The federal government has extended the small business responsible lending obligations exemption. Currently, an exemption allows businesses with fewer than 100 staff and less than $5 million turnover to access credit without being assessed against the responsible lending obligations, so long as there is a genuine...
More consumers are taking out personal loans than ever before, the latest data has confirmed. Borrowers signed up for a record $2.741 billion of personal loans in August, which was 2.0% higher than the month before and 15.3% higher than the year before, according to the...
The Reserve Bank of Australia (RBA) has raised the cash rate over the past couple of years to combat inflation and, now that inflation has been falling to more reasonable levels, may reduce the cash rate in the near future. So there was much interest...
Even though some heat has come out of the property market over the past few months, mortgage activity remains high. Borrowers took out $30.38 billion of home loans in August, which was 1.0% higher than the month before and 23.0% higher than the year before, according...
Did you know that investment scams lead to the highest financial losses in Australia? In fact, Australians lost $1.3 billion to investment scams last year. While investment scams may occur less frequently than other types of scams, they can leave a devastating impact. There are many...
How long does the average small business wait to receive payment for their invoices? And how late is the average payment? The latest Xero Small Business Index has the answer to both those questions. Between July 2023 and May 2024, average payment times ranged between 22.2 and...
Australian property achieved a record median gain of $285,000 from resales in the June quarter, the highest since the early 1990s. CoreLogic’s Q2 2024 Pain & Gain report analysed around 91,000 resales, showing that 94.5% of transactions resulted in a profit. Overall, $31.8 billion in...
Running a business in today’s fast-paced environment presents plenty of challenges. However, with our support, managing cash flow doesn’t need to be one of them. We’re here to help you navigate the complexities of business finance, so you can focus on what matters most—growth and...
First home buyers and single parents who may be finding it challenging to get on the housing ladder should take heart from a new report from Housing Australia. About one in three first home buyers who purchased a property in the 2023-24 financial year used the...
The property growth cycle is continuing for now, but appears to be closer to the end than the beginning. Australia’s median property price rose 0.5% in August, which was the 19th consecutive month of expansion, according to CoreLogic. However, “the pace of growth is showing clear...