Just three months ago, Treasurer Jim Chalmers oozed optimism, citing a favorable economic trifecta: rising real wages, moderating inflation, and falling unemployment. However, recent economic developments have cast a shadow over this rosy outlook. In May, inflation unexpectedly spiked to 4 per cent, up from 3.4 per cent, marking a…

The story of Cathryn Stavert and her son highlights a troubling trend where criminals hijack myGov accounts to lodge fraudulent tax returns and divert refunds into their own pockets. Stavert and her Son did not see a penny. Stavert’s ordeal began with a startling discovery: someone had already filed a…

The move signals a delay in much-needed relief for struggling mortgage holders. It comes as the number of individuals falling behind on their mortgage repayments begins to stabilise. Despite hopes for a potential rate reduction, ANZ’s Head of Australian Economics, Adam Boyton, indicated a bleak outlook, forecasting that the Reserve…

This decision, marking the sixth consecutive month of rate stability, was accompanied by cautious remarks from RBA Governor Michele Bullock, who highlighted the persistent risk of inflation. Despite speculation about a potential rate hike, the RBA’s stance reflects a delicate balancing act between economic growth and inflation containment. Bullock’s acknowledgment…

The ASX200 surged by 73.5 points, nearly 1 per cent, culminating at 7,701.7, while the broader All Ordinaries index also witnessed a robust upswing, ascending by 74.9 points, or 0.95 per cent, to settle at 7,970.8. This rally was not limited to specific sectors but was broad-based, encompassing various industries.…

These businesses will need to include a separate sustainability report within their annual report, which will be formally adopted by the company’s board. This move follows the 2021 UN Climate Change Conference (COP26) in Glasgow, which emphasised mandatory climate-related financial disclosures as essential for tackling climate change. Such disclosures aim…

Assistant Governor Sarah Hunter highlighted the slow pace of improvements in housing supply, despite some positive indicators. During a conference in Hobart, Hunter acknowledged that developers are beginning to recognize the robust underlying demand and may respond by increasing the housing supply. However, she emphasized that this is in its…

With loan repayments soaring, many are resorting to selling off personal belongings, downsizing homes, or even selling their properties to cope with the burden. A study conducted by Canstar revealed that nearly half of Australian mortgage holders have contemplated selling off various assets, including their homes, personal items, investments, cars,…

The exchange nudged up marginally by 0.23 per cent and the rise was down to a blend of factors. Such factors include reassurance from the US Federal Reserve, and a mixed bag of corporate performances, notably the half-year results from the National Australian Bank (NAB). NAB’s figures painted a nuanced…

This surge in income tax, fuelled largely by bracket creep, has led to record tax collections for the Commonwealth. The impact of this tax burden has left many Australians feeling the pinch of a cost-of-living crisis. Shadow Finance Minister Jane Hume has expressed concerns about the escalating financial strain on…