Are you tossing up whether to take out tenant insurance to protect your belongings? The below FAQs may help you to make the best decision. Tenant insurance (or renters insurance) is a type of cover designed for people who rent, as opposed to those who own a property. It is a great safety net when…
How does Australia rank in the world’s $100 trillion economy? Quite good, actually! Based on the latest data released by the IMF, Australia ranks 13th, with a current GDP of $1.7 trillion. Visualizing the $100 trillion global economy Surpassing the $100 trillion mark is a new milestone for global economic output. We’ve covered this topic…
There are signs inflation pressures are easing. Oil prices are down almost 20% from their peak in March. They’ve been falling consistently for a month. The average capital city unleaded price is down from A$2.11 per litre in early July to a more bearable $1.74. The money market is pricing in much lower inflation than…
![How Australians rank against the world in paying income taxes [in 6 charts]](https://cdn.propertyupdate.com.au/wp-content/uploads/2021/06/calculating-taxes-270x200.jpg)
Australians pay too much income tax – or so some argue. The Australian Financial Review’s economics editor, John Kehoe, for example, has noted: “Australians are paying more personal income tax as a share of government revenue than any other advanced economy, except for the high-taxing Scandinavian welfare state of Denmark.” And the day after the…
Australian consumers and businesses lost more than A$2 billion to scams in 2021, according to the Australian Competition and Consumer Commission’s (ACCC) annual Targeting Scams report released recently. This figure should sound alarm bells – it’s more than double the $851 million reported lost in 2020. The increase in losses was primarily driven by a…
As he had promised to do almost since the day he became treasurer, Jim Chalmers has presented a gloomy set of forecasts for the Australian economy in his first formal economic statement to the new parliament on Thursday. Inflation is now forecast to peak at 7.75% in the December quarter of this year. That’s higher…
Inflation jumped from 5.1% to a new long-term high of 6.1% in the June quarter, a rate matched only by a short-lived jump caused by the introduction of the goods and services tax, and has not exceeded since 1990. With the exception of the introduction of the GST, it’s the furthest inflation has been from…
What does “the average Australian” look like? After every census, this is one of the questions people like to see answered. Average on one measure or on several? If the latter, would “average Australians” number in the millions, as most inquirers no doubt assume? Or would the “average” turn out to be atypical – a…
Some landlords mistakenly think that standard home and contents insurance is the right choice for their investment property. That could prove costly if they need to make a claim. Tenants Rentals have tenants. And that’s the fundamental difference between an investment property and a private residential property. Sounds basic, but it’s an important difference when…
Greed, desire, wishful thinking and naivety are lucrative markets for scam artists – and their age-old hustles are increasingly being supplemented by digital chicanery. In 2021 Australians lost an estimated $2 billion to fraudsters, more than double that of 2020, according to the Australian Competition and Consumer Commission. The consumer watchdog’s latest scam report details…
