The chart below, borrowed from our sister site Exfin, looks at how the Australian dollar has performed against 4 major currencies - the USD, GBP, Euro and JPY - over the past two months to the end of July, 2013.
The results of the OECD's first international survey of adult skills shows that Australian adults perform very well compared to other developed countries when it comes to literacy skills, but when it comes to numeracy the performance is only average.
Legislation was introduced into the Australian Parliament this week to increase compulsory employer super guarantee (SG) contributions from 9 per cent to 12 per cent. This is to be done in regular stages over the next seven years and the current age limit of 75 for making contributions will also be removed.
Offshore Term Deposits - A poor deal for Australian expats and offshore investors
Australian banks consistently offer poor value to Australian expatriates and foreign investors wanting to place cash in Australian dollar term deposits and at call accounts. The rates in the Australian domestic market continue to provide much better returns on your money, evening having regard to the
Recent RBA recent have seen Australian interest rates fall to their lowest levels since 1959. Typically, Australian expatriates once overseas rarely review their mortgage arrangements; usually on the presumption that is just too much of a hassle, or that somehow the changes will be reflected in their mortgage payments.
We very much support the idea of Australians spending all or part of their retirement offshore - cost of living differences mean that they can potentially have a much more relaxed and enjoyable lifestyle. It's not for everyone - you need to factor in the impact of prolonged absences from family and lifelong friends - but it is certainly an option that is worthwhile considering.