News

Financial hardship reforms have now been implemented as of the commencement of the new financial year. This means financial hardship arrangements shall now be reflected on your client’s credit reports allowing lenders further insight into your client's creditworthiness. The new reforms will allow mortgage brokers to be further informed regarding…

As part of the 2022 Federal Budget, the government announced a one-off $420 ‘cost of living tax offset’ for 2021-22, which effectively increases the maximum offset for the Low and Middle Income Tax Offset (LMITO) from $1,080 to $1,500. The table below shows the value of tax relief from the…

Wow, it’s nearly the end of the tax year for 2021 – 2022, and this can only mean one thing; it’s almost time to lodge your tax return! Before you do, here’s a few things to consider… The ATO recently announced that there would be four focus areas on their…