economy
Big bank’s tax vision bucks business lobby, coalition
16 July
Superannuation concession limits and a wealth tax could unlock national economic productivity, Australia’s largest bank says, but others call them a “war on aspiration”. Many have been some surprised and some incensed by the Commonwealth...[Read More]
All signs point to jobs market holding firm in new data
16 July
The unusual resilience of Australia’s jobs market is expected to continue in fresh data due out this week. Despite expectations unemployment will rise over the course of 2025, forward indicators point to more jobs growth ahead of the Australian...[Read More]
Home truths on housing target in leaked Treasury advice
16 July
The accidental release of government department advice which warned Labor was not going to meet its housing target and urged them to raise taxes, has not rattled the treasurer. Independent advice from the Treasury department, which was...[Read More]
Surprise rate hold another blow for consumer confidence
16 July
Fresh data shows soft consumer spending is taking longer than expected to recover and won’t be helped by the Reserve Bank’s surprise decision not to cut interest rates. Household spending grew 0.3 per cent in June, according to the Commonwealth...[Read More]
Rates hold call cuts deep but bank governor offers hope
9 July
Borrowers have missed out on another interest rate cut – for now – as the Reserve Bank of Australia waits for more proof inflation has been beaten. But further repayment relief should be on the horizon, with Governor Michele Bullock confirming...[Read More]
Slow rate of cuts puts squeeze on business, households
9 July
A wait of at least five weeks until further interest rate relief is expected to keep the pressure on retailers and other consumer-facing businesses keen for spending to pick up. In a move that caught markets and most economists by surprise, the...[Read More]
‘Not all bad news’: the Aussie upside of Trump tariffs
9 July
Consumers could benefit from lower interest rates and cheaper goods after Donald Trump announced increased tariffs on two of Australia’s biggest trading partners. The US president has brought in 25 per cent tariffs on goods from Japan and Korea,...[Read More]
‘We’re here’: Australia joins the race for US academics
9 July
Australia hopes to bring America’s brightest minds Down Under as Donald Trump’s research cuts spark a US brain drain. The US president has taken a chainsaw to science funding, slashing thousands of government grants and transforming the global...[Read More]
Retail sales rebound as interest rate call looms
2 July
Retail sales rebounded as cooler temperatures sent Australian consumers flocking back to the shops in search of winter apparel. Household spending has been subdued to start the year but retail turnover rose 0.2 per cent in May, the Australian Bureau...[Read More]
Better times ahead for economy, despite global woes
2 July
Australia’s economy is tipped to strengthen over the next few years despite the uncertain global backdrop, but may stagnate without serious tax reforms. While Australia’s economic growth hit speed bumps early in of 2025 from Cyclone Alfred,...[Read More]
Higher wages and bills among changes to take effect
2 July
TOP CHANGES COMING INTO EFFECT ON OR AFTER JULY 1: PAYMENTS AND SUPER * About three million workers on the minimum and award wages will receive a 3.5 per cent pay rise following a decision by the Fair Work Commission * The superannuation guarantee...[Read More]
Pay penalties to be saved as workers score wage win
2 July
Workers on the minimum wage will get more money in a matter of days, as the employment minister pledges to enshrine workplace conditions. From the start of the financial year on Tuesday, workers on the minimum wage will get a 3.5 per cent pay lift,...[Read More]
Super funds spared billions after US axes ‘revenge tax’
2 July
Australian superannuation funds are breathing a sigh of relief after the US dropped a so-called “revenge tax” on foreign investors. The super industry had been ringing alarm bells over section 899 of President Donald Trump’s proposed “big...[Read More]
Surprise data shows inflation falling to four-year low
25 June
Inflation has fallen to a seven-month low, bolstering hopes of an imminent cut to interest rates. Data from the Australian Bureau of Statistics on Wednesday showed headline inflation fell from 2.4 per cent to 2.1 per cent in May. The monthly figures...[Read More]
Shop-around advice as cheapest supermarket revealed
25 June
Visiting more than one supermarket has proven to be the smartest approach for shoppers, as data shows prices for everyday essentials continue to vary widely. Data from consumer advocacy group Choice found that, even without specials, prices differed...[Read More]