What you should know about the ‘fixed-rate cliff’…
Australia’s mortgage market is experiencing a significant shift, with many homeowners coming off two-year and three-year fixed-rate loans onto much higher variable rates today. Starting during the 2020 pandemic, there was a boom in fixed-rate borrowing, as lenders slashed their fixed rates to record-low levels and many borrowers took advantage. At the peak, almost 40% […]
Govt announces ‘appropriate safegaurds’ coming to BNPL sector…
Govt announces ‘appropriate safegaurds’ coming to BNPL sector… The federal government will change the law so buy-now-pay-later (BNPL) products are regulated as credit products, like home loans. The reason BNPL services are regulated differently is because, technically, they’re not a form of credit, as consumers are not charged interest. However, as Minister for Financial Services […]
Consumers warned about tax scams
Consumers have been warned to expect heightened scam activity and new tax scams now that tax season is almost upon us. The Australian Taxation Office (ATO) received about 20,000 scam reports in the first 11 months of the 2022-23 financial year, according to Minister for Financial Services Stephen Jones. Minister Jones said impersonation scams – […]
ATO reminds property investors to take care with their tax returns…
The Australian Taxation Office (ATO) has revealed it will have three key focus areas this tax time – one of which will be deductions claimed by property investors. The reason property investors are being targeted is because an ATO review found nine in ten property investors were filing faulty tax returns. Common errors included: As […]
