Implementation of the First Home Saver Accounts
|
|
- Curtis Gordon
- 7 years ago
- Views:
Transcription
1 to the Federal Treasury on the Implementation of the First Home Saver Accounts February 2008
2 Comments are addressed to: General Manager Personal and Retirement Income Division The Treasury Langton Crescent PARKES ACT address: Introduction and background Page 1 Lead indicator to the Housing Supply Council Page 2 Education for young Australians and parents Page 2 First Home Saver Accounts for minors Page 3 Incentive to start saving through salary sacrifice Page 3 Offsetting the burden of Mortgage Insurance Page 4 Conclusion Page 4 HIA: Chris Lamont, Senior Executive Director Industry Policy Housing Industry Association 79 Constitution Avenue Campbell ACT 2612 (02) c.lamont@hia.com.au 2
3 1 Introduction and background The Housing Industry Association (HIA) congratulates the Australian Government and The Treasury on the decision to introduce First Home Saver Accounts. The measure is designed to reward and promote a savings culture and at the same time assist in fighting inflationary pressures in the Australian economy. HIA developed and proposed the introduction of these accounts as a means of rewarding Australians saving for a home of their own. The measure is also designed to avoid the reliance on 100 per cent loans as too often the only means of entering the housing market. The measure as outlined in the Treasury paper, First Home Saver Accounts, Outline of proposed arrangements, will provide tangible rewards for those Australians who commit to a savings plan and stick with it. The latest report from the Commonwealth Bank and HIA shows that housing affordability fell by 1.7 per cent in the December 2007 quarter, reflecting an interest rate rise in November and double digit growth in established house prices over the quarter. Housing affordability conditions in the December quarter were the lowest since the series commenced in High statutory charges, infrastructure and development contributions, increases in interest rates, and onerous red tape have each increased the price of new housing, reduced supply and as a consequence of strong demand exacerbated price pressures in established house prices. Today one in every two first home buyers faces mortgage stress, and the house price to income ratio is now approaching 9.1 compared to 5.3 in Multiple Interest Rates and House Price/Income Multiples, Australia Per Cent Price/Income Multiple Mortgage Interest Rate Source: CBA: ABS; Cth Treasury; Withers et al; HIA First Home Saver Accounts Page 1
4 Clearly the decline in housing affordability is not cyclical but structural, hence the need for a mix of measures to improve the accessibility of home ownership for present and future generations. To assist the Australian Government in finalising the design of First Home Saver Accounts the following comments and recommendations are provided. 2 Lead indicator to the Housing Supply Council The Australian Government will soon establish a National Housing Supply Council. It is understood that the Council will provide research, forecasts and policy advice to the Commonwealth Government and COAG, and will publish an annual State of Housing Supply Report analysing needs up to 20 years into the future. HIA believes that it is highly desirable for the purposes of planning housing supply that details on the amount of funds, number of deposits and location of account holders be supplied to the Council. Deposits in First Home Saver Accounts will provide an invaluable leading indicator of planned house purchasers and if used correctly could assist the industry as well as state and local governments plan for new construction and associated infrastructure requirements. Information proposed for the Housing Supply Council would not require a level of detail that would breach personal confidentiality. Information collected in aggregate relating to the size of deposits, date account was opened and location of account holder would be sufficient for planning and supply purposes. This information used correctly, would provide state and local governments assistance in planning for the provision of essential and community infrastructure. Furthermore, the information would be used by the housing industry to plan for new developments. Sufficient warning of consumer demand would allow the housing industry to plan additional supply and thus avoid price pressures on existing housing stock arising from an increase in demand. 3 Education program for young Australians and parents The outline of proposed arrangements for the First Home Saver Accounts makes no mention of a public education campaign in respect to the operation and rewards provided by the First Home Saver Accounts. HIA strongly recommends that consideration be given to an education campaign, promoting the incentives and operation of First Home Saver Accounts. The audience for an education campaign will be diverse, however, HIA envisages three primary interest groups. The policy initiative is obviously directed towards young Australians (18 and over), however, parents, and mature age persons who have not previously purchased a home are also expected to be interested in further detail and information. First Home Saver Accounts Page 2
5 Education, in particular financial literacy education, is an important key to a more secure and financially stable Australia. The success of this policy initiative will involve both take-up and account holders remaining committed to a savings plan. It is therefore recommended that an education campaign not only outline the operation of First Home Saver Accounts but provide information and tips on how to improve and embrace what may be termed a savings culture. To facilitate the above, education campaigns should avoid complicated jargon and provide clear and concise information targeted to the groups identified above. The education campaign would be enhanced by the addition of some practical tips for savings as per those outlined in the Australian Government, Understanding money How to make it work for you publication. 4 First Home Saver Accounts for minors Eligibility criteria as documented in the outline of proposed arrangements specify that an applicant must be aged 18 and over and under 65 years and open the account for themselves 1. It is recommended that consideration be given to allowing minors to have an account opened on their behalf by a parent or guardian. Under these arrangements contributions could not be made by a minor, however, contributions could be made by a parent or guardian of amounts not exceeding $2,000 per annum. These deposits would not be eligible for the Government co-. Contributions to these accounts (for minors) would be post-tax and would provide significant benefit in a child s formative education on the value and rewards of saving. 5 Incentive to start saving through salary sacrificing To assist with the take-up of First Home Saver Accounts and provide an additional incentive for many to start saving, HIA recommends that consideration be given to making deposits eligible for salary sacrifice. Eligibility for salary sacrificing could be limited to specific income groups and for a limited number of year(s). It is envisaged that allowing salary sacrificing would provide a valuable means of encouraging participation and would provide a incentive to increase saving and reduce consumption. The arrangements that currently exist, allowing wage earners to salary sacrifice additional contributions to superannuation would provide the basis for contributions to First Home Saver Accounts. 1 First Home Saver Accounts, Outline of proposed arrangements, page 11 First Home Saver Accounts Page 3
6 6 Offsetting the burden of Mortgage Insurance Aspiring first home buyers unable to save for a sufficient deposit are required to take out mortgage insurance. It is hoped that the operation of First Home Saver Accounts will significantly reduce the need for Mortgage Insurance. Currently, if a home purchaser borrows more than 80 per cent of what a lender considers the value of a property, mortgage insurance will be required. Mortgage insurance protects the lender in the event that a mortgagor defaults on a loan and the outstanding value of your loan is greater than what lender receives from selling the property. Many first home buyers are under the mistaken belief that they can make a claim on this insurance should they experience financial hardship and become unable to service repayments on their mortgage. While the cost of mortgage insurance varies in accordance with the value of a loan, most premiums for mortgage insurance are between $2,000 and $2,500. HIA believes that consideration should be given to the implementation of regulation, making it compulsory for providers of mortgage insurance to offer reductions in mortgage insurance premiums (should it be required) for purchasers who have demonstrated saving through the use of a First Home Saver Account. 7 Conclusion HIA thanks the Australian Government and The Treasury for the opportunity to comment and looks forward to discussing the recommendations detailed above and assisting in implementing First Home Saver Accounts. First Home Saver Accounts Page 4
ACCESSING YOUR SUPERANNUATION EARLY. 1. Relief from current financial burden
ACCESSING YOUR ANNUATION EARLY This factsheet focuses on Accessing Superannuation Early. This fact sheet is for information only. It is recommended that you get legal advice about your situation. For more
More informationBorrowers Guide to Lending
Borrowers Guide to Lending Introduction The Borrowers Guide to Lending has been designed to assist consumers gain a better understanding on how the lending process works. The mortgage process can be confusing
More informationSome proven financial advice strategies
Some proven financial advice strategies There are numerous key financial advice strategies that may put you on the road to achieving your financial goals Debt Management Debt consolidation can lower repayments
More informationBuying Your First Home APESMA. Christopher Fagan Scholten Collins McKissock Authorised Representative Godfrey Pembroke Limited
Buying Your First Home APESMA Christopher Fagan Scholten Collins McKissock Authorised Representative Godfrey Pembroke Limited Important Notice This advice may not be suitable to you because it contains
More informationSUPERANNUATION SUPERANNUATION AN OVERVIEW. Paper 026-001 CONTENTS
SUPERANNUATION SUPERANNUATION AN OVERVIEW CONTENTS Page 1. What Is Superannuation?... 2 2. A History Of Superannuation In Australia... 2 3. Why Implement The Superannuation Guarantee Scheme?... 2 4. How
More informationBanking Fees in Australia
Banking Fees in Australia The Reserve Bank has conducted a survey on bank fees each year since 1997. The results of the latest survey show that banks aggregate fee income was unchanged in 2. Fee income
More informationSTATEMENT 7: ASSET AND LIABILITY MANAGEMENT
STATEMENT 7: ASSET AND LIABILITY MANAGEMENT The Australian Government will improve its financial position by accumulating assets and limiting the growth in liabilities. This leaves the Government with
More informationIFSA Guidance Note No. 21.00
IFSA Guidance Note No. 21.00 Calculators Best Practice Guidance April 2007 Main features of this Guidance Note are: Highlight the importance of calculators in assisting users to make informed financial
More informationDefining Housing Equity Withdrawal
Housing Reserve Equity Bank of Australia Bulletin February 23 Housing Equity The increase in housing prices in recent years has contributed to rising household wealth and has helped to underpin continued
More informationHome Ownership and Superannuation White Paper
Home Ownership and Superannuation White Paper This paper contains general advice about our superannuation products and has been prepared without taking account of your objectives, financial situation or
More informationThe Westpac Group third quarter 2011 sound core earnings growth
Media Release 16 August 2011 The Westpac Group third quarter 2011 sound core earnings growth Third quarter 2011 highlights (compared to results for the average of 1Q and 2Q 2011) 1 Cash earnings of approximately
More informationHOME AFFORDABLE MODIFICATION PROGRAM BASE NET PRESENT VALUE (NPV) MODEL SPECIFICATIONS
Overview HOME AFFORDABLE MODIFICATION PROGRAM BASE NET PRESENT VALUE (NPV) MODEL SPECIFICATIONS As a part of the Making Home Affordable Program, we are providing standardized guidance and a base net present
More informationFinancing your Home Purchase
Financing your Home Purchase page 1 Disclaimer This booklet is for information purposes only, and must not be relied on as a substitute for legal advice. page 2 Contents How Much Can You Afford? 1 Other
More information1 What is the role of a financial planner when advising a client about retirement planning?
Questions with Guided Answers by Graeme Colley 2013 Reed International Books Australia Pty Limited trading as LexisNexis. Permission to download and make copies for classroom use is granted. Reproducing
More informationPart A: Personal Declaration Form to be completed by applicants.
ACT Revenue Office Application for an ACT Mortgage Relief Loan NOTES Applicants must read and understand the Terms and Conditions at the end of this form. If the conditions of eligibility are not met,
More informationAppraisal A written analysis prepared by a qualified appraiser and estimating the value of a property
REAL ESTATE BASICS Affordability Analysis An analysis of a buyer s ability to afford the purchase of a home, reviews income, liabilities, and available funds, and considers the type of mortgage a buyer
More informationWhat is a tax (financial) advice service?
What is a tax (financial) advice service? March 2014 If you provide personal advice you are likely to provide your client with advice which interprets and applies the tax laws, even though this may not
More informationFinancial Services Guide
Financial Services Guide / 1 Commonwealth Private Financial Services Guide Date of issue: 22 June 2015 Issue 10 Commonwealth Private Limited ABN 30 125 238 039 AFSL 314018 Registered office: Ground Floor,
More informationUnderstanding Superannuation
Understanding Superannuation Client Fact Sheet July 2012 Superannuation is an investment vehicle designed to assist Australians save for retirement. The Federal Government encourages saving through superannuation
More informationMonetary Policy and Mortgage Interest rates
Monetary Policy and Mortgage Interest rates July 2014 Key Points: Monetary policy, which operates through changes in the official cash rate (OCR), is the main lever of macroeconomic management in Australia
More informationThe First Home Buyer Grant and house prices in Australia
The First Home Buyer Grant and house prices in Australia David Blight, Michael Field and Eider Henriquez Abstract Australia s First Home Buyer Grants (FHBG) was designed to assist first home buyers into
More informationDebt Solutions. A Fox Symes Publication
Debt Solutions A Fox Symes Publication Contents About Debt... 3 Where Do You Stand?... 3 What should I do?... 4 It looks like I might need help... 5 What are my options?... 5 Debt Agreement... 5 Personal
More informationThe Effects of Funding Costs and Risk on Banks Lending Rates
The Effects of Funding Costs and Risk on Banks Lending Rates Daniel Fabbro and Mark Hack* After falling for over a decade, the major banks net interest margins appear to have stabilised in a relatively
More informationFinancial Services and Credit Guide
Financial Services and Credit Guide Aon Hewitt Limited ABN 13 091 225 642 Australian Financial Services Licence 239183 Australian Credit Licence 239183 Version 5 1 October 2014 Table of contents Introduction
More informationSUBMISSION TO THE RETIREMENT INCOME SYSTEM
SUBMISSION TO THE RETIREMENT INCOME SYSTEM Australian Future Tax System Secretariat The Treasury Langton Crescent Parks ACT 2600 Personal Details: [removed for privacy reasons] This submission is made
More informationOverview - State Tax Review Discussion Paper
Overview - State Tax Review Discussion Paper FEBRUARY 2015 WWW.YOURSAY.SA.GOV.AU Why Are We Reviewing Our State Tax System? South Australia is already a great place to live and we value that as a community.
More informationSelf Managed Super Fund (SMSF) Limited Recourse Loans
Self Managed Super Fund (SMSF) Limited Recourse Loans Memorandum Ever since the Superannuation Industry (Supervision) Act 1993 (SIS Act) was amended in late 2007, SMSF Lending has been arranging Super
More informationInsurance Personal Questionnaire
Insurance Personal Questionnaire Name of Client 1: Name of Client 2: This section is completed by your Adviser Adviser Name: Adviser Code: Interview Date: FSG Version Number Provided: Adviser Profile Number
More informationFINANCIAL LITERACY QUESTIONNAIRE G. Fogarty PhD FAPS
FINANCIAL LITERACY QUESTIONNAIRE G. Fogarty PhD FAPS Versions of this scale were used in the studies that formed the bases of the following publications, which are downloaded from eprints. Noon, Kathryn
More informationState of Child Care in Australia 1
State of Child Care in Australia This publication provides information on the state of child care in Australia. The report sources information from administrative data and survey data from the Department
More informationThe profit in home lending
The profit in home lending Technical Brief No. 16 August 2012 ISSN 1836-9014 David Richardson Technical Brief About TAI The Australia Institute is an independent public policy think tank based in Canberra.
More informationHow To Resolve A Low Doc Loan Dispute
The FOS Approach Responsible Lending series The Financial Ombudsman Service (FOS) provides free, fair and independent dispute resolution assistance to consumers (individuals and small business owners)
More informationHot property market leaves first home buyers waiting
MEDIA RELEASE EMBARGOED UNTIL 12.01AM FRIDAY, 19 DECEMBER, 2014 Hot property market leaves first home buyers waiting Growth in housing prices attributed to low interest rates and high levels of investor
More informationPERFORMANCE OF VICTORIA S DOMESTIC BUILDING INSURANCE SCHEME 2014-2015
PERFORMANCE OF S DOMESTIC BUILDING INSURANCE SCHEME 2014-2015 November 2015 An appropriate citation for this paper is: Essential Services Commission 2015, Performance of Victoria s Domestic Building Insurance
More informationCLIENT FACT SHEET. If you are under age 65 you may make personal contributions to superannuation on your own behalf.
CLIENT FACT SHEET July 2010 Understanding superannuation and superannuation contributions Superannuation is an investment vehicle designed to assist Australians in saving for their retirement. The Government
More information11.06% BALANCED RETURN
MAtTERS Spring 2015 11.06% BALANCED RETURN Contents Third consecutive year of double digit returns for members...1 Deadline extension for SuperStream compliance now October 2015!...2 A message from the
More informationBank of America Home Affordable Foreclosure Alternative (HAFA) Matrix
Bank of America Home Affordable Foreclosure Alternative (HAFA) Matrix If you do not qualify for the Home Affordable Modification Program (HAMP) or other modification programs that we offer, you will be
More informationIMF Country Report No. 11/365
The mortgage finance system in Canada is quite strong, as evidenced by its performance during the recent financial crisis. Home buyers who cannot make a 20 percent down-payment are required to insure their
More informationOptimism for positive growth in Australian
with etica finance e-newsletter January 2014 Optimism for positive growth in Australian share market in 2014 appears well-founded by Australian Unity Investments (reproduced with permission) For Don Williams,
More informationTerritorial Bancorp Inc. Announces 2015 Results
PRESS RELEASE FOR IMMEDIATE RELEASE Contact: Walter Ida (808) 946-1400 Territorial Bancorp Inc. Announces 2015 Results Fully diluted earnings per share for the three months ended December 31, 2015 rose
More informationChapter 5: Financial Wealth, Wealth in Great Britain 2010-12
Chapter 5: Financial Wealth, Wealth in Great Britain 201012 Coverage: GB Date: 15 May 2014 Geographical Area: Region Theme: Economy Key points Aggregate net financial wealth for all private households
More informationMaking the Most of Your Super
Making the Most of Your Super For many people, super is one of the best ways to accumulate wealth. The Government provides tax benefits to encourage people to fund their own retirement. With more Australians
More informationsalary sacrifice schemes for cars: decision maker s guide
salary sacrifice schemes for cars: decision maker s guide The decision maker s guide Introduction Salary have attracted increased levels of interest from fleets and the media over the past couple of years.
More informationHome Buyer Self Pre-Qualification Workbook
Home Buyer Self Pre-Qualification Workbook Bethel Community Development Corporation Bethel Community Development Corporation 1525 Michigan Avenue Buffalo, NY 14209 (716) 886-1650, ext 225 Fax: (716) 886-2311
More informationRECENT INCOME TAX CHANGES
RECENT INCOME TAX CHANGES Increased Medicare Levy Low Income Thresholds The Medicare Levy low-income thresholds for families and dependent child-student component of the threshold have been changed to
More informationAFFORDABLE HOUSING ACTION PLAN
AFFORDABLE HOUSING ACTION PLAN ACT LAND RENT SCHEME - FREQUENTLY ASKED QUESTIONS LAND What is the ACT Land Rent Scheme? The Land Rent Scheme is an ACT Government initiative to increase access to affordable
More information2016/17 Budget. 1. Effective Budget Night 7.30pm (AEST) 3 May 2016. 1.1 New lifetime cap for non-concessional superannuation contributions
2016/17 Budget Superannuation reform changes 1. Effective Budget Night 7.30pm (AEST) 3 May 2016 1.1 New lifetime cap for non-concessional superannuation contributions The government will introduce a $500,000
More informationLow Doc Home Loan Product Specification
Low Doc Home Loan Product Specification For further information www.partners.stgeorge.com.au Mortgage Central 1300 137 532 This product specification is the property of St.George Bank. It is for the use
More informationWhat does it mean? A Glossary of terms. Home Ownership Fact Sheet. Housing Programs Department of Housing and Public Works
Home Ownership Fact Sheet What does it mean? A Glossary of terms There are many words that are specific to property buyers, sellers and lenders. This list is designed to explain some of these words which
More informationAssistance in the private sector. 11 Rent assistance in the private market...28. 12 Home ownership assistance...31
Assistance in the private sector 11 Rent assistance in the private market...28 12 Home ownership assistance...31 27 11. Rent assistance in the private market Rent assistance to tenants in the private rental
More informationSupporting documentation and verification guide. For NAB Homeplus and NAB Peak Performance
Supporting documentation and verification guide For NAB Homeplus and NAB Peak Performance Contents Income verification 2 Full time and part time employment (PAYG)2 2 Casual employment2 2 Return to work
More informationRelocation Benefits. What is a relocation benefit? How salary sacrificing relocation benefits works. www.paywise.com.au
What is a relocation benefit? Employees are able to salary sacrifice certain costs associated with temporary or permanent relocation from their place of residence where their employer requires them to
More information2014/15 Budget. 1. Changes effective 1 July 2013 (i.e., 2013/14 income year)
2014/15 Budget 1. Changes effective 1 July 2013 (i.e., 2013/14 income year) 1.1 Medicare levy low income thresholds For 2013/14, the Medicare Levy low income thresholds will be as follows: Individuals
More informationMORTGAGE DICTIONARY. Amortization - Amortization is a decrease in the value of assets with time, which is normally the useful life of tangible assets.
MORTGAGE DICTIONARY Adjustable-Rate Mortgage An adjustable-rate mortgage (ARM) is a product with a floating or variable rate that adjusts based on some index. Amortization - Amortization is a decrease
More informationHelp to Buy: mortgage guarantee. scheme outline
Help to Buy: mortgage guarantee scheme outline March 2013 Help to Buy: mortgage guarantee scheme outline March 2013 Crown copyright 2013 You may re-use this information (not including logos) free of charge
More informationRepayment Options for Student Loans
Repayment Options for Student Loans When you begin repaying your student loans, you will likely select a repayment option, assuming your lender offers different options. In the past, lenders generally
More informationSharemarket investment strategies
Course 9 Sharemarket investment strategies Topic 1: Understanding the economy... 3 A top-down approach to investment analysis... 4 The Australian economy... 4 Keeping up-to-date... 5 Summary... 5 Topic
More informationContact us. Hoa Bui T: + 61 (02) 9335 8938 E: hbui@kpmg.com.au. Briallen Cummings T: + 61 (02) 9335 7940 E: bcummings01@kpmg.com.au. www.kpmg.com.
Contact us Hoa Bui T: + 61 (02) 9335 8938 E: hbui@kpmg.com.au Briallen Cummings T: + 61 (02) 9335 7940 E: bcummings01@kpmg.com.au www.kpmg.com.au No reliance This report should not be regarded as suitable
More informationFrequently asked questions
CHOICE OF SUPER Frequently asked questions 1 Content Choice 3 Standard Choice form 4 Employer default fund 5 Employer s obligations 5 Voluntary Superannuation Contributions 7 Former employees 8 Understanding
More informationSelf Managed Super Limited Recourse Borrowing
Self Managed Super Limited Recourse Borrowing "It's your retirement savings - don't you think it's time you took an active role in how it's invested! " NICHE FINANCE 22F / 105 Scarborough Street, Southport
More informationHome loan affordability report
Home loan affordability report Joint Quarterly Survey No. 89. ember Quarter Low affordability challenges Gen X, Y Home loan affordability has taken another beating as the proportion of family income required
More informationRecent Developments in Small Business Finance
Reserve Bank of Australia Bulletin February Recent Developments in Small Business Finance This article focuses on recent trends in small business financing, including the interest rates and fees and charges
More informationProgrammed Employee Share Acquisition Plan (PESAP)
Programmed Employee Share Acquisition Plan (PESAP) Programmed Employee Share Acquisition Plan ( PESAP ) Key Dates Offer commences Wednesday 1 June 2016 Initial offer close date Monday 20 June 2016 Contributions
More informationBuy Sell For Business Owners
ADVISOR PLANNING CONCEPTS Buy Sell For Business Owners One of the major concerns facing owners of family or closely held businesses is how to effect an orderly transfer of the business to the next generation
More informationStrategy Paper: Financial Planning for Generation-Y. SMSF Specialists Investment Management Financial Planning Accounting
Strategy Paper: 190 Through Road Camberwell VIC 3124 T: (03) 9809 1221 F: (03) 9809 2055 enquiry@gfmwealth.com.au www.gfmwealth.com.au ABN 69 006 679 394 Financial Planning for Generation-Y SMSF Specialists
More informationUnderstanding insurance
Version 4.2 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to. Important information This document has been published
More informationNational Consumer Credit Protection Amendment (Credit Reform Phase 2) Bill 2012
Mr Christian Mikula Manager, Disclosure and International Unit Retail Investor Division The Treasury Langton Crescent PARKES ACT 2600 By email: creditphase2bill@treasury.gov.au 1 March 2013 National Consumer
More informationWeb. Chapter FINANCIAL INSTITUTIONS AND MARKETS
FINANCIAL INSTITUTIONS AND MARKETS T Chapter Summary Chapter Web he Web Chapter provides an overview of the various financial institutions and markets that serve managers of firms and investors who invest
More informationStatistics. Quarterly Superannuation Performance (interim edition) June 2014 (issued 21 August 2014)
Statistics Quarterly Superannuation Performance (interim edition) June 2014 (issued 21 August 2014) www.apra.gov.au Australian Prudential Regulation Authority Copyright Australian Prudential Regulation
More informationThe Bank is trying to take my home What is the process and what can I do?
The Bank is trying to take my home What is the process and what can I do? When you buy a home, it is common to borrow most of the money from another party, usually a bank. This party is called the lender.
More informationYOUR GUIDE TO BUYING A NEW HOME.
YOUR GUIDE TO BUYING A NEW HOME. THE ROAD TO YOUR NEW HOME STARTS HERE. Buying a new home is exciting, but there s a lot to think about. We re here to help, with practical tips and online tools that make
More informationThinking Of Starting Your Own SMSF?
Thinking Of Starting Your Own SMSF? Introduction It s no coincidence that interest in self managed superannuation has skyrocketed since the global financial crisis (GFC). The loss of investor confidence
More informationSelf Managed Superannuation Funds
Self Managed Superannuation Funds You have as much choice and control over an investment property using your superannuation funds as you would by investing personally Self Managed Superannuation Funds
More informationAnswers to Review Questions
Answers to Review Questions 1. The real rate of interest is the rate that creates an equilibrium between the supply of savings and demand for investment funds. The nominal rate of interest is the actual
More informationHousing Affordability Report
Housing Affordability Report Joint ly Survey No. 94. ch Interest rate increases bite hard The title of the Deposit Power/Real Estate Institute of Australia Home Loan Affordability Report has been changed
More informationFinancial Mappers Tutorial
Financial Mappers Tutorial How to Make a Debt Reduction Plan (Part A) (Age 35 45) How to Invest Without Debt (Part B) (Age 46 65) Disclosure Statement Financial Mappers is not intended to offer, or be
More informationIntroduction to Australian Real Estate Debt Securities
1 Introduction Introduction to Australian Real Estate Debt Securities Superannuation fund investors and managers have for a long time invested in real estate as part of their asset allocation in the belief
More informationWelcome to our spring Wealth Management update
Wealth Management Serious about Success Welcome to our spring Wealth Management update This edition covers the following topics: Model portfolio summary Reverse mortgages are they worth it? Coalition policy
More informationSUBMISSION TO INQUIRY INTO AFFORDABLE HOUSING. Prepared by National Policy Office
SUBMISSION TO INQUIRY INTO AFFORDABLE HOUSING Prepared by National Policy Office March 2014 COTA Australia Authorised by: Ian Yates AM Chief Executive iyates@cota.org.au 0418 835 439 Prepared by: Jo Root
More informationBusiness Studies - Financial Planning and Management Study Notes. Financial Planning and Management Study Notes:
Business Studies - Financial Planning and Management Study Notes Financial Planning and Management Study Notes: The Role of Financial Planning: The strategic role of financial management: Organisational
More informationImproving the tax treatment of bad debts in related party financing
Improving the tax treatment of bad debts in related party financing Discussion paper July 2012 Commonwealth of Australia 2012 ISBN 978 0 642 74837 9 This publication is available for your use under a Creative
More informationUnderstanding insurance Version 5.0
Understanding insurance Version 5.0 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to insurance. This document
More informationCapital gains tax treatment of earnout arrangements
Capital gains tax treatment of earnout arrangements Proposals Paper May 2010 Commonwealth of Australia 2009 ISBN 978-0-642-74607-8 This work is copyright. Apart from any use as permitted under the Copyright
More informationStudent Loan Scheme Amendment Bill (No 2) A briefing note prepared for the Finance and Expenditure Committee
Student Loan Scheme Amendment Bill (No 2) A briefing note prepared for the Finance and Expenditure Committee Policy Advice Division, Inland Revenue 13 November 2012 Student Loan Scheme Amendment Bill (No
More informationAbacus Wodonga Land Fund
Abacus Wodonga Land Fund DISCLOSURE OF INFORMATION The Australian Securities and Investments Commission (ASIC) has developed six benchmarks and eight disclosure principles for unlisted property trusts
More informationFAQs: 401(k) Savings Plan
FAQs: 401(k) Savings Plan Q1: What is a 401(k) Plan? A1: A 401(k) Plan is a qualified retirement plan. By participating in the Plan, you may elect to reduce your compensation by a specific percentage and
More informationSERVICES GUIDE FINANCIAL. Product Information Brochure. Effective from 2 November 2015
FINANCIAL SERVICES GUIDE Product Information Brochure Effective from 2 November 2015 QUEENSLAND COUNTRY CREDIT UNION LIMITED FINANCIAL SERVICES GUIDE 1 OUR FINANCIAL SERVICES GUIDE ( FSG ) This FSG is
More informationFinancial Plan for Your 30s
Financial Plan for Your 30s 0 5 10 15 20 25 30 35 40 Number of years 40 years 30 years 35 years 25 years CIR116014 Getting Started In their 30s, many workers have an established job and cash flow. With
More informationKiwiSaver: New Zealand s New Subsidized Retirement Savings Plans
NOTES KiwiSaver: New Zealand s New Subsidized Retirement Savings Plans by Barbara E. Kritzer The author is with the Division of Program Studies, Office of Research, Evaluation, and Statistics, Office of
More informationA super waste of money
A super waste of money Redesigning super tax concessions April 2015 ISSN 1836-9014 Matt Grudnoff Policy Brief About TAI The Australia Institute is an independent public policy think tank based in Canberra.
More informationservices system Reports Act 1988 (Cth) Australia has a sophisticated and stable banking and financial services system.
FINANCIAL SERVICES Australia has a sophisticated and stable banking and financial services system Australia has a sophisticated and stable banking and financial services system. The banking system is prudentially
More informationFinancial services guide
Financial services guide The Financial Services referred to in this guide are offered by: Dixon Advisory & Superannuation Services Ltd ABN 54 103 071 665 AFSL 231143 A hard copy of this document is available
More informationHousing Affordability Report
Housing Affordability Report JUNE QUARTER Stable market but no reprieve for first home Housing affordability remained relatively steady in the June quarter of with the proportion of income required to
More informationConsultation on potential early repayment mechanisms for student loans
HIGHER EDUCATION Consultation on potential early repayment mechanisms for student loans JUNE 2011 Contents Student finance reforms...3 Why we are consulting on early repayment mechanisms...3 The existing
More informationTo see if you qualify for this program, send the items listed below to Northwest Savings Bank.
COMPLETE YOUR CHECKLIST We need this information to help you modify your mortgage payment. To see if you qualify for this program, send the items listed below to Northwest Savings Bank. 1. The enclosed
More informationHelpful Information for a First Time Mortgage
Helpful Information for a First Time Mortgage Getting Started Many people buying their first home are afraid lenders don't really want to work with them. But that's simply not true. Without you, there
More informationHousehold Borrowing Behaviour: Evidence from HILDA
Household Borrowing Behaviour: Evidence from HILDA Ellis Connolly and Daisy McGregor* Over the 199s and the first half of the s, household debt grew strongly in response to lower nominal interest rates
More informationHomeTown: Portsmouth s First Time Homebuyer Program Information & Guidelines
HomeTown: Portsmouth s First Time Homebuyer Program Information & Guidelines The HomeTown Program is a partnership of the City of Portsmouth and RBS Citizens, N.A. Overview The HomeTown Program provides
More informationA Portrait of Australian Home Prices
A Portrait of Australian Home Prices October 2014 Key Points: Recent pronouncements from the Reserve Bank of Australia (RBA) and some media commentators have indicated that a continuation of dwelling price
More information1 Regional Bank Regional banks specialize in consumer and commercial products within one region of a country, such as a state or within a group of states. A regional bank is smaller than a bank that operates
More information