New credit union reforms may result in better home loans

In a proposed reform to credit unions, building societies and online lenders, the federal government is planning to loosen restrictions on which institutions can call can themselves a bank. The move is set to undercut the power of the Big Four Banks, increase competition, and give more options to borrowers.

New Changes to ATO Withholding Tax Considers Buyers “foreign until proven otherwise”

New Changes to ATO Withholding Tax Considers Buyers “foreign until proven otherwise”

The Australian Taxation Office (ATO) has changed the rules for clearance certificates yet again this financial year. The new rule was implemented as part of the 2017 federal budget and was in effect from July 1st, 2017. It is due to affect approximately 60% of the housing market.

3 Big Changes for First Home Buyers

3 Big Changes for First Home Buyers

Housing affordability has become a hot topic in NSW. Young first home buyers and the middle-class are particularly scorned due to Australia’s high cost of housing in proportion to wage growth.  Luckily, the NSW government has recently released a new package of measures designed to improve housing affordability across NSW and give a leg-up to those looking to break into the housing market. Foreign investors, on the other hand, will be receiving a slap on the wrist.