, , , , , , ,

How much extra will your mortgage cost when interest rates rise?

After 18 straight RBA cash rate cuts it can be easy to dismiss the notion that interest rates might rise again. But if the cash rate returned to mid-2019 levels, how much extra would an average new mortgage holder expect to pay each month? Let’s take a look. They say what goes up, must come down. But does what goes down, have to come up? Well, the big banks think so - and sooner than many expect. While the RBA…...
Read More
, , , , ,

SMEs to get full asset write-off extension and fairer go with ATO

Small businesses in dispute with the ATO over their tax debt will get “a fairer go” under new rules proposed in the federal budget. Meanwhile, one-year extensions have been granted for the full asset write-off and loss carry-back schemes. Let’s break it all down. There’s a lot to digest in this year’s pandemic-recovery federal budget. So today we’ve chosen to focus on just a few key budget announcements we feel may help SMEs manage finance and debt in the years…...
Read More
, , , , ,

Single parents and first home buyers get big budget boost

Single parents saving for a property and first home buyers are the big winners from this year’s federal budget. Today we’ll break down the three schemes that will help them crack the property market sooner. In recent months there have been signs that first home buyers are beginning to shy away from the property market, as investors return in big numbers to take advantage of optimistic property market price outlooks. So this year’s federal budget focussed on giving first home…...
Read More
, , , , , , , ,

Has the housing market’s latest record-breaking run peaked?

Property prices climbed at a breathtaking pace in early 2021, which has been good news for homeowners and heartbreaking for house hunters. However, there are seven key signs that the pace of capital gains has peaked, says CoreLogic. Now, it’s important to note that CoreLogic is not suggesting that housing values are about to dip. Far from it. Rather, CoreLogic believes the housing market is “moving through a peak rate of growth and the pace of capital gains will gradually…...
Read More
, , , ,

Business demand for equipment has hit record numbers

Businesses across the country are purchasing new equipment and vehicles in record numbers, as companies big and small embrace the strongest market conditions seen in years, according to NAB data. And with the end of the financial year approaching quickly, we’re expecting demand for equipment and vehicles to remain strong, with businesses looking to invest in their future by taking advantage of the federal government’s temporary full expensing rules (more on that below). NAB believes the demand for new equipment…...
Read More
, , , , , ,

COVID-19 repayment amnesty over: how to avoid a bad credit rating

The COVID-19 loan deferral program and credit reporting amnesty is now over, which means banks will report any late repayments on mortgage or small business loans to credit agencies unless you’ve entered into a hardship arrangement. The banks’ mortgage deferral program and subsequent credit score reporting amnesty officially ended on April 1. The package was created during the peak of COVID-19 to provide loan repayment relief for almost one million home and business loan borrowers facing financial hardship. Luckily, many…...
Read More
, , , , , , , , ,

Fixed mortgage rates set to rise in coming months: experts

House prices could jump 17% in 2021 and mortgage rates are set to rise much sooner than expected, ANZ Bank has tipped. How much earlier than expected? Well, the Reserve Bank has repeatedly said the official cash rate isn’t likely to increase for a few years, but ANZ senior economist Felicity Emmett believes fixed-mortgage rates have already reached their lowest point, or close to it. In recent times, more than 30% of new loans have been at fixed rates, says…...
Read More
, , , , , , ,

Free new mental health support service for small business owners

Floods, fire and pandemic - it’s been an incredibly tough 15 months for many Australian businesses. And with government support about to end, looking after your mental health will be just as important as taking care of your business’s financial health. With the federal government’s COVID-19 JobKeeper wage subsidy scheme expiring on 28 March, experts are tipping as many as a quarter of a million jobs could be lost. When you also consider that rental eviction moratoriums are coming to…...
Read More
, , , , , ,

$15,000 HomeBuilder grant deadline fast approaching

Thinking of building, buying a new home or renovating? The HomeBuilder scheme ends on March 31, which means you’ve got less than two weeks to take advantage of the $15,000 grant. The Australian government scheme, which was initially due to end in December but was extended to 31 March, has led to a big spike in new home sales in recent months. And experts are tipping HomeBuilder applications will continue to rise before the impending cut-off date. “We expect a…...
Read More
, , , , , , , ,

Boom time: Australian home values surging at fastest pace in 17 years

It’s official: Australia’s housing market is in the midst of a broad-based boom, with the national home value surging 2.1% higher in February; the largest month-on-month change since 2003. We haven’t seen this kind of fast-paced growth since Guy Sebastian robbed Nollsie to win Australian Idol, Roger Federer won his first of 20 grand slams (against the Scud at Wimbledon), and people primarily used their mobile phones to make calls (well, and play Snake). The February surge, which was recorded…...
Read More