ATO property investment crackdown

ATO crackdown on property investors

- July 1, 2022 2 MIN READ

Around 8 per cent of Australians own an investment property and this year the ATO will be paying close attention to rental income, deductions, and capital gains. So a couple of housekeeping tasks as we close the financial year. These will make sure you get things right and don’t attract the taxman’s ire. 1. Keep good… Read more »

Here's how to avoid the fixed term loans cliff

Don’t fall off the fixed term loans cliff

- June 17, 2022 5 MIN READ

Those on a fixed-rate mortgage could be in for a huge shock when their fixed term ends. RateCity analysis of the big four bank half-year results and APRA loan book data show approximately 38 per cent of home loans are currently fixed, in dollar terms, with the peak of people coming off their fixed rates… Read more »

RBA credibility

The RBA has started to rebuild its credibility

- June 10, 2022 3 MIN READ

This week the Reserve Bank (RBA) started to rebuild its credibility and get ahead of the inflation curve by lifting official interest rates by a higher than expected 0.5 per cent to 0.85 per cent… the biggest rate hike in 22 years. It follows well behind similar rate rises by Central Banks in the UK,… Read more »

Help to Buy scheme - this is what it means for you

A quick rundown of the new Help to Buy scheme

- May 27, 2022 2 MIN READ

The Labor Government’s new Help to Buy scheme will be open to 10,000 Australians each financial year. Under the scheme, you can access an equity contribution of up to 40 per cent of the purchase price of a new home and up to 30 per cent of the purchase price for an existing home. The… Read more »

What's on the ATO hit list this financial year

What’s on this year’s ATO hit list?

- May 20, 2022 2 MIN READ

You know it’s tax time when the Australian Tax Office releases its annual ATO hit list of the areas they are targeting for special attention. This year the ATO hit list is focused on: record-keeping; work-related expenses;  rental property income and deductions; and capital gains from crypto assets, property, and shares. “The ATO is targeting… Read more »

Enough with the hysterical coverage about interest rates

Enough with the hysterical coverage about interest rates

- May 6, 2022 4 MIN READ

Let’s go through the facts and disprove some of the mistruths currently being sprouted by the media and politicians about interest rates. Yes, the Reserve Bank surprised everyone by raising official interest rates 0.25 per cent (instead of the expected 0.15 per cent) to 0.35 per cent. Yes, home loan monthly repayments will rise almost… Read more »

ATO tax scam warning

Warning from the ATO about a rampant tax scam

- April 29, 2022 2 MIN READ

There’s a new tax scam to be vigilant about and it’s a super easy one to fall for. The Australian Taxation Office (ATO) is urging taxpayers to be vigilant following an increase in reports of fake websites offering to provide tax file numbers (TFN) and Australian business numbers (ABN) for a fee, but failing to… Read more »