canberra

The bank cartel has a new enemy

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The federal Treasurer Scott Morrison used parliament yesterday to fire an extraordinary broadside at Australia’s banking cartel. Conservative governments rarely indulge in the public thrashing of such major supporters of the status quo. Morrison and the Turnbull government are absolutely furious with the big 4 banks and Macquarie for their brazen pursuit of self-interest at […]

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Reading tea-leaves won’t help – look at the tax bases

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Cameron Kushner of CoreLogic has offered an interesting analysis of property tax bases in Taxation Revenue From Property Continues to Climb. Tax bases reveal more about a country’s future prospects than Treasury forecasts and economist sooth-saying. Where and how it taxes is the single most important tool government has to foster national prosperity. It is […]

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The young can’t count; the young don’t matter

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Last night’s federal budget included a fat gift to downsizing homeowners over 65 who can now put up to $300,000 from their house sale into superannuation, allowing many to keep their (part) pension and, most importantly, unlimited free healthcare. This stunning generosity to the asset-rich is in striking contrast to the Turnbull government’s behavior toward […]

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Turnbull Government prepares to squib on PRRT

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The Petroleum Resource Rent Tax has been a successful revenue-sharing device since 1987, delivering well over $33 billion to Consolidated Revenue, derived entirely from the economic rents of resource extraction with no harm to producers. It has never deterred exploration or hindered output. Treasurer Scott Morrison commissioned a Treasury review by Michael Callaghan into why […]

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Victoria to tax vacant properties into use

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Premier Daniel Andrews announced a range of housing affordability measures Sunday, some of which will help. The eye-opener is the introduction of a Vacant Residential Property Tax at one per cent of the capital improved value on properties held vacant for six months or more. This mimics Vancouver’s Vacancy Tax introduced last November – also […]

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This government wouldn’t fight for a trillion dollars

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Treasury is asking why the Petroleum Resource Rents Tax collects only a fraction of the revenues it could. Actually, they know exactly what is wrong, but need public consultation in case someone has a bright idea to fix this broken tax without conflict. There are billions of dollars involved. If government wants the money, a […]

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True Grit: leadership, political backbone and advancing the national interest

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The worst tax we pay is a state charge – conveyancing Stamp Duty, which makes it hard, sometimes impossible, to move across town to a better job or around the corner to a bigger or smaller home. Anyone living with modern teenagers and the elderly in a house of many steps or plentiful weeds know […]

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Seize the Day, Scott Morrison – rid Australia of a bad tax and free up the land

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The land supply equation in Australia – flashing red danger signals for years – has finally come to the attention of federal Treasurer Scott Morrison, who is charged with the task of advancing national prosperity. He may even be prompted into action. Notoriously well-connected Alan Mitchell is out today in the AFR with the latest […]

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The Tax Men from Mars landed in ACT – and were asked to stay

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Saturday’s Australian Financial Review always needs a nice read and today it is the ACT government’s progressive removal of Stamp Duty that increased council rates on a million dollar property from $2200 a few years ago to $3000. What a terrible thing to do! Mather, Ludlow & Schlesinger are astonished the Barr government was returned […]

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The First Interval – Evaluating ACT’s Land Value Tax Transition

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; The First Interval – Evaluating ACT’s Land Value Tax Transition By Dr Cameron Murray Prosper Australia commissioned Dr Murray to examine the early benefits of ACT’s 20 year process replacing conveyancing stamp duty with land tax. He will present his calculations and conclusions at: 12.30-1.15pm Monday 12 September 2016 Boardroom, Hotel Realm 18 National […]

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