Hi all, A quick note to offer guidance on the new website. As well as the layout changes that make it easier to access content for new readers, it comes with a dramatically improved sign-up and resubscription process, greatly enhanced speed, and a much better mobile experience (since 95% of traffic is now phone!). The
International Reading: âTrump Is Manipulating The Marketâ: President Hyping Companies After Buying Stock – Substack Jeff Bezos wants the bottom half of earners to pay zero income taxâhe says nurses making just $75K should save $12K a year – Fortune Trump labeled ‘most corrupt president in American history’ after IRS settlement – The Mirror MAGA
According to Pauline Hanson’s One Nation gas policy, “a minimum 15% of all gas extracted from Australian sources” should be set aside for the domestic market. According to the policy’s wording, the 15% reservation appears to cover all gas, including the East Coast It doesn’t say whether it would be grandfathered or exempt smaller projects.
The changes to negative gearing and capital gains tax (CGT) announced in last week’s federal budget were specifically designed to push investors away from existing homes and towards new construction by restricting tax benefits to new builds only. The aim is to shift investor demand so that investment adds to housing supply rather than bidding
Last year, the Centre for Public Integrity, an independent research agency, reported that 24% of FOI requests were denied during Labor’s first term in office. In comparison, the proportion of applications refused ranged from 10% to 18% over the Coalition’s previous nine years in office. Similarly, more than half of FOI applications were approved in
BCA nails my view of the world today. Top Takeaway: US stocks and bonds are on a collision course. Only a meaningful equity selloff is likely to pull bond yields considerably lower. Global equity risk-reward looks poor. The dollar will stay firm near term, but its medium- and long-term outlook remains bearish. US Bond Bear
It’s now official: Australia is running three simultaneous self-reinforcing shocks. The first factor is the oil shock, which is hindering growth and is exacerbated by the RBA’s tighter-than-expected monetary policy. The second shock is a crash in job creation at entry-level positions. Youth unemployment is increasing rapidly and is already in the lower bands of
This is what the fog of war looks like. It is thicker than usual with the American Madman. Al Arabiya issues dramatic retraction on prior ‘deal reached’ reporting. Iranian president vows to not back down, as Trump still vows to get nuclear material. AI Arabiya TV obtains what it describes as final draft of US-lran agreement,Â
The Budget papers show that the federal government’s total spending on disability in the 2027 financial year will come in at $98.1 billion, despite its efforts to curb the National Disability Insurance Scheme’s (NDIS) growth. The forecast spending comprises $56.1 billion for the NDIS, $27.6 billion for financial support for people with disabilities, and $13.97
When legends like Richard Koo weigh in, it is worth listening. He sees a long war in Iran, putting a lot of pressure on the JPY. Normalization of monetary policy essential to address falling yen and rising oil prices There would be no problem if conditions remained as they were five years ago, when the
SQM Research figures released on Wednesday have revealed that weekly asking rents across the capital cities have risen an average of 6.9% compared with a year ago. SQM Research managing director Louis Christopher told The AFR that the yearly rate of gain is tipped to go as high as 10% over the next year, with
With the Australian winter now less than a few weeks away, the grey skies and damp conditions that see over a million Australians down with the winter blues each year are almost upon us. But this year the mood among the people of Australia is already in a deeply depressed state. According to the latest
Australia’s income tax system is a scam. Despite real wages in Australia collapsing to late 2011 levels and not forecast to rebound by 2028: The amount of income tax paid has risen inexorably as nominal wage growth pushes people into higher tax brackets, raising their average tax rates. The budget papers showed that government revenue
The first question: Why do you want more money in your super? You can save on income tax now. Your superannuation is taxed at 15%for contributions up to a limit. There are also various government incentives. Earnings on investment returns are tax-free in retirement. And prior to retirement, you can save on the tax paid
The Australian Bureau of Statistics (ABS) today released an ugly labour force report for April, with employment decreasing by 18,600, the unemployment rate rising by 0.2% to 4.5%, despite the participation rate falling by 0.1%: As illustrated below by Justin Fabo from Antipodean Macro, the rise in unemployment was well above the Reserve Bank’s forecast
The federal government has introduced a suite of structural, legislative and administrative reforms to slow the rapid growth in National Disability Insurance Scheme (NDIS) costs. The changes fall into five broad categories: tightening eligibility, reducing plan inflation, cracking down on fraud and nonâcompliance, shifting some demand outside the NDIS, and workforce restructuring. Stricter access and
More gas cartel whinging today at Cartel Headquarters. Forcing east coast gas producers to sell 20 per cent of their LNG exports into the domestic market will kill gas companies and destroy businesses, according to Santos chief executive Kevin Gallagher, who says Australia risks going the way of Argentina and its failed export industry. The
NSW Treasurer Daniel Moohkey claims that private investment in renewable energy projects has stopped NSW from slipping into recession. âThe number of renewable Âenergy projects now under construction, combined with all transmission lines and grid Âconnections currently being fixed, extended or upgraded, explains why the NSW economy is set to avoid a recessionâ, Mookhey said
In this weekâs podcast, Nucleus Wealthâs Chief Investment Officer, Damien Klassen, takes a hard look at Australiaâs shrinking fuel buffers â asking when do the pumps run dry? We break down the state of Australiaâs oil reserves, the vulnerabilities in its supply chain, and what declining energy security means for markets, inflation risks, and investor
The AFR campaigns for productivity reform all the time. Then it constantly tries to kill it when it comes. Wankers. Keating excoriated âhowlsâ from wealthy business people who had âfeastedâ on lightly taxed capital gains for 25 years and now opposed the return to the inflation indexation of capital gains that he set up as
In the years following the COVID-19 pandemic, Australia’s construction sector experienced a sharp rise in construction insolvencies. This wave of insolvencies was driven primarily by fixed-price contracts undertaken in the wake of the HomeBuilder stimulus. After these contracts were signed, supply chain bottlenecks sent material and labour costs soaring, which, combined with rising interest rates,
So far, it has only happened in private. Will it happen officially? ANZ explores. Australia is heavily dependent on refined fuel (diesel, petrol and jet fuel), with over 90% of these fuels imported. The transport, mining and agriculture sectors are highly dependent on fuel. For the transport sector, around 12% of its inputs come from
Sydney’s housing market is experiencing an accelerating downturn, with prices falling and auction clearance rates crashing, according to Cotality: Justin Fabo from Antipodean Macro also reported that residential transfer duty transaction volumes have fallen sharply in NSW, consistent with the slowing property market: NSW Treasurer Daniel Mookhey used a pre-budget address to the McKell Institute
The AFR is an absolute specialist in hypocrisy. Bill Winters, who has run the $77 billion emerging market-focused bank Standard Chartered for 14 years, announced a plan to slash up to 8000 jobs between now and 2030 by deploying AI. There will be job âreductions in favour of machines, and that will accelerate as we
The flash PMI is sickening again. Flash Australia Composite PMI Output Index: 47.8 Index, sa, >50 = growth m/m % qr/qr (Apr: 50.4) Flash Australia Services PMI Business Activity Index: 47.7 (Apr: 50.7) Flash Australia Manufacturing PMI: 50.2 (Apr: 51.3) Flash Australia Manufacturing PMI Output Index: 48.5 (Apr: 48.5) Although the Australian private sector economy
Lots of headlines. All bullshit. Citi joins my team of Iran bears today. We continue to believe that oil markets are under-pricing duration and tail risks, and we expect Brent to trade up to $120/bbl in the near term. We continue to recommend that clients consider taking exposure to near-dated Brent as a hedge against
