Australian budget

NBNCo’s annual reports show that its executives have received bonuses totalling $5.7 million since 2020, including about $1.5 million in 2021-22.

Rising interest rates are likely to result in more investors using negative gearing and capital tax deductions, which are both “bad policies”, according to mortgage broker Mark Bouris.

Marion Terrill from the Grattan Institute contends that overhauling the fuel tax credit scheme would reduce the budget deficit and help Australia to achieve the net zero target of 2050.

It is amusing watching the sick AFR try to make a positive out of a negative: The first shipment of Australian coal to China since Beijing imposed an unofficial ban on the export commodity two-and-a-half years ago is expected to arrive in the country next week, according to Chinese reports.

The International Monetary Fund’s (IMF) annual review of Australia has proposed an overhaul of the nation’s tax system in order to make it fairer.

In mid 2021, the Group of Seven (G7) finance ministers committed to a minimum global corporate tax rate of at least 15%, which was expected to result in hundreds of billions of dollars flowing into government coffers.

By Stephen Saunders: The October Budget offers us a sparkly new “wellbeing” framework.

The Parliamentary Budget Office (PBO has forecast that the average personal income tax rate will rise to 26.4% in 2032-33, compared with 23.7% in 2021-22.

Shortly after the federal election, new Communications Minister Michelle Rowland confirmed that Labor had abandoned plans to privatise the national broadband network (NBN).

Earlier this week, The Age published an article featuring a range of infrastructure experts deriding the Andrews Government’s billion Suburban Rail Loop (SRL): The Loop’s costings have already blown out from the initial $50 billion to $125 billion, a figure the government disputes.

The Parliamentary Budget Office (PBO) has published an interesting report examining trends in personal income taxes.

For years I derided Australia’s public service for receiving far bigger pay rises than the private sector. This saw average full-time earnings in the public service ($100,708) increase significantly faster than the private sector ($89,742).

The Fair Work Ombudsman (FWO) Sandra Parker recently stated that wage underpayment has become a systemic issue in Australia’s tertiary education sector.

The NSW government’s First Home Buyer Choice legislation has been passed by the Upper House.

ABC political reporter, Tom Lowrey, has penned an interesting article on Australia’s Petroleum Resource Rent Tax (PRRT), which is supposed to capture windfall profits on gas owned by the Commonwealth and licensed to be sold by the companies extracting it.

Modelling from the Parliamentary Budget Office (PBO) forecasts that negative gearing costs are likely to double as interest rates rise and could potentially triple over the next decade.

Analysis of public sector annual reports by The AFR shows that at least 24 public servants and executives of government-owned corporations received total remuneration of more than $1 million in 2021-22.

With iron ore crashing and likely to be pressured over 2023 it is timely to once again ask, will Aussie nominal growth be whacked and the Budget undershoot revenue targets?

By Stephen Saunders Budget’s big spending and “repair” measures are under the microscope.