Credit Dynamic, which is composed of reputable credit companies and powerful financial groups, is committed to building one-stop professional credit services, including car loans, housing loans, equipment loans, commercial loans and other credit products. Credit Dynamic strives to provide the highest quality credit consulting service and follow-up management service to all Chinese in Australia in line with the enterprise concept of "managing attentively and serving the public".
Will you be the beneficiary of Australia's budget tax cuts?
The election came as Josh Frydenberg, Australia's finance minister, unveiled the latest federal budget and announced an end to debt and deficit.
According to the Budget:
1. Over the next decade, government will ensure improved basic services, address household living expenses and create more jobs through a strong economic program, while generating a surplus. There will be a surplus of A $7.1 billion, or 0.4 per cent of gross domestic product, in the current budget year.
2. Government reduces debt not by raising taxes, but through good budget management and economic growth.
3. Repaying debt, government will make the country's finances more sustainable and lighten the burden on future generations. Net debt is expected to be eliminated by 2029-30 years.
4. Government wants to ensure basic services and national security through the growth of economic. Among them, federal government will invest 100 billion in infrastructure construction over the past decade. Promote airports, roads, high-speed rail and other projects. Reducing urban traffic congestion at the same time pulling into the distance between cities, but also conducive to real estate investment.
More than 10 million taxpayer is expected to benefit and 4.5 million taxpayer will receive full tax breaks. The tax break will boost Australian household income, ease stress on people's lives and increase spending by local businesses.
Since 2018-2019, government's tax breaks for low and middle income have more than doubled. Taxpayer, which earns $126000, will enjoy tax cuts. A family can be reduced by up to $2160. Australia's real estate Commission said the move would help boost consumer confidence and called on lending institutions such as banks to do more to support growth in the housing market.
Cutting the tax rate on small businesses to 25 per cent would increase direct asset deductions from $25000 to $30, 000. At the same time, government will provide $6000 as an export market development grant.
Mark Steinert, chief executive of Australia's realestate giant Stockland, also said budget initiatives such as tax cuts and energy subsidies helped ease rising costs of living for consumers, which in turn helped boost consumer sentiment and a recovery in the housing market.
Do you have a regular "physical examination" on your mortgage?
If you have a mortgage, you pay attention to it: do you give your mortgage a "physical examination" on a regular basis? Take a few minutes to review your mortgage interest rate, and if interest rates are high, consider changing (Refinance), with small interest rate changes that could save you thousands or even tens of thousands of Australian dollars.
Transfer of loans:
Chen and his wife have been struggling in Australia for many years and run several newspapers, and their income is also considerable. They bought a home in Australia before and after, and an investment house is still repaying the loan. The details are as follows:
Self-housing:
1.07m, NAB only pays interest, current floating rate 4.15 per cent
It's still in the loan cycle, and it's been two years.
Investment room:
600 K, ANZ interest rate only, the current floating rate of 5.15%.
The five-year interest-only loan cycle will end in February this yea
After understanding the needs of our customers, we communicated with Mr. and Mrs. Chen. First of all, they want to lower the interest rate on their home loans, which can be repaid or with interest, and want to restart a five-year interest-only cycle of interest-only loans for investment homes, and want to choose lower interest-rate products.
We transferred both of Mr. and Mrs. Chen's mortgage loans to other banks. Since the housing rate fell from 4.15 percent to 3.79 percent, 100 percent hedged, floating interest rates; investment housing restarted five years only to repay interest rates, interest rates fell from 5.15 percent to 4.09 percent, the previous two years fixed interest rates.
A total of $20,000 was saved in two years.
During the loan transfer process, the fees incurred are $350 each for ANZ and NAB discharge, $277.6 for each property, and less than $1300 for the two properties combined. At the same time, the Chen and his wife received a cash refund of $2500 ($1250 per property) through the transfer of the loan, which is equivalent to a surplus in addition to the full cover transfer fee.
Loan transfer benefits
1. The new bank can offer more favorable interest rates and save considerable interest fees.
two. Consider buying an investment house, and the original bank has stricter approval conditions, and Refinance can approve a higher loan amount after it arrives at the new bank.
3. Get the cash remittance provided by the bank, at the same time, you can cover the cost of transferring the loan.
4. Package other loans (personal loans / credit card debt / car loans, etc.) into house loans to reduce interest payments.
5. Through the professional analysis of Credit Dynamic, to provide you with a private customized loan transfer scheme to help you reduce interest rate costs to the highest extent.
If you meet the following circumstances, then the loan will be able to help you:
1. The interest rates of other banks are lower than your current bank interest rates
Your financial situation has taken place a significant change.
3. You need extra money to decorate your home, spend your child's education, or invest in other real estate
4. Switch to fixed rate products at a good time when interest rates are low
5. Merge debt, when you need to use low mortgage rates to pay off high credit card rates
Preparation materials:
1. Passport and driver's license
two. The last two salary sheets
3. Repayment records of ANZ and NAB for the last six months, (Loan Statement)
4. Monthly statement of rental income for investment housing in the last month
5. Other materials that may involve your finance and finance
