ACCC receives additional responsibilities in budget
The ACCC has welcomed the Federal Government’s announcement of new work for the ACCC in scams, childcare, water trading and an extension of the ACCC’s gas inquiry role.
One billion dollars for Australia’s first disaster ready fund
The Albanese Government’s commitment to better invest in disaster risk reduction is underscored by the flagship Disaster Ready Fund.
Consumer Price Index, Australia
Key statistics
The Consumer Price Index (CPI) rose 1.8% this quarter.
Over the twelve months to the September 2022 quarter, the CPI rose 7.3%.
The most significant price rises were New dwelling purchases by owner-occupiers (+3.7%), Gas and other household fuels (+10.9%) and Furniture (+6.6%).
ANZ penalised $25 million for misleading customers and failing to provide promised account benefits
The Federal Court has ordered Australia and New Zealand Banking Group Limited (ANZ) pay a $25 million penalty for failing to provide certain benefits it had agreed to give customers with offset transaction accounts or under a ‘Breakfree’ package.
ASIC appeals Commonwealth Bank and Colonial First State conflicted remuneration decision
ASIC has appealed the Federal Court’s decision to dismiss ASIC’s proceedings alleging that Colonial First State Investments Limited (Colonial) and Commonwealth Bank of Australia (CBA) breached conflicted remuneration laws.
Landmark funding to help reduce insurance costs
An Albanese Government initiative to help reduce the cost of insurance in communities at risk of natural disasters, will enhance mitigation measures and drive better outcomes for insurance holders.
Support for flood-affected farmers
Information about the south-eastern floods and assistance can be found at the National Emergency Management Authority (NEMA) website.
Tax avoidance crackdown to net $4.7b
A crackdown on tax avoidance by working Australians, small business and multinational firms will net the federal budget an extra $4.7 billion over four years.
A long way to go before gender norms are dismantled
Expanding the paid parental leave scheme to 26 weeks from 20 weeks by mid-2026 will eventually come with a price tag of $619 million a year.
Australia’s small business sector has welcomed new federal budget measures designed to alleviate the skills crisis, but a lack of direct cost-of-living support remains a concern for the hospitality sector.
Business and industry groups welcome no-frills budget but not much in for small business
Business and industry groups welcomed the no-frills budget delivered on Tuesday night (25 October) by Treasurer Jim Chalmers but also warned there are tough times ahead for small business.
ACT government publishes its draft Circular Economy Strategy
Food businesses will be required to divert food waste from landfill and encouraged to reduce their overall waste, as part of the ACT’s Circular Economy Strategy.
Tech industry pleased about skills, worried about cyber
The Albanese government’s commitment to decarbonise the economy and focus on critical growth sectors has sparked widespread approval from tech industry executives and investors, but many worry about poor investment in comprehensive national cybersecurity.
