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PMA Finance
09/03/2017
Soaring home prices in Australia’s biggest cities don’t necessarily mean the country is in the grip of a housing bubble, according to the heads of the big four banks. Testifying at the parliamentary inquiry into banking this week, the chief executives of National Australia Bank, Westpac and Commonwealth Bank all said that while they are worried about elements of the housing market, prices aren’t over-inflated. “I would draw the distinction between a speculative bubble in prices and prices beyond what […]
08/03/2017
THE Reserve Bank has left the official cash rate on hold at 1.5 per cent for the sixth meeting in a row. The RBA was widely expected to keep rates steady at its March meeting after the national accounts released last week showed a marked turnaround in economic growth. Reserve Bank governor Philip Lowe last month spoke three times about keeping rates on hold to balance the need to boost inflation while maintaining financial stability amid record household debt. Real […]
08/03/2017
Confused about the conflicting terms that real estate agents use to quote the likely selling prices for properties? Then get set for the uncertainty to intensify – at least for the next few months. Many agents are adopting highly divergent approaches to quoting prices in the countdown period to the Victorian government’s introduction of new laws to clamp down on underquoting by agents. The most widely used terms include “offers above,” “price on application” or no price indication at all. […]
08/03/2017
The majority of countries in the world have a central bank whose role is to maintain economic stability by managing the currency and interest rates, and issuing bank notes. In Australia, this institution is known as the Reserve Bank of Australia, also referred to as the RBA or the Reserve Bank. On the first Tuesday of every month, except for January, the RBA board meets to determine whether it should change the official cash rate. The result usually makes headlines […]
07/03/2017
An estimated 400 restaurants, cafes and hair and beauty salons will get a visit from the Tax Office this month, as part of the agency’s continued focus on the illegal cash economy. The ATO has in recent years stepped up audits of small businesses in high-risk industries, which it suspects may be taking illegal cash-in-hand payments. ATO officers with Asian language skills have been visiting these kinds of businesses in major cities across Australia including Melbourne, Sydney, Gold Coast and […]