Student loans will now be adjusted annually based on the lower rate between the Wage Price Index (WPI) and the Consumer Price Index (CPI). This modification is effective retroactively for the previous two fiscal years.
Australia's household wealth surged 9.9% to a record $16.9 trillion, driven by rising house prices, strong superannuation growth, and a booming share market.
Stock markets mostly climbed and the dollar steadied against main rivals Wednesday with the US Federal Reserve set to cut interest rates.
The promotional stunt, organized by the Libertarian Party, aimed to protest the government's fuel taxes, which currently added 55 cents per litre to the cost of petrol.
According to Canstar's insights director, Sally Tindall, the cycle of cutting fixed rates appears to have paused for now. However, she suggests that there could be some relief in the new year, with potential rate cuts offering much-needed support to homeowners.
ACCC's warning followed a concerning report from The Salvation Army, which found that 29.9% of Australians "will struggle to pay their rent or mortgage this Christmas." The report also revealed that one in five people has had to skip medical care to afford Christmas expenses.
According to Afterpay's latest "Afterpaid" report, clothing, and fashion items such as crocs, trainers, leggings, and loungewear were flying off the shelves, with red items seeing a 24% jump from 2023.
Individuals affected by this change will be required to switch to electronic payment methods to send foreign currency.
European Central Bank chief Christine Lagarde said Monday eurozone policymakers would keep cutting interest rates and warned that higher US tariffs under President-elect Donald Trump could hit growth in the bloc.
The US Federal Reserve is widely expected to announce a quarter point cut to its key lending rate on Wednesday despite a recent uptick in inflation, in the central bank's last meeting of Joe Biden's presidency.
Based on PropTrack figures, homes priced under AU$600,000 are increasingly difficult to find, and properties under AU$400,000 are nearly disappearing in the country's five largest cities.
According to Finder's latest research, the average Australian plans to spend AU$1,357 on Christmas, which constitutes AU$28.4 billion nationwide. Compared to the average spend of AU$1,479 (AU$30 billion countrywide) in 2023, this indicates an 8% decrease.
AMP's decision comes as the AU$4 trillion retirement savings industry has largely shunned the asset class, citing concerns over its unpredictable nature.
Stock markets diverged Friday as traders were disappointed by China's latest boosts to its beleaguered economy and looked ahead to a key US Federal Reserve meeting next week.
An estimated 5.8 million people are expected to pass through Sydney Airport between Dec. 13 and Jan. 27 -- nearly half a million more than last year.
A research, commissioned by Australian Seniors, found that the pension was only covering 76% of the total lifestyle expenses, with seniors getting caught in the tight choice between buying essential items and discretionary spending for future savings,
Since March 2022, more people have been moving to regional Australia, driven by high property prices and cost-of-living pressures in the cities, according to recent reports from the Regional Australia Institute and the Commonwealth Bank.
Apple Intelligence will also introduce the ChatGPT feature directly into Siri and Writing Tools, which will allow users to generate content without switching between programs, from serious correspondence to imaginative writing.
