Australian budget

Liberal MP, Julian Leeser, has hosed calls to raise Newstart, arguing that the federal budget simply cannot afford it: An increase to the dole would have a major implication for the budget bottom line at a time when there is a need for strong fiscal management, a Liberal backbencher warns.

When it comes to cruelty against the unemployed, it’s hard to top the Morrison Government.

Via Domain: Billions of dollars of congestion-easing infrastructure projects that could boost the economy and increase safety are stuck years down the track as the Reserve Bank of Australia calls on the Morrison government to do more.

The cost of healthcare is under scrutiny in the wake of revelations that a growing number of Australians are seeking early access to their superannuation to pay medical expenses.

New Social Services Minister, Anne Ruston, has sparked outrage from Labor after she claimed on radio that the Aged Pension was “welfare” for people who can’t look after themselves.

The University of Melbourne’s John Freebairn argues that reducing the tax rate for larger non-resident shareholders would stimulate economic growth and help to increase wages.

The Grattan Institute has released a new working paper, entitled The history and purposes of private health insurance, which forecasts an ‘exodus’ of young and healthy people from the private health system leaving private health insurers struggling to cope with older, sicker patients.

National Seniors Australia (NSA) has reacted angrily to the federal governments changes to the pension deeming rate, accusing the government of having its “hands in pensioners’ pockets at a time when they can least afford it”.

Over the weekend, the Morrison Government announced changes to deeming rates for the Aged Pension, which are expected to deliver pensioners an additional $600 million of funding over the next four years.

It’s always funny to read the RBA – which is partly responsible for Australia’s record household debt load – lamenting that high household debt is curbing spending.

S&P Global Ratings upgraded Australia’s credit rating outlook to ‘stable’ in September 2018.

After unsuccessfully taking its negative gearing and capital gains tax (CGT) reforms to the past two elections, Labor is set to officially dump the policy from its platform.

Sections of Australia’s media have launched an all out attack on the passing of the Coalition’s income tax package by the Senate.

Treasurer Josh Frydenberg says the federal government will change the deeming rate for pensioners by the end of 2019, and that over 25 per cent of pension recipients will be better off as a result.

The federal government announced in the 2017 Budget that it would remove a capital gains tax (CGT) exemption for around 100,000 expatriate Australians who sell their main residence while overseas.

Yesterday was good day for the Aussie economy, via The Australian: Australians will be handed an ­immediate $15 billion in tax cuts in a bid to boost the economy, drive retail sales and create new jobs, after parliament last night rubber-stamped Scott Morrison’s signature $158 billion tax relief package.

Via The Australian: Senator Griff said discussions with the government on measures to reduce gas prices, which the minor party had called for in order to support the entire tax cuts ­package, were “progressing very well”.

Via the Grattan: Federal Parliament should pass the Government’s Stage 1 tax cuts immediately but should defer consideration of the controversial Stage 3 cuts, according to a new Grattan Institute working paper.

Amusingly empty, at the AFR: Scott Morrison says the government’s income tax cuts could pass both houses of Parliament by as early as Thursday but it will be just the start of what is “a chocked program” of legislation between now and the end of the year.

Via Domain comes some “exclusive” fake news: More than two thirds of the final stage of the Coalition’s $158 billion income tax cut package will flow to workers earning under $180,000, new figures show, as the Morrison government moves within striking distance of its first policy victory since the election.

There are fears the federal budget could take a $20 billion hit after an Australian National Audit Office (ANAO) report warned that a $19.5 billion government loan extended to NBN Co might not be repaid because of doubts the NBN will meet financial projections.