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.
One of the best ways we can teach our kids about money and money management is through pocket money. Introducing kids to a healthy savings plan from their pocket money can make a real difference to their future and give them saving skills that can last a lifetime.
The Reserve Bank of Australia (RBA), as widely expected, left the cash rate unchanged at 1.5% at the December 2016 Board meeting.
The Australian dollar was weaker against the strengthening USD throughout December. The AUD ended the month down 2.4% against the USD at $US0.7208. The AUD was also weaker against the other major currencies.