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ATO targets landlord army’s 90% dodgy returns

It never rains but it pours, via Herald Sun: Dodgy landlords’ social media accounts will be put under the blowtorch by the ATO as they crack down on incorrect rental deductions. Accommodation booking websites will also be examined to make sure landlords are not making false claims simply to get money back. In the 2017-18

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Bernie Sanders runs amok on Fox

Via The Guardian: At every turn they clapped and cheered, enamored with the candidate’s prescriptions for universal healthcare, a humane attitude toward immigrants and the rejection of climate change denialism. Bernie Sanders was the candidate, and the people clapping and cheering were audience members who turned out in Bethlehem, Pennsylvania, for a televised town hall on

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Migrants sharpen attack against “unfair” elderly parent visas

By Leith van Onselen Migrant communities have stepped up their campaign to loosen Australia’s newly established ‘temporary’ elderly parental visas, which from this month will allow up to 15,000 elderly parents of migrants to live in Australia for a continuous period of three, five or 10 years. Several migrant communities have labelled these “absolutely unfair” because

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The epic crash of Aussie property sales

By Leith van Onselen CoreLogic’s latest dwelling sales data reveals more bad news for those groups heavily reliant on property transactions, including real estate agents and state governments (via stamp duty). It also points straight down for house prices. The next chart plots annual sales volumes across Australia’s capital cities to December 2018, which are

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Auction clearances stuck below 50% in March quarter

CoreLogic has released its quarterly auction market report, which has reported a combined capital city clearance rate of only 49.9% over the March quarter, alongside tanking volumes: Around half of all homes up for auction across Australia’s capital cities sold during the first quarter of 2019, with the latest CoreLogic Quarterly Auction Market Review showing

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Dovish RBA realises its ‘pushing on a string’

Dovish RBA minutes out just now: International Economic Conditions Members commenced their discussion by noting that the slower pace of global economic activity had continued in recent months. This had been particularly evident in the manufacturing sector. Survey measures of conditions in the manufacturing sector had declined across a range of economies, although they had

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Daniel Andrews in hock to China?

Via the AFR comes Australia’s secessionist China state: Victorian premier Daniel Andrews will attend Chinese president Xi Jinping’s forum to promote its controversial Belt and Road Initiative (BRI) infrastructure program next week, as Australia’s relationship with Beijing comes under fresh scrutiny ahead of the federal election. The visit by Mr Andrews and Australian business groups

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Greens: Make Australia a migrant retirement village

By Leith van Onselen Greens Senator, Nick McKim, has labelled “horrific” the number of years taken for migrants to bring their elderly parents to Australia under Australia’s permanent migration program. From SBS News: Migrant advocates have voiced outrage and disbelief as it emerged wait times for some Australian family reunion visas are now up to

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AFR fake news alert: $130k is not “middle-income”

By Leith van Onselen The AFR’s John Kehoe has penned a highly spurious article claiming Labor’s 49% tax rate will “hit middle-income earners”: Taxpayers earning between $130,000 and $160,000 today could be hit by Labor’s budget repair levy and 49 per cent top tax rate within four years as income growth pushes them into the

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Scummo’s Five Point Plan to destroy Australia

From Scummo today: Our plan will build our economy, without increasing taxes, securing the future for all Australians. #BuildingOurEconomy pic.twitter.com/Ao8p6WPeDb — Scott Morrison (@ScottMorrisonMP) 10 April 2019 Let’s unpack what these five points really mean. Scummo Point 1: 1.25m jobs over five years The Truth: Jobs growth of 1.25 million over five years implies weak

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How the Coalition killed itself with Enron politics

Via The Guardian: A poll commissioned by the activist group GetUp, which is targeting the seat, found that 64% of Kooyong residents said they would be more likely to vote for a candidate with a plan to address climate change by replacing coal with clean energy. However, a survey by Roy Morgan, published in the Australian Financial Review,

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Survey: 72% of Australians are sick of population growth

By Leith van Onselen Dr Bob Birrell and Dr Katharine Betts from the Australian Population Research Institute have released a new research paper examining Australian voters’ attitudes towards immigration, which is based on a random survey of 2,029 voters conducted from October/November 2018. Below is the Executive Summary along with the key charts: Previous research

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Migrants cry foul at “unfair” elderly parent visas

By Leith van Onselen Starting this month, the federal government will issue up to 15,000 sponsored parental visas to migrants who wish to bring their elderly parents to live in Australia for a continuous period of three, five or 10 years. However, members of the Indian community have attacked these visas, labelling “unfair” the need

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Is Australia’s famed luck riding to the rescue?

Sure looks like it. Were we in a normal commodity cycle, Australia would be looking down the barrel of disaster. As house prices plunge, the global economy is fading too. A global recession is quite possible and, more to the point, the weakness has been driven by a slowing China. Chinese property construction is weakening

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Melbourne’s hidden ghost city revealed

By Leith van Onselen Prosper Australia has released its 2018 Speculative Vacancies Report, which estimates up to 16% of investor-owned residential properties in Melbourne are vacant, based on water usage data. The Chinese mecca Box Hill in Melbourne’s East is estimated to have the highest percentage of vacant investment properties. Prosper Australia recommends Victoria implement

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Dutton has to go

Here’s what former Prime Minister of Australia Malcolm Turnbull said today about Peter Dutton meeting Chinese national, rampant political donor, alleged CCP agent of influence and currently exiled and disqualified for citizenship on character grounds, Huang Xiangmo: “Look, Peter Dutton has got a lot to explain about this.” “He is supposed to be the minister

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Scummo approves Adani

Lol, he’s in control, not, via Domain: Prime Minister Scott Morrison has slapped down internal Coalition critics who are demanding swift approval for the Adani coalmine, insisting the government will follow “expert scientific advice” on an imminent environmental decision. Mr Morrison rebuked “senators listening to themselves” on the coal project after Queensland Liberal senator James

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EV debate shorts out

Crikey sums it up: Taylor far from electrifying. There was considerable fun to be had on the weekend with the government’s and News Corp’s attempts to attack Labor’s electric car plan. Bill Shorten’s claim that electric cars could be charged in 10 minutes was seized on by News Corp to attack him, while Scott Morrison accused Shorten of wanting

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The international student boom has destroyed higher education

By Leith van Onselen Earlier this year, the Victorian Government called for a review of entry requirements into Australian universities after growing evidence that foreign students with poor English language proficiency are badly eroding education standards as well as placing undue strain on university teaching staff. Immediately afterwards, academics admitted to Fairfax that they had

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One in five auctions pulled by “under stress” vendors

By Leith van Onselen The small seasonal bounce in auction clearances can seemingly be attributed, in part, to a surge in homes being withdrawn prior to auction. From The AFR: Sydney homeowners are increasingly pulling their homes from auction before the big day while some Melbourne properties are now selling for less than their council

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International students drive university cheating boom

By Leith van Onselen For years a multitude of reports have emerged highlighting that the boom in international students is badly degrading Australia’s higher education system. Several years ago, both Fairfax and the ABC reported that international student colleges had taken cash kickbacks in return for helping overseas workers and students win Australian visas using fake

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Four Corners: China interfering with Australian sovereignty

Via the ABC: A local Sydney council bowed to pressure from the Chinese Government and banned an Australian-owned media company from sponsoring an event because it was critical of the Communist Party. A joint investigation by Four Corners, The Age and the Sydney Morning Herald obtained documents showing how Chinese consular officials issued at least

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IMF hits Aussie house price crash panic button

Via the AFR comes the IMF in an unusual break with the tradition of agreeing with whatever the locals say: Australia’s housing market contraction is worse than first thought, says a top IMF analyst, leaving the economy in what he called a “delicate situation” that boosts the need for faster infrastructure spending and even potential interest

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Auctions bounce suggests “we’re coming out of the bottom”

CoreLogic released its preliminary auction report yesterday, which reported another weak clearance rate on soft volumes. The preliminary national auction clearance rate was just 57.2%, slightly above last week’s 56.8% but well below the 62.8% final clearance rate recorded in the same weekend of last year: Auction volumes nationally were 1,978, which was actually above

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How far will specufestor mortgages fall?

Via the AFR today: As Credit Suisse analysts pointed out recently, investors are genuine net new buyers and invest for capital gains rather than net rental yield. The Labor policies are seen as negative for the investment housing market and sales will slow, leaving residential developers such as Mirvac and Stockland most exposed. On the upside,