The Reserve Bank is worried Australia’s economy could be weakened by a housing market slowdown accelerated by the federal budget, a readout of its last interest rates meeting shows. The central bank’s monetary policy board voted unanimously to hold the cash rate steady at 4.35 per...
WHAT IS CHANGING ON JULY 1? * About 2.7 million workers on award wages will get a 4.75 per cent pay bump, while workers on the minimum wage will get a six per cent pay rise, following a Fair Work Commission decision * Workers will also receive...
Home prices have recorded the biggest monthly fall in almost four years as tax changes accelerate Australia’s housing downturn. Sydney’s median home price fell 1.2 per cent to $1,265,608 in June, leading a nationwide decline of 0.4 per cent, data from property firm Cotality shows. It was...
Stronger-than-expected jobs and spending data has bolstered the case for more rate hikes, but events overseas could stay the Reserve Bank’s hand. An extra 40,300 jobs were added to the economy in May, driving down the unemployment rate to 4.4 per cent, the Australian Bureau of...
More Australians are upgrading the tech in their homes to not just to keep the lights on but make sure they stay connected during natural disasters. From solar panels and batteries to electric cars and better broadband, experts say at-risk households can take action to avoid...
The treasurer has hit back at attacks to budget tax changes from a former Reserve Bank governor after the contentious laws passed parliament. Ex-RBA governor Philip Lowe said changes limiting negative gearing and the capital gains tax discount would not boost housing supply levels as flagged...
Treasurer Jim Chalmers has promised to fix laws imposing a so-called “widow’s tax” on investment properties, without providing details on how he will close the loophole. The issue, which relates to investors with jointly owned properties potentially losing out on concessions if one owner dies or...
Tech companies have been dragging their feet on enforcing Australia’s child social media ban because they want the age limit to fail, federal leaders say. Existing provisions barring children under 16 from platforms like Instagram, TikTok, Snapchat and Reddit will be strengthened through planned changes to...
Financial security is often associated with being wealthy, owning valuable assets or having a large retirement balance. While money and assets can provide important protection, genuine financial security is also a state of mind. It is the feeling that you have control over your financial...
June 30 marks more than the end of another financial year. It is an opportunity to review the past 12 months and put better financial habits in place for the year ahead. Tax planning should not be limited to the weeks before a tax return is...