National Australia Bank modelling has cast doubt on the belief the tax refunds that will soon start flowing into taxpayers’ bank accounts will stimulate the economy in a meaningful way. The Government’s tax cuts passed through Parliament last week, with stage one soon to be seen in bank accounts as people lodge their tax returns. On past behaviour, UBS economists …

Qatar has agreed to buy “tremendous amounts of military equipment” and Boeing planes from the United States following a visit by Gulf Nation’s Emir to the White House, according to President Donald Trump. The weapons and commercial deals are tipped to cost tens of billions of dollars, as Mr Trump touted agreements with Qatar — a nation that is regarded as …

The United Kingdom’s ambassador to the United States, Sir Kim Darroch, has quit his post a day after US President Donald Trump labelled him “wacky”, “pompous” and “very stupid”. Sir Kim came under fire from Mr Trump after the leak on Sunday of official documents he had sent back to the UK Government that described the White House as “dysfunctional” and …

The Federal Government is coming under pressure to make changes to the age pension, as a growing number of baby boomers are expected to leave the workforce over the next decade. Analysis by the Parliamentary Budget Office (PBO) predicts an ageing population will require an increase in government spending of $16 billion by 2029. More than $9 billion of that …

In the wee small hours, long after those most likely to have their tennis-loving senses offended had finished their Bovril and shortbreads and turned in, Nick Kyrgios again produced the kind of performance that inspires open-mouthed awe from some, undisguised disdain from many others and gives TV programmers grey hairs. Kyrgios didn’t beat Rafael Nadal. Not this time. Nor did …

A man charged with terror offences planned to create an Islamic State (IS) base in the Blue Mountains and encourage fighters to launch “guerilla-stye” attacks in Sydney, court documents allege. Isaak el Matari, 20, had his matter heard in Parramatta Local Court this Thursday charged with three offences including being a member of IS and preparing a terrorist act. He …

Central bank interest rate cuts, such as the Reserve Bank’s plumbing of a new historic low of 1 per cent, generally inspire one of two emotions. Option 1: Mild celebration among homebuyers. The 0.25 percentage point cut should deliver a $700 a year saving on a $400,000 loan, depending on the largesse of the lender. Option 2: Mild irritation for …

One of the three men arrested during counterterrorism raids in Sydney’s west this morning was planning an attack on prominent Harbour City buildings, police allege. Isaak el Matari, 20, was taken into custody this morning as part of the operation, which targeted suburbs including Canada Bay, Chester Hill, Greenacre, Green Valley, Ingleburn and Toongabbie. Police allege he had a range …

Unsubstantiated or higher-than-expected tax deductions relating to cars, travel, clothing, mobile phone and internet use, and rental properties are among the top claims the Australian Taxation Office (ATO) will be eyeing this tax time. Each year, almost 14 million Australians lodge income tax returns and claim tens of billions of dollars in tax deductions, the highest being for work-related expense …

Strathfield MP Jodi McKay has been elected as the New South Wales Labor leader with a clear majority. Ms McKay defeated Kogarah MP Chris Minns in a caucus vote 29 to 21, and sealed the deal by also winning 63 per cent of the votes of 10,800 rank-and-file members. It means that for the first time in NSW, two women …