Economic News

ATO Deputy Commissioner Ben Kelly said that while the latest data is promising, the ATO remains concerned that health practitioners and third-party facilitators continue to use predatory practices to get individuals to inappropriately access their super for financial gain.

The joint activity, known as Operation Brambles, had the four agencies on the ground for two days this week. Officers inspected berry farms, interviewing growers, pickers and packers as well as supervisors and third-party intermediaries such as labour hire businesses. The agencies said investigations …

The ATO states that before a particular expense is paid from the fund, the payment should be made in accordance with a properly formulated investment strategy and be allowed under the trust deed and superannuation laws.

Hauser framed the Board's task as balancing the need to contain inflation against the effects of higher interest rates on economic activity and employment. He said a period of below-trend growth was necessary to bring inflation down, while acknowledging that the latest signs from …

The comments were made during a question-and-answer session at an investment conference. They described the Bank's current analytical concerns and did not provide a forecast for the returns on AI projects or an estimate of their future contribution to output.

He cited increased hardship and more calls to the National Debt Helpline among the signs of strain. He also noted weak consumer confidence and subdued consumption among some lower-income borrowers.

The comments were offered in response to a question about unit labour costs and whether weaker productivity required monetary policy to remain restrictive for longer. Hauser said the relationship was not automatic.