5 Key Takeaways From the 2020 Budget

Industry News, Journal,  Buyers and sellers,  Principals,  Salespeople,  Training

In case you missed the Federal Government’s 2020-21 renowned Budget, we have the lowdown. Find out how this year’s numbers provide an encouraging outlook for real estate professionals and the property sector. 

1. Investment in housing affordability and borrowing capacity

The government will bring forward the Stage Two tax cuts by two years. This Federal Budget announcement particularly benefits lower and middle-income earners with adjusted tax brackets. As a result, dual income families will now earn up to $5490 more a year. The investment in borrowing capacity is evident, accompanying government reforms to facilitate an increased flow of credit to households and businesses 

However, the REIQ recommends further investment in safe, secure and affordable housing to help low-to-moderate income households transition from the rental market to the property market.

2. Extended benefit for first home buyers

Extending the existing benefit for first home buyers, the government has expanded their First Home Loan Deposit Scheme to include an extra 10,000 buyers. With this Federal Budget initiative, first home buyers will be able to purchase their first home with a small deposit of only 5 per cent. The scheme is only available for the purchase of a new build or a brand-new home.

While the REIQ welcomes this measure from the Morrison Government, it is disappointing to see the lack of support for first home buyers looking to purchase property beyond new construction.  

The peak body is still lobbying the State Government in the hopes of having the First Home Owners Grant extended to established housing, to assist more first home buyers in getting their foot on the property ladder. 

3. Increased employment

The Federal Budget also announced that companies who employ young Australians aged 16 to 35 will receive a back-to-work subsidy. Providing a positive outlook for the 450,000 people currently on JobSeeker and seeking employment.

In addition to this, the government is investing in key industries that have been affected by the pandemic.  Industries receiving support from the government include construction, tourism and manufacturing. 

This initiative benefits buyers, sellers, tenants, investors and homeowners, as a pick-up in economic activity supports the property market and leads to consumer confidence.

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4. Growth in regional Queensland

Reinforcing the existing growth of regional Queensland’s home, unit and land markets, the government will be injecting $100 million of the Federal Budget into local infrastructure. 

This announcement provides good news for real estate professionals in regional Queensland and those located in Brisbane, as upgrades to our rail and road systems will be fast-tracked throughout the state. 

5. Recovery of small businesses

Small businesses will benefit from a range of changes introduced in the Federal Budget to assist with the pressure of tax, and to help speed up their economic recovery.  

Exemptions for Fringe Benefit’s Tax, the reintroduction of the loss carry-back tax provisions, and expansion of the instant asset write-off program will benefit many small to medium businesses in the real estate industry. In addition, it will provide support those looking to invest in the property market. 

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Here’s what others have to say

I found the REIQ Real Estate Licence Online Training Course was very good, easy to access, with brilliant course materials to read and assignments that really checked on your understanding of the details of every aspect of real estate practise. I enjoyed the course even though it took a few months due to working full time and found the support of the trainers and assessors very helpful and encouraging. Thanks REIQ Training team for helping me through!
Lindy Lear
Lindy Lear
10:47 18 Oct 20
Gerry MacKenzie
Gerry MacKenzie
06:53 12 Oct 20
Good course. Materials and tools given to finish the course easily. Was no problem to finish. Support is there if needed it.
Jade Dodds
Jade Dodds
09:11 09 Oct 20
I would like to share with you our experience that we have recently had through the REIQ Professional Development Team.We have had an awesome start to 2020 thanks to the great service provided by the REIQ Professional Development Team. Congratulations to Liz who started and finished her Certificate of Registration Course with the REIQ in December 2019. She loved the training, particularly the fact the trainers are experienced and still walk the talk and are active in real estate. Fast turnaround for marking of the assessments with help on hand by way of tutoring if needed meant she could get the Application to Office of Fair Trading for her registration happening quickly. We are thrilled, from start to finish with the course and application to Fair Trading she had her Certificate of Registration within 5 weeks. Really impressed with the training, help and support team REIQ gave Liz and the quick processing time by the Office of Fair Trading.We also regularly use the Property Management Support Service and General Agency Advice Service and believe it offers great value for our membership. The PMSS team provide practical advice by practising property management professionals who can relate to the everyday challenges property managers face.Keep up the good work Team REIQ,
RE/MAX Ignite
RE/MAX Ignite
05:56 21 Jan 20
I cannot recommend REIQ enough. The training, environment & staff were beyond my expectations. A special mention for Rachael who is a trainer at REIQ. Rachael knows her stuff. Her knowledge of the industry and style of delivery helped me get across the line and score my dream job.
Paul Conway
Paul Conway
05:11 15 Jan 20
I wasnt sure that I would get through the Agents and Licence course with everything I had on, made an attempt a year ago with another provider that went totally pear shaped but the REIQ course is structured in a way that made sense. While all of their trainers are experts in their field, they offer onsite student support on Tuesdays with Rachel providing the right advice and reassurance to get you there, even if you havent studied for a while. If you've ever wanted a career in Real Estate this is where you get started!
Lynette Nitson
Lynette Nitson
01:48 13 Jan 20
Great staff that are always helpful.
Kensington Ràpoza
Kensington Ràpoza
11:20 28 Dec 19
Great friendly environment
David Priest
David Priest
22:47 19 Nov 19
Very impressed with the trainers that I have had for the past 3 days. Each individual trainer was very helpful and made sure that everyone in the class understood everything before we progressed through the modules.
Shannon Goldsworthy
Shannon Goldsworthy
04:34 23 Oct 19
Recently completed my Licence course and thoroughly enjoyed the in-class tutorials taught by highly professional trainers with many years of industry experiences. The student support that is available every Tuesday is an extremely helpful resource, again with very experienced trainers to ensure you get the right advice the first time. REIQ has really structured the entire full Licence course end to end thoughtfully, especially when you’re new to this industry. Highly recommended!
Julian Phua
Julian Phua
07:01 02 Oct 19
Recently I completed the Real Estate Licensing course at REIQ and was blown away by the help and support provided by Ms. Connie McKee who is a trainer at REIQ. Connie is very professional and has years of knowledge and work experience in the Real Estate Industry.I am glad I chose REIQ as my pathway into the Real Estate Industry.
Kaizan Irani
Kaizan Irani
00:23 30 May 19
Helpful staff. Useful networking events and training videos.
Eagle Real Estate
Eagle Real Estate
02:27 25 Jul 18
Just done two days interactive training with Melissa Sullivan. Sensational! Such a great presenter and electric delivery of material. Quick paced and hands-on!Very glad to have been in this class!!! Awesome
Miles Griffiths
Miles Griffiths
07:01 26 Jun 18
Jason Bond
Jason Bond
10:29 19 Jun 18
Welcoming and friendly staff, always available to support their members. The Property Management Support Team is particularly helpful. Well worth the subscription fees just to have access to advice from these experienced practitioners.
Laura Valenti
Laura Valenti
21:29 16 Jun 18
Haydn Denovan
Haydn Denovan
02:51 20 Mar 18
Jacqui McKeering
Jacqui McKeering
02:01 08 Mar 18
Proud to be a member of such a prestigious organisation. Thank You for the support 🏡
Jamie Smith
Jamie Smith
07:28 07 Mar 18
Blake Richard
Blake Richard
01:34 05 Mar 18
Tina Nenadic
Tina Nenadic
12:57 02 Mar 18
Michelle Wright
Michelle Wright
04:07 26 Feb 18
Rob Honeycombe
Rob Honeycombe
21:51 16 Dec 17
Annette Jeffs
Annette Jeffs
14:43 23 Nov 17
Adam Milton
Adam Milton
01:52 22 Nov 17
Katie Cotton
Katie Cotton
10:04 31 Oct 17
Liam Hanlon
Liam Hanlon
12:06 05 Sep 17
Had Melissa Sullivan conducting the sales registration course for the past two days I have to say I think this woman is inspiring she kept the class focused and engaged throughout the two days. I dont normally complete surveys but felt that I wanted to share that this lady has inspired me to give sales ago and I never thought i would say that as i have been a PM and honestly never thought I could see myself as a sales agent... Thanks Mel for such a great two days
Karen Riddell
Karen Riddell
07:04 03 Aug 17

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