NEWS UPDATE
NEWS UPDATE
Key points The RBA remains in wait and assess mode The RBA’s decision to leave rates on hold at 4.35% was no surprise. This followed a decision to leave rates on hold in June after three consecutive rate hikes earlier this year. The RBA revised…
The Reserve Bank has left the door open to more interest rate hikes as it held the benchmark lending rate steady for a second straight meeting. Falling house prices and lower-than-expected inflation helped convince the central bank’s nine-member monetary policy board to leave the cash…
Mortgage holders may have been spared more rate pain by the Reserve Bank but Australia’s chronically weak productivity growth means households will continue to suffer. As the RBA board held interest rates steady for a second-straight meeting, it noted that it could do so because…
At 60, retirement no longer feels like a distant event. It is close enough to imagine the lifestyle I want, the experiences I hope to enjoy and the financial decisions that will shape the years ahead. Looking back to when I first started work, superannuation…
Tax planning is not simply about finding deductions at the end of the financial year. Effective planning helps business owners understand their position, prepare for upcoming obligations and make informed decisions about cash flow, investment and growth. Regular conversations with your accountant can also help…
If there’s anything people learned from the recessions and global crises of recent past, it’s that no one is immune to economic upheavals. Even middle to upper-class families are at the mercy of their finances when misfortune strikes. This can come in the form of…
Surprise inflation data, which came in lower than expected and below the central bank’s own forecasts, was due to softer fuel prices, according to the RBA’s chief economist. Figures released on Wednesday revealed headline inflation for June fell from four per cent to 3.8 per…
The government is moving to fix its so-called “widow’s tax” following criticism its tax reforms denied Australians who inherited an investment property from their partner access to negative gearing concessions. The fix is part of a raft of the federal government’s proposed changes to controversial…
Australian households show no sign of pulling back on spending despite the Middle East conflict exacerbating cost-of-living concerns. Strong growth in electric vehicle purchases and a bounce back in air travel drove a surprisingly strong 0.8 per cent increase in household spending in June, according…
Investing in shares can be an effective way to build long-term wealth, but it also brings tax obligations that every investor should understand. Whether you own a handful of shares or a diversified investment portfolio, keeping accurate records and working closely with your accountant can…
Key points Introduction The pursuit of happiness is at the centre of our existence. Along with life and liberty it’s even a central idea upon which the US was founded. And rightly so because happiness is good for us – happy people live longer, are…
Falling inflation levels have defied Reserve Bank predictions, alleviating fears another interest-rate hike is imminent. The latest Australian Bureau of Statistics data showed headline annual inflation falling to 3.8 per cent in June, down from four per cent a month earlier. The figure is the…
Labor has backed superannuation payments for Australia’s youngest workers, regardless of the number of hours they work. The party says it will “ensure that all workers, including those under 18 and regardless of how they are engaged, can accumulate superannuation on every dollar earned”. The…
Systemic shoddy record-keeping at big banks is risking the savings of Australians trying to benefit from a safe investment strategy. The financial regulator issued the warning around mortgage offset accounts, which are marketed to borrowers as a way to whittle down mortgages and cut interest…
Australia’s fuel security could soon be bolstered by a new refinery, but questions have been raised about the business case for the facility. Prime Minister Anthony Albanese announced plans to look into building Australia’s third oil refinery in WA, with $4 million set aside for…
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Joel Plowman’s Financial Services Guide Part 2
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Rod Harper Financial Services Guide Part 2
Mark Trajkovski Financial Services Guide Part 2