Fidget

General news

Albanese government sets ambitious homebuilding target

The federal government has increased its housing construction target, in a bid to increase supply and improve affordability. Prime Minister Anthony Albanese, after meeting with the National Cabinet recently, announced a new national target to build 1.2 million well‑located new homes over five years, from 1 July 2024. That replaces the original target of 1 …

Albanese government sets ambitious homebuilding target Read More »

“No solution on horizon” for tight rental market

Property investors in much of Australia are enjoying very low vacancy rates – and one leading property researcher has forecast that is unlikely to change anytime soon.   The national vacancy rate in July was just 1.3%, according to SQM Research, which means there are very few untenanted rental properties right now. That makes it …

“No solution on horizon” for tight rental market Read More »

Refinancing jumps 12.2% year on year

“Refinancing activity has remained at record highs in recent months, as borrowers continued to switch lenders amid interest rate rises,” according to the Australian Bureau of Statistics (ABS).   Owner-occupiers and investors refinanced a combined $20.2 billion of loans with external lenders in June, the ABS reported. While that was 3.1% lower than the month …

Refinancing jumps 12.2% year on year Read More »

Lenders have not passed on all of the RBA’s rate hikes

Despite the interest rate rises that have occurred since last year, rates are lower than one would expect due to “strong competition between lenders”, according to the Reserve Bank.   Between May 2022 and June 2023, the cash rate increased by 4.00 percentage points. But during that same period, the average interest rate for outstanding …

Lenders have not passed on all of the RBA’s rate hikes Read More »

Existing HomeBuilder recipients given two year reprieve

The deadline for existing HomeBuilder applicants to submit supporting documentation has been officially extended to 30 June 2025.   The deadline was previously set at 30 April 2023, but, in March, the federal government proposed to extend it, subject to the agreement of states and territories – which has now been secured.   This extension applies only …

Existing HomeBuilder recipients given two year reprieve Read More »

RBA set to change how it sets and communicates cash rate

The Reserve Bank of Australia (RBA) has unveiled a series of reforms, in response to an independent review commissioned by the federal government.   Starting in 2024, the RBA board will meet eight times per year to assess the cash rate, rather than the current 11. Meetings will last longer; and, before each meeting, board …

RBA set to change how it sets and communicates cash rate Read More »

Use digital self-help tools to answer tax queries: ATO

If you’re feeling confused about preparing your tax return, the Australian Taxation Office (ATO) has advised you to seek help from its digital self-help tools.   “We get lots of calls from the community about topics that can be easily resolved through our digital self-help tools, so it may be better to not wait in …

Use digital self-help tools to answer tax queries: ATO Read More »

Scroll to Top
<