The wealth taxes wanted by Harris and Chalmers
Wealth taxes are back on the agenda and targeting unrealised gains is a key feature of new policies, both at home with Jim Chalmers and aboard with Kamala Harris.
Wealth taxes are back on the agenda and targeting unrealised gains is a key feature of new policies, both at home with Jim Chalmers and aboard with Kamala Harris.
Retail investors appear convinced that gold is ready to run and they are joining central banks in buying up the yellow metal.
Cushioned by government support, Australia’s big banks are cutting their deposit rates for savings accounts and crushing their last remaining competitors.
Banks just don’t need savers like they used to thanks to more than $200bn in government funding from the height of Covid-19 underpinning their ability to cut deposit rates.
CBA has provocatively detailed for the first time that it costs $350m a year to supply cash to its branches, in a move that will open up the vexed cash services issue yet again.
Now that we have the results from the top companies, we can see which ones are bargains and which are likely overpriced. Here’s the top six to ponder:
The government’s struggle to get a new super tax over the line in parliament has received a setback with eight independent MPs joining ranks to call for urgent amendments.
The evaporation of a savings buffer built up during Covid-19 means consumer spending will remain soft and personal tax cuts will not work as effectively.
A ‘most distrusted’ sharemarket rally has come to a halt thanks to a reversal that some key players think hasn’t been severe enough.
Next week the board at ‘dividend influencer’ CBA must make a call on the full year dividend – and it’s going to be a difficult decision.
Original URL: https://www.theaustralian.com.au/author/james-kirby/page/10