<?xml version="1.0" encoding="UTF-8"?>
<!--Generated by Squarespace Site Server v5.11.81 (http://www.squarespace.com/) on Fri, 24 Feb 2012 04:42:13 GMT--><rss xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:itunes="http://www.itunes.com/dtds/podcast-1.0.dtd" xmlns:dc="http://purl.org/dc/elements/1.1/" version="2.0"><channel><title>Journal</title><link>http://www.hzs.com.au/journal/</link><description></description><lastBuildDate>Thu, 19 Jan 2012 00:47:51 +0000</lastBuildDate><copyright></copyright><language>en-AU</language><generator>Squarespace Site Server v5.11.81 (http://www.squarespace.com/)</generator><item><title>Cloud Computing</title><category>Bookkeeping</category><category>Business</category><category>Cloud Computing</category><category>Small Business</category><category>Small Business</category><dc:creator>Graham Beech</dc:creator><pubDate>Thu, 19 Jan 2012 00:31:12 +0000</pubDate><link>http://www.hzs.com.au/journal/2012/1/19/cloud-computing.html</link><guid isPermaLink="false">611016:7098678:14642896</guid><description><![CDATA[<p>Below is an article on Cloud Computing which we extracted from the <a href="http://www.smartcompany.com.au/">Smart Company</a> website. This is an excellent site to find useful information for any size business.</p>
<p>&nbsp;</p>
<h2>Five common cloud mistakes &amp; how to avoid the hype.</h2>
<p><span style="font-size: 14px; vertical-align: top;">Author: <em>Dave Stevens</em> on <span class="post">19 January 2012</span> </span><a title="Print" href="http://www.smartcompany.com.au/it-means-business/five-common-cloud-mistakes-and-how-to-avoid-the-hype/print.html" target="_blank"><img src="http://www.smartcompany.com.au/images/M_images/printButton.png" border="0" alt="Print" /></a>&nbsp;</p>
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<p>Something we can probably look forward to in 2012 is less hype around the cloud. That's because the cloud has now become one of the mainstays of business computing, more an expectation than a novelty.</p>
<p>If businesses aren't already using it, then chances are it will be an integral part of their next technology upgrade in the coming year.</p>
<p>With that in mind, here are some of the pitfalls I think businesses should watch out for when managing or making the move to the cloud.</p>
<h3>1. Seeing the cloud as a commodity</h3>
<p>The hype around the cloud has seen a lot of providers (especially the big telcos) offering cloud "services" that don't include service.</p>
<p>It's not impossible that your needs will be well met by such products, but keep in mind the fact that just because you're using cloud technology doesn't mean that your need for management, service and support will cease.</p>
<p>You're still going to need IT help, especially when it comes to integration, and if your cloud provider doesn't offer this, you'll likely eventually have to turn to someone else.</p>
<h3>2. Underestimating your bandwidth requirements</h3>
<p>While the cloud offers flexible and scalable computing, it also requires a good deal of bandwidth.</p>
<p>In the vast majority of cases, this won't be a problem, but, so as not to interrupt your business, it is something to plan for well ahead of time.</p>
<p>Web-based applications are usually efficient by design, but if you're going to use more data intensive client/server systems, it's important to consider whether you'll need thin client systems, WAN accelerators or terminal services to beat your bandwidth constraints.</p>
<h3>3. Failing to account for your compliance needs</h3>
<p>Generally, the higher your security and compliance requirements, the more expensive your cloud solution will be. Make sure that you're factoring in relevant PCI, ISO or other industry-specific standards from the outset.</p>
<p>Your cloud solution should be based on a complete understanding of compliance needs, especially around agreements already held with customers.</p>
<h3>4. Choosing the wrong provider</h3>
<p>Not all providers of cloud services are equal and it's vital that you evaluate your provider's service and security regimes. You need to be satisfied that you and your business will be working with people you can trust.</p>
<p>Consider the provider's market experience and reputation, as well as their partnerships with vendors, and talk to some of their existing customers.</p>
<p>Pay special attention to the provider's service level agreement (SLA) and remember that you can negotiate if you're not happy with its terms.</p>
<h3>5. Choosing the wrong provider</h3>
<p>Yes, I'm going to make this point twice because it really is vital to find the right match in a cloud provider. You're going to be trusting them with the management of the systems and applications that your business needs to operate, after all.</p>
<p>You must be sure that your business is going to matter to the provider in question. If you're an SME, it may not be in your best interests to be a small customer of a big provider, for example. Likewise, if you're a little larger, don't get caught with a provider who won't be able to meet your growing needs.</p>
<p>If you're considering the cloud in 2012, here are a few questions you might ask a prospective cloud provider:</p>
<ul>
<li>How is physical access to systems controlled and do you vet staff?</li>
<li>What firewalls and secure appliances are in place?</li>
<li>How will I securely connect to the cloud, and what encryption and authentication systems will be in place?</li>
<li>How will my data be kept separate on shared resources?</li>
<li>What redundancies and backup systems are in place?</li>
<li>What should I be doing on my own network?</li>
<li>What SLAs are in place and do penalties exist?</li>
</ul>
<p><em>Dave Stevens is managing director of managed IT services business, <a href="http://www.brennanit.com.au/">Brennan IT.</a></em></p>
<div style="padding-bottom: 10px;"><em>Dave is the founder and managing director of <a href="http://www.brennanit.com.au">Brennan IT</a>, one of Australia&rsquo;s leading SMB IT providers. In this blog Dave will explore the meeting-point between business and technology, covering issues from harnessing IT to drive business aims, to changes in the IT landscape and what they mean for SMBs.</em></div>
</div>]]></description><wfw:commentRss>http://www.hzs.com.au/journal/rss-comments-entry-14642896.xml</wfw:commentRss></item><item><title>Holiday Trading</title><category>Practice</category><category>Xmas</category><dc:creator>Graham Beech</dc:creator><pubDate>Thu, 22 Dec 2011 03:20:04 +0000</pubDate><link>http://www.hzs.com.au/journal/2011/12/22/holiday-trading.html</link><guid isPermaLink="false">611016:7098678:14224485</guid><description><![CDATA[<p>To you all I wish you&nbsp; Happy Holidays &amp; a safe &amp; prosperous New Year.</p>
<p>To my clients who have shown understanding &amp; support during what has been a difficult year for me thank you.</p>
<p>To my darling wife Janine, thank you for all your efforts, without you I do not know what would have happened.</p>
<p>We will be having a short break over Christmas/New Year. Our office will be closed from <strong>5:00pm Thursday 22 December, 2011 until 10:00am Monday 9 January 2012.</strong></p>
<p>&nbsp;</p>
<p>Mail, &amp; messages will still be checked during this period &amp; <strong>outstanding accounts</strong> can still be paid by direct deposit or mail.</p>
<p>&nbsp;</p>
<p><strong>Urgent messages</strong> can be sent to mobile 041 213 7750 (sms preferred) or <a href="http://www.hzs.com.au/contact-us/">email</a>.</p>
<p>Have a safe &amp; happy holiday.</p>
<p>&nbsp;</p>]]></description><wfw:commentRss>http://www.hzs.com.au/journal/rss-comments-entry-14224485.xml</wfw:commentRss></item><item><title>Reserve Bank Interest Rate Announcement</title><category>Interest</category><category>Interest Rates</category><dc:creator>Graham Beech</dc:creator><pubDate>Tue, 06 Dec 2011 03:51:40 +0000</pubDate><link>http://www.hzs.com.au/journal/2011/12/6/reserve-bank-interest-rate-announcement.html</link><guid isPermaLink="false">611016:7098678:13993883</guid><description><![CDATA[<p>The Reserve Bank has cut interest rates by 0.25 per cent.<br /><br />The reduction is good news for people paying off a mortgage.</p>
<p>The official interest rate is now 4.25 per cent. <br /><br />Many lenders don't automatically readjust repayments when rates are cut, meaning borrowers often have continue paying at the same rate and watch their loan shrink faster.</p>
<p>Lower interest rates is also good news for retail as consumers will be more comfortable spending in a market where interest rates are going down.</p>]]></description><wfw:commentRss>http://www.hzs.com.au/journal/rss-comments-entry-13993883.xml</wfw:commentRss></item><item><title>Need answers to your GST and property questions?</title><category>Income Tax</category><category>Property</category><dc:creator>Graham Beech</dc:creator><pubDate>Wed, 09 Nov 2011 23:57:19 +0000</pubDate><link>http://www.hzs.com.au/journal/2011/11/10/need-answers-to-your-gst-and-property-questions.html</link><guid isPermaLink="false">611016:7098678:13660206</guid><description><![CDATA[<p>We have released a new interactive goods and services tax (GST) property tool, which can assist you to correctly treat and report GST on your clients' property sales and other property related transactions. <br /><br /><span style="font-size: 120%;">The topics covered include:</span></p>
<ul>
<li><span style="font-size: 120%;">sale, lease or purchase of real property, including residential premises, commercial residential premises, commercial premises and vacant land </span></li>
<li><span style="font-size: 120%;">claiming GST credits </span></li>
<li><span style="font-size: 120%;">margin scheme eligibility </span></li>
<li><span style="font-size: 120%;">GST-free supplies of real property. </span></li>
</ul>
<p><span style="font-family: Arial; font-size: x-small;"><span style="font-size: 120%;">To access the tool, refer to </span><a  title="http://www.ato.gov.au/content/00296166.htm" href="http://www.ato.gov.au/content/00296166.htm"><span style="font-size: 120%;">GST property tool</span></a><span style="font-size: 120%;">. <br /></span></span></p>
<p><span style="font-family: Arial; font-size: x-small;"><em>Extracted from ATO eLink 43/2011</em></span></p>]]></description><wfw:commentRss>http://www.hzs.com.au/journal/rss-comments-entry-13660206.xml</wfw:commentRss></item><item><title>Tax help for small business affected by job cuts at BlueScope Steel</title><category>Contractors</category><category>Small Business</category><category>Small Business</category><dc:creator>Graham Beech</dc:creator><pubDate>Wed, 02 Nov 2011 05:15:27 +0000</pubDate><link>http://www.hzs.com.au/journal/2011/11/2/tax-help-for-small-business-affected-by-job-cuts-at-bluescop.html</link><guid isPermaLink="false">611016:7098678:13561348</guid><description><![CDATA[<p>&nbsp;</p>
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<h1><span id="_ctl0__ctl0_MainContentPlaceHolder_HeadingContentPlaceHolder_HeadingLabel" style="color: #008cba;">Tax help for small business</span></h1>
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<h2><a name="H1">Assistance for small businesses</a></h2>
<p>We invite small business operators to attend free one-on-one information sessions to help them stay on track with their tax and super obligations.</p>
<p>An experienced tax officer will be available to answer questions and provide advice on various business tax related topics.</p>
<p>Bookings are essential - to book your spot:</p>
<ul type="disc">
<li>phone us on <strong>13&nbsp;28&nbsp;69</strong> (between 8.00am and 5.00pm, Monday to Friday) </li>
<li>book <span style="text-decoration: underline;"><a href="http://www.ato.gov.au/businesses/smallbusiness.asp" target="_top">online</a></span><a name="P8_475"></a>.</li>
</ul>
<p>These visits are part of our Small Business Assistance Program, which delivers tailored and practical assistance to small business at various stages of their business cycle.</p>
<p>The Commissioner Michael D'Ascenzo has said recent assistance visits held across the country have been well received by local businesses.</p>
<ul>
<p>'Feedback from people who have attended sessions is very positive - most found the assistance offered was genuinely helpful.</p>
<p>Our Small Business Assistance Program offers a range of services that encourage new businesses down the right path, and help existing businesses get back on track and stay there.</p>
<p>Last financial year the small business assistance program directly helped over&nbsp;100,000 small businesses' Mr D'Ascenzo said.</p>
</ul>
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<p>&nbsp;</p>
<p style="padding-left: 60px;">&nbsp;<em>Extracted from ATO Website</em></p>
<p style="padding-left: 60px;"><a href="http://www.ato.gov.au/businesses/content.aspx?doc=/content/00224567.htm">http://www.ato.gov.au/businesses/content.aspx?doc=/content/00224567.htm</a></p>
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</table>]]></description><wfw:commentRss>http://www.hzs.com.au/journal/rss-comments-entry-13561348.xml</wfw:commentRss></item><item><title>Reserve Bank Interest Rate Announcement</title><category>Interest</category><category>Interest Rates</category><dc:creator>Graham Beech</dc:creator><pubDate>Tue, 01 Nov 2011 23:29:25 +0000</pubDate><link>http://www.hzs.com.au/journal/2011/11/2/reserve-bank-interest-rate-announcement.html</link><guid isPermaLink="false">611016:7098678:13557793</guid><description><![CDATA[<p>The Reserve Bank has cut interest rates by 0.25 per cent.<br /><br />The 25 basis point fall is the first movement in rates since Melbourne Cup Day 2010 and has been widely tipped since lower-than-expected inflation figures were released last week.</p>
<p>The 25 basis point reduction is good news for people paying off a mortgage.<br /><br />"This fall in rates will be greatly appreciated by households as it will put an extra $60 into their pockets each month," says <a title="http://click.email.domain.com.au/?qs=1ce7e83f7eb0dc6e767fb0de71580f490a519653ebf545a0b20313d127ee6627" href="http://click.email.domain.com.au/?qs=1ce7e83f7eb0dc6e767fb0de71580f490a519653ebf545a0b20313d127ee6627" target="_blank">Domain</a> property expert Carolyn Boyd. <br /><br />The official interest rate is now 4.5 per cent. Until today, mortgage holders on variable interest rates were being charged a standard variable rate of about 7.83 per cent by their lenders.<br /><br />Each 0.25 per cent drop in interest rates slices about $60 off the monthly interest cost of an average Australian mortgage.</p>
<p>Boyd says it's a good idea for mortgage holders to keep paying their loans at the same rate they have been for the last year, and not take advantage of the opportunity to decrease their repayments.</p>
<p>"You'll still get any rate cut your lender passes on, of course, but if you keep your repayments at the same level, you will pay your loan off sooner and build a buffer for any unexpected rough spots."</p>
<p>Today's rate cut will provide a welcome boost to the property market, which has slowed in the last year and remains subdued in most parts of Australia. It could also improve the confidence of potential first home buyers.</p>
<p>Further details on what the decision to decrease interest rates to 4.5 per cent means to you and the Australian property market will be outlined in this week's Domain Property Newsletter. If you are not already subscribed to our FREE weekly newsletter, <a title="http://click.email.domain.com.au/?qs=1ce7e83f7eb0dc6ea99017013cf0524423bfae4408c04b445f73a4c8027956b3" href="http://click.email.domain.com.au/?qs=1ce7e83f7eb0dc6ea99017013cf0524423bfae4408c04b445f73a4c8027956b3">click here to subscribe</a>.<br /><br /><em>Article provided by domain.com.au</em></p>
<p><em>&nbsp;</em></p>
<p>At the moment it appears that the issues in Europe &amp; our 2 speed economy has caused enough concern for the RBA to reduce the interest rate. The lowering of the interest rate may also help business to invest in capital as well as make Australia more competitive in the export markets. Lower comparative interest rates will help bring down the dollar, making imports more expensive &amp; exports cheaper for international markets.</p>]]></description><wfw:commentRss>http://www.hzs.com.au/journal/rss-comments-entry-13557793.xml</wfw:commentRss></item><item><title>NIB holdings limited (nib) - 2011 return of capital (capital return)</title><category>CGT</category><category>Income Tax</category><category>Tax</category><dc:creator>Graham Beech</dc:creator><pubDate>Wed, 26 Oct 2011 05:30:16 +0000</pubDate><link>http://www.hzs.com.au/journal/2011/10/26/nib-holdings-limited-nib-2011-return-of-capital-capital-retu.html</link><guid isPermaLink="false">611016:7098678:13468006</guid><description><![CDATA[<p><span id="_ctl0__ctl0_MainContentPlaceHolder_MainContentPlaceHolder_ContentSpan"><a name="TopOfPage"></a>&nbsp;
<p><a name="P2_85"></a>This information applies to you if:</p>
<ul type="disc">
<li>you are an individual, not a company or trust </li>
<li>you are an Australian resident for tax purposes </li>
<li>you held shares in nib and received the return of capital in July 2011 </li>
<li>you did not acquire your shares under an employee share scheme, and </li>
<li>any gain or loss you made on the shares is a capital gain or capital loss - this means that you held your shares as an investment asset, not 
<ul type="circle">
<li>as trading stock </li>
<li>as part of carrying on a business, or </li>
<li>to make a short-term or 'one-off' commercial gain.</li>
</ul>
</li>
</ul>
<h2><a name="H1"></a><a name="P11_629"></a>Background</h2>
<p>All shareholders who held nib shares on 13&nbsp;July 2011 (record date) were entitled to receive the capital return.</p>
<p>The capital return was completed on 21&nbsp;July 2011.</p>
<p class="heading2anotoc"><a name="P14_801"></a>Components of the capital return</p>
<p>The capital return was $0.1607 per share. This payment was a capital payment. It was not a dividend for any purpose and had no dividend component.</p>
<p class="heading2anotoc"><a name="P16_979"></a>Are there any tax consequences for me?</p>
<p>There are two tax consequences. You need to:</p>
<ul type="disc">
<li>work out whether you have made a capital gain (you cannot make a capital loss on a capital return) </li>
<li>adjust the cost base (and reduced cost base) of any nib shares you owned on 21&nbsp;July 2011.</li>
</ul>
<div id="_ctl0__ctl0_MainContentPlaceHolder_MainContentPlaceHolder_LastModifiedPanel">
<p class="ModifiedDate">Last Modified: Monday, 24 October 2011</p>
<p class="ModifiedDate">&nbsp;</p>
<p class="ModifiedDate">See <a href="http://www.ato.gov.au/content/00296286.htm">ATO Websit</a>e for more information.</p>
</div>
</span></p>]]></description><wfw:commentRss>http://www.hzs.com.au/journal/rss-comments-entry-13468006.xml</wfw:commentRss></item><item><title>Guide to property</title><category>FBT</category><category>GST</category><category>Income Tax</category><category>Property</category><dc:creator>Graham Beech</dc:creator><pubDate>Wed, 12 Oct 2011 06:57:32 +0000</pubDate><link>http://www.hzs.com.au/journal/2011/10/12/guide-to-property.html</link><guid isPermaLink="false">611016:7098678:13170105</guid><description><![CDATA[<p><span id="_ctl0__ctl0_MainContentPlaceHolder_MainContentPlaceHolder_ContentSpan">&nbsp;
<h2><a name="H1"></a><a name="P1_17"></a>Overvi<a name="P1_23"></a>ew</h2>
<p><a name="P2_25"></a>Your home is generally exempt from tax. If you have an investment property, build or renovate for profit, or use a property in the running of a business, there may be implications for income tax, capital gains tax and goods and services tax (GST).</p>
<p><span style="text-decoration: underline;"><a href="http://www.ato.gov.au/content/distributor.aspx?menuid=0&amp;doc=/content/00262404.htm&amp;page=2#P23_2533">Your home</a></span><a name="P3_281"></a></p>
<p>In most cases there are no tax implications for the home that you live in, and no tax implications when you sell it. This situation may change if you rent out part of your home or use it for work, or it's on more than 2 hectares of land. If you're saving for your first home, you may be eligible for government contributions to help you build your savings quickly.</p>
<p><span style="text-decoration: underline;"><a name="P5_650" href="http://www.ato.gov.au/content/distributor.aspx?menuid=0&amp;doc=/content/00262404.htm&amp;page=12#P350_26420">Inheriting a dwelling</a></span><a name="P5_671"></a></p>
<p>There are usually no capital gains tax implications at the time you inherit a dwelling. Capital gains tax may apply when you subsequently sell or otherwise dispose of the dwelling.</p>
<p><span style="text-decoration: underline;"><a href="http://www.ato.gov.au/content/distributor.aspx?menuid=0&amp;doc=/content/00262404.htm&amp;page=13#P442_33985">Residential rental properties</a></span><a name="P7_881"></a></p>
<p><a name="P8_881"></a>If you rent out property to others, you must declare the income in your tax return, and you can claim tax deductions for many of the related expenses. You may have to pay capital gains tax when you sell the property.</p>
<p><span style="text-decoration: underline;"><a href="http://www.ato.gov.au/content/distributor.aspx?menuid=0&amp;doc=/content/00262404.htm&amp;page=26#P816_62982">Vacant land</a></span></p>
<p>Vacant land is generally a capital asset that is subject to capital gains tax. However, if you purchase the land for resale to earn a profit, or use the land in a business-like way, it is considered trading stock. In this case you treat proceeds from the land as ordinary income, and you may need to register for GST.</p>
<p><span style="text-decoration: underline;"><a name="P11_1426" href="http://www.ato.gov.au/content/distributor.aspx?menuid=0&amp;doc=/content/00262404.htm&amp;page=27#P858_66882">Subdividing</a></span><a name="P11_1437"></a></p>
<p>If you subdivide land - including if you subdivide land adjacent to your home - the subdivided land will generally be subject to capital gains tax. However, if you purchase land to subdivide and resell for a profit, or use the subdivided land in a business-like way, the proceeds may be treated as ordinary income and you may need to register for GST.</p>
<p><span style="text-decoration: underline;"><a href="http://www.ato.gov.au/content/distributor.aspx?menuid=0&amp;doc=/content/00262404.htm&amp;page=30#P940_72569">Property development, building and renovating </a></span><a name="P13_1838"></a></p>
<p>If you build new residential premises for sale, you'll be liable for GST on the sale and entitled to claim GST credits for related purchases. If you renovate a property and sell it for a profit, there could be implications for income tax, capital gains tax and GST.</p>
<p><span style="text-decoration: underline;"><a href="http://www.ato.gov.au/content/distributor.aspx?menuid=0&amp;doc=/content/00262404.htm&amp;page=33#P1051_81887">Property used in running a business</a></span><a name="P15_2140"></a></p>
<p>If your property is used to run a business - whether it's commercial premises like a shop or office, or even your own home - there will be income tax implications while you own it and capital gains tax implications when you sell. You may also be liable for GST, and entitled to claim GST credits, when you buy, sell, lease or rent commercial premises.</p>
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<p><span style="text-decoration: underline;"><a href="http://www.ato.gov.au/corporate/pathway.aspx?pc=001/001/047" target="_top">Property - home</a></span><a name="P21_2528"></a></p>
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<p class="ModifiedDate">Last Modified: Wednesday, 5 October 2011</p>
<p class="ModifiedDate">&nbsp;</p>
<p class="ModifiedDate"><em>Extracted from ATO Website </em><a href="http://www.ato.gov.au/content/00262404.htm"><em>http://www.ato.gov.au/content/00262404.htm</em></a></p>
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</div>]]></description><wfw:commentRss>http://www.hzs.com.au/journal/rss-comments-entry-13170105.xml</wfw:commentRss></item><item><title>RBA Interest Announcement</title><category>Interest</category><category>Interest Rates</category><dc:creator>Graham Beech</dc:creator><pubDate>Tue, 04 Oct 2011 23:58:05 +0000</pubDate><link>http://www.hzs.com.au/journal/2011/10/5/rba-interest-announcement.html</link><guid isPermaLink="false">611016:7098678:13081094</guid><description><![CDATA[<p>The RBA has again held the interest rate steady at 4.75%. Uncertainty in Europe &amp; higher levels of savings &amp; lower retail spending&nbsp;in Australia &nbsp;is now putting pressure on the RBA to lower the rate. This is in stark contrast to the situation a few months ago when it was expected that interest rates would go up again before Christmas.</p>]]></description><wfw:commentRss>http://www.hzs.com.au/journal/rss-comments-entry-13081094.xml</wfw:commentRss></item><item><title>Reserve Bank Interest Rate Announcement</title><category>Interest</category><category>Interest Rates</category><dc:creator>Graham Beech</dc:creator><pubDate>Wed, 07 Sep 2011 07:48:40 +0000</pubDate><link>http://www.hzs.com.au/journal/2011/9/7/reserve-bank-interest-rate-announcement.html</link><guid isPermaLink="false">611016:7098678:12758477</guid><description><![CDATA[<div class="entry">
<p>The Reserve Bank decided to keep rates on hold at 4.75 per cent . Commentators expectations were mixed, with both rate rises &amp; falls expected. A softening housing market, negative retail spending trends &amp; high savings levels all put downward pressure on the rates while overseas factors is pushing interest rates up. The RBA has taken a wait &amp; see attitude until clear trends appear.</p>
</div>]]></description><wfw:commentRss>http://www.hzs.com.au/journal/rss-comments-entry-12758477.xml</wfw:commentRss></item></channel></rss>
