A startling in 5 Australians have zero savings for any kind of a day – rainy or not. More than 2 million Australians surveyed say they would need to borrow within a week if they experienced a sudden drop in income. Building up adequate savings is one of the main financial goals for one in four Australians
Premises have 18 months to switch over from their legacy copper services to the nbn network. We have a carefully managed disconnection process in place with Telstra that ensures no one is left without a connection who doesn’t want one. NBN Co sends up to five reminder letters to premises in ‘ready for
Tax cuts do stimulate economic growth. Be it company or income taxes that are cut, the impact on economic growth will be positive, at least in the short run. When the government decides to cut taxes by, say, $1 billion a year, there is a simple transfer of $1 billion cash from the government sector
As more Australians sign up for the NBN complaints are also on the rise – more than doubling last year to 27,000. The latest figures suggest service providers are struggling. NBN Co says wholesaler and retailers have to do better in 2018.
Australia, one of the world’s biggest users of rooftop solar panels, likely added the most new capacity on record last year as electricity users sought to ease escalating power bills. A preliminary estimate by Australia’s Clean Energy Regulator of 1.05 gigawatts installed last year would be a record
It’s as basic as it gets, but if you look at charts of some of the world’s major stock indices… well, it’s pretty scary. What we know about financial markets is that they go up and down. Since the financial crisis, interest rates around the world, including Australia have been super low.
As per usual, our major news outlets are pedaling beware of recession and market-collapse stories while ignoring the fact that there is a lot of good news around that should make us positive for 2018. After hearing and reading about a World Bank story in the press that brought warnings about the global
Do you have post-Christmas blues after splurging during the festive season? New estimates show the nation whacked a whopping $29 billion on credit cards in December – equivalent to over $1,700 per card. Four out of five credit card holders say they will pay off their holiday debt in three months or
My wife and I managed to raise a pretty substantial deposit, so walking into the process I naturally assumed that I could work out our borrowing capacity from the size of our deposit. This is because I’d forgotten to account for two important expenses: stamp duty and lenders mortgage insurance.
Liar loan applications constituted alarmingly high volume in the second half of 2017 loan application, according to analysis of by the online property lender Tic:Toc Home Loans. Analysis of the applications revealed about 20 per cent overstated their income, typically by around 30 per cent. Some 50
Australia’s international trade position is getting markedly worse. The bad news is that exports are falling, despite a strong global economy and some strength in commodity prices. At the same time, imports have picked up partly because of the overvalued level of the Australian dollar and partly because
It’s time to draw a line in the sand for so-called market experts like yours truly. My line in the sand is a bold one that will cause me a few concerns this year but hell, someone like me has to have the guts to make a call on important questions such as: “Should I stay long stocks in 2018?”
2018 is kicking off with the share market trading at its highest level in almost a decade and the housing market starting to weaken, with prices falling in Sydney, Perth, Darwin and Melbourne, and flat-lining or slowing in Adelaide, Brisbane and Canberra. House prices in Hobart are the only shining
With the arrival of the new year, and an extended summer break about to get under way for many people, now is a great time to take stock of your financial affairs, look to the year ahead and put a plan in place to improve your budgeting and financial planning. It might seem a little early to worrying
Of course, this is reference to the famed Santa Claus rally that usually emanates out of Wall Street and then the Christmas cheer is spread from stock market to stock market. If the tax bill had been rejected, we could have been looking at a 10% stock market slump! Santa has been busy down under!
2017 saw some significant changes in our property markets. Foreign investment slowed down as we took away the welcome mat by raising stamp duty, hiking land land tax and adding other disincentives. APRA slowed down investment lending by making the banks tighten their serviceability criteria and restricting
The apartment that has rightful claims of being Sydney’s number 1 address has quietly become available for sale. It is the apartment on the tip of the top floor of 1 Macquarie Street, the closest home to the Opera House anyone can buy. The apartment was long owned by the Moran family of Moran Health
Recent research shows that 36% of the adult Australian population own investments listed on the stock market. That’s nearly 6.5 million investors, some investing as individuals and some investing through Self- Managed Super Funds (SMSFs). Millions more own shares in privately owned companies, often
The day after Australia registered a pretty good economic growth number, the press didn’t want to believe in it, instead preferring to worry about a poor consumer spending number for the September quarter. This revelation came out one day after we learnt that in October, retail rebounded to such an
Despite all the spin and torture of the data, government debt is still rising, the return to budget surplus is based on fickle economic forecasts and the Turnbull government is on track to be one of the top 10 taxing governments in Australia’s history. Gross government debt is already at a record at
Singaporean businessman CK Ow has offloaded his Vaucluse harbourfront mansion but the unconfirmed $67 million sale price fell short of his hopes of bettering Sydney’s $71 million record price. The price gain, before costs, reflected 10 percent annual price growth at around $18,000 per sqm. Mr Ow, chairman
Q. I’m in my 20s and find it difficult to save enough of a deposit to buy a property in my home city of Sydney unless I go out to the outer suburbs, which are a long way from my work and my social group. A. The Government now allows someone who has never bought a property before to use up to $30,000
Well you’ll be in good company because around half the respondents of a recent survey plan to buy another investment property in the next 12 months, and 23% are planning to buy a new home. This is despite the fact that 64% of respondents believe that property prices will remain flat, or increase by