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Aspiring home buyer’s borrowing capacity has been slashed by rising interest rates but could increase by up to $47,000, thanks to next week’s incoming stage 3 tax cuts. While this is great news for house hunter hopefuls, there may be some unintended consequences, including even higher property prices. These tax cuts have the potential to… Read more »
The power of interest rises on average Australian families is so much more devastating than it is in other countries. When our rates go up there is an immediate flow through to household budgets because the vast majority of home loans are variable. When official rates go up it immediately flows through to loans and… Read more »
I know there is always great local debate about changes in council zoning laws to allow construction of apartment complexes. Many people don’t want to see their suburb of traditional housing blocks changed into medium or high-density housing. But Ray White chief economist Nerida Conisbee makes a strong argument that we need to build more… Read more »
Over the last 40 years I reckon I’ve interviewed every Tax Commissioner at some stage. I’ve asked every single one of them what they think is the biggest mistake taxpayers make when it comes to challenging an ATO decision. The answer has always been the same: bad record keeping. The ATO doesn’t usually even have… Read more »
Leading into COVID we were on a world record-breaking run of consecutive quarters of positive economic growth. Since the lockdowns finished the Australian economy has been tough going. Economic growth figures out this week were ugly – up just 1 per cent for the quarter and just 1.1 per cent for the year. Remember, this… Read more »
To keep our economy ticking along, we need to attract the right type of migrants, support their arrival with infrastructure and welcome them with opportunities. I’ll be honest, I hate the politics of immigration and the hate it can create. Apart from our First Nations peoples we are a country built on migrants. Mine arrived… Read more »
More than a third of working Australians are planning on delaying retirement due to the rising cost of living. The intergenerational war has never been more heated as the Baby Boomer generation are accused of everything from inflating house prices, increasing inflation and living a privileged lifestyle they supposedly don’t deserve. And the accusers are… Read more »
No wonder companies like JB Hi-Fi, Baby Bunting and Super Retail Group are warning investors of a slowdown in sales. April retail trade figures were really weak – up just 0.1 per cent for the month, or half what economists were expecting. It follows a fall of 0.4 per cent in March, so there are… Read more »
They say money can’t buy you love – but sometimes it does help. More than three quarters of Australians say the rising cost of living has impacted their relationships or ability to socialise according to new research from Compare The Market. One in five people (23 per cent) said money issues had put a strain… Read more »
All this doom and gloom from the Treasurer annoys me. I know he wants us to stay in the bunker and not party with our spending to bring inflation down. However… Yes, the economy is fragile, but it’s not too bad. We’re still only one of nine countries with an AAA rating from all international… Read more »
