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Questions tagged [australia]

For questions that relate to the laws, practices, and products of Australia.

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2
votes
2answers
249 views

What is the most common and profitable investment for a good retirement in Australia?

I've seen a whole lot of questions in this website about good retirement investments in a range of countries, but none asking about Australia. Let me explain a little further my doubts: I'm currently ...
2
votes
1answer
736 views

What does it mean when a company will be conducting a non-renounceable entitlement offer?

Recently, a company (ASX:CTM) released a non-renounceable entitlement offer. What does it mean in general, and what does it mean for a shareholder like me? There seems to be a problem with the ...
1
vote
1answer
122 views

Dollar transfering from australia to India and back to Australia

If I send Australian Dollar to FCNR in India, which I have already paid tax here, then when I bring back the same amount to Australia in a few years, do I have to pay tax again here?
8
votes
4answers
3k views

In Australia, how to battle credit card debt?

I have $18K in credit card debt. What are my options in tackling this? Every month I am left with no extra money to pay anything more than minimum payment required (car, rent, another personal loan, ...
9
votes
1answer
322 views

Does being on the board of a bankruptcy-declaring company affect my credit rating?

If I am on the managing board of a company which declares bankruptcy, will it affect my personal credit rating? I am particularly interested in Western Australia.
0
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1answer
695 views

What are the consequences of being classified as a day trader, in Australia?

I read in a question here advice on how not to be labelled as a day trader. I trade quite often, but not as much to be labelled as a day trader based on what I read, but I'd still like to know what ...
1
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2answers
3k views

Cheapest/easiest way to convert AUD to USD on a short-term (2-3 month) basis

I am moving from Australia to the United States soon. Most of my cash is in AUD. When I arrive in the USA, I will be spending in USD. The AUD has been weakening substantially recently against the ...
4
votes
1answer
192 views

Are there disadvantages to day trading ETFs?

I bought an ETF a few months ago and I was thinking of selling it, however, I was wondering if there were disadvantages or additional fees if I treated ETFs like short term stocks.
3
votes
1answer
772 views

How secure is payWave debit card compared to a chip-and-PIN one?

My bank in Australia (SuncorpMetway) just issued me a new payWave Debit card (VISA) to replace my old/expiring savings account card. My old card required a PIN for any withdrawal or purchase. I ...
2
votes
2answers
1k views

What makes an effective and profitable trading system

What should I aim for to achieve an effective and profitable trading system? Should I aim to get as high a percentage of winning trades as possible (ie. 100% winning trades)? Also what percentage ...
5
votes
1answer
230 views

Investment options in Australia

I am an Australian PR and say I have 10,000 AUD in my savings account. Currently my bank offers a 4% interest rate credited monthly to my account. I do not need access to this money for another 2 ...
3
votes
1answer
809 views

Here's my plan for saving up for a house - What can I do to improve?

I'm 20 and I'm from Australia, have about $8000 saved up for my mortgage fund, hoping to get a hefty sum for my downpayment when I plan to buy a house in the future. The $8000~ savings came from my 6 ...
1
vote
1answer
130 views

Having more tax deductables than tax paid

my income for 3/4 of the year is tax exempt, being in the form a scholarship living allowance. I expect to have many more deductible expenses, than the amount of tax I will pay. Particularly since I ...
10
votes
4answers
322 views

What does it mean for a normal citizen like me when my country's dollar value goes down?

I live in Australia. From what I can see in the past few years (and still ongoing), the AUD value just seems to go down. Right now, 1 AUD=0.86 USD, and from what I've read in some websites, it's ...
1
vote
2answers
350 views

How much do I ACTUALLY pay when I am going to buy a car?

I am an absolute noob with cars. I have no passion or experience with them, but I acknowledge that they are a great asset for life improvement in general, and I am planning to buy one soon. However, ...
3
votes
1answer
77 views

Risks in investing savings into retail superannuation in Australia?

What risks are there if I invest all my savings into retail superannuation? I'm still working part time, in my 60s, but would like to get a regular (pension type) income tax free, from investing in a ...
1
vote
1answer
103 views

What special rules, if any, need to be followed for US citizens to put money in Australian savings accounts?

From a few recent questions, I have seen that current (as-of Oct 2014) rates on savings accounts in Australia are in the 3.5% ballpark. This is about 30x higher than in the US. What would I, as a US ...
5
votes
2answers
813 views

What factors should I consider when evaluating index funds?

Thanks to the people who answered in this question, I've decided to educate myself with index funds and to engage my mortgage preparation funds in them. There are several choices for index funds. ...
10
votes
4answers
1k views

I'm 20 and starting to build up for my mortgage downpayment, where should I put my money for optimal growth?

I have no credit, no loans, and am a contractor for $40/hr at a company and I expect to work here for quite a while (job security should be above average). Every week, I allocate $300 to my Mortgage ...
1
vote
1answer
118 views

What are my investment options in Australia?

My current bank offers a 3.63% interest rate. I have about $7k in flexible money that I could put in potentially good investments. Right now, I'm only familiar with Term deposits, the stock market, ...
0
votes
1answer
129 views

If my annual taxes are less than $18.5k, does it mean I get to refund them all?

I've just started working in Australia and the way taxes work here are quite new to me. I've read somewhere (can't find the link!) that the maximum tax refund you can get per year is $18.5k. Does ...
5
votes
1answer
729 views

Am I putting myself at any security risks by putting all my money in one bank institution?

Currently, I'm putting all my savings into one bank institution, but spread into several accounts. Are there any security risks in this approach? It is convenient for me as all my money can be ...
2
votes
1answer
2k views

Does a falling dollar mean doom for real estate?

The Aussie dollar has started its downward trend and is predicted to go down to USD 70 cents. I was planning on purchasing a property for myself to live in. However, members in public forums are ...
3
votes
2answers
461 views

How can I use the equity out of my current property to purchase another one?

I got out a $200,000 loan for a property that is valued at $270,000. I managed to get the property for $250,000 and I threw $50,000 at the deposit. Therefore, I currently owe $200,000. I purchased ...
2
votes
1answer
522 views

How to properly understand international wire transfers?

I am having a ridiculous time with international (inwards, to Australian account) wire transfers. They have about a 50% chance of succeeding, and I don't know who is being honest with me when things ...
4
votes
2answers
735 views

How can I manage my Credit Card Debt in Australia?

35K in credit card debt and personal debt (17K Credit Card 16% interest rate, 18K Personal Debt,Variable Rate 5yrs & 8mths remaining). I used the advice in Battling the credit car debt in ...
1
vote
2answers
334 views

Online brokers with a minimum stock purchase lower than $500

Right now I am considering starting investing in stocks on my own and using the Commonwealth Bank Comsec to do it. What's stopping me is not the $20 brokerage to buy, and then another $20 to sell. ...
9
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11answers
3k views

Trouble sticking to a budget when using credit cards for day to day transactions?

I recently got a credit card which is linked to an airline, and has a flyer points program for every dollar spent on the card in each billing period. Wanting to make the most of this, I started using ...
4
votes
1answer
292 views

What are the costs of using home equity to invest in another property?

I'm wanting to find out some details of using the equity I have in my home to invest in another property. Specifically, about the costs of the loan(s) involved. I'm currently assuming I need a ...
5
votes
1answer
10k views

Claiming business expenses for a business with no income

I'm currently working on a web application on the side to turn into a business one day. I probably spend upwards of 20-30 hours a week working on it (I would like to spend more but not ready to quit ...
4
votes
3answers
262 views

Is it wise to switch investment strategy frequently?

I am young and have many many years before retiring, so people always advise me to choose a high risk/growth strategy for my super. Ok, say i accept it, then my question is: Is it worth switching ...
0
votes
1answer
516 views

How can I know the minimum due credit card payment and date for an ANZ Visa card?

I have a Visa credit card from the ANZ bank in Australia. I'm currently overseas so cannot visit a branch and would like to avoid international phonecalls so I'm using only Internet banking and email. ...
2
votes
1answer
114 views

What do the proposed changes to FOFA mean for consumers obtaining Financial Advice?

The Australian Federal Government is proposing to make changes/rollbacks to some of the new FOFA (Future of Financial Advice) legislation for Financial Planners. If the changes get through parliament, ...
2
votes
3answers
2k views

Can used books bought off Amazon be claimed as a tax deduction in Australia?

I recently bought some used books on Amazon. The books are directly related to what I do for a living. In Australia, I know that if you have the receipt for books like that, you could claim it as a ...
1
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2answers
127 views

Investment property information resources

I'm thinking of buying some investment property, however I have no idea where to start with it. I understand that there are a few kinds of property investments and a bunch of laws and tax variations ...
-1
votes
2answers
94 views

Where can I find information on Loans in foreign currency for the purchase of property in Australia? [closed]

I am looking for information on what banks, or other financial institutions, allow borrowing of money in their home currencies for the purposes of purchasing property? The type of information I am ...
1
vote
1answer
207 views

How will the New credit reporting rules affect people who are already struggling financially?

With the new credit reporting rules in place in Australia and the implications of having a black mark against your file for just being 5 days late in making a payment, whether it be credit card or ...
4
votes
1answer
311 views

Why do stocks priced above $2.00 on the ASX sometimes move in $0.005 increments?

On the Australian ASX price increments that a stock can move by is determined by the current value of the stock as shown below: Why is it then that sometimes a stock that is currently priced well ...
3
votes
2answers
395 views

Is credit history more important than amount of savings when applying for a mortgage?

I am currently in Australia and fixing to buy a house here. What is given more value when I apply for a mortgage to buy a unit in an apartment: a sound credit history, or a lot of savings in the bank ?...
5
votes
1answer
185 views

Superannuation: When low risk options have higher return, what to do?

I have heard many times that if you are a young worker who still has many many years ahead of you before you retire, you should choose a relatively high risk/return investment option for your super, ...
1
vote
1answer
121 views

What are the tax ramifications of an Australian citizen purchasing mortgage notes secured by California real estate?

I an an Australian citizen, and I am interested in purchasing mortgage notes secured by California real estate. The payments are tendered monthly. What are the tax ramifications in the US? Is there a ...
2
votes
1answer
63 views

In Australia how are medical costs calculated?

I have a young family and my wife and I are under the assumption that if a major surgery needed to take place that costs are covered by the government. I would like to understand what the situation ...
2
votes
1answer
109 views

Can I transfer my West Australian rock lobster quota units into my SMSF?

Is it possible to transfer my pre-owned Western Australian Rock Lobster fishery quota units into my existing SMSF?
2
votes
0answers
122 views

Investing in DHA property in Queensland

I was interested in investing in DHA (Defence Housing Australia) properties in Queensland. Does anyone who may have any DHA investment properties within Queensland know how these properties have ...
5
votes
3answers
192 views

Deciding on whether to redraw from mortgage

I'm trying to work out whether or not there will be any benefit in redrawing from my mortgage to pay off my car loan. The idea is that if I pay off the loan, I can use the monthly car payments as ...
4
votes
1answer
4k views

Am I able to conduct a private sale of public shares at a price that I determine?

I was wondering if it were at all possible to sell my own shares to someone specific at a price I determine? Let's say I have $1,000 worth of an arbitrary publicly traded company and I wanted to sell ...
1
vote
2answers
126 views

Have house price growth exceeded rent yield in Australia in the last five years (2005 onwards)?

I started renting possibly about five years ago. I'm not sure if the rent price has gone up or down. I'm actually paying more then than I was now, but the place I am living in now is in the suburbs ...
3
votes
1answer
190 views

What are the tax implications of purchasing mutual funds in the US with Australian dollars?

I am a dual citizen of Australia and the US, and a resident of the US. I have some savings in Australia that I would like to use to purchase mutual funds in the US. If I make the purchases using ...
-3
votes
1answer
554 views

Money transfer from Australia to India - avoid receiving ends service tax

How to avoid service tax at receiving bank in India
2
votes
1answer
1k views

Can I transfer my investment property into a SMSF?

I have two existing investment properties which I am looking to hold for the long term, basically to provide me with rental income in my retirement. If I set up a SMSF can I transfer these properties ...