As tax time approaches, the Australian Taxation Office has warned that it will pay close attention to claims for work-related clothing and laundry expenses.
CBA have come to an agreement with AUSTRAC to pay a $700 million penalty relating to serious breaches of anti-money laundering and counter-terrorism financing laws.
Australians, shocked by the stories coming out of the Banking Royal Commission, are investigating alternative options for their finances, such as mutual banks, building societies and credit unions.
This Mother’s Day, there are 114,800 mums who work, study and care for their children under the age of 15 at the same time, according to the Australian Bureau of Statistics (ABS). The number of Australian mums in paid employment is reportedly on the rise, making a big difference to the likelihood of their households ending up in financial stress.
Switching banks, phone plans or energy companies may become much simpler and easier in the future, with the help of a new federal government Open Banking initiative that gives consumers the right to access to their banking data.
Popping down the street for a chat with your local banker or even to use the ATM appears to be falling out of favour, with Australians increasingly turning to mobile and phone banking to manage their personal finances.
Roy Morgan research has found customer satisfaction with the banks in the six months to March 2018 was at 80.9 per cent, down 0.1 percentage points from February.
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