1. Big tax cuts on their way.

Big tax cuts are on their way. That’s what we’re told is coming tonight in the Federal Budget. These should kick in by the end of the month and boost total take-home pay by $12 billion in 2020-21. The ABC says: “Under the plan, the upper limit of the 19 per cent personal income tax bracket will rise from $37,000 to $45,000 and the 32.5 per cent marginal tax rate upper threshold will lift from $90,000 to $120,000.Those earning between $45,000 and $90,000 will pocket $1,080 this financial year, while those on more than $90,000 will take home up to $2,565 extra.”

2. How do you get the backdated tax cuts?

How do you get the backdated tax cuts from July? A worker on $85,000 (who’d be entitled to $42 extra a fortnight over 12 months) will instead get tax relief of about $63 each fortnight for the remainder of the financial year, before it drops back to $42 in 2021-22.

This means there’ll be even bigger tax cuts for the eight months from October to 30 June next year!

3. Sydney to go Parisian

On October 16, Sydney will go Parisian, with new regulations that will allow tables and chairs to be put on the footpath outside pubs, cafes and restaurant, in order to bring people back to the city.

The SMH says “more than a dozen pubs, cafes and restaurants [are] taking advantage of new regulations beginning in The Rocks before rolling out to the rest of the city.”

The NSW government is at last changing liquor regulations to allow hospitality venues to use the footpath in just three days, which is a long overdue development. One good thing this Coronavirus has done, is that it is making politicians embrace common sense. 

4. Trump released but Covid cluster spreads

President Trump will be discharged from hospital later today and return to the White House but his press secretary, Kayleigh McEnany and former White House counsellor, Kellyanne Conway (who attended the Rose Garden event last Saturday) have tested positive to Covid-19.

5. Jumps on Wall Street

The three major US indexes have all begun the week positively, with the Dow Jones gaining 465.83 points or 1.68% to 28,148.64, the S&P 500 rising 60.19 points or 1.80% to 3,408.63 and the Nasdaq jumping 257.47 points or 2.32% to 11,332.48.