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10 things you need to know this morning in Australia

Sunday 24 May 2020

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10 things you need to know this morning in Australia

Good morning, and welcome to Monday. Let's set a goal for ourselves this week: do not stuff up as much as the Treasury officials who made what will probably amount to being Australian history's worst accounting error.
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Treasury suddenly announced a 'reporting error' which means JobKeeper will cost Australia a massive $60 billion less than expected

A reporting error has led Treasury to overestimate the cost of the JobKeeper wage subsidy program by $60 billion. On Friday, the department issued a statement revealing the program was only supporting 3.5 million workers instead of the 6.5 it had originally reported.
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The government's sudden JobKeeper windfall has many calling for the program to be extended to those left behind

The Australian government expects its JobKeeper program to cost $60 billion less than it anticipated. Now different advocates are calling on the program to be expanded to cover the groups that currently miss out on the wage subsidy.
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Sydney and Melbourne are the most vulnerable to sharp property price falls, according to HSBC, as the coronavirus turns off the migration tap

HSBC has forecast property prices will fall nationally, and it says Sydney and Melbourne are the most vulnerable markets. It expects Sydney to fall between 5% to 15% and Melbourne to fall between 7% and 17% next year.
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'We know this is a big step': Up to 50 people will be allowed in restaurants, cafes and pubs in New South Wales from June 1

Pubs, restaurants and cafes in New South Wales will be allowed to serve 50 patrons from June 1. Social distancing rules must still be honoured, including having four square metres of space per person, and limiting bookings to 10 people.
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Koala says demand for its limited-edition work from home desk has 'exceeded expectations'

Koala has released a limited edition work from home desk. The desk doesn't need any tools to set up and includes cable slots, a device stand and a hanger.
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Here's everything you need to know about Foxtel's new streaming service, Binge

Foxtel's new streaming service has been announced after weeks of rumours and speculation. The upcoming addition, called Binge, will join a crowded market of streaming offerings competing for Australian dollars. Here's everything you need to know: including the price and how you can watch it.
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Amazon Australia will open its first dedicated Flex facility in Australia, as shores up its gig worker force locally

Amazon Australia has taken out a lease on a new distribution hub in Melbourne Airport's Business Park. The 330 square metre facility will be dedicated to Flex workers, Amazon's new delivery arm using gig workers.
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An Australian couple almost had $20,000 of superannuation stolen. The scam has exposed serious flaws in the federal government's early access scheme.

Australians are being targeted by scammers using the federal government's early access to super scheme to get their hands on up to $10,000 of retirement savings per victim.
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Important tips for consolidating debt

Aussies aren't strangers to racking up debt. For example, they built up more than $18 million worth of credit card debt over the 2019 Christmas period alone, with 22 per cent listing getting out of debt as their top New Year's resolution for 2020. But as we come closer to the second half of the year, it's important that the goal doesn't slip between the cracks.

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