Is competition driving the drop in cashbacks?
ANZ, MFAA comment on offer reduction ANZ has explained the rationale behind its decision to reduce its home loan cashback offer, citing competition as a contributing factor. According to RateCity.com.au data on Tuesday, the number of lenders cashback offers in the...
RBA holds cash rate steady
The Reserve Bank has paused the cash rate yet again as it waits to assess the impact of the previous 12 hikes. Following its August monetary policy meeting today (1 August), the Reserve Bank of Australia (RBA) has decided to hold the official cash rate steady at 4.1...
Banks launch anti-scam campaign
The Australian Banking Association (ABA) has launched a new campaign to raise awareness about scams. This is a very topical issue, with Scamwatch receiving 14,603 reports about bank impersonation scams in 2022, resulting in more than $20 million in losses, according...
ATO warns property investors
Property investors have been put on notice, after the Australian Taxation Office (ATO) said it would scrutinise their tax returns in an attempt to claw back an estimated $1.3 billion in missing taxes. The ATO told The Guardian that it would use “formal...