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Australian dwelling approvals fell in May. NewsWire

NEWSPremiumProof key target out of Australia’s reach

Australia’s housing crisis has deepened after apartment approvals collapsed, putting the country even further behind a key target.

Cameron Micallef

Rate hikes “appeared to be having broadly the expected effect”, with eased housing demand, the RBA said.

EconomyCommentsPremiumRBA paused to assess impact of earlier hikes to housing

Australia’s central bank opted to hold its key interest rate two weeks ago to assess how the economy was adjusting to earlier tightening, while also keeping an eye on fallout in the property market.

Rebecca Le May

Clare O'Neil (right) has defended the government's tax changes amid criticism from Michaelia Cash (left). Sunrise

POLITICSPremiumCoalition attacks Labor’s tax reform amid house price drop

Deputy Liberal leader Jane Hume has lobbed a major accusation at Labor as property prices sink following a sweeping tax overhaul.

Ria Pandey

The figures suggest the State economy is holding up better than most, helped by resources, population growth and less exposure to some of the sectors under the worst pressure nationally.

BusinessCommentsWA firms defy national business stress as costs climb

WA businesses are closing less and have fewer defaults than their Eastern neighbours, according to CreditorWatch, as bills go unpaid in other states.

Ryan Johnson

Australian shares have closed the financial year just 2.8 per cent higher

MarketsCommentsPremiumFlat year for ASX200 as shares get Trumped

Australian shares have closed the financial year just 2.8 per cent higher after a battering from Donald Trump’s war and the Reserve Bank’s three interest rate hikes.

Matt Mckenzie

Minutes from its June meeting revealed Reserve Bank of Australia monetary policy board members are concerned about inflation remaining above its 2-3 per cent target range for a sustained period.

EconomyCommentsPremiumRBA warns of another hike, blames unions

The Reserve Bank has warned it could raise interest rates again because union expectations of higher inflation could feed a wage-price spiral.

Stephen Johnson

The RBA held interest rates earlier this month following three consecutive hikes. NewsWire / John Appleyard

UPDATEDRate hikes having ‘expected effect’: RBA

Interest rate hikes are having the “expected effect” for Aussies, but the RBA is keeping the door open for a fourth hike this year.

Blair Jackson

From Wednesday, Australian families caring for a newborn or adopted child will be able to claim 26 weeks of paid parental leave with superannuation.

opinion
opinion
OpinionCommentsPremium
opinion
Career fears mean blokes are keep mum on paid parental leave

To paraphrase the great philosopher, Alanis Morrisette, isn’t it ironic that blokes have access to extended paid parental leave but most won’t take it for fear of harming their careers.

Ben O'Shea

Ben O'Shea

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nationalPremium‘Broken’: PM defends CGT changes

Anthony Albanese has defended changes to the capital gains tax system under the latest federal budget.

Angie Raphael

Westpac is forecasting the economy will grow at the slowest annual pace (outside of COVID) since the early 1990s recession.

RBACommentsPremiumThe two things set to force interest rates up even higher

Australia’s economy is tipped to suffer the worst slowdown since 2020, when GDP plunged by 1.1 per cent over a year that included COVID lockdowns that sparked the first recession in 29 years.

Stephen Johnson

A data centre in Newcastle Street, WA.

EconomyCommentsPremiumData centre boom: AI plan needed before its too late

Australia should learn from the giant LNG boom of the 2000s as the country readies for a deluge of investment into data centres, HSBC chief economist Paul Boxham says.

Matt Mckenzie

Fuel prices are expected to jump 16 cents a litre on Wednesday as a cut to the fuel excise is reduced.

RetailACCC puts servos on notice over jacking up prices

As fuel prices are expected to jump this week, retailers have been put on notice that their conduct will be “closely examined”.

Blair Jackson and Joseph Olbrycht-Palmer

The tax changes are designed to make new homes more attractive to buyers. NewsWire / Flavio Brancaleone

NEWS‘Reversing’: Changes that flip housing trend

Economists are divided over whether federal housing tax changes make regional property investment more attractive than buying in Australia’s major cities.

Blair Jackson

Treasurer Jim Chalmers has defended the Albanese government’s approach to reforming the tax system.

POLITICSPremiumOne CGT question that left Chalmers cornered

The Treasurer has avoided answering a key question about Labor’s CGT changes amid ongoing backlash from the start-up sector.

Ria Pandey

The West Australian’s business reporter Matt MacKenzie speaks with CCIWA chief economist Daniel Kiely, ECU provost Colm Harmon, Skalata’s Tracie Clark, Spacecubed founder Brodie McCulloch and StartupWA chair Charlie Gunningham at a business and economics roundtable hosted by Edith Cowan University and The West.

StartupsCommentsPremiumMaking WA attractive for startups ‘not playing in sandpit’

There are good reasons to be optimistic about WA but much remains to be done to make the State a competitive place business, particularly for startups who ‘aren’t playing around in the sandpit’, experts say.

Cheyanne Enciso

Prime Minister Anthony Albanese has dismissed the ‘nonsense’ around his government’s tax reforms. NewsWire / Martin Ollman

POLITICSPremiumAlbo rejects budget doomsday fears

Anthony Albanese says the “nonsense” around Labor’s tax reforms “will dissipate” now that they have passed parliament.

Joseph Olbrycht-Palmer

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UPDATEDPremiumFigure that spells relief for millions of Aussies

Australian mortgage holders will be relieved by this number after the latest unemployment and household spending figures were announced.

Cameron Micallef

Inflation numbers sit at the very heart of so much of our lives, and the latest figures brought little comfort.

opinion
opinion
EditorialCommentsPremium
opinion
Stubborn inflation feeds fear of more rates pain to come

Inflation numbers sit at the very heart of so much of our lives, and the latest figures brought little comfort.

Reserve Bank of Australia governor Michele Bullock and deputy governor Andrew Hauser.

RBACommentsPremiumHauser backs jobs market after rate hike hits

Reserve Bank deputy boss Andrew Hauser is confident three consecutive interest rate hikes this year won’t lead to surging unemployment while warning inflation ‘remains far too high’.

Matt Mckenzie

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FINANCE‘Warning lights’ over Aus’ inflation figure

Frustrated mortgage-holders have been left on edge ahead of the RBA’s next meeting, even with Australia’s headline inflation rate slowing.

Cameron Micallef

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POLITICSPremiumPaid parental leave ‘not safe’ with Pauline Hanson

Parents have been warned not to trust Pauline Hanson after the One Nation leader walked back criticism of paid parental leave.

Joseph Olbrycht-Palmer

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BusinessCommentsPremiumHomeowners warned of more rate pain amid stubborn inflation

Mortgage holders could face further interest rate pain as economists warn inflation remains well above the Reserve Bank’s target ahead of Wednesday’s official figures.

Cameron Micallef

Bankwest Curtin Economics Centre director Alan Duncan.

EconomyCommentsPremiumA wealth of reasons to save, not spend, WA’s boom

A Perth think tank has urged governments to save cash from WA’s resources bonanza for future decades through a sovereign wealth fund — and avoid taking direct ownership of projects.

Matt Mckenzie

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financeASX falls on Wall Street tech dip

Falling US technology shares have bludgeoned the ASX 200, with tech, mining and energy stocks dragging the benchmark.

Blair Jackson