Australia’s economy is tipped to strengthen over the next few years despite the uncertain global backdrop, but may stagnate without serious tax reforms. While Australia’s economic growth hit speed bumps early in of 2025 from Cyclone Alfred, other weather events and a dip in government spending,...
Australians are being warned to exercise patience when lodging their tax returns and be wary of tax-time loans this end of financial year. Some 142,000 people had amendments or their returns investigated by the tax office in 2024 after jumping the gun before it was marked...
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...