Economy
‘Not right’: Australia urged to wind back tax breaks
6 August
Australian workers could be locked out of home ownership unless property concessions are reined in, but any reform would require careful manoeuvring from the government. As the federal government seeks ways to reinvigorate the nation’s languishing...[Read More]
Big bank’s tax vision bucks business lobby, coalition
16 July
Superannuation concession limits and a wealth tax could unlock national economic productivity, Australia’s largest bank says, but others call them a “war on aspiration”. Many have been some surprised and some incensed by the Commonwealth...[Read More]
Super funds spared billions after US axes ‘revenge tax’
2 July
Australian superannuation funds are breathing a sigh of relief after the US dropped a so-called “revenge tax” on foreign investors. The super industry had been ringing alarm bells over section 899 of President Donald Trump’s proposed “big...[Read More]
A group of wealthy people ready to buy TikTok: Trump
2 July
US President Donald Trump has said in an interview that he has found a buyer for TikTok, a group of “very wealthy people” who he will reveal in about two weeks. Trump made the remarks in an interview on Fox News Channel’s Sunday Morning...[Read More]
Renewables, AI rules top productivity reform wishlist
21 May
Regulating the reckless use of artificial intelligence, speeding up approvals for renewable energy projects, and changing privacy and corporate tax laws will be targeted in a push to boost the Australian economy. The Productivity Commission named 15...[Read More]
Budget focuses on power bills, tax cuts and healthcare
26 March
FEDERAL BUDGET AT A GLANCE * Budget deficit of $27.6 billion this financial year * Commonwealth gross debt to rise to $940 billion (33.7 per cent of GDP) in 2024/25 before cracking $1 trillion the year after * Net debt to rise to $556 billion in...[Read More]
‘Unfair, unrealistic’: young Aussies bear budget burden
26 March
Australian workers will be increasingly relied upon to prop up ballooning federal government spending, despite tax cuts handing back two years of bracket creep. The “modest” cuts announced by Treasurer Jim Chalmers in the federal budget will...[Read More]
Tax changes ruled out as treasurer launches food fight
22 January
The treasurer has poured cold water on any new taxes, saying Labor is focused on targeted cost of living relief. Asked whether Labor would bring any new taxes to the upcoming federal election, Jim Chalmers said, “no, our focus is on the tax...[Read More]
Short trips, cheaper grub: tight budgets change travel
1 January
Booking hotels and tickets well in advance has long defined Australian travellers but as household budgets come under stress, last-minute trips and spontaneity are becoming more popular. Amid high prices for groceries, housing and other essentials,...[Read More]
‘Surprise’ budget windfalls drying up, economists warn
27 November
Australia is waving goodbye to budget surpluses and returning abruptly to deficit, facing a $49 billion deterioration in the bottom line as per forecasts from leading economists. The $15.8 billion surplus logged in the last financial year to...[Read More]
Stage three tax cut spending spree yet to surface
17 October
Tax cuts don’t appear to be fuelling shopping sprees, with transaction data suggesting extra take-home pay is going towards staples and paying down debt. Footy finals were the only bright spot in an otherwise glum September for spending, with...[Read More]
From Tony’s Desk – To sell or not to sell????
6 August
For those of you who enjoy your sport, I hope you’ve been relishing the Olympics. Amid the headlines about our athlete’ great achievements the current market volatility is also getting a few headlines. To address this, I’d like to...[Read More]
Few plan to spend tax returns as economy stalls
12 July
Just one in 20 Australians plan to splurge on big-ticket items when their tax returns come through, with most opting to squirrel them away or pay down debt. Amid acute cost of living pressures and a string of interest rate rises, surveying by...[Read More]