News

Budget Estimates hearings begin next week in Canberra. Budget Estimates hearings begin next week in Canberra.

The Mental Health and Wellbeing Levy will begin from 1 January 2022. It will be implemented as a payroll tax surcharge on wages paid in Victoria by businesses with national payrolls over $10 million a year.

The Bank of England’s Sarah Breeden talks about how financial services firms in the UK can act as stewards in the move to a ‘net zero’ economy

The RBA noted that there had been a pick-up in issuance of residential mortgage-backed securities by non-banks at favourable spreads

The 2021/22 Federal Budget was released on Tuesday. The ABA’s summary can be found here.

I hope to see you at the upcoming ABA Banking Conference on 30 June 2021, where APRA Chair Wayne Byres will be discussing his priorities on a panel with RBA Governor Philip Lowe.

Australian banks welcome this recovery focussed Budget as they continue to help their customers bounce back from the pandemic.

Budget 2021/22 includes a big focus on aged care, the NDIS, support for first homebuyers and tax relief for low and middle income earners

The pandemic allowed the banks to reset their reputation, capital positions and cost base, and created a surge in demand. But COVID-19 also leaves a big problem.

Read the key points from the 6 May speech by RBA Deputy Governor Guy Debelle on “Monetary Policy During COVID”.

The Federal Government released its Digital Economy Strategy, including an extra $111 million for the rollout of the Consumer Data Right.

The April 2021 NPP Roadmap is now available. There are now 75 million accounts able to make or receive NPP payments, and the platform now processes an average of 2.2 million transactions a day. Close to 27 per cent of all account-to-account credit transfers are being processed across the NPP. There are now 6.7 million… Read more »