The Government called it a “victory for Australian families” when mortgage exit fees were abolished on all new home loans since 1st of July 2011 as a measure to promote competition in the banking system. The smaller lenders will now compete vigorously by offering cheaper interest rates, and the pressure will keep the rates low at the big banks so... Read more
Does your business borrow or lend money? Purchase or sell goods on agreement, consignment or credit? Grow crops or raise livestock? Own or lease machinery or vehicles? If so, then the upcoming Personal Property Securities Reform will likely affect you. Currently there are numerous stand-alone State and Commonwealth registers of security interests for example the Register of Encumbered Vehicles (REVS),... Read more
Recently reading a copy of Jane Eyre, when she was asked where the wicked go after death, Jane replied ‘They go to hell’. When asked what should be done to avoid hell, Jane answered ‘I must keep in good health, and not die.’ But of course the grim reaper comes to us all eventually and when he does, that other... Read more
Many of the large banks offer the services of a personal banker, otherwise known as a private banker or relationship manager. Supposedly if you have a personal banker you get preferential treatment, special access to advisors and the best solutions offered to you. You’d also expect that you’re being offered the best rates on your deposits and loans. In this... Read more
The most common thing we get asked about by people in their 20′s is the share market. With so many students doing business subjects all through high school and university, it is amazing that so few are taught the basics of how to start their own share portfolio. Unless you have an experienced friend, relative or a trusted family adviser... Read more
From 1st July 2012 the private health insurance rebate will be income tested, and there are changes to the Medicare levy. Full details can be viewed at the Department of Health and Ageing site. The changes will operate as follows from 1 July 2012: Unchanged Tier 1 Tier 2 Tier 3 Singles Families ≤ $84,000 ≤ $168,000 $84,001-97,000 $168,001-194,000 $97,001-130,000... Read more
We often hear that our ‘Australian’ future may well be made in China. As part of our commitment to remain up-to-date with our advice to clients we recently sought a briefing from experts on one of the burning topics of global investments; China and its impact on the Australian Economy. Here we provide a short overview of the experts’ insights.... Read more
The federal budget has been handed down and the promise of a return to surplus delivered. Here in this issue of On Balance, we highlight some budget changes that are likely to be of particular interest to many of our clients. Spending Cuts Significantly major cuts have been made to defence spending, overseas aid and the 1% reduction of the... Read more
We’ve recently had several property investors come to us with an assumption that their investment properties constructed prior to 1984 will not allow any significant depreciation for the cost of construction. This is not entirely correct and we fear there are too many investment property owners failing to obtain all the benefits of the allowable deductions for their property. Consider... Read more
The current best deal that we can source for our clients is overdraft finance at 6.70% and only one annual fee, if the loan is secured against an owner occupied home. As this is a new loan product, most businesses are still unnecessarily paying upwards of 11% (with a default rate of at least 16%). It is critical for businesses... Read more