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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the property price movements, fintok and finfluencers, and tax time.

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Steve Waters, director of Right Property Group, chats about the resilience of the property market in Victoria, where another lockdown is currently in place, as well as Westpac’s latest surprising predictions for property price movements.

RMIT’s senior lecturer of finance, Dr Angel Zhong, reveals the rise of fintok and finfluencers and the dangers social media presents to financial markets.

And lastly, tax and super guru Timothy Munro talks about tax time. He reveals what Aussies need to be mindful of as we head towards 30 June, and why some should look at engaging a professional this tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Budget scheme to give NSW adults $100

By Cameron Micallef

November 17 2020
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Invest

Budget scheme to give NSW adults $100

By Cameron Micallef
November 17 2020

Every adult in NSW will be given $100 to spend on entertainment or dining as part of the state’s $500 million cash splash to stimulate struggling sectors from the COVID-19 recession.

Budget scheme to give NSW adults $100

By Cameron Micallef

November 17 2020
Share

Every adult in NSW will be given $100 to spend on entertainment or dining as part of the state’s $500 million cash splash to stimulate struggling sectors from the COVID-19 recession.

The 2020-21 budget, to be handed down by Treasurer Dominic Perrottet on Tuesday, 17 November, is expected to include a range of measures to help kickstart the economy.

The cornerstone of the government’s plan known as “out & about” will see every adult in the state get four $25 vouchers to spend on eating out, entertainment and cultural events in a bid to boost industries that have been impacted the hardest.

“We want to encourage people to open up their wallets and contribute to the stimulus effect,” Mr Perrottet told The ABC.

“The dining and entertainment industries were among the hardest hit by the pandemic, and I would encourage people to utilise this scheme once it is up and running and to make sure they spend a bit extra on the way through, too.”

The vouchers can only be used once, and they can’t be combined. That means if you spend less than the $25 in one go, the outstanding voucher amount will expire.

However, the voucher comes with exclusions, including on alcohol, gambling, cigarettes or retail products.

The government may also look to restrict usage of the vouchers to just weekdays, or even between Mondays and Thursdays in order to ensure venues are remaining COVID-safe.

The stimulus measures are only being rolled out to boost venues in the Sydney CBD, but the government will expand locations in early 2021.

The package will be part of a host of measures announced by the government with the aim of keeping people in jobs and creating new ones.

The government will also announce additional or fast-tracked funding for infrastructure projects such as Sydney Metro West, the Royal Prince Alfred Hospital redevelopment and major regional highway upgrades.

“When construction is falling away in the private sector, we are stepping up and filling that void,” Mr Perrottet said on Monday.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

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