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10 things you need to know this morning in Australia

Thursday 13 May 2021

Business Outsider

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'This isn't a tax cut': Australian workers are set to cop a tax hike next year, as a fight begins to erupt over the government's stage 3 cuts

Taxes are shaping up as a major election issue, with the Coalition and Labor looking to clash over stage three tax cuts. It comes as tax experts accuse the government of wrongfully spinning this Federal Budget's one-time tax rebate, worth up to $1,080, as a proper tax cut.
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Victoria has agreed to all 20 recommendations of its gig economy inquiry – and chastised the Commonwealth for not taking action sooner

The Victorian Government says it wholly or partially supports all 20 recommendations handed down by the state's landmark inquiry into the gig economy.
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'This is not a typical year': Seek says jobs ads shot up by almost 12% in April, but analysts warn supply is not meeting demand

Job listings for April shot up almost 12% in April on job board Seek's Australian site. It marks a second consecutive month of the "highest number of job ads ever posted" said managing director of SEEK Australia and New Zealand Kendra Banks.
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Treasury Wine Estates boosts its earnings forecasts as it recovers from Chinese tariffs

Penfolds producer Treasury Wine Estates appears to be recovering well from its Chinese tariffs hangover, releasing a bullish earnings update and a new five-year growth plan on Thursday.
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The NSW government has approved a plan to bring back international students as soon as August and quarantine them in university accommodation

NSW says it will begin accepting international students within months with a program that excludes the Federal Government and will likely be paid for by the university sector.
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Almost 110,000 Australians came off JobSeeker in April, but the numbers are still up on a year ago

The number of Australians receiving the JobSeeker unemployment subsidy fell to 1.05 million in April, government documents show. That figure marks a reduction of nearly 110,000 people from March, and stands below the May 2020 peak of 1.46 million recipients.
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Buy now, pay later platforms face a day of reckoning, says Humm CEO Rebecca James

Humm CEO Rebecca James has pledged to maintain profitability as the former Flexigroup expands its buy now, pay later offering into Britain and Canada amid intensifying global competition that has sent stocks in the high-flying sector into a tailspin.
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Airbnb beats Q1 earnings expectations amid early signs of post-pandemic travel boom

Airbnb reported gross bookings of $10.3 billion, signaling a surge in demand for rental homes as travel starts to make a comeback.
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Thinking about investing in property? Here's everything you need to know about the market in 2021

Inner city dwellings may not recover until international visitor restrictions are lifted. Westpac forecast property growth of over 20% over two years.

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