Treasurer Jim Chalmers has ramped up his sell of Labor’s revamped tax cuts, releasing fresh analysis showing families are expected to pocket an average tax cut worth more than $3000 next financial year. The intervention comes as Opposition Leader Peter Dutton sharpened his attacks against Labor on Saturday, accusing theContinue Reading
A stark summary of what life is like for young adults in Australia these days amid the soaring cost-of-living, housing crises and economic inequality has gone viral. A sharp and to-the-point assessment of the “extremely difficult” situation facing Millennials, delivered by Russel Howcroft, an advertising guru and panellist on theContinue Reading
More than 2.6m Aussie workers will receive at least an additional $33.10 a week from July 1, the workplace umpire has ruled. The order, handed down by the Fair Work Commission on Monday, will increase award and minimum wages by 3.75 per cent, with the national minimum wage set toContinue Reading
Australia should prepare itself to mourn the death of the middle class as the once-famed land of opportunity and birthplace of a fair go transforms into a state where the only way to get ahead is to have rich parents. That’s the warning from economists, investment experts and social servicesContinue Reading
Borrowers hoping for reprieve from high interest rates may have to wait longer still with impending inflation data set to give the Reserve Bank clues on whether rate cuts can be contemplated. In recent days, money markets have pushed out the timing of an expected easing in interest rates withContinue Reading
New research has revealed exactly how much money Australians need to make before they feel rich – and it’s no small sum. Financial comparison website finder.com.au conducted a survey that determined people would need a salary of $345,819 before they felt affluent. Unfortunately, that’s considerably more than the average personalContinue Reading
Treasurer Jim Chalmers is facing criticism for remarks made in an interview about the cost-of-living crisis and painful pressures facing millions of Australians. Speaking with veteran political commentator Michelle Grattan for her podcast on The Conversation, Dr Chalmers implied those struggling will have to wait until next year for relief.Continue Reading
The federal budget deficit forecast for this financial year has been slashed to just $1.1bn, all but guaranteeing Jim Chalmers will deliver back-to-back surpluses. In a move designed to ease inflationary pressures, the Mid-Year Economic and Fiscal Outlook (MYEFO), released on Wednesday, shows revenue windfalls of $65bn since May willContinue Reading
The federal budget deficit forecast for this financial year has been slashed to just $1.1bn, all but guaranteeing Jim Chalmers will deliver back-to-back surpluses. In a move designed to ease inflationary pressures, the Mid-Year Economic and Fiscal outlook (MYEFO), released on Wednesday, shows revenue windfalls will be banked rather thanContinue Reading
With the release of the federal Treasury’s 2023 Intergenerational Report (IGR), a flurry of headlines emerged based on the various economic and social forecasts covering the next 40 years. It predicted Australia’s population to pass 40 million by 2063, Aussies to have fewer children and the population of over 65sContinue Reading