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Economy

Downsizer contributions reach $1 billion milestone

More than $1 billion has been contributed by pensioners into their superannuation funds under the “downsizer contribution” initiative that aims to build retirement incomes and free up ...

Downsizer contributions reach $1 billion milestone
Government’s FMD scheme ‘not been fully effective’

The administration of the $6.6 billion Farm Management Deposit Scheme “has not been fully effective”, the ANAO has said after completing its audit.

Farm tractor
States lose billions in revenue to housing downturn

State governments have been urged to rethink their approach to property taxation, with new research fueling claims that stamp duty is an “unreliable source of revenue”.  

Money
A third of Aussies ‘embarrassed’ by financial situation

About one in three Australians is “embarrassed” by their financial situation and habits, according to a new report.

Empty wallet
RBA ‘leaves door open’ to further cuts

The central bank has not ruled out further adjustments to the cash rate, with a third cut forecast for as early as August. 

Philip Lowe
Apartments drive building approval rebound

Apartment approval growth in May ended a two-month run of steep declines in total building approvals, according to new ABS data. 

Apartment construction
Attitudes to immigration impact house prices, study finds

A correlation between attitudes towards immigration and house prices has been discovered by Deakin University. 

World Map
Home sales resurge in ‘post-election euphoria’

There were more than 5,000 new home sales in May 2019, marking the largest monthly sales volume since June 2018 and hinting at the “bottoming out” of the property cycle, the HIA has said

Home for sale
Major bank updates Remuneration Committee remit

The Commonwealth Bank of Australia has broadened the scope of its Remuneration Committee to include a focus on people, talent management and diversity, among other aspects, as the bank ...

CBA
RBA cuts cash rate to new record low

The central bank has lowered the official cash rate for the second consecutive month, with attention now turning to the response from Australia’s mortgage market.  

RBA cuts cash rate to new record low
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