As we head into the new year of 2023 many Australian expats have the goal of purchasing a property back in Australia, either as an investment property or as a future principal place of residence or owner occupied property. In 2022 we saw an increase in the central cash rate from 0.10% to 3.10% by the RBA in only a short period of time. The increase in interest rates and the global uncertainty has turned the market on the east coast cities into a buyers market. This is allowing Australian expats the ability to choose from a greater stock of properties and negotiate on sale t ..read more

Annandale is about 1.5 square kilometres in size, a small family friendly suburb situated in the inner-west precinct. Its nine parks take up almost 6% of the total land area, with a portion of the north backing onto the Rozelle Bay. In 2011, 8,668 people lived in Annandale. In 2016, there were 9,456 people living there. This shows that the population grew by 9.1% during that time. Most people in Annandale are between 30 and 39 years old. Most of the homes in Annandale belong to families with children, and each month, they probably pay more than $4,000 on their mortgages. Most people in Annanda ..read more

 The RBA Board decided at its August meeting today to raise the cash rate target by 50 basis points, to 1.85%. It also raised the interest rate on exchange settlement balances by 50 basis points, to 1.75 percent. The Board’s top priority is to get inflation back to between 2% and 3% over time while keeping the economy steady. The path to this balance is narrow and full of volatility, not least because of what’s going on around the world. The outlook for global economic growth has been reduced since higher inflation, monetary tightening policy in most countries, Russia’s invasion of Ukrain ..read more

At its December meeting today, the RBA Board decided to raise the cash rate target by 25 basis points, to 3.10 percent. The interest rate on Exchange Settlement balances was also raised by 25 basis points, to 3%. The Board’s top goal is to get inflation back to between 2% and 3% over time while keeping the economy stable. The path to this balance is narrow and full of ups and downs, not least because of what’s going on in the rest of the world. Higher inflation and tighter money policies in most countries have made it less likely that the world economy will grow. The rate of inflation in the U ..read more

Effective June 30, 2023, the Queensland government is changing the calculation method for how they levy land tax on the value of Australian land. Simply put, this is a tax grab by the Queensland Government. I am sure they will dress this up on how the additional revenue will assist Queensland residents, but this is a lazy tax grab on the back of a hot property market. This tax is an additional impost on property investors that hold property in Queensland and interstate. What is Land Tax Land Tax is an annual tax, that is levied against individuals and entities – when the value of the ..read more

This article will explain what the HELP programme is and how the amount you owe and how much you pay back affect your take-home pay and your ability to get a new mortgage. What is the Higher Education Loan Program (HELP)? The HELP programme is a loan programme run by the federal government to help students pay for their higher education. This loan programme is designed to assist students to study and put off paying for school until they reach a taxable income threshold . Among them are the following programs: Higher Education Loan Program (HELP) VET Student Loan (VSL) Student Financ ..read more

The RBA had their first interest rate meeting for 2022, Tuesday the 1st of February 2022 for decide on their cash rate policy to start the year. The RBA board decided to keep the cash rate on hold at historical low of 0.10 points. The board also commented that they will cease further bond purchasing and the final transaction to occur on the 10th of February. RBA on the Australian Economy The board viewed the Australian economy through the lends of the Omicron outbreak and the recent impacts on the economy. Noting that the latest outbreak has not derailed the economic recovery, due to less rest ..read more

The RBA concluded their June meeting and have increased the central cash rate by 50 basis points to 85 basis points. This is on the back of their May meeting of increasing by 25 basis points. First increase in 10 and ½ years and now back to back increases. It certainly looks like the RBA is trying to shock the market (and it did judging by the ASX closing down 1.5%) As always the key theme from the RBA is around inflation and employment. RBA on the Australian Economy The employment data is strong with a 3.9% unemployment rate and inflation is still trending above the 2-3% band. The challenge f ..read more

This article will explore how you can apply for an Australian mortgage whilst overseas. The COVID pandemic has severely impacted many Australian expats living overseas, since the spread of the virus in January 2020. The impact for many Australian expats, has resulted in job loss, reduction or loss of business income and a reduced in income from their employment (from a reduction in hours, taking a pay cut to bonus income being postponed). Our conversations with Australian expats over the past 12 months, has had a similar theme of talking about a ‘come home’ factor. Many Australians had planned ..read more