Section

Money & Cost of Living

How Australian households are affected by wages, housing costs, interest rates and inflation. Summaries updated every two hours.

The cost of living is the defining issue for Australian households. This section tracks the news that hits your hip pocket: RBA interest rate decisions, rent and mortgage movements, superannuation changes, grocery and energy prices, wage growth, tax reform and Centrelink updates. Each summary includes a 'Why it matters' line explaining exactly how the news affects workers, renters and families. If it changes what Australians earn, spend or save, you will find it here.

money11h ago

Selling Inherited Property May Affect Pension Eligibility

Selling an inherited property can impact pension eligibility due to Centrelink's gifting rules. However, there are strategies to navigate these regulations and potentially minimise the effect on pension payments. Understanding these rules is crucial for those considering gifting proceeds to family members.

Why it matters: This affects retirees and their families by potentially reducing pension income when assets are gifted.

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Selling Inherited Property May Affect Pension Eligibility

money12h ago

Parents Charged After Toddler Enters Wolf Enclosure at Zoo

Parents of a toddler who entered a wolf enclosure at ZooAmerica in Pennsylvania face child endangerment charges after the child sustained a minor injury. Police report the parents were distracted by their cellphones and were approximately 25 to 30 feet away when the incident occurred on Saturday.

Why it matters: This incident highlights the risks of parental distraction, which can lead to dangerous situations for young children.

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moneyyesterday

David Ellison claims 70% of Americans are centrist

David Ellison, CEO of Paramount Skydance, claims that 70% of Americans identify as centrist, a statistic he uses to guide CBS News and CNN's editorial direction. This assertion aims to address the perceived silent majority in a politically divided landscape, aligning with the views of commentator Bari Weiss.

Why it matters: This perspective may influence how news is reported, potentially affecting public discourse and perceptions of political balance.

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moneyyesterday

Australia Faces Fuel Crisis Amid Rising Prices and Service Station Outages

Australia faces a fuel crisis as hundreds of service stations run out of petrol and diesel, with prices rising sharply since late February. The federal government responds by releasing fuel reserves, cutting excise taxes, and implementing a national fuel security plan amid ongoing disruptions from the conflict involving Iran. Oil shipments have also been cancelled, exacerbating the situation.

Why it matters: Households and workers are affected by rising fuel prices and limited availability, impacting daily commuting and transport costs.

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money2d ago

Sean Hepburn Ferrer Reveals Insights on Audrey Hepburn's Life

Sean Hepburn Ferrer shares insights about his mother, Audrey Hepburn, in his new biography, highlighting her complex life filled with fame, love, and challenges. Despite her global recognition from films like Roman Holiday and Breakfast at Tiffany's, Audrey claimed to have lived a 'terribly boring' life. Sean reflects on their family's unique relationship with her iconic image.

Why it matters: Understanding Audrey Hepburn's legacy can inspire appreciation for her contributions to film and humanitarian efforts, impacting fans and cultural discussions.

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