4 minute Read
4 minute Read
Over the last 12 weeks, COVID-19 has made our world a very different place. In response, the government has stepped on an extraordinary scale, we’re tightening our belts, and we’re keeping safe by social distancing. As digital brokers, It’s Simple is grateful that we’re able to continue as normal, just servicing our clients from the comfort of home for now. In case you’re feeling confused by any of the government measures in place, or you’re wondering what your broker or bank is doing to help you, we’ve broken it down and kept it Simple. We’re in it together (apart). For more information, subscribe to our Simple Tips newsletter to download our FREE COVID-19 eBook and budgeting tool, scroll to subscribe.
JobKeeper Stimulus Package
To qualify, applicants need to satisfy age, residency, income and asset tests. Download our eBook here for more information on eligibility.
The historical $130billion JobKeeper Package
The government is allowing individuals affected by COVID-19 to access up to $10,000 of their superannuation in 2019–20 and a further $10,000 in 2020–21. Individuals will not need to pay tax on amounts released – coronavirus amounts are then not taken into account under any income or means tests.
There is an eligibility test for early release of superannuation. Download our eBook here for more information.
Banks are doing more to help distressed borrowers. Download our eBook here to read more.
Many Australians do not know that they do not have to be locked into one bank or one rate for life. Or, they don’t have the time to do their loan homework. You should never stop shopping for home loans, because especially during times of economic crisis, you are likely save on a lower interest rate which can help supplement lost wages or lost savings.
Contact It’s Simple to find out if you could be saving (SPOILER: you are probably paying too much on your mortgage). Or, for more information, subscribe to our Simple Tips newsletter to download our FREE COVID-19 eBook and budgeting tool, scroll to subscribe.
Considering the recent interest rate hikes, more than ever, it’s important to consider all options to avoid paying more on your mortgage. Following the RBA’s 50-basis-point hike in the cash rate on 7 June 2022, it is no surprise that many banks increased their rates as well. Australia’s big four already announced that they would […]
5 minute Read
The Reserve Bank of Australia’s highest single-raise cash rate in 22 years leaves everyone thinking, ‘How can I handle this?’ In a statement made by RBA governor, Philip Lowe, the Board decided to increase the interest rate by 50 basis points leading to the cash rate of 0.85%. So, where does this leave you? Here’s […]
6 minute Read
Prime Minister Scott Morrison has just recently declared that the government’s Home Guarantee Scheme will have higher maximum property prices and more available places per year. From July 1, this price upgrade will qualify houses in two out of five (40%) suburbs nationwide for the scheme. This is up from 24.1% according to analysis by […]
3 minute Read