income Archives · Australian Loans Group

Wages Increased 0.8% in the March Quarter

Posted on 11/07/202405/07/2024 by Laze Spasevski

The wages of the average Australian worker increased 0.8% in the March quarter. This takes annual wages growth to 4.1%, according to the Australian Bureau of Statistics. The industries with the biggest annual increases in wages were: Health care & social assistance: 5.3% Electricity, gas, water & waste services: 4.4% Retail trade: 4.4% Transport, postal & warehousi...
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Unemployment stayed at 3.5%

Posted on 26/05/202325/05/2023 by Laze Spasevski

Australia’s unemployment rate has stayed at 3.5% in March. It now had a ‘3’ in front of it for 13 consecutive months. Since February 2022, unemployment has ranged between 3.4% and 3.9%. In March 2023, it held steady at 3.5% for the second consecutive month, according to the Australian Bureau of Statistics. In line with the increase in employment, female participation rates surged to a re...
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Good News For First-time Home Buyers

Posted on 25/04/202325/10/2023 by Laze Spasevski

There is good news for first-time home buyers as research from Domain shows that over the past year, it’s become significantly easier to save a 20% house deposit. In order to become homeowners, first-time home buyers must overcome 2 significant financial obstacles. They need to save for a lump sum deposit and they need to keep up with the monthly mortgage repayments. February 2022 data show...
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Tax Returns Are Ready

Posted on 07/09/2022 by Laze Spasevski

Taxpayers' tax returns are ready to be lodged, as more than 80 million pieces of information are available in pre-fill. The Australian Taxation Office said much of the information it collects from employers, banks, private health insurers, share registries, and other institutions have now been loaded into people's tax returns. "While having this data ready to go cuts dow...
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FY22 Tax Returns | ATO Warning

Posted on 23/08/202221/08/2022 by Laze Spasevski

The Australian Taxation Office warned small businesses that it will focus on three main areas when assessing the FY22 tax returns. The first area the ATO plans to examine closely is overclaiming on expenses and claiming deductions for private expenses that are unrelated to business income. The second area is the potential omission of certain income streams, such...
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