Major bank tightens screws on interest only loans

Major bank tightens screws on interest only loans ANZ said it will be regarding all interest-only loan renewals as credit critical event requiring full income verification effective 5 March. In a broker update last week, the bank said the change covers borrowers shifting from P&I to IO repayment type and those extending their IO terms. [...]

Changes to Domestic Building Insurance from 1st July 2017

From July 1 2017, the administration of Domestic Building Insurance (DBI) is changing and it is important to be aware of how this affects you and your construction business.   Background In Victoria, it is mandatory for builders to purchase DBI (previously known as Home Warranty or Builder’s Warranty Insurance) for all domestic building projects [...]

2017 Federal Budget Analysis

First home savers, downsizers and small business are the winners in Treasurer Scott Morrison’s second Budget – while taxpayers face an increase in the Medicare levy. Note: These changes are proposals only and may or may not be made law     Superannuation Contributions from downsizing the home Date of effect: 1 July 2018 Individuals [...]