Eco

Tax returns to be axed for 1.4m Australians

Fleur Anderson Up to 1.4 million taxpayers will be freed from the hassle of completing a tax return and will receive a "thank you" receipt from the Treasurer for paying their taxes from July 1 this year.

Food

Call for food export tax breaks

agriculture farming farm australia tractor

Jared Lynch Tax breaks on the export earnings of food and beverage companies are needed to attract much needed foreign investment and earn Australia a bigger slice of Asia's dining boom, a business advisory firm...

Economy

Australians living the high cost life

Australia flag

Australia has been named the world's fourth most expensive country to live in by a study that also indicates China is poised to overtake the US as the world's biggest economy.

Tax

Deficit levy would wipe out a decade of tax cuts

Joe Hockey

John Collett If the government does announce a deficit levy in the budget on May 13, almost all of the reductions in income tax over the past 10 years will be clawed back.

Economy

Foreign tourists spend record $29b in Australia

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Jamie Freed International visitors to Australia spent a record $28.9 billion last year – a 6 per cent rise from the prior year

Eco

Public service is Australia's hidden jobs boom

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Twice as many public servants than mining workers were hired in Australia's 10-year resources boom, enlarging the bureaucracy and inflating public spending.

Gerry Harvey criticises proposed deficit levy

Gerry Harvey

Gareth Hutchens Gerry Harvey says the proposed deficit levy will do nothing to fix the big economic problem facing Australia.

Economy

Weaker dollar? Not so fast

Aussie dollar

Bianca Hartge-Hazelman Despite calls for a weaker dollar many businesses want the Australian currency to stay above US90¢.

Economy

New deficit levy would hit consumer sentiment but effects on spending unknown, say economists

Treasurer Joe Hockey.

Gareth Hutchens The Abbott government's proposed "deficit levy" expected to be introduced in the May budget will hit consumer sentiment at a sore time for Australian retailers.

Retail

Tough budget won't hurt spending, says Wesfarmers chief Richard Goyder

NEWS  -  Richard Goyder, Managing Director of WestFarmers at the Coles Floreat, 250th renewal store in Floreat, Perth. Photo Ross Swanborough. 270612

Eli Greenblat Wesfarmers boss Richard Goyder said he wasn't fearful of a dive in consumer demand if the federal government introduced a raft of tax hikes, new levies and spending cuts as part of what it is touting...

Legal

Bank-owned super funds rebuffed by Fair Work Commission

superannuation

Georgia Wilkins Bank-owned super funds have lost a bid to thwart a review into super funds which could see them lose control over the more than $9 billion made in default super contributions each year.

Eco

Australia's business confidence falling

Bianca Hartge-Hazelman Australian businesses are less confident about the future than they were at the end of last year, a new report has found, with many worried about higher interest rates and an Australian dollar that...

Economy

Tourism investment on the rise

Jamie Freed The investment pipeline for Australian tourism grew by $5.2 billion to $49.4 billion in 2013, but most of the gains were from the weaker Australian dollar raising the value of forward aircraft orders...

Economy

Interest rates on hold as inflation cools

Aussie dollar soars with inflation tip (Thumbnail)

Glenda Kwek A weaker than expected rise in consumer prices over the first three months of this year has sparked a sharp fall in the dollar and pushed back expectations of an increase in interest rates.

Malcolm Maiden

Softer CPI figures offer a little breathing room, for now

Malcolm Maiden dinkus

Malcolm Maiden Wednesday's March quarter consumer price index result is a get-out-of-jail card for the markets, the Reserve Bank and the Australian government as it prepares a budget for 2014-15 that will walk a...

Eco

Rate rise fears ease on soft inflation numbers

RBA

Glenda Kwek Consumer prices were softer-than-expected in the first three months of this year, lowering expectations that an interest rate hike could be on the cards later this year.

Government's frustration on RBA stance 'risks central bank's independence'

Hockey

Vesna Poljak The Abbott government risks undermining the integrity of the Reserve Bank of Australia in conveying its frustration with the RBA's shift to a neutral policy stance that has fuelled a higher value...

Saving

More Aussies breaking their piggy banks

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The number of households dipping into their savings is at a near 20-year high, which may be a sign of growing optimism about the economy.

Float

Three banks to float Medibank Private

Medibank

Anthony Macdonald The federal government has appointed Deutsche Bank, Goldman Sachs and Macquarie Capital to float private health insurer Medibank Private, after receiving pitches from 11 investment banks.

Eco

Business confidence still high, says NAB

Things are getting better for Australian businesses, with confidence still at elevated levels and trading conditions on the improve.