A dozen Reserve Bank interest rate rises since May 2022 have hurt borrowers, but some increase their pain through misguided loyalty. The chances of another rate hike by the RBA have essentially “doubled” after May’s unemployment rate dropped to 3.6 per cent, says CommSec’s Tom Piotrowski. The combined hit on household budgets from remaining with … [Read more…]
Where you live is linked to how much super you have with the nation’s $3.5 trillion of superannuation not evenly spread. See what your city or town averages. A new analysis by the Association of Superannuation Funds of Australia has unveiled the locations of the biggest average super account balances, and the winners may surprise … [Read more…]
A dozen RBA interest rate rises and surging living costs are prompting people to take drastic measures to pay their bills. The Reserve Bank of Australia has raised the cash rate by 0.25 per cent, bringing the new rate to 4.10 per cent. This latest hike marks the 12th in just over a year. New … [Read more…]
AI’s rapid evolution is capturing investors’ imaginations and will benefit many businesses, but others will die in the crossfire. The government says the debate around regulating AI needs the “broadest possible” involvement from the broadest possible segments of the community, from tech figures to the general public. “Technology does need to work for us,” said … [Read more…]
Many landlords fail to take full advantage of one key property tax deduction, and now is the time to wheel it out. House prices in Sydney are leading a national recovery as the average home value grows by 1.2 per cent in May. Property prices in Sydney grew by the highest margin since September 2021, … [Read more…]
Running out of money in retirement is an increasingly common fear among Australians, but there are ways to combat it. Former NSW Liberal leader Kerry Chikarovski says changes to negative gearing would affect a “very broad” group of Australians rather than just the wealthy. “People seem to think that negative gearing is the gift to … [Read more…]
A family of five can receive more than $60,000 a year from JobSeeker and other benefits, and governments walk a fine line when deciding payment increases. Social Services Minister Amanda Rishworth recently “bagged” Peter Dutton’s budget reply idea to raise the amount you can earn without your JobSeeker payment being cut, says Sky News Political … [Read more…]
Millions of taxpayers will see their tax refunds shrink by up to $1500 this year, as the ATO sharpens its focus on dodgy claims in three key areas. Sky News Business Editor Ross Greenwood says the Australian Taxation Office has announced a change in the way Australians can claim. ATO assistant commissioner Tim Loh told … [Read more…]