Aussies Slam 'Rushed' Tax Consultation on CGT Changes
Australians have criticized the government's 'rushed' 12-day public consultation on capital gains tax and negative gearing changes, with many warning of global-high CGT rates.
Category : Economy
Coalition slams Labor's rushed $80bn tax reforms
The Opposition has accused Labor of rushing through the biggest tax changes in decades, condemning a two-day Senate inquiry as 'disrespectful'. Business groups also criticise the process.
Climate Change Costs NSW $21,300 Per Person Annually
A new report reveals that climate change has caused a median 18% loss to the NSW economy, equating to $21,300 per person annually. The damage stems mainly from global weather shifts, not just local disasters.
ACT Budget Deficit Pressures Reach $1 Billion
The ACT government's 2026-27 budget is under significant pressure, with a projected deficit of $1 billion due to rising costs and reduced revenue.
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England's Kane Dependence: Tuchel Seeks More Goals
Amid fears of over-reliance on Harry Kane, Thomas Tuchel urges England's attackers to step up ahead of the 2026 World Cup. Key players like Bellingham, Rashford, and Saka need to contribute more goals.
OpenAI Files for IPO as AI Frenzy Hits Aussie Super
OpenAI has confidentially filed for an IPO, following Anthropic, as the AI race heats up. Aussie super holders face risks from concentration in index funds.
Intergenerational Inequity Beyond Wealth
A new report reveals that intergenerational inequity extends beyond wealth, affecting health, education, and housing. Each generation faces unique challenges.
Rachel Reeves Quietly Reshaping UK Economic Policy
Despite unpopularity and policy U-turns, Rachel Reeves has advanced devolved spending and infrastructure investment, aiming to rebalance the UK economy away from London.
Australia's Fertility Rate Hits Record Low at 1.48
Australia's fertility rate has dropped to 1.48 births per woman, the lowest ever, due to cost-of-living pressures and delayed childbearing, raising concerns about an ageing population and economic growth.
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Barr Cuts Infrastructure to Save $700M
ACT Chief Minister Andrew Barr announces a $700 million saving by slashing infrastructure projects, redirecting funds to health and education.
HSBC chief warns Australia recession risk from three shocks
HSBC chief economist Paul Bloxham warns Australia's recession risk is rising due to three shocks: RBA rate hikes, Middle East conflict, and budget uncertainty. GDP growth slowed to 0.3% in Q1.
Over 60% of Australians expect recession by Christmas
More than 60% of Australians believe the country will be in recession by Christmas, as high inflation and low productivity weigh on the economy, according to Finder research.
Dept of Social Services $20M Staff Redundancy Payout
The Department of Social Services has paid $20 million in redundancies, sparking concerns about job cuts and service delivery. The payout covers 200 staff members.
Recession Warning as Australia's GDP Slumps
Australia's GDP growth fell to 0.3% in March quarter, prompting a top economist to warn of a potential recession amid an unsustainable economy and global disruptions.
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RBA Governor Defends 2025 Rate Cuts Despite Reversal
RBA Governor Michele Bullock says she does not regret cutting interest rates in 2025, despite the central bank reversing those cuts this year as inflation surged again.
Coalition, Greens Slam Chalmers' 'Henry VIII' Tax Powers
Coalition and Greens MPs are pushing to strip back sweeping ministerial powers in Labor's tax overhaul, warning Treasurer Jim Chalmers would gain 'Henry VIII powers' to alter key parts of the regime without full parliamentary scrutiny.
Trump's K-Shaped Economy: Wealthy Soar, Rest Struggle
Steven Greenhouse examines how Trump's policies have worsened the K-shaped economy, with the wealthy benefiting from a booming stock market while most Americans face rising inflation, high gas prices, and stagnant wages.
SA Budget: No Surprises, Debt Looms Large at $53.6 Billion
South Australia's state budget offers no new taxes, but projected debt of $53.6 billion by 2030 raises concerns. Fee-free schooling and small goodies are highlights.
Global Justice Report: Utopian Vision for Planet
The World Justice Report outlines a plan for prosperity within planetary boundaries, challenging far-right and traditional left alternatives with concepts of sufficiency and global equity.
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SA Budget: Relief, Infrastructure, Debt Rise
South Australia's cautious state budget delivers cost-of-living relief, major infrastructure spending, and rising debt, with Treasurer defending debt as investment.
Slowing Economy, Not AI, Makes Jobs Harder: Deloitte
A new Deloitte report says a slowing economy, not artificial intelligence, is making it harder for Australians to find jobs in 2026, with employment growth slowing and unemployment rising.
CGT Changes Could End DIY Tax Returns
Labor's proposed capital gains tax changes may force DIY tax filers to seek professional help due to complex indexation rules, experts warn.
Australia on Brink of Recession as Date Night Economics Bites
Rising cost-of-living pressures force Australian millennials and renters to cut date nights, signaling broader economic trouble as personal insolvencies rise.
Expert warns Australians going backwards financially per person
An expert warns Australians are going backwards financially per person despite economic growth, with GDP per capita falling 0.1% in the March quarter.
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Australia's Economy Slows Amid Cost of Living and Oil Prices
Australia's economic growth slowed to 0.3% in Q1 2026, with rising oil prices, cost-of-living pressures, and falling government spending weighing on GDP. Stagflation fears grow.
Tobacco Control Under Threat from High Taxes: Ex-Deputy CMO
Former deputy chief medical officer Dr Nick Coatsworth warns Australia's tobacco control program is fracturing due to sky-high cigarette taxes, fueling an illicit market and organized crime.
Chalmers Grilled on GDP in Fiery Question Time
A tense Question Time session saw Treasurer Jim Chalmers grilled on Australia's stagnant GDP growth, with opposition MPs demanding answers on the government's economic strategy.
Australia GDP Growth 0.3%, Productivity Falls 0.6% in March
Australia's GDP growth slowed to 0.3% in March quarter, missing forecasts, while productivity declined 0.6%. The data deals a blow to Labor's budget promises on productivity.
Australia's Economy Slows Sharply, Living Standards Decline
Australia's economy slowed sharply in early 2026, with living standards declining again. Datacentre investment provided a rare bright spot, but underlying weaknesses persist.
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Fair Work Commission approves 4.75% wage rise for Aussie workers
Millions of Australian workers will see a 4.75% wage increase from July 1, 2026, as the Fair Work Commission approves the rise amid inflation concerns.
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