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Best Aussie suburbs to find a renovator’s dream

Most of us have at one time dreamed of discovering a hidden little gem and renovating it into the most enviable house on the street. With the $25,000 HomeBuilder grant, those dreams are closer to becoming a reality for many. But where to look? Well, recent realestate.com.au data might have revealed the answer. They’ve analysed all the listings in their database for keywords such as “renovate”, “renovation” and “STCA” (subject to council approval), and then ranked each suburb on the…...
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You might be closer to your first home deposit than you think

You’ve probably heard the federal government is giving $25,000 grants to eligible Australians looking to build or substantially renovate their homes. Today we’ll look at what that means for first home buyers when combined with state and territory schemes. If you’ve been umming and ahhing about purchasing your first home for a while now, we have great news: you’d be hard-pressed to find a time when there were more government incentives to help you enter the property market. For starters,…...
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How the instant asset write-off applies to vehicles

Got your eye on a shiny new vehicle for your business thanks to the $150,000 instant asset write-off? We've got the answers to the FAQs many business owners are asking ahead of the looming EOFY deadline. Need a new van for that delivery service your business has started? Or perhaps your trusty old ute is now more ‘old’ than ‘trusty’. To help businesses with cash flow amidst the coronavirus pandemic, the federal government has increased the instant asset write-off threshold…...
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Is now a good time for first home buyers to get into the property market?

While potential homebuyers may have put their home buying plans on hold over the last few months due to the uncertainty of the coronavirus - with restrictions slowly easing and auctions starting to re-open - it begs the question, is now a good time to buy ? While the answer will very much depend on your individual situation and will take into account important factors such as financial stability and job security -  here we take a look at why…...
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What is the Coronavirus SME Loan Guarantee Scheme?

SME businesses in need of working capital due to the coronavirus outbreak can now access unsecured loans “more cheaply and more freely” than ordinary business loans. The initiative is part of the government’s $40 billion Coronavirus SME Loan Guarantee Scheme, which kicked off just before the Easter weekend. Because the government will guarantee 50% of the new loans, lenders can offer the loans “more cheaply and more freely” compared to ordinary business loans, says the Australian Banking Association. The loans…...
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Caviar and wine, anyone? What a court ruling means for you

Indulgences such as caviar, wagyu beef and the finest bottles of wine shouldn’t count against you when lenders assess your application for finance, a Federal Court judge has said. Ok, so maybe Federal Court Justice Nye Perram has a slightly different grocery list to the rest of us. But his recent judgement should be welcome news to potential borrowers who have splashed out on the odd luxury over the past six months and are worried that it would completely derail…...
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On the hunt for a new loan provider?

One in 10 consumers have switched credit products in the past year, according to new research, with Millennials and women in particular pouncing on offers from small banks, credit unions and building societies. The financial landscape is shifting. Over the past 12 months, 10% of consumers have switched credit providers, according to the Australian Consumer Credit Pulse 2019 report from Equifax, as once-loyal customers increasingly check out what lenders outside the Big Four banks have to offer. Is now a…...
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Time’s ticking: ATO to report overdue tax debts to credit agencies

Businesses that put off paying large tax bills for too long may soon find that the Australian Taxation Office (ATO) has notified credit reporting bureaus. The proposal is part of The Treasury Laws Amendment (2019 Tax Integrity and Other Measures No.1) Bill, which was recently introduced into parliament. The Bill will provide the ATO with the discretion to disclose to credit reporting bureaus when a business has a debt of $100,000 for 90 days or more. “This will reduce the unfair…...
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Planning ahead: RBA says expect long-term low interest rates

Good news for mortgage holders this week, with the RBA saying "it’s reasonable to expect an extended period of low interest rates". Figures released on Wednesday show that core inflation, the RBA's preferred measure, is currently at 1.4%. However, Reserve Bank of Australia (RBA) Governor Philip Lowe says it is highly unlikely the RBA will contemplate higher interest rates until it’s confident that inflation has returned to 2-3%. “Whether or not further monetary easing (aka further rate cuts) is needed,…...
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How criminals steal your identity to steal your money

Scams involving identity theft have cost Australians at least $16 million this year, and that figure is likely to be just the “tip of the iceberg”, says the Australian Competition and Consumer Commission (ACCC). Worryingly, four in every 10 Scamwatch reports so far in 2019 have involved an attempt to gain information or the actual loss of a victim’s information. "If you think scammers might have gained access to your personal information, even in a scam completely unrelated to your…...
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