Sharemarket has rallied 20% since March lows and appears to have stabilised. Looming recession was predicted by markets many months ago so the general consensus is this is a great buying opportunity.

All 4 major  banks are paying great yields with franking credits that far exceeds the return on bank interest. Listed Fixed interest products are also worth looking at for super funds and tax free pension funds. Resource sector still shaky with BHP the only stock in this sector worthy of any discussion

• ATO has issued a warning to big business regarding planning measures undertaken using “cross-boarder” finance arrangements.
•  Total assets held in superannuation funds fell over the December 2008 quarter by $87.2 billion to a total of $1.05 trillion, representing a 7.6 per cent fall. 
•  Draft GSt ruling has been released which suggests that stock taken for private use is subject to GST - this amy affect farmers.

• Data released by the Australian Bureau of Statistics (ABS) showed the Consumer Price Index for the year to March 2009 to be 2.5%.  The March quarter represented a 0.1% increase over the previous quarter.
•  The Unemployment Rate for March 2009 released by the ABS was 5.4%.  This is an increase of 1.3% increase over the year from March 2008. 
•  Building Approvals have decreased by 37.9% to the year end February 2009.