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As of January 16, first home buyers in New South Wales can choose between making a one-off stamp duty payment or paying an annual property tax. Under the First Home Buyer Choice scheme, the annual land tax is: Owner-occupiers = $400 plus 0.3% of the land value (not property value) Investors = $1,500 plus 1.1% … Read more
The federal Treasury has launched an inquiry into the buy now, pay later sector, which is likely to result in tighter regulation for BNPL services. “These products deliver real benefits to the vast majority of these consumers,” said Minister for Financial Services Stephen Jones. “But there is a regulatory gap that can leave some vulnerable … Read more
Natural disasters can be devastating for small businesses, yet only one in four have a current business continuity plan, according to a new report tabled in parliament. The report, which was prepared by the Small Business Natural Disaster Preparedness and Resilience Inquiry, found that businesses with a plan are better able to bounce back after … Read more
When you’re paying off a mortgage, budgets matter. Knowing how much money is coming in and going out will not only help you manage your monthly repayments, it will also ease stress and give you confidence in your financial situation. So what makes a good budget? Here are three tips to organise your finances. Track … Read more
Industrial has been the best-performing commercial asset class during 2022, followed by medical and childcare, according to one of Australia’s leading commercial property analysts. Ray White Commercial head of research Vanessa Rader said demand for industrial property has grown hand-in-hand with the growth in logistics, distribution and transport. Supply, though, has not kept pace with … Read more
Australia’s unemployment rate has been remarkably steady – and low – for more than a year, but it might start trending upwards in the coming months. Unemployment rose from 3.6% in September to 3.7% in October, according to the Australian Bureau of Statistics (ABS). That marked the 16th consecutive month in which it had hovered … Read more
The average interest rate charged on home loans has, surprisingly, increased by less than the series of cash rate hikes during 2022 and 2023. Between May 2022 and September 2023, the cash rate increased by 4.00 percentage points, whereas interest rates on outstanding mortgages increased by an average of only 2.90 percentage points, according to … Read more
Businesses that fall behind on their tax and superannuation obligations could be reported to credit bureaus, the Australian Taxation Office (ATO) has warned, potentially making it harder and dearer for them to secure loans. After the ATO went easy on enforcement during the pandemic, it said it had returned to “business-as-usual debt collection”. As a … Read more
When you buy your next vehicle, there are three different ways you can get a loan. The first is through your car dealer. This can be convenient, because the dealer can sell you a car and arrange a loan at the same time. But there are a few things to consider when it comes tobig … Read more
The federal government’s Home Guarantee Scheme (HGS) is helping an increasing number of Australians break into the market, research from Housing Australia has found. According to the Federal Government, more than 32,500 guarantees were issued in the 2022–23 financial year, an increase of around 39% on 2021-22, when 23,300 guarantees were issued. That included: 10,860 … Read more
