RETIRED people are really feeling the pinch as a result of historically low interest rates, which look set to continue for many years. Term deposit rates barely beat the inflation rate. The upper deeming rate is actually higher than even the best term deposit rate. A group of people who should be happy are property developers.
BEFORE the State Election, the Council of Social Service, NSW (NCOSS), Infrastructure Partnerships Australia (a developer lobby group) and the Baird Government signed a Memorandum of Understanding (MOU) to establish an affordable housing fund.
THE TENANTS’ Union of NSW and the Network of Tenants Advice & Advocacy Services are running a campaign to highlight how the interest from tenants’ bonds is spent.
When someone moves into a private rental property, they must pay up to four weeks’ rent in advance as part of their rental agreement as a guarantee to the owner that they will not damage the property or fall behind in rent.