Restrictions on Interest Only Loans for Investors – How Does This Affect You?
Investors are facing a tough time with lenders at the moment as investment loans are becoming more restricted. In March, the Australian Prudential Regulation Authority (APRA) wrote to lenders, instructing them to keep new interest-only loans to just 30 per cent of their total home loans portfolio. This is to limit the volume of higher […]
Positive Credit Reporting and How it Can Affect You
Positive Credit Reporting, also known as Comprehensive Credit Reporting, is the method Australian lenders are currently using to assess a potential borrower’s credit history when processing a loan application. Lenders share this credit data with credit bureaus, who make this data available to other potential lenders to help those lenders determine the risk of lending […]
How to Teach Your Kids About Money
We all want our kids to be financially better off than we are, but how do we do this? Taking the time to teach your kids about money and starting early is the key. Here’s how… The initial introduction Learning the basics of commerce and money handling is built from experiences like going to the […]
New Tax of 12.5% on Property Sales $750,000 and Over – What You Need to Know
The 1st of July, 2017 saw the implementation of a new 12.5% tax on property sales of $750,000 or more issued by the ATO if sellers cannot prove that they are an Australian resident. The new policy intends to ensure foreign property owners do not avoid capital gains or other tax liabilities. While this law […]
Tax Time Checklist for Investment Property Owners
Wow, it’s June 30 already! This year has flown by and that means tax season is upon us, which can cause some stress for all of us, including property investors. However, it’s also a great time to claim back a few investment related expenses incurred throughout the financial year. To help you out, here are […]