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home loan

How to save a much larger home deposit

Home Loan

How to save a much larger home deposit

10/09/2020
  When you are thinking about your first home, finding out that you should be thinking about saving for a 20 percent deposit can seem really overwhelming. Rands Financial Services is experienced in working with lenders where a minimum deposit required on some products can be as little as five percent of the purchase price […]
Melbourne Mortgage Broker (2)

The Tomorrow of Mortgage Areas

First Home Buyer, Home Loan, Interest Rate, Loans, Mortgage Broker

The Tomorrow of Mortgage Areas

06/09/2020
Australian mortgage arrears are expected to increase nationwide in coming months as rising unemployment flows through onto debt serviceability. Standard & Poor Global Ratings forecasts that property prices could fall 10 per cent from the onset of the pandemic, and that arrears are likely to vary by state and territory, reflecting different economic recovery paths. […]
Accountant Berwick

Tax time Myths You Should Know

Tax Advice, Tax Return

Tax time Myths You Should Know

20/08/2020
“Every year we see people tripped up by tax time myths. Unfortunately, this often results in slowing their return down when either they or we realise their mistake as the return is processed,” assistant ATO commissioner Karen Foat said.“Where it doesn’t delay the initial return, it can result in a surprise tax bill later on.”She […]
mortage broker melbourne.jpg

3 Reasons Why the Coronavirus Crisis might Fix Housing Affordability – Contd…

First Home Buyer, Home Loan, Loans, Mortgage Broker

3 Reasons Why the Coronavirus Crisis might Fix Housing Affordability – Contd…

15/08/2020
Read the previous chapter here Secondly Immigration has been a big driver of property prices and it’s taken a huge hit and may take a long while to recover. Thanks to travel bans, net immigration is likely to have fallen to just below 170,000 in 2019-20 and to around 35,000 this financial year from 240,000 […]
3 Reasons Why the Coronavirus Crisis might Fix Housing Affordability

3 Reasons Why the Coronavirus Crisis might Fix Housing Affordability

First Home Buyer, Home Loan, Interest Rate, Loans, Mortgage Broker

3 Reasons Why the Coronavirus Crisis might Fix Housing Affordability

14/08/2020
The hit to the economy from coronavirus is bigger than anything seen in the post-war period. While most of the activity hit by lockdowns should bounce back once the virus is brought under control some things will take longer to recover (eg, travel & tourism), some will be permanently changed forever (with eg, a big […]
Tax_tips_for_teachers_855_513_60

The Tax Office is watching your work-related deductions this tax time

First Home Buyer, Home Loan, Tax Advice

The Tax Office is watching your work-related deductions this tax time

13/12/2019
The Tax Office keeps an eye on its reported “tax gaps”, which represent the gap between taxes paid, and taxes owed but not paid. Its latest update shows a $1.8 billion gap in corporate Australia, and an $8.7 billion gap among individuals.  The biggest revenue gap is constituted by individuals, and the Tax Office has long […]
hand-holding-banknotes-with-items-around_1223-37

MAKE SURE YOU PAY THE CORRECT COMPANY TAX RATE AND APPLY THE CORRECT RATE FOR IMPUTATION

First Home Buyer, Home Loan, Tax Advice

MAKE SURE YOU PAY THE CORRECT COMPANY TAX RATE AND APPLY THE CORRECT RATE FOR IMPUTATION

12/07/2019
Most companies with an aggregated annual turnover of less than $50 million will pay tax at 27.5 per cent in 2018-19. Nevertheless, some companies with a turnover below $50 million will continue to pay tax at 30 per cent, particularly companies that earn nearly all their income from passive investments such as rental income or […]
7 service

Are you planning to own a home? – Then read this for key guidelines.

First Home Buyer, Home Loan, Loans

Are you planning to own a home? – Then read this for key guidelines.

02/05/2019
Purchasing a property could be a challenge. You may arrange your finance first or shortlist a property to purchase. You could indeed consider cut down your expenses with the goal of saving your deposit because you know owning a property would be impractical without saving in your hand. Irrespective of your approach, an acquisition of […]

Negative Gearing and CGT Proposal

Tax Advice

Negative Gearing and CGT Proposal

30/03/2019
Labor confirms 1st January 2020 – start date for negative gearing and CGT proposal. Labor has announced that it will implement its plan to restrict negative gearing to new investment properties and halve the capital gains tax discount from 1st January 2020. The date, announced by shadow treasurer Chris Bowen, will limit negative gearing to new housing, […]

Why you should use a Mortgage broker?

Loans

Why you should use a Mortgage broker?

15/02/2019
There are myriad of benefits of using a mortgage broker to help you to find the best home loan which suits you. Mortgage Brokers work around your clock Mortgage brokers are generally willing to make appointments at a venue and time which suits you. This might be after work hours or on weekends. This is […]

Breaking News.The Reserve Bank of Australia has announced its official cash rate decision for October following its monthly board meeting.

Loans

Breaking News.The Reserve Bank of Australia has announced its official cash rate decision for October following its monthly board meeting.

02/10/2018
The Reserve Bank of Australia has announced its official cash rate decision for October following its monthly board meeting. The central bank announced that it has once again held the official cash rate at the historic low of 1.5 per cent. Prior to the RBA ‘s announcement, economist at Corinna Economic Advisory, Saul Eslake, noted […]

Find out if you are eligible for a first home buyer grant or other incentives such as stamp duty reduction

Loans

Find out if you are eligible for a first home buyer grant or other incentives such as stamp duty reduction

25/09/2018
Did you know? You may be eligible for a first home buyer grant or other incentives such as stamp duty reduction. First home owner grant explained for Victoria and the Australian Capital Territory. Just like New South Wales and Western Australia those within Victoria and our nation’s capital are eligible for a $10,000 grant with […]

RBA keeps cash rate on hold at 1.50

Loans

RBA keeps cash rate on hold at 1.50

04/09/2018
A week after the first of the big four banks moved out of cycle from the official cash rate and increased costs for borrowers the Reserve Bank of Australia (RBA) has kept the cash rate on hold at 1.50%. Governor Philip Lowe had this to say in his official statement: “Conditions in the Sydney and […]

Part 3 – How we helped a young family (Tim & Christina Phillips) to buy an investment property and save several thousands.

Loans

Part 3 – How we helped a young family (Tim & Christina Phillips) to buy an investment property and save several thousands.

08/08/2018
Continued from previous blog post…. The client has read a real estate article which says to get the investment property loan as an Interest only repayment to take more tax advantages. Tim was further convinced that he could save  %%EDITORCONTENT%%nbsp;484 per month which he could use to pay off the home loan and save home loan […]

Part 2 – How we helped a young family (Tim & Christina Phillips) to buy an investment property and save several thousands.

Loans

Part 2 – How we helped a young family (Tim & Christina Phillips) to buy an investment property and save several thousands.

22/07/2018
Continued from previous blog post…. Investment Property – The client wanted to purchase the property under Tim as Tim is in the higher tax bracket. Though this looks like a smart decision in short run, we had a different argument. When selling the property, Tim will have to absorb the entire capital gain to his taxable […]

Part 1 – How we helped a young family (Tim & Christina Phillips) to buy an investment property and save several thousands.

Loans

Part 1 – How we helped a young family (Tim & Christina Phillips) to buy an investment property and save several thousands.

12/07/2018
Phillips family found us through a family friend, who bought the first home using a mortgage arranged by us. Phillips’ objective was to buy an investment property & reduce the interest cost of the current home loan.Phillips family found us through a family friend, who bought the first home using a mortgage arranged by us. […]
Mortgage Broker Narre Warren Best Home Loan Rate

How to select a Mortgage Broker?

Loans

How to select a Mortgage Broker?

10/07/2018
Who is a mortgage broker? The role of a mortgage broker is to help clients choose between several loan options according to their suitable needs. Most of the brokers out there, don’t charge fees, instead, they decide to receive payment in the form of commission from lenders.  Brokers have a legitimate obligation to make sure […]

Real Client Scenarios – Effective Savings on Home & Car Loan with our Refinance Service

Tax Advice

Real Client Scenarios – Effective Savings on Home & Car Loan with our Refinance Service

09/07/2018
Real time case study of Belinda* (real name changed for privacy purpose) Belinda* had a home loan and a car loan SCENARIO Real time case study of Belinda* (real name changed for privacy purpose) Belinda* had a home loan and a car loan. Home loan was $602k. Monthly mortgage payments to bank =          $3,471 Car […]

Early Access to Superannuation

Tax Advice

Early Access to Superannuation

04/07/2018
Read this before you fall prey to illegal operations Australia has strict rules in place surrounding access to superannuation and there have been reports of taxpayers being targeted by dodgy operators who are promising early access to superannuation for a fee. There are very limited circumstances where the law allows you to access your superannuation early and […]

Find out what changes for you from 1st July 2018

Tax Advice

Find out what changes for you from 1st July 2018

27/06/2018
Australian consumers must pay a 10% goods and services tax on all online goods bought from overseas From 1st July 2018, Australian consumers must pay a 10% goods and services tax on all online goods bought from overseas, bringing online purchases inline with tax requirements on goods and services purchased in Australia. All goods and services, including digital products and services, […]

Tax Time is almost here

Tax Advice

Tax Time is almost here

25/06/2018
Are you or your business legally and legitimately reporting all income this financial year Tax time is almost here. Now is the perfect time to start gathering your documentation relating to income, investments and deductions that will assist your individual tax return. Tax returns can be submitted from 1st July, however, most information from employers, banks and […]

Cash or No Cash

Tax Advice

Cash or No Cash

21/06/2018
Ensure your business is legally and legitimately reporting all income this financial year Cash is often used legitimately to pay for goods and services. However, it is illegal for people to use cash economy activities to hide income and avoid tax and superannuation obligations. Cash economy activities include businesses ‘skimming’ it’s takings, paying ‘cash-in-hand’ wages, […]

Rands Unique Business Proposition

Tax Advice

Rands Unique Business Proposition

19/06/2018
Tax Accounting for small businesses   At Rands Financial Services, we specialise in working with Australian families and small businesses and navigate them through the ever changing world of Tax & Finance.   What does that mean for you? We spend hundreds of hours each year analysing current and new tax laws to make sure we […]

Small Business Affordable Tax Solutions

Tax Advice

Small Business Affordable Tax Solutions

18/06/2018
Small Business Affordable Taxation Solutions   We offer efficient and affordable taxation solutions for your business including: ✔️ Business Tax Returns from $200.00 ✔️ Partnership Tax Returns from $300.00 ✔️ Company Tax Returns from $750.00 We’re heading into our busiest time of the year, so don’t delay, contact us on 0434 391 331.  

Budget – What you need to know!

Tax Advice

Budget – What you need to know!

12/06/2018
Removing tax deductibility of non-compliant payments.   Budget, what you need to know- Removing tax deductibility of non-compliant payments. Where an employer fails to withhold an amount of PAYG from payments to an employee or to a contractor (where no ABN is provided), a deduction for the payment will be denied. This measure will commence […]
Tax Time

Tax Time is coming!

Tax Advice

Tax Time is coming!

12/06/2018
If you’re a business owner, it’s time to start thinking about your company tax return. Tax time is coming! If you’re a business owner, it’s time to start thinking about your company tax return. Spending a little time getting your company tax information in order now can save you plenty of time in a few weeks. What […]

3 Tax Time Benefits to maximise your end of financial year small business success.

Small Business

3 Tax Time Benefits to maximise your end of financial year small business success.

03/06/2018
Do you want to maximise your tax time benefits with Rands Financial Services We are getting closer to that busy time of the year again: Tax Time. If you are a small business, it’s time to balance the books, organise your receipts and go shopping!The Government’s $20,000 tax deduction initiative is one of the best […]

Victoria’s fastest developed suburbs

Home Loan

Victoria’s fastest developed suburbs

30/05/2018
Victoria has recorded the fastest growing suburbs & Melbourne has grown by 2.7% The growth in Australia’s population is mainly driven by increased birth rates and increased overseas migration. So what are Australia’s fastest and highest growth suburbs to cater this growth? Victoria has recorded the fastest growth in the last two years according to […]
Sole Trader

Sole Trader or a Company

Small Business, Uncategorized

Sole Trader or a Company

28/05/2018
Sole Trader or a Company – What is the best way to operate your business The difference between a sole trader and a company starts from the decision-making process. The Corporations Act sets out how a company is to make decisions. Most of a company’s decisions are to be made by the company’s directors. But […]

Budgeting Tips

Uncategorized

Budgeting Tips

21/05/2018
Budgeting tips to ensure your finances are more efficient Half of working Australians are failing to save anything each month and 43 per cent are living pay check to pay check, according to a recent study. Those who do spend more than they earn are overspending by an average of $613 each month. With 74 […]

‘More of a buyer’s market’ tipped for Melbourne in 2018 by experts

Interest Rate, Loans

‘More of a buyer’s market’ tipped for Melbourne in 2018 by experts

21/01/2018
Samantha Landy29 DEC 2017 First published in www.realestate.com.au BUYERS rejoice — Melbourne’s roaring property market has been tipped to “come off” a bit in 2018.Experts say some heat came out of the market at the end of this year, with auction clearance rates dipping into the 60 per cent-range, suggesting formerly seller-biased conditions had swung […]
Mortgage Broker Narre Warren Best Home Loan Rate

How to select a Mortgage Broker?

Loans, Mortgage Broker

How to select a Mortgage Broker?

15/12/2017
 Who is a mortgage broker? The role of a mortgage broker is to help clients choose between several loan options according to their suitable needs. Most of the brokers out there, don’t charge fees, instead, they decide to receive payment in the form of commission from lenders. Brokers have a legitimate obligation to make sure that you […]
Mortgage Broker Narre Warren

RBA decided to leave the cash rate unchanged at 1.50%

Interest Rate, Loans

RBA decided to leave the cash rate unchanged at 1.50%

05/12/2017
    The low level of interest rates is continuing to support the Australian economy.  The RBA Board judged that holding the current monetary policy would support the sustainable economic growth and achieve the inflation.The global economic conditions have improved over 2017 and infrastructure development and property construction have boosted up the Chinese economy. As per the recent data, […]
Tax Accountant Narre Warren

Tax Return Deadline – 11 Days More – Register with us and we will manage it

Loans, Small Business

Tax Return Deadline – 11 Days More – Register with us and we will manage it

20/10/2017
   Have you lodged your 2017 Tax Return yet?  If not you are amongst most of Australians? It is important to lodge your Tax Return on an accurately and timely manner or expose to penalties imposed by ATO. This is paramount important for Business Holders. If you need any assistance in filing your Tax Return, call us […]
Early Access to Superannuation

Benefits and Risks of SMSF

Tax Return

Benefits and Risks of SMSF

25/07/2017
Self-Managed Super Fund-(SMSF) is becoming popular amidst Australians. The aim of this Video to give a snap shot about what are the benefits and risks of SMSFs. If correctly evaluated one’s financial circumstances and objectives, SMSF can act as a great Retirement Plan. Through SMSF, you could invest directly in property and accumulates wealth when […]

Smart strategies to buy a home

18/05/2017
It is peak time to buy your new home, win yourself a good deal with these smart strategies to find the property that is right for you and your budget. 1. Organise your right expertise to move fast First , talk to us about getting your home loan pre-approved. Home loan pre-approval helps you know […]

Interest Rates and Property Market in 2017

10/01/2017
There is a likelihood that Australian lenders will continue to increase interest rates throughout 2017 with increasing funding costs and possible rise in the local cash rate. The US Federal Reserve lifted its benchmark interest rate by a 0.25 percent to a range of 0.5 to 0.75 per cent. This is its first move in […]

Investors drive rise in housing credit

Loans

Investors drive rise in housing credit

02/11/2016
New research has revealed that investor housing credit has been accelerating over the past six months and in September posted its strongest growth since August last year. According to the latest ANZ Quick Reaction, housing credit grew by 0.5 per cent month-on-month in September. Investor credit increased by 0.6 per cent in the same period, […]

Smart Ideas to spent your Tax Refund

Tax Advice

Smart Ideas to spent your Tax Refund

08/07/2016
Australians have become wed to the idea of getting a tax refund in each year… For some, there is almost a forced savings aspect to the tax refund. They’re essentially letting the ATO hold onto their money because they know they’ll blow that extra cash on their own throughout the year. The challenge then becomes, […]
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