The Commonwealth Bank of Australia (CBA) has reported a 15% decline in home loan applications since the May federal budget. This drop follows the Albanese government's announcement to reduce generous tax breaks for property investors.

Key Developments

  • The federal government will invest up to $2 million in Call It Out, an online platform for reporting incidents of racism and discrimination against First Nations people.
  • Australia is deploying a team of specialist drone operators and committing an additional $3 million in aid for the search and rescue efforts in the Nepal-Tibet floods.
  • A teenage boy appeared in court following an alleged assault that resulted in a "near-complete amputation" of another boy's hand in Sydney.
  • The Coalition has proposed a new tobacco policy that would cut the excise rate by 80%. Opposition leader Angus Taylor claims it would disrupt organized crime, while Cancer Council Australia and Quit warn it could reverse progress in reducing smoking rates.