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Australia’s GDP growth has reached a record breaking low of 1%, the lowest growth since 1991-92 according to the Australian Bureau of Statistics. Treasurer Jim Chalmers claimed this slow down is because global economic uncertainty, inflation and interest rates of the reserve bank with fears of a recession. The Treasurer has recently taken aim at …
Anthony Albanese has come under fire after breaking an election promise to uphold the stage 3 tax cuts legislated some years ago. Under these new tax changes people earning over $180,000 in the top tax bracket who would have received around a $9000 reduction on their tax return, would get around a $4000 reduction instead. …
The pressure that has been mounting on the Government to relieve cost-of-living increases intensified as the legislated stage 3 tax cuts for those above $45k incomes become due to kick in. Following a disastrous 2023, Anthony Albanese called a snap caucus meeting to map out strategy for the upcoming year. On the agenda is a …
The Intergenerational Report announced by Treasurer Jim Chalmers this week has outlined the public cost of an ageing Australia and directions the country needs to take over the next 40 years to sustain economic momentum. The report promotes critical minerals as a way of offsetting climate change but also warns of a fundamental shift in …
Intergenerational Report welcomed, but not enough on climate Read More »
Another one of the roadblocks for the Federal Government’s housing plan to ease rental pain is that planning and zoning laws are all controlled by State Governments. This requires a co-ordinated approach between all the Governments involved and the experience in the recent pandemic would indicate that this is pretty unlikely. Image: Image: Shutterstock Produced …
Government plans for Rental Crisis rests with States Read More »
Peter Dutton’s Budget reply emphasized inflationary effects, but did not directly criticize much of the Chalmers budget initiatives. He thought more could be done to allow those on Jobseeker to get a few gigs without losing their payments and simlarly with older Australians worried about losing their pension. Given the tight job market these could …
Dr Jim Chalmers first main Budget where policy settings become evident. Things like HECS debt, Diesel rebate and anything to do with Business have not garnered any support, but a comprehensive energy package which includes a 2 billion dollar kickstart for Hydrogen has. Wendy Frew, Dominic Giles and Roderick Chambers were in the lockup and …
It was confirmed yesterday that the top band of super over $3 million would be taxed at 30% up from 15% currently. In the lead up to last years election PM Anthony Albanese said that there would be no changes to super, so many were caught by surprise with this measure. Treasurer Jim Chalmers is …