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...
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...
Most property investors are making errors in their tax returns, despite the fact 86% use a tax agent, according to Australian Taxation Office (ATO) Assistant Commissioner Rob Thomson. The most common mistake investors make is not understanding what costs can be claimed and when – particularly...
Earlier in the year, many economists felt the Reserve Bank of Australia (RBA) might start reducing the cash rate from the third quarter of this year. Now, increasingly, those forecasts are being pushed back, with some economists believing the first cut won’t occur until 2025. Inflation,...
The Australian Taxation Office (ATO) has revealed it will be paying close attention to three key things on tax returns for this financial year. The first relates to property investors making mistakes when it comes to repairs and maintenance deductions. “You can claim an immediate deduction for...
Treasurer Jim Chalmers unveiled a series of measures in this year's federal Budget to address what he said was the government's “number one priority” – cost-of-living relief. The centrepiece was the Stage 3 tax cuts. This included a tax cut for all taxpayers, with an average...
The Australian Taxation Office has reminded small businesses they may be eligible for tax concessions. Businesses with an aggregated turnover of less than $2 million can qualify for capital gains tax (CGT) concessions, including the small business 15-year exemption, small business 50% active asset reduction, small...
Australian motorists bought 96,859 new vehicles in July, beating the previous July record of 92,754 that was set in 2017. The Federal Chamber of Automotive Industries (FCAI) also reported that 14.7% more new vehicles were sold in July than the same time last year, with every...
As part of our Finestream service, we are currently engaging in a thorough manual review of our clients' loans that involve fixed portions or entirely fixed home loans. Providing our clients with a comprehensive guide on what to anticipate upon the expiration of their fixed...
Saving for that mid-year holiday can be a daunting task, but with a bit of planning and discipline, it's achievable. Here are our top five tips for saving towards a holiday: Set a realistic budget: Before you start saving, create a realistic budget for your...