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FEDERAL BUDGET 2020: GEORGE MARKOSKI FROM POSITIVE PROPERTY WEIGHS IN ON HOW IT WILL IMPACT PROPERTY

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GEORGE MARKOSKI FROM POSITIVE PROPERTY WEIGHS

On Tuesday the Treasurer released a historic Federal Budget designed to lift the economy out of the doldrums. 

A number of job creation and wage subsidy measures in the budget should George Markoski help rapidly reduce our unemployment rate especially amongst our youngest workers who have been hit hardest during the pandemic. 

After coming within a whisker of balancing the budget at the end of 2019, the Treasurer revealed the budget deficit is now projected to blow out to $213.7 billion this financial year, or 11 percent of GDP, the biggest deficit in 75 years. The figures are eye-watering, but the Government is determined to do what it takes to keep Australians in jobs and grow our way out of recession.

While the net debt position of $1 trillion is a bit of a shock, there is no question that the government had to do something fiscally significant to kickstart our economy. 

This is a real restart of the economy. Yes, it will take 10+ years to pay it back, but with the Government borrowing at interest rates less than 1% for 10 years, if there was ever a time to borrow to not just stimulate the economy, but create valuable assets, then now is the time. 

Touted as one of the most significant Federal Budgets since the Great Depression, and the first since the economic devastation sparked by the COVID-19 pandemic, Treasurer Josh Frydenberg said the next phase of the journey is to secure Australia’s future. 

The 2020 Federal Budget includes hundreds of billions of dollars of economic stimulus measures, the likes of which we’ve never seen before.

Key highlights at a glance

Taxes

  • More than 11 million Australians will receive tax cuts with a permanent cut of $47 a week for high-income earners.
  • Middle-income earners will also receive a one-off $21 with extension of the low and middle-income tax offset into 2020-21.
  • From 2020-21, the upper limit of the 19% personal income tax bracket will rise to $45,000 and the 32.5% marginal tax rate upper threshold will lift from $90,000 to $120,000.

Jobs

  • The Morrison government will pay businesses up to $200 per week to hire young Australians as part of a $4bn budget measure that aims to reverse an increase in youth unemployment during the recession.
  • The new incentive will target firms that employ young workers who had previously been receiving Jobseeker.
  • It follows Sunday’s announcement of expanded training subsidies, with the government pledging to cover half the wages of 100,000 new apprenticeships and traineeships.

Welfare

  • The government has announced two additional economic support payments of $250 to pensioners and other eligible recipients, worth $2.6bn.
  • Extension of the Jobkeeper payment support for a further six months until 28 March 2021.
  • Extension of the coronavirus supplement until 31 December 2020 at a rate of $250 per fortnight from 25 September 2020.
  • The budget doesn’t provide any clarity about the future of Jobseeker payment rates after Christmas.

Education

  • $1bn will be injected into Australia’s university research sector.
  • Funding for 50,000 online short courses to upskill workers and unemployed Australians in teaching, health, science, information technology and agriculture.
  • $299m to provide an additional 12,000 undergraduate university places in 2021.

Small business

  • Businesses with a turnover of less than $5bn – all but the top 1% – will be able to deduct the full cost of capital assets purchased after budget night and first used or installed by 30 June 2022.
  • Small and medium businesses will also be able to apply “full expensing” to second-hand assets; businesses earning $50m to $500m will be able to do so for assets of less than $150,000.
  • Companies with turnover up to $5bn will be able to offset losses against previous profits on which tax has been paid, to generate a refund.
  • Exempting from the 47% fringe benefits tax employer-provided retraining activities to employees who are redeployed to a different role in the business.
  • $4.5bn investment in NBN Co and $29.2m to accelerate the rollout of the 5G network.

Health

  • 23,000 new packages for older Australians waiting to receive at home care, at a cost of $1.6bn.
  • $2.3bn in announced funding for investment in Covid-19 treatments and vaccines and funding for the listing of new drugs on the pharmaceutical benefits scheme, including Lynparza for women diagnosed with ovarian cancer.
  • $750m in funding for Covid-19 testing and $171m for the extended operation of up to 150 dedicated respiratory clinics to manage and diagnose Covid-19 cases.
  • $798.8m for the National Disability Insurance Agency and NDIS Quality and Safeguards Commission.
  • A targeted capital gains tax exemption for granny flat arrangements where there is a formal written agreement, applying to arrangements with older Australians or those with a disability.

Environment

  • The Morrison government’s environment and energy budgets consist largely of pre-announced items, including funding for its technology roadmap for reducing Australia’s emissions and $52m for the expansion of Australia’s gas industry.
  • Tuesday’s budget reiterated the government’s plan to fund the Australian Renewable Energy Agency (Arena) for a further 10 years from 2022 to a total of $1.4bn. Over the next four years, the agency will receive $223.9m.
  • The government is spending $50m on carbon capture and storage to fund pilot projects it claims will “dramatically cut” emissions from industrial facilities and there is $70.4m over five years for a regional hydrogen export hub.
  • The environment minister, Sussan Ley, said the government would spend $67.4m on oceans and marine ecosystems.
  • Earlier this year the government announced $25m to reduce the timeframes for approvals for major projects. Tuesday night’s budget adds an extra $12m in funding over the next two years.
  • There is $52.9m for investments in gas – announced in September – including $10.9m for planning of gas infrastructure.
  • The government will spend $249.6m over four years on waste and recycling policies, including $190m for a recycling modernisation fund for new infrastructure to sort plastic, paper, tyres and glass waste and $233.4m to upgrade facilities at national parks.

Infrastructure

  • $14bn in new and accelerated infrastructure projects over the next four years in every state and territory, including Melbourne to Brisbane inland rail and Western Sydney international (Nancy-Bird Walton) airport
  • $3bn towards shovel-ready projects to support further job creation and economic recovery, including for small scale road safety projects.

Housing

  • An additional 10,000 places in first home loan deposit scheme in 2020-21 to support the purchase of a new home or a newly built home.

Super

  • Australians will automatically keep their superannuation fund when they change employers, stopping the creation of unintended multiple accounts.
  • A new online YourSuper comparison tool will help people compare the performance of funds which will be required to meet an annual performance test.

I believe the budget will be metaphorical rocket fuel for property prices across Australia. The pandemic has upended the rule book when it comes to economic management and this budget was destined to be an outlier compared to any other in living memory.

What’s happening in the market right now?

Prior to the announcement, property experts markets were holding up much better than a lot of property experts thought they would, predicting a 30-50% drop, whereas the majority of markets didn’t get to double digits (apart from VIC and WA). 

Dwelling values were steady in numerous locations, apart from Melbourne, with the low volume of stock creating strong competition amongst buyers.

In the markets we certainly aren’t seeing any bargain prices – and that state of affairs will not change in the months ahead. That’s because one of the early indicators of future property price growth is when there is an undersupply of rental properties, which starts to force rents upwards.

I am encouraging my members to buy now before the upcoming property boom.

In the parts of the country that we’re buying in for our members, we’re competing with homebuyers and savvy investors for the best opportunities. Our members have been steadily growing their wealth, thanks to our tried and tested Markoski Method™.

These are uncertain times and with the budget ‘rocket fuel’ now underway, it’s hard to determine how long the opportunity to take advantage of the upcoming boom will last. 

How will the budget impact property prices?

This budget indicates that the Government wants our economy to rebound as quickly as possible and is obviously prepared to spend whatever is necessary to make that happen.

When it comes to the impact on property prices, I believe the budget measures will supercharge the next round of growth. Although property prices never really contracted by much, I’m confident that we’re going to see a sharp recovery.

If you want to hear more on my thoughts about the impact of the budget listen to my podcast series The Positive Property Show

At the end of the day as long as you have a sound investment strategy, thinking of the long term, you’re going to be safe no matter what the markets are doing. I haven’t got a crystal ball, neither does anyone else, and there may be a short little dip, however the prospects of long term property investing looks awesome regardless.

Educate yourself so you can take advantage of the upcoming boom. Join like minded investors who are wanting to live life on their own terms in our free Positive Property Group

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BUSINESS

How to Encourage Your Employees to Think Strategically

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How to Encourage Your Employees to Think Strategically

Employers are having a hard time finding talented employees right now. Despite millions of open jobs following the COVID-19 pandemic, many employees are reluctant to return to work.

As an employer, that means now might be the time to rethink how you’re doing things.

You need your employees to be as productive and loyal as possible as you navigate an unusual labor market.

You want them to be strategic thinkers and problem-solvers.

When your employees think strategically, they’re going to be more innovative, and they’re always learning and working to improve themselves, which translates to better job performance. They can make empowered, data-driven decisions, and they take calculated risks that are more likely to benefit your entire company. Strategic thinkers are also more inclined to take constructive feedback and integrate it into the work they’re doing.

With that in mind, the following are ways you can help current and future employees be more strategic thinkers for the benefit of your business.

Automate Where You Can

If you were to automate, for example, your accounts payable department with a software solution, this is going to not only reduce things like human error but it’s going to give your employees the freedom to think more about problem-solving solutions.

When your employees are too bogged down with repetitive tasks that aren’t high value but are necessary, then they’re always doing the mundane. That’s preventing them from thinking on a higher level.

Many employers worry their employees will be resistant to automation, but that’s not the reality at all.

Your employees can do more with less and improve their productivity.

Do an audit of some of the most repetitive processes that could initially be most benefited by automation and start there.

Cultivate an Ownership Mentality

There are a lot of specific ways that you can get your employees to think like owners. First and foremost, give them authority and empower them to make decisions. Autonomy and decision-making power are so essential to create a mentality of ownership among all of your employees.

Put them in charge of something. Even something small that an employee gets to take ownership over will help them think like an owner in other areas.

You can also help employees take on thinking that’s more in line with being an owner by rewarding them financially. For example, when your employees, either individually or as a team, can succeed and help promote company growth, maybe you reward them with a cash bonus or some type of profit-sharing agreement.

Even if you can’t financially always reward your employees, recognition is another way to reward them that will help with that ownership mentality.

Let Employees Do Things Their Way

We touched on this a bit above, but there’s so much value in letting your employees decide on their own way to do certain things. It’s empowering for them, and they’re forced to be strategic as far as how they choose to approach tasks or projects.

If you have workflows that are too rigid or you micromanage too much, then your employees don’t feel like they have the opportunity to be strategic, and this is what guides your company culture.

You want your employees to be proactive in addressing things in the workplace, and again, letting them decide on the best path forward, as long as they meet whatever the outcome is can help with this.

Along the same lines you do need to be very specific in what outcomes you expect if you’re going to let employees decide on their own way to get there.

As you let employees make decisions, they don’t have other people to rely on to help them along the way, which allows them to develop a sense of confidence, and as was addressed above will also help create that ownership mentality that’s so important for strategic thinking.

Give Them Time to Think

Sometimes your employees can be so busy or feel like their time is so overly scheduled during the workday that they don’t have time to dedicate to strategic thinking.

Set aside blocks of time where your employees have the freedom to think things through and identify solutions, whether that’s in a group or individual setting.

You might have a specific problem you’d like them to solve in the short or long term.

Offer Mentorships

Mentoring is great for employees and employers. When you partner your high-performing employees with a senior-level employee, then they can improve those so-called soft skills, including leadership and strategic thinking.

If your employees are currently working remotely some or all of the time, mentorships are especially important to keep everyone connected to your culture and make sure you don’t forget about development opportunities for remote workers.

When your employees are paired with a mentor they can see first-hand what broad thinking can look like.

Be Transparent and Share Information

If you want your employees to be able to see the big picture and think more broadly, they need all of the available information.

This is where you, as a company leader, are especially relevant. You want to be transparent and share as much information with your employees as you can.

This will help them look at things in a larger way. Maybe you’re sharing your company’s plan for the future, or you’re sharing new insights you’ve just gotten based on data.

Whatever it is, your employees can’t think strategically and make problem-solving decisions without all the relevant information.

While a lot of helping your employees be more strategic in their thinking relies on giving them freedom, there should also be boundaries.

Let your employees know when it is time to come for you to ask a question or have a conversation. Let your employees know how you prefer to be informed if there is a problem that they can’t solve.

Give your employees a framework for what to do when they need help, and create an environment where they aren’t afraid to approach you when necessary.

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BUSINESS

Are You Familiar with These Best Outsourced Accounting Services to Grow Your Business?

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Are You Familiar with These Best Outsourced Accounting Services to Grow Your Business?

Accurate accounting is the basis of every successful business. The outsourced services provide you with benefits in the financial management of your business. By using accounting services, the company can make strategies about profit and loss and enhance the business’s performance in the market well. It provides accurate quantitative data and is aware of all the taxes. It saves your time and money as compared to hiring the accounting teams.

If you are looking for the best-outsourced accounting services, have a glance at the given companies!

1.     Just Jump Business Solutions

Just Jump Business Solutions-Accounting services Greensboro is a highly reputable name that makes the accounting department of your business strong. It provides you a space to efficiently promote your business by dealing with all matters other than the financial matters, which require your attention. It offers many remarkable services like tax planning and resolution, chief financial officer, profitability assessment, financial consulting and forecasting, and many more.

2.     Bookkeeper.com

Bookkeeper.com is the best and authentic outsourced accounting service. You can say this is the all-in-one solution to all the problems in a business. It shares monthly financial records with your team, mail paychecks to customers, make sure invoices for pavement in time, make a strong connection between quick-books with bank accounts and make authentic bills and checks.

3.     inDinero

inDinero is the best service that provides you software to correctly fix the bills, taxes, and other pavements. It is best for the financial of mini-projects. It gives you the experts in a limited and flexible budget. It is easy to use with prominent features. It makes your business dealings easy by making bank bills and other pavements needed.

4.     Free Agent

Free Agent is the strongest accounting software that gives you the best services to promote your market value. It is very easy to use with no complications. Even accounting freelancers use it, make your bills and checks on time, send messages to the customer to complete their remaining invoices, and secure your data. It adds the new clients according to your need, notices their credit hours, and pay them accurately. It can be used even on the smartphone.

5.     Bench

The Bench is the best accounting service a mini branch can use. It is very easy to proceed even you can use it on your mobile phone. It provides the budget details and encryption security. This service prepares your tax list properly and aware of the taxable bills accurately. It can run 15 custom accounts in time and prepare monthly invoices and all budget records in detail.

6.     Pilot

The Pilot is the most effective software a business can use. It prepares pertinent details of your business transactions and financial information. The Pilot arranges the whole month’s data and makes the budget model in which all the financial records are mentioned. So even it is cost-affected, it requires a small amount that is less than the value of their services.

Verdict

Keenly observe the mentioned companies and choose the services that suit your business requirements and budget. All the companies try to give you effective services but effective and best are different things. If you are looking for the best company to look after your budget scheme and financial record with security and responsibility, you should try Just Jump Business Solutions – Accounting Services Greensboro.

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BUSINESS

Do You Know These Interesting Fun Facts About 3D Virtual Tours?

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Do You Know These Interesting Fun Facts About 3D Virtual Tours?

In the age of technology, every person beyond the limits of his field benefits from amazing technical features to market his business, and it is a clear definition of revolutionary technology. No matter what you want to sell or buy, any venue can turn into a three-dimensional virtual tour with a single session with a company that provides the services. As a result, you can explore any desired place without traveling. The same is the case with virtual home tours through which you will be eligible to see every nook and corner of that house. Doesn’t it amazing? If yes! Then keep reading down.

Interesting Fun Facts about 3D Virtual Tours

Here are some interesting facts based on statistics that appeal to you to get 3D virtual shoots, and they are beneficial too. Some of them are as follows:

#1. Customer’s Demand, Agent’s Preference

According to the survey of Google, almost 67% of people prefer 3D virtual tours. And they are up to the desires and expectations of the clients and make it easy to run the business of the property agents.

#2. Capture the Viewers on the Site

It is noticed that the agents that provide the services of 3D virtual tours get maximum views on their site because people want to see the place of their desire from each possible and clear angle. And the site gets 50% more views than the others that have no virtual 3D services.

#3. Boost Your Online Company

The maximum consumers prefer to search online almost 80% of the total consumers that boost the company website.

#4. More Chances of Market Penetration

The printed advertisements have fewer chances to penetrate the market than the online 3D virtual tour advertisements because it costs less and attaches more people to the content. It remains on the internet without any expired shelf life. On the other hand, print advertisements can stay in the market only for a month.

#5. Reliable Purchasing Through the Agents

According to 80% of clients globally, it is confirmed that they buy to prefer the real estate shoots with every possible detail.

#6. Google Prefer Virtual Photography

Google prefers the virtual home tour shoots compared to flat thumbnail photography with the proportion of 2:1. So if you want to see your product on the top searches, go and get a virtual shoot now!

#7. New Generation’s Favorite

The new generation always prefers revolutionary ideas over the traditional ones. Now almost 130% of people between the ages of eighteen to thirty-four choose virtual home tours compared to going physically to a certain place. And next generation will completely rely on virtual tours.

#8. Platform to Get Double Interest

Virtual Photography increases the quality of the product and appeals to the customer to buy it by increasing the trust in the brand. So the Google business with 3D virtual home tours results in double interest.

Last Words

The above statistical analysis depicts that virtual tours are the essence of online business. Furthermore, they make the product unique and eye-catching and enhance its worth as people want to talk about it offline. If you’re shooting your house, you can check the Chicago home photos with matterport Chicago, providing the best immersive 3D image services. To book them, contact us today!

For more detail please visit

How can the Virtual Home Tours Prove Beneficial for Real Estate Agents?

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