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The Latest Breaking News from Saul Eslake

Govt 'not yet insolvent' but budget needs fixing, Libs say

Government 'simply ignoring' revenue measures, ACT Greens say.

The Canberra Times

Minister defends college system after economist questions high costs

School buildings 'a legacy of the Commonwealth government'.

The Canberra Times

Financial deterioration 'entirely due' to ACT govt decisions, economist finds

Govt spent on services and infrastructure without raising revenue.

The Canberra Times

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‘Death tax’, startups and a rent spike: it’s time to correct misleading claims about Labor’s budget

Jim Chalmers’ budget has proved controversial. But who will really be affected and how?

The Guardian - AU

Why budget rhetoric won’t match reality for many younger Australians

Figures show the treasurer’s reforms will make the tax system fairer but some will not have the advantages enjoyed by their parents

The Guardian - AU

'Downside risks': warning as state debt edges to $200b

A $200 billion state budget debt bomb remains live and ticking as a long-time Labor government favours cost-of-living measures for struggling families.

AAP

Capital gains discounts were meant to usher in an Australia of ‘shareholders’ – not property speculators

Defenders of the Howard-era discount say ‘if you tax something more, you’ll get less of it’. But less investors in the housing market is a good thing

The Guardian - AU

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Fuel pain to last longer despite tax cut kicking in

Fuel prices won't immediately become cheaper at the bowser as a tax cut comes into effect, and might take weeks to flow through to motorists.

AAP

NSW emerges as main loser from GST carve-up as WA gets extra $5.5bn

NSW premier says latest distribution calculation, with a reduction in the state’s share of revenue relative to its population, is unfair and ‘past its use-by date’

The Guardian - AU

'Broken and unfair': states urge change to GST carve-up

The cost to Australian taxpayers of a contentious GST carve-up will rise by another $6.6 billion in 2026/27, sparking fresh anger from critics of the deal.

AAP

Trump's new tariff call may narrow Aussie export edge

Australian exporters may lose their competitive edge in the US market if Donald Trump's global 15 per cent tariff plan goes ahead.

AAP

Three Australian millionaires say the nation’s super-rich should face higher taxes

Dick Smith, Graham Marr and Richard Barnes are the only Australians among 400 millionaires and billionaires globally to sign an open letter calling for higher taxes on the super rich

The Guardian - AU

Self-interest widening wealth gap between old and young

Bridging the gap in wealth between older and young Australians will require a major recalibration in housing attitudes and policies, a leading economist says.

AAP

Once Australia’s second priciest city, Melbourne has become more affordable. What happened – and will it last?

More homes and less property investor activity has seen Victoria’s capital rise up the affordability rankings

The Guardian - AU

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The Guardian - AU

Millions of Australians eligible for 5% first home buyers scheme may be unable to afford repayments

Greens and experts argue policies that let first home buyers spend more than usual only creates more expensive housing – without lifting the proportion of homeowners

The Guardian - AU

Australia’s workers reaping greater share of national income than before pandemic

Westpac economist says tighter labour market is behind changes in how the ‘economic pie’ is divided

The Guardian - AU

Negative gearing on short-stay rentals costs Australia up to $556m a year, report estimates

Almost 170,000 homes are estimated to be operating as short-stay accommodation, which can still claim tax breaks

The Guardian - AU

As the economy slows and productivity flatlines, is Australia having another banana republic moment?

In 1986 Paul Keating warned the nation was headed towards economic disaster without reform. Now, Jim Chalmers faces a similar dilemma

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AAP

Responsibility, not legacy driving Chalmers to reform

Jim Chalmers' economic roundtable will likely present some low-hanging fruit around regulation but hefty tax reform will be more challenging for him to grasp.

The Conversation

Grattan on Friday: Can Jim Chalmers reap a healthy crop with the help of his big worm farm?

One observer describes next week’s economic roundtable this way: “Chalmers has opened a can of worms – and everybody has got a worm”.

The Guardian - AU

Victoria could save nearly $500m over 10 years by scrapping greyhound racing, estimates show

Exclusive: Parliamentary Budget Office analysis shows any loss of revenue from betting would be offset by lower government spending

AAP

Another greyhound racing ban could see dishlickers done

It's a dog day afternoon for the greyhound racing industry as another government announces plans to stop punters spending a night at the dishlickers.

AAP

Back-to-back rate cuts tipped when Reserve Bank meets

The Reserve Bank of Australia's interest rate meeting is set to take top billing as markets expect the board to hand down another cut.

The Guardian - AU

Aukus will cost Australia $368bn. What if there was a better, cheaper defence strategy?

As questions swirl around the nuclear submarine deal, some strategists are pushing for an alternative, ‘echidna’ policy that focuses less on offensive capability

AAP

Fears super tax rise for rich will whack housing market

Slapping taxes on high superannuation balances may be well intended, but the federal government's plan could harbour some pitfalls.

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