Australia’s ongoing economic recovery from the COVID-19 recession – with more people back in work and increased household consumption – has delivered South Australia an improved GST estimate for this financial year. The Federal Government’s Mid-Year Economic and Fiscal Outlook (MYEFO) today shows SA’s estimated GST grant revenues for 2020-21 are $300 million higher. Treasurer…
The Marshall Government has welcomed the latest ANZ/Property Council of Australia survey of property sector professionals – including developers, landlords, architects, planners and engineers – showing confidence in SA has soared to pre-pandemic levels. The survey, taken in the two weeks from November 16 and including the 3-day circuit-breaker, shows local confidence has rebounded to…
Consumer confidence and spending in South Australia has surged, with latest State Final Demand (SFD) figures released today showing a massive 6.7 per cent rise in the three months to the end of September – a strong sign of the state’s ongoing economic recovery from COVID-19. SA’s State Final Demand – a measure of local…
Independent ratings agency S&P today has issued an update that maintains South Australia’s long-term credit rating of AA+ however with a negative outlook. Treasurer Rob Lucas said this was an ‘inevitable consequence’ of the COVID-19 pandemic and the Government’s record $4 billion job-creating stimulus spend to turbo-charge the economy and save as many lives, livelihoods…
Eligible HomeBuilder grant applicants will now have six months to commence construction of their new home or renovation from the date of the contract being signed, following a blanket 3-month extension being granted today. The decision, by the SA Commissioner of State Taxation, follows similar moves in Western Australia and Victoria and comes off…
The 8-day State Government exemption for supermarkets and other essential stores, including pharmacies, across suburban Adelaide to trade extended hours to promote physical distancing will be revoked, following today’s announcement that new COVID-19 restrictions would be eased from Sunday. Treasurer Rob Lucas said the exemption, under the Shop Trading Hours Act 1977, was set…
Late last night, the Commissioner of Police published a direction providing for extended shop trading for supermarkets and other essential stores for the next 6 days – as part of the COVID-19 Stay at Home Direction. Treasurer Rob Lucas’ exemption will, therefore, be issued to cover the remaining 8 days of the recommended 14-day…
Cash grants of $10,000 for eligible small businesses and not-for-profits still hard hit by COVID-19 will be paid from as early as today, as demand for the targeted State Government assistance continues to grow. So far, more than 2000 small businesses and not-for-profit organisations have applied under the Marshall Government’s second round of cash…
South Australian train drivers and other rail staff have voted overwhelmingly in favour of the Marshall Liberal Government’s new enterprise agreement offer, which provides 2 per cent per annum pay rises over the next 3 years. In a ‘huge show of support’ for the exceptionally fair and reasonable offer, 85 per cent of the…
Independent ratings agencies, S&P Global and Moody’s, have provided initial commentary to the market on the Marshall Government’s historic job-creating State Budget 2020-21, which was handed down yesterday. S&P Global (AA+) reported the Government’s $4 billion economic stimulus (which leverages a further $1 billion in Commonwealth and business investment) as ‘valuable support’ for businesses, despite…