AAP

Australia will reduce the number of international flights entering the country to ease pressure on hotel quarantine amid Melbourne's coronavirus outbreak.

Alumina Limited says its joint venture with aluminium giant Alcoa has been assessed $212 million in back taxes over historical alumina sales to a government-operated aluminium plant in Bahrain.

Scott Morrison has confirmed there will be a further phase of income support once coronavirus welfare programs expire in September.

Aussie Home Loans recorded a 90 per cent year-on-year increase in Western Australian home loan inquiries in June, following federal and state government housing stimulus packages.

Oil prices settled little changed overnight as demand concerns due to a new surge in coronavirus cases overshadowed US government forecasts for lower production.

Gold bounced back overnight, within a striking distance of the key $US1,800 per ounce level, as a sharp jump in COVID-19 cases boosted hopes for more accommodative monetary policy measures and demand for the safe-haven metal.

The Australian share market has closed flat despite strong overseas leads as traders ponder the impact of a sharp rise in new coronavirus cases in the country's second-most populous state.

International arrivals into Western Australia are being capped at 525 people each week to avoid straining the state's COVID-19 hotel quarantining system.

The Reserve Bank of Australia has kept the cash rate at a record low 0.25 per cent at its monthly board meeting as it assesses the extent of recovery after the coronavirus-driven economic downturn.

E-commerce provider Afterpay is raising $800 million in a share sale as it looks to invest in growing sales and expand into new markets.

Engineering contractor Downer has been awarded contracts worth $420 million to maintain roads in South Australia's Metropolitan Zone and Regional North Zone.

Shares have gained about 1.0 per cent early in trade on the Australian market after solid gains on Wall Street overnight following a rebound in US services industry activity.

Oil futures ended largely steady overnight as positive economic data supported prices, while a spike in coronavirus cases in the United States that could curb fuel demand pressured prices.

Gold overnight edged towards a near 8-year high hit last week as a spike in coronavirus cases kept safety demand elevated, although robust equities and positive US services sector data limited the metal's advance.

Hopes of a sellout 60,000 crowd for the July 19 western derby is under threat after the state government announced it is considering delaying the relaxation in COVID-19 restrictions.

Premier Mark McGowan has written to the prime minister urging the federal government to withdraw its support for Clive Palmer's Federal Court challenge against the state's border closures.

The Australian share market has snapped its four-day winning streak, bypassed by broader gains in the Asia-Pacific region including a big rally in China.

Qantas and Afterpay are partnering in a project that will allow Afterpay customers to earn Qantas Points on their purchases using the buy now, pay later platform.

Federal parliament has a new member, while one its most senior figures has announced he is leaving.

Australia's recycling industry is on the brink of an overhaul as the federal government hopes to create more than 10,000 jobs through a $190 million fund.

Cinema and hotel operator Event says a majority of its cinemas in Australia and New Zealand have now reopened after being closed since March due to COVID-19 restrictions.

Shares have edged lower early on the Australian market after global markets closed weaker last week on concerns about continuing growth in COVID-19 cases in the US.

Gold prices were steady as positive US and Chinese economic data were countered by accelerating numbers of coronavirus cases in the US.

Oil fell below $US43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand growth could stall, although crude was still headed for a weekly gain on lower supply and wider signs of economic recovery.

After commuting thousands, if not millions of kilometres from his home in Perth to Canberra since 2007, Finance Minister Mathias Cormann is calling it a day.

Australian shares have finished higher for a fourth straight day, in a mostly quiet session that served as a break from recent extreme volatility.

Australian retail trade expanded more in May than originally anticipated, with retail turnover rising 16.9 per cent to $28.97 billion.

Indigenous leaders and governments are close to reaching a deal on new targets to improve the health, education and job prospects of Aboriginal and Torres Strait Islander people.

Finance Minister Mathias Cormann will reportedly quit federal politics after the October 6 budget.

Australian farm produce and seafood worth about $3 billion will continue to be exported on special flights until at least the end of the year.

Australian shares have registered solid gains at the start of trade after US markets took heart from better-than-expected jobs figures there.

Oil futures gained more than 2 per cent overnight, supported by a drop in US unemployment and a drawdown in crude inventories, but a resurgence in US coronavirus infections fanned concerns that economic activity will weaken in coming weeks.