ARCA responds to late payment grace period changes

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Commonwealth Attorney-General, Senator the Hon George Brandis QC, has today requested the Credit Reporting Privacy Code (CR code) be varied so that the five day grace period for late payments recorded on a consumer’s credit report is extended to 14 days. As the CR code developer, ARCA will make an application to the Office of […]

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Financial resilience of Australian law firms under strain

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Local law firms have sacrificed growth forecasts to protect partner profitability in response to challenging economic conditions, according to a study of more than 100 law firms by leading national accounting firm, Crowe Horwath, and the Australasian Legal Practice Management Association (ALPMA). The ALPMA/ Crowe Horwath Financial Performance Benchmarking Study shows that the average profitability of firms […]

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Advice conundrum – Gen Y trust financial advisers but view as too expensive

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When it comes to money and our financial futures – who do we turn to and trust most to give quality advice? According to the 2013 RaboDirect National Savings & Debt Barometer (NSDB), 36% of Gen Y relied on family and friends for financial advice – using their loved ones over a bank (33%), an […]

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82% want US-style home eviction regulation here

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A study by Galaxy Research on behalf of Mortgage Mediators reveals that only 5% of Australians agree with the present practice of banks being able to automatically take possession of a home if a borrower fails to make mortgage payments for two or three months. The majority (82%) of Australians feel that when people can’t […]

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Savers increase their lifeline by 43 days in twelve months

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Survey reveals Australians built up their savings buffer in wake of economic downturn Australians have learnt a valuable lesson from recent tough economic times, and have been busy squirrelling away savings in order to protect themselves from any further uncertainty; RaboDirect research shows. Impressively, almost a third of Australians have a savings safeguard that would […]

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Helping more people enjoy financial freedom

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What many clients want from their relationship with a financial planner is financial freedom, according to 2012 AFA Female Excellence in Award winner, Christine Hornery, director of FMS Group, but that means different things to different people. “For some people, financial freedom might be about accumulating a certain dollar amount but for others it might […]

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Private high school fees are set to rise at least 6 per cent next year

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Private high school fees are set to rise at least 6 per cent next month, prompting parents and grandparents to invest in a unique Australian innovation which is tax-paid and an easily manageable “targeted purpose”  investment. This has been the average level of private school fee growth over a long period in Australia. Austock Life’s managing director […]

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Laughing all the way to the bank

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Survey finds that regular savers are healthier and happier While money itself may not be enough to buy happiness, regular saving habits can literally see people laugh all the way to the bank according to the 2013 RaboDirect National Saving and Debt Barometer (NSDB). The research found that regular savers[1] can bank on happiness and good health, uncovering […]

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Financial advice valued, but rarely sought

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Australians rank the state of the economy as their number one concern, and only half of all Australians feel confident about their financial future. These were some of the key findings from BlackRock’s inaugural Global Investor Pulse Survey released yesterday. The survey of 17,600 respondents, including 1,000 Australians, was commissioned by the world’s largest investment […]

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Australians dreaming of a tight Christmas

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It may be a common gripe that Christmas comes earlier each year but new research has revealed that Christmas budgeting has already been underway in around one in five households since October. The research comes from the 2013 RaboDirect National Savings and Debt Barometer (NSDB), an extensive study of Australians’ attitudes towards money and savings. […]

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