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10 things you need to know this morning in Australia

Tuesday 27 October 2020

Business Outsider

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Australia's recession may technically already be over as the economy begins to bounce back, the Reserve Bank says

Australia's economy may have grown during the September quarter, RBA Deputy Governor Guy Debelle has told Senate Estimates. Speaking on Tuesday, Debelle said the central bank's best guess at this point was of growth, marking a technical end to Australia's recession.
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Tasmania plans to open its border to travellers from New South Wales from next week

Tasmania is set to open its border to New South Wales on November 6. The decision, however, is subject to Public Health advice. It comes after Tasmania opened its border to other states including Queensland, South Australia and the Northern Territory on Monday October 26.
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The JobMaker scheme may fail to create 90% of the 450,000 jobs the federal government promised, Treasury admits

The federal government promised its JobMaker credit, a wage subsidy valued up to $200 for workers under the age of 30, would deliver 450,000 jobs.
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Aussie social media company Linktree has raised $15 million in its first ever funding round, as it sets its gaze on further expansion

Linktree raised US$10.7 million (A$15 million) in its first ever funding round, backed by Airtree Ventures and Insight Partners.
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The ATO fought 112 multinationals last year for $3 billion in tax. Those companies ended up getting away with over $1 billion.

The Australian Taxation Office (ATO) has revealed its performance in the last financial year. The figures reveal income tax refunds surged to more than $55 billion, with tax paid dropping by around 5% to around $405 billion.
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'Really excited': Melbourne retailers are rushing to prepare for reopening after Monday's announcement

Melbourne retailers have welcomed the Premier's announcement of eased restrictions from Wednesday, with many already calling staff into stores to prepare for their long-awaited reopening.
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Mark Zuckerberg, Bill Gates, Elon Musk, and 6 of the other wealthiest US billionaires reportedly lost a combined $14 billion in a single day

Mark Zuckerberg, Bill Gates, Alice Walton, and 6 of the other 10-richest in the US lost a combined $US14 billion after markets took a hit on Monday, Forbes reports.
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Facebook and Google are back in the spotlight ahead of key earnings and a possibly testy congressional hearing. Here's what to expect during tech's big week.

Big tech companies will be scrutinised by both lawmakers and shareholders this week, when three chief executives are set to testify before Congress and a slew of companies report their third-quarter earnings.
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What to consider when you're saving for a home and don't know where to start, according to an expert

This past week, CUA money expert Emmanuel Davatzis was the guest on a free hour-long finance session that broke down exactly what Australians should be doing to eventually buy a place of their own.

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