First Homebuyers in Melbourne Need 5 Years to Save for a Home Deposit

Buying a house in Melbourne is still a huge challenge for many young people. A new report shows that young Melburnians are more likely to take five years to save for a deposit to buy a home in the cheapest suburbs. The report released by the Domain Group looked into the entry-level prices of homes[…]

The New GST Withholding Regime Starts 1 July 2018

The new Federal legislation on the payment of GST in property developments took effect as at July 1st 2018. The legislation is aimed at preventing businesses in the property development area failing to remit the GST to the Australian Taxation Office (ATO) after a sale settles. WHY? New Federal legislation is designed to stop businesses[…]

Reserve Bank Retains Current Official Interest Rate of 1.50%

The Reserve Bank of Australia today left the current official cash interest rate unchanged at its historic low level of 1.5 percent. An earlier survey showed most respondents predicting the current rate to be kept on hold. In his monetary policy statement earlier, RBA Governor Philip Lowe noted that “global economic expansion is continuing, a[…]