Interest rates at all time low
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There is a reasonable chance you have already heard about the phenomenal rates being offered almost across the board now with most banks having rate specials down into the 3%'s.
What you may not be aware of is that you don’t necessarily need to wait until your current fixed rates expire in order to take advantage of these very low rates.
We are already seeing in many cases that people are better to break out now and refix at the lower rate with the interest saving more than outstripping any break fees.
As a personal example yesterday I broke out of a 5-year rate that I had locked down circa 2 years ago for 4.65%. I incurred no break fee in doing so. I then re-fixed at a interest rate of......
As a personal example yesterday I broke out of a 5-year rate that I had locked down circa 2 years ago for 4.65%. I incurred no break fee in doing so. I then re-fixed at a interest rate of......
My two cents on CGT
There is no doubt the Tax Working Group’s recently released interim report is the topic du jour. Accordingly, it is only appropriate that I offer my two cents’ worth, particularly in relation to the comments on a possible capital gains tax.
- The Tax Working Group (TWG) has ruled out a land tax or an inheritance tax, but appears to me to clearly be pushing towards implementation of CGT. They have noted that it is premature to form a view without firstly determining exactly how the tax may apply, but I would be highly surprised if their final report did not support implementation of CGT.
- The TWG is of the view that CGT should apply across assets broadly, so not restricted solely to real estate. It would also apply to shares, intellectual property, goodwill, business assets etc. The one exception to this will be the family home.
Can I borrow money for renovations?
Can you borrow money to renovate?
The short answer – is yes. There are two key ways of borrowing for renovations (large, or small).