The latest warnings have come from former Reserve Bank of Australia governor Philip Lowe and former Treasury secretary Ken Henry. Their message to Jim Chalmers is that taxing unrealised capital gains is not good policy and should be scrapped.
The Reserve Bank’s immediate past governor Philip Lowe and former Treasury secretary Ken Henry have spoken out for the first time against Labor’s planned tax on unrealised capital gains, declaring it’s not good public policy and that key recommendations to make the superannuation system fairer have been ignored.
With the new Labor government sworn in and cabinet now formed, critical economic decisions are being progressed – and one policy looms as a serious threat to Australia’s entrepreneurial spirit and economic stability: the so-called Better Targeted Superannuation Concessions Bill.
Australian small businesses carrying ATO debt have less than seven weeks before the General Interest Charge (GIC) on tax debt becomes significantly more expensive due to the removal of tax deductibility from 1 July 2025.
Jim Chalmers and Treasury are being warned their proposed unrealised capital gains tax could result in the loss of millions of dollars in tax revenues as capital would leave Australia, while one of the nation’s largest retailers, Gerry Harvey, has called the tax “stupidity of the highest order”.
Governments can’t make it rain but they could rid South Australia’s struggling farmers of much pain at the stroke of a pen, writes Gina Rinehart.
The Johor-Singapore Special Economic Zone (SEZ) is an ambitious project aimed at strengthening bilateral ties between Singapore and Malaysia while boosting regional growth.
Peter Dutton’s Liberals were not “too right wing”, they were instead too timid, too uncertain, too incoherent, too “Me Too” and too late.
Mining billionaire Gina Rinehart has weighed in on Anthony Albanese’s landslide election win, urging the Liberal Party to “learn from the loss and rebuild”.
Australia’s richest person has urged the Liberal Party not to turn away from Trump-style policies and to use its ‘devastating’ federal election loss as a time to rebuild.
The heads of Australia’s medical colleges are warning our public health systems face a dire future of chronic understaffing, unmanageable workloads and critical threats to patient safety unless bureaucratic overreach is overhauled.