More than three million Aussies with a higher education loan will be paying more when the second-highest indexation increase on record is applied from June 1. Unpaid HECS-HELP loans will jump by 4.7 per cent on Saturday, which is annually indexed to the consumer price index (CPI). It’ll mean moreContinue Reading
Graduates in Anthony Albanese’s inner-western Sydney electorate have some of the highest student debts in the country, but a Greens-held seat has topped the charts, new analysis has revealed ahead of annual indexation taking effect this weekend. Data from the Parliamentary Library, commissioned by the Greens, shows the average studentContinue Reading
Eighty per cent of Australia’s workforce will have tertiary qualifications by 2050 under an ambitious target announced by Labor in Tuesday night’s budget, in a bid to meet the shortages of a changing economy. Treasurer Jim Chalmers used his budget to announce the government would spend $1.1bn over five yearsContinue Reading
A tax credit is on the way for Aussies who scrimped and saved to pay off their student loan debt to avoid being hit by an eye-watering increase to indexation. The government is set to wipe about $3bn through a major change to the HECS and HELP loans in aContinue Reading
Labor has declared inflation the “primary focus” of this month’s federal budget, as the government walks the tightrope of lowering cost of living pressures while putting downward pressure on the bottom line. Amid growing calls for spending cuts to take the heat off interest rates, and ahead of this week’sContinue Reading
Consumers are culling subscriptions at a sizeable rate to deflect hip pocket pain. National Australia Bank data shows 37 per cent of Australians have cut back on a streaming service in the past three months, while 33 per cent have reduced spending on subscriptions such as magazines, apps and otherContinue Reading
In dire news for Australians struggling with the cost of living crisis, some economists have warned interest rates won’t begin falling until 2025. Bond markets, which forecast future interest rates, are suggesting that interest rate cuts may no longer be on the cards for 2024, and it’s a view sharedContinue Reading
The average full-time worker is about $3700 better off than they were a year ago, according to new data analysis being spruiked by Treasurer Jim Chalmers. Treasury analysis of Australian Bureau of Statistics data shows earnings for the average full-time worker increased 3.9 per cent in the first year ofContinue Reading
Despite remaining largely flat over the course of trading, the Australian share market edged into the green for the fourth day in a row on Thursday. The S&P/ASX200 closed 7.6 point higher, up 0.1 per cent, to 7305.3 points at the closing bell. The All Ordinaries had a stronger performance,Continue Reading
Employers are overwhelmingly planning to increase salaries amid the cost of living crisis, however, it may not be enough to match inflation. A whopping 95 per cent of employers intend increasing the salaries of their staff in the next 12 months, according to the latest Hays Salary Guide. That’s anContinue Reading