Future fund holds a little more than 91 billion dollars to pay the defined benefit pensions to public servants. Over three years, it has returned almost 9.7% annually and over five years, it has touched 8.2% annually. It has beaten its previous record of 7% for three years and 6.8% for 5 years.
With the increasing power prices, many business owners are trying to shift to cost saving methods. Removing carbon tax had no effect on the increasing high power bills. How are you charged? Business units require more power than a household. The size of the business and the number of working hours determines the amount of […]
The all time lowest interest rates in Australia have made the investors to invest heavily in the residential estates. There has been a noticeable price rise in the real estate prices by up to 5 and 3.5 percent in Sydney and Melbourne respectively, over the last quarter. According to Robert Miller, MD BIS Shrapnel, there […]
Jessica Winch and Steve Hawkes of the Daily Telegraph report a rise in energy bills of the British household by an average 9.2 percent. The changes are going to take effect from 23rd of November. SSE hikes its prices Scottish & Southern Energy (SSE) raised the gas prices by 8.4 per cent and electricity prices […]
Reserve bank of Australia (RBA) did not change the October cash rate from 2.50%. RBA has kept the official interest rate unchanged, for two months in a row. Experts say that there will be no more cuts. It will either be the same or it will start to rise. Reason for constant rate In the […]
US shutdown has started from Tuesday, due to the unsettled negotiation between the Republicans and the White House. The US government effectively shut down at midnight in Washington as the two parties did not reach a deal on extending the budget. How will this shutdown affect Australia? For Australia, the initial effect of this shutdown […]
The superannuation industry act of 1993 states that unless the parties are dealing on arm’s length terms, a trustee must not invest. A trustee can borrow from a member of the SMSF on a term of no arm length or more favorable to any other parties. Low or no interest loan The awareness of the […]
Canberra Times’ business columnist Elizabeth Knight recently spoke to David Jones boss, Paul Zahra, about the effect of online shopping on Australian retailers. Zahra said that he believed Australian shoppers hadn’t yet fully realised they were paying more for their online overseas purchases and probably wouldn’t until they checked their monthly credit card statements.
Liberal MLA Giulia Jones has called for the ACT government’s small business loan scheme to be expanded to include stay-at-home fathers who wish to start a business. The scheme provides micro loans of up to $3,000 for low income earners who want to start a business from home. It currently offers funding to a range […]
According to the president of the Real Estate Institute of Australia (REIA), many small businesses are being held back by an inability to obtain adequate finance from lending institutions. Peter Bushby said that research by the ABS showed around 20% of small businesses lack sufficient access to additional funds to grow their businesses.