| | WEDNESDAY, 8 APR 2020 12:39PMAustralians working from home during the COVID-19 shutdown will now be able to claim 80 cents per hour for the rest of this financial year, after changes made by the Australian Taxation Office.|
|The big four banks have all suffered a rating downgrade due to the COVID-19 fallout, while APRA warns they should cut dividends and bonuses.|
|ASIC has announced it recently obtained wind up orders for three financial services companies, including two financial advice businesses.|
|APRA will not issue a new superannuation licence any time within the next six months, with the prudential regulator keen to avoid the early failure of new super funds at the hands of COVID-19.|
|The extraordinary COVID-19 stimulus package is in front of Parliament today, with what is expected to be a trillion dollar debt being scrutinised by politicians.|
|The Australian government has made public the modelling that is informing its COVID-19 response, revealing why the JobKeeper payment works off a six month timeframe.|
|The consumer watchdog has confirmed the launch of open banking will go ahead at the July 1 deadline as a means to help drive competition.|
|The Australian Taxation Office has confirmed over 361,000 Australians have registered their interest to access their superannuation savings early.|
|ASIC is taking Mayfair 101 to court alleging that the investment manager misled consumers in its advertising.|
|The founder of Charterhill Group, which collapsed in 2014, has been sentenced to 10 years imprisonment, and will serve at least six of these behind bars.|
While there may be uncertainty surrounding the economic implications of the spreading COVID-19 pandemic, one thing is clear; if business leaders are not consistent, empathetic and clear with their response, they should prepare to face the music.
The government's $213 billion stimulus package is set to push up the country's total debt but experts say it is not reason enough to draw down on the sovereign wealth fund.
Australia's superannuation sector is fighting a war on three different fronts, as the economic fallout of COVID-19 continues to bite.
Significant hikes in group insurance premiums have been put down to the Protecting Your Super reforms - with members of four superannuation funds facing premium increases of 34%.
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