5 million+ struggle with mortgage payments
Liz Gibbs • June 6, 2024

New nationwide research released by ASIC’s Moneysmart reveals that 47% of Australian adults with debt, the equivalent of 5.8 million people, have struggled to make repayments in the last 12 months.


Alarmingly, the research revealed that more than half surveyed, said they are not aware that they are entitled to ask their bank or lender for financial hardship assistance and just one in five said they had ever sought financial hardship assistance. Around 30% also stated that they would not seek a hardship assistance arrangement from their bank or lender and instead sell assets or get a second job rather than talking to their bank.


Need Help with your Business, Bookkeeping, Tax or SMSF requirements?

If you would like a little help, please get in touch with us for assistance. We can help with your business, bookkeeping, tax and SMSF requirements.


Please also note that many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances. Should you have any further questions, please get in touch with us for assistance with your SMSF, business, bookkeeping and tax requirements. All rights reserved. Brought to you by RGA Business and Tax Accountants. Liability Limited by a scheme approved under Professional Standards Legislation.


New ATO Rules for Holiday Rental Homes
By Liz Gibbs September 11, 2026
From 1 July 2026, the ATO expects holiday rentals to be primarily used to generate income before expenses are deductible. Learn what's changing and how to protect your claims.
Working Harder Than Ever, But Still Not Getting Ahead? You're Not Alone.
By Liz Gibbs September 11, 2026
Feeling stretched and stuck despite the hours you put in? Here's why cashflow stress, long hours, and no systems keep showing up together.
Have You Checked for Your Lost Super?
By Liz Gibbs September 10, 2026
Over $21 billion in super is lost or unclaimed in Australia. Learn why it happens and how to check if you're owed money — RGA can help you track it down.
More Posts