Workers will wait two more years for a lift in real wages after the Albanese government’s first budget warned inflation would outstrip pay growth until 2024/25. Treasury predictions in Tuesday’s 2022/23 budget see the tight labour market pushing wages growth to 3.75 per cent in 2022/23...
Retail electricity prices are expected by rise by 50 per cent over the next two years, dealing households and businesses another cost-of-living blow. Treasury has assumed in the federal budget that retail power prices will increase by an average of 20 per cent nationally in late...
Long-awaited aged care reforms are set to be delivered thanks to a multi-billion dollar boost. The federal budget shows $2.5 billion will be spent over the next four years to ensure all aged care facilities have a registered nurse onsite around the clock. The funding, a major...
Inflation has surged to 7.3 per cent annually in the September quarter as supply chain bottlenecks, high energy prices and expensive freight continues to drive up the cost of living. Inflation over the quarter hit 1.8 per cent, according to data from the national statistics bureau. Underlying...
Federal budget tax cuts for electric cars and moves to create a national electric vehicle charging network in Australia have been welcomed by motoring and environmental groups overnight. The policies could shave $4700 off the cost of buying an electric car for an individual and $9000...
The local share market has managed to eke out some small gains despite inflation coming in hotter than expected, raising the possibility of a pivot back to more aggressive rate hikes. The benchmark S&P/ASX200 index finished Wednesday up 12.3 points to 6810.9, a gain of 0.18...
How to Teach Your Kids About Investment As a parent, you want what’s best for your children. This is why you teach them about cleanliness, health, nutrition, good behaviour, the value of education and so on. But how come very few parents take the time to...
Tried-and-Tested Tax Planning Strategies for Small Businesses Every dollar counts in business, especially for small enterprises. Therefore, you need to find ways to minimise your tax liability in addition to optimising income or profit. With a small business tax planning strategy, you can increase profits while also...
Treasurer Jim Chalmers has downplayed expectations of cost of living relief in next week’s federal budget, warning some measures could push inflation even higher. Dr Chalmers noted the cost of living could surge due to devastating floods in NSW, Victoria and Tasmania pushing up the price...
Employees should have the right to “disconnect” from work and not be contacted by bosses after knock-off time, a parliamentary committee recommends. The Senate committee on work and care released its interim report on Tuesday, which included eight “urgent” recommendations for improving the balance between those...