AusFinance

Almost half of Australia’s mortgage holders would be in financial stress if the expected Melbourne Cup interest rate rise goes ahead, paying at least 30% of their income to service their loans.

Households diverting at least 30% of their disposable income to service a mortgage – a standard stress gauge – will account for 48.5% of total borrowers, according to the Australian National University’s Australian tax and welfare system model.

The proportion rose from 26.7% in pre-Covid 2019 to 43.8% at the end of last year, and easily topped the 38.5% share of households in 1993, to be at record levels.

Mr Purcell admits he initially bought his battery as a form of insurance against the volatility inherent in the spot market.

However, his thinking quickly changed when he saw the opportunities on offer, describing one instance in which he was able to fill up his 10-kilowatt-hour battery with electricity costing 1 cent per unit.

"That's the opportunity and the risk on the very low prices," he said.

"It cost me 10 cents to fill the battery during the middle of the day.

"And then at night-time the price went up over $10 a kilowatt hour, so I was able to export that same 10 kilowatts out of that battery for $100."

Surprise! Fuckwit Who Thinks You Don’t Work Hard Enough Got His Start Through an Inheritance

The decision from Australia's central bank will be welcome news for borrowers, but some economists think there's a chance of another rate rise this year.

New article from Passive Investing Australia. Always quality content!

"The Commonwealth Bank has reported a record $10.16 billion profit and will lift its dividend even as it sees increased risks from cost of living rises and high interest rates."

Planning to buy a house but not sure where to start. Any help is really appreciated.

Should it be done at all? Or how long should one wait for before getting credit card when having a existing mortgage?

FYI:

• we are here in NSW
• getting credit card only to take advantage of the points and convenience in some case, not a necessity

Watch out for scams, folks

This flowchart had been shared before, mostly on reddit and likely on lemmy too.

I believe it is good to keep passing this knowledge forward.

As for discussion, are there any changes needed for this flowchart? since it was created a while ago

Do you happen to know banks that meet these criteria?

• Telephone banking (of some fashion) provided
• TOTP for 2FA is a) available and b) its use is not contingent on the use of an app; 2FA seeds are freely exportable by the user via web login

Archive

If independent consulting isn’t a good model, what are some other good alternatives?

Should we have a government agency monitors such contract and hold them accountable? So, pretty much a specialised ICAC constantly going through all gov-private contract to see if they are legitimate and determine if tax money is being ripped off?

I had always assumed that considering my share broker has my TFN that it would all be worked out automatically for me, the same as they already can with dividend income. But I go to MyGov to fill out the details and get met with a form asking me to manually enter CGT details:

Above it's got a list of a bunch of transactions, presumably from the large number of shares I sold earlier this year to pay for a downpayment on a house (the first time I've sold shares after a few years of buying).

From the company I buy shares through, I've got an "Interim Tax Summary Report" which has fields very similar to those in this sample PDF I found online:

If that sample was my actual report, would that be sufficient information to submit the three fields shown on MyGov with the following?

• Total current year capital gains: 36,767 (17,505+19,262)
• Net capital gain: 26,222 (17,505+9,631-914)
• Net capital loss carried forward to later income years: 0 (because Net capital gain is > 0)

And the "Wealth+ Management Fees" number (0 in this example, its equivalent not 0 in my real report) would go as a deduction under "Dividend deductions"?

edit: I have just realised that in my real one, (Long gains + short gains - losses - discount gains) is > 0. That makes me even more lost than I was to begin with.

As Vanguard retail funds are now closed to new investors, there is a risk that over time these funds may no longer be economically viable to operate and could result in increased fees or termination of the funds. This proposal gives you the opportunity to participate in a one-time transaction to transition to our larger wholesale funds without triggering a capital gain.

I just completed my tax on my gov and the estimate says I owe nearly a thousand dollars. I'm not earning any more than last year and I got about 800 back last year. Anyone else having this issue?