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More govt handouts to come next month - 28/01/2009
The federal government is expected to deliver a second big economic stimulus package as early as next month in response to the growing global financial crisis that is threatening to drive unemployment up in Australia. Bringing forward scheduled tax cuts, starting new infrastructure projects and additional funds to the welfare sector are all possible measures being contemplated by the government. "These are difficult times for all Australians and we need to work together so when we come out of this global financial crisis we will be a stronger society built on fairness and compassion," said the deputy Prime Minister Julia Gillard. "The Rudd government will look at all options to help get us through these difficult times and invest in jobs." Welfare lobby groups are calling for a rise in the level of unemployment benefits by $30 per week.
Source: The West Australian
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More for rent as houses fail to sell - 27/01/2009
The rental vacancy rate has increased to a national average of 3.3 per cent, easing the burden on renters. The Melbourne vacancy rate is now 3.9 per cent. The rate in Sydney is 3.6 per cent, while Hobart has the tightest market with 1.1 per cent of rental properties currently available according to research by SQM Research. Vendors are offering their properties for rent after they fail to sell said SQM chief executive Louis Christopher.
Source: The Australian Financial Review
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Cash advances may prove costly - 19/01/2009
The cost of making a cash withdrawal from a credit card accounts at an automatic teller machine may prove costly from March. Most banks charge a cash advance fee of around two per cent on each cash advance. Coupled with the new "convenience fee" of around $2 the cost of a $100 withdrawal would be $4.50.
Source: Herald Sun
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Increased grant encourages first home buyers - 15/01/2009
Retirees and people reliant on their savings have had their income hit hard in recent months. A couple with $120,000 in savings could have had their income from that asset slashed from about $8,700 per year down to about $4000 per year.
Online savings accounts are generally giving the best interest rates to depositors. Term deposits may be a good idea for savers in order to protect themselves against further rate cuts.
Source: The Australian
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