Weekly Digest – 29 July 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
ATO reveals which industries are most likely to dodge taxes
The community misses out on about $11 billion in taxes each year. The ATO has released its findings on the industries most likely to contribute to the “shadow economy”.
Why it might be a good time to invest in property
The combination of lower property values and the promise of ever-rising interest rates may mean that it’s an opportune time to invest in property.
How much do you need to retire?
The “million-dollar rule” is likely a myth. The Sydney Morning Herald breaks down how much you actually need to save to retire here.
Even higher interest rates coming
All four of Australia’s big banks expect further interest rate hikes in both August and September. The trend is not unique, as economies around the world have been raising rates in an attempt to combat inflation.
Higher income correlates with fewer cars per household
New data shows that surprisingly, poorer Australians tend to have more cars per household than rich Australians, with the pattern obvious across all states. The trend is explained by higher income earners typically living in prime real estate areas, where a car may not be necessary.
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