Thu, 25th Apr 2024

This weekly finance news wrap delves into crucial Australian financial updates. It begins with a reminder of two significant Australian Tax Office (ATO) dates (1st July start of financial year and 31st October tax return deadline). It warns of the substantial fines for late filing, with potential for severe consequences, particularly for large entities. It also shares the expectation of an economic upswing as indicated by Australia's CPI update hinting at a declining annual inflation trend. The episode examines the startling rise in Australian student debt, with fears of a predicted 16% increase, leading to urgent calls for policy reform. It concludes with ANZ Bank's digital shift, ceasing distributing cheque books from June 16th due to a dramatic drop in usage, indicative of a broader move to digitalise finance in line with a 2030 government timeline.