Home / Posts tagged "Australian economy" (Page 3)

Australian economy

ATO Interest No Longer Tax Deductible

Posted on by Laze Spasevski
ATO Interest No Longer Tax Deductible
From 1 July 2025, the interest charged by the Australian Taxation Office (ATO) on overdue tax debts will no longer be tax deductible. Until now, some business owners have treated the general interest charge (GIC) – currently 11.17% and compounding daily – as a manageable expense. But from the 2025–26 financial year, that interest will increase your costs without reducing your tax bill. T...
Read More

Consumers Cautious with Spending

Posted on by Laze Spasevski
Consumers Cautious with Spending
Based on the latest data from the Australian Bureau of Statistics, consumers are cautious with their spending, leading to challenging conditions for businesses. Household spending in April was just 0.1% higher than the month before, while retail spending was actually 0.1% lower, according to the latest data from the Australian Bureau of Statistics. This cautious spending behaviour is ref...
Read More

RBA May Cut Rates Again

Posted on by Laze Spasevski
RBA May Cut Rates Again
RBA may cut rates again as the inflation rate for April was 2.4% based on the latest date from the Australian Bureau of Statistics. That marked the ninth consecutive month headline inflation had been within the RBA's target range of 2–3%. More importantly, the ‘trimmed mean’ inflation rate – which the Reserve Bank of Australia (RBA) considers more reliable as it removes volatile price movem...
Read More

What Housing Policies ALP Promised to Voters

Posted on by Laze Spasevski
Quick Guide to ALP Housing Promises
Now that Anthony Albanese has started his second term as prime minister, let's explore the housing policies the Australian Labor Party (ALP) promised to voters. Starting in 2026, the ALP will expand the Home Guarantee Scheme to include all first home buyers. Right now, the scheme limits access to 50,000 places per year and sets income caps. The ALP says "the new rules will let anyone apply,...
Read More

Borrowers Embrace Refinancing

Posted on by Laze Spasevski
Borrowers Embracing Refinancing
Market commentators are expecting a big jump in refinancing activity in the coming weeks, given that numerous borrowers embrace refinancing their home loans earlier in the year following the previous cash rate cut, in February, by the Reserve Bank of Australia. Equifax, a credit reporting agency, has reported that the number of mortgage applications in the first quarter of 2025 was 5.2% hig...
Read More

840 Cranes Operating Nationwide

Posted on by Laze Spasevski
840 Cranes Operating Nationwide
According to multinational construction group, RLB, 840 cranes are operating nationwide. Construction crane numbers remain strong across Australia despite a recent dip in building activity. With 840 cranes operating nationwide during the first quarter of 2025, the country continues its streak of 800-plus active cranes. This trend started in the first quarter of 2022. However, numbers were l...
Read More

Young Australians Struggling to Find Jobs

Posted on by Laze Spasevski
Finding a job "increasingly complex" for young workers
Young Australians, aged 15-24 years, are struggling to find jobs. Their struggle is primarily due to a combination of factors, including a lack of skills, qualifications, and experience, which places them at a disadvantage in the competitive job market. As a result, the youth unemployment rate is consistently about five percentage points higher than the national average. According to Jobs &...
Read More

Government Aims to Protect Small Businesses

Posted on by Laze Spasevski
New protections aim to level the playing field between big & small companies
The federal government aims to protect small businesses from unfair trading practices imposed on them by larger companies. The government said, "Treasury will consult this year on the design of protections for businesses, including whether a principles-based prohibition should apply and whether specific unfair trading practices should target small businesses." Unfair practices may includ...
Read More

Insolvency Levels Surged

Posted on by Laze Spasevski
Insolvency Levels Surge
In worrying news for the small business sector, insolvency levels have surged to their highest point in nine years. Insolvency levels in the March quarter were 41.1% higher than the year before and 145.7% higher than the year before that, according to the latest data from credit bureau Equifax. Business owners in the construction and hospitality sectors are doing it particularly tough, b...
Read More

Wages Increased 0.8% in the March Quarter

Posted on by Laze Spasevski
The wages of the average Australian worker increased 0.8% in the March quarter. This takes annual wages growth to 4.1%, according to the Australian Bureau of Statistics. The industries with the biggest annual increases in wages were: Health care & social assistance: 5.3% Electricity, gas, water & waste services: 4.4% Retail trade: 4.4% Transport, postal & warehousi...
Read More
Top