Economy
AI risks deepening divide between investors and workers
3 June
The divide between people who earn income from investments and those who work for a living could be exacerbated by the artificial intelligence revolution, economists at Australia’s largest business lender warn. While the adoption of AI is expected...[Read More]
Treasurer hoses down calls to carve up his tax revamp
27 May
Changes to capital gains taxes should still be broad to ensure one issue with the housing market isn’t replaced by another, Treasurer Jim Chalmers says, despite business groups urging the reforms apply only to property. The federal government will...[Read More]
Investor tax cut call as opponents fight Labor plan
27 May
Investor incentives should be increased, not cut, a senior Liberal says, as Labor moves to rush its once-in-a-generation tax overhaul through parliament. Business leaders have warned the measures, laid out in the federal budget earlier in May, will...[Read More]
Budget measures could cut house prices by 10 per cent
27 May
The budget’s tax whack on property investors will accelerate a housing slowdown caused by interest rate hikes, potentially causing the biggest downturn in more than 40 years. Home price growth was already slowing nationwide, with outright falls in...[Read More]
Labor happy with softer housing market since budget
27 May
Softer auction rates are a sign tax changes in the federal budget are making things easier for first home buyers, the housing minister says, as Labor weathered another day of criticism from investors and entrepreneurs. Auction clearance rates held...[Read More]
Governments warned not to hold back AI, tech start-ups
27 May
Australia is well-positioned to take advantage of the global boom in artificial intelligence but governments and regulators need to get the policy settings right so they don’t stifle start-ups. That’s the message from two of the country’s...[Read More]
Mixed results from first post-budget auction weekend
20 May
All eyes were on the auction market to see the response to negative gearing and capital gains tax changes in the first weekend after the federal budget. The results were mixed. The volume of homes that went to auction across the capital cities fell...[Read More]
‘No whammy’: businesses hit back at budget tax overhaul
20 May
States and territories are being urged to slash stamp duty for small businesses and families to help them handle the fallout of a contentious overhaul of tax on investments. The federal government has flagged some GST relief for Australians affected...[Read More]
Middle ring could be ‘hollowed out’ by tax overhaul
20 May
Rental supplies in the middle ring of Australian capital cities could be hollowed out by changes to investor tax concessions in the federal budget. Real estate agents expect investor interest in established properties to crater after Tuesday’s...[Read More]
Tax, migration and NDIS in coalition’s economic sights
20 May
Australia’s tax system would be overhauled, welfare restricted to citizens and immigration slashed under a future coalition government. In his first budget reply speech, Angus Taylor has conceded the Liberals and Nationals still have a long road...[Read More]
Budget brawl escalates over rival tax cut proposals
20 May
A row has broken out over the cost of cutting taxes for millions of Australians as Labor and the opposition try to sell rival economic plans to voters. After a week dominated by the state of the nation’s finances, Prime Minister Anthony Albanese...[Read More]
Fuel excise extension weighed as states look to supply
20 May
An extension to Australia’s fuel tax discount is still being weighed up as disruption to global oil shipments drives states to chase more control over petrol and diesel supplies. The federal government’s three-month cut to the fuel excise kicked...[Read More]
How housing became a generational budget battleground
20 May
Young homeowner Mika likes Jim Chalmers’ housing policies but the treasurer’s preferred choice of coffee is a problem. “Does anyone know how to make a long black?” she asks media and ministerial staff waiting in her small Canberra apartment...[Read More]
Budget spending stokes fears of further rate rise pain
13 May
Treasurer Jim Chalmers is defending an extra $18 billion in government spending next financial year despite warnings it will make the Reserve Bank’s fight against inflation harder. The federal budget on Tuesday revealed government spending will...[Read More]
Labor tucks away $77b war chest for further tax cuts
13 May
Tax changes in the budget give the government scope to direct more relief to workers in future, raising the prospect of a 2028 pre-election sweetener. While higher taxes on assets will be returned to workers via tax cuts in the short term, Treasury...[Read More]