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10 things you need to know this morning in Australia

Sunday 5 July 2020

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10 things you need to know this morning in Australia

Good morning. Hope you all had good weekends.
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'I genuinely thought they would check': Meet the Australians who withdrew their super and now fear the tax office is coming for them

The Australian Taxation Office (ATO) has commenced its review into Australians who withdrew their super early despite not being eligible. With nearly all of the 2.4 million applicants to the scheme approved, many told Business Insider Australia they now fear heavy fines and a large tax bill from the last financial year.
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The ATO has begun punting ineligible workers off JobKeeper, with its incoming audit expected to cause 'mayhem' for small businesses

The ATO has revealed it kicked 6,500 businesses off the government's JobKeeper after their claims were deemed fraudulent or ineligible. 8,000 people have been sent letters indicating they may need to repay wage subsidies they have already received.
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Dow caps off best quarter since 1987 as strong economic data drives gains

US stocks rose on Tuesday as better-than-expected economic data outweighed mounting concern over a second wave of COVID-19 cases. The Dow Jones industrial average's 18% gain in the three-month period from April through June marked the index's best quarterly return since 1987.
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Collapsed swimwear brand Seafolly will shut all its Sunburn-branded stores as it tries to make itself more 'attractive' to buyers

The administrators of collapsed swimwear brand Seafolly will shut all of the company's Sunburn-branded stores in an effort to slim the business down for a potential sale.
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Kanye West announced on Twitter he's running for president, but it's too late for him to appear on the ballot in 6 states

Kanye West announced Saturday his intention to run for president of the United States, tweeting"we must now realise the promise of America by trusting God, unifying our vision, and building our future. I am running for president of the United States."
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How much Apple, Tesla, Amazon, and 10 other tech giants pay their workers, from engineers to salespeople

Hello everyone! Welcome to this weekly roundup of Business Insider stories from executive editor Matt Turner. Please subscribe to Business Insider here to get this newsletter in your inbox every Sunday.
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Ghislaine Maxwell and Kevin Spacey pictured posing on Buckingham Palace's thrones on a private tour hosted by Prince Andrew

A photo has emerged which appears to show Ghislaine Maxwell and Kevin Spacey posing on the thrones of Buckingham Palace in 2002. The duo and former US president Bill Clinton were being given a private tour of the palace by Prince Andrew, according to the Telegraph.
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Nestlé is opening a new KitKat Chocolatory in the Sydney CBD, which the company calls an 'innovation incubator'. Take a look inside.

Nestlé is opening a new KitKat Chocolatory in Sydney, after the success of a similar store in Melbourne. At the store, you get to create your own personalised kitkat or pick from a selection of special edition flavours like 'Reimangined Aussie Lamington'.
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6 perks of doing your MBA online – from flexibility to saving money

There are upsides to revisiting uni when you're further along in life. For one, you'll likely have a clearer direction than you did fresh out of high school, and people who continue their studies after being in the workforce tend to have an actual goal in mind.

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