Money

2025 Budget: Tax cuts, benefits, and key impacts

“2025 Federal Budget: Winners Include Taxpayers, Students; Losers Are Small Businesses and Welfare Recipients Amid Election Focus.”

Published

6 months ago

March 25, 2025

Ahron Young

2025 Federal Budget: Winners include taxpayers, students; Losers are small businesses and welfare recipients amid election focus.

In Short

The 2025 Federal Budget includes tax cuts for individuals and support for low-income earners, a $450 energy rebate, and reductions in student loans for graduates.

However, small businesses may struggle with removed tax benefits, and welfare rates remain the same, highlighting the government’s mixed priorities before the election.

The Federal Budget for 2025 reveals significant changes for the economy, emphasising pre-election commitments from the Labor government.

Taxpayers will receive modest tax cuts, resulting in approximately $5.15 extra weekly for those earning around $79,000. Low-income earners will also benefit from decreased tax rates over the next few years.

An extended $300 energy rebate, now totaling $450, aims to assist households through 2025.

University graduates will see 20% of their student loans erased, alongside raised income thresholds for compulsory repayments. The free TAFE program will continue, offering 100,000 places annually from 2027.

Construction workers

Apprentices in construction and related fields will receive $10,000 upon completion of their training. The budget includes measures to boost bulk-billing GP appointments, aiming to offer 90% of visits at no cost.

The Pharmaceutical Benefits Scheme will introduce caps on medicine costs and include new medications, further aiding cost relief for Australians.

Funding will also support healthcare staff and build additional Medicare urgent clinics.

Families will benefit from subsidised childcare, with funds allocated to expand services.

Asset write-off

However, small businesses may feel the impact of the eliminated instant asset write-off.

Welfare rates remain unchanged, disappointing advocates for higher support.

Additionally, Labor plans to phase out live sheep exports by 2028, aiming to ensure a smooth transition for the industry.

Overall, the budget presents an array of winners and losers, reflecting the government’s priorities ahead of the upcoming election.

Money

Fed cuts rates, signals more potentially ahead

Fed lowers rates amid job market concerns, signalling potential further cuts in upcoming meetings

Published

4 days ago

September 18, 2025

Ahron Young

Fed lowers rates amid job market concerns, signalling potential further cuts in upcoming meetings

In Short:
– The Federal Reserve cut interest rates by a quarter-point to address job market concerns.
– Officials expect at least two additional rate cuts by year-end amid ongoing economic uncertainties.

The Federal Reserve has reduced interest rates by a quarter-point, addressing concerns about a weakening job market overshadowing inflation worries.

A majority of officials anticipate at least two additional cuts by year-end during the remaining meetings in October and December.

Fed Chair Jerome Powell noted a significant shift in the labour market, highlighting “downside risk” in his statements.

The recent rate cut, supported by 11 of 12 Fed voters, aims to recalibrate an economy facing uncertainties from policy changes and market pressures.

Policy Dynamics

The decision comes amid intense political scrutiny, with President Trump openly criticising Powell’s reluctance to lower rates.

Despite the controversy, Powell asserts that political pressures do not influence Fed operations.

The current benchmark federal-funds rate now sits between 4% and 4.25%, the lowest since 2021, providing some reprieve to consumers and small businesses. Economic forecasts indicate ongoing complexities, including inflation trends and the impact of tariffs on labour dynamics, complicating future policy decisions.

Money

Fed faces unusual dissent amid leadership uncertainty

Fed’s Powell navigates contentious meeting amid Trump-appointed dissenters as rate cut looms and succession contest heats up

Published

4 days ago

September 17, 2025

Ahron Young

Fed’s Powell navigates contentious meeting amid Trump-appointed dissenters as rate cut looms and succession contest heats up

In Short:
– This week’s Federal Reserve meeting faces unusual dissent as Chair Powell approaches his term’s end.
– Analysts predict dissent over expected rate cuts due to political pressures from Trump-appointed officials.

This week’s Federal Reserve meeting is set to be particularly unusual, with Chair Jerome Powell facing significant disagreements over future policy as he approaches the end of his term in May.Tensions began before the meeting when Fed governor Lisa Cook won a court ruling allowing her to attend, despite opposition from President Trump, who is attempting to remove her.

The situation is further complicated by the recent swearing-in of Trump adviser Stephen Miran to the Fed’s board, following a Senate confirmation.

Analysts believe Powell may encounter dissent on an expected quarter-percentage-point rate cut from both Trump-appointed officials and regional Fed presidents concerned about inflation.

Potential Dissent

Trump has urged significant rate cuts and for the board to challenge Powell’s decisions.

Some analysts predict dissenting votes from Miran and other Trump appointees in favour of larger cuts. Federal Reserve veterans express concerns that political motivations may undermine the institution’s integrity, with indications that greater dissent could become commonplace.

Money

RBA plans to ban credit card surcharges in Australia

Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards

Published

6 days ago

September 16, 2025

ticker NEWS

Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards.

In Short:
– The RBA plans to ban surcharges on debit and credit card transactions, supported by consumer group Choice.
– Major banks oppose the ban, warning it could lead to higher card fees and reduced rewards for credit card users.

The Reserve Bank of Australia (RBA) intends to implement a ban on surcharges associated with debit and credit card transactions. Consumer advocacy group Choice endorses this initiative, arguing that it is unjust for users of low-cost debit cards to incur similar fees as credit card holders.

The major banks, however, are opposing this reform. They caution that the removal of surcharges could prompt customers to abandon credit cards due to diminished rewards.

A final decision by the RBA is anticipated by December 2025.