Ballooning inflation, rising interest rates and a loss of confidence around the economic outlook, in Australia and abroad, has sent consumer sentiment reeling. The Westpac-Melbourne Institute survey for June showed the consumer sentiment index fell 4.5 per cent to 86.4, and follows last week’s decision by...
Lower tax on your investments can help you reach your financial goals sooner. But don’t choose an investment based on tax benefits alone. How investment income is taxed You need to include investment income in your tax return. This includes what you earn in: interest dividends rent managed funds distributions capital gains...
The national electricity market has been suspended as the market operator says it has become impossible to operate within the rules. The Australian Energy Market Operator said in a note issued on Wednesday it had suspended the electricity spot market in NSW, Queensland, South Australia, Tasmania...
Business confidence is holding up in the face of rising interest rates and inflation, but there are signs households may start winding back on spending. New figures from the Australian Bureau of Statistics showed household spending was running at a healthy 7.6 per cent annually in...
Higher prices and rising interest rates are likely to dampen household spending, although new figures suggest consumers are preparing for one last hurrah. The CommBank household spending intentions index made a partial recovery in May, rising by 2.9 per cent after falling in April due to...
A black hole the size of three billion suns has been discovered by an international team of astronomers at the Australian National University. It is the fastest growing black hole of the last nine billion years, according to lead researcher Christopher Onken. Others of a comparable size...
The local bourse has seen no let-up, closing lower for the sixth time in the past seven sessions as traders digest the possibility of a supersized US rate hike overnight. Selling accelerated in the afternoon, with the benchmark S&P/ASX200 index finishing Wednesday down 85 points to...
The Reserve Bank of Australia has raised the cash rate by the biggest margin in one go since February 2000 as it tries to rein in ballooning inflation. The RBA raised the cash rate by 50 basis points to 0.85 per at its board meeting on...
Treasurer Jim Chalmers concedes a big spike in interest rates will come as difficult news for households already facing skyrocketing costs of living and wages not keeping pace with inflation. The Reserve Bank of Australia raised the cash rate by 50 basis points to 0.85 per...
Treasurer Jim Chalmers says a recession in Australia is not on his list of worries, even as a major business group expressed fears the economy could be entering a “death spiral”. Such views came after the Reserve Bank of Australia raised the cash rate by 50...