Federal Report Highlights Economic Dangers of Climate Change

The recently released climate risk assessment report by the federal government serves as a stark warning about the multifaceted threats posed by climate change. Detailing the potential impacts on various sectors including healthcare, finance, infrastructure, and national security, the report underscores the urgent need for action. According to Assistant Minister…

Australian Stock Exchange Reaches Level High

Thursday saw the Australian Stock Exchange climb to an “all-time high”, which was helped largely by strong gains in the Australian banking sector. Australia’s 4 main banks all rallied on Thursday, with Commonwealth Bank of Australia breaking company records. Ed Boyd, Business Report for Sky News, tempered the good news…

House Prices Rise Despite Downward Market Pressures

According to the latest data from CoreLogic, the Home Value Index, which tracks the prices of houses and units in the country, experienced a national increase of 0.6 per cent. This surge was observed across all major cities except Hobart, with Perth leading the pack with a significant rise of…

Australian Unemployment Rates Reach a High

The Australian economy finds itself grappling with a sobering reality as unemployment in the country surges to a two-year high at the outset of 2024. This uptick underscores a notable cooling in the labour market, prompting repercussions across various sectors and sparking speculation about potential policy responses. Data released by…

RBA Governor Warns Recovery is Not Complete Yet

Michelle Bullock, RBA Governor, has warned “the job’s not done” after the bank’s recent decision to maintain interest rates. The RBA’s choice to keep the cash rate target steady at 4.35 per cent comes amid a backdrop of economic uncertainty and inflation concerns. During a historic press conference following the…

Australian Share Market Falls After US Rate Cut Disappointment

After reaching a record high, the Australian stock market experienced a significant drop, reflecting investor concerns and a shift in expectations regarding interest rates. Chair Powell’s comments, delivered at the January Federal Open Market Committee (FOMC) meeting, sent ripples through global markets. Despite speculation and market bets on rate cuts,…

Audit Shield claims activity across Australia Jul – Dec 2023

The intricacies of the Australian Taxation Office (ATO) and other government revenue authorities’ audit activities are ever evolving.  They demand constant vigilance from businesses, self-managed superannuation funds (SMSFs), individuals and their supporting accounting professionals. Employing a blend of cutting-edge strategies, including advanced data matching, artificial intelligence, industry benchmarking, and many…

Economic Outlook 2024: Projections, Challenges, and Path to Recovery

CommBank’s chief economist, Stephen Halmarick, recently offered a comprehensive view of the economic trajectory for the upcoming year. Halmarick’s insights delve into critical facets such as interest rates, inflation rates, housing market trends, and the broader economic outlook for Australia. The impact of 2023’s interest rate hikes reverberated through the…