22/09/2022
Welcome back to our Weekly Digest. Read on for the latest updates in tax, accounting and the economy.
22/09/2022
Is the property market about to go haywire again?
A recent report from ANZ pegs property values to drop by an average of 20 per cent before the markets recover. However, with a $3.78 trillion difference between their last forecast and what actually happened, some people are questioning whether these forecasts carry any weight.
Experts warn of a rate cliff for many Australians coming by the end of the year
Borrowers who are on fixed interest home loans that are about to expire could suffer a huge price increase between now and the holiday season. Recent data shows that 25 per cent of borrowers are already struggling to pay their monthly home loan.
Paying off your mortgage is the best move if you can manage it
While it can be tempting to continue with minimum payments on an investment property to gain the tax rebate, you’re really only coming out ahead if you don’t have the equity to pay the mortgage off, or if you are earning more in interest elsewhere.
Australia just might dodge this recession
Despite other developed economies being tipped for recession, we’re sitting in a good position. Because of high export prices and a weak currency, Australia is benefitting from a cash windfall that could see us through.
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