If you are a wage earner, complete an income tax Withholding variation (itWv) to minimise holding costs so you can get tax savings back regularly during the year.
Let's look at ME Bank (owned by NAB). In November 2016 it went to market for a total of $350 million paying 1.4% over the bank bill swap rates. It has now just gone back to the funders and is paying just 1.2% over the bank bill swap rate. So if cost of funds hasn't risen then why has your mortgage…
It is good to see that one MP has decided enough is enough and has called out the bank greed following their recent in step rate hikes. Their excuse was that the cost of funds have gone up. The RBA, APRA, ASIC and you and I know this is FAKE NEWS. They have already locked in long term funding for…
Another Investor Rip Off ASIC is onto bank greed. Where are RBA and APRA? They are supposed to be bank regulators! Where are our Federal and State Treasurers?? Interest Only loans increased 0.25%. Now, our Big 4 banks are up another 0.25% in step. Another investor rip off!! As usual no comments from…
The answer is no. But you wouldn't think so looking at the media headlines. Scary, but scary sells papers and gets people tuning into the news. The reality is that Australian banks have already bedded down long-term loans for the next ten years at extremely low rates. Most of these rates are…
In a recent release by CBA, they disclosed that the leverage ratio was only 4.9%. Australia's biggest bank leverages its capital twenty times. This is a kin to them lending you money you just put 5% of your own money in. This is in stark contrast with the regional banks, their so called…
The latest from Westpac who is normally the most accurate with predictions is saying that they see no movement from the RBA in the next 2 years. My info is that the banks are loaded up with ten-year terms with very low rates. There will be no need for an increase apart from greed... and an inactive…
I note that our banks are now funded mainly on long term low interest money. They could afford to offer a ten year loan below 4% and make the same high profits they made before Rudd. They won't because we now have a banking monopoly with double the profit margins. They're sitting on rate drops…
We have the three monkeys, hear no evil, see no evil, do no evil. In my opinion, that is our Members of Parliament, APRA and the RBA. The APRA madness attack on property investors has allowed the banks, with the approval of the RBA, to exercise greed. APRA is supposed to be concerned that interest…
There is a concerted media push to panic people into believing interest rates are going to rise. I don't believe they will. ASIC has pointed out - and they are alone in this - that the banks have the capacity to drop in line with the RBA and should drop. Your Club has always stated the same. The…
Post the US election any excuse is good enough which means our banking monopoly is going to grab the Trump victory as an excuse to push up rates in Australia. Why? Because they can and there is no one governing Australia. Our elected members of parliament are too busy hurling insults at each other…
Do both of these important people lack coal face experience and coal face contact? First, Morrisson returns from overseas saying low-interest rates haven't helped the economies and tells this to Lowe. The problem is that low rates have been successful overseas. The US had 10% unemployment when we…
I was sure that the RBA was going to lower rates until our Treasurer returned from overseas declaring that low rates don’t help the economy. This is despite the facts that show low rates in the UK and America reversed their high unemployment where they are now sitting way, way below Australia. In…
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