Banking and Finance Archives - Page 3 of 4

November 2012: RBA Interest Rate unchanged at 3.25%

At the Reserve Bank meeting today, Tuesday, 6th November 2012, the Board decided to leave the cash rate unchanged at 3.25 per cent. Current Bank Variable Rate Home Loans: NAB: Base Variable Rate Home Loan 6.08% pa Choice Package $250,000… Read the rest

Credit Card Debt

Credit Card Debt per head of Population Latest figures for Australian Credit Card debt are: Oct-2008 $40,029,000,000 Oct-2009 $41,127,000,000 Oct-2010 $43,666,000,000 or $1,958 per head of population Oct-2011 $44,789,000,000 or $1,990 per head of population These figures only include Credit… Read the rest

Australian Credit Card Limit Exceeded Fee

All Credit Cards have a credit limit, but sometimes we overspend and go over that limit. The banks can, and often do, charge us for that little error in our spending. How much we pay will depend on which bank… Read the rest

Australian Credit Card Late Payment Fees

All credit cards have a payment due date every month, and there is normally a penalty charge if you do not make a payment on time. These charges vary from bank to bank. Some examples, current at February 2012, are:… Read the rest

Interest Rate drop November 2011

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 4.5 per cent, effective 2 November 2011. Will the banks pass this on in full ?… Read the rest

Reserve Bank – Cash Lending Rate October 2011

4 October 2011

At its meeting today, the Reserve Bank of Australia decided to leave the cash rate unchanged at 4.75 per cent. Statement by Glenn Stevens, Governor: Monetary Policy Decision At its meeting today, the Board decided to leave… Read the rest

UK Banking for British Expats

There is a certain amount of confusion regarding whether or not a British Expat can maintain a UK bank account whilst living overseas. I know of some people that have told me that their UK bank closed their accounts when… Read the rest

HSBC Bank

HSBC Bank Australia

The HSBC bank in Australia has for a long time been very popular for its NO FEES accounts. Although this type of account is becoming more common with Australian banks these days, there are still some good… Read the rest

Mortgages in Australia

About two thirds of Australians own, or are buying, their own property.

From 1986 to 2006 the rate of Home Ownership has remained at 70%, however, the rate of Home Ownership without a Mortgage has dropped from 39% to 35%.… Read the rest

Reserve Bank of Australia RBA Interest rates – June 2011

On the first Tuesday of each month the RBA decides on the Official Cash Rate, which is the overnight money market interest rate. Any changes in this rate will normally signal changes in the Mortgage lending rates. The rate on… Read the rest

Government Rebates

Government Rebates in Australia Both the Federal and State Governments, and sometimes the local Councils, offer various rebates at various times. Grants are normally available to Australian citizens and permanent residents aged 18 years or over To provide up to… Read the rest

2009 Financial Stimulus Packages

2009 Financial Stimulus Package Where is my Tax Stimulus Payment ? During April and May 2009 the ATO has been sending out the $900 tax stimulus payments, but some people haven’t yet received anything. If you are one of these… Read the rest

Historic Australian Tax Rates

Historic Income Tax rates in Australia

Tax Rates for the year 2014/2015

Taxable income Tax on this income 0 – $18,200 Nil $18,201 – $37,000 19c for each $1 over $18,200 $37,001 – $80,000 $3,572 plus 32.5c for each $1… Read the rest

Medicare Levy and Surcharge

Medicare Levy in Australia

Medicare Levy

A Medicare Levy, currently at 2.0% of income, is charged to Individuals. (From 1 July 2014 the Medicare levy rose from 1.5% to 2.0%) In a similar way to the UK “National Insurance Contributions”,… Read the rest

CPI – Consumer Price Index in Australia

CPI – Consumer Price Index The ABS reports that CPI for the September Quarter 2009 rose by 1.0% This compares to a rise for the previous quarter (June 2009) of 0.5% for 3 months. This will almost guarantee another 0.25%… Read the rest

Credit Cards in Australia – 2011

Credit Cards in Australia

All the Australian Banks offer various options on Credit Cards, some with Low Interest, some with High Interest. Some with Interest Free days, others without. I would consider looking at the following that I have details… Read the rest

Bank Fees in Australia

Australian Bank Fees

Monthly Bank Fees

Many Australian Banks have account keeping fees, commonly $5 per month, although some are Free, so it is worth shopping around. HSBC Bank Australia was a common account for many newly arrived British, as… Read the rest

Australian Bank Fees

Monthly Bank Fees

Education Tax Refund

The Education Tax Refund (ETR) is available for families who are able to claim Family Tax Benefit part A, or a few other benefits, enabling them to claim part of the education related costs of their children. The basic rule… Read the rest

NAB National Australia Bank

National Australia Bank

The National Australia Bank commonly known as the NAB, is one of Australia’s Big Banks. I often recommend them myself these days, due primarily to the no-fee accounts that they now offer, without any strings. They did… Read the rest

Australian Home Loan Mortgage Interest rates 2010

Home Loan Mortgage Interest rates: Australia 2010

The following interest rate chart is to provide an example of the options available for Home Loans in Australia. It shows the rates for one of the banks as at the date shown,… Read the rest