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In case you missed it this week, NSW confirms stamp duty reforms from 2023, new financial hardship reforms welcomed and the mortgage industry urges a review on broker regulation reforms, tune in below.
NSW confirms stamp duty reforms from 2023
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First home buyers in NSW will be able to choose between an upfront payment or a smaller annual property tax from next year under First Home Buyer Choice reforms.
Plug gaps in broker regulations, says MFAA
The industry body has urged the government to touch up recent reforms made across reference checking, breach reporting and design and distribution obligations.
FBAA warns against merging credit licensing with AFSLs
As the Australian Law Reform Commission has considered consolidating the licensing regimes for credit and financial services, the broker body has warned it would likely add complexity.
New financial hardship reforms welcomed
The mortgage and finance industry has welcomed new reforms on financial hardship that will make the credit reporting process more transparent.
Web of definitions weighing down financial services law: ALRC
Industry players have backed a call to simplify definitions across financial services legislation, with broker bodies pointing to issues around how credit is governed.
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