The business world is reporting a mood of cautious optimism about the economic global and national outlook for 2023, according to a recent survey released by JP Morgan. 59% of respondents are feeling positive about the future which is heartening. Yet, 46% of Australian business leaders are saying they expect a recession this year. This is significant and worth paying attention to.
If you are a self-funded retiree there’s some good news, with the government legislating to increase the income thresholds for the popular CSHC. This new rule will allow an extra 44, 000 older Australians access to the relevant pharmaceutical and medical benefits discounts and other associated concessions that the card provides.
Inflation is a hotly discussed issue right now and you may be wondering what it really means and how it affects you. Australia is experiencing record levels of inflation because of knock-on effects from the COVID-19 pandemic, the war in Ukraine and strong consumer demand. With forecasters predicting it to peak at 7.75% in December 2022, it is important to understand how this will impact you.
