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 the...
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 snap...
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 on share...
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 select committee...
State governments have been encouraged to follow the lead of the ACT and abolish stamp duty, but it’s unlikely to happen without Commonwealth support. ACT Treasurer Chris Steel announced all first home buyers would be exempt from paying stamp duty on property purchases from July 1...
Australians are working longer hours but it’s not showing up on the productivity scoreboard as levels tumble to a post-pandemic low. The Productivity Commission’s quarterly bulletin reinforces the scale of the challenge confronting Treasurer Jim Chalmers. Breaking down Australian Bureau of Statistics data, the report highlights labour...