The 2022-23 Australian Budget – a “magic election pudding” of more spending and lower deficits | AMP Capital

The 2022-23 Australian Budget – a “magic election pudding” of more spending and lower deficits Key Points A budget windfall has allowed both more spending and lower budget deficits, with the 2022-23 budget deficit expected to be $80bn (down from $99bn in December). Key measures include “cost of living” payments, a temporary cut to fuel excise, more spending on infrastructure & defence & more help for home buyers. Relying mainly on nominal economic growth to …

Market Update 12 November | AMP Capital

Market Update 12 November Investment markets & key developments Share markets were hit again over the past week as more high inflation readings added to concernsabout monetary tightening. This left US and European shares down for the week and Japanese shares little changed. Chinese shares bucked the trend and rose. While falls in US shares weighed on the Australian share market mid-week a strong rise on Friday left it little changed for the week with strong …

Navigating your tax return for 2021 | Money & Life

Navigating your tax return for 2021 Do you want to get more from your tax return this financial year, but you’re not sure where to start? It could be as simple as knowing which tax deductions and offsets you’re eligible for. With the end of financial year fast approaching, you might be hoping to claw back some of your hard earned cash when you lodge your tax return this year. The Australian Taxation Office refunds billions …

Market Update 26 March 2021 | AMP Capital

  Market Update 26 March 2021 Investment markets and key developments over the past week Market sentiment was more cautious this week on concern about the economic reopening from rising COVID-19 cases and vaccine delays. Seasonal impacts affect sharemarkets as well and quarter-end profit taking may also be contributing to sharemarket weakness. US shares on the S&P500 were just negative over the week at -0.1% while the heavier tech NASDAQ index was down by 1.8%. NASDAQ …

RBA concerns underline mid-to-long term risks for the housing market

RBA concerns underline mid-to-long term risks for the housing market One of the more interesting snippets of information to come out of the minutes of the February meeting of the Reserve Bank Board was an acknowledgement by members of the risks generated by a low-rate environment and, in particular, those “linked to higher leverage and asset prices, particularly in the housing market”. They weren’t concerned enough to detour from their stimulus program, but the RBA …

How to protect your finances from cybercrime

  How to protect your finances from cybercrime Cybercrime rose sharply in 2020, as more people worked, shopped and socialised online due to the COVID-19 pandemic. Anyone can be a target, so it’s essential to be proactive when it comes to protecting your finances and identity online. Our digital tools and technology were a welcome relief last year, allowing us to stay connected through successive lockdowns and social distancing measures. But with the sudden and …

Econosights: The importance of domestic tourism for the Australian economy

Econosights: The importance of domestic tourism for the Australian economy   Key points Domestic tourism is worth more to the Australian economy (at over 4% of GDP) compared to how much international tourists bring into Australia (at 1.3%). And, Australian spending on overseas trips is worth twice the value of international tourist spending within Australia. So, there is potential to offset the loss of activity from international tourism (especially if the borders stay closed through …

How to have a happier new year

How to have a happier new year What’s the key to lasting happiness? If you think that having more money, a better job or more stuff will make you happier, you’d be wrong, according to science. Take a look at the latest research and follow our tips to change your spending habits and boost your happiness in 2021. After living through a year when our collective mental health took a beating, the new year has brought …

Tips for parents who became the bank of mum and dad this year

Tips for parents who became the bank of mum and dad this year Aussie parents have coughed up more than $26 million to help their adult kids since COVID-19 hit our shores – and one in five is at financial risk from doing so. Parents helping their adult kids financially isn’t an unfamiliar concept in this country, but figures reveal mums and dads have forked out approximately $26.8 million since the outbreak of COVID-19 in …

How to enjoy a credit-free COVID Christmas

How to enjoy a credit-free COVID Christmas! After the year we’ve had, Australians may be more tempted to rely on debt to meet their holiday obligations. But there are other ways to get through the festive season without breaking the bank… At the best of times, Christmas can put a pretty severe strain on our hip pockets. And let’s face it, this isn’t the best of times. You don’t have to have lived through Melbourne’s …