A group of crossbench parliamentarians have revived the idea of increasing the rate of the goods and services tax from 10% or removing exemptions on food, education and health purchases. The group, which includes Allegra Spender and David Pocock, say increasing the GST rate would raise revenue to lessen government dependence on income tax as…
What if nearly everything that’s been written about this month’s Intergenerational Report is wrong? I’ll explain. But first, here’s a sample of the headlines: “Young Australians at risk of a poorer future”, “Fewer workers to shoulder soaring income tax”, “Ageing population driving $140 billion blowout in spending”, and so on. On radio it was worse….
Cost of living pressures are acute for some, but in different ways for different types of household. The Australian Bureau of Statistics consumer price index has climbed by 6% per year for each of the past two years. In the decade before that, it only climbed by an average of 1.8% per year. So, on…
Australia presents a mixed picture of national well-being, according to the government’s Measuring What Matters report released by Treasurer Jim Chalmers. On the positive side, over the past two decades, life expectancy has increased, income and job opportunities have improved, and we are better at accepting diversity. But Australians now have more chronic health conditions,…
The Australia of the 2060s will be very different from the one we know today. It will be older, with slower economic growth, a big “care” economy, and an export sector that is radically transformed due to the imperatives of climate change. The Intergenerational Report, released by Treasurer Jim Chalmers, says five main forces will…
The Australian government has just released the latest iteration of its Intergenerational Report, the sixth since the first was published in 2002. Each provides a snapshot of the sort of Australia in which future generations will find themselves in 40 years’ time, should current government policies continue. Previous reports have dealt mainly with the impact…
People seem to think there is a high risk of animals causing damage in rentals – a key reason landlords say ‘no’ to pets. However, the truth is, more damage is caused by a human than a pet. And, with laws changing across Australia to allow for more open and honest communication about renting with…
Australia’s care economy could increase from its present about 8% of GDP to about 15% in 40 years, according to the government’s Intergenerational Report. The projections say in four decades’ time Australians will be living longer, with more years in good health – but the larger cohort of aged people will increase the need for…
The tenancy regulatory landscape is constantly evolving – and it’s important that landlords and agents keep on top of changes to ensure that they meet their obligations. Of course, meeting legal obligations is a condition of landlord insurance coverage. Changes to legislation can also have a flow-on effect on landlord insurance, so that’s why we’re…
Australia’s leading economists believe Australia can sustain an unemployment rate as low as 3.75% – much lower than the latest Reserve Bank estimate of 4.25% and the Treasury’s latest estimate of 4.5%. This finding, in an Economic Society of Australia poll of 51 leading economists selected by their peers, comes ahead of next month’s release…
