Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Hope for homeowners as RBA tipped to slash interest rates by Christmas
Scammers are targeting myGov accounts during tax time. How can users protect their ATO refunds?
Scammers are duping Australian taxpayers out of thousands of dollars by fraudulently accessing online government accounts during the annual rush to complete tax returns. Federal government platforms are not immune to scams – with users of myGov being targeted in recent weeks. How do victims fall prey to those criminal scammers and how can people protect themselves?
RBA to hold rates steady in August; first cut seen in early 2025 predicted by economists
The Reserve Bank of Australia will hold interest rates on Tuesday at near a 13-year high and wait until the first quarter of 2025 before reducing them, according to economists polled by Reuters, as price pressures remain elevated.
SA tops Australia’s economic ladder again
South Australia’s economy has once again been recognised as a nation-leader for its robust jobs market and strong building activity.
ANZ-Roy Morgan Consumer Confidence eases due to concerns about the Australian economy after biggest weekly jump in over three years
ANZ-Roy Morgan Consumer Confidence eased 1.3pts to 83.1 this week after last week’s big weekly jump – the largest in over three years since mid-April 2021. Looking longer-term the index has now spent a record 78 straight weeks (equivalent to 18 months) below the mark of 85.
2 factors that will ‘materially impact’ your superannuation returns
In a recent article, Vanguard’s Chief Investment Officer Duncan Burns said two factors will “materially impact your superannuation balance at retirement”. They are investment performance, and the fees charged by your superannuation provider.
Mercer to pay $11.3m penalty in landmark ‘greenwashing’ case brought by ASIC
Mercer Superannuation (Australia) has been ordered pay an $11.3 million penalty after the financial services group admitted to making misleading statements about the sustainable nature of some of its superannuation products.
ASBFEO’s small business indicator reveals decline in conditions
The Small Business Pulse recently launched by the Australian Small Business and Family Enterprise Ombudsman’s (ASBFEO) ‘Pulse’ has shown that conditions over the last 12 months for small businesses have deteriorated by 3.5 per cent. ASBFEO Bruce Billson said the ‘Small Business Pulse’ is an innovative combination of non-traditional and traditional data to produce an indicator of small business health.
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