After reaching a record high, the Australian stock market experienced a significant drop, reflecting investor concerns and a shift in expectations regarding interest rates. Chair Powell’s comments, delivered at the January Federal Open Market Committee (FOMC) meeting, sent ripples through global markets. Despite speculation and market bets on rate cuts,…

The Australian Bureau of Statistics (ABS) released the data on Thursday, revealing a sharp drop in the participation rate from a record 67.3 per cent in November to 66.8 per cent in December. Despite the alarming decrease in employment, the unemployment rate for the month held firm at 3.9 per…

The intricacies of the Australian Taxation Office (ATO) and other government revenue authorities’ audit activities are ever evolving.  They demand constant vigilance from businesses, self-managed superannuation funds (SMSFs), individuals and their supporting accounting professionals. Employing a blend of cutting-edge strategies, including advanced data matching, artificial intelligence, industry benchmarking, and many…

CommBank’s chief economist, Stephen Halmarick, recently offered a comprehensive view of the economic trajectory for the upcoming year. Halmarick’s insights delve into critical facets such as interest rates, inflation rates, housing market trends, and the broader economic outlook for Australia. The impact of 2023’s interest rate hikes reverberated through the…

High levels of government spending are not aiding the battle against inflation, according to a major global ratings agency. S&P, the global ratings agency, suggests that the Australian government’s spending is impeding efforts to reduce elevated inflation levels. The report notes that the government is now spending $50 billion/year more…

The Australian share market saw a reversal of recent gains after a statement from the Reserve Bank of Australia (RBA). The statement said that inflation is likely to remain at 3.5 per cent for longer than expected, with previous forecasts expecting it to drop to 3.25 per cent by the…

The good news came after the US Federal Reserve held interest rate levels as they are, helping to ensure investors that they are beginning to get a grip on inflation. The news from America helped the S & P/ASX200 climb by 0.9 percent, reaching 6,899.7 points. All Ordinaries also saw…

By Roman Kaczynski Director, Accountancy Insurance What began as an accountant’s solution to assist an insurance broker in crafting a commendable, yet cumbersome product has evolved over two decades into a user-friendly solution.  Accountancy Insurance now stands as the foremost provider in its category, successfully operating in three countries and…

This follows on from news in August that the number of job vacancies stood at 390,000 from approximately 428,000 the previous month. This welcome update had marginally outperformed expectations as unemployment rates were expected to stay as they were. The States with the lowest unemployment levels were Western Australia (WA)…

Victoria has introduced several new land tax changes and hikes that some experts warn could cause an investor exodus. Financial and real estate experts are concerned that with the changes being introduced by Premier Jacinta Allan, investors may opt to invest their capital in more favourable jurisdictions. Amongst the key…