Important Message

You should be on the look out for an email with the Subject: Your tax refund is here 

The email makes reference to a miscalculated tax refund which can be claimed by applying online. The email contains a link to a website that is an exact replica of the ATO website, and also includes links to websites which are replicas of major banking institutes.

These websites are known as PHISHING websites, intended to capture personal information that is entered by the end user.

It is recommended that emails of this nature are deleted immediately, and the websites/links NOT accessed.

If you are expecting information from the tax office we urge you to contact the ATO via their official channels and NOT by clicking on an email link.

Visit the official ATO at http://www.ato.gov.au

Many predicted that interest rates would be on the move in October, although some had held their prediction back to November, and sure enough… interest rates rose today by 0.25% from 3% to 3.25%.  In a statement issued today, Reserve Bank Governor Glenn Stevens cited lower unemployment and solid housing credit growth as among the reasons for the increase. He said the “risk of serious economic contraction in Australia [had] now passed”. (more…)

Fixed rates are generally a good indicator of which way the banks are thinking interest rates will move in the future, since banks have to set their rates to make some sort of profit during the course of a fixed rate period.  Interestingly, we’re now seeing majority of banks hiking fixed rates up, under the radar. (more…)

If you asked me how you can increase your personal wealth in times of recession, and you might expect me to give you some elaborate investment scheme, or invite you along to a seminar series that will teach you about developing property or building your property portfolio, or renting shares or trading futures options, etc but the reality is there is a much easier way.  It’s not as sexy as the things I described above, in fact it doesn’t really mean you have to change anything you’re doing already. (more…)

Yes! The RBA has decided for the fourth consecutive month to cut interest rates, this time by another massive cut of 100 basis points (1%). For First Home Owners this is sensational news, making property ownership much more affordable than it has been in recent times. For investors it is also welcome news and should see a flood of investors moving back into property. For those on fixed rates, however, it’s yet another kick in the pants! (more…)

I’ve had a few enquiries over the last few days about the changes to the First Home Owner’s Grant and whether some of my clients are eligible for the increased amounts. Having read the media release put out by the Government and after an extended period on hold with the Office of State Revenue, I have some answers. (more…)

While many are enjoying a small amount of respite from lenders after rate reductions, I would urge you to keep up your former repayments if you can. Even on a fixed rate you are allowed to make a certain amount of additional repayments. This small amount, just $10 a week for the average mortgage, can make a significant dent in your mortgage over time, and save you a bucket load of interest and a number of years paying it off.

I always suggest (more…)

RBA Governor Glenn Stevens yesterday fronted the House of Representatives and gave his opinion on the future of the Australian economy. He hinted at further rate cuts and suggested, as many pundits have been saying in the last month or so, that we are currently setting the stage for strong growth in two to four years time. So what does this mean for you? (more…)

The RBA today decided to cut interest rates by 0.25% (25bps). It was expected, as posted this morning, and means an extra $10 a week in the pocket on those with the average $250,000 mortgage. It won’t re-light the fire of property investing by itself, but coupled with further expected rate cuts later this year and early next year, it could be the beginnings of another surge into the IP fray.

If you’d like to discuss your options, or even get yourself a Home Loan Health Check, then contact your Duckling FInance consultant today!

In the last couple of weeks there has been a lot of confusion with many people I have talked to about the differences and similarities between Lines of Credit (LOC) and Offset accounts. In particular, the discussions have centred around when the interest on a loan is and isn’t tax deductible, and the impact of (more…)