The Reserve Bank does not want to send Australia into a recession but its options to avoid one might be running out. Governor Michele Bullock has old reporters a recession could be a possibility if inflation proves too hard to get down, after the central bank...
The Reserve Bank of Australia has hiked interest rates for the second straight month, warning of more pain the longer the war in the Middle East drags on. In a split five-four decision on Tuesday – the tightest since the central bank started publishing vote tallies...
Discounts on capital gains tax have been found to skew the housing market in favour of investors at the expense of owner-occupiers, as the federal government is urged to scrap the controversial measure. A parliamentary inquiry report into the capital gains discount, released on Tuesday, found...
CHANGES IN STATE AND TERRITORY GST PAYMENTS NSW * GST payment increased from $28.1 billion to $28.2 billion * Relative share of GST compared to per capita allocation fell from 86c in the dollar to 82c * Share of GST fell from 26.7 per cent to 25.5 per cent VICTORIA *...
The Australian economy has the runs on the board when confronted with technology challenges, giving one minister confidence that will be the case with artificial intelligence adoption. While there are real risks to jobs and labour force disruption from AI, some of which is already occurring,...
Offshore wind farms could deliver significant savings for Australian households, with some consumers seeing $151 cut from their annual electricity bills. The savings would come despite the significant up-front investment needed to build wind turbines off the coast, a study found, due to lower costs for...
A university degree might become less valuable for securing a job in the age of artificial intelligence, posits an influential member of the government’s economics team, as financial workers worry that AI might steal their jobs. Rather than formal schooling, judgment may became a greater predictor...
Almost two in five Australians are considering an electric or hybrid vehicle for their next car purchase, but many could change their minds if the government puts the brakes on a tax discount. The Australian Finance Industry Association revealed the findings on Tuesday in their annual...
Australia needs bold reforms including tax changes and financial incentives to stop relying on its lucky country credentials and become a nation with a strong innovation industry. A year-long independent review of Australia’s research and development sector, led by Tesla chair Robyn Denholm, issued the warning...
Next-generation batteries Australian researchers are developing could potentially recharge electric cars faster than petrol vehicles fill up and top up smartphone instantaneously. The CSIRO’s quantum battery research team made the predictions on Wednesday after publishing details of a breakthrough in the technology, creating the world’s first...