Questions tagged [australia]

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

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5
votes
1answer
311 views

Buying an Investment Property in a Self Managed Super Fund (SMSF)

What is the best way to structure the purchase of an investment property in a Self Managed Super Fund (SMSF)? Now that limited recourse borrowing is allowed in SMSFs to purchase assets such as ...
5
votes
4answers
193 views

Is it best to pay back only the minimal compulsory payments for HECS-HELP student loans in Australia?

I have a considerable amount in student loans by Australian standards. I have multiple degrees and they allowed me to get a job that pays well. With such a job, the Australian government requires me ...
5
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2answers
298 views

How is negative gearing a good thing?

In Australia investors buy investment properties that are negatively geared to save tax. A lot of articles on property investment say that one of the cons of having a positively geared property is you ...
5
votes
1answer
112 views

What solar panel subsidies does Australia have right now?

I'm thinking about buying solar panels for my house. Only thing is I'm not sure whether to wait. I've been told that the value of solar power in Australia has remained largely the same - this is ...
4
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2answers
338 views

Which loan should I offset?

Imagine I have two loans, one is 300k and the other is 50k. I also have an offset account with 35k in it. All income is going in to the offset account and so it should rise rapidly. If i offset the ...
4
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2answers
197 views

How to protect an exchange rate advantage while studying abroad?

I'm an American university student studying abroad in Australia for the next 6 months. Since I've arrived, I've been covering expenses with my US credit card (which has no foreign transaction fee) and ...
4
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2answers
729 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 ...
4
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3answers
806 views

Will I have to pay taxes for Australia if I have an Australian bank account?

I live in New Zealand. I'm doing freelance work for an Australian company. They are not very open-minded in relation to new transfer money methods, they only do it with PayPal or international money ...
4
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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 ...
4
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4answers
317 views

Should I take a personal loan for my postgraduate studies?

About 6 months ago, I embarked on a Master's degree. Prior to this, I did the math on the postgraduate program and set aside about $31,000 on a separate savings account just for the postgraduate ...
4
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1answer
172 views

How frequently is the list of constituents that make up the S&P/ASX 300 updated?

How frequently is the list of constituents that make up the S&P/ASX 300 updated? Is it once a month on the 1st Monday of the month, or daily, etc?
4
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3answers
261 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 ...
4
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1answer
186 views

Best way to pay myself from my company when my marginal tax rate is higher than the company tax rate?

I'm working as an IT contractor in Australia and I'm about to move from a sole trader model to a Ltd company. I'm trying to work out the most tax effective way of paying myself in my own company, for ...
4
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1answer
637 views

How to start buying shares with small amount of money?

I am a new immigrant in New Zealand (NZ) who brought some money (not much though) from back home. Those money are resting in my bank and doing nothing. I want to invest some of them in stock market ...
4
votes
1answer
189 views

Investing savings in the UK vs Australia

I have been living in Australia for 4 years now, and although I don't intend to live here forever, I will be here for the foreseeable future. I have savings in the UK and here in Australia, and am ...
4
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2answers
451 views

What to consider when loaning parents $50k to pay off investment property

I am looking for the potential pitfalls I could be about to fall in, and ways to mitigate them. I live in Australia. My fiancee and I have roughly $100k in savings, which we want to use to buy a ...
4
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2answers
9k views

How can I deposit USD money in my Australian checking account while incurring as small a fee as possible?

I'm moving to Australia next month (from France) and am receiving monthly US dollar checks (from some affiliate marketing activities I have in the US). In Australia, I will have an Australian checking ...
4
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3answers
2k views

Sell anonymously on PayPal

I'd like to sell digital photos through my website using PayPal to help fund my photography hobby. Staying anonymous is important to me, so I don't want my name or address disclosed to buyers. A ...
4
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2answers
218 views

Home loan for Granddaughter

Can I use collateral of my $325000 home which I own in Australia to help my granddaughter buy a house in her name. Can the repayment be structured as Interest Only for initial few years. She is ...
4
votes
1answer
220 views

Is it better to hold cash in a mortgage offest or term deposit account long term?

I am refinancing a variable rate mortgage (current rates are low and expected to fall further in the next 12 months - currently 4.25%). I have a cash sum equivalent to about 20% of the full loan ...
4
votes
1answer
288 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 ...
4
votes
1answer
545 views

Austrailian tax resident earning salary in the UK - how much tax do I pay on foreign income?

I'm British citizen now living in Austraila (NSW) and am classed as a Australian tax resident. I have a full time (remote) job for a UK company who pay my salary into my UK bank account. I pay no UK ...
4
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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.
4
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2answers
955 views

Australian superannuation - simple index fund investments with low fees [closed]

I am a relatively young student with a fairly low superannuation balance. I am not expecting any substantial new contributions to be made to my super any time soon due to my income being largely ...
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 ...
4
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1answer
193 views

Should I put things like Family Payments, Interest on savings .. everything .. under my wife's name for Australian taxation reasons?

so it's tax time again. My wife and I aren't sure who's name/names we should be putting any of our incomes into for Australian Taxation reasons. To keep this simple, I'll use some fake numbers to ...
4
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1answer
415 views

Could someone please provide an example of a portfolio similiar to the GFP or Couch potato, but for Australia?

So I've been reading about MPT and came across the GFP and couch potato sites posted in this link, in any-experience-with-the-gone-fishin-portfolio and wanted to know of anything similiar to the GFP ...
4
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2answers
289 views

How is a lump sum to make up salary underpayment taxed in Australia?

I have been underpaid for a period of over two years. If I am paid the back-pay that is owed to me as a lump sum, is that considered part of my income for the current tax year? If so, that means it ...
4
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1answer
373 views

I was paying my tenants' water usage without realising - how to recoup the money?

I live in Australia. I had some tenants living in my investment property for approximately 18 months (they moved out a few months ago). I have since sold the property and settlement is in a month. I ...
4
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1answer
153 views

Accepting a deposit into my mortgage from a third party and paying them interest

I'm a net borrower with a variable interest rate mortgage secured against my house. Let's say there is $200,000 owing and I'm paying 5% interest to the bank. It has a redraw at-will facility and I'm ...
4
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1answer
715 views

Overpaid Rent Owed By Real Estate

Over the course of my last lease I had overpaid around 2 weeks rent to the real estate. I was notified of this when I moved out, but despite chasing them up about it they have failed to refund me the ...
4
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4answers
361 views

Is buying an apartment a worse choice than renting, currently (2019) in Australia?

For one reason or another, an apartment is considered a bad investment in Australian cities. This is because the demand here isn't huge yet (people in general would rather live outer-city in houses/...
4
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4answers
156 views

How to measure how the Australian dollar is faring independent of the US dollar

When I watch the finance section of ABC (the Australian one) news, they talk about how the Australian dollar is faring against the US dollar plus a handful of other currencies. The problem is, I don't ...
3
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3answers
259 views

Why is the highest quintile the only quintile whose wealth exceeds its income? [closed]

Based on this study, the highest quintile of the population is the only group whose wealth is greater than its income. Why might this be? Is it because they are more likely to inherit wealth from ...
3
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3answers
336 views

What would be a wise way to invest savings for a newly married couple?

My wife and I were married about a year ago and, between us, have just over $150,000 (AUD) in our joint bank account. We're both in our late-twenties and work full time, but have fairly average ...
3
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4answers
54k views

If I pay the balance due, will I pay no interest in that month?

Here's what I have : Total Balance : X Balance Due : X-500 Minimum Payment : 50 If I pay X-500, will I pay zero interest on that month? Or will I pay interest for the remainder of what'...
3
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2answers
275 views

Whom do I pay the rent to?

I live in a house owned 50/50 by a brother and sister. The sister has moved out so it's just myself and her brother and she has asked me to pay rent just to her and her brother to receive nothing as ...
3
votes
2answers
252 views

Is it a good idea to get an principal and interest loan for an investment property?

At the moment, we have an investment property where we're paying 4.5% interest on an interest only loan. I'm considering moving to another bank which offer 3.88% fixed for 2 years but it can't be ...
3
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3answers
23k views

Can I make PayPal release pending balance on personal payment sooner than 30 days?

My uncle and my brother sent me some money over paypal recently, but it says I have to wait 30 days to receive it. It was made as personal payment. Is there any way to get that money any faster? I ...
3
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3answers
302 views

What actions can I take against a bank for lack of customer service?

I currently have a mortgage with a bank. Two months ago, they had an offer to fix our home loan interest rate for a year. We accepted this offer, we signed a document and they signed it too. In ...
3
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1answer
67 views

Tax deduction for donating to international charity

If one sponsors a child from an impoverished country through a charity like Save the Children international, can this contribution still be considered tax deductible in Australia?
3
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3answers
528 views

I plan to buy a car soon and I have the cash. Should I use my credit cards to pay for them?

I have enough cash to pay off a car I'm planning to buy. However, instead of using cash on a debit card, I thought of using my credit cards instead so I can earn points on them. Are there any ...
3
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2answers
389 views

How do I determine how much I can afford for a car?

I make about $70k AUD per year before tax. I currently have $10k AUD on my car fund. What I did was put $500-700 per week on that account, depending on how much I spent on other wants/needs. Now, I ...
3
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3answers
315 views

When the Reserve Bank determines the interest rates, do they take the house prices into account?

My knowledge of how interest rates work (please correct me if I'm wrong) is that it is set by the Central Bank of a country. They're supposed to be apolitical and independent and their decision ...
3
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2answers
190 views

Can I sell my own house? Australia

Are there any laws regarding this. I'm not an agent or anything but I have marketing and salesman experience. Will I be able to list my home privately on websites such as Realestate.com?
3
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2answers
460 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 ...
3
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6answers
1k views

Can business in Australia charge a transaction fee for using a credit card?

Related to the question of whether a merchant can charge you more if you want to use a credit card, I'm wondering if this is a common practice in Australia (and if the question I just linked to is ...
3
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2answers
176 views

How do I protect myself in this situation, and get a receipt for my payment?

Just over 3 weeks ago I bumped into someone's car on accident. There was no apparent damage to their car, but I insisted we exchange details in case. The person refused and said it was all right. ...
3
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1answer
267 views

Buying an apartment block one apartment at a time

Suppose, a person buys an apartment in a small apartment block. At some point of time, other apartments in the block also become available for purchase, at an attractive enough price. So the question ...
3
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2answers
354 views

How should we organize our finances to effectively plan and prepare for an retirement in next 10 years?

How should we organize our finances to effectively plan and prepare for an retirement in next 10 years ?. My personal details are: Age 35, married with a 3 year old daughter IT consultant with a ...