We’re Having Trouble Saving for a home - Any Suggestions?
March 7, 2008 by Josie Kay · Leave a Comment
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Q. My wife & I are finding it very difficult to save for a deposit on a new home. Any suggestions?
Josie’s Answer - This is a very daunting task considering that most new borrowers need to save approximately 10% of the home value in order to get into their first home.
You should you think about opening a high interest savings account (see Rate City) and have a portion for your salary (at least 10-20%) automatically transferred into this account each month. Read more
Am I Eligible For Super Co-Contribution?
March 7, 2008 by Josie Kay · 4 Comments
Q. I am eligible to receive the $1500 superannuation co-contribution from the Government during the 2007/08 year. When will my superannuation fund receive the payment?
Josie’s answer - The co-contribution is payable when a few administrative processes have been completed.
Firstly you need to lodge an income tax return with the ATO as they need to confirm your total income was less than $28,980 (assessable income, plus any fringe benefits). Read more
Investing in the Australian Sharemarket
Q. Do you think people should put some of their hard earned money into the Australian share market?
The share market does go up and down and that can be nerve racking for investors, simply because everyday on the television the All Ordinaries Index, which represents the top 500 companies is broadcast nationally. Immediately, you will get that warm and fuzzy, sometimes euphoric, but at the other times that glum feeling. Read more
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