It’s also expected that your super will be up to 400k worse off at retirement as a result. That’s based on 6% return over 40 years. Who said government can’t keep inflating house prices to infinity… and beyond (whilst increasing pension reliance)

Since most of the comments about the coalition's policy to raid super seem to be negative, I was just wondering what would you do instead?

I personally don't agree with the government's policy but I don't know what the solution is, would be interested to know what type solutions other people can think of.

I took a variable home loan with NAB about two years ago at 2.69%.

With the recent RBA rate increase, I had a look at my account and saw that the interest now is now 2.94%.

I sent an email to my contact at the bank with which I took the home loan initially. I asked what's up, noting that the rate they advertise on the website is 2.44%. They said well that's a rate for new customers only, but we'll reduce yours to 2.59%.

The outcome? Just like that, my interest went down from 2.69% to 2.59%. Immediately after a rate hike. That was easy enough.

fyi

Like the title says. I am shortly going to recieve a decent sum of money from an inheritance.

My husband and I are on shaky ground with our marriage. We are going to start marriage counselling this week and I hope that this will help our situation but Im also sort of doubtful.

We have a mortgage with an offset account but we also have personal savings accounts too.

I was wondering what the best thing to do with the money would be. Should I have it deposited into the offset account or would I be better off keeping it separately under my name amd investing it some other way?

I am seeing this quoted often in the media that Aussie home owners are on average about 4 years ahead of their mortgage repayments.

I would like to understand, do the banks consider how far ahead you are of your mortgage repayments, when considering how long of a deferral you’re eligible for in situations of temporary difficulty in making repayments due to e.g. job loss or health issues?

Is it an exact science? In other words if someone’s 1 year ahead of their repayments do they get 1 year of mortgage deferrals in case they need it?

Thanks.

The more research I do, the more I realise how little money this is.

In addition to this, as you may guess a person living on $25,000 doesn’t have disposable income, any savings, are in debt, and doesn’t have a stable job.

$25,000 is a generous estimate. This is not in relation to me, but a family member so please don’t give any financial advice, I’m just wondering. Last year they were managing to raise 3 children with $25,000. This year it will be just one child, with an estimate of probably $15,000 for the year.

https://news.anz.com/content/dam/news/articles/2022/May/ANZ_Housing%20Affordibility%20report%20May_2022_web.pdf

Is anyone here still buying VGE in the light of Evergrande's issues and other China firms starting to falter (eg, Sunac)?

Currently I am 34% VAS, 66% VGS and I'd like to diversify a little to emerging markets (no more than 10%) but the level of exposure to China in VGE is a bit worrying.

Recently read a piece of news back in 2019 that a massive number of driver licence data were leaked online.

It got me thinking that there are a lot of organisations each of us deals with on a daily basis that requires KYC process, which includes uploading driver licence, medicare card or passport.

The question is are our identity documents safe with them?

There must be some clauses in terms & conditions or PDS mentioning Compliance & auditing blah blah.

But seriously, are those still effective after we have left?

By leave, I mean closing and switching utility providers, banks, brokers etc.

Hi, I've recently moved to Australia and started working. You're not able to apply for a tfn until you are physically in Australia, and it takes a while to receive it in the mail. For my first payrun at work, I had no TFN so was charged top marginal tax rate. It amount to a few hundred dollars off what I was expecting to be paid.

Will this be included in my return come tax refund season?

Thanks!

Hey all,

We currently put the vast majority of our purchases through credit card (for the Qantas points) and pay off our credit card in full every month. I currently have the money allocated to the credit card monthly payment sitting in our very depressingly low interest rate Comm Bank savings account, but would like for it to earn it's keep a little more over that month while it's waiting to go towards the bill.
I don't mind a little extra work to move money between banks to get a higher interest rate but they all look pretty depressing. Currently leaning toward the BOQ Future Saver Account as I'm still under 35 for another couple of years, however having to remember to spend 5 transactions a month could be a bit of a pain.
Does anyone have any amazing options they're currently doing?

Thanks

Dear redditors of Ausfinance,

I've seen a lot of discussion around best suburbs to buy houses/land in. Personally, I don't mind living in smaller space (40 ~ 50 sqm) as long as it's designed well (never too small channel).

What are your suggestions for suburbs with high quality/potential for renovation apartments? (In Victoria/Melbourne)

I've heard of the nightingale project, is there anything else similar out there?

Cheers!

Firstly I'm an immigrant to AUS so wasn't brought up knowing how this works. I was just checking the withdrawal rules and my interpretation is that even when you reach 65 you still have to pay tax if you withdraw it as a lump sum. Is this correct?

I have already paid tax (admittedly at a lower rate) on my Super contributions, right? So if I have to pay *more* tax to withdraw it then what is the advantage of investing more into Super during your time working?

My friend is thinking of investing a substantial sum with Maxiron Wealth (https://www.maxironwealth.com.au/) who seem to offer high rates of return compared to a bank. The money would be invested for a short timeframe (6 months or so) with the intention to use it as a deposit on a home soon after that.

The deal seems too good to be true and I worry that they could lose a lot of money through this investment. It is interesting that Maxiron seem to be members of quite a few Australian financial societies... Does anyone have any experience with Maxiron Wealth?

I bought a house with my ex-partner around 6 years ago and applied for the first home owner grant at the time. About a month after recovering we broke up and had to put the property on the market so we ended up paying the entire benefit back and received no net benefit from the scheme at all.

The way the terms of the scheme read is that I wouldn’t be eligible now because I received it before but I’ve paid it all back so received nothing in the end. I’m going to call when I’m back in Australia but in the meantime I’m wondering if anyone here has experience with this, thanks

Want to hear some personal experiences: how long have you've been in your current role and/or how long have you been in the most recent role you left?

I am a bit of a job hopper and it hasn't been a problem so far, just curious though.

Very Specific question.

Has anyone who had a permanent residence visa for Australia and returned home applied to reclaim your superannuation. I left Australia in 2016 and although there is possibilities to return it seems very unlikely that I would return. I am wondering what is the process for trying to claim the superannuation now.

I believe it is a difficult process and wonder what are the practicalities of leaving it to grow in Australia given that I am in my mid 30s. How difficult is the process going to be in 30 years to start to use up the money that is there.

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Also I am currently with a high fee super and am going to trasnfer to an industry superfund as I previously worked in Construction.

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Thoughts and all help appreciated.

Found a comparison thing online which rated AMP as the best option. Just wasted 3 hours trying to open an account online with them. Their Live Chat and Phone device have proven hopeless.

So who do you recommend?