The Economy

 

Call for death tax on 'super rich' families

Nassim Khadem 5:35 AM   Tens of thousands of 'super rich' Australians would feel the burden of a new death tax, according to Community Council for Australia chairman Tim Costello.

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$440,000 to model tax, but the results shouldn't be taken literally

Senator Arthur Sinodinos says the results will be released soon.

Peter Martin 8:01 PM   The government is paying private consultants $440,000 to model the effects of tax changes in an exercise the head of the Treasury says shouldn't be taken too literally.

No more Mr Nice Guy: Tax Commissioner

Australian Tax Commissioner Chris Jordan: strident in his comments about multinationals thinking the ATO can be 'stooged'.

Nassim Khadem 4:59 PM   Tax Commissioner Chris Jordan has vowed the ATO is prepared to take more companies to court.

Consumer mood up before turmoil

Not sold: Survey respondents are doubtful about whether to buy a house now.

Mark Mulligan 4:46 PM   Consumer confidence has rebounded, according to the latest Westpac-Melbourne Institute sentiment survey. However, the report fails to take account of this week's market tumult.

Fed has a chance to turn the tide tonight

Questions to answer: Janet Yellen at a congressional hearing last year.

Mark Mulligan 1:42 PM   Two months is a long time in financial markets, and no-one is more aware of this than US Federal Reserve chair Janet Yellen.

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Tax modelling out soon, but treasury boss says you shouldn't rely on it

Treasury secretary John Fraser said modelling prepared for the government to help guide the tax debate was "useful in ...

Peter Martin 11:47 AM   Treasury secretary John Fraser has played down the reliability of economic modelling due to be released by the government to help guide the tax debate.

Market plunge is an example of 'heard' mentality

Malcolm Maiden

Malcolm Maiden   The world is not as sick as the global bank share rout suggests.

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Federal inquiry asks: is there too much scrutiny of the ATO?

Tax Commissioner Chris Jordan thinks too much time and money is wasted answering questions about his agency's performance.

Nassim Khadem   A federal inquiry will examine whether there are too many bodies scrutinising the Australian Taxation Office, after repeated public complaints by Tax Commissioner Chris Jordan.

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Don't bet on genuine tax reform

Michael Pascoe

Michael Pascoe   It's possible that Malcolm Turnbull and Scott Morrison might have a cunning plan to unleash genuine tax reform – but you certainly wouldn't bet on it.

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India eyes stronger economic growth

India's GDP data has been under scrutiny since last January when statisticians unveiled new methodology they say better ...

Rajesh Kumar Singh   New Delhi forecast that GDP growth for fiscal year 2015-16 would accelerate to 7.6 per cent from a revised 7.2 per cent a year earlier.

Why the sharing economy needs regulation

Taxi drivers on strike stand next to their cars as they demonstrate in Paris.

Looking back on 2015, it's pretty clear this was the year the sharing economy really took off in Australia.

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Turnbull's tax two-step: focus shifts to super, rental properties

Prime Minister Malcolm Turnbull during question time on Monday.

Longstanding tax breaks for superannuation contributions and investment properties are in the frame as the Turnbull government scrambles for alternative revenue sources to fund vote-winning income tax cuts in the next election.

Jobs ads up 1% in January

Employers were hiring again in January after a lull in December.

Job advertisements in newspapers and online resumed their growth in January after a brief pause the month before.

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Health, education crying out for attention

Health care and social assistance is Australia's biggest industry, accounting for almost 13 per cent of all jobs.

If the tax system and industrial relations aren't high priorities on my reform agenda, what does deserve to be at the top of the list? It's obvious: health and education are crying out for attention.

Blockchain and how it will change everything

ASX chief executive Elmer Funke Kupper says blockchain could change "everything".

This technology has everyone from Richard Branson to Glenn Stevens talking.

Malcolm Maiden

Turnbull's NBN is rolling according to plan – the new plan, that is

Malcolm Maiden.

On its own terms, the Turnbull government's national broadband project hits its marks in the December half.

Peter Martin

RBA dons rose-tinted glasses

Peter Martin dinkus

The Reserve Bank reckons things are on the up and up.

Forget Davos, go to the tennis

Harold Mitchell.

We are laconic and laid back. Perhaps a little too laid back for our own good.

'We should all fear Oilmageddon'

Traders of crude oil and natural gas: A global recession, triggered by lower commodities prices, would leave nowhere to ...

Tracy Alloway   Markets are in a well-oiled "death spiral," analysts at Citigroup say.

Euro zone cuts growth forecast

The growth estimate for this year is a slight downward revision of the 1.8 per cent seen in the last set of forecasts in ...

Jamer Kanter   Euro zone growth will slightly accelerate this year and next, but the pace will be slower in 2016 than previously forecast.

RBA sees faster growth, fewer jobless

The glass remains half full for the RBA.

Michael Heath   The central bank maintains its glass-half full view of the economy even as risks around Australia's key trading partner cast a shadow.

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IMF chief: China can avoid 'hard landing'

Advanced economies should support their economies through accommodative monetary policy and infrastructure spending to ...

David Lawder   But spillovers from China's transition to slower growth will continue to pressure oil and commodity exporters around the globe, IMF chief Christine Lagarde says.

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Business driving ahead despite market jitters

Michael Pascoe

What's going on in the auto showrooms reinforces a key domestic economic story over the second half of this decade.

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Holidays are serious business

Michael Pascoe

It wasn't all bad news in the December trade statistics, but sometimes any excuse will do.

Too early to call the top for property: Goldman

A flood of money out of China in the last six months means that it may be too early to call the top of the property market.

A flood of money out of China in the last six months means that it may be too early to call the top of the property market.

John Addis

Your best investment in 2016? Probably a political donation

It's too easy to sway the tax reform debate in Australia.

The surprising thing is not that this stuff happens, but how little it costs to make it happen.

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Sydney's billion-dollar suburbs revealed

Hanging in there: Sydney home value rose 0.5 per cent in January, partially offsetting the December quarter's decline, ...

Do you live in one of Sydney's billion-dollar neighbourhoods? There are more than you might expect.

Businesses upbeat but volatility a worry

Global volatility remains a caveat over Australian business confidence.

Global turbulence in the new year is the biggest risk for business.

Forget GST: fix the tax system by broadening it

Malcolm Maiden

Malcolm Maiden   There is no single 'Big Fix' for Australia's tax system, however, there are a few smaller things we can do.

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Australia's fiscal deficit billions worse than expected

Secretary of Treasury John Fraser, pictured with Finance Minister Mathias Cormann, has warned it is getting harder to ...

Gareth Hutchens   The combined budgets of our federal and state governments is projected to deteriorate by $34.1 billion more than expected over the next four years, Parliamentary Budget Office figures show.

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