Economy / 01 July 2024
New financial year, new you…
A pinch and a punch for the first day of the month/new financial year, and brace yourself because there are more than a couple of things happening, including a rise in your employer’s superannuation payments and a boost to parental leave. The Albanese Government’s Stage 3 tax cuts are also kicking in, leaving every working Aussie with more in their pay packet. Given concerns about how that extra $100 billion in consumers’ wallets could affect inflation – particularly after it rose to 4% in May – Treasurer Jim Chalmers says he’s “confident” that the “future trajectory of inflation” is on track. The Coalition doesn’t agree, so there could be more debate about that in the federal parliament this week… Less taxing is the swearing-in of our new Governor-General Sam Mostyn this morning – she’s scored a massive pay rise for her new gig…
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