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Latest news: Personal Income

Surprise GDP data 'final green light' for rate hike

Surprise GDP data 'final green light' for rate hike

Data centre investment and electric vehicle purchases are making it harder for the Reserve Bank to get inflation down as the likelihood of a rate rise firms.

'Keeps me up at night': generational rupture laid bare

'Keeps me up at night': generational rupture laid bare

'Keeps me up at night': generational rupture laid bare

'Keeps me up at night': generational rupture laid bare

Rising rents and falling real wages have squeezed young Australians, who find themselves no better off than previous generations.

Data centre boom fails to boot up lagging economy

Data centre boom fails to boot up lagging economy

Data centre boom fails to boot up lagging economy

Data centre boom fails to boot up lagging economy

A fourth Reserve Bank rate hike is still on the cards for 2026, despite a slowdown in economic growth, falling productivity and high labour costs.

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Irish basic income scheme to pay artists $550 per week

Irish basic income scheme to pay artists $550 per week

A basic income ‍scheme from the Irish government will pay 2000 artists about $A550 a week for a period of three years.

Beyonce now a billionaire, according to Forbes

Beyonce now a billionaire, according to Forbes

Forbes magazine says Beyoncé has joined her husband Jay-Z and Taylor Swift among an exclusive club of celebrity billionaires.

One million pushed to brink amid child poverty crisis

One million pushed to brink amid child poverty crisis

Advocates are renewing calls for Australia to adopt a nationally-agreed definition of child poverty, as concerning data shows almost one million are struggling.

Young Australians told not to fret lower super balances

Young Australians told not to fret lower super balances

The median super balance for Australians aged 65-69 is $208,143, below recommended benchmarks to live comfortably in retirement.

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'Socially isolating': one in seven living in poverty

'Socially isolating': one in seven living in poverty

'Socially isolating': one in seven living in poverty

'Socially isolating': one in seven living in poverty

Charities and social services are calling for urgent action after a study showed one in seven Australians are living in poverty.

Half of Australians anxious about retirement savings

Half of Australians anxious about retirement savings

Half of Australians anxious about retirement savings

Half of Australians anxious about retirement savings

An increasing number of Australians say it would take a miracle for them to retire financially secure, according to multiple surveys.

No respite from tax burden on younger workers in budget

No respite from tax burden on younger workers in budget

No respite from tax burden on younger workers in budget

No respite from tax burden on younger workers in budget

Young income earners will be increasingly called upon to fund rising public spending unless structural tax reforms are made in the next term of government.

Call to bring back inheritance tax to tackle wealth gap

Call to bring back inheritance tax to tackle wealth gap

Call to bring back inheritance tax to tackle wealth gap

Call to bring back inheritance tax to tackle wealth gap

Inheritance taxes are economically efficient and reduce inequality between those who work for an income and those who earn income from wealth, economists say.

Carer, student, youth support payments set to grow

Carer, student, youth support payments set to grow

Carer, student, youth support payments set to grow

Carer, student, youth support payments set to grow

Young Australians, students, carers and other who receive government support allowances will take home more as indexation increases their payments.

Calls for overhaul as welfare payments incorrectly axed

Calls for overhaul as welfare payments incorrectly axed

Calls for overhaul as welfare payments incorrectly axed

Calls for overhaul as welfare payments incorrectly axed

Welfare recipients may have had their payments illegally cancelled, prompting calls to suspend the tool used to enforce mutual obligations.

Rich get richer than rest: Australia's wealth gap grows

Rich get richer than rest: Australia's wealth gap grows

Rich get richer than rest: Australia's wealth gap grows

Rich get richer than rest: Australia's wealth gap grows

Australia's wealthiest households have comparatively added more to their pile than those at the bottom and rising unemployment is set to further widen the gap.

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Tax cuts aimed squarely at regions, PM declares

Prime Minister Anthony Albanese says Labor's revamped stage three tax cuts will largely benefit working Australians from the bush.

'They'll never change': PM goes on attack over tax cuts

Anthony Albanese has launched a full-throated attack against the coalition after it loudly complained and then quickly capitulated over changes to tax cuts.

Coalition 'cannot be taken seriously' on tax, PM claims

The prime minister says the federal opposition cannot be taken seriously after agreeing to back in stage three tax cut changes following earlier criticism.

Alarm sounded over long-term effects of tax cuts

Concerns are being raised new tax cuts will put a dent in the pocket of Australians in the long-term as the issue of bracket creep remains.

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Storm clouds loom for economy as rain, floods take toll

The fallout from severe storms in Queensland could lead to consequences for the economy and budget bottom line, Treasurer Jim Chalmers has warned.

Crackdown coming for million-dollar tax refund rort

Unsuspecting taxpayers are getting ripped off by unscrupulous crooks who steal personal information and hack their accounts.

Childcare subsidy boost could worsen staff shortages

Parents are welcoming a lift to childcare subsidies but providers say increased demand will add pressure to existing staff shortages in the sector.

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