Treasurer Jim Chalmers promised a Tax Expenditures Statement by the end of February – and he delivered it last week, just in time, on Tuesday, February 28. The statement contains many headline-grabbing figures about the cost of various tax breaks, including claims made against income from rental properties (A$24.4 billion), the concessional or zero tax…
Australia has recovered better than most from the COVID pandemic. As measured by gross domestic product (GDP), the economy is now 7% larger than it was before the pandemic. Over 2022, the economy expanded by 2.7% – more than any of the seven largest advanced economies, and more than twice the average growth rate in…
The tax rate on earnings from superannuation balances above $3 million will double to 30% from 2025-26. The pre-budget decision – approved by the government’s expenditure review committee on Monday and ticked by the cabinet on Tuesday morning – cuts off what was becoming a potentially damaging debate for the government. The timing of its…
Soaring electricity prices have made 15% of Aussies think about installing solar panels, a recent survey found. Another 6% were already weighing up the move, on top of the 28% who had panels. With costs falling, the average system size is growing rapidly. Households now typically install 8-10kW solar systems, often with a battery –…
It’s a tough time for central bankers the world over, but especially for Reserve Bank of Australia governor Philip Lowe. Having forecast during the COVID recession that Australia’s central bank wouldn’t raise interest rates before 2024, he’s taking a lot of stick for nine consecutive rate rises since May 2022. This has taken the cash…
The profile of risks facing the world is evolving constantly. Events like last year’s invasion of Ukraine can send shockwaves through the system, radically shifting perceptions of what the biggest risks facing humanity are. Today’s graphic summarizes findings from the Global Risks Report, an annual publication produced by the World Economic Forum (WEF). It provides an…
Our global population is getting older. By 2050, the OECD predicts that 30% of people worldwide will be aged 65 or over. While some countries are relatively prepared to handle this increase in the elderly demographic, others are already feeling the squeeze and struggling with the challenges that come with a rapidly aging population. Which countries are the best…
![Cybercrimes expected to skyrocket until 2027 [Infographic]](https://cdn.propertyupdate.com.au/wp-content/uploads/2022/11/pexels-sora-shimazaki-5935794-270x200.jpg)
We still don’t have an end to cybercrime attacks. In fact, according to estimates from Statista’s Cybersecurity Outlook, the global cost of cybercrime is expected to surge in the next five years, rising from $8.44 trillion in 2022 to $23.84 trillion by 2027. Cybercrime is defined by Cyber Crime Magazine as: “the damage and destruction…
![The World’s Richest Billionaires Over the Past 10 Years [Infographic]](https://cdn.propertyupdate.com.au/wp-content/uploads/2020/08/wealthy-people-270x200.jpg)
The last decade has seen a number of changes in the world’s richest billionaires list. For one, there are new faces at the top of the leaderboard that was never there before. One of the most obvious changes though is that the richest billionaires have accumulated a lot more wealth in recent years. Using annual…
3 Australian cities recently were found to offer the highest quality of life. Now city living isn’t everyone’s cup of tea—the world’s most populous cities can be hectic, noisy, and busy. Yet, despite the chaos of urban life, cities offer inhabitants a number of comforts and conveniences that are harder to find in smaller towns….
