The Finance Brokers Association of Australia has welcomed Scott Morrison’s first Budget, saying it will take the pressure off mortgage-holders and those trying to enter the property market.
The FBAA is a national association representing finance and mortgage loan writers across the country.
According to Peter White from the FBAA the measures in the Federal Budget will help home loans to stay accessible and within reach of working Australians.
“The tax cuts to small and medium sized businesses will go a long way to creating more jobs, while the overall tax package for individuals should help lift the burden on the household budget and relieve pressure on mortgage repayments,” he told The Adviser.
Mr White also applauded the Federal Government for leaving negative gearing and capital gains tax alone.
“Thousands of Australians will now be able to experience the benefits of investment property ownership, and as we’ve seen yesterday with most of the banks cutting rates after the RBA decision, the time is perfect for property purchasing.”