Finance

From 1st July 2015, the first home saver accounts scheme is abolished. All first home saver accounts will be treated like any other account held with a provider. Restrictions on withdrawals will be removed from 1 July 2015. You can withdraw and use the balance of your account however you like from this date. More information available from the ATO... Read more

The lending industry is responding to social changes in property buying. As prices continue to rise, first home-buyers are increasingly looking for novel ways to get started. Lenders have now established a class of home loan specifically for buying a property with friends. The new style of loan enables pooling of money with friends, or family, without the usual shared... Read more

Many retirees are living the asset-rich and cash-poor contradiction, for example living in a $2 million home in Sydney, while surviving on $400 per week from the Aged Pension. While some people will happily downsize from the family home in order to free up some cash for living expenses, this is not ideal in all cases. There is the cost... Read more

When you have found the right property and need a deposit to secure the purchase, a deposit guarantee may assist buyers whose funds are currently tied up. A deposit guarantee is a substitute for the cash deposit. The deposit guarantee is issued by a guarantor, for a fee based on its value and duration of cover. At the time of... Read more

Now while loan rate are low is a great time to pay off as much as you can on your loan. Skipping coffees and bringing lunch from home may save you hundreds of dollars per year, but getting a better deal on your loan could save you thousands. Give me a call to discuss and I’ll be able to instantly... Read more

There has been much talk in the media lately about fixed rates – particularly the 5 year fixed rate offered by CBA of 4.99%* which many other major banks subsequently matched. In an economy where changes in interest rates can never be reliably predicted, and where the major banks make changes independently of the RBA anyway, it can be tempting... Read more

Thanks to the diversity of our clients, we have the pleasure of arranging equipment finance for all sorts of businesses. From the specialised like a printer’s guillotine, a farmer’s tractor and an arborist’s mulcher to the more common including; passenger cars, light or heavy commercial vehicles, dental, medical or veterinary equipment, construction equipment, plant and machinery, computer technology. Whether you... Read more

At its meeting today the Reserve Bank Board announced interest rates would remain unchanged at the record low level of 2.5%. The last rate cut took place in August 2013. In their statement, the Board said “monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent... Read more

It is becoming increasingly popular to borrow to invest in real estate through a self-managed super fund. There are many clients for whom this strategy is beneficial, as long  as the financial plan addresses the limitations of this approach. Understand the restrictions: You’ll need to be very well read or well advised to ensure that you follow the strict rules... Read more

Under recent changes to the law, deposits can be deemed unclaimed (dormant accounts) if a transaction has not been made on an account for three years or more, down from seven years previously. Unclaimed funds are paid by banking institutions to ASIC, then the money is transferred to the Commonwealth of Australia Consolidated Revenue Fund. You can reclaim your money from... Read more