Economy

Gerry Harvey mum on why he repaid JobKeeper as profits pile up

By: Dominic Powell Harvey Norman founder Gerry Harvey has refused to reveal why his company chose to repay $6 million in JobKeeper subsidies to the federal government, while warning that letting current COVID lockdowns drag on for too long could tip the economy into a recession. Following the company’s release of record earnings for the 2021 financial year on Tuesday, ...

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Some of Australia’s most vulnerable workers have been overlooked by government support as capital cities head back into lockdown

By: Jack Derwin As lockdowns sweep four of Australia’s capital cities, government support is leaving some of Australia’s smallest and most vulnerable sole traders out in the cold. This week, the New South Wales government announced grants of $5,000 and $10,000 for small businesses and sole traders hurt by two week of stay-at-home orders in Sydney and wider restrictions applied more broadly ...

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Australia’s minimum wage to increase by almost $20 a week

Australia’s minimum wage will go up by almost $20 a week after the independent umpire decided that the economy had improved dramatically. About 2.5 million workers will get a raise because of the decision, which treads a middle line between the divergent requests of unions that had wanted a bigger rise and business groups that had demanded less. Iain Ross, ...

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Victoria to receive 130,000 additional vaccine doses

By: Tom McIlroy Melbourne’s spike in new COVID-19 cases is already driving bigger uptake of vaccines, with a record 15,816 doses delivered across Victoria in the 24 hours to Wednesday afternoon. A record for doses administered around the country – 104,658 jabs in 24 hours – was also achieved, as data collected by The Australian Financial Review showed about 2 per cent of ...

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Tasmania crowned Australia’s best-performing economy as population booms

Tasmania has maintained its stronghold as the nation’s best performing state economy as the Apple Isle’s population and property market booms. CommSec’s quarterly State of the States report found Tasmania led all other states and territories on dwelling starts- which means new properties being built – and population growth. It was closely followed by the Australian Capital Territory, which was ...

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Sydney business owners blindsided by forceful acquisition after Metro West train station announcement

By: Kevin Nguyen and Jonathan Hair Devastated business owners in Sydney’s CBD say they were blindsided by a NSW government announcement that their buildings would be forcibly acquired to make way for two train stations. The decision to build stations for the Sydney Metro West line in Pyrmont and Hunter Street was announced at 8:00am yesterday. But the ABC filmed Sydney Metro representatives going ...

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Jacinda Ardern confirms plans for new trans-Tasman travel bubble but says details won’t be released until next month

Australians will have to wait until next month to find out when they can fly to New Zealand again without quarantining, after Prime Minister Jacinda Ardern said more time was needed to set up a new trans-Tasman travel bubble. Ms Ardern told a press conference in New Zealand today that she would reveal a date for the start of quarantine-free ...

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COVID-19 and Real Estate Markets in Australia – A Review of 2020

  By Mohamad Mourad The onset of COVID-19 in 2020 has produced a number of interesting effects on dynamics in the traditional real estate sectors and real estate markets across Australia in terms of leasing activity and investment activity. This paper is designed to be a summary of the key events and themes surrounding the commercial real estate sector over ...

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