According to a recent research by an online comparison website, just 43% of Australians hold income protection. Significantly, more than half of those Australians who have a life insurance policy held within their superannuation believe it wouldn’t meet their family’s needs should the unexpected happen.
A presentation by the Fortnum Foundation was made in Brisbane to Suzanne Rose, Chair of the charitable organisation, Aunties and Uncles. Ryan Dobbrick (pictured above second from right) from Dobbrick Financial Services along with Steve Nichols from Stratus and Fairway Financial Advice, welcomed members of the Aunties and Uncles Board.
On Tuesday 9 May, the Federal Government handed down its Budget for the 2017–18 financial year.
According to Federal Treasurer Scott Morrison, this year’s Budget is founded on the principles of fairness, security and opportunity. Mr Morrison claims that the government’s proposed measures will raise almost $21 billion in revenue over the next four years, returning Australia’s budget to surplus by 2021.
Here are some of the key Budget announcements. Note that each of these proposals will only become law if it is passed by Parliament.
The Reserve Bank of Australia (RBA) Board met on 7 March 2017 and as widely expected, left the official cash rate on hold at 1.5%. There has been no change in the official cash rate since August 2016.
The strength in the housing market was reinforced by March month end figures from CoreLogic showing capital city home prices rose 1.4% in March and up 12.9% per year with prices rising in all eight capital cities in March.
So what does this all mean? According to a recent survey by Reuters, the decision to keep the cash rate at generational lows was no surprise to most Economists. If you are a retiree that has relied on your cash income from savings, you may have your hand forced to look for an alternative investment as your situation could be a little vulnerable.
A debt crackdown similar to the recent robo-recovery Centrelink debacle which sent bills to thousands of Australians is now shocking Airbnb hosts and leaving them with fines worth thousands of dollars.