Miners and critical minerals producers will be hit by Labor’s unrealised capital gains tax as self-managed superannuation funds will pull millions of dollars out of higher-risk businesses, warn resources company CEOs.
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US eyes Darwin Port prise from Chinese-owned company Landbridge Group
A US private equity firm with strong ties to the Trump administration is poised to make an offer to buy the Port of Darwin from its Chinese owner, in a test of Anthony Albanese’s resolve to bring the port back under Western control.
Read moreAustralia limiting its role as a global energy superpower
When it comes to resources, Australia is the Saudi Arabia of the southern hemisphere.
Read moreAEP report details gas market intervention’s effect on investment, calls for policy reset
The Albanese government’s intervention in the gas market in 2022 is directly responsible for Australia’s appeal for investment falling substantially in recent years, a new report says.
Read moreUnfair tax shows a darker side of Labor’s big agenda
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.
Read moreALP unrealised gains tax condemned: ‘it’s not good policy’, says economic heavyweights
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.
Read moreSCRAP THIS TAX ON FAMILY ENTERPRISE AND AMBITION
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.
Read moreATO debt to become more expensive for SMEs from 1 July
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.
Read more‘Stupidity of the highest order’: Gerry Harvey slams Jim Chalmers’ superannuation tax
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”.
Read moreFarmers don’t need handouts – they need tax breaks, lower rates and free vehicle registration | Gina Rinehart
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.
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