Cost-of-living pressures have helped supermarket giant Coles to a 4.8 per cent profit boost, but organised crime is increasingly threatening its bottom line. The company on Tuesday reported supermarket sales revenue for the last financial year grew by 6.1 per cent, with cash profit rising to $1.1 billion from $1.05 billion the previous year. Customers … Read more
Soccer star Sam Kerr earned an eye-watering $3.3 million last year thanks to her football salary and major sports brand endorsements. The Matildas skipper, who holds Australia’s all-time goal-scoring record, captured the hearts of the nation in the 2023 FIFA Women’s World Cup after leading Australia to fourth place. Kerr was among the highest-paid players … Read more
Millions of Australian graduates have been notified that HECS/HELP debt repayment rates have risen. The threshold for the 2023-24 financial year has been raised, the Australian Taxation Office told former students in an email. Last financial year, those earning more than $48,361 had to make compulsory payments. However, this year, graduates who earn $51,550 or … Read more
The amount of money Aussies will need to retire to maintain their living standards has increased by as much as 8 per cent. According to the latest figures from Super Consumers Australia, an independent organisation that has partnered with CHOICE, its revised retirement targets reflect cost of living increases and higher rates of the Age … Read more
Australian Treasurer Jim Chalmers has hinted the Federal Government could introduce an electric vehicle (EV) tax in the coming years to recoup lost fuel excise revenue as people move away from petrol- and diesel-powered vehicles. At the National Press Club of Australia, Dr Chalmers spoke about the mooted tax, without giving specifics on how it … Read more
The Australian jobs which underwent the biggest advertised pay increases last year have been revealed. According to data by Seek, which analyses the growth of advertised salaries for various roles, many common jobs saw decent increases in 2023. But the highest increase in advertised pay in Australia went to those in the insurance and superannuation … Read more
Federal politicians are set to get their largest pay rise in a decade under a new decision by the Remuneration Tribunal. All federal representatives will get a four per cent increase to their wages, set to come into effect across the board from September 1. It is the largest increase the tribunal has decided on … Read more
Almost 100 superannuation funds have failed a performance test set by Australia’s industry regulator and which assesses earnings and fees. Members of 96 trustee-directed superannuation products will be contacted in coming weeks after their funds fell short in the expanded Your Future, Your Super performance test imposed by the Australian Prudential Regulation Authority (APRA). The … Read more
Consumer confidence has recovered some lost ground but remains deeply in negative territory. The index collated by ANZ and Roy Morgan last week gained 2.3 points to hit 78.1, with the robust labour market and possibility of an extended pause on interest rates potentially feeding into the more upbeat reading. But the gauge remains well … Read more
Millions of Australians receiving government payments will have their benefits increase in the coming weeks, as the nation deals with a mounting cost-of-living crisis. The rise is part of the twice-yearly indexation of welfare payments, designed to keep payments in line with the rising cost of living. From September 20, welfare recipients are in line … Read more
