MortgageWorks

Got your eye on a luxury car that’ll make your mates jealous? Or perhaps something that’s a little more fuel-efficient and environmentally friendly? Today we’ll run you through a new tax change that could help you buy something a little more la-de-da. Have you heard about the luxury car tax (LCT) threshold? Basically, if you …

The tax on luxury cars just got a little cheaper Read More »

Single Australians under 30 snare the lion’s share of spots in the federal government’s 5% deposit first home buyer scheme, according to new data. Here’s how to secure one of the highly coveted 35,000 scheme spots released on July 1. Long gone are the days when you had to scrimp and save for a 20% …

Single and under 30? You’re a great fit for the 5% deposit scheme Read More »

The Reserve Bank of Australia (RBA) has increased the official cash rate by another 50 basis points to 1.35% amid continuing inflation pressures. How much will this third consecutive rate hike increase your monthly mortgage repayments? At the beginning of May, the cash rate was 0.10%. Today, it was increased by the RBA to 1.35% …

RBA lifts cash rate for the third month in a row to 1.35% Read More »

With interest rates on the way back up, there’s no doubt some households around the country are starting to do it a bit tough. Coincidentally, some big changes kick in on July 1 when it comes to recording financial hardship arrangements. In the past, if you were unable to meet your loan repayments, you could …

Financial hardship arrangement reporting is about to change Read More »

We’re just days away from 35,000 first home buyer scheme spots becoming available on July 1. If you’re keen to snare a place in the scheme – and buy your first home sooner – here’s how to get ahead of the pack. Have you heard about the federal government’s Home Guarantee Scheme? (previously called the …

Want a first home buyer scheme spot? Here’s how to get the inside lane Read More »

Tax time is just around the corner and the ATO has sent out a warning to businesses around the country that owe it money: the COVID-19 moratorium on debt collection has come to an end. Rest assured though, you’ve got some options. During the early days of the pandemic, the ATO says it deliberately shifted …

No more Mr Nice Guy: the ATO wants its money Read More »

Rising interest rates got you feeling a little vulnerable? It might be time to take some control back by refinancing or asking for a rate review. Here’s why we’re seeing refinancing numbers surge across the country. In just two months we’ve seen the Reserve Bank of Australia (RBA) increase the cash rate from a record-low …

Refinancing numbers are surging across the country, here’s why Read More »

The Reserve Bank of Australia (RBA) has increased the official cash rate by 50 basis points to 0.85%. How much extra should you expect to pay on your home loan? Today’s cash rate hike is the second in as many months, with the RBA last month increasing the official cash rate from a record-low 0.10% …

RBA increases cash rate for second consecutive month, to 0.85% Read More »

Some of Australia’s biggest banks have tightened their mortgage lending criteria, meaning you might not be able to borrow as much from them. How might this affect your next purchase? This week ANZ lowered a key lending cap, indicating it will no longer lend to borrowers with a debt-to-income (DTI) ratio above 7.5 (meaning people …

Banks tighten lending, reducing the maximum you can borrow Read More »

Small businesses around the nation are once again confident about their future and ready to start driving toward their next phase of growth, according to new research. The research, carried out by small business lender Prospa, found that 81% of Aussie SMEs expect their businesses to grow over the next 12 months. This is despite 87% …

Bulk of SMEs preparing for growth over next 12 months: research Read More »