Finance
Renewables, AI rules top productivity reform wishlist
21 May
Regulating the reckless use of artificial intelligence, speeding up approvals for renewable energy projects, and changing privacy and corporate tax laws will be targeted in a push to boost the Australian economy. The Productivity Commission named 15...[Read More]
How to claim income tax deductions for work-related expenses and other expenses, and record your deductions.
21 May
Instant tax deduction On 13 April, the government announced a $1,000 instant tax deduction, so that taxpayers won’t need receipts to claim a deduction of less than $1,000 for work-related expenses in their tax return. This change is subject to...[Read More]
Find out if your business is eligible for the $20,000 instant asset write-off for the 2024–25 income year.
21 May
Have you purchased or are you purchasing a business asset this financial year? The instant asset write-off limit is $20,000 for the 2024-25 income year. If your business has an aggregated annual turnover of less than $10 million and uses...[Read More]
‘Sustainable’: push to keep low-paid from falling back
21 May
Treasurer Jim Chalmers wants to ensure Australia’s lowest paid workers don’t go backwards, but stresses a real wage rise must not harm the economy. In its formal submission to the Fair Work Commission’s annual review of minimum and award...[Read More]
Trump’s tariff ‘rollercoaster’ raises recession risk
21 May
Australians are being assured the nation is well-placed to avoid a recession as the Reserve Bank expresses alarm over Donald Trump’s trade war “rollercoaster”. Forecasts released by the Reserve Bank of Australia have painted a bleak picture of...[Read More]
Borrowers rejoice as rates cut amid ‘uncertain’ times
21 May
A “dovish” Reserve Bank has cut interest rates to their lowest level in two years and raised hopes of more mortgage relief on the way for borrowers. Fears over what Donald Trump’s tariffs could do to the Australian economy dominated the RBA...[Read More]
Full extent of Trump’s tariff slap on economy revealed
21 May
Australia’s economy will take an $8 billion dollar hit in 2025 as a result of Donald Trump’s tariffs, the Reserve Bank estimates in updated economic forecasts. Inflation is also expected to come in lower than it otherwise would have, the RBA’s...[Read More]
Relief for borrowers as RBA hands down second rate cut – down to 3.85 per cent
20 May
The Reserve Bank of Australia has cut interest rates by a quarter of a percentage point in a widely-anticipated decision. Following the central bank’s first 25 basis point cut in February, the move brings the official cash rate down to 3.85 per...[Read More]
EOFY countdown: personal tax tips to maximise your refund
15 May
As the end of the financial year approaches, it’s a smart time to start preparing your personal tax return. Being proactive now can help you avoid stress, maximise your deductions, and potentially increase your refund. Whether you’re a...[Read More]
Taxation for small business owners: EOFY preparation and working with your accountant
15 May
As the end of the financial year (EOFY) approaches, small business owners face one of the most critical periods in their business calendar. Proper preparation and a clear understanding of your taxation obligations can make a significant difference...[Read More]
Make the most of EOFY: super strategies to discuss with your financial adviser
15 May
As the end of the financial year (EOFY) approaches, it’s a timely reminder to check in on your financial health and take advantage of opportunities to strengthen your retirement savings. Whether you’re looking to grow your superannuation,...[Read More]
Understanding debt recycling – transform bad debt into good debt
15 May
Debt recycling is a financial strategy that can help you transform bad debt into good debt, boosting your wealth and enhancing your financial future. This article explains the concept, its benefits, risks, and how it might apply to your specific...[Read More]
Money still on rate cut despite surprise spike in wages
14 May
Economists still expect the Reserve Bank to cut interest rates at its next board meeting despite a surprise spike in wage growth. Wages rose by a higher-than-expected 3.4 per cent over the year to March, Australian Bureau of Statistics figures...[Read More]
Jobs and wage data in focus ahead of interest rate call
14 May
Upcoming wages and unemployment data may have significant bearing on the Reserve Bank’s closely watched interest rate decision. Domestic signals have taken somewhat of a back seat since US President Donald Trump’s tariff dump in early April. But...[Read More]
Consumers in crossfire despite US-China trade war truce
14 May
Consumer confidence is improving, but Australians have been urged to temper their expectations after the treasurer noted the limits of a US-China trade truce. Both nations have agreed to a 90-day tariff reduction, with the United States committing...[Read More]