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Valuations over April haven't been greatly impacted, however, we don't know if this will last. This is supported by CoreLogic Home Value Index, which showed Australian housing values have held strong throughout April, despite a sharp drop in market activity, severely weak consumer sentiment, and ongoing restrictions placed on the residential sales market amid the COVID-19 pandemic. Overall, National housing values increased by 0.3 per cent in April.

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The conversation around stamp duty reform has gained momentum in recent weeks at both the state and federal level, with everyone from RBA Governor Phillip Lowe to Treasurer Josh Frydenberg to state politicians suggesting that land tax reform may have a role to play in Australia's post-COVID economic recovery.

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The central bank has been urged to consider further cuts to the cash rate in the wake of the unprecedented COVID-19 crisis. As anticipated, the Reserve Bank of Australia (RBA) has announced that it has held the official cash rate at 0.25 per cent following its monthly monetary policy board meeting.

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For most Australians, tax is an unavoidable fact of life. A portion of the money we earn, either through work or investment is remitted every year to the Australian Taxation Office (ATO).

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