Rates are going to need to go close to 6% to bring trimmed mean down to below 3% from 3.6%.

CBA said rates hikes were on pause before rate cuts in 2027……then the CPI dropped and actually no, it’s almost certain we are getting a hike at the next meeting.

How many shit predictions by banks and pseudo economists like David Koch and Nerida Consibee before we realise the cash rate needs to go much higher. Yes we have leveraged our economy and enjoyed the dopamine hit of the last 5 years, however the bill is now due and it’s a whopper. The entire economy is a buy now pay later joke.

We deserve this recession that’s coming. I can’t wait for it.

Inflation only goes up

“Its hard to see mortgage rates being cut significantly from here…

Mortgage holders are going to have to adjust to the reality that mortgage payments are going to take up a huge chunk of everyday income”

I’m interested to hear how people are perceiving the medium term at the moment- as in the next few years, not the next few months.

When does it get to a point where people consider selling at a loss to downgrade or move/return to renting to take some pressure off? Or other steps like downgrading to one car? (If havent already).

Looking to move away from Big 4 to local Aussie bank.

Key considerations:

• No offshoring: jobs are kept local as much as reasonably possible. Not offshoring back office roles to Vietnam or India. See https://offshore-watch.com
• Great culture: No point switching to an Aussie bank if they treat their employees like a wet rag. That means courtesy, respect, and generally happy employees. Basing this on Glassdoor reviews.
• Full features: Access to ATMs, no withdrawal fees, no account fees, great customer service, and an intuitive online banking experience.

Not concerned with ethical investments or B corp status as these tend to be misnomers.

Many recommend Bank Australia for its Australian operations and ATM fee refunds, but its online banking is bare bones and its 2.9/5 Glassdoor rating suggests poor management. I’m leaning towards Macquarie for its excellent app, bringing some jobs back to Australia, and fee refunds, and 3.6/5 Glassdoor rating but am aware they have back office roles offshored. The Big 4 offer great access to ATMs, online banking is up there, but they’re offshoring which leaves a sour taste.

Might be asking for the impossible trinity.

Thoughts?

Currently trying for a slight career pivot after finishing a master's degree in a slightly niche field. Seems like a terrible time to be doing this, as the jobs market feels incredibly dry at the moment.

Jobs I've applied for seem to yield no response.

I've even applied for jobs in my current field and haven't heard back about these either!

Going back 2-3 years ago, it felt like I could work basically anywhere I wanted in Australia.

I wonder if perhaps employers (public and private) are kinda frozen at the moment whilst trying to figure out how bad this recession is going to get.

A bit disappointing when I just finished my studies :(

Anyone else noticing this?

Would the RBA be more useless than it already is if we could?

Hi all, having a bby on the way. Wife is out of job in Mar and I’m starting a new contract role of $120k for one year. We have $60k in the offset and additional $70k invested in various ETFs.

Given inflation isn’t looking like it’s going to to go down anytime soon and interest rates are eating my repayment @ 6.39% (rentvestment). Should I sell
Realise CGT and move to offset.

I know it should reach 9.13% to break even (6.39%/70%) even though it’s even lower than that cause I can claim the 6.39% as a deduction.

I’m just wondering at what point the risk is not worth it. I’m on 30% marginal tax rate if it wasn’t clear.

Thanks

Hi all,

First time doing a tax return with betashares investments and after some advice if I'm doing the correct thing.

Context, betashares has provided two statements: annual tax statement and a separate CGT statement (see attached screenshots) and am not sure of overlaps between the two.

The tax statement is prefilled on ATO (with minor cent differences on a few fields) under "managed fund distributions" with income showing as $231 on its summary rolled up screen (No idea where this figure is calculated from).

Now, since CGT is not prefilled I tried to do so with the statement provided in the CGT section. It shows a banner that the managed capital gains of $1262.79 total current year to be included in calculations below. Hence if I verbatim enter $762.94 from CGT statement it does not like it since it's less than $1262.79 and that makes sense.

So which is correct?

$1262.79 current year capital gain

$0 net capital gain

$151 net capital loss carried forward

Or is it as I suspect that there is no overlap between the two and they need to be simply combined?

$2025.73 current year capital gain (adding the two)

$555.87 net capital gain

$0 net capital loss carried forward

Appreciate the help!

I've been completing some small side hustles such as research studies and I'm not sure whether it is considered providing service, but I'll report it in my tax return just in-case. I was wondering whether if I wasn't meant to report it, would they let me know and give me my money back? Thanks!

It appears that indexation creates an ongoing feedback loop. That is, CPI inflation increases excise; the higher excise contributes to higher consumer prices and CPI; and that higher CPI feeds into subsequent excise indexation.

Petrol (excluding diesel) and alcohol excise is approx $15.5 billion, and there are around 21 million Australian over 18 years of age. That equates to on average each Australian over the age of 18 pays $738 in petrol and alcohol excise each year.

I want to use a portion of my redraw on an investment property loan to purchase a car (non business use).

I understand that the interest on this portion will no longer be tax deductible. If its a one off redraw is it that difficult for an accountant to work out.

Is there anything else I am missing.

I've been trying to save more aggressively lately and looking at ways to cut unnecessary expenses and live more frugally.

I'm curious what habits or changes have actually helped people save more money. Whether it's switching providers, cutting subscriptions, spending less on everyday things or changing how you manage your money.

What's something you started doing that made you realise how much money you were wasting before?

I have never used airtasker so would like to ensure I set a fair but also reasonable price!

I am moving 6 minutes between two suburbs very close to each other. Below are the things we need to take:

We need removalists to take and move our big items :washing machine, dining table, two office desks and chairs,  two beds (one king single, and one queen bed - frame partially/fully disassembled). The pickup has stairs only. but the drop off has elevator access.

we were thinking about delegating the smaller boxes and medium sized bags to our family to help take over, but we were thinking of doing it all with the air tasker depending on its cost - I just wonder how much it would add on!

I kindly out the question out to you guys! what do you think the cost of moving should be?

Hi everyone, we were confused by the Medicare surcharge ($202,000 family income + $1500 for each child) and wanted to ask if anyone was in the same circumstance.

We are a household with two kids. We earned just above the medicare levy threshold in the last financial year.

I am a NZ citizen as is both our children. All three of us are on private insurance.

My wife is a subclass 461 temporary resident. She is not eligible for Medicare, nor private insurance except OVHC. She is on an OVHC insurance.

Am I correct in understanding we still need to pay the levy on the entire family income despite everyone being on private insurance as OVHC is not considered as private insurance?

Would be keen to hear anyone who might be in the same circumstances. Thanks so much!

Update: Someone correctly pointed out that I mistakenly wrote 2% in the header, I was meaning the Medicare surcharge (0-1.5%) which applies above a certain family income threshold, not the 2% normal medicare levy.

Only up for interest rates it seems.

Does anyone have any recommendations about establishing a bank account for kids under 5 where family can put money to for gifts etc.?

The majority of businesses have some sort of business loans.

If RBA increases the cash rate, businesses have to pay more interest which increases their expenses. Would they not pass on these additional costs to consumers like any other cost increase that they pass on?

Businesses increasing prices is pretty much the definition of inflation isn’t it?

I guess this is more for supply driven inflation rather than demand driven though.

There seems to be a tidal wave of mainstream PE access on the way, from big and established Vanguard and American Century to smaller Equity Zen, Forge Global, Hiive, Clarity and more recently Revolut.

Given that PE is beginning to go mainstream, what would you think about the idea of a broad market index fund for Private Equity?

Do such funds already exist, and if so, where and how can we access them?

Would you allocate a small % of your net worth to such a fund, just for the sake of diversification? For example, say 99% in a regular public index tracker ETF and 1% in a private equity index tracker?

-----

Note: I'm not interested in influencers' critiques of PE or semantic debates over the meaning of "private". I know this probably won't work out, hence why I'm only considering putting a tiny % in. I just want to know how to get exposure. That's all. Thank you. 🙂

Asking because I saw a similar post.

Early 50's female, 2kids - state public service for 30ish years

Have mortgage $140k left (no offset - paying on own and have been for at least 6 years)

Joint mortgage with ex (separated).

Me = Personal loan $30k

Super (mine) pretty good, and defined benefits

What do you reckon.. pay mortgage and loan? Or put extra into super?

Hi,

My wife passed away in November, after she'd been diagnosed with terminal cancer. She'd recently returned to work after our 6 year old started in school.

She had income protection and death cover through AustralianSuper super. However I've been notified the insurance won't pay her death cover.

Obviously it won't bring my wife back and I would sacrifice anything for that.

But I was going to use the money as start up for my son to use to buy a house when he's older and hopefully to help cover some costs that have racked up.

A grief support charity recommended a legal firm, but they just ignored. Asked cancer Council and they said they couldn't help or recommend anyone. I dont get any replies from any lawyers ive tried to contact.

If you've ever been in this situation of losing a partner, people always say "anything I can do to help, let me know" but when the push comes to shove, you just don't get any help.

I submitted a letter to appeal made with AI but they countered. I've made a further appeal letter but feel this is my last chance.

I just dont know what to do, as if this doesn't get any traction then I'll feel completely rejected. But ive reached out so much for help and not received anything back.

What would you do? Just press send and hope for the best?

I posted a similar thing a few months ago, again didnt get much further.

****update 1: Reason for rejection:

Symptoms prior to cover and not being in active employment when cover started.

My arguments are:

She wasnt diagnosed till after the cover started, oncologist report states a reasonable person or doctor wouldn't have known she had cancer as she had flu symptoms.

She was employed when cover started but had time off between her rostered shifts, as she worked a casual contract. Insurance are saying she wasnt working employer confirms this in their documentation. Su001 separation certificate also confirms this.

Thanks

Just a PSA in case you have forgotten (like me!) - I purchased some income protection through a financial broker a few years ago as the product was only able to be purchased through a broker. I'm not really using the services of the broker much anymore as they only are providing me with a renewal and confirming if my circumstances have/have not changed. I realised I am actually paying hundreds on ongoing commissions and aside from the odd question here and there I realised I don't really need their services and am fine to manage my policies on my own. My insurance advised I need to ask the broker to remove the commission which they have now done. I had completely forgotten about the commission so I thought I'd let anyone know in case they they were in the same boat. The laws changed in 2025 to require increased transparency and disclosure about commissions so of course this was something that had totally slipped my mind.