Accounting & Tax Audit Finance Financial Planning Self Managed Super

5 million+ struggle with mortgage payments

New nationwide research released by ASIC’s Moneysmart reveals that 47% of Australian adults with debt, the equivalent of 5.8 million people, have struggled to make repayments in the last 12 months.

Alarmingly, the research revealed that more than half surveyed, said they are not aware that they are entitled to ask their bank or lender for financial hardship assistance and just one in five said they had ever sought financial hardship assistance. Around 30% also stated that they would not seek a hardship assistance arrangement from their bank or lender and instead sell assets or get a second job rather than talking to their bank.

Latest

News

ATO Reminds Taxpayers about being careful with work related deduction claims

With the 2025 tax season fast approaching the Australian Taxation Office (ATO) is reminding taxpaye ... read more

Economic crossroads: US shrinks, China stimulates, Australia holds steady 

The US economy experienced a notable slowdown in the first quarter of 2025. The latest GDP data sho ... read more

Labor’s victory: unpacking the promises and priorities

As the Labor party settle back into their seats having secured a majority in the House of Represent ... read more