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Tax time is just around the corner and the ATO has sent out a warning to businesses around the country that owe it money: the COVID-19 moratorium on debt collection has come to an end. Rest assured though, you’ve got some options. During the early days of the pandemic, the ATO says it deliberately shifted … Continue reading “No more Mr Nice Guy: the ATO wants its money”
Rising interest rates got you feeling a little vulnerable? It might be time to take some control back by refinancing or asking for a rate review. Here’s why we’re seeing refinancing numbers surge across the country. In just two months we’ve seen the Reserve Bank of Australia (RBA) increase the cash rate from a record-low … Continue reading “Refinancing numbers are surging across the country, here’s why”
The Reserve Bank of Australia (RBA) has increased the official cash rate by 50 basis points to 0.85%. How much extra should you expect to pay on your home loan? Today’s cash rate hike is the second in as many months, with the RBA last month increasing the official cash rate from a record-low 0.10% … Continue reading “RBA increases cash rate for second consecutive month, to 0.85%”
Some of Australia’s biggest banks have tightened their mortgage lending criteria, meaning you might not be able to borrow as much from them. How might this affect your next purchase? This week ANZ lowered a key lending cap, indicating it will no longer lend to borrowers with a debt-to-income (DTI) ratio above 7.5 (meaning people … Continue reading “”
Small businesses around the nation are once again confident about their future and ready to start driving toward their next phase of growth, according to new research. The research, carried out by small business lender Prospa, found that 81% of Aussie SMEs expect their businesses to grow over the next 12 months. This is despite 87% … Continue reading “Bulk of SMEs preparing for growth over next 12 months: research”
Property investors beware: the Australian Taxation Office (ATO) has revealed the four key areas it will be targeting this tax year, and rental property income/deductions and capital gains are high on the hit list. Tax office Assistant Commissioner Tim Loh says this tax season the ATO will be targeting four key problem areas where it commonly sees … Continue reading “ATO hit list: rental property income and capital gains”
Housing affordability is one of the key battlegrounds ahead of the federal election this Saturday. So what is each of the two major parties proposing to help first home buyers crack the market? Let’s take a look. Now, before we get into the nitty-gritty, we’d like to stress that we’ll be doing our darndest to … Continue reading “The two major parties’ first home buyer policies explained”
Small business owners wanting to buy a vehicle, asset or important piece of equipment and immediately write off the cost have just over a month to act this financial year. There’s nothing like an impending deadline to get you moving. And with June 30 now just over a month away (didn’t that sneak up on … Continue reading “EOFY alert! Financial year-end is fast approaching”
Rate rises are a bit like taking off in a plane. Sure, it’s a bit nervy, but so long as you’ve run through your pre-flight check, have a well-serviced aircraft, built-in some contingencies (a buffer!), and have a handy co-pilot (us!), you should reach your destination no worries. As you’re likely aware, earlier this month … Continue reading “Ready for lift-off: how to prepare a buffer for more rate rises”
The Reserve Bank of Australia (RBA) has increased the official cash rate by 25 basis points to 0.35% amid high inflation concerns and has signalled more cash rate increases will likely follow. This is the first RBA cash rate hike since November 2010, and the first time the cash rate has moved since it was … Continue reading “RBA increases cash rate to 0.35% amid high inflation concerns”
Australian small businesses are investing in their recovery through a surge in machinery purchases, IT and office technologies, and sustainable business assets, according to Commonwealth Bank (CBA) data. The CBA research shows small business financing for equipment and machinery is up 17% so far this financial year compared to last year. The research also shows 67% of … Continue reading “SMEs invest in machinery, IT and energy-efficient assets for growth”
The chances of the Reserve Bank of Australia (RBA) lifting the official cash rate on Tuesday just increased dramatically after figures showed the cost of living jumped 5.1% over the past year – the highest annual increase in more than 20 years. Economists around the country say the unexpectedly high jump in inflation means a … Continue reading “Brace yourselves: a May rate hike might be coming next week”
