The number of part-time hours worked fell 1.5 percent in September, with full-time hours worked rising by 0.4 percent, which is “closely aligned in annual growth”.
The ATO states that it will "consult with relevant stakeholders and stewardship groups to identify alternative arrangements for businesses and individuals who are unable to pay via other methods".
The ruling also identifies certain duty concessions that may apply, including where a landholder's land holdings include leasehold estates, fixtures owned separately from land, and/or primary production land.
The memorandum would strengthen cooperation between Australia and Japan by setting up annual discussions on economic outlooks and security, investment cooperation, and strategic cooperation.
In this environment, the RBA recommends that financial institutions continue to build resilience to financial, operational and geopolitical shocks, and that crisis preparedness plans are strengthened.
The supervisory letters form part of a broader Council of Financial Regulators workstream, to improve how regulators coordinate, collect and share data, and respond to the Treasurer’s request for the financial sector.
Fuel spending rose 8.1 percent in the month following the restoration of fuel excise duty, if excluded, total household spending would have fallen 0.3 percent, according to the ABS' latest figures.
According to the report, the improvement in the 2025–26 outcome since the 2026–27 Budget estimate was due to a combination of lower payments and a better-than-expected outcome for receipts.
The labour participation rate also increased by 0.2 percentage points to 67.1 percent, whereas underemployment dropped 0.1 percentage points in the month to 6.2 percent.
According to Treasury, projections in the report are meant to help inform and improve public policy settings to better position Australia for the next 40 years.
ASIC Commissioner says that statutory reporting has not only resulted in heightened transparency, but also more meaningful engagement by entities with climate-related risks and opportunities.
The Federal Court decision is likely to attract significant attention from taxpayers and advisers given its potential implications for the post-2013 Part IVA regime.
Despite the mean dwelling price fell 0.7 percent, which is consistent with the recent softening in housing market conditions, the value of Australia’s dwelling stock remains 8.5 percent higher year-on-year.
In its response, the Government agreed to all recommendations directed to it and says it supports the recommendations directed to the Australian Securities and Investments Commission or industry.
The Strategy is based on three connected principles for “effective financial innovation” – Government leadership, proportional and fit-for-purpose legislation, and public and private sector collaboration.
In its response, the Government acknowledges that ASIC has a wide regulatory remit but is confident in its ability to fulfil its responsibilities and will continue to take up opportunities to enhance its effectiveness.
Wages and salaries also rose 1.4 percent in the quarter with all industries recording rises, led by financial and insurance services, professional, scientific and technical services, and construction.
According to the policy costing, the proposal would be expected to increase the fiscal balance by around $5.1 billion and the underlying cash balance by around $4.7 billion over the 2026-27 Budget forward estimates period.
In its plan, Treasury states that it has a “significant agenda” ahead with domestic economic conditions and escalating global instability expected to continue, along with a renewed emphasis on productivity and better regulation.
The drop in spending on information, media and telecommunications equipment comes after a record 199.6 percent surge in investment in server racks and processing equipment for data centres in the previous quarter.
Hours worked also slipped 0.6 percent in July with New South Wales and Western Australia being the main drivers.
According to the Commission, though industry budgetary assistance has increased, the Future Made in Australia agenda has led a shift away from broad-based programs towards assistance to targeting specific industries.
The PBO adds that its fiscal sustainability analysis shows that in 24 out of 27 scenarios, national debt‑to‑GDP is expected to trend downwards over the 40‑year period.
The PBO adds that its fiscal sustainability analysis shows that in 24 out of 27 scenarios, national debt‑to‑GDP is expected to trend downwards over the 40‑year period.
As super funds now have three business days to allocate or reject a super payment, employers would need to check if the payments have been received and review any error messages and correct any details if it has been rejected.
Victoria SRO publishes two land transfer duty revenue rulings; United States imposes 50 percent tariffs on selected Canadian imports; OECD releases corporate tax statistics for 2026
Government publishes Statement of Expectations for APRA, ASIC; Global Minimum Tax expected to ‘reduce profit-shifting substantially’: OECD
The statements will ensure that APRA and ASIC can help support productivity, unlock investment, and grow the Australian economy while preserving financial stability and market integrity.
Over the long term, the report states that the fiscal position remains sustainable, but structural economic headwinds would place upward pressure on debt while rising budget pressures suggest budget balances face risks over time.
The RBA adds that the discussion paper is meant presents its preliminary research findings in building the first large-scale M&A transactions database to encourage discussion and comment.
ASIC added that 49 percent of approved DOCAs involved the company's business continuing to trade after the deed was executed and the VA and DOCA process for smaller businesses was less likely to result in a DOCA.
The report warns that rising debt volumes create risks, including that some taxpayers obtaining an "unfair financial advantage" over others.
Of the Australian businesses surveyed, 13 percent indicated they needed financial or advisory assistance or support, and over one third indicated they would seek assistance in the next four weeks.
The overall fall in profitability over 2024-25 was driven by a 19.1 percent drop in operating profits in the Mining industry, the second year in a row it dropped with 2023-24 recording a fall of 29.4 percent.
The new reduction will be an extension of the Government’s three-month cut to fuel excise and Heavy Vehicle Road User Charge, which was announced in March and set to expire at the end of this month.
In addition, the Government released a consultation paper on the design of a targeted 50 percent CGT discount for early-stage investors including founders and employee share scheme participants of innovative start-up businesses.
Senate Committee publishes report on enhancing Director ID regime, closing Modernising Business Registers program bill; Build-to-rent land tax exemption expansion bill passes Western Australia’s parliament
The changes are expected to reduce reporting for all accountable entities and the 4500 impacted accountable people, as well as at least halve the number of updates entities need to make.
High Court dismisses Commissioner’s Bendel Division 7A appeal; ATO update: Registrations open for fourth Pillar Two information session
The article was published for the purposes of supporting financial institutions, market participants, and the broader public in better understanding the potential impacts, in turn helping to strengthen contingency planning.
Australia's net international investment position increased $62.3 billion to a net liability position of $707.6 billion, its highest liability level since December 2023.
April's drop in household spending follows the 1.6 percent rise in March and 0.3 percent rise in February, though annual household spending was up 4.9 percent year-on-year.
APRA says that it has considered the high degree of uncertainty in the operating environment and the impact that the shift in the economic outlook is having on risks to financial stability.
The survey had found that 36 percent of businesses reported revenue had dropped over the past four weeks, 27 percent expect revenue to fall over the next four weeks.
APRA intensifies financial system oversight as geopolitics, technology challenges evolve
APRA is intensifying its oversight of its entities given developments in both the international and domestic environments and is sharpening its expectations for sound risk management by regulated entities.
Total employee wages reach record high in March as job numbers rise across industries; G7 welcomes global minimum tax side-by-side package, supports OECD digital economy taxation work
Total employee wages and salaries increased in 15 of the indicator’s 19 industries with mining recording the largest increase of 8.4 percent, followed by wholesale trade and utilities.
ASIC has also released its early observations on sustainability reporting, which were focused on whether users are being provided with high-quality and decision-useful information.
ASIC highlights 2026-27 key focus areas for financial reporting, audit and sustainability reporting
According to the ABS, the March quarter falls were recorded across all borrower types, though lending activity remains at high levels with total new home loans being 8.6 percent higher year-on-year.
Year-on-year headline inflation for the G7 also rose from 2.1 percent in February to 2.8 percent in March, which mainly reflects a 10 percentage point increase in energy inflation to 8.2 percent.
Costa Rica concludes negotiations on Trans-Pacific Partnership trade agreement
When it comes to household spending volumes, it experienced a 0.7 percent increase in the March quarter, the sixth consecutive quarter of rises, and up 2.8 percent year-on-year, the strongest annual growth since 2023.
Full FBT exemption for EVs to be phased out for permanent 25 percent discount from 2029 onwards; Middle East conflict fuel price surge spikes household spending in March: ABS
APRA is not proposing to introduce additional requirements at this stage but expects to see a significant improvement in how entities are closing the gaps between the power of the technology they are using and their ability to monitor and control it.
Commissioner’s appeal allowed in Toowoomba Regional Council tax dispute; Senate committee releases report on inquiry into new auditing standard-setting body bill; Federal Government responds to committee recommendations on instant asset write-off legislation; Report on independent review of Australia’s sovereign debt manager released; ATO update: Work-related deductions, omitted income errors under focus this tax time; Tax wedge rose in majority of OECD countries for four consecutive years
The report has found that the AOFM's debt management program is effective at meeting the financing needs of the Commonwealth and that it is administered in a cost-effective manner.
Victoria continued to have the highest taxation revenue per capita though its increase is the lowest amongst the states and territories with Queensland recording the largest increase in taxation revenue per capita.
The growth in job vacancies in the three months to February were led by rises in the Construction industry as well as in customer facing jobs like in retail trade and accommodation and food services.
The February rise of 0.3 percent follows a 0.3 percent rise in January and a 0.5 percent drop in December 2025, with household spending over the year remaining 4.6 percent higher compared to February 2025.
The RBA and the ACCC will monitor progress of the package as it is rolled out across the economy and the Australian Small Business and Family Enterprise Ombudsman will help small businesses understand changes.
According to the Department of Foreign Affairs and Trade (DFAT), the E-Commerce Agreement will streamline processes and reduce costs in contracts, invoicing, and payments.
During this period, the ATO’s compliance approach will be guided by consideration of individual circumstances and the broader operating environment.
The trade agreement is expected to lower trade and investment barriers between Australia and the European Union with 98 percent of the current value of Australia’s exports entering the European Union duty free.
In its submission, Treasury states that Australia’s long run productivity performance has shown persistent weakness and that productivity outcomes have been volatile in the 2020s, particularly during the COVID-19 pandemic.
Financial institutions advised to ‘focus on resilience’ as global financial stability risks rise; ASIC consults on registered managed investment scheme responsible entities’ NTA requirement
The RBA states that the Australian financial system has a "good degree of resilience" and that it is important that lending standards remain prudent, with regulation continuing to limit the build-up of systemic risk.
Victoria recorded the third highest economic output growth rate of any state over 2024-25, behind Western Australian and Queensland, according to the Department of Treasury and Finance’s latest mid-year financial report for the six months to 31 December 2025.
Victoria economic output grew 1.1 percent in 2024-25; ATO update: Final quarter to use late payment offset for SGC liability
12 of the 15 industries in the ABS' Business Indicators recorded CGOP rises in the period, with the largest being Other Services, Transport, Postal and Warehousing, and Professional, Scientific and Technical Service.
Federal Government to increase distribution rate for giving funds; ATO update: Registration for Pillar Two webinar on side-by-side approach now open
Total wages paid in 2025 recorded 5.7 percent annual growth: ABS
According to ASIC, between 1 July and 31 December 2025, it received 9,686 ROMs, raising 13,036 issues, which is a 28 percent increase in ROMs compared to the prior half of the year.
Treasury releases superannuation retirement income solutions best practice principles, Retirement Reporting Framework final design; US President Trump signs proclamation imposing temporary 10 percent import duty
Government response to Senate Committee recommendations on beneficial ownership disclosure bill published; Unemployment rate remains at 4.1 percent, underemployment, underutilisation rises: ABS; OECD updates key materials on Amount B pricing
Both the underemployment and underutilisation rate rose 0.2 percentage points in the month to 5.9 percent and 10 percent respectively.
WA Government to increase land tax exemption, qualifying period for BTR developments; WPI rose 0.8 percent in December quarter, driven by Healthcare, social assistance sector: ABS
While private and public sector wages both rose 0.8 percent in the quarter, on an annual basis public sector wages growth continued to outpace the private sector for the fourth consecutive quarter.
The state's General Government Sector Net Operating Deficit has decreased by $91.2 million for 2025-26 and by a total of $285.6 million over the Budget and Forward Estimates, largely driven by higher revenue outcomes.
The analysis estimates the revenue foregone by comparing realised gains under two scenarios, which are the current policy settings and a counterfactual scenario without the discount and without any associated behavioural responses.
December's household spending fell 0.4 percent following two consecutive rises in October and November, however despite the fall, household spending over the year 5 percent higher compared to the same period last year.
According to the ACT Government, the Territory’s GSP is the fastest of all states and territories, well above growth in the national economy and represents 29 years of continuous economic growth.
According to the WA Government, the new rate is meant to incentivise production of the critical mineral in the state and encourage its emerging vanadium battery industry.
The December fall in approvals for private dwellings excluding houses comes after a rise in the month before, with Victoria leading the fall in apartment approvals in the month.
AUSTRAC releases AML/CTF compliance ‘starter kits’ for small businesses; ATO update: Privately owned, wealthy group behaviours and characteristics that will attract scrutiny
The kits set out step-by-step actions small businesses can take to build their own anti-money laundering program and include practical tools to help businesses comply with the AML/CTF Act.
ASIC outlines key issues for 2026
ASIC's key issues for the year include increased retail client exposure to private credit markets, advanced technology harming consumers (including agentic AI), and regulatory gaps related to emerging financial sector participants and others on the regulatory perimeter.
December is usually the month when the bulk of new jobs generated are part-time to cover the Christmas period, however, the fact almost 55,000 of these new roles were full-time makes this figure even more significant.
All states and territories recorded a growth in business counts over 2024-25 with the largest net increase recorded in New South Wales and the largest percentage increase recorded in Western Australia.
The Outlook forecasts a deficit of $36.8 billion for 2025-26, a reduction compared with $42.2 billion expected at the 2025 Pre-Election Economic and Fiscal Outlook, with gross debt projected to peak at 37.0 percent of GDP.
Queensland’s general government sector recorded a net operating deficit for 2024-25 of $4.428 billion, a $948 million improvement over the estimated operating deficit in the 2025-26 Queensland Budget due to lower expenses.
While full-time employment fell and part-time employment rose in the month, the number of employed people rose 1.3 percent over the past 12 months, - weaker than the population growth of 2 percent in the period.
The outcome report attributed this improvement to a higher-than-expected revenue of $427 million that was partially offset by higher-than-expected expenditure of $172 million.
While the hours worked rose 0.2 percent over the September quarter, the stronger rise in secondary jobs – that are typically comprised of part-time positions – resulted in a 0.4 percent fall in hours worked per job.
The budget update forecasts real GSP to grow by 2.25 percent in 2025-26 and 2.5 percent in the financial year after, with real GSP per capita to increase in each year of the budget and forward estimates.
Despite improved forecast revenue in each jurisdiction, it has been more than offset by increases in forecast expenses to a point where the timeline for achieving a national net operating surplus is no longer in the forward estimates.
All nine spending categories recorded rises in October, with the largest being from Clothing and footwear, Furnishings and household equipment, and Hotels, cafes and restaurants.
GDP grew 0.4 percent in September quarter as investments in data centres, renewables rose: ABS
The September quarter rise matches the average quarterly growth since the end of the COVID pandemic, however GDP per capita was flat for the period as economic growth was in line with population growth.
The treasurers agreed to add new reforms to the updated National Competition Policy Federation Funding Agreement Schedule.
The largest rises in CGOP over the quarter were recorded among arts and recreation services, financial and insurance services, and electricity, gas, water and waste services.
State and territory treasurers agree to advance key reforms; Company profits stagnant, wages rise over September quarter: ABS
The move to activate the lending limit is due a “pick-up in some riskier forms of lending over recent months as interest rates have fallen” APRA has observed.
Australia's Consumer Price Index rose 3.8 percent in the 12 months to October, up from the annual rise of 3.6 percent in September, as both annual goods and services inflation recorded rises in the period.
2026-27 Pre-Budget submissions open; Australia signs tax treaty with Croatia; Issues paper on operation of 2018 GST reforms released for consultation; Victoria’s Auditor-General releases report on the state’s annual financial report
The IMF suggests "comprehensive tax reform and greater spending efficiency can maintain fiscal sustainability, enhance economic resilience and boost productivity".
The White House says the decision to remove the tariffs followed progress made in securing more reciprocal terms for US bilateral trade relationships.
Treasury releases working paper on Australian M&A transactions database; ASIC outlines enforcement priorities for 2026; Investor confidence sees number, value of new investment loans reach record high: ABS; ATO update: CbC reporting 31 December 2025 lodgement deferred to January 2026
ASIC has published its 2026 enforcement priorities with a range of new priorities that include private credit practices, financial reporting misconduct and misleading pricing.
The authors of the working paper hope that researchers will be able to analyse the economic consequences of M&A and inform policy to support a resilient, dynamic and productive private sector in Australia.
A 13.6 percent surge in new investment loans in the September quarter 2025 has seen the number of investment loans reach its highest level since the March 2022 quarter.
The indicator's manufacturing division saw a turnover rise of 7 percent, which was mainly driven by a 19.7 percent turnover rise in primary metal product manufacturing that was boosted by a rise in non-monetary gold exports.
The report addresses the fundamental questions the agency posed in its February 2025 discussion paper about the future state of Australia's markets and the risks and opportunities for productivity within them.
According to the ABS discretionary spending was flat in the month as higher spending on recreation and culture was offset by falls in air travel and accommodation.
During the surveillance period, ASIC reviewed 254 company financial reports, conducted 22 surveillances and reviewed 15 audit files at nine audit firms.
During the period, GDP per capita declined 0.3 percent with productivity declining 0.7 percent, and gross value added per hour worked declined more in the non-market sector than it did with the market sector.
Regulatory Initiatives Grid updated to reduce regulatory burden; Australia signs first tax treaty with Ukraine; Tax Ombudsman releases review into ATO’s service to tax agents; G20 Chair’s report of Washington meeting urges Pillar Two solution
Federal Government announces changes to LISTO threshold, proposed large balance superannuation tax
Only four industries recorded business turnover rises in August, which were construction, arts and recreation services, administrative and support services, and transport, postal, and warehousing.
The Government is also considering what other action needs be undertaken to ensure the regulatory system remains fit‑for‑purpose and that ASIC has the appropriate powers to better protect consumers.
The review, which provides a comprehensive assessment of the health and resilience of Australia's financial system, outlines the largest risks to financial stability as coming from abroad.
Households spent more on booking airline travel and accommodation services in the month, contributing to a 0.5 percent rise for services spending, whereas Goods spending fell 0.2 percent in the period.
Reserve Bank finds Australia well positioned to navigate global uncertainty; ATO update: EOI for Large Business Stewardship Group membership open; Travel sends household spending upwards for fourth consecutive month: ABS
When fully implemented, the Australia-UAE Comprehensive Economic Partnership Agreement will allow more than 99 percent of Australian exports to enter the UAE duty free, saving an estimated $185 million in the first year alone.
Financial advisers generally have until 1 January 2026 to meet the qualifications standard under section 921B(2) of the Corporations Act to continue providing personal advice to retail clients on relevant financial products from that date.
According to the ABS, apartments approvals fell 33.4 percent in August to the second lowest result in the past 12 months, with townhouse approvals also falling 19.1 percent in the month.
The report attributes the improvement in the 2024-25 outcome since the 2025 PEFO estimate to a combination of lower payments from across a range of programs and higher receipts from higher company tax, personal income tax, and superannuation fund tax.
Final Budget Outcome improves as strong labour market boosts tax outlook
While annual trimmed mean inflation was 2.6 percent to August 2025 (down from 2.7 percent to July 2025), CPI excluding volatile items and holiday travel rose 3.4 percent in the 12 months to August.
The bulletin features an article that looks at investment and capital deepening, which finds that Australia has experienced little capital deepening in the past decade because it tended to invest less of its national income in new capital.
Of the indicator's 13 recorded industries, electricity, gas, water and waste services recorded the highest growth in July and the largest annual rise – rising 15.8 percent and 16.2 percent respectively.
Treasurer says although not every idea presented will be agreed to, all suggestions will be given careful consideration and will inform more targeted engagement with industry and regulators to identify priority areas.
The ABS attributes July's rise to a 1.6 percent rise for services spending, which was driven by increased spending on health services, air travel, and hotel accommodation and dining out .
The unexpected boost is driven largely by consumer spending, with household consumption contributing a healthy 0.4 percent.
Private sector company profits dropped, wages rose in Q2 2025: ABS; OECD releases updated outcomes of Pillar Two transitional peer review process; United Kingdom releases new guidance manual on Pillar Two.
Of the 17 sectors in the business indicators, only three - accommodation and food services, professional, scientific and technical services, and information media and telecommunications – recorded rises in company gross operating profits in the quarter.
According to the Regional Investment Corporation, through this investment, the Government seeks to continue to provide access to concessional lending, as well as broaden its future scope.
According to the ATO, it has a range of “sophisticated methods” to uncover shadow economy activities, and it also works closely with partner agencies such as the FWO to catch those doing the wrong thing.
Australia now has more than 2.7 million businesses with Australians starting 437,150 new businesses and ending 370,500 businesses over 2024-25, which were higher than 2023 and 2024.
The program aims to help SMEs innovative ideas, investigate new R&D opportunities, refine their concepts and better position themselves for growth in Australia's critical minerals sector.
In 2023-24, spending on research and development (R&D) for artificial intelligence (AI) grew 142 percent since 2021-22, according to the Australian Bureau of Statistics’ latest data on Australia’s Business Expenditure on R&D.
Western Australia and South Australia saw the largest percentage increases at 12 percent and 7 percent respectively, with lending to the farm sector increasing in all states and territories during the period.
ASIC advises grandfathered companies to proactively review their financial reporting obligations and address any instances of non-compliance before it begins the surveillance.
WA Government opens early registration for build to rent fund; ‘Poor compliance’ prompts ASIC focus on grandfathered companies’ financial reports lodgement.
The annual growth of average weekly earnings for full-time adults in May 2025 remained high at 4.5 percent and just below the annual growth rate of 4.6 percent in the year to November 2024.
Growth in employment was driven by full-time employment, which was up by 60,000 people – the most of which were comprised of female full-time workers – with part-time employment numbers falling by 36,000 people.
Female workforce participation hits record high in July, as rising employment trims unemployment rate: ABS; ATO update: Small Business Superannuation Clearing House set to close
The June quarter rise was lower than the 0.9 percent rise in the previous quarter, and from an annual basis, the annual wage growth was unchanged from the March quarter's 3.4 percent rise as well.
Productivity Commission publishes interim report on occupational licensing, adoption of international standards; Business turnover rose in June, with rebound in arts and recreation services: ABS; and the OECD releases list of signatories to the GloBE Information Return MCAA.
Compared to the same period last year, business turnover was 2.9 percent higher with 11 of the 13 industries reporting rises over the year, the largest annual rises recorded in manufacturing and transport, postal and warehousing.
The CFR makes nine recommendations for the Federal Government and sets out nine actions for agencies involved in the review in its report, with the Government and APRA responding to the report.
The third consecutive quarter of increase in household spending volumes were indicative of a steady improvement in consumer confidence as price pressures eased over the past year.
The MOU sets out arrangements for consultation, liaison and information sharing between the two agencies, and specific arrangements for coordination in relation to macroprudential policy, liquidity support, payments policy and crisis management.
Government releases response to Senate Committee’s final report on NFP entities tax assessments; ATO update: Invitations open for forum for foreign-owned financial institutions
APRA confirms that the mortgage serviceability buffer will remain at 3 percentage points, and the countercyclical capital buffer stays at its default level of 1 percent of risk-weighted assets.
According to ASIC, its surveillance will review how the sector, comprised of around 100 licensees, complies with the law and will seek to understand the varying debt management and credit repair business models in operation.
Treasurer Jim Chalmers says that this round of invitees includes "expert voices on economic policy, leaders with broad industry and policy experience, and important perspectives from regulators, the public sector and the states".
Of the 13 industries covered in the indicator, the arts and recreation services industry had the largest fall in the month, followed by manufacturing, retail trade, and construction.
The annual review found that continuing to advocate for free and open trade and looking for opportunities to lower Australian tariffs would be the best response to changes in global trade policy.
According to the ABS, households spent more on clothing footwear, new vehicles, and dining out in the month, while non-discretionary spending rose for a fifth consecutive month.
Victoria SRO releases land transfer duty revenue rulings; ATO update: FY2022-23 taxation statistics published; Canada to repeal its digital services tax; G7 statement outlines proposed 'side-by-side' global minimum tax solution, OECD welcomes engagement
According to the report, the total tax revenue collected by the ATO for 2022–23 was $577.4 billion, 51.6 percent of which were collected from individual income tax and 24.2 percent from companies.
The bulletin also includes an article that looks at what Australians have done with this 'productivity dividend' over the past few decades and what other countries do with their productivity gains.
The NSW Government added that the measure is meant to improve the feasibility of BTR developments, as the expiry of the tax concession in 2039 is a key factor impacting investment decisions today.
The inquiry comes from ASIC and the Reserve Bank of Australia's ongoing concerns over ASX's ability to maintain stable, secure and resilient critical market infrastructure.
SRO provides update on payroll tax annual reconciliation dates, payroll tax threshold changes; ASIC announces inquiry into ASX
ASIC states that its current concerns lie with finfluencers positioning themselves as so-called trading experts, who are providing unauthorised financial product advice and promoting high-risk, complex investment products that can cause real consumer harm.
High Court grants special leave for Commissioner to appeal Bendel Division 7A case; Legislation to support Paid Parental Leave superannuation contributions registered; ASIC cracks down on unauthorised ‘finfluencers’
The ABS Monthly Business Turnover Indicator's 13-industry aggregate showed business turnover rising 0.3 percent in the month on both seasonally adjusted and trend terms.
Over the March quarter, filled jobs in the private sector fell for the first time since the September 2021 quarter and the public sector also recorded its first fall in filled jobs since the June 2022 quarter.
March quarter filled jobs fell for the first time since 2021 lockdowns: ABS
RBA's Economic Assistant Governor discusses how Australia is exposed to the broad-based tariffs from the US and retaliatory tariffs from other nations.
ASIC says it came to its conclusion after assessing 50 compliance plans used by responsible entities in the operation of a combined 1,471 funds.
The value of total buildings approved continued to rise, whereas the value of total residential building continued to fall, which the ABS attributes to an increased value of non-residential projects.
ASIC finds widespread compliance plan deficiencies amongst managed investment funds; ATO update: Due date for NFP governing documents extended to end FY2025-26; Drop in apartment approvals drive down total dwelling approved numbers in April: ABS
WA Government records higher revenue despite lower commodity royalties; Department of Home Affairs to exchange data with ATO for temporary skill visa program compliance
General government revenue for the period was $1.9 billion higher than the same period last year, despite experiencing a fall in iron ore and lithium royalties due to lower prices for the commodities.
The ATO will publish a series of emails containing tips on ABN obligations, business structures, registering for GST and understanding employer responsibilities to ABN holders.
In view of recent legislative amendments that clarify the tax residency disclosure requirements for foreign residents, ASIC has also updated its Information Sheet 284.
ASIC releases financial reporting and audit focus areas for FY2025-26; TPB reminds small tax practitioners of inclusion to new Code of Conduct obligations
The guide is aimed at informing taxpayers who are planning to start, or have recently started a new business, as well as those who are hiring their first employee, or are already an experienced employer.
New housing loans fell in March quarter as refinancing continues to increase: ABS; ATO update: New business owner’s guide to tax, superannuation, registration obligations
Despite the March quarter decline in lending, the number of new loan commitments for dwellings remain at 6 percent higher than compared to this time last year.
NT Government announces charities, non-profits red tape reduction in payroll tax; ATO update: Additional context, case citations added to Mylan Part IVA decision impact statement; US House Committee releases full list of tax provisions in proposed legislation; United States and China announce trade agreement
Compared to March 2024, 11 out of 13 industries in the indicator had higher business turnover, with the strongest annual rises seen in manufacturing and information media and telecommunications.
Commissioner of Taxation Rob Heferen has outlined the Australian Taxation Office’s debt book and who is responsible for the total tax collectable debt value.
Regulatory Guide 281 Low cost credit contracts contains information to assist low-cost credit contract providers to comply with their key obligations, including modified responsible lending obligations.
Health, housing, food drives March quarter living costs across all households types: ABS; ATO update: Work-related expenses, WFH deductions, multiple income sources
ABS Acting Head of Prices Statistics says rises in pharmaceutical products, medical and hospital services, electricity, and fruit and vegetables have contributed to higher living costs for all household types in the quarter.
After five consecutive months of rises, the Australian Bureau of Statistics' Monthly Household Spending Indicator recorded a 0.3 percent fall in household spending in March.
The small increase comes from the number of unemployed increasing by 3,000 people, despite employment increasing by 32,000 people in the month.
Federal Opposition announces small business tax incentive policy; PBO releases budget analysis on revenue forgone from negative gearing deductions, CGT discount; PBO publishes costing on proposal to remove withholding tax exemption for foreign bondholders; Unemployment rose in March despite employment increasing: ABS
The report acknowledges that since the issue of the writs, the United States tariff announcement followed by China's announcement of tariff countermeasures, has created significant economic uncertainty and exacerbates the risks to the economic and fiscal outlook.
Over the medium-term Australia's GDP is permanently lower, while the effect on inflation is temporary, however the impact of tariffs will be unevenly distributed with trade-exposed industries.
Spending on recreational and cultural activities, purchases of new vehicles and eating out contributed to a 0.3 percent rise in discretionary spending in the month, whereas spending on non-discretionary goods and services fell by 0.1 percent.
2025 Pre-election Economic and Fiscal Outlook report issued; US tariffs to result in ‘modest reduction’ of Australian output, Treasury analysis reveals; ATO update: Registration for 2023-24 R&D tax incentive activities closes 30 April; Household spending continued rise for fifth month in a row in February: ABS; US Customs and Border Protection guidance on reciprocal tariffs with 5 April effective date; US White House releases executive summary on ‘America First Trade Policy’
Australia to continue negotiating for US tariff removal, refuses reciprocal tariffs: PM; UK lists jurisdictions with qualifying income inclusion rules, domestic top-up taxes
Value of approved residential building continues to soar to all-time high: ABS; US White House announces 10 percent tariff on all countries, effective 5 April 2025; EU Commissioner outlines EC tax priorities at 2025 EU Tax Symposium
Following Treasurer Jim Chalmers' Federal Budget speech to parliament on Tuesday, the Federal Government released the 2025-26 Budget Papers.
Government to increase Help to Buy scheme income, property price caps; WA Government increases first home buyer stamp duty exemption thresholds, off-the-plan home stamp duty concessions; ATO update: Common CGT mistakes seen in Next 5,000 groups
Government outlines approach to ‘fit for purpose’ digital asset regime; Next tranche in Delivering Better Financial Outcomes reform released for consultation; ATO update: How lawyers can keep up with tax obligations; ATO update: Auditor contravention report instructions updated
According to the ABS, fewer older workers returning to work in February contributed to the fall in employment this month, with lower levels of employment in the older age groups in February 2025 compared with 2024.
ACCC funding increase will ensure "appropriate enforcement" of the remade Franchising Code, whereas the extending Unfair Contract Terms and Unfair Trading Practices protections will improve the viability of franchising.
Updated foreign investment framework guidance notes published; Government acts on unfair trading practices to small businesses, on-time payment for construction sector workers; ATO consults on draft instrument that lowers withholding rate on payments to employees of bankrupt estates
Treasury will consult on the design of protections for businesses, including on whether a principles‑based prohibition should apply and whether specific unfair trading practices should be targeted to protect small businesses.
Following recent changes to Australia's foreign investment framework, Treasury has released updated Guidance Notes to implement key foreign investment improvements and provide greater clarity to investors.
Business turnover in Australia rose 0.6 percent in January in trend terms, the sixth consecutive monthly rise which makes it the "strongest period of sustained growth" since August 2022.
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The Prime Minister adds that Australia will not be imposing reciprocal tariffs on the US as "such a course of action would only push up prices for Australian consumers".
The ATO will continue to focus on non-commercial business losses, small business CGT concessions, business income is not personal income and GST registration.
Health had the largest rise among spending categories in January as households spent more on health services, whereas the biggest monthly fall was seen in the alcoholic beverages and tobacco.
Victoria's state final demand rose by 1.4 percent over the year to September 2024 and its economy is "expected to continue to grow, partly supported by the strong labour market and a rise in real household incomes".
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The rise reflected greater food-related spending in both cafes, restaurants and takeaway food services (+1.1 percent) and food retailing (+0.7 percent).
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The state's total public sector net debt reached $31.5 billion at 31 December 2024, relative to a full-year forecast (at 30 June 2025) of $33.8 billion.
The Government says the proposed changes would result in an estimated $70 million decrease of tax receipts over five years from 2024-25.
Changes introduced include a reference that an applicant may have a right to seek review of ASIC's decision to the ART along with references to relevant content to consider when making a request for a no-action letter.
To "enforce the ban and enhance screening of foreign investment proposals relating to residential property" the ATO will be bolstering its foreign investment compliance team.
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The president's proclamation introduces various reforms, including eliminating alternative agreements, expanding tariffs to include key downstream products, and terminating general approved exclusions.
ABS said that the December rise puts the industry's turnover index only 3.6 points short of its August 2022 record high.
While growth in Employee households’ living costs has also slowed in the quarter, these households continued to see higher rises than others as they are more impacted by mortgage interest charges.
December's growth in household spending was driven by "new vehicle purchases, dining out, air travel, and streaming services".
The continuous promotional activity in the December 2024 quarter also saw retail sales volume rise for a second straight quarter.
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ASIC advises small business owners to take practical steps to protect their interests such as maintaining financial records to track the health of the business.
According to ASIC, these issues have the potential to "impact the safety, integrity and trust of Australia's financial system".
Many mining subdivisions recorded rises with the most prominent being the oil and gas extraction mining subdivision rising 9.5 percent in the month and metal ore mining up 6 percent.
Mining drove November business turnover rise: ABS
The 2024-25 MYFER states that the 2023-24 growth was driven by a substantial rebound in net exports and continued growth in the domestic economy however the 2024-25 forecast is lower due to weaker private demand and a smaller contribution from the trade sector.
The Government says the $2 billion investment will deliver "support for every tonne of clean, reliable Australian-made aluminium [the smelters] make over a period of 10 years".
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Gazette notice registered on DEWR’s STP data-matching program with ATO; AUSTRAC issues consultation paper on new anti-money laundering rules; European Commission publishes final public country-by-country reporting forms
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Turnover for businesses in the electricity supply subdivision fell 9.9 percent in the month as lower average prices coincided with abundant renewable energy supply.
Remade Franchising Code of Conduct to commence 1 April 2025; ATO update: Changes to indexation rates of study and training loans
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The updated policy specifications is based on the approach outlined in its 2022 consultation into a Public Beneficial Ownership register, the feedback that consultation received, and findings from the privacy impact assessment.
In the fact sheet, the ABS summarised the key developments in the Australian economy from the September quarter Australian National Accounts data.
According to the ABS, the "stronger than usual" turnover in October was due to "some retailers enticing buyers to spend early with discounting, particularly on discretionary items".
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According to Treasurer Jim Chalmers, the NCP reforms will be focused on easing the cost of living and regulatory burdens to benefit Australian consumers, workers, and businesses.
The WA State Government says through its Lithium Industry Support Program, Government Trading Enterprises will temporarily waive government fees to support the continuation of downstream processing of lithium.
The consultations on some of these regulatory guides will consider recent law reform, insights from case law about the provisions, and other relevant issues.
Victoria annual financial report 2023-24 published
September's growth reflects the combined effects of a range of factors, such as underlying wage growth, variations in hours worked, periodic and one-off payments like bonuses and backpay, and employment growth.
The Government explains that winding down Australia cheques system will allow the benefits of "cheaper, faster, more efficient, and secure digital payments to be fully realised".
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On a seasonally adjusted basis, annual public sector wage growth in the September 2024 quarter was higher than private sector growth for the first time since December quarter 2020.
Royalty receipts for the 2023-24 financial year totalled $422.5 million, 11 percent higher than FY2023's revenue.
Despite eight of the 13 recorded industries recording business turnover rises in September, the 13-industry aggregate only rose 0.2 per cent in seasonally adjusted terms.
The value of owner-occupier loans rose (up 0.1 percent) in the month, with new investor loans falling 1 percent and owner-occupier first home buyer loans falling 3.3 percent.
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The Australian Securities and Investments Commission (ASIC) has released an updated regulatory guidance regarding the resignation, removal, and replacement of auditors.
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Victoria’s revenue office publishes rulings on primary production land preparation, abolition of business insurance duty; NSW Government announces critical mineral royalty deferral scheme
The ATO says that building and construction, cafes and restaurants, and hairdressing and beauty services topped the list of industries that it received tip-offs from in the 2023-24 period.
Compared to August 2023, turnover was higher for all 13 industries included in the indicator except for mining, which fell 5.9 percent.
Fall in Mining business turnover results in lower August business turnover aggregate: ABS
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Following consultation, the Government has announced that there will be general notification thresholds that apply, in conjunction with additional targeted notification requirements that capture other high-risk acquisitions.
The flat result in August followed revised falls of 0.5 percent in July and 0.1 percent in June, and in trend terms, spending fell for the second consecutive month by 0.1 percent.
Public infrastructure projects and the increased private investment in machinery and equipment to cater to those projects were highlighted in the report as major contributors to increase in final demand.
According to ABS, August 2024 was the warmest August on record since 1910, which led to more spending on items that were "typically purchased in spring".
Assistant Treasurer Stephen Jones says the exemption allows small businesses to access loans or credit without being assessed against the RLO, so long as there is "a genuine business purpose".
The report notes that that while overall productivity performance has reverted to pre-pandemic levels, the macroeconomic environment is different from five years ago.
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Even though the number of job vacancies has fallen over the past two years, the ABS has found that vacancy numbers remain 45.1 per cent higher than before the COVID-19 pandemic.
ASIC says that there will be a period of transition as organisations develop the capabilities required to comply and that it will take a "proportional and pragmatic" approach to supervision and enforcement.
Most industries recorded rises in business turnover in the month with transport, postal and warehousing industry having the largest rise, followed by professional, scientific and technical services.
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ABS said that investor loans have increased more than a third in value since July 2023, bringing it close to January 2022's record high.
The rise in the month was led by higher spending on services such as transport and health services, whereas goods spending was relatively subdued - only rising 0.1 percent.
July’s household spending rises; non-discretionary spending outpaces discretionary spending: ABS
The previous two months’ retail turnover were "boosted by mid-year sales activity" and that the higher level of turnover from there was maintained in July.
Rise in logistics businesses moves number of Australian businesses upwards: ABS
According to the ABS' Counts of Australian Businesses, 16 out of the 19 recorded industries recorded an increase in the number of businesses in 2023-24.
ASIC outlines its 2023-24 greenwashing misconduct interventions
The ASIC report outlines its interventions between 1 April 2023 and 30 June 2024 and provided key recommendations.
Focus on Australia's public and private markets and emerging financial products will form a new pillar of ASIC's expanded strategic priorities.
The Government accepted the primary recommendations of the independent review, which made recommendations in relation to two primary matters in the 2021 amendments.
Fewer than one in ten liquidators adopted simplified liquidation process: ASIC report; Living cost increase across all household types outpaces CPI for the first time in a decade: ABS
Despite an increase in insolvencies between 2021 and 2023, of the 4,867 creditors’ voluntary liquidations commenced, only 82 adopted the new simplified liquidation process.
Higher premiums for motor vehicle, house and home contents insurance, and higher fruit and vegetable prices reflecting unfavourable growing conditions, also impacted living costs for all household types.
According to the ABS, the total number of dwellings approved over the past 12 months (162,892) is the lowest on a financial year basis since 2011-12.
