Investing in Property is far better than having your money in Deposits in our Banks

Property For Sale - 58a Ocean Street, Pagewood

What do you know about the ‘Bail In’ Laws?

The Turnbull Morrison government rushed this legislation through Parliament on the 14th February 2018, with only 8 Senators present in the Senator Chambers and without a recorded vote.

The chair of the Senate Economics Legislation committee conducted an enquiry into the Legislation. Senator Jane Hume insisted to the continuance, that it was not a bail in law. Apparently, it was not the intention of the law to bail in deposits.

However, the government rushed the legislation through the senate knowing that Pauline Hanson’s one nation party senators intended to move an amendment that exclusively excluded deposits from the law.

The bail in law basically means in time of economic crisis or in times of a future GFC, if the banks start losing money, the bail in law states banks have the power to take the deposits of anything over $250,000 from everyday customers.

This controversial law puts every Australian deposit holder with more than $250,000 in the bank at risk in times of economic chaos. It gives the banks unprecedented power and naturally this power is for the sake of keeping the nation afloat and what is in the best interest of Australia, as a country and not the individual.

The question that we ask most people, with large sums of money in the bank, is – Is your money better in the bank or better in property?

We believe property is the most secure way to have your money invested, with a rising population and already a very strong rental market throughout Australia. Most properties not only grow in value over a period of 2-7 years but also for the owner as a great rental return - much more than the bank would give you in this market.

The bail in law gives the banks unprecedented power, were you aware of these laws?