Money Smart

Compare mortgage rates + Solar investment scam + Greenwashing

How much will your mortgage repayments be?

  • Use our calculator to compare different rates

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Scam alert: United Solar Investments

  • United Solar Investment promotes a suspicious scheme which claims to allow Australian consumers to purchase an interest in solar panel systems. The scheme is being promoted as a ‘financing of photovoltaic solar power generation’ offering unrealistic returns of up to 20% and unlimited referral commissions.

Click here to read full article.

Investing without the greenwashing 

Find out what ESG investing is and how it works. So you can choose investments that match your goals and values.

What ESG means

  • ESG investing is when a fund considers sustainability (including environmental, social and governance factors) to inform their investment strategy.

  • There is a growing demand for ESG investing, also known as sustainable (or sustainability-related), responsible or ethical investing.

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Scam alert: Fake bill and loan discounts

  • ASIC is alerting investors about an impersonation scam using email and cold calling tactics

  • Scammers are making fake offers of 30% discounts on bills and loan repayments

  • Unless you are dealing directly with the service provider, discount billing and upfront payment offers are often scams.

Scammers are using free email services to falsely impersonate a registered company to make fake discount offers on bills and loan repayments. Discount offers from third parties are often fake, especially when they make the offers by cold calling you.

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Identity theft - Protect your personal information

If your personal information falls into the wrong hands, it can be used to steal your identity.

If you've been affected by the recent Optus data breach, the Office of the Australian Information Commissioner has information on how to respond to a data breach.

The ACCC's Scamwatch has released information on the latest scams arising from the breach. 

It's important to:

  • report the breach to your bank and super fund

  • change your passwords

  • be on the lookout for suspicious emails, phone calls, texts or messages through social media

  • keep close watch on your bank account for any unauthorised transactions

  • request a temporary ban on your credit report to ensure no unauthorised loans or applications

Natural disasters and your home insurance

It's devastating when a natural disaster destroys or damages your home. Finding out you don't have enough insurance can add to your distress.

Understanding what events and damage are covered by insurance can help you get the right cover for your home.

Knowing if you live in a disaster-prone area can give you a better understanding of your risk. This helps you choose coverage for the events that are most likely to happen to your home.

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Warning: Scammers offering fake green bonds

  • ASIC is alerting investors of the existence of a number of fake green bonds.

  • In Australia, green bonds are not directly available to the general public or retail investors. Any website or entity claiming otherwise is a scam.

  • Scammers may represent themselves as well-known financial services firms and invite people to invest in fictitious environmentally sustainable green bonds.

ASIC is aware of the existence of a number of fake green bonds. Green bonds are bonds that are used to finance new and existing projects that offer climate change and environmental benefits. They can be purchased by superannuation funds, fund managers, insurance companies and other wholesale entities, but are not directly available to the public.

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Investing and tax - How income from your investments is taxed

Lower tax on your investments can help you reach your financial goals sooner. But don't choose an investment based on tax benefits alone.

You need to include investment income in your tax return. This includes what you earn in:

  • interest

  • dividends

  • rent

  • managed funds distributions

  • capital gains from property, shares and cryptocurrencies


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Memory loss, dementia and your money

Memory loss can make it difficult to stay in control of your money. Things like checking bank statements or investments, or paying bills may become challenging.

If you're starting to struggle, it's time to put some safeguards in place. A few simple steps will help you and your loved ones protect your money and prepare for the future.

  • Start planning

  • Appoint an enduring power of attorney

  • Update your will

  • Get your super in order

  • Sort out your important documents

  • Protect yourself from financial abuse


More details about the article here

Warning: Telstra bonds investment opportunities are fake

  • ASIC is alerting investors about fake Telstra Corporation Limited (Telstra) corporate bonds

  • Scammers are promoting Telstra bonds offered on the ASX to legitimise the existence of the fake bonds

  • Do not buy bonds from Telstra (or any other company) that are offered via email or as a recommendation from a comparison website – these are a scam.

Read here for more information

An introduction to Exchange Traded Funds (ETF)

Exchange traded funds (ETFs) are a low-cost way to earn a return similar to an index or a commodity. They can also help to diversify your investments. You can buy and sell units in ETFs through a stockbroker, the same way you buy an sell shares.

Click here to read on how ETFs work, types of ETFs, pros and cons of investing in ETFs and how to trade ETFs.