Morning all (UK time anyway!)
I was reading about First Home Saver Accounts which can be opened in Oz. Essentially it seems that for every $5000 you save the Oz government will contribute 17% at the end of the financial year ($850). You also will only get taxed at 15% on this money.
The drawbacks are that the money cannot be withdrawn until four separate financial years but is withdrawn tax free.
I am not sure how great a deal this is, i guess you have to weigh it up against putting money in a high interest account and not being loked into a four year term.
Anyhoo thought it might be of interest for someone. You can find out more at:
Home Saver Accounts - Fact Sheet
Also, i read in the paper this morning that ANZ are predicting a further 2 more interest rate rises in August and November this year pushing borrowing rates into double figures. AArgh if this is true
Cheers
