Fri, 4th Oct 2024

In this episode of the Financial Services Online daily news wrap, we discuss pressing concerns in the Australian financial scene. The Reserve Bank of Australia has flagged an increasing number of households under financial stress, calling for relief measures and tax cuts expected by 2026. In banking, ANZ has amended savings account terms to encourage balance growth, though the feasibility of meeting these conditions remains variable. The critical issue of cybersecurity threats to small businesses is also mentioned, with losses averaging $30,000. Authorities encourage the usage of the government's Cyber Health Check initiative to bolster online security. The episode closes with updates from the Australian Taxation Office revealing that some financial advice fees relating to tax services and income protection insurance may now be tax deductible. Stay informed with Financial Services Online by visiting their website for detailed analyses.n