Yesterday
The ‘massive’ tax exposure your family trust may be missing
Thousands of trusts are headed for a ‘vesting cliff’ that could trigger automatic asset liquidations and large – potentially unanticipated – tax bills
Property investing will (probably) never be the same. What to consider
With a capital gains tax overhaul anticipated in the May budget, buyers agents say some investors are selling but others are preparing for a long-term “buy and hold” approach.
This Month
Stand up to whinging gas giants
Readers’ letters on a controversial drawing in The Australian Financial Review, gas tax, replacing Jacinta Allan, and self-managed superannuation funds.
CGT changes would cut 12k new homes, lift rents: property industry
Industry groups say economic modelling shows proposed changes to the tax would undermine the government’s goal of 1.2 million new homes being built over five years.
CGT discount ‘overtaxes’ investors during high inflation
It was not concessional during times of high price rises over the past five years, new research by the Institute of Public Affairs shows.
Chalmers’ stagflation-lite nightmare: Why piecemeal fixes will fail
Economic reality has caught up with the government, as it confronts a 1970s-style stagflation-lite shock. Nothing less than a U-turn is needed to get back on track.
Handouts won’t help the young become better off
A smorgasbord of policies could genuinely help young people improve their lives. Yet, here we are, quarrelling over an inconsequential capital gains tax discount.
Labor gives itself the green light to pare back CGT discount
Labor members of a Senate inquiry have concluded the tax break is helping fuel inequality in the housing market and skewing ownership towards investors.
Someone else just wrote Jim Chalmers’ big tax reform plan
Allegra Spender lobbed a $29 billion grenade into the tax debate, arguing Australia is becoming a place where your “parents’ balance sheet matters more than your own ambition”.
CGT change could raise $9b – but with a catch for existing investors
The government could raise enough from trimming the tax break on capital gains for investment properties and shares to provide an about $600 a year tax cut for workers.
Treasury recruits prominent YIMBY economist to lead housing team
The Grattan Institute’s Brendan Coates, a critic of the capital gains tax discount, will oversee the department’s strategy on housing supply.
Spender’s $29b plan: Cut income tax by taxing assets more
Independent MP Allegra Spender has called for a major intergenerational rebalancing of the system by cutting income tax, paid for by higher levies on capital gains and trusts.
Greens to pass super tax, give the go-ahead for a high-taxing budget
The Greens say this year’s budget is a “once-in-a-generation opportunity for ambitious tax reform” and they have opened the door for Labor to make it happen.
CGT reform may fix Australia’s negative gearing problem: economists
As Labor mulls big budget changes, experts say increasing the tax on capital gains should cool investor demand for property before any cut to negative gearing.
Only retrospective CGT change is fair for the young, says tax expert
A member of the Henry tax review warns that the mooted reforms are not worth doing unless intergenerational equity can be achieved.
Chalmers urged to consider revenue hit to boost business investment
Treasurer Jim Chalmers concedes the tax system could do more to attract greater investment and bolster productivity – “if we can find a way to pay for that.”
Chalmers’ new tax on pension fund investment giants worries Canada
Canadian Finance Minister Francois-Philippe Champagne said he would propose changes to how foreign investors would be taxed on energy and infrastructure.
Greens threaten to play Senate hardball on CGT changes
The Greens argue the 50 per cent CGT deduction for investors should be abolished altogether, and that the change be applied retrospectively.
CGT smash and grab on investment is not going to help the young
Framing debates about tax concessions in terms of intergenerational equity reflects a redistributionist, zero-sum mindset that ignores growth.
Retail union turns up the heat on Jim Chalmers over housing taxes
The Shop Distributive and Allied Employees Association surveyed its 200,000 members about tax policy. The response it got back was depressing for young Australians.
