Are my rates taxable?

As an investor you have a responsibility to declare your earnings as taxable income. OurMoneyMarket requests your Tax File Number (“TFN”) on the application form. If you don’t provide a TFN, we must deduct withholding tax at the maximum rate applicable currently 49%. If you are a US resident for tax purposes, you must advise […]

How are rates of return displayed?

Prior to an investor logging into their OurMoneyMarket account, rates are displayed on the website on an annualised basis after any applicable fees. The rates may assume payments received are continually reinvested at the rate of return advertised at the time of initial investment and assume no borrower late payments or defaults.

How do borrowers repay their loans?

All borrowers obtaining loans through OurMoneyMarket must agree to a direct debit arrangement against their bank account that their primary income source is paid into. All loan repayments are based off a fixed rate of interest and include a principal and interest component. The repayment schedule from which you will receive loan repayments is based […]

How do I transfer funds to my account?

To transfer money into your OurMoneyMarket Account, first, login to your personal dashboard and click “Transfer Funds” from the menu. Then click on the “Transfer Funds In” option. You will be provided with BPAY details that are specific to your OurMoneyMarket Account. You can then simply login to your internet banking account and transfer funds […]

What is my OurMoneyMarket account?

Each member of the OurMoneyMarket Investment Trust has their own personal OurMoneyMarket Account. Use the account details relating to your OurMoneyMarket Account to deposit money into your account to start investing.

Will I know who the borrowers are?

No. Investors will not know the personal identity of the borrowers whose loans they have invested in. Investors will however be provided with demographic and geographic information about the borrowers, as well as a summary of their financial information and historical credit performance.

What happens in the event of a borrower default?

Currently if you hold Loan Units that relate to a loan in which a borrower has defaulted on, it is likely you will lose your outstanding investment in that loan. Should OurMoneyMarket conduct legal proceedings against the borrower 100% of the legal and associated third party collection costs can be recovered before any remaining proceeds […]

How do OurMoneyMarket manage risk?

As common with most investments there are risks, in relation to the OurMoneyMarket Investment Trust there is the risk that a borrower is late in making their repayments or the borrow defaults on their loan. Please refer to the “Risks of Investing” Section of the Product Disclosure Statement for more details. OurMoneyMarket looks to mitigate […]