Workers will receive a boost to retirement contributions as a long-awaited lift to the superannuation guarantee kicks in, but further increases are unlikely any time soon. The rate of super employers are required to pay employees increased from 11.5 per cent of their wages to 12...
TOP CHANGES COMING INTO EFFECT ON OR AFTER JULY 1: PAYMENTS AND SUPER * About three million workers on the minimum and award wages will receive a 3.5 per cent pay rise following a decision by the Fair Work Commission * The superannuation guarantee will increase from 11.5...
Retail sales rebounded as cooler temperatures sent Australian consumers flocking back to the shops in search of winter apparel. Household spending has been subdued to start the year but retail turnover rose 0.2 per cent in May, the Australian Bureau of Statistics revealed on Wednesday. Although below...
Australian superannuation funds are breathing a sigh of relief after the US dropped a so-called “revenge tax” on foreign investors. The super industry had been ringing alarm bells over section 899 of President Donald Trump’s proposed “big beautiful bill”, which would have raised taxes by up...
Tax incentives and artificial intelligence lessons in schools could help ensure Australia doesn’t miss out on the benefits of the AI wave, according to the firm behind industry giant ChatGPT. For OpenAI chief economist Ronnie Chatterji, a visit to Australia to meet with business leaders, investors...
Trade unionists, business leaders and welfare advocates are among the confirmed guests for the federal government’s economic summit. August’s productivity roundtable will include ACTU secretary Sally McManus, Business Council of Australia chief executive Bran Black, Australian Council of Social Service head Cassandra Goldie along with productivity...