If you’re running a business and not up-todate with your tax returns, the Commonwealth Bank just announced it won’t be doing any more low-doc loans from next week on. At least one other bank is still offering them at 3.9% for up to $2.5m. But with the Banking Royal Commission putting banks on the back foot, who knows how long that kind of offer will hang around. And yes - you’ll need to buzz me to find out more. Jason Khoury of iChoice is on a mission to help business owners like Midway Marketplace greengrocer owner Peter Iemma avoid “silly” bank fees and says structure and detail is important with business-related loans. 257-259 Pittwater Road, North Ryde For Sale Guide: $875,000 - $962,000 4 bed / 3 bath / 2 Car 2 blocks – with DA approved Torrens title homes Two Blocks of Land for Sale! Separate Titles, each with DA Approval for Torrens Title Architect Design homes. 2020 Living at its Finest! Internal Lift, Tri-level, internal space 250m2, each block 405m2. Two living areas, large entertaining decks, north aspect, light filled interiors. Freedom to make changes to express your own individuality! View Site at Leisure. Agents available to discuss DA Plans Costings, Basixs etc. at our office at 9 Avon Road, North Ryde Saturdays 12noon – 12.30pm Janet Fletcher 0438 543 547 janet.fletcher@raywhite.com Grant Fletcher 0438 816 602 grant.fletcher@raywhite.com
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The Weekly Times - TWT - 11th July 2018

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