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40-Year Mortgages: A Lifeline or a Long-Term Debt Trap for Australians?

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Aussies Consider Longer Loan Terms to Ease Mortgage Stress As the cost of living crisis continues, one in three Australians say they would consider taking on a 40-year mortgage to reduce their monthly repayments, despite the significant long-term financial impact. New research from Finder shows that while extending the loan term can provide short-term relief, […]

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Western Australia Sees 42% Surge in Business Closures – How to Protect Your Business

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Small Businesses Under Pressure as Insolvencies Reach Record Highs Western Australia has seen a staggering 42% increase in business insolvencies, with over 1,000 businesses shutting down between January and December last year. This dramatic rise, revealed by recent ASIC data, highlights the severe financial distress faced by business owners across the state. The construction and

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5.69% Fixed Rate: Westpac Leads Banks in Mortgage Rate Cuts

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Westpac has cut its fixed mortgage rates as competition intensifies among Australia’s major banks, anticipating a potential Reserve Bank of Australia (RBA) rate cut next week. This move signals a shift in the lending landscape, providing borrowers with lower-cost options in a market that has been dominated by high interest rates. Westpac Leads Fixed Rate

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Business News Updates: ASX Fluctuates Amid Earnings Season, CBA Profit Rises, and Banks Cut Fixed Rates

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The Australian share market experienced volatile trading as the corporate reporting season picked up momentum, with mixed earnings results influencing investor sentiment. Meanwhile, Commonwealth Bank of Australia (CBA) posted a strong profit increase, and several major lenders responded to shifting economic conditions by cutting fixed mortgage rates. ASX Swings as Earnings Reports Roll In The

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Major ATO Change: 15% Tax Withholding for Property Sales Without Clearance

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Sweeping Changes to Foreign Resident Capital Gains Withholding Rules The Australian Taxation Office (ATO) has introduced significant changes to its Foreign Resident Capital Gains Withholding (FRCGW) regime, now requiring all Australian property sellers—not just foreign residents—to obtain a clearance certificate. Effective 1 January 2025, these updated regulations mean that anyone selling property in Australia must

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Starting a Business in Australia? Here’s Why You Need an ABN

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Starting a business in Australia? One of the first steps is obtaining an Australian Business Number (ABN). Whether you’re a sole trader, partnership, company, or trust, an ABN is a crucial identifier that helps streamline business transactions and tax obligations. In this guide, we’ll break down what an ABN is, why it’s important, and how

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Is Your Super on Track? Essential Tips for Wealth Growth & Tax Efficiency

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Superannuation is one of the most powerful wealth-building tools available to Australians. With compulsory employer contributions, generous tax incentives, and the ability to tailor investments to suit your financial goals, your super can be the foundation of a comfortable retirement. However, changing regulations, tax considerations, and investment choices can make navigating superannuation complex. At Boa

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Affordability vs. Opportunity: Is Now the Right Time to Buy Property?

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As the Reserve Bank of Australia (RBA) signals potential interest rate cuts, hopeful home buyers are gearing up by securing financing in larger numbers. However, while lower rates will boost buyer sentiment, they may not unleash a massive surge in demand—at least not immediately. Mortgage Applications on the Rise, But No Floodgate of Demand Recent

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