Throwing people on smoker policies earned seven superannuation companies millions: ASIC

Seven superannuation companies have been caught overcharging customers by defaulting them onto health policies for smokers, leading to a multimillion dollar windfall.

Government COVID-19 support payment extended, criteria relaxed

The Federal Government has expanded its JobKeeper support payment for businesses and relaxed eligibility criteria in the wake of a pandemic teetering on a second wave along Australia’s east coast.

Renters hit by pandemic rarely offered helpful discounts, survey finds

Less than ten per cent of renters confronted with a loss of income during COVID-19 were granted relief with an adequate discount, a report has found.

RBA makes the case for 20-storey apartments in Sydney

Planning controls -- and not demand -- have pushed the price of apartments in Sydney up by more than half of their construction costs, Australia’s central bank has found.

As jobless figure creeps, more people defer mortgage repayments

Homeowners who deferred their mortgages are making less repayments than when the pandemic first struck, putting them in the position where they will likely face compounding interest charges in the thousands, according to data released by the financial regulator.

RBA considers cutting record low cash rate

High unemployment, tapering stimulus payments, a sagging property market and a possible second COVID-19 wave will be front of mind when the RBA meets to decide if a rate cut should take place.

Property values shrink in capital cities as COVID-19 casts uncertainty: CoreLogic

Australia’s sale and rental market fell for a third month straight led by drops in its largest cities, new data shows, testing its resilience as the country grapples with a pandemic.

Households on the brink of 'savings cliff', ME Bank warns

Government payments have cushioned the financial blow wrought by the coronavirus, but survey findings indicate households face a financial 'cliff' as stimulus payments recede.

Banks will have to solve customer complaints a lot faster: ASIC

Banks will have to resolve complaints quicker under new guidelines, potentially offering relief in about 420,000 cases.

Stunted career prospects and zero real wage growth, Productivity Commission report finds

Young people have had to settle for jobs of lesser quality following the GFC, a government report claims, offering some insight into a job market upended by COVID-19.