The budget deficit is projected to hit $213.6 billion, a record 11% of GDP, before winding back: Instead of falling, as predicted in the last budget, debt will climb: There’s spending and tax cuts a plenty: It’s expected to bring about a bounce-back in economic growth: But much depends on the assumptions, including a return… Read more »
Tax cuts aren’t the half of it. The personal income tax cuts promised in the budget will cost A$17.8 billion over four years. The measures aimed at supporting businesses – the temporary instant tax write off of capital investments, the temporary ability to use losses to reduce previous tax payments, the JobMaker hiring credit and… Read more »
Accelerated tax cuts, cash splashes for pensioners, massive incentives for business to invest and a subsidy to hire unemployed people are the centrepieces of the Morrison government’s COVID-19 budget. More than 11 million taxpayers will get a tax cut backdated to July 1, giving lower and middle-income earners tax relief this financial year of up… Read more »
Facebook Messenger and Instagram’s direct messaging services will be integrated into one system, Facebook has announced. The merge will allow shared messaging across both platforms, as well as video calls and the use of a range of tools drawn from both platforms. It’s currently being rolled out across countries on an opt-in basis, but hasn’t… Read more »
Not many stories can compete with the run up to a federal budget, especially one with a deficit like none of us has ever seen, income tax cuts, and much else besides. But Donald Trump’s COVID infection certainly has done so in the last few days, especially given the official lying surrounding it and the… Read more »
Over the next few years, science and technology will have a vital role in supporting Australia’s economy as it strives to recover from the coronavirus pandemic. At Australia’s national science agency, CSIRO, we’ve identified opportunities that can help businesses drive economic recovery. We examined how the pandemic has created or intensified opportunities for economic growth… Read more »
Victorian Premier Daniel Andrews has announced an end to the curfew and a COVID-safe return to work for 127,000 Melburnians, as restrictions were eased at midnight Sunday night. He has also flagged a provisional early lifting of many other aspects of the lockdown on October 19. The downward trend in new COVID-19 cases has been… Read more »
Facebook has announced the latest version of its successful standalone virtual reality (VR) headset, the Oculus Quest 2. The new device packs more computing power and a sharper screen than its predecessor, and is also US$100 cheaper. Facebook’s Oculus Quest 2 (from AUD$479) is a powerful wireless VR headset for gaming and, Facebook hopes, much… Read more »
The Morrison government will make sweeping changes to the insolvency system to improve the chances of saving small businesses hit by the pandemic. The reforms – which are described as the most significant for three decades – will cover three quarters of businesses currently subject to insolvency, almost all of which have less than 20… Read more »
The Morrison government will tell its refocused clean energy agencies and the clean energy regulator to give priority to investment in five low emissions technologies and report how they are accelerating them. The technologies are clean hydrogen, energy storage, low carbon steel and aluminium, carbon capture and storage, and soil carbon. The government last week… Read more »
The Morrison government today announced A$1.9 billion over ten years to develop clean technology in industry, agriculture and transport. In some ways it’s a step in the right direction, but a far cry from what’s needed to drive Australia’s shift to a low emissions economy. The big change involves what the money is for. The… Read more »
National security is like sausage-making. We might enjoy the tasty product, but want to look away from the manufacturing. Recent news that Chinese company Zhenhua Data is profiling more than 35,000 Australians isn’t a surprise to people with an interest in privacy, security and social networks. We need to think critically about this, knowing we… Read more »
A disturbing video purporting to show a suicide is reportedly doing the rounds on the popular short video app TikTok, reigniting debate about what social media platforms are doing to limit circulation of troubling material. According to media reports, the video first showed up on Facebook in late August but has been re-uploaded and shared… Read more »
Victorian Premier Dan Andrews and Chief Health Officer Brett Sutton on Sunday announced steps to slowly ease COVID-19 restrictions in metropolitan Melbourne and regional Victoria. There are four steps before Victoria totally opens up – a goal Andrews refers to as “COVID-normal”. Melburnians will have to wait a bit longer than regional Victorians before an… Read more »
The Victorian government today announced the eagerly anticipated roadmap out of COVID-19 lockdown. It features several steps that reflect a much slower relaxing of restrictions than last time around. While the government has provided a provisional time frame for the various steps, it is data, not dates, that will determine when restrictions are actually eased.… Read more »
Daily startup news and insights, delivered to your inbox.
