If he extends the government’s
This might not seem like a big concern but a little bump in mortgage rates will affect some households so much that even an extra $1080 in the bank won’t offset the rise in their repayments. In Victoria, repayments at the current average variable mortgage rate are $3235 for a new loan. A 25 basis point rise would push up monthly repayments by $88 to $3323. This household would be better off keeping the lamington than without it. But should rates go up by even a small amount more, this saving would quickly disappear.
“Further cementing the lamington into place would be a trade-off ... It would be good for low to middle-income [taxpayers] but it would be a bad thing for those with a mortgage,” he said.
JennieDuke Josh wouldn't have the faintest idea about how solve the problems he created. Josh is the treasurer responsible for racking up the national debt faster than any else in Australian history.
JennieDuke Analysis is wrong. Tax cuts are only for the wealthy who do not spend enough to influence inflation. If most people suffer a tax hike, that will reduce the pressure on interest rates.
JennieDuke doltfromkooyong
JennieDuke So the middle classes with mortgages, peak Coalition target voters, will do worse under his cunning plan.
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Inflation threat poised to kill pre-election tax cut sweetenerTen million low and middle-income earners face a tax increase as the federal government debates whether to extend its $1080-a-year tax offset in next month’s pre-election budget. the lnp offset for tax cuts is ,,wait for it ,,reduced services and puneative measures for the poor , Flaming heck, is Josh so unconnected to the average working person that he thinks this is a good move ?
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Property clearance rates up as buyers ignore interest rate speculationConfident buyers have not let talk of interest rate rises deter them and were out in force at the weekend. The threat of rate rises has people scrambling to buy before their loan ceiling is lowered.
Source: FinancialReview - 🏆 2. / 90 Read more »
Borrowers can handle higher rates, says Bendigo bossBendigo and Adelaide Bank boss Marnie Baker says the lender’s home loan customers and the wider economy can cope with a gradual rise in interest rates. Let's hope so I love that they had to go to bendigo to get someone on record. The big 4 are packing it. They have let borrowers over extend in the name of competition and are afraid of the consequences. She would say that, wouldn’t she?
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Both sides of politics should declare for tax reformScott Morrison and Anthony Albanese must explain why they are putting political expediency before the national interest and the pro-growth solutions for Australia’s tax system problems. Can we just make sure we fix it this time. I don't want to need to look at the. - 1936 - 1997 - 2024 Acts
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Lowe warns of ‘abrupt’ effect from US rate risesThe RBA boss has cautioned that financial markets are at risk of an sudden adjustment if surging US inflation forced the Fed to raise interest rates faster. So pull your sharemarket investments and stash them into property quick smart....... No shit Sherlock, you can’t hold back what everybody else knows. Best being open and honest.
Source: FinancialReview - 🏆 2. / 90 Read more »