Economy
Factcheck: Are population growth and a lack of supply driving the housing crisis? (no)
The Senate Select Committee on the Operation of the Capital Gains Tax Discount tabled its report on Tuesday.In short, it found that Australia’s current tax system favours investors and fuels intergenerational inequality. But the Coalition maintains the CGT discount is “working as intended.”
Allegra Spender calls for windfall profits tax on war-driven oil and gas profits
The Member for Wentworth is pushing for Treasurer Jim Chalmers to introduce a tax of at least 50 per cent on revenue earned above expected levels due to global supply disruptions, calling for an urgent windfall tax on gas and oil companies raking in “extraordinary profits” from the escalating conflict in the Middle East.
It's time to scrap tax discounts for the wealthy and stop turbocharging inequality
As we approach the Federal Budget, speculation is swirling about changes to the Capital Gains Tax (CGT) discount and negative gearing. And just yesterday a senate committee handed down its report on the CGT discount after hearing evidence that it worsens inequality and encourages property investors to gamble on housing.
Pressure mounts on Albanese Government to curb investor tax breaks after CGT inquiry findings
The Albanese Government has again signalled its plans to wind back the capital gains tax discount, after a Senate inquiry gave Treasurer Jim Chalmers the green light ahead of the May budget.
Australians are footing the bill for climate damage while fossil fuel export profits soar. We can fix this.
Australia is already paying the price of climate change. The evidence appears almost daily on the national emergency map. Just this week alone, major flooding has inundated communities in Queensland, with homes and businesses flooded in Bundaberg. Flooding across the Northern Territory has forced evacuations in remote communities.
Raising rates while petrol prices soar shows the RBA ignoring reality and basic economics
The Reserve Bank has completely misread the economy and risked sending more Australians into poverty on Jobseeker by raising the cash rate to 4.1%.
Leading economists throw their support behind taxing the gas industry more
In the lead up to the Australian Budget, reporting in the AFR shows leading Australian economists including former Deloitte partner Chris Richardson and former head of the ACCC Rod Simms have called for big increases in tax on the gas industry in the light of rising gas prices caused by the Iran war.
The fake gas and housing shortage is Australia’s real crisis
Australia doesn’t have a shortage of houses, a shortage of gas, or a shortage of bullshit about housing and gas supply. Australia is one of the world’s largest exporters of gas, but we’re often told we don’t have enough gas. Likewise, Australia has more houses and apartments -- in absolutes terms and per person -- than we did in the 1960s.
If the NDIS is ‘runaway spending’, what do we call $16 billion in fossil fuel subsidies?
New research shows fossil fuel subsidies will reach $16.3 billion in 2025–26, rising faster than the NDIS. Handouts to mining giants are growing faster than support for Australians with disability.
