Posted in Mortgages and Finance
Posted by Dean McKinnon
on 21 March 2024
Commencing 2024 FY through 2026 FY, the ATO will demand comprehensive data records from rental property bond authorities and novated lease companies:
The ATO want to use the data obtained to match against taxpayer records and make sure all applicable tax is being paid
ATO Rental Bond Data Matching
ATO Novated Lease Data Matching
Included in the data obtained from the rental bond authorities will be the rental payments
If the rental payments don't match the income decla...
Posted by G. Dean McKinnon
on 11 March 2022
Many home loan lenders are now actively seeking new business and they are willing to pay for it.
Some lenders will offer up to $4000 cashback paid to the borrower if they switch their home loan. The borrower can use this money for whatever purpose they deem fit.
The new home loan lender may also have low upfront costs as well (some don't even have an Application Fee), so the whole process may be very quick and easy and cost-effective. But make sure you check the home loan details ...
Posted by G. Dean McKinnon
on 28 February 2022
It is increasingly difficult to save enough money for your first home purchase but there are some ways the government can help, such as First Home Super Saver ('FHSS') scheme.
The FHSS scheme allows you to save for your deposit within your superannuation investment account. There are several key benefits to using your super as the saving structure but the ability to withdraw personal Concessional Contributions may provide a significant tax planning advantage.
Personal Concessi...
Posted by G. Dean McKinnon
on 17 November 2020
Increasingly, the threat from criminals stealing your identity to arrange credit in your name has become a significant problem.
In the high-tech world we now live in, it is virtually impossible not to have your identity exposed to the possibility that it may be stolen and used by criminals.
Most of us now complete our everyday transactions via the Internet using our credit card and other details. Even the government now requires you to use their services online, including providin...
Posted by Dean McKinnon
on 16 November 2019
One of the biggest hurdles for first home buyers is being able to save the deposit BUT also being able to afford the mortgage insurance. Now the government has provided a solution for that problem.
From 1 January 2020 the federal government is introducing their First Home Loan Deposit Scheme to help first home buyers purchase their first home. Effectively the government will guarantee to the mortgage provider up to 15% of the property purchase price. Previously this guarantee would have b...