వార్తలు

వార్తలు

The Australian and Victorian Governments have announced an $877 million Recovery Support package, supporting businesses, farmers, and not-for-profits to rebuild and return to trade as quickly as possible, following the recent devastating floods. Grants of up to $50,000 are available to eligible businesses and not-for-profit organisations to support recovery efforts including rebuilding damaged infrastructure and replacing damaged assets. To help businesses navigate through the recovery period, more than $22 million has been made available for support services to facilitate the development of recovery plans, provide mental health support and assist in grant applications. In addition, Business Chamber and Trader Groups Programs will be established to enable locally led solutions for business activation. Recovery grants of up to $200,000 will also be available for medium and la.....
With no new individual tax measures announced, the focus of this Budget is on providing support to working parents and continued monitoring of individual tax compliance. Personal income tax rates Despite some conjecture in recent weeks, this Budget has not sought to defer 'Stage 3' tax cuts, originally announced in 2018. From 1 July 2024, the 37 percent bracket will be removed entirely, and the 32.5 percent bracket will be reduced to 30 percent. In addition, the threshold above which the top marginal rate of 45 percent applies will increase from $180,000 to $200,000. Taxable income Current tax rates Up to $18,200 0 $18,201 - $45,000 19 percent $45,001 - $120,000 32.5 percent $120,001 - $180,000 37 percent From $180,001 45 percent.....
The Albanese Government announces the National Housing Accord, a landmark agreement to address one of our nation’s biggest economic challenges: the supply and affordability of housing. It will align for the first time the efforts of all levels of government, institutional investors and the construction sector to help tackle the nation’s housing problem. Our shared ambition is to build one million new well-located homes over five years from 2024. The Accord recognises most of this supply needs to come from the market with government playing a key role in enabling and kick-starting investment. We want more Australians to know the security of decent housing and more Australians realising the aspiration of home ownership. It’s more important than ever that we work together to ensure there is an adequate supply of affordable housing where it is needed – close to jobs, t.....
Rishi Sunak, who is set to be Britain's first Indian-origin prime minister, recently said that he wants to change the UK-India relationship to make it a more two-way exchange that opens up easy access to UK students and companies in India. Addressing a gathering of British Indian Conservative Party members in August, the 42-year-old UK-born Indian-origin Tory MP for Richmond in Yorkshire vowed to get the country through the “difficult times” of inflation and build a better, safer Britain. A majority in the cheering crowd were categorical that Mr Sunak's Indian heritage and ethnic minority background had no part to play in the contest to become British Prime Minister. During an event hosted by the Conservative Friends of India (CFIN) diaspora organisation in north London, the former Chancellor greeted the gathering with a mix of traditional greetings such as “namaste, sal.....
US President Joe Biden and First Lady Dr Jill Biden on Monday hosted a Diwali reception at the White House in what they called the largest since the People's House started celebrating the festival during the George Bush administration. More than 200 eminent Indian Americans attended the reception at the East Room, a venue that has witnessed some of the landmark events related to the India-US relationship, including the signing of the nuclear deal and the joint press conference by then US President Barack Obama and Indian Prime Minister Manmohan Singh in November 2008. The reception saw some enthralling cultural events, including performances by sitarist Rishab Sharma and dance troupe The Sa Dance Company. The guests, dressed in traditional Indian attires such as saree, lehenga and sherwani, relished some mouthwatering Indian delicacies. The room is full at the East state dinin.....
The October Budget will deliver on the Albanese Labor Government pledge to jointly fund a world-class Aboriginal Cultural Centre for Western Australia. The Commonwealth is partnering with and matching the McGowan Labor Government’s commitment to this important project with each Government contributing $50 million after jointly funding the feasibility study. A Terrace Road site as the preferred location has been chosen primarily for its connection to the Swan River (Derbarl Yerrigan), Heirisson Island (Matta Gerup) and Kings Park (Katta Koomba), all places of cultural significance to the Noongar people. Planning for the project with extensive engagement is underway with Aboriginal people and communities across WA, under a Cultural Authority Framework. This Framework is embedding Aboriginal-led community engagement and cultural decision-making processes in the development and.....
The Albanese Government’s Rewiring the Nation plan will fast-track Victorian Renewable Energy Zones (REZ) and offshore wind development to create new energy jobs across Victoria, Tasmanian projects to unlock cleaner, cheaper and more secure energy and put downward pressure on prices. The Commonwealth and Victoria have today signed an agreement to jointly fund Victorian offshore wind projects, REZs, and the Victoria-New South Wales Interconnector (VNI West) KerangLink. The Commonwealth, Victoria and Tasmania have also signed agreements on the Marinus Link interconnector. The agreement between Victoria and the Commonwealth sets out: $1.5 billion of concessional financing from Rewiring the Nation available for REZ projects in Victoria, including offshore wind projects; A commitment to coordinate Victorian and Commonwealth regulatory processes to support the rapid development.....
Australia and Singapore have signed a first-of-its-kind Green Economy Agreement (GEA). The landmark bilateral agreement between Australia and Singapore—our largest two-way trading partner in Southeast Asia—will support Australian businesses to seize economic opportunities presented by the global clean energy transformation. The GEA builds on existing cooperation between Australia and Singapore to take action on climate change and strengthen trade and investment in clean energy across our region. “This world-first agreement establishes a framework under which our countries can advance work on the clean energy transformation and support businesses and industry," said Prime Minister Albanese. “This is a model that will support both Australia and Singapore, and partners in our region to seize the economic opportunities of the global transition to net zero,” he further add.....
Australian banks welcome the Federal Government’s decision to allow Optus to share government identity information compromised in the Optus data breach. Banks will be able to request and use the information in their ongoing efforts to fight financial crime. Since the Optus data breach became public, banks have focused on the potential for the data to be used to perpetuate frauds, scams and other illegal activities. “The whole industry has worked closely with the Australian Government to make today’s regulations possible.” ABA Chair & CEO Westpac, Peter King The Federal Government’s action is a timely and valuable measure that will contribute to banks’ efforts. Banks invest heavily in systems to protect customers and the financial system, including significant investment towards building resilience including against frauds and scams. Chair of the Australian Ba.....
The sixth consecutive lift in the cash rate occurred amid ongoing inflationary conditions and a tight labour market. While the unemployment rate ticked slightly higher in August to 3.5%, the slowdown in employment growth may represent capacity constraints to further employment, which could drive wages growth. Retail spending continued to rise another 0.6% through August, albeit a lower monthly growth rate than in July. A new monthly measure of Australian CPI showed annual inflation easing slightly through August, down 20 basis points to 6.8%. While the monthly decline is promising, this new measure has not yet been seasonally adjusted and may not have factored into the board’s decision. Additionally, international economic conditions may also create added pressure for the RBA to continue to raise rates, as the US Federal Reserve lifted its policy rate target 75 basis points in Septembe.....
Reserve Bank of Australia decided to increase the cash rate target by 25 basis points to 2.60 per cent. It also increased the interest rate on Exchange Settlement balances by 25 basis points to 2.50 per cent. The Board is committed to returning inflation to the 2–3 per cent range over time. Today’s increase in interest rates will help achieve this goal and further increases are likely to be required over the period ahead. The cash rate has been increased substantially in a short period of time. Reflecting this, the Board decided to increase the cash rate by 25 basis points this month as it assesses the outlook for inflation and economic growth in Australia. As is the case in most countries, inflation in Australia is too high. Global factors explain much of this high inflation, but strong domestic demand relative to the ability of the economy to meet that demand is also playing .....
Australia Post is continuing to broaden its telecommunications offering with the launch of its first home internet service using the NBN Co network, Australia Post Broadband, providing customers with more choice when selecting an internet service for their home. Available to purchase in participating Post Offices and online, for use in nbnTM serviceable locations, Australia Post Broadband includes eight different month-to-month plan options, with no lock-in contracts, providing customers with added peace of mind when selecting their plan. Australia Post Broadband will start at $54/month with unlimited data and features plans with several download speed options to cater to varying data needs, whether using the service for light web browsing or streaming the latest binge-worthy content in 4K[1]. Customers that switch to Australia Post Broadband by 9 January 2023 will also receive an .....