The Parliamentary Budget Office (PBO) has published a “Budget explainer” on bracket creep and its fiscal impact, noting that the Government faces a trade-off between returning bracket creep to taxpayers and allowing bracket creep to reduce debt faster. The report notes that Commonwealth net debt is expected to peak at 40.9% of GDP in 2024-25 with…
The Commonwealth and ACT governments on Thursday 30.9.2021, jointly announced a further package of COVID-19 grants for small and medium-sized businesses through until mid-October, at which point the ACT is expected to reach 80% vaccination. An additional ACT COVID-19 Business Grant Extension payment of $10,000 will be made available for all employing businesses (and $3,750 for non-employing…
The Commonwealth and Victorian governments have announced a funding package of up to $2.27bn on Thur 30.9.2021, which will support Victorian businesses as the state embarks on its roadmap to re-opening. Victoria is expected to reach a 70% vaccination rate around 26 October, and 80% by 5 November 2021. The funding includes: an automatic Business Costs Assistance Program grants…
APRA has released for consultation proposed revisions to Prudential Standard SPS 530 (Investment Governance)which aims to ensure registrable superannuation entity (RSE) licensees prudently select, manage and monitor investments. The proposed revisions to SPS 530 respond to findings from APRA’s unlisted asset valuation thematic review and its 2018-2019 post-implementation review of the super prudential framework. The updates…