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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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BFCSA: Super plan to fast-track deposit for first-home buyers by putting an extra $60k per couple

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Super plan to fast-track deposit for first-home buyers

The Australian 12:00am January 12, 2018

Glenda Korporaal

 

Australians can boost their first-home savings by putting an extra $30,000 each, or $60,000 per ­couple, into their superannuation, federal Assistant Treasurer ­Michael Sukkar said yesterday.

He said allowing people to save through their superannuation would “provide a much-needed tax cut” to first-home buyers.

Under the changes, passed by parliament last month, people can contribute another $15,000 a year or a total of $30,000 to their super within the existing contribution caps.

This allows them to take advantage of lower tax rates on superannuation contributions and earnings.

From July 1, they can withdraw extra contributions made since July 1 last year, along with the earnings from those contributions, to help buy their home.

Mr Sukkar said the system would allow most first-home buyers to “accelerate their savings by at least 30 per cent”.

“I encourage eligible individuals to take advantage of this scheme which provides a significant leg-up in saving for a first-home deposit,” he said.

The government announced the measure in the May 2017 budget. It said the measures were part of a “comprehensive approach to housing affordability”.

 

 

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