We once again find ourselves approaching the end of the current financial year (and what a year it has been!). Due to the COVID-19 pandemic, the ATO have increased the instant asset write-off threshold from $30,000 to $150,000. They have also expanded access to include businesses with a turnover of less than $500 million, up from $50 million.
Seek Financial is very excited to announce that we have been nominated as a finalist in the Queensland State Excellence Diversified Business Award at the annual Mortgage and Finance Association of Australia (MFAA) State Excellence Awards. The Awards highlight brokers, broker businesses and staff who have demonstrated exceptional customer service, professionalism, ethics, growth and innovation.
To all our valued clients and friends
At this unprecedented time the Seek Financial team would like to reassure you that whilst our focus is on the health and safety of our team and the wider community, it is business as usual for us.
We already have the infrastructure in place to allow us to work from home if needed, so please don’t hesitate to contact any of us if you need help with anything at all at any time during this crisis.
As finance professionals we sometimes catch ourselves using jargon and acronyms that may inadvertently render our message useless to a person who is not familiar with the language of a lender.
With this in mind, we thought it was a good idea to put together a guide to help you make the most of your finances, by understanding some of the banking terms that are commonly used in the ever-changing world of finance.
On January 1st 2020, the government rolled out their First Home Loan Deposit Scheme (FHLDS). This scheme is designed to help millennials buy a home sooner by removing the extra cost of Lender’s Mortgage Insurance (LMI).
Ten thousand borrowers will be eligible for the scheme this financial year with 3,000 spaces having already been taken. Another 10,000 spaces will become available from July 2020.