NEWS UPDATE
NEWS UPDATE
Plunging auction clearance rates are not cause for concern, top government ministers are insisting, with one urging anxious home owners to “take a deep breath”. An overhaul of negative gearing and capital gains tax is expected to pass federal parliament by Thursday after the government…
Australia has the resources it needs to be a globally prosperous economy, but it is failing to convert those assets into meaningful growth, a think tank says. Abundant renewable energy, critical minerals, a world-class research sector and ties to the world’s fastest-growing region are among…
A budget backlash has prompted Labor to announce new carve-outs for innovative firms from the capital gains tax, as well as a backdown on a minimum tax on testamentary trusts. WHAT DID LABOR ANNOUNCE IN THE BUDGET? * The existing 50 per cent capital gains…
WHAT THE GOVERNMENT WANTS PASSED * Laws stemming from the federal budget would limit negative gearing to new builds from July 2027, while scrapping a 50 per cent discount on the capital gains tax and replacing it with a minimum 30 per cent rate tied…
Drivers will pay $10 more to fill a 65-litre tank of fuel when tax relief designed to combat surging fuel prices begins to wind back. The move comes after a volley of dire warnings grocery and transport costs would spike and holiday-makers would stay home…
Building wealth is rarely the result of one big decision. More often, it is the outcome of small, consistent habits repeated over time. At the heart of those habits is one simple principle: spend less than you earn and make sure your money has a…
From 1 July 2026, Australian employers will need to manage superannuation guarantee payments differently. Under the Payday Super reform, super will move away from being mainly a quarterly compliance task and become part of the regular payroll process. In simple terms, employers will need to…
Key points The RBA in wait and assess mode The RBA’s decision to leave rates on hold at 4.35% was no surprise with the money market pricing in no change ahead of the meeting and all 26 economists surveyed by Bloomberg expecting the same. This…
Reserve Bank governor Michele Bullock has not ruled out hiking interest rates again if inflation keeps rising, after the bank left rates on hold for the first time in 2026. Following three consecutive rate rises, the central bank’s monetary policy board voted unanimously to leave…
Investors are prematurely offloading their properties before tax changes even hit the market, resulting in a listings boom but fewer rentals. Rental listings across the country have shown large annual falls, with the steepest downturn so far in May. All capital cities were part of…
Australia’s superannuation industry is underinvested when it comes to the nation’s renewable energy transition, an environmental advocacy group claims. The 30 largest super funds directly contributed $771 million of the $99 billion invested in Australian clean energy projects since 2020, roughly 0.03 per cent of…
Parliamentarians are being urged to pass laws limiting tax breaks for property investors and not “let the perfect be the enemy of the good”. Looming tax reforms would help make the tax system more equitable, independent economist Saul Eslake said on day one of a…
Migration opponents are being warned big cuts to Australia’s intake numbers would cause havoc for the economy and impact housing targets. Immigration and housing numbers were out of balance with each other but dramatic cuts were not the solution, minister Tony Burke said ahead of…
Controversial tax changes for shares and businesses will prevent more money from being funnelled into existing homes, Treasurer Jim Chalmers claims. Businesses have been relatively receptive to Labor’s decision to wind back tax breaks for property investors. But changes to the capital gains tax discount…
The Commonwealth must return to its historical role as a home builder rather than a protector of huge profits made by banks and developers. It’s advice that’s been overlooked but a warning that cannot continue to go unheeded, senators have been told. Appearing before the…
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