by Troy MacMillan | Jul 31, 2020 | Budget, Economy
How often do you go to the bank or ATM for cash? As far back as three years ago, the Reserve Bank of Australia noted that Australians use debit and credit cards to pay for goods more often than cash. At the time, the RBA said that 52% of payments made during the...
by Troy MacMillan | Jul 24, 2020 | Budget, Economy, Generation
Australia’s budget deficit swelled to almost $86 billion last financial year, highlighting the significant impact of Covid-19 on the public purse. 2019-2020 saw the worst budget deficit since the Second World War, but there’s much worse coming. The federal government...
by Troy MacMillan | Jun 17, 2020 | Budget, Economy, Family
Before COVID-19, the Australian government stipulated limited circumstances where you can withdraw your superannuation early. When the virus hit and millions were laid off, authorities allowed eligible citizens and permanent residents to withdraw up to $20,000 from...
by Troy MacMillan | May 15, 2020 | Economy, Family
Australia’s Treasurer Josh Frydenberg released a ministerial statement this week calling Covid-19 a “flagless enemy.” He is not wrong. The novel disease has infected more than 4.4 million people as of Friday. While Australia has done a better job than most in...
by Troy MacMillan | Apr 28, 2020 | Economy, Family, Investment
The financial market meltdown of the past two months has everyone interested in liquidity again. Staying liquid was an afterthought in 2019 as global equity markets surged to record highs. But as coronavirus ravaged stocks—to the tune of trillions—capital preservation...
