1. Australia is doing better than most of the rest of the world. According to a recent international business confidence survey, Australia is perceived as the best country in the world to cope with the global financial crisis (GFC).
2. Unemployment can be a time to reconsider your career goals and retrain to do something you always wanted to do.
3. Property is one of the biggest ways ordinary Australians make money and it has never been so ripe for investment. Prices and interest rates are low and rental returns are decent.
4. Our natural resources make us well placed for another nice run on the stock market when there is eventually an upturn.
5. Oil prices are low for now. Filling up on petrol and travelling around Australia is now nearly cheaper than flying. Flights have become cheaper too!
6. Our dollar is okay for travelling overseas, recovering recently to US$0.80.
7. You have a perfect excuse not to go to any event you don’t want to go to. For example, if you’d like to avoid going to your annoying relative’s hen’s night just say you can’t afford it!
8. Sales are really sales and often you’ll be the only one there! (Spend the money from the hen’s night you escaped.)
9. The 50 per cent investment allowance means it is possible, for those who qualify, to get up to a 140 per cent tax deduction on a new car! Now that’s just crazy. The more expensive the car, the greater the value of the tax deduction you’ll get.
10. The cash grab. A bit like father Christmas, the federal government is handing out cash and asking people to spend it — on anything. The small problem is we’ll all have to pay for it one day, but it is fun having cash and being told we must spend it!
Virginia Graham is a mortgage broker for Model Mortgages.
Your say: What are your reasons to be happy about the GFC? Email us on [email protected]
