The Australian federal budget, unveiled on Tuesday, bases several assumptions on Australians having access to a COVID-19 vaccine in 2021.
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This year’s budget is something of a play in two acts. Act one involves large economic stimulus to help plug the hole in output generated by the coronavirus pandemic. Act two tries to set Australia up for a bounce back in economic growth and employment that involves more than just waiting for the pandemic to end.
After two decades equating budget surpluses with good economic management, it might seem convenient that the federal government has changed its fiscal strategy just before the budget to focus on jobs over keeping the deficit in check.
It’s easy to get the impression the massive government spending and deficits and debt required by the pandemic are new. Yet for almost all of the years since Federation the Commonwealth budget has been in deficit.
New research indicates a fresh determination among Australia’s largest super funds to act on climate change risks.
The past financial year has been one of the most volatile on record for stock markets, yet almost every Australian super fund has delivered similar returns. This not only demonstrates that super funds very rarely make large calls about when to buy and sell, it also gives an insight into what we should do when making our own investment decisions.
Alongside growing concerns over a possible resurgence of the coronavirus during winter, the pandemic is now creating even more victims as cybercriminals aim to capitalise on the economic upheaval.
In bad news for retirees and others who depend on dividend cheques (and dividend imputation rebate cheques from the Tax Office) bank dividends have largely evaporated. But it’s not as bad as many commentators suggest, and actually good for some investors.
In early April APRA sent an extraordinary letter to Australia’s banks and insurers, essentially telling them to cut their dividend payments to shareholders in light of the coronavirus crisis.
With Australia now facing a severe economic (and health) crisis, there are calls to allow people to access their superannuation to obtain cash.
Stock markets have crashed, we can be confident of that. History suggests there is no quick recovery from crashes like these, which means lasting consequences for investors.
The assumption that retired people have minimal housing costs underpins the settings of our retirement incomes system. But the real state of housing for older Australians today makes it critical for the Retirement Incomes Review to look at the evidence that now challenges this assumption.
Older lesbian, gay, bisexual, transgender and intersex (LGBTI+) people fear discrimination, exclusion and isolation in Australia’s aged care services, we found in our research.
Among the topics being investigated by the government’s retirement incomes review is whether compulsory super contributions should be lifted from 9.5% to 12%.
When will I die? This question has endured across cultures and civilisations. It has given rise to a plethora of religions and spiritual paths over thousands of years, and more recently, some highly amusing apps.