Economy

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Australia's inflation landscape experienced a slight reprieve in April, according to the latest Consumer Price Index (CPI) data released today. The figures reveal that annual inflation has edged down to 4.2% from March's 4.6%, a development that MLC Senior Economist Bob Cunneen attributes primarily to a reduction in fuel prices.

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“This moderation in price pressures largely reflects lower fuel prices in April,” Cunneen noted, highlighting the impact of the Federal Government's temporary cut in the fuel excise tax by 26 cents per litre. This measure, which is set to last until the end of June, has played a crucial role in easing the burden on consumers at the pump.

The Australian Bureau of Statistics (ABS) echoed this sentiment in its media statement, pointing out that “automotive fuel prices fell 7.0 per cent from March to April, after rising by 32.8 per cent in the previous month.” Despite this decline, the ABS cautioned that “automotive fuel prices are still 23.5 per cent higher compared to February and before the impact of the Middle East conflict.”

While the drop in fuel prices has provided some relief, Cunneen and the ABS both warn of emerging challenges in other sectors. “Regrettably, there are escalating price pressures in transport and construction costs that are starting to emerge,” Cunneen stated. The ABS further elaborated, saying, “The impact of higher oil prices has also been seen in products and services with high freight and logistics costs, such as parcel delivery and building materials.”

Postal services and new dwelling construction have particularly felt the pinch, with prices increasing by 12.4% and 4.7%, respectively, compared to a year ago. These figures underscore the complex dynamics at play in Australia's inflationary environment, where gains in one area are offset by pressures in another.

The Reserve Bank of Australia (RBA) faces a challenging task in navigating these waters. Its preferred inflation measure, the Trimmed Mean, recorded an annual price rise of 3.4% in April, up slightly from March's 3.3%. This figure remains above the RBA's target range of 2% to 3%, traditionally prompting interest rate hikes to temper inflation.

However, Cunneen suggests that the case for another immediate rate increase is not compelling. “The RBA has already raised interest rates by 0.75% this year in three consecutive moves (February, March & May),” he explained. “Based on April’s CPI data, the case for another interest rate rise at June’s RBA meeting is not compelling.”

Looking ahead, the RBA forecasts that headline inflation could peak at 4.8% by June 2026, before gradually aligning with the target range over the next year. This forecast hinges on several assumptions, including global oil prices peaking at US$100 per barrel and then declining to US$75 as the Iran conflict abates. The potential for an agreement between Iran and the USA lends some optimism to this outlook, though it remains contingent on diplomatic resolutions.

Cunneen noted the complexity of these forecasts, stating, “This ‘baseline’ forecast is dependent on global oil prices peaking at US$ 100 per barrel and then grinding down to US$ 75 over coming years with the Iran War ending.” He added that rational decision-making by both Tehran and Washington would be crucial to achieving this scenario.

While an additional 0.25% interest rate rise by the RBA remains a possibility this year given Australia's persistent inflation, Cunneen believes that June's meeting is likely to see no change. As the nation grapples with a mix of easing and escalating pressures, policymakers and consumers alike will be closely monitoring the evolving economic landscape.

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Australia's inflation landscape experienced a slight reprieve in April, according to the latest Consumer Price Index (CPI) data released today. The figures reveal that annual inflation has edged down to 4.2% from March's 4.6%, a development that MLC Senior Economist Bob Cunneen attributes primarily to a reduction in fuel prices.

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Australia's latest Consumer Price Index (CPI) data has sparked a flurry of analysis from economic experts, revealing a complex picture of the nation's inflationary landscape. State Street, a global financial services provider with an impressive US$54.5 trillion in assets under custody and administration and US$5.5 trillion in assets under management, has offered critical insights into the implications of this data for the Reserve Bank of Australia (RBA) and the broader economic environment.

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Dwyfor Evans, Head of APAC Macro Strategy at State Street Markets, highlighted the nuanced nature of the report. "A weaker than expected April inflation report cannot mask the continued divergence between energy impacted headline prices and somewhat more tempered cost inflation," he said. This divergence is evident in the headline CPI, which registered at 40 basis points, falling short of the predicted 60 basis points. This shortfall suggests that the direct impact of previously surging fuel prices is beginning to recede.

However, Evans cautioned that this does not necessarily spell relief for the RBA. "This gives the RBA only modest room for optimism as the continued rise in core prices towards 3.5% will bias rates higher, particularly on any evidence that inflation expectations become unanchored," he added. Despite some signs of a weakening employment market, the persistent pressure on core prices means that the Reserve Bank must remain vigilant about inflationary trends.

Krishna Bhimavarapu, an APAC Economist at State Street Investment Management, echoed these sentiments, noting the complexity of the current economic scenario. "Today’s downside surprise in the headline CPI is welcome and likely cements the case for RBA on hold in June," Bhimavarapu remarked. However, he pointed out that the rise in trimmed mean CPI could indicate emerging secondary inflationary effects, which are a cause for concern.

One significant factor that could exacerbate inflationary pressures is the potential for an El Niño event. Bhimavarapu explained, "A high probability of El Niño is still the more meaningful inflationary concern for the year. Even though the relationship is nonlinear, El Niño episodes are typically associated with weaker crop yields, which poses upside risks to food prices." Given that food constitutes approximately 17% of the CPI basket, any increase in food prices could have a substantial impact on overall inflation, potentially triggering broader second-round inflationary pressures throughout the economy.

The mixed signals from the latest CPI data present a challenging landscape for policymakers and investors alike. On one hand, the moderation in headline inflation offers a glimmer of hope that the worst of the energy price shocks may be behind us. On the other hand, the upward trajectory in core inflation and the looming threat of El Niño underscore the need for continued vigilance.

For the RBA, these developments suggest a cautious approach to monetary policy in the coming months. While the central bank may find some justification for holding rates steady in the short term, any signs of unanchored inflation expectations or further upward pressure on core prices could prompt a reassessment. The interplay between these domestic inflationary trends and global economic conditions will be crucial in shaping the RBA's policy decisions.

Investors, meanwhile, are left to navigate this uncertain terrain, balancing the potential for rate hikes against the backdrop of an evolving inflationary environment. The insights from State Street's experts highlight the importance of staying informed and adaptable in the face of shifting economic dynamics.

As Australia grapples with these inflationary challenges, the coming months will be critical in determining the trajectory of both monetary policy and the broader economy. With experts like Evans and Bhimavarapu providing valuable analysis, stakeholders across the financial landscape will be keenly watching for any further developments that could influence the nation's economic outlook.

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Australia's latest Consumer Price Index (CPI) data has sparked a flurry of analysis from economic experts, revealing a complex picture of the nation's inflationary landscape. State Street, a global financial services provider with an impressive US$54.5 trillion in assets under custody and administration and US$5.5 trillion in assets under management, has offered critical insights into the implications of this data for the Reserve Bank of Australia (RBA) and the broader economic environment.

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In a revealing analysis of the current job market, Martin Herbst, CEO of JobAdder, has provided insights following the release of the latest Labour Force Data from the Australian Bureau of Statistics (ABS). The data indicates a troubling trend for job seekers, with unemployment rates on the rise and a decline in job creation and permanent roles.

" ["fulltext"]=> string(3266) "

"The ABS confirmed today that unemployment is up, and we know in the market that job creation and permanent roles are also both trending down," Herbst stated. "That whole picture tells you where the market is heading, and it is probably not what job seekers are hoping to hear in this environment."

The latest figures serve as a stark reminder of the challenges facing the Australian job market. According to Herbst, JobAdder’s Job Market Conditions Index currently sits at 48.1, signalling a market that is in "mixed territory with a slight edge for employers." This index reflects the growing competition for fewer available roles, a situation that is causing significant pressure on job seekers. "There are fewer roles, and more competition for each one. That's the pressure jobseekers are feeling that unemployment alone doesn't capture," he explained.

The current economic landscape presents a complex scenario for both employers and job seekers. While the recent federal Budget provided some relief through cost-of-living and small business support measures, Herbst cautions that it is still too early to see these efforts translate into increased hiring confidence. "While last week's Budget backed cost-of-living and some small business support, it’s too early to see that land in hiring confidence," he noted. "But when businesses feel stable, job creation follows. This is what everyone is holding out for."

The government’s Budget, announced last week, aimed to provide a safety net for struggling Australians and small businesses amid rising living costs. However, the immediate impact on employment figures remains uncertain. Economic analysts suggest that while such measures are crucial, their effects on job creation and employment rates may take time to materialise.

The current job market dynamics underscore the importance of strategic planning for both job seekers and employers. For job seekers, understanding the competitive landscape is key to navigating job applications and securing employment. On the other hand, employers are urged to consider the long-term benefits of stabilising their operations, which could lead to increased job creation down the line.

Herbst's insights highlight the delicate balance required to foster a robust job market. As businesses grapple with economic uncertainties, the hope is that stabilisation efforts will eventually lead to more favourable conditions for job creation. Until then, job seekers are likely to face continued challenges, with heightened competition for available roles.

The Labour Force Data from the ABS provides a critical snapshot of the current employment situation, serving as a valuable tool for policymakers, businesses, and job seekers alike. As the nation navigates these challenging times, the focus remains on fostering conditions that will lead to sustainable job growth and economic stability.

In summary, the latest data from the ABS, coupled with insights from industry leaders like Martin Herbst, paints a picture of a job market in flux. With unemployment on the rise and job creation on the decline, the path forward requires careful consideration and strategic action from all stakeholders involved.

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• Yes

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In a revealing analysis of the current job market, Martin Herbst, CEO of JobAdder, has provided insights following the release of the latest Labour Force Data from the Australian Bureau of Statistics (ABS). The data indicates a troubling trend for job seekers, with unemployment rates on the rise and a decline in job creation and permanent roles.

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In a surprising turn of events, the latest Labour Force data has revealed a significant rise in unemployment, exceeding expectations and signalling a potential shift in the labour market narrative. According to Krishna Bhimavarapu, APAC Economist at State Street Investment Management, this development could have substantial implications for the Reserve Bank of Australia's (RBA) monetary policy decisions in the coming months.

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"Today’s jump in unemployment, well above the 4.3% consensus and even our 4.4% call, signals that the labour market narrative may be shifting faster than expected," Bhimavarapu stated. This unexpected rise in unemployment has caught many analysts off guard, as it challenges the previously held consensus and forecasts.

The newly released data indicates that the unemployment rate has risen beyond the anticipated 4.3%, with State Street's own projections having been slightly higher at 4.4%. The actual figures, however, surpassed these estimates, suggesting that the labour market may be experiencing more profound changes than previously thought.

Bhimavarapu further elaborated on the implications of this data for the RBA's decision-making process. "It validates the RBA’s inclination to hold in June and raises the bar significantly for a change," he explained. The RBA had been expected to maintain its current stance, but the latest unemployment figures could now prompt a reevaluation of future policy moves.

The rise in unemployment is not the only concern on the horizon. Bhimavarapu highlighted another pressing issue that could impact the economic landscape in the near term. "Even if the Iran conflict ends soon as we expect, the bigger near-term story remains the emerging inflation shock," he noted. This potential inflationary pressure could complicate the RBA's efforts to balance economic growth and price stability.

State Street's high-frequency tracker has already detected signs of a sharp pickup in inflation over the next three months. This development could further strain the labour market and complicate the RBA's policy decisions. Bhimavarapu's analysis suggests that the central bank may face increasing challenges in navigating these economic uncertainties.

Looking ahead, Bhimavarapu offered insights into the potential trajectory of unemployment in Australia. "Further ahead, we still see unemployment drifting toward 4.8% by year-end," he predicted. If this forecast materialises, it could have significant implications for the RBA's policy outlook.

The prospect of rising unemployment, coupled with emerging inflationary pressures, could prompt a shift in the RBA's approach. "It will not just be against expectations of the market and the government, but also of the RBA’s," Bhimavarapu remarked. This potential pivot to easing could mark a departure from the central bank's current stance, as it seeks to address evolving economic challenges.

The unexpected rise in unemployment and the looming inflation shock underscore the complexities facing policymakers in the current economic environment. As the RBA grapples with these issues, market participants and analysts will be closely monitoring future developments to gauge the potential impact on Australia's economic trajectory.

The latest Labour Force data has unveiled a surprising rise in unemployment that surpasses expectations and raises questions about the future direction of the labour market. State Street's Krishna Bhimavarapu highlights the implications of this development for the RBA's policy decisions, emphasising the potential challenges posed by emerging inflationary pressures. As the economic landscape continues to evolve, the central bank may need to reassess its approach to navigate these uncertainties effectively.

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In a surprising turn of events, the latest Labour Force data has revealed a significant rise in unemployment, exceeding expectations and signalling a potential shift in the labour market narrative. According to Krishna Bhimavarapu, APAC Economist at State Street Investment Management, this development could have substantial implications for the Reserve Bank of Australia's (RBA) monetary policy decisions in the coming months.

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The spotlight is on Australia's manufacturing sector during Australian Made Week, held from May 18 to 24, as business and government leaders emphasise the need to bolster local capabilities, fortify supply chains, and invest in skills to build a more resilient economy. This initiative comes at a crucial time when the nation is grappling with the challenges of global supply chain dependencies and the need for economic self-sufficiency.

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James Beeson, the chief executive of Earlypay, is among those advocating for a renewed focus on domestic production. He argues that purchasing Australian-made products should be seen as a vital component of a broader economic strategy aimed at enhancing productive capacity and reducing reliance on foreign supply chains. "Over recent decades, Australia has become heavily reliant on overseas supply chains for many critical goods," Beeson remarked. "In the short term, those dependencies are difficult to unwind, but the lesson is clear. If we do not continue building domestic manufacturing capability, we leave ourselves exposed when global supply chains come under pressure."

Beeson further emphasised that Australian Made Week serves as a timely reminder that manufacturing is not merely about national pride but is intrinsically linked to jobs, investment, and economic security. "There may be a cost to buying Australian-made in some categories, but that spending supports local businesses, local jobs, and investment in a productive capacity," he explained. "If we are serious about strengthening Australian manufacturing, businesses need the confidence and working capital to invest in equipment, people, and production capacity."

The call for action coincides with recent announcements from the Federal Budget, which includes measures designed to alleviate business pressures. Among these are productivity reforms aimed at reducing regulatory burdens by $10.2 billion annually. Additionally, the Budget offers cash-flow support, allowing eligible companies that incur losses from 2026-27 to claim refunds against taxes paid in the previous two income years—a move expected to benefit up to 85,000 companies, primarily small businesses.

Despite welcoming these measures, Beeson insists that Australia requires a more comprehensive plan to support productive investment in industries where the country can excel. "The Budget measures are useful, particularly anything that improves cash flow or gives small businesses more certainty around investment," he acknowledged. "But we also need to think seriously about where Australia can excel. Agriculture, energy, and defence are all areas where local capability matters and where stronger manufacturing capacity can support long-term economic resilience."

A crucial aspect of this shift, Beeson notes, is the need for robust vocational education pathways to equip workers with the skills necessary for modern manufacturing. "We cannot just say we want to make more things in Australia if we do not also have the people and skills to do it," he stated. "University is not the only pathway. We need stronger vocational education pathways that prepare people for higher-skilled jobs in modern manufacturing, automation, and production."

Echoing these sentiments, Ben Lazzaro, chief executive of the Australian Made Campaign, underscores the broader impact of supporting local products. "When consumers choose Australian Made, they’re actively supporting local economies, strengthening communities, and helping Australian businesses thrive," Lazzaro said. "Supporting local has never been more important. Australian Made Week is about calling on shoppers and businesses to back the home team and look for the Australian Made logo because Australian Made makes Australia."

Research highlighted by the Australian Made Campaign suggests that if Australians spent an additional $20 weekly on locally made products, it could inject $11 billion into the economy and create 20,000 jobs. Lazzaro points out that the Australian Made logo remains a potent commercial tool, with Roy Morgan Research indicating that 99 per cent of Australians aged 18 and over are aware of it.

In summary, the collective push from industry leaders during Australian Made Week underscores a critical message: backing Australian manufacturers not only supports local jobs and strengthens business confidence but also lays the foundation for further investment and growth across the economy.

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The spotlight is on Australia's manufacturing sector during Australian Made Week, held from May 18 to 24, as business and government leaders emphasise the need to bolster local capabilities, fortify supply chains, and invest in skills to build a more resilient economy. This initiative comes at a crucial time when the nation is grappling with the challenges of global supply chain dependencies and the need for economic self-sufficiency.

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In the wake of the Federal Budget announcement last night, significant reforms are set to reshape the financial landscape for Australians, touching on everything from tax deductions to superannuation and health care. MLC has released a comprehensive analysis detailing these changes and their potential impacts on financial advisers and their clients.

" ["fulltext"]=> string(4254) "

Tax and cost-of-living measures

Among the most notable proposals is the introduction of a $1,000 instant tax deduction for work-related expenses, alongside a $250 annual Working Australians Tax Offset. These measures aim to alleviate the financial burden on working Australians. Additionally, the lowest marginal tax rate is slated to decrease to 15% from 1 July 2026 and further to 14% from 1 July 2027, with corresponding increases in Medicare levy thresholds.

MLC's analysis suggests these tax changes could significantly impact after-tax income for many Australians. "The introduction of a standard deduction for work-related expenses simplifies the process for many taxpayers, while still allowing for higher claims where applicable," the analysis notes. However, it also warns that "substantiation may still be required where higher deductions are claimed."

Investment and property reforms

From 1 July 2027, the 50% Capital Gains Tax (CGT) discount will be replaced with Consumer Price Index (CPI) indexation, and a minimum 30% tax rate on capital gains will be introduced. Negative gearing will face restrictions for newly acquired established residential properties, with losses permitted to be carried forward.

These changes are expected to have profound effects on investment strategies. "The adjustments to CGT and negative gearing will alter how capital gains and investment property losses are treated over time," MLC's report states. Financial advisers may need to reassess investment outcomes and models as a result. "These changes may affect the way investment outcomes are assessed and modelled," the analysis highlights.

Implications for trusts and small businesses

A new 30% minimum tax on discretionary trusts will commence on 1 July 2028, with transitional relief available. Additionally, the instant asset write-off for eligible small businesses will be permanently set at $20,000.

These adjustments could prompt businesses and individuals to review their asset ownership structures. "Updates to discretionary trust taxation may prompt a review of existing structures and consideration of alternative strategies," MLC advises. This may particularly impact small businesses and individuals relying on these trusts for tax efficiency.

Superannuation and health care adjustments

The Low-Income Superannuation Tax Offset will see expansion from 1 July 2027, providing some relief to low-income earners. However, older Australians may face increased costs as higher private health insurance rebates are set to be removed from April 2027.

The health sector is also poised for significant reforms, with changes to the National Disability Insurance Scheme (NDIS), aged care, and Support at Home services. These reforms are designed to expand services and adjust eligibility over time. "Changes to private health insurance rebates may affect premium costs for some older Australians," MLC's analysis warns, adding that "updates to aged care, disability support and government payments may affect eligibility, access and out-of-pocket costs across these services over time."

Advisers and clients brace for change

For financial advisers, these sweeping changes necessitate a thorough review of client portfolios and strategies. "The proposed changes may result in a review of asset ownership structures across super, trusts, companies, and individuals," MLC suggests. Advisers will need to guide clients through these transitions, ensuring that they remain compliant while optimising their financial outcomes.

Clients, on the other hand, will need to adapt to the new financial landscape. The standard deduction for work-related expenses and the Working Australians Tax Offset are expected to influence after-tax income. Meanwhile, changes to CGT and negative gearing will require a reassessment of investment property strategies.

As Australians digest these proposed changes, the financial sector is poised for a period of adaptation and realignment. With the potential for significant impacts on both advisers and clients, the coming years will be critical in navigating the evolving financial terrain.

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In the wake of the Federal Budget announcement last night, significant reforms are set to reshape the financial landscape for Australians, touching on everything from tax deductions to superannuation and health care. MLC has released a comprehensive analysis detailing these changes and their potential impacts on financial advisers and their clients.

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["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(3) ["label"]=> string(17) "First article URL" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [8]=> object(stdClass)#11468 (33) { ["id"]=> int(8) ["title"]=> string(18) "Second article URL" ["name"]=> string(18) "second-article-url" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-07-08 05:42:04" ["created_user_id"]=> int(2351) ["ordering"]=> int(0) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#10846 (3) { ["data":protected]=> object(stdClass)#11088 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#10860 (3) { ["data":protected]=> object(stdClass)#11083 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(3) ["label"]=> string(18) "Second article URL" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [9]=> object(stdClass)#11467 (33) { ["id"]=> int(9) ["title"]=> string(17) "Third article URL" ["name"]=> string(17) "third-article-url" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-07-08 05:42:42" ["created_user_id"]=> int(2351) ["ordering"]=> int(0) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#11089 (3) { ["data":protected]=> object(stdClass)#11079 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#11082 (3) { ["data":protected]=> object(stdClass)#11087 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(3) ["label"]=> string(17) "Third article URL" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [4]=> object(stdClass)#11465 (33) { ["id"]=> int(4) ["title"]=> string(9) "Video URL" ["name"]=> string(9) "video-url" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-06-19 05:54:21" ["created_user_id"]=> int(2351) ["ordering"]=> int(1) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#11086 (3) { ["data":protected]=> object(stdClass)#11084 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#11085 (3) { ["data":protected]=> object(stdClass)#11121 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(2) ["label"]=> string(9) "Video URL" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [6]=> object(stdClass)#11453 (33) { ["id"]=> int(6) ["title"]=> string(33) "Image Caption / Video description" ["name"]=> string(31) "image-caption-video-description" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-06-25 16:29:55" ["created_user_id"]=> int(2351) ["ordering"]=> int(2) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#11081 (3) { ["data":protected]=> object(stdClass)#11123 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#11120 (3) { ["data":protected]=> object(stdClass)#11125 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(2) ["label"]=> string(33) "Image Caption / Video description" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [3]=> object(stdClass)#11474 (33) { ["id"]=> int(3) ["title"]=> string(6) "Status" ["name"]=> string(6) "status" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-06-20 01:45:26" ["created_user_id"]=> int(2351) ["ordering"]=> int(3) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#11122 (3) { ["data":protected]=> object(stdClass)#11130 (1) { ["options"]=> object(stdClass)#11128 (2) { ["options0"]=> object(stdClass)#11127 (2) { ["name"]=> string(8) "Inactive" ["value"]=> string(1) "0" } ["options1"]=> object(stdClass)#11129 (2) { ["name"]=> string(6) "Active" ["value"]=> string(1) "1" } } } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#11124 (3) { ["data":protected]=> object(stdClass)#11132 (10) { ["hint"]=> string(0) "" ["class"]=> string(9) "btn-group" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(2) ["label"]=> string(6) "Status" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [5]=> object(stdClass)#11370 (33) { ["id"]=> int(5) ["title"]=> string(22) " Essential information" ["name"]=> string(21) "essential-information" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-06-25 06:10:20" ["created_user_id"]=> int(2351) ["ordering"]=> int(4) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#11126 (3) { ["data":protected]=> object(stdClass)#11134 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#11131 (3) { ["data":protected]=> object(stdClass)#11136 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(2) ["label"]=> string(22) " Essential information" ["description"]=> string(35) "3 points that summarize the article" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [2]=> object(stdClass)#11473 (33) { ["id"]=> int(2) ["title"]=> string(14) "Embedded Video" ["name"]=> string(14) "embedded-video" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-06-20 01:43:32" ["created_user_id"]=> int(2351) ["ordering"]=> int(5) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#11133 (3) { ["data":protected]=> object(stdClass)#11138 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#11135 (3) { ["data":protected]=> object(stdClass)#11140 (10) { ["hint"]=> string(29) "Paste your embedded code here" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(2) ["label"]=> string(14) "Embedded Video" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(106) "/invest-money/economy/federal-budget-introduces-sweeping-changes-to-tax-investment-and-health-care-sectors" ["image"]=> string(124) "https://res.cloudinary.com/momentum-media-group-pty-ltd/image/upload/v1778934886/pexels-hellojoshwithers-15831202_jso6gk.jpg" ["image_alt"]=> string(86) "Federal Budget introduces sweeping changes to tax, investment, and health care sectors" } }