Ken is director of Metropole Wealth Advisory and gives strategic expert advice to property investors, professionals and business owners. He is in a unique position to blend his skills of accounting, wealth advisory, property investing, financial planning and small business. View his articles
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 –…
Capital Gains Tax or CGT is one of those taxes no one really wants to pay. In fact, questions around Capital Gains Tax are very common here on Property Update. So, let’s dive deeper into CGT so everyone has a better understanding of what it is and how you can minimise its impact on your…
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…
Capital gains tax (CGT) is the tax you pay on profits from selling assets, such as property. You essentially make a capital gain when the difference between the cost of purchasing your property (or another asset) and what you gained from selling it is greater than zero – in other words, you made a profit….
The interest rate hiking cycle might have peaked, but it’ll be some time until rates drop, borrowing capacity increases and Australia’s property market reopens to more first-home buyers. So it’s no wonder that housing affordability (or unaffordability) is such a popular topic at the moment. There’s no denying it has become a lot harder to…
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,…
Household wealth rose for a sixth straight quarter by 2.7 per cent ($431 billion) in the March quarter 2024, according to recently released figures by the Australian Bureau of Statistics (ABS). Total household wealth was $16.2 trillion in the March quarter, which was 10.2 per cent ($1.5 trillion) higher than a year ago. Residential land…
