In this episode, Paige Estritori covers key financial insights for Monday, May 27, 2024. Joe Longo from ASIC emphasizes AI firms' need to honor regulatory obligations, despite the technology's limitations and advantages. Consumer trends reveal 80% of Australians plan to save their upcoming Stage 3 tax pieces due to increasing living costs. Meanwhile, the Insurance Council of Australia seeks quick solutions for escalating insurance costs in flood-prone areas, introducing the Insurance Affordability and Natural Hazard Risk Reduction Taskforce. Lastly, controversial issues around the superannuation tax cap policy, including disputes on indexation and unrealised gains taxation, are under discussion as the bill advances through the Senate.
