VIC records highest loan deferrals

VIC records highest loan deferrals

Figures released by the Australian Prudential Regulation Authority (APRA) on temporary loan repayment deferrals due to the coronavirus pandemic revealed that as at 30 November, 3.2 per cent of loans remain deferred in Victoria, compared with the rest of Australia at...
Small business insolvency reforms now in effect

Small business insolvency reforms now in effect

The reforms in the Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 were announced as part of the delayed 2020–21 federal budget. Under the reforms, eligible businesses experiencing financial distress can access a new, simplified debt restructuring...
Regulators hamstrung by pandemic restrictions

Regulators hamstrung by pandemic restrictions

The report, released by the International Organisation of Securities Commissions last week, found that investors globally piled money into often new and unfamiliar asset classes to attempt to profit during the volatility of the pandemic, while “predatory firm...
Aussies rely on debt to get through pandemic

Aussies rely on debt to get through pandemic

AMP’s 2020 Financial Wellness Report, found severe and moderate levels of financial stress are impacting 1.8 million Australian workers, with nearly half feeling financially stressed for an average of six and a half years or more. Read more at Nestegg.