April 13, 2023

April Update from Fiscal Artisans

We hope this update finds you well and in high spirits!

We’ve been working hard behind the scenes to make sure our clients are always on top of their financial game. With tax season approaching, it’s the perfect time to reflect on the goals we set at the beginning of the year and assess how we’ve progressed.

Our Team Members – get to know the people behind Fiscal Artisans.

At Fiscal Artisans, we believe that our team members are our most valuable asset. That’s why we’re excited to introduce you to the people behind our financial services. They’re diverse, each bringing their unique skills, experiences, and personalities to the table. From our friendly customer service reps to our highly skilled accountants, every team member is dedicated to providing excellent service and helping our clients achieve their financial goals. We take pride in the fact that our team is not only highly competent but also warm and approachable. So the next time you call or visit our offices, you can feel confident that you’re in good hands with our team of Fiscal Artisans.

Kate Boden – VA

We are excited to introduce Kate Boden, our new VA extraordinaire! With her extensive experience in both administrative and customer service roles, we are certain that Kate will be an invaluable asset to our team. Her attention to detail, strong organisational skills, and ability to multitask will ensure our operations run smoothly and efficiently. Not only does Kate bring valuable skills to the table, but her positive attitude and friendly demeanour make her a pleasure to work with. We are thrilled to have her on board and can’t wait to see all she will accomplish in her new role. Welcome to the team, Kate!

To email Kate for any of your requirements from us, click below

email Kate at Fiscal Artisans

Manish Kalani – Client Manager.

G’day everyone! It’s great to have Manish Kalani back in Oz after a decade away. Manish is returning with his family and embarking on a new chapter, Down Under. For those who don’t know, Manish has been an integral part of Fiscal Artisans since the beginning, churning out the financial nitty-gritty that keeps our operation ticking. But it’s not just about crunching numbers for Manish – he’s excited to get acquainted with everyone and get to know everyone on a more personal level. So welcome back, Manish, and all the best for this exciting new phase in your Aussie adventure!

Email Manish

Tax Planning sessions in April, May, & June

Are you looking to stay ahead of your taxes this year? Look no further than our Tax Planning sessions, held throughout April, May, and June. Our professional team of experts will guide you through the latest tax laws and regulations, providing you with the tools and knowledge needed to minimise your tax bill and maximise your returns. From individual tax planning to corporate tax strategies, our sessions cover it all. Don’t wait until the last minute; book your spot today and make tax season a breeze.

We will be contacting our business clients with a suggested date for our tax planning meeting, but you can also contact Kate at admin@fiscalartisans.com.au or 0400 338 501 to book an appointment. Or go to our appointment booking page for more information and to book in.

Events & Activities – Property Investment Seminar May 3, at 6:30 pm

Are you interested in investing in property and expanding your financial portfolio? Look no further than our upcoming Property Investment Seminar! Hosted by industry experts and seasoned investors, our seminar will equip you with the knowledge and skills necessary to make informed decisions and achieve financial success. We believe that anyone can achieve financial freedom through property investment, and our warm and supportive community will be with you every step of the way. Don’t miss this opportunity to grow your wealth and build a brighter future. Join us at the Property Investment Seminar and take the first step towards securing your financial future.

For more information, please go to: Property Investment Seminar.

We are looking at recording the session for our interstate clients and will have the video available to watch in the forthcoming weeks.

Walking & working with you

Managing finances can be overwhelming in the current economic climate – but having the right team of professionals to help you create a plan and prioritize your objectives is invaluable.

With Fiscal Artisans’ team of experts, you can rest assured that your finances are being managed with utmost care and precision throughout every step of the process. We understand our clients come from different backgrounds – whether you are looking to establish investments or reduce your debt – we will work with you to create an effective action plan!

Be sure to reach out for help so we can provide you with comprehensive solutions for your financial well-being. Take the initiative now – pick up the phone and call us for an appointment: let us help you truly make a difference in these economically trying times.

April 11, 2023

October 4, 2022

The Reserve Bank of Australia (RBA) has hiked the official cash rate by another 25 basis points to 2.60%. How will this rate hike impact your monthly mortgage repayments, and when will it happen?

At the beginning of May, the cash rate was just 0.10%. Today it increased for the sixth straight month to 2.60%.

It’s worth noting that the cash rate hasn’t been this high since July 2013, almost ten years ago.

The speed at which the increases have occurred has stressed many. And there are concerns about when it will stop. In reality, the Reserve Bank has probably been too slow, started acting too late, and may keep the rates going too long and then find themselves having to reduce rates sooner than planned.

The time to have started altering the cash rate was probably around July 2021, with small – 0.1 to 0.15% increases perhaps every 1 or 2 months – to cool the market before inflation took off. We don’t know whether there was economic or political pressure to avoid taking action, but we now have an overheated economy struggling to cope with the internal and external pressures evident daily in the news and the financial results personally, locally and globally.

We face further rate rises – perhaps taking the target cash rate to around 4% (a further 1.5% over the next few months) with maybe a pause for 3 – 4 months in 2023 before further ‘adjustments’ become necessary – that could go in either direction. The fact that this was a 25-point rise instead of another 50-point rise points to a possible easing by the RBA as they approach their desired ceiling. Inflation numbers will be key in the coming months – as will GDP and growth numbers. And the October Federal Budget could be a game changer. No pressure on the Treasurer at all!

RBA Governor Philip Lowe said that further increases were likely over the period ahead.

“The cash rate has been increased substantially in a short period of time. Reflecting this, the (RBA) board decided to increase the cash rate by 25 basis points this month as it assesses the outlook for inflation and economic growth in Australia,” said Governor Lowe.

How much extra will your mortgage be each month?

Unless you’re on a fixed-rate mortgage, the banks will likely follow the RBA’s lead and increase the interest rate on your variable home loan soon.

Let’s say you’re an owner-occupier with a 25-year loan of $500,000, paying principal and interest.

This month’s 25 basis point increase means your monthly repayments could increase by almost $75 monthly. That’s an extra $685 on your mortgage compared to May 1.

If you have a $750,000 loan, repayments will likely increase by about $110 monthly, up $1030 from May 1.

Meanwhile, a $1 million loan will increase almost $150 a month, up $1,380 from May 1.

So when exactly will this latest rate rise kick in?

When the RBA hikes the official cash rate, your bank will usually announce its own interest rate hike (and have its own notice period) for variable rates in the following days.

Let’s run through a quick example.

Assuming your monthly mortgage repayments are made on the 20th day of each month.

Let’s also assume you receive a notice from your lender this Friday (October 7) of their own subsequent rate increase, with a 30-day notice period.

By the time October 20 arrives, you won’t be paying higher repayments, as the full 30 days notice would not have passed.

When that 30-day notice finishes on November 6, the daily interest rate you’re charged will increase to the new amount.

That means when your monthly repayment on November 20 rolls around, you’d be charged at the new, higher rate (but calculated only from November 6).

By the time December 20 arrives, the monthly repayment amount you’re charged will fully reflect the new rate.

Some options we can help you explore include refinancing (which could include increasing the length of your loan to decrease monthly repayments), debt consolidation, or building up a bit of a buffer in an offset account ahead of more rate hikes.

If you’re worried about how you’ll meet your repayments in the months ahead, give us a call today. We can work with our associates and look at getting you the best deals on the market – even with your existing bank!

To start that process – and get a clear picture as to what your numbers look like – grab our fact finder at Fiscal Artisans Fact Finder

by Fiscal Artisans

September 28, 2022

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Book your home loan health check today

With interest rates on the rise, there has never been a better time to review your home loan.

Our team of brokers can look at the options available on the market, and compare the options to your current situation.

We can look at your rate, term, repayments, and equity, giving your loan a full check-up to make sure it’s still right for you and your current needs.

Then, if they can add value to what you already have, they will talk you through:

What rates are available for your loan options
100% offset options on fixed or variable loans
How LVR (your loan to value ratio) works
what other options are available to you

This can also be the start of your plans to look at your financial plans, whether that be an investment property, holiday home, renovations, debt consolidation or minimisation, or helping your children get into their first place.

Click here (Home Loan Fact Finder) to download the fact finder, then send it to us at info@fiscalartisans.com.au.

We will review the information and pass it to our finance associates to analyse. They will then get in touch with your to arrange a time to talk with you and discuss your alternatives and look at the best options on the market for your home loan options.

Find out how you can pay down your home loan faster, use your equity to reduce your tax liabilities and increase your wealth portfolio and set up your future plans.

Take advantage of this opportunity, and give your home loan a spring clean!

Home Loans – Fiscal Artisans