economy
‘Reform is always hard’: PM coy on tax carve outs
10 June
Startups may be able to claim greater tax concessions than initially announced in the federal budget as the government grapples with blowback to its economic reforms. Treasurer Jim Chalmers is in talks with businesses about allowing startups to keep...[Read More]
Officials bank on economic slump helping tame inflation
10 June
Australia’s economy is going into a slowdown, which will eventually bring inflation under control. That is the view of the Reserve Bank after officials appeared before a senate estimates hearing on Thursday, where they said a decline in momentum...[Read More]
Tax changes push biotech and health sectors offside
10 June
Some of Australia’s leading health and life sciences organisations are urging Treasurer Jim Chalmers to review the changes to research and development taxes proposed in his budget. Sector advocates say while they’re concerned over a number of Dr...[Read More]
Fuel stocks look secure into August as price hike eases
10 June
Australia has enough fuel reserves to last almost three months, as petrol prices at the bowser drop to near pre-Middle East war levels. The stock includes 43 days’ worth of petrol, 36 days’ worth of diesel, and 30 days’ worth of jet fuel, with...[Read More]
Aussie retailers under pressure from e-commerce giants
10 June
Australians are paying more for online deliveries, and while faster and more convenient, the rise of global e-commerce giants could spell trouble for local retailers. With labour, fuel and maintenance costs continuing to rise, consumers are forking...[Read More]
Confidence readings punctuate lull in economic calendar
10 June
Central bankers in Australia will scrutinise consumer and business confidence figures amid a dearth of hard economic data this week. Sentiment has plummeted amongst households and employers since the outbreak of the Middle East conflict in late...[Read More]
Interest rate impact hits housing approval levels
3 June
Rising interest rates have been blamed for a downturn in housing approvals, but tax changes in the federal budget could lead to an uptick. Figures from the Australian Bureau of Statistics showed the total number of dwellings approved in April fell...[Read More]
Minimum wage tops $1000 a week, stoking inflation fears
3 June
Workers on the minimum wage will receive more than $1000 a week for the first time, but businesses and economists warn the pay bump could fuel inflation and more rate rises. Industrial umpire the Fair Work Commission handed a 4.75 per cent pay boost...[Read More]
AI risks deepening divide between investors and workers
3 June
The divide between people who earn income from investments and those who work for a living could be exacerbated by the artificial intelligence revolution, economists at Australia’s largest business lender warn. While the adoption of AI is expected...[Read More]
Data centre boom fails to boot up lagging economy
3 June
Australia’s economy slowed significantly despite surging data centre investment, but interest rate rises and the effects of the Iran war mean a downturn may be inevitable. Gross domestic product grew at 0.3 per cent in the first three months of...[Read More]