The Bottom Line
Updated Tuesday 20 October 2026
The Treasurer announced draft regulations that would double the consolidated revenue threshold for proprietary company financial reporting to $100 million and lift the gross assets threshold to $50 million, with changes to apply from financial years starting on or after 1 July 2027. The Treasurer claimed the reforms will save business over $210 million in compliance costs each year and described the agenda as the broadest productivity reform program in decades.
The Treasurer is also attending the APEC Finance Ministers' Meeting in Hong Kong, saying global oil prices are well over a hundred dollars a barrel and that the war in the Middle East is pushing up inflation and borrowing costs worldwide. The Treasurer said APEC economies account for over 73 per cent of Australia's trade and that Australia is the region's second largest LNG exporter. cash rate
The RBA has lifted rates four times this year, from 3.60 per cent at the start of 2026 to 4.60 per cent now, a full point of tightening since the last cut in August 2025. ABS figures show the unemployment rate has risen from 4.08 per cent in January 2026 to 4.72 per cent in September, its highest reading in this year's run. private wages trail inflation
The Guardian reports that Assistant Treasurer Daniel Mulino conceded the government knew in July that the ATO was considering banning credit card payments for tax bills, months earlier than previously admitted. Mulino said accepting credit card payments on an ongoing basis would have serious fiscal ramifications for the budget, and The Guardian reports the ban has since been pushed back to July 2027. Labor knew in July
Prime Minister Albanese announced a $6 million Commonwealth commitment to the Channel 7 Telethon Trust for 2026, bringing the government's claimed total to $30 million over five years. $6 million to Telethon public expenditure
Every figure is checked against official data or attributed to the body that announced it. Past editions