Wall Street plunges on dire warnings about US economy and fears of second virus wave

There's been a brutal reality check on Wall Street as a dire outlook on the US economy canceled out earlier investor exuberance. 

The Dow Jones Industrial Average plunged a massive 6.9 percent on rising fears about a second wave of the coronavirus. 

ABC's Peter Ryan says hopes of a rapid V-shaped recovery have been extinguished.

Working from home during COVID19? The Tax Office outlines what can be claimed during pandemic

Australians working from during the COVID19 pandemic could get special tax break in this year's return. 

The Australian Tax Office has calculated a special flat hour rate to cover out of pocket work expenses such as electricity, internet and office equipment. 

But ATO assistant commissioner Karen Foat tells ABC's Peter Ryan that suspicious claims will continue to be scrutinised.

ASIC chairman James Shipton warns on September "cliff" as JobKeeper, loan deferrals unwind

ASIC chairman James Shipton warns the financial system faces enormous pressure when emergency measures of JobKeeper & loan repayment holidays unwind in September. 

Releasing #COVID19 strategy, Mr Shipton tells ABC's Peter Ryan that not all businesses and  borrowers will survive the "cliff" and warns there might not be enough liquidators to deal with corporate collapses.

Consumer confidence rebounds as COVID19 restrictions ease

While the outlook for Australia's economy remains grim, there's been a remarkable bounceback in consumer sentiment as COVID19 lockdown restrictions are gradually eased.
The latest monthly survey from Westpac says confidence has surged with news that the spread of the coronavirus appears to be under control.

Lister to Peter Ryan