economy
‘Not right’: Australia urged to wind back tax breaks
6 August
Australian workers could be locked out of home ownership unless property concessions are reined in, but any reform would require careful manoeuvring from the government. As the federal government seeks ways to reinvigorate the nation’s languishing...[Read More]
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]
Budget focuses on power bills, tax cuts and healthcare
26 March
FEDERAL BUDGET AT A GLANCE * Budget deficit of $27.6 billion this financial year * Commonwealth gross debt to rise to $940 billion (33.7 per cent of GDP) in 2024/25 before cracking $1 trillion the year after * Net debt to rise to $556 billion in...[Read More]
‘Unfair, unrealistic’: young Aussies bear budget burden
26 March
Australian workers will be increasingly relied upon to prop up ballooning federal government spending, despite tax cuts handing back two years of bracket creep. The “modest” cuts announced by Treasurer Jim Chalmers in the federal budget will...[Read More]
Australian economy to get pulse check, RBA minutes drop
5 March
Australia’s economic growth is expected to recover from its multi-decade lows when gross domestic product figures are revealed in the nation’s quarterly health check. The national accounts for December, due from the Australian Bureau of...[Read More]
Green shoots for economy as Australia snaps dire record
5 March
Australia’s economy has “turned a corner”, ending a record 21 months of falling living standards in an encouraging sign that there are better times ahead. Gross domestic product expanded by 0.6 per cent in the December quarter, the fastest...[Read More]
Underlying inflation up but good news on housing, rents
26 February
Australia has hit a bump on the road to disinflation but there are promising signs housing affordability challenges are easing. The Reserve Bank of Australia’s preferred measure of underlying inflation – the trimmed mean – rose 10 basis points...[Read More]
Slowdown in wages growth boosts rate cut case
19 February
Wages growth continues to decelerate, falling to 3.2 per cent in 2024 and adding to the case for more interest rate cuts. While bad news for workers, the Reserve Bank of Australia will be encouraged that the tight labour market does not appear to be...[Read More]
Rates cut at last but ‘no victory on inflation yet’
19 February
The Reserve Bank of Australia has cut interest rates for the first time in more than four years but mortgage holders might have to wait a while before more relief comes down the pike. Mortgage lenders including all four big banks immediately...[Read More]
New homes and land banking off-limits to foreign buyers
19 February
Foreign investors will be banned from buying existing properties for at least two years in a move the government says will make it easier for Australians to buy a home. But the restriction, which replicates a policy announced by the coalition, will...[Read More]
Dutton weighs in on RBA amid banana price rise warning
12 February
Inflation pressures could resurface if the Reserve Bank cuts rates prematurely, Opposition Leader Peter Dutton has warned amid fears the north Queensland floods could push up grocery prices. The devastating floods, which have led to two deaths, have...[Read More]
Concern Australian jobs at risk over Trump’s tariffs
12 February
Industrial communities are holding their breath to see whether Australia can negotiate an exemption to US President Donald Trump’s steel and aluminium tariffs. While Mr Trump signed off on 25 per cent tariffs without exception, confirmation he’s...[Read More]
States warned to tighten spending or pay more to borrow
12 February
Australian states have copped a blast for being too loose with spending, in a warning signalling taxpayers might soon be forking out more to cover the costs of burgeoning debt. S&P Global, one of the big three credit ratings agencies, warned states...[Read More]
Business conference revival an Aussie economic boon
12 February
From space science conventions to paediatric gastroenterology conferences, Australia has bagged $1 billion worth of international events. The lucrative business events sector took a hit during the COVID-19 pandemic and has struggled to get back on...[Read More]
Musk-like efficiency role ‘strange’ call for Australia
5 February
Australia has a red tape problem and even the boss of the corporate watchdog acknowledges it. But introducing an Elon Musk-style Minister for Deregulation is a “strange” way to go about it, Jim Chalmers says. The treasurer was responding to a...[Read More]