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Mining Democracy

photo credit: Urban~Spaceman Miners finally agree to tax reform. What are the changes? The attempt to harness economic rents for the public good has been renamed from the Resource Super Profits tax to the Mineral Resource Rent Tax. The MRRT kicks in at the corporate...

Put away that cheque book, home buyers

photo credit: UGArdener   This morning, Reserve Bank of Australia Governor Glen Stevens appeared on Seven Network’s Sunrise program to talk up interest rates and talk down the property market. Using tabloid television to broadcast RBA views is unprecedented. It...

Land banking

You’ve got to love real estate spruikers. They are so consistent and always so wrong. David Morrell purports to be a buyers’ advocate. On 5th March in The Age he was saying how you can’t go wrong with “land banking” in Toorak. Well maybe....

Opportunity has a name: it’s called land

photo credit: Ravages by Gavin R. Putland If the Australian economy has come through the Global Financial Crisis in such fine shape, why do we have an official unemployment rate over 5%, and a real unemployment rate two or three times higher? Why aren’t there...

High Rents and Low Wages

photo credit: Omar Eduardo Taken from an early 1900’s document I don’t know what the country is coming to; I work from morning till night every day of my life and yet it’s as much as I can do to make ends meet. I am Simply Working for the Landlord !...

Income Tax: The Zero Option

Since the Howard government gained control of the Senate, we have been hearing numerous proposals for reducing the top marginal rate of income tax. The excuse is that high marginal rates reduce the incentive for wealth creation and encourage tax minimization....

Your Home: The Tax Haven That Never Was

SPIN: The Family Home is exempt from land tax. (And all the people shall say: Amen.) FACT: If home buyers don’t have to pay land tax, they can afford higher mortgage repayments, hence higher prices. While the price of a house is limited by the cost of...

IR Reform: Let Banks Collect P.A.Y.E. Tax

The Howard government’s industrial relations agenda attacks the wages and conditions of workers as if this were the only way to reduce the cost of hiring. What about the administrative costs imposed by government? For example: If you become an employer, you must...

IR Reform: Who Really Wins?

Who are the real winners and losers under the Howard government’s industrial relations reforms? We think you can work it out for yourselves. Here are some hints: 1. If workers in firms with less than 100 employees have lost their protection against unfair...