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Reasons to Refinance Your Home Loan

First up, what is refinancing? Refinancing your home loan means changing your existing loan for a new one and in most cases, with a new bank. The two main reasons people look to refinance their home loans are either to get a better rate or to increase their existing loan to withdraw some home equity. […]

What is Loan To Value Ratio(LVR)

LVR stands for Loan to Value Ratio and is the amount of money you borrow for a home loan compared to the value of the property and expressed as a percentage. Lenders use this calculation to determine the risk factor of the home loan. You can find this out by dividing the amount you’ll need […]

Federal Budget 2019 -Tax Refund On Spot

Australia’s 2019 Federal Budget has been unveiled. The key features of this year’s Budget were tax cuts and infrastructure spending with the theme of “A stronger economy and a secure future. Here is the people who will get benefit from federal budget 2019 are: Succeeding generations – The budget predict a return to surplus of $7.1 billion by 2019-20, after […]

Centrelink Parental Income - Tax Refund On Spot

The main income support payment while you’re a young child’s main carer. Only an Australian citizen, a permanent residence visa holder or a protected special Category visa holder are eligible for parental income.   Who is eligible? · 1. have income under the limits · 2. meet principal carer rules and care for a child […]

Easy Income Easy Go

If you tax is a little high this year and you can beat the June 30th deadline you could boost your Refund for the year with Wage Protection Insurance Premiums to be claimed, and if you’re expecting a Tax Bill this year, maybe you should look to prepay yours. Possibly your greatest financial asset is […]

Are You Getting Government Assistance?

Through Centrelink, the government provides financial and other assistance to people under a variety of programs. Some common payments you may have heard of are austudy, Newstart, youth allowance, parenting payment (single) and CDEP, the Community development employment program (one of the largest Indigenous programs in Australia). Depending on your circumstances you may be entitled […]

Approaches to Use Your Tax Refund

The end of the financial year implies that numerous Australians will get themselves a couple of thousand dollars wealthier on account of a tax refund. As indicated by the ATO, 77% of taxpayers got an expense form in the 2013/14 money related year with a normal refund amount of $3,630. A tax refund can give […]

Deceased Estate and Capital Gain Tax

Treatment of Property after Owner dies When a person dies, the assets that make up their estate can: pass straight to a beneficiary (or beneficiaries), or pass straight to their legal personal representative (for example, their executor) who may dispose of the assets or pass them to the recipient, or beneficiary. A beneficiary is a […]

Home Office Expense and Running Cost

You may be entitled to claim deductions for home expenses including a computer, phone or other electronic devices you are required to use for work purposes, as well as a deduction for running costs. As an employee, generally you can’t claim a deduction for occupancy expenses, including rent, mortgage interest, council rates and house insurance […]

Leaving the Workforce

For people who are retiring, there are a variety of options for making the change. Under the change to retirement rules, if you have reached your preservation age you may be capable to decrease your working hours without reducing your income. You can do this by topping up your part-time income with a regular ‘income […]

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