Australians live longer, are happier in their jobs and trust each other more than they did two decades ago. But more people are battling chronic disease, struggling to make ends meet and having bad experiences online. There’s also less trust in government and more concern for the nation’s safety than there was 20 years ago….
Changes Kicking in for New Financial Year in Australia
Households are facing a surge of up to 25 percent in their power bills, as the new financial year brings a raft of new changes. The Australian Energy Regulator will increase the cost of electricity between 20 and 25 percent, heaping more pressure on people managing soaring cost of living pressures, including persistent inflation and…
Business SA Backs Tax Cut for Regional Companies
Payroll tax discounts for regional businesses should be included in the upcoming South Australian budget, the state’s peak business group says. In a submission ahead of South Australia’s (SA’s) latest financial blueprint, the organisation said regional companies should get a 50 percent discount to ease costs and help them compete. Business SA’s General Manager of…
Business South Australia Backs Tax Cut for Regional Companies
Payroll tax discounts for regional businesses should be included in the upcoming South Australian budget, the state’s peak business group says. In a submission ahead of South Australia’s (SA’s) latest financial blueprint, the organisation said regional companies should get a 50 percent discount to ease costs and help them compete. Business SA’s General Manager of…
Australian Workers to Get Real Wage Lift Ahead of Schedule
Australian workers can expect to see their pay packets growing faster than consumer prices by early next year. An improvement in real wages, which accounts for the corroding effect of inflation on pay increases, was previously earmarked for midway through 2024. Thanks to surging inflation, workers have been hit with staggering declines in real wages….
Aussies to Spoil Mums as Spending Set to Reach $1 Billion on Mother’s Day
Australians are set to spend nearly a billion on Mother’s Day gifts this year, with alcohol, food and flowers continuing to be the most popular choices. A survey of 1,682 adults conducted by the Australian Retailers Association (ARA) and Roy Morgan predicts Australians will spend A$925 million (US$611 million)—up A$166 million (US$106 million), or 22…
Business Conditions Still Strong, but Confidence Waning
Businesses remain relatively resilient to economic challenges, but conditions are expected to deteriorate as the full force of higher interest rates is felt. A monthly survey by NAB showed business conditions slipping one point to 17 index points, which is still a “very strong” result compared with historical averages. But confidence in the Australian business…
Australia-India Trade Bonanza Could Soon Be Sealed
Australia could sign a “transformational” Indian trade deal by the end of 2023 after Anthony Albanese wrapped up his visit to the subcontinent by unveiling a string of agreements. At a joint address with Indian counterpart Narendra Modi, the prime minister revealed the two countries had finalised deals to boost economic and cultural ties. Significantly,…
RBA Outlines Gloomier Outlook for Economy
The central bank expects the jobless rate to tick higher than previously thought as inflation remains stubbornly high and dampens economic growth. The Reserve Bank of Australia now expects the unemployment rate to hit 4.25 per cent by the end of 2024, up from the four per cent forecast in August. In the November statement…
Labor Government Raises Migration Cap to Tackles Skills Shortages
September 2, 2022
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anthony albaneseAustraliaAustralia economyBusiness & MarketseconomyInternationaljobs and skills summitmigrationPeter DuttonWorld
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The Labor government will lift the migration cap to a record 195,000, extend the relaxation of restrictions for students and increase post-study works rights to ease widespread critical skills shortages. These changes are among the 36 outcomes from the Jobs and Skills ending on Friday at Parliament. The summit brings together industry leaders, employers, unions…
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