Australia breaks GDP record
Australia has broken the record for the longest run of uninterrupted growth in the developed world, figures released by the Australian Bureau of Statistics have revealed.
The Economy
Australia stumbles to economic record as cautious Reserve Bank leaves rates on hold
Treasurer Scott Morrison has warned the economy's future is not yet secure as Australia prepares to stumble across the line on Wednesday to grab the world record for the longest period of consecutive growth.
Don’t fret the GDP score – watch the game instead
It looks like déjà vu all over again for Scott Morrison as he fears another weak gross domestic product figure on Wednesday.
RBA keeps interest rates on hold at historic low of 1.5%
The Reserve Bank of Australia has left the cash rate at a record low 1.5 per cent for the 10th consecutive month.
Review of ATO people, processes 'inevitable': Noroozi
A review into the people and processes of the ATO following the alleged abuse of position by one of its highest ranking officers is "inevitable", Inspector-General of Taxation Ali Noroozi says.
Lowest current account deficit since 2001, still disappoints
Australia's current account deficit narrowed to its smallest in more than 15 years last quarter courtesy of surging prices for its major resource exports, providing a bulwark for the country's endangered triple-A credit rating.
'Spike in stress': Australians curb spending as debt balloons
There are clear signs that the consumers who have driven much of Australia's growth are running out of puff.
Ending secret identities the 'new frontier' in fighting tax evasion
Revealing the secret identifies behind shell companies and opaque trusts is the "new frontier" in fighting tax evasion, says the OECD's head of tax Pascal Saint-Amans.
Company profits up 40 per cent, wages barely at all
Company profits grow 40 per cent while wages grow 0.9 per cent
Seven out of 10 Australians believe kids will be worse off
Australians are some of the most pessimistic in the world, with seven out of 10 believing their kids will end up worse off than they are.
Job ads rise for third straight month
Job advertisements rose for a third straight month in May, a promising sign for continued labour demand even as official figures on employment remain patchy.
RBA becomes a lonely rate-cut candidate
Market bets on an interest-rate cut by the end of this year have doubled in the past month.
Trade, manufacturing to boost global growth: World Bank
The World Bank has maintained its forecast that global growth will improve to 2.7 per cent this year, citing a pick-up in manufacturing and trade, improved market confidence and a recovery in commodity prices.
When profits eat wages we all pay the price
It's too early to be sure, but not too early to suspect that, if we and the other developed economies keep travelling the way we are, conventional wisdom about what constitutes good economic policy may soon need to be turned on its head.
The one thing treasurers must not do
No-one ever got rewarded for putting the economy into recession.
Call to limit cash transactions from Black Economy Taskforce
We won't go cashless, but we could see limits and restrictions on cash transactions, says Black Economy Taskforce chairman Michael Andrew.
Parents have to stop telling girls they don't get maths
How do you battle perceptions that girls are bad at maths and science when the people telling you that may be your family?
Are the wheels really falling off Australia's economy?
There's nothing like losses to focus an investor's mind.
How Treasury spends billions without hitting key deficit
One of the most significant, but least remarked upon, features of this year's budget is Malcolm Turnbull's decision to greatly expand the government's involvement in the construction of public infrastructure.
Property market scaremongers need to pipe down
There's nothing like a prominent visiting economist spruiking imminent ruination to get plenty of media attention.
Morrison sounds warning over growth as GDP forecasts turn negative
The Treasurer has begun preparing the ground for weak or negative economic growth in the March quarter.
No Australia, McDonald's would not like tax with that
McDonald's is considering whether it will need to restructure its operations to avoid getting hit by Diverted Profits Tax.
Jobless rate remains high as more women look for work
Unemployed draftsman Michael Dempsey wants a piece of the multibillion-dollar infrastructure boom that's happening around him, and he's making himself impossible to ignore.
'Perfect storm': House prices fall for first time in 18 months
Australian house prices fell in May for the first time in 18 months, in an early sign lending restrictions are starting to damp demand.
Retail spending rebounds sharply to $25.9b
Australian retail spending rose 1 per cent in April, beating market expectations of a modest rise.
Australia must fix its 'spectacular housing bubble', Citi warns
Australia is experiencing a "spectacular housing bubble", which needs to be addressed with tougher regulatory measures, said Willem Buiter, Citigroup's chief economist.
Man up, Malcolm, fill the budget's other big black hole
The obvious major missing ingredient in Scott Morrison's 'backflip' budget was the lack of actual tax reform - but there is another glaring black hole. Turnbull's leadership remains weak as long as he's unable to convince his backbenchers that it's OK to come out from under the lump of coal now, that we can move on from Abbott's whatever-it-takes.
End of housing boom set to hit blue collar jobs
The apparent end of the housing boom looks set to hit the employment market, with analysts betting the number blue-collar jobs being advertised will soon drop off.
Three charts that show how unhappy Aussie consumers are
Sentiment has remained negative this year all the way through May for the first time since the depths of the GFC in 2009, leaving retailers reeling and investors bearish on the sector.
Man who audits the tax office may review ATO
Tax commissioner Chris Jordan has announced an internal review of the Tax Office's policies and procedures following news that one of its highest ranking officers, Michael Cranston, allegedly abused his position as a public official.
Small Business
Champagne Jayne triumphs in trademark battle with powerful champagne lobby
Champagne Jayne's long legal battle has come to an end.
Small businesses get bigger, for tax
The tax planning options for the 2017 year for many small business owners have become clearer.