Quarantine toughened after Victoria virus spike
Overseas travellers to Victoria will be required to be tested or face an extra 10 days detained in hotels as the state struggles to bring its outbreak under control, while other states are pushing ahead with loosening restrictions on sport and businesses.
ASX to fall as volatility continues and virus cases top 10m
Australian shares are set to drop after coronavirus cases passed 10 million around the world and a US surge sent markets into retreat.
- Exclusive
- Tax reform
'Burning platform' is here for GST reform: Ken Henry
Twenty years after introducing the GST, John Howard says the secret to successfully prosecuting tax reform is convincing voters it is good for the economy and fair to Australians.
Global death toll exceeds 500,000
All eyes are on Victoria as it awaits a second wave; globally, more than 10 million people have tested positive, 500,000 have died. Follow updates here.
JobKeeper 'too costly' to keep, say top economists
Australia's leading economists believe the pandemic-triggered JobKeeper program could hamper the recovery if it remains in place for too long
- Exclusive
- Airports
Airports share Qantas and Virgin's pain
Some major airports are grimly forecasting that international travel will remain largely absent until at least mid-2021.
The fundie looking for the next Afterpay
Tobias Yao says a multi-decade growth spurt for e-commerce will produce huge winners for micro-cap investors. "It's impossible to find the next Afterpay, but I have found one that looks pretty good."
Expert advice for getting ahead in the new world of work left by COVID-19
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AFR MAGAZINE
Risky business: inside Neil Perry's 'comeback'
Neil Perry was poised to buy back his premium restaurants when COVID-19 threw a curveball. In a pandemic, what’s a restaurant worth?
Your most-missed restaurant dishes – and how to prep them at home
Jill Dupleix draws together recipes for the signature dishes Australia has longed for in lockdown, courtesy of some of your favourite chefs.
Drink ‘delicious’ smoke (and other beverage rules to break in 2020)
There’s never been a better time to rethink your drinks list. Here to whet your appetite are seven trends – and some of the innovators driving them.
'Welcome back to restaurants': Grand venue hails new dining era
Andrew McConnell's just-announced CBD bar and fine-diner, Gimlet, means there's even more to look forward to as pandemic restrictions ease.
- Exclusive
- Restaurants
Neil Perry’s restaurant buyback plan off the menu, for now
The pandemic ruined the celebrated chef's plan to buy back the restaurants he sold to private equity. He's now focused on just getting them reopened.
Companies
- Exclusive
- Conflict gold
WA corruption watchdog looking at Perth Mint
Already under pressure over tainted gold, the government-owned refiner is now facing fresh questions over corruption.
Sea World gets a rush as Village reopens theme parks
More than 4000 people turned up to Sea World on Friday and another 5000 came on Saturday, the company said.
- Exclusive
- Coronavirus pandemic
Treasurer zeroes in on CBD and SME hotspots
Commercial property, Queensland, deserted CBDs and the flow of credit to SMEs are among the key areas of concern.
- Exclusive
- Mining
Indigenous group with $650m investment portfolio pulls out of Rio
The NSW Aboriginal Land Council has told its fund managers to pull out millions of dollars invested in Rio Tinto because of concerns about the destruction of ancient rock shelters at Juukan Gorge.
Resources and energy exports slashed by $30b
COVID-19 has shattered Australia's resources and energy forecasts, with export earnings set to drop from $293 billion to $263 billion in 2021.
- Exclusive
- Superannuation
Cbus builds climate risk into quant model
Cbus chief investment officer Kristian Fok said the $56 billion fund would not automatically invest in firms vulnerable to climate transition risk as it notches a positive return for the financial year.
CUA sees hopeful repayment signs ahead of loan cliff
With government and banking relief scheduled to roll off from October, Australia's biggest customer-owned lender has seen some encouraging data.
Markets
Sonic Healthcare weathers COVID with flat earnings, but will it last?
Corona-what? That's what bullish investors in Sonic Healthcare will be saying to themselves after the company reinstated its earnings guidance last week.
Pandemic fears tighten grip on markets
Australian stocks are expected to post sharp losses when trading starts again on Monday as second wave fears tighten their grip on global equity markets.
- Opinion
- Economist survey
Reform now or be left behind
Never has the need for reform of the Australian economy been so urgent. It's time for policymakers to get real about looking over the horizon and delivering long-term prosperity, writes Robert Guy.
HSBC's Bloxham says reforms should take centre stage
HSBC chief economist Paul Bloxham shunned the bright lights of stage but the past three months have been drama-filled. He has a warning: tougher choices are yet to come.
Slash takeover red tape to boost economy, says top law firm
The Morrison government is warming to the case for deregulation of small company takeovers to make sure potentially valuable assets aren't left in limbo as the nation tries to recover from the COVID-19 downturn.
Opinion
Time for ASIC to concede 'wagyu and shiraz' defeat
Who knew? Turns out there is a good riposte to ASIC's "why not litigate?" mantra. Litigation is costly, disruptive, and you're not guaranteed to win.
Columnist
History lesson teaches how to do tax reform again
Looking back, the introduction of the GST 20 years ago shows that major taxation change requires a burning platform, a focus on fairness, and outstanding political leadership.
Contributor
GST birthday sad reminder of reform complacency
20 years on from the GST, the time has come to end the complacency about reforming Australia's economically damaging tax system now that the burning platform is here.
Editorial
Why the last great tax change remains unfinished business
To finish the job the Howard government started, expand the GST and cut or abolish distorting taxes on earnings and jobs.
Columnist
Alan Kohler cosies up to fantasy economics
The face of the ABC's finance reporting is promoting an economic theory that argues deficits don't matter and the Reserve Bank shouldn't be independent.
Senior correspondent
No time now for wish lists
Because the government's hands will be full dealing with the realities of the COVID-19 recovery, pre-crisis favourite policy ideas shouldn't be top of the agenda.
Contributor
Politics
Economy will need $90b more stimulus: Grattan Institute
JobKeeper should be extended and governments should inject a further $70 billion to $90 billion over the next two years to avoid long-term unemployment "scarring".
Regulation 'shields' could be made permanent
The federal government is actively considering making permanent some coronavirus "regulatory shields" for businesses to cut red tape and attract investment in the economic recovery.
War Memorial boss rejects 'theme park' redevelopment concerns
The historic Canberra site's footprint will be expanded by about 80 per cent.
'A good thing for the country': Meg Lees on the GST, 20 years later
The former Democrats leader says any move to radically change the tax rate or base should be opposed.
How Jeff Kennett helped save the GST
Rob Lucas, the last political survivor of the GST era, said "it was Kennett and Stockdale who got it through".
SPONSORED
World
Germany holds the line against second wave of COVID-19
But now Lisbon is in a localised lockdown and the British city of Leicester could be next - although its mayor is resisting action until new data comes in.
Mark Zuckerberg loses $US7b as advertisers boycott Facebook
Starbucks and PepsiCo are among the latest companies cutting ads to pressure Facebook and its peers to suppress posts that glorify violence and promote racism.
Virus surges in US as world passes grim milestone
Five US states hit record daily highs for coronavirus cases as global numbers exceeded 10 million and the death toll approached 500,000.
China prepares to introduce Hong Kong security laws
China's legislators started a three-day meeting on Sunday that is expected to implement new security laws for Hong Kong this week.
- Opinion
- North Korea diplomacy
Angry Kim seizes opportunity to pursue push against Seoul
North and South Korea seem headed for a dark period in their relations, writes Brookings Institution senior fellow and former US official Evans JR Revere.
Property
Spooked Melbourne buyers send clearance rate lower
Auction clearance rates have softened amid fears of a coronavirus resurgence, with most Melbourne vendors moving their auctions online as Sydney auction sales strengthened.
Online auctions bring out rural buyers
Ray White and Colliers International have embraced online auctions as their preferred method to sell rural property, with a number of notable deals struck under the virtual hammer in the past week.
MPG adds $41m of government buildings to regional cities fund
MPG established its regional cities fund to acquire government and social infrastructure properties located in growing East Coast regional hubs.
Primewest to buy Lamattina celery farms for $42m
According to an information memorandum sent to investors, Primewest is seeking to raise $31.5 million to fund the acquisition, which is due to settle in July.
British mall owner Intu folds under debt
Intu's shopping centres are home to hundreds of well-known retailers and normally get millions of visitors a year. But the coronavirus crisis hit both footfall and rents.
Wealth
How to maximise your tax refund in the year of COVID-19
As well as ticking off your "to-do" list before June 30, ensure you're making the most of ATO special concessions.
How COVID-19 could affect your franking credits
Falling turnover and business shutdowns will see some firms move between tax thresholds, potentially affecting franking credits.
Failed Wirecard held by ethical ETFs
The German payments company had governance problems for years yet funds with strong environmental and social governance credentials kept buying its shares.
Technology
Belgian fintech hopes to add a dash of Pixar to robo-advice
InvestSuite has a product that its Australian team reckons will stop punters throwing their annual super fund statement straight in the bin.
Edtech start-up surges past $100m in revenue in five years
When Sam and Ryan Kroonenburg started A Cloud Guru, they wanted to help 100,000 people with training in cloud tech. In five years they've hit 2 million users.
Google will pay for news on fresh platform
A new global Google news and discovery product involves the tech giant striking commercial deals with local news publishers to showcase their content.
Work & Careers
Younger workers to feel COVID-19 pain
New research shows workers aged 18-23 could have $22,000 less to spend on a home and $30,000 less in retirement savings because of the coronavirus.
- Opinion
- University
New policy on university fees is a long way from market signal
By setting fees according to its own formula the government is following in the steps of a Soviet-style policy.
Life & Luxury
Why dance music king Diplo has gone country
The superstar producer says if you grew up in America's south like he did, the recent success of country-rap is no surprise.
Tough times at the box office for reopening cinemas
Cinemas across the country are preparing to reopen, but face the challenge of making money with reduced occupancy due to social distancing.
- Exclusive
- Trump's White House
Bolton book extract: in Trump's White House, chaos is a way of life
In an exclusive extract from his new book, John Bolton describes the infighting, blindsiding and falling outs in Donald Trump's presidency like no other.
'Greed' shows one way to get rich (if you can stomach it)
Prolific British director Michael Winterbottom presents a protagonist of such shameless bastardry that watching him in action is more of a pain than a pleasure.
Reopened NGV to confront racism through art
Those who visit the National Gallery of Victoria for the Van Goghs, Picassos and Dalis may have to confront tough questions about Australia's past and present.
