#ATO #TaxReturn #Taxes It looks like the recent tax rebates are not stimulating the economy as much as hoped because people are using it to pay off debt. An encouraging sign or more evidence that people are getting worried? References ATO’s tax rebate fails to stimulate the economy as Aussie use it to pay off […]
Tag: Australia
Australians don’t know the cash rate
#RBA #CashRate #Australia Nearly 90% of Australians don’t know what the cash rate is. A sign of lack of interest in financial news or failure of our education system? References https://www.news.com.au/finance/economy/interest-rates/most-australians-dont-know-what-the-official-cash-rate-is/news-story/825f4c8dc94cbcc26813f583aaf61ee3
JB Hi-Fi Bucks the Retail Recession
Unemployment #Recession #Retail JB Hi-Fi has bucked the trend and avoided the impact of the retail recession. A turn-around or simply a result of their product brand a people naively spending a tax-cut like a handout? References JB Hi-Fi announces strong profit, despite bleak retail conditions https://www.abc.net.au/news/2019-08-12/jb-hi-fi-results-profit-tough-retail-sector/11404608?section=business
#Unemployment #Recession #Economy Market Economists are predicting Australia’s Unemployment rate will rise late this week. That would seem to align with the recent news about the retail recession that is underway. References Wage and unemployment numbers set to pressure RBA to cut interest rates again https://www.abc.net.au/news/2019-08-11/interest-rates-under-pressure-again-from-wage-jobs-figures/11398864?section=business Roy Morgan Employment Estimates (1999-2019) https://www.roymorgan.com/morganpoll/unemployment/estimates-detailed
#CashLimit #AusPOL #$10,000 The Australian government is proposing to limit cash transaction to $10,000 or less to reduce the black market, make sure you get your submission to Treasury before the deadline on the 12 August 2019. References John Adam’s – https://www.adamseconomics.com/post/cash-transaction-ban-consultation-submission-john-adams?fbclid=IwAR0bwG9IHoyRHoy4KaTklKjQ6QyNS2VNbD9cAlmRaF_LgRIxm_RmX6lBff0 My Submission – https://says.heise.com.au/contacting-the-house-of-reps-about-the-restrictions-on-the-use-of-cash/ Treasury – https://www.treasury.gov.au/consultation/c2019-t395788
Australia’s Retail Recession Worsens
#Recession #Retail #Kmart K-Mart’s sales figures have declined, signalling a worsening of Australia’s Retail Recession. What will happen when Amazon starts to take off in Australia? References https://www.news.com.au/finance/business/retail/retail-sector-in-recession-warning-signs-for-kmart-big-w-myer-and-david-jones/news-story/22b6d944bb3d82fc6d93437d433c04b6
#RealEstate #Property #SkyRocket Sydney property is apparently set to SkyRocket! Another attempt at inducing FOMO or an accurate prediction for the future? References Home seekers urged to buy Sydney property soon or risk paying a higher price https://www.news.com.au/finance/real-estate/sydney-nsw/home-seekers-urged-to-buy-sydney-property-soon-or-risk-paying-a-higher-price/news-story/a0321a743d1749c04e667508d58df49a Australia’s Housing Market Is Suddenly Heating Up Again https://www.bloomberg.com/news/articles/2019-08-07/all-of-a-sudden-australia-s-housing-market-is-heating-up-again?srnd=premium-asia
Tax $1080 Tax Return Surprise
#TaxReturn #Australia #ATO People are surprised that they won’t get a tax return if they haven’t paid any taxes. Perhaps we need to improve our financial education? References https://www.news.com.au/finance/money/tax/why-scott-morrisons-1080-tax-bonus-may-never-reach-your-bank-account/news-story/46558679e55bd937ba7a72709ba0b241
Fractional Reserve Banking
#Banking #Finance #FractionalReserveBanking Let’s look at the concept of Fractional Reserve Banking before we look at the even scarier Capital Regulations for banking in Australia. References Fractional Reserve Banking https://www.investopedia.com/terms/f/fractionalreservebanking.asp
#Melbourne #WindorHotel #Planning Approval Victorian Minister for Planning Mr Richard Wynne has refused to extend the planning approval for the Windsor Hotel development. It appears that the Halim group was unable to secure finance for the $330 million dollar project. A sign of the apartment market perhaps? References https://www.theage.com.au/national/victoria/planning-minister-calls-time-on-windsor-hotel-redevelopment-saga-20190809-p52fht.html