The new shutdown clauses in modern awards will come into effect from 1st May 2023.
The most significant change for many employers will be removing the ability for an employer to direct an employee to take a period of “leave without pay” if that employee does not have enough annual leave accrued to cover the shutdown period.
Some modern awards currently have this provision, although most do not.
The RBA has posted an informative article highlighting the effects of the COVID-19 pandemic on fixed-rate housing loans. It found that during COVID, the value of fixed-rate housing loans increased substantially, which has delayed the effect of the higher cash rate on borrowers’ cash flows. A key issue for the economic outlook, and by implication financial stability, relates to the ability of borrowers with fixed-rate loans to adjust to substantially higher borrowing costs when their fixed-rate mortgages expire. Borrowers with expiring fixed-rate loans face large increases in their repayments. Fixed-rate loans have riskier characteristics than variable-rate loans.
This is what Google is suggesting they will be doing to help us identify what they call 'synthetic' images. We're not really in a place to know if this will be the best solution....
