AUSTRALIAN CURRENCY

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The AUDUSD increased 0.0045 or 0.60% to 0.76 on Friday October 14 from 0.76 in the previous trading session. The AUDUSD changed +0.32% during the last week, +1.24% during the last month and +4.74% during the last year. Historically, the Australian Dollar reached an all time high of 1.10 in July of 2011 and a record low of 0.48 in April of 2001.

New $5 note

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The revamped $5 bill might be just enough to buy a cup of coffee in some parts of Australia, but it comes in a fresh new design with enhanced security features to make life harder for counterfeiters.

The new “fiver” comes with a range of security features, including a world first top to bottom window and security features that can be viewed when the note is tilted.

While the bill maintains the characteristics of the outgoing $5 note, it features a different species of Australian wattle — the Prickly Moses — and a native bird, the Eastern Spinebill.

The rollout of the $5 bill comes after 10 years of research, trials and consultation with the cash handling industry and counterfeit experts.The Reserve Bank’s head of note issue Michael Anderson told AM the aim was to beat counterfeiters at their own game. 

                 

POPULATION

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Australian population grew by 1.4% during the year ended 31 March 2016. Natural increase and NOM contributed 44.8% and 55.2% respectively to total population growth for the year ended 31 March 2016. All states and territories recorded positive population growth in the year ended 31 March 2016 (Bureau Of Statistics, 2016).

Brisbane City 

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Between 2014 and 2015, the population of Greater Brisbane increased by 1.6% (35,200 people). Ipswich had the largest growth of all SA4s in Greater Brisbane, with an increase of 7,400 people. This was followed by Moreton Bay – South (up by 5,700 people) and Brisbane Inner City (4,500).

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TAXES

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The Personal Income Tax Rate in Australia stands at 47 percent. Personal Income Tax Rate in Australia averaged 45.71 percent from 2003 until 2016, reaching an all time high of 47 percent in 2004 and a record low of 45 percent in 2007. Personal Income Tax Rate in Australia is reported by the Australian Taxation Office (Bureau Of Statistics, 2016).

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IT was about the only sweetener in the Turnbull Government’s budget, and today was supposed to be the delivery date. But tax cuts for higher earning Australians are on hold, leaving more than three million voters in tax limbo on the eve of the Federal Election. In handing down its May Budget, the Coalition promised a small slice of income tax relief to Australians earning more than $80,000 a year. The proposal specified the income rate over which earners would have begin paying 32.5 per cent tax, would be raised from $80,000 to $87,000, effectively giving just more than three million tax payers a $6-a-week tax break.
The cut was meant to kick in today, but thanks to Prime Minister Malcolm Turnbull’s eagerness to get to the polls, it wasn’t legislated in time. An Australian Tax Office spokesman told news.com.au because the government had gone into caretaker mode after calling the election, no legislation could be moved to put the tax cut into place.

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