As part of the Morrison government’s “coronavirus stimulus package”, it has been announced that starting on the 31st of March, pensioners and welfare recipients will be given $750 cash payments to help encourage economic activity in Australia amidst the COVID-19 crisis. The initiative will make up $4.8 billion of the larger $17 billion coronavirus stimulus […]

With both the Australian bushfires and COVID-19 (coronavirus) affecting living circumstances in January 2020, the ABS confirms that there has been negative impacts to international trade in goods and services. The balance on goods and services was a surplus of $4,984m in January, an $83m decrease on the surplus in December 2019 in trend terms. […]

According to figures released by the Australian Bureau of Statistics (ABS), the Wage Price Index (WPI) rose by 0.5%, seasonally adjusted, in the December quarter in 2019. WPI also rose 2.2% through last year. Victoria had the highest recorded wage growth of 2.6%. Western Australia had the lowest wage growth if 1.7%, making it the […]

The most recent Australian Bureau of Statistics (ABS) Retail Trade figures show that in December 2019, Australian retail turnover fell by 5%, seasonally adjusted. This was a fall from the 1% retail turnover rise in November 2019. November 2019 was strong with Black Friday sales. The fall in December was affected by the bushfires and […]

In November 2019, the value of new loan commitments for housing rose by 1.8%, seasonally adjusted. The number of loan commitments to owner occupier first home buyers dropped by 0.4% in October and 0.9% in December. The value of new loan commitments for owner occupier housing rose by 1.6% in November, making it the sixth […]

In seasonally adjusted terms, the balance on goods and services was a surplus of $5,800 million in November 2019. This is an increase of $1,725 million from the surplus in October 2019, up 42%. Goods and services credits rose to $40,893 million, up by 2%. Non-rural goods rose by $718 million and rural goods rose […]

Below is a summary of which I think are the most important aspects from the May 3rd 2016 Budget from a Tax & Superannuation perspective. We just need to remember that a lot of these still need to passed as law so it is not 100% that they will end up in place, but there […]