Tax cuts that ‘may never happen’
Millions of Aussies are celebrating new tax cuts headed their way. But there’s another range of cuts that may never see the light of day.
Economy
Why Australia’s economy isn’t ‘buggered’
Australians may be worried about the sheer amount of debt the country is taking on but one figure shows it’s actually not as bad as it looks.
Sudden move makes stock market dive
The stock market plummeted today and Donald Trump’s own advisers were baffled after he suddenly quit critical coronavirus negotiations.
The ‘mistake’ we’ll make with tax cuts
We’re all excited about the upcoming tax cuts from the Federal Budget. And there is one sure thing we’ll spend it on.
One huge catch with your tax cut
Treasurer Josh Frydenberg has promised workers extra cash in their pay packets from this month, but the vast majority will be forced to wait.
The big losers from the Budget
The Morrison Government’s billion-dollar cash splash in Tuesday’s Budget won’t be good for everyone. Here’s what you can expect.
Australia Post reveals huge hiring blitz
In good news for the huge number of Aussies struggling to find work ahead of Christmas, 4000 new jobs have been added to the market.
House prices pull off ‘striking turn’
Buying sentiment is beginning to return but a leading economist has issued a warning, saying looking into the good news is “dangerous”.
Flight Centre to close even more stores
Australia’s largest travel agency is set to get smaller, announcing they will close another 90 store fronts and axe hundreds of jobs.
Where you can get a fruit picking job
Farmers and fruit growers are so understaffed they’ve resorted to ploughing their crops straight back into the ground.
Double dip danger could spell disaster
Australia has clawed its way out of recession in the last quarter, but all that progress could be ruined with a single wrong step by the Treasurer.
Treasurer’s huge budget ‘mistake’ looms
Economists have warned Josh Frydenberg’s plan could leave Australia vulnerable to a “double dip” recession that would make us all worse off.
Big changes to save small businesses
Thousands of small businesses on the brink of collapse due to the COVID-19 pandemic will be thrown a lifeline under new reforms to insolvency laws.
Chilling economic ‘bloodbath’ looming
An expert has warned of a tsunami of job losses ahead – and revealed how some sacked workers can get six months’ salary for just $75.
Aussie millionaires claiming JobSeeker
Thousands of millionaires sitting on substantial cash and assets have been pocketing JobSeeker payments during the coronavirus crisis.
When Australia’s real pain will start
The countdown is on to the day the rug will be pulled from under us. This is when Aussies will feel the real economic pain of the pandemic.
Payment boost for one key group
One group of Australians will get a boost to their payments but those getting JobSeeker will have to wait longer to learn their fate.
‘Appalling’: US company getting JobKeeper
Anger is growing after it was revealed an elite US university is receiving JobKeeper payments while Aussie institutions miss out.
JobKeeper crackdown busts thousands
The ATO has gone after Aussies rorting the wage subsidy scheme after receiving 9000 tip-offs from the public, clawing back $75 million so far.
Sutton savaged in scathing resignation
A Victorian government official has taken aim at Daniel Andrews and health chief Brett Sutton in a scathing resignation letter.
Unexpected result in jobless data
Coronavirus has wreaked havoc on Australia’s economy and the unemployment rate, but there was a surprising detail in today’s jobless data.
Mum takes on Andrews at Supreme Court
A mother-of-three and cafe owner who has made a Supreme Court challenge to Victoria’s curfew could free the state from restrictions.
Death of Aussie city centres imminent
Experts fear the look and feel of our major capitals will rapidly deteriorate, thanks to a permanent “mass exodus” of workers and shoppers.
Big problem with Dan’s $290m plan
A glaring problem has emerged with Daniel Andrews’ $290 million plan to transform Melbourne and save the city’s collapsing hospitality industry.
Dan slammed over curfew change
Victorian Opposition Leader Michael O’Brien has slammed Daniel Andrews’ shutdown and called to scrap the nightly curfew despite new changes.
Kmart boss in swipe at Andrews
The boss of retail giants Kmart and Target has delivered a swipe at Victorian Premier Dan Andrews, after he was taken by “complete surprise”.
Truckie sacked for taking virus test
A Victorian truckie called his boss to tell him he needed to get a COVID-19 test. The response from his boss, he says, was shocking.
JobKeeper hack could earn extra $500
One million Aussies forced to rely on JobKeeper are being urged to also apply for the dole. But it could earn them some extra cash.
Melbourne woman’s JobKeeper confession
Sarah Marshall, 26, is one of millions of Australians on JobKeeper – but after September 27, her future is looking impossibly bleak.
PM defends JobKeeper cut to Victoria
Vital economic support for more than one million Victorians will be slashed this month, just as the harsh stage four lockdown is extended.
Aus economy’s ‘unusual’ virus response
The Australian economic outlook is definitely “ugly” but how we’re dealing with the COVID recession is different to just about elsewhere due to one unique factor.
‘Next war’: Biggest losers in recession
We’re officially in the grip of the worst economic downturn since World War II. And one group will pay for the crisis for decades to come.
Huge tax cuts to be brought forward
An emergency plan to cope with the devastating recession is being hashed out and is likely to include immediate massive tax cuts for Aussies.
How much you will save from tax cuts
The vast majority of Aussies will save $1080 through the tax changes but this quickly climbs to $2565 depending on your income.
‘Diabolical’: Grim warning for Aussie jobs
Australians have been warned to expect a long road ahead before the economic disaster turns around, as spats over JobKeeper flare up.
‘Car crash’ Dan under fire over lockdown
Treasurer Josh Frydenberg has unleashed on Daniel Andrews for refusing to provide a road map out of lockdown, which is wreaking economic havoc.
Mum evicted in ‘heartless’ note
A struggling mother-of-two found out she had just one day to get her things packed when her property manager left a harsh eviction notice.
Hurdle that will stop cheap Aussie airfares
Those cheap flights to Bali and Hawaii may well and truly be on hold, but the forecast for discounted fares within Australia could also be a thing of the past.
Date Hawaii will open borders to Australia
New Zealand might be off the cards for the time being, but now this popular tourist destination has floated the idea of a travel bubble with Australia.
Three-year boon for Aussie homeowners
It will be happy days for Aussie homeowners for the next three years according to PM Scott Morrison – if you’re lucky enough to own one that is.
Restaurant’s tweet divides the internet
A floating restaurant has slammed a social media star, who contacted management asking for an “influencer’s rate” to dine on their boat.
Surprise three Qantas routes now booming
Qantas’ CEO says that despite state border closures causing havoc on Australia’s domestic sector, three flights are performing better than ever.
Warning over ‘bitter aftermath’ of virus
The COVID-19 pandemic came as a “savage” shock to many and Australia is now facing a “bitter aftermath” that will last years.
Odd millennial spending habit post-COVID
A survey has found a disturbing new trend among millennials – despite being hit hard by the pandemic, they won’t curb their lavish lifestyle in front of friends.
Victorian lockdown must be extended
Modelling shows where Victoria is headed and when Melbourne’s stage 4 coronavirus lockdown, already in place for two weeks, could be lifted.
‘Vile slurs’ about infected family spread
The family at the centre of New Zealand’s coronavirus cluster are struggling to cope with vile slurs spreading online about them.
Aussies told to ‘cancel Christmas plans’
Australians have been told to cancel interstate Christmas plans, as it becomes more and more likely borders could be closed for a long time.
Virus hotspot’s remarkable recovery
A few short months ago Italy was in the throes of a health crisis, but now life has largely returned to normal for its 60 million citizens.
PM doubts borders will open by Christmas
As borders around the country remain closed, Prime Minister Scott Morrison has dashed hopes restrictions will be lifted in time for Christmas.
Ad hints travel bubble could be years away
Just days after Prime Minister Jacinda Ardern knocked the NZ trans-Tasman travel bubble on the head, a new ad suggests how long we will have to wait.
Vital lifeline for Aussie workers
Plans to slash the JobKeeper payment from $1500 to $1200 could now be abandoned in the wake of the “Victorian wave” of coronavirus.
Shocking cost of Victoria’s new lockdown
The PM has revealed a shock new forecast for Australia’s economy as a result of Victoria’s lockdown that’s much higher than initially predicted.
‘Endangered’: Grim warning for airlines
Experts say that a change in the way airlines deal with business travellers will have a lasting impact on how much holiday-makers pay for a seat.
What Gladys must do to save NSW
It’s time to actually close the Victorian border and stop all flights from Melbourne, or impose strict quarantine, before it’s too late.
Keating says Boomers ‘want everything’
Paul Keating has lashed out at greedy Baby Boomers, saying they’d never put up with low wages and raiding their own super.
PM brings in $1500 disaster payment
The Prime Minister has announced a “disaster payment” for those who have been directed to isolate for 14 days by health officials.
Melbourne prices to fall 20 per cent
A day after Victoria entered stage 4 lockdown, the pain is beginning to be realised in the housing sector as nearly all cities record losses.
Kmart slammed: ‘Like it’s closing down’
Kmart said its stores would be “back to normal by July”. It’s now August and shelves are still empty and customers are increasingly frustrated.
‘Zombie’ businesses’ warning to PM
Hundreds of businesses are teetering on a knife edge with many warning the PM they may not survive once JobKeeper support is pulled.
McDonald’s $5.3 billion nightmare
The iconic fast food chain has revealed that profits plunged during the coronavirus pandemic, but its Australian division outperformed.
Why record gold price a ‘sign of trouble’
The Australian share market lifted on Tuesday thanks to the precious commodity but analysts warn its value is linked to dire forecasts.
From $44m disaster to $1b market leader
Just three years ago, this Aussie online retailer was haemorrhaging cash but today it reported an earnings surge of 500 per cent.
One factor driving Victoria’s second wave
Victorian Premier Dan Andrews has named one major culprit for the devastating second wave hitting Victoria — workplaces.
Answer to scary debt question
Australia’s economy is facing a meltdown and our only hope of avoiding calamity is doing the one thing we’ve been warned against for years.
50 NSW venues hit with COVID-19 cases
More than 50 venues across NSW have recorded COVID-19 cases, with the list of impacted businesses growing at an alarming rate.
Waitress breaks down over giant tip
A waitress who had been out of work for months because of virus shutdowns has been moved to tears by a customer’s generous tip.
HomeBuilder scheme sparks frenzy
The new home stimulus package has inspired a huge response but property experts question its effectiveness as virus cases soar.
Big clue on when air travel will resume
Treasurer Josh Frydenberg has dropped a big clue when international air travel could resume and our state borders will reopen.
1 in 10 Aussies unemployed by Christmas
The Morrison Government has predicted a shocking number of Aussies will be out of work this year while delivering a sobering forecast.
700,000 Aussies sacked over job catch
A new discussion paper has revealed the extraordinary number of workers who were not eligible for JobKeeper sacked by their employers.
Australia’s $850 billion debt bomb revealed
The Morrison Government was meant to unveil Australia’s long-awaited surplus this year. Instead Australia has recorded the biggest deficit in decades.
Priceline selling 50 masks for $249
As Melbourne’s deadline for mandatory face masks looms, demand has soared. One retailer has stock, but it comes with a big price tag.
New plan to create 76,000 jobs
The twin crises of the summer fires and the coronavirus-induced recession has created the need for a policy overhaul, a new report says.
Nation’s ‘eye-watering’ debt due to virus
Australia is about to discover just how much the coronavirus crisis has cost, with the Treasurer warning the debt and deficit level will be “eye-watering”.
Dole payments set to be slashed
The Prime Minister and Treasurer have revealed just how much they’ll cut dole payments by, confirming JobSeeker payments will be slashed under new changes.
The job nobody wants to apply for
A million people are out of work in Australia but there are still some jobs that surprisingly no-one wants to apply for. One boss is blaming JobSeeker.
Huge change coming to JobKeeper
JobKeeper is set to be extended. But before you breathe a sigh of relief, it will be worth less and it will be harder to claim the wage subsidy.
Vic outbreak’s huge cost to other states
Victoria’s outbreak is holding back the recovery in other states with plans for a travel bubble and the return of international students postponed.
‘Poor people’ issue Australia can’t ignore
A year ago, a strange thing happened in Australian politics and now, for the first time, the rich need the poor more than they need us.
Tiered payment to replace JobKeeper
Treasurer Josh Frydenberg has detailed an new support plan for those hardest hit by COVID-19 with a new “sliding scale” payment system.
Original URL: https://www.news.com.au/world/coronavirus/economy/page/4