Rising profits levels among the Australian corporate sector have been identified as one of the key causes for increasing inflation levels across the country, a new report has shown. Research from The Australia Institute has revealed increasing profit levels among companies, and not increased wages for...
Australia’s economy will slow down over the next 12 months, but not catastrophically so, a global consulting firm has predicted. Deloitte Access Economics’s quarterly Business Outlook forecasts economic growth of 3.0 per cent in 2022/23 and 2.5 per cent the following year. Author Stephen Smith calls it...
Treasurer Jim Chalmers is seeking to use a review of the RBA to ensure Australians can have confidence in the central bank, underpinned by policies that are fit-for-purpose. Dr Chalmers on Wednesday announced a review of the Reserve Bank’s monetary policy and make-up of its board...
You should be aware of your tax and super obligations before you leave Australia. If you have already left, you can use ATO online services to do most tasks. When you leave Australia, you need to work out if you remain an Australian resident overseas....
More than half a million Australians in at least 400 remote or regional communities lack access to quality drinking water. An estimated 408 rural locations with a combined population of 627,736 people failed to measure up to health-based guidelines in 2018-2019, according to researchers at the...
The central bank governor has reassured Australian households and businesses inflation will come down, but further rises in interest rates will be needed in the short term. Financial markets are already pointing to an average inflation rate over the next ten years of “two point something”,...
Taxpayers will find the upcoming government budget update confronting, Treasurer Jim Chalmers says. Dr Chalmers said his government had inherited the “trickiest set of economic conditions” in memory. He is set to provide the latest debt forecast on July 28 during the first parliamentary sitting week of...
The ANZ is tipping the cash rate will hit 3.35 per cent this year, with the Reserve Bank conceding first-home buyers are most vulnerable to defaulting, with many facing 40 per cent higher repayments by the end of 2023. In an address to the Economic Society...
BHP says it will review the planned lifespan of its seven central Queensland mines after the Palaszczuk government unexpectedly hiked coal royalties. At current spot prices, the taxes, which were levied last month, effectively increase the royalty rate seven percentage points, to 19 per cent. “The near...
A gas supply guarantee has been triggered by the national energy market as Victoria faces a winter gas shortage. Victorian Energy Minister Lily D’ambrosio said the gas supply guarantee was triggered by the Australian Energy Market Operator on Tuesday afternoon, as reserves at a storage facility...