Podcasts about hecs help

Welcome to the one hundred and forty third episode of the #Expatchat podcasts where we discuss the latest tax and financial issues affecting an #Australianexpat. In today's Expat Chat we discuss what tips and tricks are available for Australian expats with the 2025 end of financial year rapidly approaching. When you move overseas the idea of forgetting all about the dreaded 30th of June end of financial year deadline is appealing however if you still have some economic ties to Australia, whether that is property, shares or superannuation, you still need to consider your financial options as an expat. In this episode we run through the following topics: • Important end-of-financial-year considerations for Australian expats • Importance of lodging tax returns on time to avoid penalties and interest charges • The need to disclose HECS/HELP debts and explore different methods for doing so • Tax deductions, particularly superannuation contributions, which must be made within the next 30 days to be eligible for the current financial year • Rental property deductions, the difference between repairs and improvements • Importance of correctly setting up withholding tax on bank accounts and dividends for non-residents Links that we discussed in this episode include: • Upcoming events - https://atlaswealth.com/events • Facebook Group - Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum • Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/ • Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/ If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below. The Atlas Wealth Group is a specialist in providing tax, financial planning, asset management and mortgage services to every Australian #expat. Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing essential financial services to the expatriate community. The Atlas Wealth Group was born out of the demand from Australian expats who wanted a professional to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas. To find out more about the Atlas Wealth Group and how we can help Australian expats please go to https://www.atlaswealth.com. Make sure you connect with us on our respective social media channels: Facebook: www.facebook.com/atlaswealthmgmt LinkedIn: www.linkedin.com/company/atlas-wealth-group Twitter: www.twitter.com/atlaswealthmgmt Instagram: www.instagram.com/atlaswealthgroup

ஆஸ்திரேலிய அரசு HECS-HELP மற்றும் பிற மாணவர் கடன்களில் 20% குறைப்பு செய்யும் திட்டத்தை நவம்பர் 2024இல் அறிவித்தது. இந்த குறைப்பு 2025 ஜூன் 1 முதல் நடைமுறைக்கு வரவுள்ளது. இதுபற்றிய செய்தியின் பின்னணியினைத் தருகிறார் மகேஸ்வரன் பிரபாகரன்.

HELP debt is now a $80 billion problem for Australia, and it's only getting bigger. Today we dive into how HECS/HELP debt really works, why it's impacting borrowing capacity, and whether the system needs a major rethink. From free money myths to the true cost of uni, we unpack the long-term financial consequences and what needs to change.On this episode, we discuss:(00:00) Intro (00:38) What is Australia's $80 billion problem? (04:05) 7.5% of your income gone to HELP repayments (05:15) The impact of HELP debt on borrowing capacity (07:00) Government wipes 20% of HELP debt-fair or not? (08:10) Is the real issue the cost of education? (09:00) Are uni campuses over-engineered and overpriced? (10:40) Should education be delivered inside businesses? (13:45) A look into homeschooling and self-directed learning (15:45) The lack of financial education at school (16:45) Would we make different uni decisions with better money knowledge? (18:00) What if higher education was actually affordable? (22:05) How the 20% HELP debt wipe will actually workCheck out the free resources from Inovayt here.Send us an email: hello@thenumbersgamepodcast.com.auThe Numbers Game is brought to you by Future Advisory & Inovayt.Hosts:Nick ReillyJason RobinsonMartin VidakovicThis podcast is produced by VIDPOD.

Navigating the mortgage maze feels increasingly complex in today's economic landscape. But what if unlocking significant borrowing power was simpler than you thought?Mortgage broker Zach from Shaw joins us to reveal game-changing "100K Hacks" that could dramatically increase your borrowing capacity. Did you know that a $10,000 credit card limit—even with zero balance—can reduce your borrowing power by up to $50,000? Or that different lenders assess self-employed income and business liabilities in drastically different ways? These strategic insights could be the difference between securing your dream property and missing out.We explore the recent economic developments affecting Australian borrowers, including inflation trends, potential interest rate movements, and policy changes that might reshape lending criteria. For first-home buyers, we dissect how HECS/HELP debt impacts borrowing power and why "rent-vesting" (living with parents while building an investment portfolio) might be the smartest path to property ownership in today's market. Investors will appreciate our discussion on loan structure optimization—converting from interest-only to principal and interest loans could unlock substantial additional borrowing capacity for your next property purchase.Beyond the technical strategies, Zach emphasizes that timing and expertise matter. Having the right broker match your unique financial situation with the right lender could literally unlock hundreds of thousands in additional borrowing power—even if you've been declined elsewhere. Ready to discover if there's hidden potential in your borrowing capacity? This episode delivers the practical insights you need to maximize your opportunities in today's property market.

HECS-HELP கல்விக் கடன்கள் உள்ள மாணவர்கள் தங்களின் முதலாவது வீடு வாங்கும்போது அவர்களுக்கு கடன் வழங்கும் வங்கிகள் மாணவர்களின் HECS-HELP கடனை பரிசீலிக்கும் விதிகளைத் தளர்த்துமாறு நிதிக் கட்டுப்பாட்டாளர்களிடம் பெடரல் அரசு கேட்டுக் கொண்டுள்ளது. இது குறித்த செய்தியின் பின்னணியை தயாரித்து வழங்குகிறார் செல்வி.

우리 생활에 밀접한 경제 이슈 정리해 보는 친절한 경제, 오늘은 대학생을 위한 학자금 대출제도 헥스-헬프(HECS-HELP) 관련한 소식 알아봅니다.

In this episode, Jeremy Cordeaux hosts a lively discussion on current issues and nostalgic reflections. Topics range from Black Friday sales and the history of the John Martins Christmas Pageant to economic matters like the potential RBA rate cuts and the impact of government spending. Cordeaux also touches on Guy Fawkes Day, the HECS/HELP system, Qantas' monopoly on government travel, and various historical events and birthdays. Topics Discussed; Black Friday sales and influence of American holiday customs (00:14)​(jc-051124) History of the John Martins Christmas Pageant and Sir Edward Haywood's legacy (02:15)​ Discussion on interest rate cuts and the Reserve Bank's upcoming decision (02:15)​ Historical reflections on Guy Fawkes Day and anti-Catholic sentiment in England (02:15)​ Criticism of HECS/HELP and the financial impact on taxpayers (08:06)​(jc-051124) Commentary on government waste and inefficiency, including Qantas' 90% share of government travel (17:36)​ Lifeline's record-breaking demand for counselling services due to financial stress (15:33)​ Nostalgic references to Cracker Night and communal celebrations (24:07)​ Join Jeremy Cordeaux for The Court of Public Opinion LIVE every Friday from 9 a.m. to 12 p.m., streaming round the dining room table at jeremycordeaux.com and via Auscast Radio at auscastnetwork.com.See omnystudio.com/listener for privacy information.

Prime Minister Anthony Albanese joins Jonesy & Amanda to chat about the re-elected Albanese government slashing HECS-HELP debt by 20 per cent. See omnystudio.com/listener for privacy information.

If you were expecting a tax refund, but find yourself with having to pay extra tax on your tax return, there could be several reasons why. Chantelle Turner, Tax Manager at the Bongiorno Group, and Financial Consultant Matt Homewood, address the common misconceptions and challenges surrounding tax returns. Even if you have a similar job to your colleagues, your tax situation can be very different due to factors like work hours, penalty rates, HECS/HELP debts, salary packaging, and overtime. Salary packaging, in particular, often leads to unexpected tax payables due to the difference between taxable income and adjusted taxable income. The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Australian Dental Association Victorian Branch. For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/ This general advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product Disclosure Statement before deciding to acquire the product.See omnystudio.com/listener for privacy information.

How is HECS/HELP debt is changing since Treasurer Jim Chalmers outlined overhauls in the 2024 Federal Budget? Listen to this bonus micro episode as Victoria explains the ins and outs of everything you need to know! Acknowledgement of Country By Natarsha Bamblett aka Queen Acknowledgements. The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs.  Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708,  AFSL - 451289.See omnystudio.com/listener for privacy information.

Tsoom fwv Albanese tau qhia tias nws yuav ua tib zoo xyuas kom them nyiaj rau tej tub kawm xyaum ua hauj lwm uas tseem kawm ua lees kais, nursing, social worker thiab midwifery. Ua ke no los yuav nrog xyuas kom tej tub kawm muaj tej nuj nqe HECS-HELP loan tsawg me ntsi thiab xyuas kom tau txais vaj huam sib luag rau kev kawm.

The release of the Universities Accord earlier this year marks a pivotal moment in higher education policy. Its recommendations address crucial aspects of the evolving higher ed landscape, including equity, funding, HECS/HELP, and living costs. These changes could profoundly influence the decisions of first-year students transitioning from school to higher ed, emphasising the pivotal role schools play in shaping their future trajectories. In this episode, Associate Professor Gwilym Croucher, an expert in Higher Education Policy, joins Principal Annette Rome of St. Margaret's Berwick in a dynamic dialogue. Together, they explore the potential impacts of the Accord, strategies for preparing school students for making decisions around their future, and how we ensure good outcomes for everyone.

In today's Q&A, Glen and Rebecca Pritchard discuss:

Are you an Australian citizen who has started a local uni degree in the last 35 years? If so, you'll know about HECS-HELP debt. In the early stages of your career, HECS-HELP debt can be pretty easy to forget about. For starters, you don't need to start making payments until your income reaches a certain threshold. And even then, it's deducted from your salary, meaning it simply feels like another form of tax. It stands to reason, then, that many people would decide to let time and pre-tax income whittle it away.But here's the kicker: the more you earn, the more you're required to pay towards the principle. And here's the second kicker: the debt is indexed to inflation. In other words, when inflation increases, so does what remains of your HECS-HELP debt. Armed with this knowledge, is it worth making additional payments to clear your HECS-HELP debt?In this session, Natasha Etschmann (Tash Invests) and Ana Kresina (Head of Product & Community at Pearler) explore this very topic. In doing so, they discuss how HECS-HELP debt works, and then dissect the arguments for and against paying it off early. By the show's wrap, you'll have a clearer idea of how to make the right decision for your goals.@tashinvests@anakresina@getrichslowclub@pearlerhqGet Rich Slow ClubPearlerYouTubeDisclaimerAny advice is general and does not consider your financial situation needs, or objectives, so consider whether it's appropriate for you. You should also consider seeking professional advice before making any financial decision.Natasha Etschmann is an Authorised Representative 1299881 of Guideway Financial Services Pty Ltd AFSL 420367. Read the FSG available from https://tashinvests.com/linksPearler is an Authorised Representative 1281540 of Sanlam Private Wealth Pty Ltd AFSL 337927. Read the FSG available from https://pearler.com/financial-services-guideIf you are considering any of the products we spoke about during the show, be sure to read the Product Disclosure Statement & Target Market Determination available from the product issuer's website before deciding. Hosted on Acast. See acast.com/privacy for more information.

If Australia is going to prosper in the years ahead – we're going to need far more tertiary educated workers. That's the central finding of the Universities Accord report out today – which recommends sweeping changes to recruit more students – particularly from regional, remote, and disadvantaged backgrounds. It's calling for a shake-up of course fees, more resources for regional unis, more financial support for those struggling to make ends meet while studying, and an overhaul of student loan repayments. Is the government up for serious reform and investment? We'll find out soon.In the meantime – we're 6 days out from the Dunkley by-election – the first real test for Anthony Albanese and Peter Dutton this year. The Prime Minister's pitch to voters over the past week has been all about cost-of-living – talking up his tax cuts and better news on wage growth. While the Opposition Leader has been hammering away on his favoured ground - border protection. Listen to the full episode of this week's Insiders.

As the number of students attending university has grown so has their debt and while the HECS / HELP system has worked well in the past - does it now need reform?

Welcome to the one hundred and seventh episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat. In today's Expat Chat we talk about when does an Australian expat need to lodge a tax return. There is a lot of conflicting information out there about this topic which causes the confusion amongst expats and the answer is that some Australians do need to lodge tax returns whilst others don't. Typically you are taxed in Australian on what is called Australian sourced income (for example rental income, termination payouts, deferred income from employer shares etc) so if you have earned this type of income you will have to lodge a tax return. In this episode we run through the following topics: • Does an Australian expat need to lodge a tax return? • What qualifies as Australian sourced income? • What if my trading platform or bank does not know I am overseas? • Is a HECS/HELP debt lodgement the same as a tax return? Links that we discussed in this episode include: • Upcoming Webinars - https://atlaswealth.com/events • Facebook Group - Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum • Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/ • Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/ If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below. Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat. Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community. Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas. To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com. Make sure you connect with us on our respective social media channels: Facebook: www.facebook.com/atlaswealthmgmt LinkedIn: www.linkedin.com/company/atlas-wealth-management Twitter: www.twitter.com/atlaswealthmgmt Instagram: www.instagram.com/atlaswealthmgmt

In today's Q&A we're coming at you from Bowie Cafe in Newcastle with a live podcast recording! In this episode we chat about:

Don't forget to register my free Money Mindset & Manifestation Masterclass: https://courses.sugarmamma.tv/masterclass Or you can just get started straight away: The Money Mindset & Manifestation Program here (P.S. It is game changing): https://courses.sugarmamma.tv/join Stay updated & inspired... @SugarMammaTV – Money, budgeting, cashflow, motivation @CannaCampbellofficial – lifestyle, capsule wardrobe fashion, motherhood Tik Tok - https://www.tiktok.com/@sugarmammatv My Best Selling Books! The $1000 Project Book: booktopia.kh4ffx.net/DVqDMj Mindful Money: booktopia.kh4ffx.net/Xxrz5o My YouTube channel - over 500 bite size videos with over 12,000,000 views! https://www.youtube.com/c/SugarMamma www.SugarMammaTV.com    Also, don't forget about my other podcast channel, "How Do They Afford That?" https://podcasts.apple.com/au/podcast/how-do-they-afford-that/id1644255235 ADDITIONAL GENERAL ADVICE WARNING: Whilst we discuss various financial topics, this podcast is not advice in anyway, but purely for educational purposes only. Nothing in this podcast is personal advice, investment advice or product advice. With any major financial decision, you must always do your own research, consider all the pros and cons, fees, caps, limits, costs, taxes etc. Always proactively educate yourself before making any major financial decision, consider your own financial goals, deadlines and risk profile. So please bear all of this in mind when listening to this podcast and please always speak to a Financial Planner when wondering what you should do to achieve your own financial goals and dreams. GENERAL ADVICE WARNING & FINANCIAL PLANNING LICENSE DETAILS: The information in this podcast is general in nature and does not take into account your personal circumstances, financial needs or objectives. Before acting on any information, you should consider the appropriateness of it and the relevant product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice and read the relevant Product Disclosure Statement or other offer document prior to acquiring any financial product. Canna Campbell is a Corporate Authorised Representative and Corporate Credit Representative of Wealthstream Financial Group Pty Ltd ABN 35 152 803 113 Australian Financial Services Licensee AFSL 412079.    See omnystudio.com/listener for privacy information.

In this Q&A episode Dev touches on:

As the number of students attending university has grown so has their debt and while the HECS / HELP system has worked well in the past - does it now need reform?

As the number of students attending university has grown so has their debt and while the HECS / HELP system has worked well in the past - does it now need reform?

It's the EOFY and we're answering all your tax time questions with chartered accountant, Aimee. In this episode Glen and Aimee touch on:

Today's episode is part 2 of our chat with Jason and Matt from MissionMed about getting into medical school. Make sure to listen to last week's episode to catch the first part if you missed it! In this episode we talk about:

Emerald's returned, meanwhile Tim Smith is threatening to. Emerald and Tom learn about the Petroleum Resource Rent Tax (PRRT) - and wonder why the government is going to make less from it than student loan indexation. Speaking of, that's the second topic! How much did the HECS-HELP indexation cost Emerald? The PM got a free education, why can't you? Finally, a call to action. Full video version of this episode available on https://www.youtube.com/c/SeriousDangerAU  Subscribe on Patreon to support the show and check out all our bonus Patreon eps with guests like Geraldine Hickey, Michael Berkman, Wil Anderson, Cam Wilson, Tom Tanuki and Jon Kudelka, and deep dives into topics like psychedelic-assisted therapy, killer robots (with Emerald's sister!), a debrief of the 2022 federal results, whether the Greens are too woke, the 18-year plan for Greens government, whether lawns should be banned, Greens memes, bad takes, Joe Hildebrand's small brain, CPAC, Aussie political sketch comedy, internal Greens party shenanigans, and whether a Greens government would lead to the apocalypse. https://www.patreon.com/SeriousDangerAU  Links - Useful explainer of PRRT -  https://www.austaxpolicy.com/budget-forum-2022-why-not-repeal-the-petroleum-resource-rent-tax-and-levy-a-royalty-for-offshore-gas/  HECS-HELP increase calculator -  https://www.abc.net.au/news/2023-06-01/hecs-calculator-how-much-has-my-hecs-gone-up-by/102410180  Get involved with the week of action on housing -  https://greens.org.au/housing/volunteer  Equality Australia is looking for stories of queer people facing discrimination in religious schools & organisations - https://www.surveymonkey.com/r/6SW26VV  Produced by Michael Griffin Follow us on Twitter, Instagram, TikTok and Patreon @SeriousDangerAUSupport the show: http://patreon.com/seriousdangerauSee omnystudio.com/listener for privacy information.

Hơn 3 triệu người Úc đang đối mặt với các khoản nợ giáo dục đại học tăng mạnh, do tỷ lệ lạm phát cao của Úc. Các khoản nợ HECS-HELP được lập chỉ mục hàng năm, theo chỉ số giá tiêu dùng và tỷ lệ lập chỉ mục năm nay là 7,1%. Điều đó có nghĩa là, ai đó có khoản nợ điển hình là 25 ngàn đô la phải đối mặt với khoản tăng lên 1.775 đô la. Nhưng một số sinh viên tốt nghiệp nói rằng, gánh nặng nợ nần của họ cao hơn nhiều.

More than 3 million Australians are facing steep increases to their higher education debts because of Australia's high rate of inflation. HECS-HELP debts are indexed each year to the consumer price index and this year's indexation rate is 7.1 per cent. - Mahigit sa tatlong milyong Australiano ang nahaharap sa matinding pagtaas sa kanilang inutang na matrikula para sa kanilang pagkokolehiyo – ito'y dahil sa mataas na rate ng inflation ng Australia. Bawat taon ang utang sa HECS-HELP ay naka-index o ibinabase sa consumer price index at ngayong taon ito'y 7.1 percent.

More than 3 million Australians are facing steep increases to their higher education debts because of Australia's high rate of inflation. HECS-HELP debts are indexed each year to the consumer price index and this year's indexation rate is 7.1 %, meaning a typical debt of $25,000 increases by $1,775.

Xov xwm hnub zwj Teeb (Thursday news 01.06.2023), tej vaj tse pheej yig uas ntiav tau nyob, neeg tsiv teb tsaws chaw cov kev txhawb nqa kom muaj suab hauv tsev tsoom fwv rau neeg txum tim, South Australia tsab cai tawm tsam nrog neeg rwg npoj tawm tsam, thiab Uganda tsab cai rau txim tuag rau tej neeg LGBTQI+.

Today student debts will increase by 7.1% for more than three million Australians thanks to indexation. The average national student debt is $24,770.75 and will be increased by an extra $1758.72 . We speak to the creator of the HECS-HELP system Bruce Chapman about whether he thinks the current system should remain as is, and former student Hanna who's furious at the increase.   Headlines: RBA governor cops criticism for housing comments PwC to name and shame partners Government to crackdown on tobacco The Office is getting an Australian adaptation Queensland takes down the Blues in Origin I   Follow The Briefing:Instagram: @thebriefingpodcast Facebook: TheBriefingNewsAUTwitter: @TheBriefingAUSee omnystudio.com/listener for privacy information.

In today's q&a, Nick from my millennial investor joins Glen on the show... or does he?

In today's episode, we are talking all things mortgages and money with Morgan Owen from Penny Finance. Adele & Morgan cover a lot, from unpacking what a mortgage broker is, to tips for saving for your first home, interest rates, HECS/HELP loans, and what to do if you are in debt. Thank you for listening!Find Morgan here: https://www.pennyfinance.com.au/ and here: @_pennyfinanceIf you are struggling with your mental health, please find some more mental health helplines below or chat with your GP.Mental health helplinesIf you are struggling financially, please find some helplines below.https://askizzy.org.au/https://ndh.org.au/ or 1800 007 007https://www.salvationarmy.org.au/need-help/financial-assistance/ Follow us on IG:https://www.instagram.com/yoursafespacepod/Have a question you want to be covered on the pod? Ask on the Monday AMA, DM us, or send it over (it's kept safe with us):yoursafespacepod@outlook.com Hosted on Acast. See acast.com/privacy for more information.

HECS or HELP debt has long been described as “the best debt you can have” BUT is this still the case? With indexation on HECS/HELP set to increase on June 1st to 7.1%, what does this mean for people with this debt? Today we are getting the downlow on HECS/HELP debt and indexation, what debt we should prioritise paying off and so much more! Acknowledgement of Country By Natarsha Bamblett aka Queen Acknowledgements. The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs.  Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708,  AFSL - 451289.See omnystudio.com/listener for privacy information.

When should you pay off your HECS/HELP debt? How does it impact your borrowing capacity when it's time to buy a house? Glen unpacks everything you need to know about HECS/HELP debt in this bonus episode. Grab our free HELP debt ebook here: https://www.mymillennial.money/helpdebt

On Wednesday it was revealed the Hecs-Help debt of millions of Australians will rise by 7% this year – the highest hike in decades. Data shows more graduates are struggling to pay back their loans amid stagnant wages, with the government crossbench and unions calling for urgent measures to help those trapped in a cycle of debt.Higher education reporter Caitlin Cassidy speaks to Laura Murphy-Oates about what's going wrong in Australia's student debt system

Báo động đưa ra cho hàng triệu người Úc đang có khoản nợ HECS – HELP từ thời sinh viên - với khoản tiền phải trả sắp sửa tăng vọt. Dự báo chỉ số HECS-HELP sẽ lên đến 7%, sẽ được xác nhận sau số liệu quý Tháng 3 của Nha thống kê ABS. Điều này sẽ khiến khoản vay sinh viên trung bình 25.000 đô la bị tăng thêm 1.500 đô la một năm.

Glen and John are back with another Q&A. Today's community questions and topics include:

Moving overseas can be a very exciting and daunting time. Before you go here's a few things to know when it comes to your home, HECS/HELP debt and superannuation.Mentioned in the episode: https://atlaswealth.com/news/selling-australian-real-estate-as-an-expatAtlas Wealth Pre Departure Checklist

In this week's episode, Jo & Jade will be discussing the following:- What have our hosts been up to?- Our favourite recommendations for the week!- New tax rules for multi-million dollar super balances- Could you have unclaimed or lost super?- Accountants must educate clients on PAYG Instalments- Xero's new campaign to get invoices paid faster- The Naughty Corner - ASIC launches it's first greenwashing court case - The Table of Knowledge - H is for HECS/HELP DebtLinksASIC going to court with Mercer over greenwashingNew caps to super tax breaks proposed by the TreasurerATO says to check your MyGov for lost and unclaimed superAccountants must educate clients on PAYG installmentsLate invoice payments in the spotlight for new Xero campaignCheck out our new website: www.accidentalbookkeeper.com.auAlso check our TikTok and YouTubeFollow, share and support our podcast so we can get in the ears and help as many small family businesses around!Until next week,Jo & Jade - Co-HostsJoel - ProducerLauren - Marketing/Sustainability Guru

Sometimes it's tricky to know how to make the 'right' decision when you're tossing between options. Glen and John share a few tips around decision making and chat about:

Friend of the show, Vince Scully from Life Sherpa is today's guest host with John. Today's community questions touch on:

Student debt has been a hot topic in the media for a while now, would it be so bad if it was cancelled? In this Episode, we are joined by UOW Associate Professor of Economics Alfredo Paloyo and Megha, as they discuss concerns we often have about paying off HECS-HELP loans. Why does the government pay for education in the first place? How much public money actually goes into universities? How can we better combat the increasing cost of living? Tune in to understand the nuances of student debt in Australia and how we can better address concerns regarding equity and education. About Alfredo Paloyo: Alfredo has a background in policymaking on human-capital issues, substantially in the fields of labor, education and health economics.

Một trong những người chủ chốt của hệ thống HECS_HELP cho vay đại học của Úc cho biết Úc không cần phải làm như Mỹ vì hệ thống HECS_HELP của Úc đã dành ưu đãi cho sinh viên. Tuy nhiên, các sinh viên đại học Úc nói rằn muốn thấy chi phí giáo dục giảm trong tình hình vật giá sinh hoạt gia tăng chóng mặt.

Ketika Presiden AS mengumumkan rencana untuk memangkas ribuan dolar dari jutaan pinjaman mahasiswa, arsitek sistem pinjaman universitas Australia mengatakan langkah serupa tidak diperlukan di sini.

当地时间8月24日，美国总统拜登宣布学生贷款减免计划，免除符合条件者最高2万美元的学生贷款。而澳洲高等教育助学贷款系统（HECS-HELP）的设计者表示，澳大利亚无须类似举措。但有澳大利亚高校生表示，他们正在为生活成本的上涨而苦苦挣扎，并希望看到学费下调。

Lub caij uas America tus President Joe Biden tau los qhia txog nws tej tswv yim yuav zam USD 10,000 tsis hais kom ntau million tus neeg America uas qev coj los siv kawm ntawv uas lawv yog cov neeg khwv tau nyiaj nrab thiab tej cuab yig ua hauj lwm ntawd them, tau muaj Australia tej koom haum sawv cev rau tej tub kawm tau nqua hu kom txo tej nqe ntiav kawm ntawv vim lawv txom nyem rau lub caij tej nuj nqes siv ua lub neej kim tuaj no.

Welcome to episode 21 season 2 of the Expat Mortgage Podcast where we discuss the latest issues of securing and maintaining an Australian mortgage whilst you are an Australian expat. In this episode, we take a closer look at HECS/HELP Debt for expats that used this loan scheme through higher education providers, the impact of inflation in it going up and how it impacts your serviceability. If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below. The Expat Mortgage Podcast is all about helping Australian expats secure and maintain a Australian mortgage whilst they're living and working overseas. This podcast is brought to you by Atlas Mortgages which is part of the Atlas Wealth Management Group who is the leading provider of Australian expat financial services. Atlas Mortgages works with Australian expats in over 30 countries and we make it our job to speak to 30 Australian Mortgage Lenders and review over 500 Australian Mortgage products to ensure that not only can you that mortgage as a Australian expat but also provide you with a loan that is right for you and your circumstances. Enjoying the podcast? Why not leave us some feedback here: bit.ly/3nmzhie

올해 6월 1일부터 학자금 대출인 HECS-HELP 대출 지수가 3.9%로 상승하면서 가중된 부채 상환 압박에 대한 우려가 커지고 있다.

With inflation skyrocketing this year, HECS / HELP loans amounts are being adjusted 6 times higher than last year's level. In this episode we chat about the dates you need to be mindful of, how you can go about paying down your HECS loan, and some key considerations such as weighing up paying down your student debt v other loans or savings goals. 

Welcome to our forty third episode of #Expatchat where we discuss the latest tax and financial issues affecting an #Australianexpat. In today's Expat Chat we discuss what are the top tax tips for those Australians who are looking to move overseas and join the expat ranks. We see a lot of confusion from those we meet who are leaving Australia surrounding how their tax status changes, the way they manage their finances, why your Australian passport should not dictate the way you manage your money and habits and defaults that Australians can fall into when living and working overseas. In this episode we run through the following topics: • How does the taxing of assets change when you move overseas? • What is Taxable Australian Property? • What is Non-Taxable Australian Property? • What is Deemed Disposal? • Do I need to continue paying my HECS/HELP debt? • How is superannuation treated when you live overseas? • Can I manage a SMSF as a Australian expat? • Should I manage my finances as a Australian or foreign citizen? • Make sure you organise a depreciation certificate if you own a investment property? Links that we discussed in this episode include: • Australian Housing and Lending Landscape Webinar for Australian Expats - https://atlaswealth.com/news/australian-housing-and-lending-landscape-webinar-for-australian-expats/ • Expat Chat Ep 40 – How Do Rising Interest Rates Affect Australian Expats - https://atlaswealth.com/expat-chat-podcast/expat-chat-ep-40-how-do-rising-interest-rates-affect-australian-expats/ If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below. Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat. Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community. Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas. To find out more about Atlas Wealth Management and how we can help Australian expats please go to www.atlaswealth.com. Make sure you connect with us on our respective social media channels: Facebook: www.facebook.com/atlaswealthmgmt LinkedIn: www.linkedin.com/company/atlas-wealth-management Twitter: www.twitter.com/atlaswealthmgmt Instagram: www.instagram.com/atlaswealthmgmt

In today's episode we're discussing your questions. Make sure to be part of our facebook group for health care workers where you can ask a question for the show! In today's episode Dev discusses:

In today's chat, Glen, Vince Scully and John Winters from Superhero discuss all the things around superannuation including questions from the m3 community. They touch on:

Being debt-free is something that all of us strive for, and so putting a bit of extra work into paying off your HECS/HELP debt faster is probably worth it, right? Well, Michelle Bowes is here to tell you why you should take a breather on paying off your uni debt. CREDITS Host: Rachel Corbett.Contributor: Financial writer & founder of Money Queens, Michelle Bowes. Check her out on Instagram @money.queens.au or head to her website moneyqueens.com.au.Managing Producer: Elle Beattie.Lead Producer: Rachael Hart.Producer and Editor: Amy Kimball. This episode of Small Change does not constitute financial advice or take into account individual circumstances. Always seek your own independent financial advice. Listen to more great podcasts at novapodcasts.com.au.See omnystudio.com/listener for privacy information.

It's the Shake Up and we're talking… Australia's boycott of China's Winter Olympics, moving to the regions to wipe your HECS-HELP debt and Finland's Prime Minister apologising for clubbing till 4am. Join Hack's Avani Dias with podcaster Marty Smiley and The Feed's Vic Zerbst.

You guys had SO many questions for this episode! Rachelle Kroon from Sphere Home Loans joins Glen and John for this deep dive Q&A. They touch on:

Glen and John get into a bunch of questions and case studies from the m3 community, touching on:

Gals from the SYMO team, JP and Rach, join Glen on the show to chat about some questions from the m3 community and announce the winners of Glen's book launch competition, big thanks to everyone who entered! They talk about:

In this episode, we look at strategies for dealing with debt and mortgages when you goal is financial independence.  Should we focus on investing, or should we aim to be debt-free?  Which will help us become financially independent faster?  We discuss the ins and outs, and our thoughts on the various options to help you decide.Discussion points...The worst form of debt  (02:31)Our thoughts on credit cards  (06:05)HECS/HELP debt  (08:51)Mortgage debt and calculating the benefit  (13:28)Should you pay down your home loan or invest?  (19:06)Accessing home equity in retirement  (23:56)How does debt affect our ability to become FI?  (28:31)Mortgage strategies to optimise your cashflow  (30:57)Margin loans and investment loans  (47:08)Takeaways from this episode  (52:29)Resources...Our favourite portfolio tool:  SharesightArticle:  Paying Off Your Mortgage vs InvestingPodcast:  Emergency Funds & Short Term SavingsHome loan extra repayment calculatorMore from us...Pat's blog:  Life Long ShuffleDave's blog:  Strong Money AustraliaContact us with questions and feedback:  fireandchillpod@gmail.com

On this episode of The Grapevine, journalist Michael Green and Farhad Rafmati, a civil engineer and Iranian refugee currently in detention, give us a glimpse into the experiences of refugees detained in Australia with the Manus Recording Project Collective.Then, Grant Duncan, Associate Professor for the School of People, Environment and Planning at Massey University, breaks down what's going on in New Zealand as Jacinda Ardern's government puts in place a new lockdown and its implications for the upcoming election.And, Peter Hurley, Education Policy Fellow of The Mitchell Institute discusses the current state of higher education in Australia following Federal Education Minister Dan Tehan's announced university system overhaul that would deny students a Commonwealth-supported place or HECS-HELP loan if they failed half of their first eight subjects.

Have you always struggled with consumer debt? Live week-to-week and have repayments coming out of your ears? This episode might be helpful if you're interested in getting out of consumer debt. We're not talking about the home mortgage or HECS/HELP debt here - just all the other debt!⭐For the steps and diagram talked about in the podcast, you can find it here: http://bit.ly/2RELAGr⭐To save $20 on my spending plan, if you don't have one, click here: http://bit.ly/37tkBUM⭐Insta: http://bit.ly/2ui5cZ3⭐Our free facey group for listeners: http://bit.ly/3aymUZ1

Hello lady! Do you belong to the 36% of Aussies who have attended uni? Well, today we’ve got a special episode just for you. Firstly, what the hell is HECS/HELP debt, and should we be trying to pay it off ASAP? Then, what’s the deal with the robo-debt Centrelink scandal that’s draining millennials’ wallets? We’re covering it all, and THEN we’re hearing from a money diarist who calls herself a “work in progress”.Want to call the pod phone and tell us your money dilemma? We’re working on some killer episodes all about INVESTING (tada!) and we want your listener questions. Leave us a voicemail on 0435 293 886 and you might make it onto the show!When that’s all done, why not join our growing community? We’re on Insta @shesonthemoneyaus or on Facebook, just search She’s On The Money!The advice shared on She’s on The Money is general in nature and does not consider your individual circumstances. She’s on The Money exists purely for educational purposes only and should not be relied upon to make an investment or financial decision. Victoria Devine is an Authorised Representative of Consultum Financial Advisers Proprietary Limited ABN 65 006 373 995 | AFSL 230323.

Things you need to know & places you need to go!-Need personal help? Get it here: https://www.sortyourmoneyout.com/reach-out-Insta https://www.instagram.com/mymillennialmoney/-Facey https://www.facebook.com/mymillennialmoney/-Our private facey group for listeners: https://www.facebook.com/groups/mymillennialmoney/-Check out Glen's online money course here: https://www.sortyourmoneyout.com/online-course/ (use coupon code "m3x" for 20% discount)Feel like giving us a good review if you like the show (if you listen on Apple Podcasts)?

Welcome to Finance and Fury, the Say What Wednesday Edition Today’s question comes from Octav Hi Louie, My question is how the universities are functioning in Australia, especially the one that are governmental managed. How do they make the advertisement for casual and part time positions available? From my experience, the positions are given to students and acquaintances without a selection process.   Today we will talk about universities in Australia An overview The nepotism   Overview: 43 universities in Australia The department of education has the responsibility for administering funding and policy A hybrid model with funding from government and tuition fees The universities adhere to government rules and regulations Funding comes from commonwealth schemes, scholarships, and grants. HECS/HELP debt covers 2.2 million Australian’s debt at around $40.2 billion in total Takes an average of 8.8 years to pay off Uni is set to become more expensive as the government starts covering less of the cost upfront   How well are they functioning? Rankings in the top 100 Uni’s in the world Quality of education (30%) – comes down to alumni and staff winning prizes Quality of faculty (40%) – highly cited researchers and papers published Research output (20%) – papers indexed Per capita performance academically (10%) of an institution   Australian Uni rankings 7 in the top 100 What other methods show the functioning of a university? Any focus on preparing people for the real world? Last year 73% of people found a job after graduating and 27% are still looking Pharmacy graduates had the highest change of employment Creative arts graduates only 52% were in full time employment after graduating Science and mathematics graduates had 64% employment 4 months after graduating Only 57% of graduates who were employed full time after graduating believe their qualification was important for their current employment Only 39% of undergraduates in fulltime and part time jobs reported that their skills and education were not fully utilised And they have HECS debt to repay The degree should improve your employment prospects Look at a career with a wide range of job prospects I was interested in Another important factor is about building resilience Makes it hard to educate on topics if people get offended Are universities functioning well based on how much it will cost you? Previous episode link here on the political tool used to get votes and should you go to university What is the incentive for universities to keep their prices low?   Second part of Casual and part time employment Internally hire through the ranks Universities don’t hire many casual or part time workers, 70% are full time   Thanks for the question, if you want to get in touch you can do so here. Resources: https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/FlagPost/2018/May/HELP-debt-statistics            

Should you pay down your HECS-HELP debt faster than the auto payments from your tax?Should you get a novated lease through your employer for your next car?We have Vince Scully from LifeSherpa on the show to help unpack these issues!Things you need to know & places you need to go!-Insta-Facey-Our private facey group for listeners-Check out Glen's online money course (use coupon code "m3" for a 20% discount)-John's website-Glee Coffee Roasters, promo code m3 at checkout, to get 15% off your coffee orderFeel like giving us a good review if you like the show (if you listen on Apple Podcasts)?

The Australian government offers different types of loans to assist university students with their fees. - Hari ubwoko butandukanye bw'ingurane ushobora gusaba kugira urihe amashure ya kaminuza muri Austrariya. Mu kiganiro c’uno musi turaba uburyo butandukanye bwo gusaba ingurane kubifuza kubandanya amashure yisumbuye.Ariane Uwimana afise imyaka 23, akaba asanzwe yiga kuri kaminuza ya Curtin; aratuyagira ibisabwa kugira uronke ingurane ya HECS-HELP igufasha kwiga muri kaminuza hanyuma ukazoyiriha waratanguye gukora.

In this weeks episode we talk about HECS HELP and how it most certainly is your problem. We talk about what HECS is and how it works, the pros and cons of taking HECS and the views that Australian parents have on the higher education loan program.

We all know that property prices in Australia have gone stupid in recent years.  One significant consequence of that has been that first home buyers have found it increasingly difficult to enter the property market.  Banks like to see at least a 10% deposit, and in the ideal world you’d have a 20% deposit to avoid mortgage insurance costs.  But when a first home can often cost north of half a million dollars, saving a deposit of that size can be really challenging, especially if you have rent to pay, and perhaps a HECS-HELP debt that sucks away a portion of your income. Fortunately there has been recognition of this problem by both sides of politics, and the solution that has been legislated in recent months is the First Home Super Saver Scheme. So what is it, and should the First Home Super Saver Scheme be on your radar as a strategy to enter the housing market?  In short, should you care about this new initiative? Click here to get the toolkit  It’s always good to start at the beginning, so before we dive in, let’s just consider the objective of the First Home Super Saver Scheme. Home ownership is considered a good thing for the nation.  Now as regular listeners and readers will recall, in episode 19 I looked at whether people who simply can’t enter the property market are financially doomed, and the conclusion that we found is certainly not.  However for those that do wish to own their own home, and that is most of us, the rationale is sound. Owning the roof over your head gives you long term financial security.  Sure, you’ll have a mortgage to repay for many years, but one day this will be paid off, and so in your later years, you’ll have your housing needs covered for relatively little ongoing expense.  This makes retirement that much more affordable, and also provides you with the security of knowing you can remain in your community without disruption. Building equity in your home may also enable you to finance things like starting a business, and provide funds for Aged Care needs towards the end of your life if needed. Home ownership also tends to align with a sense of equality.  I enjoy reading about the period around the French Revolution, in the late 1700’s.  In that era (and it was much the same throughout Europe and England), the wealthy few owned everything, and the vast majority eked out a living as best they could.  In that type of society, the average person had little control over their life, and got blown about by the whims of the wealthy elite, with their wars and ridiculous extravagances.  Australians have always resisted a society like this.  The concept of a fair go is ingrained in us.  And whilst in recent years it feels like perhaps we’ve headed a bit more towards the wealth of the nation become concentrated in fewer hands, the ability to access home ownership for all Australians is a really important foundation stone of our society. So the First Home Super Saver Scheme exists to help ensure that entry into the housing market remains possible. So how does it work?  Now I need to give a jargon alert here.  I always try very hard to not use financial jargon when I write pieces for Financial Autonomy. But because the First Home Super Saver Scheme feeds into the superannuation system, and because Australia’s superannuation system is almost a language all of its own, I won’t be able to avoid having some jargon in this post.  I’ll do my best to explain things in what I hope are easily understood terms, but if anything is unclear, don’t hesitate to drop me an email to clarify. Click here to get the toolkit The First Home Super Saver Scheme enables you to make extra contributions into your superannuation account, and then withdraw them, plus the earnings, for the purposes of a first home deposit.  It’s rational because you are likely to save on tax, and typically the earnings on savings in a super fund will be better than what you would generate with a bank deposit. From 1 July 2018 it is possible to apply to withdraw voluntary contributions made to super after 1 July 2017 for a first home deposit. Voluntary contributions includes both pre-tax (salary sacrifice) and after tax contributions. Your normal superannuation contributions made by your employer are not relevant here – they remain preserved until your retirement.  The First Home Super Saver Scheme only applies to extra contributions that you make. The primary benefit exists for pre-tax contributions, so for the remainder of this post, I’m going to focus on these.  Now the jargon term here is “concessional contributions”.  They are concessional because these type of contributions receive special discounted tax rates.  For most people, concessional contributions occur via salary sacrificing to super.  That is, you arrange with your employer to have an amount taken out of your wage before tax is calculated, and that money is sent to your super fund, on top of the normal employer contribution that they would be making. Now if you’re self-employed, it’s even easier, as it’s probable that any contribution to super that you make will be concessional.  If your taxable income is quite low, this may not be the case, so get some advice here if that’s applicable. Because the money you’re sending to super comes out before tax, you’ll find that the impact on your pay packet is less than you would expect.  So for instance if you were on a wage of $70,000, and you salary sacrificed $500 to super, your take home pay would reduce by around $350, not the full $500 amount. This points to why the First Home Super Saver Scheme makes sense.  It’s all about the tax! When your salary sacrifice contribution arrives at your super fund, it will be taxed at 15%.  So taking the $500 example earlier, after tax is deducted $425 hits your super fund.  But as mentioned earlier, had you instead taken this money as normal take home pay, you would have only got $350 in your pocket, so $425 going into your super fund is a good win. Let’s look at some of the parameters around the scheme. Firstly, the maximum that you can withdraw from the scheme is $30,000 plus the earnings on those funds. The maximum amount that you can have released from a single years contributions is $15,000.  So in other words, in order to get the maximum out, you’d need to contribute for at least 2 years. Also, the normal superannuation contributions limits apply.  The most anyone can contribute to super in pre-tax/concessional contributions is $25,000, and this includes what your employer puts in.  So you might want to save $15,000 in a particular year into super to use in this new scheme, but if your employer already puts in more than $10,000, then you simply don’t have the head room within the contribution caps to be able to do this. When you then withdraw these savings, they will be taxed at your marginal tax rate, less a 30% tax offset.  This bit is confusing at first blush and will catch some people by surprise.  It exists to provide equity in the scheme.  Most people with access to this scheme will pay tax at around 30%, and so any tax applicable at withdrawal will be pretty minimal.  But of course the scheme is open to anyone, even someone earnings several hundred thousand dollars a year, so this mechanism is designed to ensure that higher income earners don’t get a disproportionate benefit from the scheme. I guess the takeaway is just to recognise that when you withdraw, it may be that some tax is deducted.  Rest assured though that where this is the case, you will still have been better off than had you saved the equivalent amount outside of the scheme, assuming earnings rates were the same. It’s also worth noting that you don’t need a new or separate super account for this scheme, nor do you need to tell your super fund that the contributions you are making are for this purpose. The actual mechanism for withdrawing your funds is a little unclear at this point as it hasn’t happened yet.  The tax office is responsible for approving the withdrawal. So either you will apply to the ATO to withdraw the funds, and then when they are satisfied that you are eligible, they will send instructions to your super fund to release the money, OR you will apply to your super fund, who will then go to the ATO for approval to release the money.  The process will become clear later this year once it becomes relevant. The contribution limits apply to an individual, so couples will be able to get twice the benefit if they have the capacity to contribute. Also, it’s probably stating the obvious, but this scheme works by saving you tax.  If you don’t pay any tax, or very little, then there’s likely to be little benefit in the First Home Super Saver Scheme for you.  As a rough guide, I’d imagine it would only be relevant for those earning at least $30,000 per year. So should you care about the First Home Super Saver Scheme?  Well if you’re trying to save a deposit for a home, and earn more than $30,000 per year, then I would say yes. You will save on tax, relative to building up your savings in a normal bank account or investment, and that means more funds available for your first home deposit. The government estimates the scheme will cost the budget $250million in forgone tax revenue over 4 years.  So for those who can use it, why not claim your fair share of that booty?   Click here to get the toolkit   In the toolkit for this episode, we’ve summarised the key elements of the First Home Super Saver Scheme and we have a link to a great calculator that will tell you the gain to be made depending on what your income is, and how much you salary sacrifice.  It tells you the per year benefit and the result over 3 years of saving.  It’s really easy to use and it’s great to really quantify the value of this strategy, so go to the financialautonomy.com.au web site, go to the toolkits page, and download that. Important Information: This information is of a general nature only and has been prepared without taking into account your particular financial needs, circumstances and objectives. While every effort has been made to ensure the accuracy of the information, it is not guaranteed. You should obtain professional advice before acting on the information contained in this publication.

There’s a template that all Australian’s are meant to follow. Study, enter the workforce, buy a house, raise kids, pay off a mortgage, retire. It’s served us pretty well for the past 100 years or so, so you know the saying about if it ain’t broke… But for an increasing number of Australian’s this model is broken. The original spark that started me on this Financial Autonomy journey was the realisation that the path from studying until around your early 20’s, then working in paid employment for the next 40 odd years, then retirement – the traditional path – was becoming less relevant, and a serious re-think was needed. Home ownership is an unspoken overlay applied to that traditional life path.  And whilst I certainly don’t believe that owning a home is a bad thing, in re-thinking how our life’s journey might unfold, I certainly think it’s worth questioning the place of home ownership as a core belief in one’s financial life. And it’s not even just the core assumption that we will buy a house, it’s the assumption that this should happen in our 20’s, or perhaps early 30’s if you’ve been really wild.  It’s really quite a rigid prescription for life. So in today’s audio blog we’re going to explore alternatives to the traditional home ownership path.  How can you achieve the Financial Autonomy goal of having choices in life, but chose the life path that makes sense for you. Download the toolkit here You’d have to have been living on Mars for the past decade to not be aware that house prices, especially in Melbourne and Sydney, have risen sharply.  The combination of extremely low interest rates, a growing population, and in some cases a lack of supply of new homes, has resulted in existing home owners becoming wealthy, at least on paper, and those outside the home ownership club wondering how they will ever break in. Reflecting this challenge, between 2002 and 2014, home ownership rates for 25 to 34-year-olds dropped nearly 10 points, to under 30 percent.  HECS/HELP debts certainly don't help. Now those facing this home ownership challenge could rail against the unfairness of it all, but in truth that’s likely to have as much impact as putting up an umbrella during a cyclone. How about instead, focusing on a Plan B?  Sure Plan A, the traditional path, worked for your parents, but so did smoking and Saturday afternoons at the TAB.  Things change. So how could you re-imagine your life journey, where the purchase of a home in your late 20’s or early 30’s, probably with a partner, is not in the plan? For the purposes of this episode I'm going to assume you've already looked into moving further out of town, going smaller etc.  You're at the point where buying a home is just not possible right now, or in the foreseeable future. If we’re to find an alternate path that works for you, it might be useful to consider why buying a home has been seen as such a cornerstone of financial security.  Home ownership is attractive because: It provides a guaranteed roof over our head – shelter is a basic human need, and if you own your home, no-one can kick you out. When you retire and have less income coming in, you have a roof over your head at little cost. Let me know if you can think of other reasons. So in finding an alternate path, we need to consider how we can solve for those two objectives. If you don’t own your home, then you’re renting.  And if you’re renting, then there is always the chance that the landlord could ask you to leave.  Now, if you pay your rent on time, and look after the property well, this isn’t a risk with an enormous probability of arising.  It does happen, but I think it’s a risk that is over estimated. Put yourself in the landlord’s shoes.  They’ve bought this property, and almost certainly borrowed to do so.  They want nice regular rent and no headaches.  They don’t want turnover of tenants, because then they have periods with no rent coming in, and they usually have to pay the managing agent to find a new tenant.  Landlords are vulnerable.  No rent coming in for a month, or damage to a property, and they’re likely to be hurting.  Smart landlords value a good tenant. So pay your rent on time and take care of the place, and the risk of you being asked to move becomes really quite small.  Not zero, for sure, but not highly probable.  Be the tenant a landlord wants to have in their property. Longer term financial security is certainly the stronger argument for becoming a home owner.  Finding money to pay rent when retired may well be a challenge unless it is well planned for.  So if it is the case that buying in the area where you want to live isn’t feasible, it becomes really important that you build financial wealth in other areas. So what might that look like? To start with you need a savings capacity.  If all your income goes back out the door in rent and living costs, then clearly there is no ability to build wealth and create a position of Financial Autonomy. I worked with a client recently who will be a long term tenant.  She was having trouble making the monthly finances work.  We explored various ways to solve this, but what it really boiled down to was that she was just paying too much rent given her take home pay.  We ascertained that rent was gobbling up 42% of her take home pay.  And then when she paid other housing related bills such as gas and electricity, half her income was gone. This wasn’t sustainable. So as a starting point, aim to have your rent at no more 30% of your take home (ie. after tax) income.  Of course the lower the better.  That may require some compromise as to location, or size of the place you rent, but it’s absolutely critical. With less than 30% of your income going towards putting a roof over your head, you will have enough money to live, and also have funds available to save and invest. Okay, so now you have a savings capacity, a foundation stone to you gaining choice through Financial Autonomy.  Initially that will build up in the bank, ideally in a separate account specifically for savings.  But with interest rates of next to nothing, the growth of your savings will be limited to how much you can tip-in. If you’re to really maximise your ability to build financial wealth, those savings need to be invested.  You need to develop an investment strategy that works for you on all levels – risk, time frame, and ethics.  Educate yourself and/or get professional help.  Check out episode 15 – The sharemarket – a beginner’s guide, and also the 3 part series on Common investment mistakes – episodes 12 to 14, to get you started - episode 12; episode 13; episode 14. You could set-up a strategy where you invest a regular amount every month, no different to paying a mortgage.  Unlike a mortgage though, it’s changeable as your circumstances change. Need to suspend contributions for a while whilst on maternity leave say?  No problem.  Get a pay rise and want to increase your contribution.  Easy. Over time your investment will grow to a very handy nest egg. For the person perusing the alternate path of non-home ownership, superannuation is likely to take on increased importance.   When (if?) you retire, either you will want to buy a home, or you’ll need sufficient income to continue to pay rent.  Either way, your super can help. A larger balance enables a large sustainable income to be withdrawn, covering rental costs.  Or, perhaps you withdraw a lump sum from your super to buy a home. Now of course the primary purpose of your superannuation savings is to provide income in retirement, so it’s no good taking out so much of your balance, such that the remainder won’t produce the sustainable income that you need.  So this is certainly something you’d want to think through carefully, and I’d strongly urge you to get some expert help. But the key takeaway for now, is that your super definitely provides a potential solution to the challenge of having an affordable roof over your head in later life. Share-houses are not a new concept.  Co-working spaces are a rising trend.  Whilst most of us like having some private space in our lives, going it alone in a housing sense is expensive.  Is there scope to team up with others to solve your housing need? This could play out two ways.  One would be to buy a place with someone else if that was affordable.  The traditional way is to do this with a life partner, but could you do it with friends or siblings?  Maybe 3 or 4 of you could go in together to buy a property, whether it be something you live in, or something you rent out. Alternatively you go for the share-house model whilst renting, as a way to bring down your housing costs and have more money available for savings and investment. Earlier I mentioned the increased importance of building wealth if you are to achieve Financial Autonomy without owning the home that you live in.  Just because it’s not viable to buy a home in the area that you wish to live, doesn’t mean you are prohibited from having a stake in the residential real estate market.  Could you afford to buy a property in another more affordable city, and rent that property out?  You may be able to use the negative gearing provisions to help with affordability.  In brief, negative gearing means that, where the interest expense on your loan each month is more than the rental income that you receive, you can claim that difference - that loss, to reduce the tax you would have ordinarily paid. Hopefully over time the value of the property grows, and perhaps you pay down the debt.  One day, you’ll own a home that either produces income for you later in life, or is perhaps an option to retire into. It’s not something that you want to build your life around, but receiving an inheritance from parents is a reality for many of us later in life.  Indeed, the rising price of housing that may have priced you out of the market, may have an upside in also inflating the inheritance you one day receive. Perhaps then the long term solution to your housing is that you rent until the inheritance occurs, and those funds provide you with the capital to buy something of your own. As mentioned, I wouldn’t encourage this as your primary strategy.  Your parents might spend all of their money, or simply chose to send their estate elsewhere.  I also find it just a bit distasteful to absolve yourself of doing anything towards your own financial security and rely on the work of those before you to provide. But with that caveat stated, when thinking through how you will achieve the security of owning a roof over your head in later life, perhaps an inheritance is an important component of the solution. The solution that’s right for you may well be a combination of these different strategy options – perhaps you buy a rental property and negative gear in your 30’s and 40’s, contribute a bit extra into super throughout your working life, and when an inheritance comes through, sell the rental property and buy a home for yourself. Regardless of the approach that’s right for you, I think a key change is that, if you do ultimately become a home owner one day, it will be later in life than may have once been assumed. So rather than beating yourself up about not owning a home, or paying down a mortgage, perhaps there just needs to be an adjustment in time frame. Perhaps it suits you to live inner city and rent during your peak earning years.  Sure, properties cost more in Melbourne or Sydney, but wages are also higher than most other parts of the country, so there may well be a robust argument to be made that your long term financial position is improved through you renting in the vicinity of the highest paying work. Then later in life you move out to a rural area, or a city where you can afford to buy.  Maybe the goal should be to own a home by the time you're 60 say.  The reality is that whilst in recent memory, Australian's have always worked to a formula of buy a home asap, that doesn't have to be the only way.    You can achieve Financial Autonomy without buying a home in your 20’s or 30’s.  With good planning, you won’t be financially doomed. In this week’s toolkit I’ve created a document called “7 Strategy options for non-home owners”, which dot points the various strategy options I’ve mentioned here.  There’s also the Budget tool, a piece on Risk vs Reward, and a summary of Sharemarket basics to get you started in learning about investments. Download the toolkit here

Listen to our podcast episode about the Hecs Help Benefit. Read the transcript here: Hecs Help Benefits The post HECS HELP Benefits Podcast appeared first on TNR Chartered Accountants Lismore Ballina Accounting, Tax Audit.

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