Business + Economy – Research and News

Malcolm Turnbull said the May budget would be the government’s tax platform and, for ‘all practical purposes’, its white paper. Mick Tsikas/AAP

Turnbull points to problems in raising GST

Malcolm Turnbull has said the budget will contain the government's tax policy, and questioned whether the benefits of increasing the GST would be worth the difficulties of doing so.
Treasurer Scott Morrison said people were not interested in “reading a large tome on tax”. Aaron Bunch/AAP

Morrison open to changing tax white paper process

Treasurer Scott Morrison has opened the possibility for an alternative to the government's present white paper process for tax reform.
Innovation Minister Christopher Pyne and Prime Minister Malcolm Turnbull launched the innovation statement at the CSIRO. Mick Tsikas/AAP

‘Ideas boom’ to drive the Australian economy: Turnbull

Malcolm Turnbull is looking to an "ideas boom" to be the new source for Australia's growth, prosperity and jobs now the mining boom has faded.
Treasurer Scott Morrison has banned the Chinese acquisition of the vast S. Kidman and Co property holdings in its current form on the basis of the land’s size and security issues. Flickr: Ladymaggic

Morrison blocks Chinese acquisition of historic Kidman cattle empire

Treasurer Scott Morrison has blocked Chinese attempts to purchase the vast Kidman empire - which amounts to 1.3% of Australia's total land area.
ACOSS CEO Cassandra Goldie has released modelling which shows that an increase to the GST will disproportionately affect those on lower incomes. AAP/Lukas Coch

GST hike regressive and should be a last option: ACOSS

The Australian Council of Social Service has released modelling on the regressive effects of increasing or broadening the GST.
Prime minister Malcolm Turnbull has accepted almost all the recommendations from the Murray Inquiry into the financial system. Mick Tsikas/AAP

Government to act against businesses exploiting credit card charges

The Turnbull government will ban businesses from charging consumers excessive surcharges on their credit cards, and move to inject more competition into the superannuation industry.
Prime Minister Malcolm Turnbull has indicated that changes to superannuation are on the table. David Moir/AAP

Submissions want super tax concessions cut: Treasury

Submissions to the government's taxation white paper show support for reducing concessions for superannuation but with no clear agreement on how to do this.
Reserve Bank governor Glenn Stevens condemned the “inability to find political agreement” on infrastructure. AAP/Dan Peled

Another rate cut possible due to weak economy: Stevens

Reserve Bank governor Glenn Stevens has left open the possibility of another rate cut, but warned against expecting monetary policy to do too much of the work in encouraging economic growth.
Large movements in relative prices will create winners and losers this year, the IMF has said. EPA/MICHAEL REYNOLDS

China economy to slow, hurting Australia: IMF

A new IMF report predicts a crackdown on cheap credit in China will help reduce China's real GDP growth rate from 7.4% last year to 6.8% this year and further weaken demand for Australian commodities.
Greens leader Christine Milne argues Australia is not doing enough to combat corporate tax avoidance. Lukas Coch/AAP

Experts caution Australia on unilateral ‘Google tax’

Treasurer Joe Hockey is considering a Google tax similar to that introduced in the UK, but experts warn it could derail global action on tax avoidance.