John Kavanagh
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Open banking ready for lift off

The Government introduced its consumer data right bill last week, which marks the beginning of the development of open banking in the Australian market. The new right, set out in Treasury Laws Amendment (Consumer Data Right) Bill 2019, is designed…

Government waters down super protection bill to ensure passage

The Government’s package of superannuation protection measures was passed in the Senate last week, but not before one of the key elements of the package, relating to life insurance exemptions, was removed. The new law introduces a cap of 3…

NAB hybrid pricing ‘looks attractive’

Researcher Morningstar has given NAB’s latest issue of hybrids, Capital Notes 3, the thumbs up, rating it “subscribe”. The notes are fully paid, subordinated, perpetual unsecured notes with a scheduled conversion date of June 2028. NAB can call the securities…

Qantas enters the high-end card market

Qantas has entered the high end of the credit card market, launching what it describes as an ‘ultra-premium’ card whose benefits include first class lounge access, a concierge service and flight discounts. Applicants will have to pass an income test.…

How your payment performance will be used in a loan application

Difficulties in making regular repayments on loans or failing to pay bills on time must be taken into account by lenders when assessing an application for credit, but will not necessarily rule out approval. The Australian Securities and Investment Commission…

Hayne recommendations will impact SMSFs

In the self-managed superannuation sector, a common response to the final report of the Financial Services Royal Commission is that it is of little consequence for SMSFs. But one industry expert disagrees. Peter Burgess, general manager technical services and education…

Kavanagh

Last week’s column generated a lively discussion on my LinkedIn page, with most of the responses taking issue with my critical comments about the mortgage broking industry. I have responded to some of those comments individually but I thought I…

Franking credits: time to consider your options

The debate over the Labor Party’s proposed changes to the tax treatment of franking credits picked up a gear last week, with accusations of manipulation of a parliamentary committee and a scuffle at a public meeting in Sydney. Through all…

Commercial property outlook improves

While investors are gloomy about the outlook for residential property, there are more positive signs in the commercial property sector. NAB’s latest Commercial Property Index, released last week, shows an increase in positive sentiment among property professionals in the December…

The rigours of applying for a home loan

When Commonwealth Bank released its half-year financial report last week, it included an update on its mortgage lending practices. For anyone about to apply for a home loan, it is essential reading. Since 2015 the bank has made a number…