Yesterday
Super tax to catch 500,000 workers if not indexed
About 500,000 workers will be caught by Labor’s new super tax if the $3 million threshold is not indexed. Only 64,000 will be hit if it is.
Look at what governments do on super, not what they say
In isolation, Labor’s proposed new Division 296 tax on superannuation balances above $3 million is not the end of the world. But it’s not an isolated act.
Jim Chalmers is wrong. The economy is not turning a corner
Labor’s super tax does little to fundamentally improve a badly unbalanced tax system that only grows more unfair, unwieldy and unproductive.
How the $3m super tax is dividing Australia
This week on The Fin podcast, Joanna Mather and Michelle Bowes on how the new tax will work, why it’s so controversial and what people are doing to get ready for it.
This Month
Opposition urges Farrell to play hardball with EU on agriculture
Australia and European trade officials are scheduled to immediately restart negotiations in Brussells.
Greens and Labor close in on $3m super tax deal
The Greens have pledged strong in-principle support for the controversial policy to ensure “wealthy Australians pay their fair share of tax”.
Economy will be stuck in the slow lane unless these two things change
There are two worrying trends in the national accounts released on Wednesday.
RBA tipped to cut rates to prop up ‘disappointing’ economy
GDP rose just 0.2 per cent in March as businesses cut back on investment, consumers watched their spending and limits on foreign students hit exports.
Influential or ‘enfeebled’: Has Treasury lost its mojo?
With high government spending, low productivity, and no tax reform in 25 years, an uncomfortable question is being whispered in Canberra.
Chalmers’ spending transition in doubt
The treasurer’s hope for the economy to shift from government spending to business-led growth may be on shaky ground.
Private sector-led recovery in doubt as companies hold back investment
The OECD has urged the federal and state governments to repair their budgets, as new data shows record growth in welfare spending and business investment languishes.
WiseTech director’s $1.6 billion SMSF buys and sells
Charles Gibbon owns one of the country’s largest super balances. It contains a stunning South Coast property.
May
Labor’s agenda is vague, its tax reform plans a distraction
The Labor Party is promising to deliver its election agenda. But that won’t be anywhere near enough to address Australia’s economic challenges. What will give?
Best defence to US-China trade war is productivity
Treasury boss Steven Kennedy says business should adopt artificial intelligence more quickly and governments should reform road user charges, project approvals and carbon pricing.
‘Needs a lot of work’: Industry says FIRB still has big problems
Treasurer Jim Chalmers has launched a new portal for applications to the Foreign Investment Review Board, but industry players say it needs a lot more work.
Inflation data no barrier to another RBA rate cut
Headline inflation remained within the central bank’s target band in April, bolstering market confidence for further easing
Why Chalmers’ super tax isn’t real reform
Labor’s proposal to increase tax on super balances over $3 million will treat symptoms instead of the disease. Here are 6 proposals for an optimal tax agenda.
Super tax ‘shows Chalmers ignoring history’
A decade ago, Labor backflipped on taxing employee ownership share schemes because of the impact on start-ups.
Chalmers accused of ‘double standard’ on PM’s $300k pension
Liberal MPs and others are criticising special rules that allow some politicians and public officials to delay paying the new superannuation tax until retirement.
Why Jim Chalmers will have his ‘Wayne Swan moment’ with the super tax
There is zero chance of the new impost raising $40 billion over the next 10 years.