NEWS UPDATE
NEWS UPDATE
A slight easing in Australia’s headline inflation rate before the Iran war will do little to ease the Reserve Bank’s fears, as economists expect price growth to bounce back with a vengeance in March. Consumer prices rose 3.7 per cent in the 12 months to...
Mortgage holders could face as many as three interest rate hikes by Christmas, according to money markets, as concerns mount over the Iran war’s impact on inflation. Rates traders upped their predictions on Friday, pricing in almost 75 more basis points of hikes by the...
Australia’s superannuation industry is being nudged to do a better job supporting and educating members once they decide to retire, rather than simply counting dollars while they work. Super funds do a good job helping Australians build a nest egg, investing their money in sophisticated...
Noisy jobs data has revealed a tight labour market, giving the Reserve Bank the green light to further hike interest rates despite a spike in unemployment. The jobless rate jumped to 4.3 per cent in February, despite almost 50,000 more people finding a job, the...
Rising costs and cash flow pressures could force thousands of small business owners to dip into personal savings to comply with new superannuation rules. Changes slated for July 1 require employers to pay employees superannuation at the same time as their salary. But there are...
Treasurer Jim Chalmers is willing to anger older Australians to make the tax system fairer for younger generations. But he admitted productivity growth would take longer to recover than previously thought during a major pre-budget address to a gathering of business economists in Melbourne. Dr...
Australia’s fossil fuel and property industries are gearing up for a fight over tax as the government mulls changes ahead of its May budget. Treasury is reportedly drawing up changes to make the tax system fairer for younger Australians, including by reducing the capital gains...
Australian businesses are failing at record rates and soaring energy prices are set to make matters worse, putting the national economy at risk of recession. Business insolvencies and payment defaults were already at or near their highest-ever levels from mid-2025, before the Persian Gulf conflict...
More than 200,000 lives and billions of dollars in health costs could be saved if political leaders developed an appetite to tax unhealthy foods, according to fresh research. The federal government is being called upon to consider a 20 per cent tax on unhealthy items,...
Key points Introduction The RBA’s decision to hike rates to 4.1% means that it has now reversed all but one of the three rate cuts we saw last year, which of course followed 13 rate hikes seen in 2022 and 2023. Once passed on to...
The Reserve Bank does not want to send Australia into a recession but its options to avoid one might be running out. Governor Michele Bullock has old reporters a recession could be a possibility if inflation proves too hard to get down, after the central...
The Reserve Bank of Australia has hiked interest rates for the second straight month, warning of more pain the longer the war in the Middle East drags on. In a split five-four decision on Tuesday – the tightest since the central bank started publishing vote...
Discounts on capital gains tax have been found to skew the housing market in favour of investors at the expense of owner-occupiers, as the federal government is urged to scrap the controversial measure. A parliamentary inquiry report into the capital gains discount, released on Tuesday,...
Two thirds of young people rely on social media for their financial investment decisions, with one in five turning to artificial intelligence. A survey of Gen Z (18 to 28-year-olds) respondents by financial regulator ASIC has found 56 per cent somewhat or completely trust financial...
CHANGES IN STATE AND TERRITORY GST PAYMENTS NSW * GST payment increased from $28.1 billion to $28.2 billion * Relative share of GST compared to per capita allocation fell from 86c in the dollar to 82c * Share of GST fell from 26.7 per cent...
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