Millions of Australian taxpayers are at a greater risk of falling victim to tax fraud and identity theft than ever before, the nation’s chief tax boss has warned. Source
Economy
Falling food costs. Plummeting house prices. Ongoing interest rate cuts. Source
The Australian share market edged higher on Monday with mining stocks lifting the bourse and six out of 11 sectors closing up in the green. Source
Britain is in recession, official data showed Thursday, dealing another blow to embattled Prime Minister Rishi Sunak, whose Conservative party is forecast to lose a general election expected this year. Source
Treasury officials have indicated that Australia’s economy is currently moving in the right direction, raising the possibility of a future budget surplus. Source
Technology saw the biggest gains as the Australian sharemarket closed fractionally higher on Friday, but was overall down 0.71 per cent over the week. Source
Technology, utilities and banking sectors saw gains, as the Australian sharemarket climbed on Thursday. Source
Reserve Bank governor Michele Bullock has warned that interest rates may have to be hiked higher still, even as she acknowledged households were “hurting” under the impact of tighter monetary policy. Source
Anthony Albanese has branded himself as “an honest person” despite his backflip on the stage 3 tax cuts, as he vowed his government remained supportive of current rules around negative gearing and family trusts. Source
From the legendary Los Angeles Police Department to a Las Vegas school district, one Aussie tech company is on the cusp of a boom with a new virtual reality system that promises to revolutionise policing and STEM education. Source
The share market snapped its eight-day winning streak on Thursday, tumbling from its record-high after it was weighed down by a flurry of profit-taking and Federal Reserve chair Jerome Powell all but guaranteed US rates would not be cut in March. Source
Australia’s economy is expected grow faster while global inflation is set to fall quicker, the International Monetary Fund has forecast, easing recessionary fears. Source
Inflation eased in the December quarter to its lowest level in two years, all but guaranteeing the Reserve Bank has finished its aggressive run of rate hikes. Source
The Australian share market extended its gains on Wednesday for a seventh straight day, it’s longest streak in six months. Source
Australian shares notched their third consecutive day of gains on Tuesday – their longest winning streak of 2024 – after US stocks rallied to record levels. Source
The nation’s competition watchdog has urged Australians to become more aware of their consumer rights after tens of thousands of queries were made to the regulator over junk warranties and dodgy products last year. Source
Interest rates should be hiked even higher and Australian governments should slash spending to avoid stoking inflation, the International Monetary Fund has recommended. Source
China’s population decline accelerated in 2023, official data showed on Wednesday, extending a downward streak after more than six decades of growth as the country battles a looming demographic crisis. Source