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finance

ATO Intends to Collect Tax Debts

Posted on by Laze Spasevski
The ATO (Australian Taxation Office) has put small businesses on notice that it intends to collect unpaid tax debts and crack down on tax evasion. ATO second commissioner Jeremy Hirschhorn said small businesses were responsible for 65% of the $37 billion in collectible (i.e. not disputed) debt. Mr Hirschhorn said that while the ATO took a relatively relaxed attitude to debt collection during...
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Interest Rates Update

Posted on by Laze Spasevski
  While variable interest rates are continuing to rise, with another 0.50% increase earlier this week, some lenders are actually cutting their fixed rates. Lenders started increasing their variable rates in May, once the Reserve Bank of Australia (RBA) began increasing its cash rate. However, lenders increased their fixed rates much earlier, in anticipation of future rate hikes and ...
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Homebuilding Activity At Record Highs, But Future Volume Will Be Much Lower

Posted on by Laze Spasevski
Homebuilding activity is at a record high, but this trend has definitely reversed. A record 143,037 new house builds were started in the year to March, according to the most recent data from the Australian Bureau of Statistics. However, when observing the trnd of completed houses vs commenced houses, we can see that they are heading in opposite directions. This suggests that while existing buil...
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Australia’s Economy Gets Big Tick

Posted on by Laze Spasevski
Australia's economy is officially one of the strongest in the world. That’s after Moody’s affirmed Australia’s AAA credit rating, making Australia one of only nine countries in the world to have a AAA credit rating with the three major ratings agencies. "Australia's economy continues to demonstrate resilience, underpinned by its scale, diversity and high incomes, as well as its highly fl...
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