Catherin Sheo in Richmond, Victoria | Property

Catherin Sheo

Locality: Richmond, Victoria

Phone: +61 455 436 122

Address: 285 Lennox Street 3121 Richmond, VIC, Australia

Website: myriadfinancing.com.au/borrow

Likes: 25

Add/Update information

Reviews

Tags

• Property
• Mortgage brokers

25.01.2022 Most often, downsizing can be an option for seniors to consider, other available options are home reversion & Reverse Mortgage". What is home reversion? Under home reversion, the homeowners sell a portion of their home in return for a lump sum payment. But depending on their age, one will receive between 25% and 40% of the value up front depending on their age.... How does this compare with a reverse mortgage? With a reverse mortgage, borrowers continue to own 100% of their home, and benefit from any growth in its value. Borrowers have the flexibility to draw down funds as a lump sum, regular advance or have cash reserve facility for future needs. Borrowers are free to repay the loan, partially or in full, at any time without penalty. It is a credit product and is therefore heavily regulated under NCCP.

25.01.2022 The Australian Taxation Office now strictly regulate over business owners with outstanding tax debt. In addition to regular penalties for late repayments, businesses now risk damaging their credit scores by falling behind on payments, potentially hindering their ability to access finance. While the ATO do offer their own payment plans for businesses looking to settle their debts, these arent always suited to SMEs. Just one late repayment will mean that the full debt is due ...immediately, with further penalties following. If your ability to access finance been comprimised by late tax payment or other minor default payment, yet still need help to organize your business, or looking for flexible loan options with access to funds. Feel free to contact us, we have the process specifically designed to cater for small businesses and allows business owners to take control of their cash flow again

25.01.2022 QBE Australian Property Outlook 2017-2020 Record population growth in Melbourne become the key ingredient for property upturn. According to QBE recent report, Melbourne shows a positive increase in its house market price. The house median price is predicted to outperform Unit Median price. This is mainly due to lower interest rate that encourage strong investor and upgrading activity.

25.01.2022 SMSF - Borrowing and limited recourse borrowing arrangements". "Limited Recourse Borrowing Arrangement" is where an SMSF borrows money to buy an asset. Great news is, if the SMSF defaults on the loan, the lenders rights are limited to recovering only that asset so the other SMSF assets are still protected. Yet, be mindful with such arrangement, as there are penalties & consequences if the Super Law is breached. ... If youve been thinking about borrowing money to buy an asset for your SMSF, the following video link and article from ATO (Australian Taxation Office) might be helpful https://www.ato.gov.au//In-de/SMSF-resources/SMSF-videos/

25.01.2022 Spring time is coming! Time for renovation and give your house that nice refresing look, or perhaps extend the balcony for extra BBQ space to invite friends over for a bear and nice steak! However, pumping extra cash to renovate your house might put some stress on the normal spending routine. A good option is to take advantage of the equity on your house. Over time, from the promising victoria property market, 90% of the property assests have subject to at least 10% 20% capital gain. Take advantage of the low interest rate as well as the feasibility of the current lending market, check out how much you can take out from your current equity. www.myriadfinancing.com.au

24.01.2022 Your time is precious. With 20-30 lenders policy inbuilt in our system, and the right information provided, we can trigger the smart technology to do shopping on your behalf and filter the right product and rates that best suits your profile. Lets chat!

23.01.2022 Great "Lender Expo for Broker" oraganized by CHOICE Aggregation today. All participated lenders provided their latest loan products and update on lending policy. Also, great insight from CoreLogic about the recent property market trend. Very informative day!

23.01.2022 Handly mobile app from ATO (Australian Taxation Office) that allow Sole Traders to record expenses, income and manage trips. Also allow you to upload your myDeductions records to your tax return at tax time or email a copy to your tax agent paymentshttps://play.google.com/store/apps/details?id=au.gov.ato.ATOTax&hl=en

23.01.2022 It’s been two months since HomeBuilder was first announced, and I’m sure many of us spent a bit of that time dreaming about an extra $25,000 to spend on a reno or new home. The good news is grant applications are now officially open. Find out if you are eligible. myriadfinancing.com.au/borrow

19.01.2022 Good news for small business owners!! With the recent eligibility criteria extension for the instant asset write-off scheme, businesses with a turnover of up to $50 million can now immediately write off depreciable assets that cost less than $30,000, helping offset the cost of investing in new equipment. If youd like to know more about securing finance for new assets or equipment before the end of financial year, call us today. ... To find out more about the instant asset write-off scheme, click on the link below: https://www.ato.gov.au//Instant-asset-write-off-increased/ This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax and accounting advisors before engaging in any transaction.

19.01.2022 I found the mobile app " MoneySmart First Business" launched in February 2017 by ASICs (Australia Securities & Investment Commission) quite handy. It contain quite a lot of insight information and helpful hint, as well as events and seminar to help out small business. The mobile app also provides practical tips, checklists, case studies and links to additional information relating to developing and running a small business. You can download from the following link, or direct from google play. https://www.moneysmart.gov.au///mobile-apps/first-business

18.01.2022 MORTGAGE OFFSET ACCOUNT EXPLAINED Andrew Mirams - November 29, 2017 Once you have bought your home, there are ways that you can minimise the interest you pay over the life of the loan. ... One of the most popular ways, however, is to establish a mortgage offset account, which will reduce the interest payable on your home loan depending on the savings you have in your offset account. The way it works is that any savings that you have in the offset account reduce your total loan amount, which in turns reduces the interest you need to pay. For example, if your home loan is $500,000 and you have $15,000 saved in your offset account then your monthly or fortnightly repayments will be calculated on $485,000. BENEFITS OF OFFSET FINANCE One of the major advantages is due to the fact that the interest rate on your home loan is generally higher than what you can earn in a savings account. It is particularly useful for people who may have large cash savings or are paying the highest tax rate. This is because if you leave any savings in an account in which you earn interest, you will likely have to pay tax on those savings. With an offset account, however, you dont earn any interest on those savings in fact, youre saving money on your home loan so theres no tax to pay. Some of the key features to look out for in a mortgage offset account include a no balance limit that allows you to use it like a regular savings account until the balance increases to offset the property loan; a facility that offsets 100 per cent of your balance against your loan, calculated daily to maximise the financial benefits; and one that has an interest rate that is the same as your property loan and moves in line with any changes to that interest rate as well.

16.01.2022 2 intensive days of induction with Lendi. Motivated mentors, dynamic culture and great minds dun have to think alike!

16.01.2022 FIRST DIAGNOSE THEN TREAT Brokers need to act like a doctor when they deal with specialist lending. Think about what happens when we visit our GP. When you sit down, the doctor doesnt launch straight in and say: Good to see you. Take this medication twice a day for the next six weeks. Instead, they will ask lots of questions so they understand what is going on, they first diagnose then prescribe which is exactly what brokers who work in specialist lending should do.... One-size-fits-all approach is never appropriate for lending borrowers and neither it is suitable for converting specialist business. By gaining an understanding of the clients unique circumstances, we are in a better position to provide them with right options.

15.01.2022 Ever wonder why some people get their loan approved faster? Check out some helpful hint. https://myriadfinancing.com.au/20//03/faster-loan-process/

15.01.2022 5 REASONS YOU NEED LANDLORD INSURANCE Insurance is one of those things that some people mistakenly think isnt worth the cost. Unfortunately thats why too many people choose not to take out appropriate insurance cover to insure their assets as well as their incomes....Continue reading

14.01.2022 Cars Guide -Novated Leasing by Jack Pyefinch , What is a Novated Lease?... A regular car loan is paid using your post-tax salary, meaning whatever is left in your bank account after youve paid tax, where as a novated car lease is paid before tax. when a car lease is paid before tax, not only do your dollars go further, but youre lowering your taxable income at the same time. It also hep increased buying power, when buyers go through a fleet company, they get a much bigger discount by utilising that buying power to secure the vehicle, rather than just walking into a dealership. Novated lease is subject to whats known as fringe benefit tax, or FBT, however, even with FBT, novated lease salary packaging can still save you money.

14.01.2022 In the current lending climate, with ever-changing policies and regulations, the need to be informed is essential. The 2018 SME Bootcamp organized by "The Adviser " propel the version of diversification. Amazing roadshow provided the knowhow and expertised for small and medium-sized enterprises (SME) lending. ... With more flexible and personalised approach, alternative avenues are provided for many Australians who need financial assistance,.

13.01.2022 Why pre-approvals are imperative for first homebuyers? Latest Property Investment Over the past year, the number of regulatory changes has not made securing finance any easier for all borrowers. Lenders now require more information, including a realistic assessment of living expenses, before determining whether to approve or deny a property loan.... Of course, the vast majority of home buyers and investors need finance to purchase property, but the one group who needs it the most is first-timers. Whereas, upgraders and investors might have some equity they can draw on to sweeten a deal, prospective property owners generally do not, which means they have strict price points that they can afford to buy in. The problem often is that they dont know what those financial goal-posts are before they start searching. While generic calculators can be useful, they are no substitute for an actual financial assessment of someones borrowing capacity, which generally can lead to a loan pre-approval. What actually is a loan pre-approval? A loan pre-approval is when a lender has provided provisional approval for a borrower up to a certain figure based on a rigorous assessment of their finances. The lender will still need to have the property valued, as well as complete all the required paperwork, before they will approve a loan on that specific property. In todays more tricky lending landscape that will likely mean that their offers are viewed more favourably than those punters who have done nothing about organising their finance at all. We have seen our clients be advantaged by this when they can make an offer, knowing their finance is secure, whereas another party cannot. At the end of the day, its just a great negotiating tool for an agent and a vendor to know that the property is sold.

13.01.2022 Mortgage comes in all shapes and sizes. The right product will fit your needs and put you in a better financial position. Tell us your needs myriadfinancing.com.au/borrow

13.01.2022 Our Area of Practise

13.01.2022 HomeBuilder Grant provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home where the contract is signed between 4 June 2020 and 31 December 2020. Eligibility To access 1) Construction must commence within three months of the contract date. 2) HomeBuilder will complement existing State and Territory First Home Owner Grant programs, stamp duty concessions and other grant schemes, as w...ell as the Commonwealths First Home Loan Deposit Scheme and First Home Super Saver Scheme. 3) Natural person (not a company or trust) 4) Australian citizen 5) Meet one of the following two income caps:$125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or$200,000 per annum for a couple based on both 2018-19 tax returns or later 7) Enter into a building contract between 4 June 2020 and 31 December 2020 to either build a new home as a principal place of residence, where the property value does not exceed $750,000; or substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property does not exceed $1.5 million 8) construction must commence within three months of the contract date. 9) HomeBuilder will become available through the relevant State or Territory revenue office. CASE STUDY EXAMPLE First home buyers Emma and Liam decide to purchase a house and land package. Emma and Liam enter into a house and land contract for $550,000 on 25 September 2020. Emma and Liams bank applies on the couples behalf to the relevant State or Territory revenue office to receive the HomeBuilder $25,000 grant. The revenue office conducts the eligibility checks and reviews the couples documentation and confirms that both Emma and Liam are Australian citizens, over the age of 18, have a combined taxable income under $200,000 based on their 2018-19 tax return and the value of the contract is under the $750,000 contract price cap. As the couple are both first home buyers, Emma and Liam may also be entitled to their States First Home Owner Grant and stamp duty concessions as well as the Commonwealths First Home Loan Deposit Scheme and First Home Super Saver Scheme

13.01.2022 TAX AND RECORD KEEPING TIPS FOR YOUR INVESTMENT PROPERTY Ken Raiss Latest, Property Investment, Property investment tax December 21, 2017 Do you make the most out of your potential tax deductions?...Continue reading

12.01.2022 Your time is precious. With 20-30 lenders' policy inbuilt in our system, and the right information provided, we can trigger the smart technology to do shopping on your behalf and filter the right product and rates that best suits your profile. Let's chat! myriadfinancing.com.au/borrow

12.01.2022 Mark Zuckerbergs letter urges newborn daughter to go out and play http://www.bbc.com/news/business-41079436

12.01.2022 Well said! A good and in time loan repayment master shall be valued and treasured! https://www.theadviser.com.au//37479-existing-mortgage-hol

10.01.2022 Its been two months since HomeBuilder was first announced, and Im sure many of us spent a bit of that time dreaming about an extra $25,000 to spend on a reno or new home. The good news is grant applications are now officially open.

09.01.2022 The ramifications of the explosive recommendations from the Royal Commission are at the forefront and will continue to be the prime discussions in the broking industry. Commissioner Haynes recommendation to move to a Netherlands-style mode. (i.e consumer-pays model). However, a 2017 study from business intelligence company Statista, titled "Banking in the Netherlands", has highlighted that the total number of banks in the Netherlands decreased from 99 banks in 2007 to just ...44 banks in 2017. As such, the proposal will likely take away the freedom of choice from millions of Australians. Whilst the general view is that brokers deal with rate, flexibility and convenience, but the most valuable aspect of a brokers role is, infact, solving and managing the ever-increasing complexity in Australias lending market. The changes in credit policy & documentation requirements has become more frequent, and credit appetite of lenders also varying with increasing frequency and amplitude. To safeguard the existence of broker to facilitate public access to smaller banks and niche lenders so that the Austrlian lending space has a healthy share and stay competitive. The Mortgage Broking industry is calling for your support #brokersworkforyou. https://m.youtube.com/watch?feature=youtu.be&v=EAahM8HmHiY Kindly sign this petition by the MFAA to show your support! Many Thanks! https://www.brokerbehindyou.com.au/support-your-broker/

09.01.2022 SUPER and NOT-SO-SUPER rules to investing with SMSF by Ken Raiss SMSF is a self managed superannuation fund, by which youre the trustee of the SMSF and you run it for your own benefit in retirement.... SUPER RULES 1. The main super rules is the policies around capital gains tax when youre in pension phase. For people who happens to turn 60 next year, theyre able to access funds from within their SMSF and pay absolutely zero tax if they sell a property at a later date, provided theyre in pension phase. 2. Theres also the lure of being able to be in charge of your own future. If theres going to be a purchase with debt, the asset cant be held directly in the super fund, the loan is called a LRBA limited recourse borrowing arrangement. what it means is that if you default on the loan, the person lending you money can only attack and take the asset they loaned you the money for. NOT-SO-SUPER RULES 1. Set up Cost - You have to consider legal fees, advice fees, bank fees and set-up fees and always check with your accountant first. 2. Bigger Deposit - Most investors keen to purchase a property with a SMSF would need at least $100,000 as an absolute minimum. 3. Higer Interest Rate - Banks will always charge a higher interest rate for a SMSF.

08.01.2022 Is good to know that after we turn 60+, the Banks are still willing to help!! Thanks to Reverse Mortgage. WHAT IS REVERSE MORTGAGE? Reverse mortgages are similar to a standard home loan, except they are designed for those aged 60+ and no regular loan repayments are required. The customer continues to own their home, and the loan is repaid when the last resident vacates the property (through downsizing, selling the property, passing away or moving to aged care).... Australian retirees have 70% of their wealth tied up in the family home, and are 15% of the population (3.6m). While all retirees are different, most have similar priorities. They want to be able to fund an enjoyable lifestyle, to have protection against running out of money, and to continue to live independently and part of their community in their own home. The full Aged Pension for a couple is less than $32,000 per year, and it is difficult for many to cover these essentials from this pension alone, let alone living the retirement they want and deserve. The solution: accessing the equity in their home with a reverse mortgage.

08.01.2022 Any first home buyer wanting to take advantage of the $20k First home owner grant, may wish to consider buying outside Victoria. FIRST HOME OWNER GRANT CHANGES FOR REGIONAL VICTORIA The First Home Owner Grant (FHOG) has increased from $10,000 to $20,000 for new homes built in regional Victoria (see below) and valued up to $750,000.... The $20,000 FHOG will apply for contracts signed from 1 July 2017 to 30 June 2020. Eligible first-home buyers of new homes in metropolitan Melbourne will continue to receive the $10,000 FHOG. More information

06.01.2022 State governments launch housing affordability initiatives housing affordability The Adviser 14:42 PM, 31 Jan 2018 ... The Victorian and Tasmanian governments have both launched new initiatives to make housing more affordable for local borrowers. The Victorian government has launched a new pilot shared equity scheme to help low- to medium-income-earning Victorians buy their first home. Under the $50 million HomesVic scheme, the government is assisting up to 400 first home buyers that meet the eligibility criteria to enter the market earlier by reducing the amount of money required for their home loan. It will target applicants with incomes of up to $75,000 for singles, or up to $95,000 for couples or families, who will only need to provide a 5 per cent deposit. The homes are in 33 priority areas, including 85 Melbourne suburbs, 130 regional towns and suburbs and seven peri-urban towns. When the properties are sold, participating buyers will pay the proportional interest, which the government will reinvest in other homes. more information will be available at http://homeownership.gov.au/

06.01.2022 Check out the link below to see how Victorian Government providing households and businesses with access to discounts on energy-efficient products and services. https://www.victorianenergysaver.vic.gov.au/victorian-energ

05.01.2022 Welcome to contact me to discuss more if you are looking into buying / investing property in Australia as an foreigner. https://myriadfinancing.com.au//non-permanent-resident-vi/

04.01.2022 RipHouse Investor Newsletter. Nov 2017 by Mike Mortlock Commercial Property Owners AND Tenants Can Benefit From Commercial Property Depreciation... As a commercial property owner or a commercial tenant, you can benefit by claiming tax deductions for commercial property depreciation. Whether youre collecting or paying rent, a "Tax Depreciation Schedule" should form part of your business planning. A commercial property depreciation schedule will list tax deductions you can claim for depreciation of capital works and the wear and tear of plant and equipment. Capital works include the actual building: bricks and mortar, walls, wiring, floors and other permanently fixed items. Plant and equipment cover items that have been installed within the building, such as furniture, shelving, appliances, bathroom fittings, air conditioners, carpets & floor coverings, window coverings and any specialist equipment required to do business. A tenant may also be able to claim a deduction for scrapping when vacating a commercial property, particularly if they are required to return the property to its original condition at the end of a lease.

04.01.2022 Were all looking forward to things eventually getting back to normal, or at least the new normal. And while its not clear exactly what the new normal will look like in the property world, there are some promising early signs.

04.01.2022 AFG Masterclass & Broker award 2019 Amazing event held by AFG (Australian Finance Group) today. Having the industry leaders sharing their knowhow & secrets to us. Thank you to all the sponsors and speakers. Congrats to Loan Gallery being awarded the Broker Group of the Year - 6 years in a row

03.01.2022 In recent times the availability of loan solutions for Non-Residents and Australian Resident purchasers with overseas income has significantly diminished. We have loan solution to help our clients whom are non-residents of Australia with overseas income wishes to invest in Australia property.* Foreigner loan package now have promotion interest rate of very competitive rate for first 2 years and continuous term, with attractive LVR and comfortable loan term. Feel free to con...tact me for more details if interested. Many thanks. * terms and conditions applied

02.01.2022 We’re all looking forward to things eventually getting back to normal, or at least the new normal. And while it’s not clear exactly what the new normal will look like in the property world, there are some promising early signs. Check your borrowing capacity now. myriadfinancing.com.au/borrow

02.01.2022 THE TRUTH ABOUT NEGATIVE GEARING Ken Raiss, Property Finance, Property Investment December 5, 2017 Negative gearing means that the interest you are paying on the loan and all other associated costs with the property is more than the income/rent you earn and as a result you are making a loss. ... What makes negative gearing particularly useful when it comes to personal tax is that, any net loss from investment properties can be offset against other income that would otherwise be included in your asses-sable income. What that means is that your taxable income bracket, and ultimately the amount of tax that you need to pay, is potentially reduced. Meanwhile, if the investment property goes up in value, but you dont sell it, no capital gains tax will be payable. On the other side of the tax equation, property investors have to pay Capital Gain Tax when they dispose of the asset. Of course negative gearing is more favorable for taxpayers who earn high incomes. Negative gearing is a funding model that is usually only used for a short period of time. Research from the Property Investment Professionals of Australia last year, found that 65 per cent of investors expected their properties to be positively geared within five years.

01.01.2022 Lendi Victoria Team Pre Christmas Lunch at Lamoros Great team, great food and another awesome STL result!!