The stage is set for the RBA to leave the cash rate on hold next week, despite a rise to Australia’s annual inflation rate from 3.6 per cent to 3.8 per cent. While this is the first rise in annual inflation since December 2022, the result is in line with the RBA’s own forecasts, keeping…
Millions of Australians are hiding money away in bank accounts unknown to their family or partner, according to new research by Finder. The survey of 1,012 respondents revealed more than 1 in 10 (12%) – equivalent to 2.5 million people – currently have, or have had, a secret savings account. The research found 8% –…
What jobs in Australia pay really well? Well, the Australian Taxation Office (ATO) has just revealed the highest-paid jobs in the country, and once again, surgeons have claimed the top spot, earning an impressive average of $460,356. According to an article from Yahoo Finance, this figure only accounts for 4,170 workers in the country, but…
Foreign buyers are back in force with activity climbing 27%, according to the latest Foreign Buyer report. The Treasury has just released its latest data, detailing the activity of non-resident property purchasers across Australia for FY2022–23. Foreign buyers spent $4.9 billion on 5,360 properties which is a substantial rise from the previous year. Alongside a…
Can you identify a tax scam? Well, new research reveals that almost a third of Australians fail to spot tax scams. CBA report that when multiple tax phishing scams were tested on Australians over the age of 18, only 69% could successfully identify all of them. Interestingly, nine out of ten believed they were confident…
Australia’s total credit card debt attracting interest charges has dropped for the first time in six months, as households finally start to reign in their burgeoning credit card debts. The latest RBA credit card statistics released for the month of May show Australia’s total credit card bill attracting interest charges is now $17.61 billion –…
What is your priority – health or wealth? Well, Aussies are putting their bank account ahead of their health and friendships, according to new research by Finder. The survey with 1,102 respondents revealed 2 in 5 (43%) have sacrificed something for more wealth and success. What have you sacrificed for a higher income/career success? Sleep…
Millions of Australians would prefer their inheritance to be distributed prior to their relative’s death, according to new research by Finder. A Finder survey of 1,062 respondents revealed more than 1 in 3 (36%) Australians – equivalent to 7.5 million people – expect to receive an inheritance over the coming decades. The research found 1…
Australians tucked an additional $6.53 billion away in the bank in May as household deposits continued to hit record highs. The total amount saved in the bank from households is now $1.481 trillion – the 11th consecutive record high, according to the latest APRA monthly banking statistics. This means household deposits have risen by over…
Recently the Australian Taxation Office sent around a bulletin busting 5 common tax myths. Did you believe any of them? Myth 1: Investors can claim travel expenses to visit their residential investment property. Since 1 July 2017, investors can’t claim travel expenses to check on their residential investment property. This includes long and short-term rentals,…
