Show Notes
Welcome back to CEO Breakdown.John Saade is back with another update on the Australian property market, and this one goes beyond house prices.Sydney property is falling faster than many experts expected. Forecasts are being revised lower, major banks are warning of more rate rises, and high end homes are already selling for millions below their previous sale prices.John breaks down the latest property headlines, including warnings about a potential recession, deeper property price falls, mortgage stress, falling buyer confidence, and why some sellers may no longer be able to keep their heads in the sand.But the bigger question is what happens next.If property prices fall, transactions slow down, and stamp duty revenue collapses, state governments lose a major source of income.So where do they get the money from?John looks at whether governments could eventually turn their attention to the family home, why stamp duty has become such a fragile revenue source, and why a property downturn could quickly become a government budget problem.He also discusses the Bathla collapse, the ATO debt issue, workers being stood down, the risk to creditors and employees, and why unpaid tax debt can create serious flow on effects through the economy.This episode covers:Sydney property price fallsHSBC’s revised property forecastsAlan Kohler’s recession warningBig 4 banks forecasting further rate risesWhy low interest rates may not come back soonBalmain and Birchgrove property lossesMortgagee in possession salesBuyer opportunities in a falling marketWhy borrowing capacity drives house pricesBathla standing down more than 200 workersThe ATO debt problemWhy unpaid PAYG and GST can hide bigger business issuesStamp duty revenue fallingWhy state governments rely on property transactionsThe risk of state budget holesCould the family home be taxed next?Land tax and the family home debateTom Panos on property falls and household wealthThe work from home debateWhy John believes office culture still mattersJohn is not saying a new family home tax is guaranteed.But if stamp duty revenue keeps falling and state governments need to find money, he asks the question many homeowners probably do not want to think about:Could the family home be next?Need an accountant?GET A FREE CONSULTATION FOR ALL ABN HOLDERShttps://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV_ompEVvnkA0eygWlJxXO5OajFsjjngf_jzwOUR SERVICEShttps://latitudeaccountants.com.au/accounting-services/[email protected]://www.tiktok.com/@latitudeaccountantsInstagramhttps://www.instagram.com/latitudeaccountants/YouTubehttps://www.youtube.com/@LatitudeAccountantsLinkedInhttps://www.linkedin.com/company/latitude-accountants/Facebookhttps://www.facebook.com/latitudeaccountants/Websitehttps://latitudeaccountants.com.au/This content is general information only and does not constitute financial, legal, tax, property, mortgage, investment or business advice. Speak with a qualified adviser about your own circumstances.
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