Australia markets closed

Are fines tax deductible? $2bn virus relief paid to dead people

It's all happening in finance this Friday morning. (Images: getty)

Good morning – here’s what you need to know.

Markets: Wall St was buoyed by easing of restrictions on US banks, with all three major indexes finishing higher overnight. Australian markets are expected to follow Friday morning, with SPI200 futures up 1.21 per cent at 8am AEST.

The Australian dollar was buying 68.88 US cents 8am AEST, up on Thursday's closing price of 68.65 US cents.

Are traffic fines tax deductible? We settle this common tax-time question once and for all.

The average Australian is $10,000 poorer because of the coronavirus. It's the largest fall in wealth since 2011 – and the job market is still looking pretty bad.

With so many Australians in financial strife, many of them will be thinking of dropping private health insurance. Our expert Nicole Pedersen-McKinnon is imploring them to consider these five things before pulling the trigger.

One Australian city charges a tax of $945 per toilet each year. And you might be surprised to learn it is a common practice around Australia.

Australia's biggest tech company is constructing the world's tallest hybrid timber building. Atlassian has revealed plans for a 40-level tower in downtown Sydney to serve as its new global headquarters.

US has paid AU$2 billion of Covid-19 relief to dead people. A government watchdog analysis showed almost 1.1 million payments meant to assist those struggling with the recession have actually been paid to the deceased.

Have a great day, everyone.

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