Business + Economy – Research and News

Barnaby Joyce has announced an assistance package for beleaguered dairy farmers. Mick Tsikas/AAP

Dairy farmers get $555 million in concessional loans

Agriculture Minister Barnaby Joyce has announced a package of concessional loans and facilitation of access to assistance for the beleaguered dairy industry.
Treasurer Scott Morrison says ‘this is not a time to be splashing money around’. Mick Tsikas/AAP

Election budget sends companies sweeteners to drive growth

The Turnbull government has promised company tax cuts to stimulate investment and action to prevent middle-income earners moving into a higher tax bracket, in a budget that will launch its election campaign.
Scott Morrison told a news conference the Turnbull government welcomed foreign investment where it was consistent with Australia’s national interest. Mick Tsikas/AAP

Kidman sale to Chinese given preliminary ‘no’

Treasurer Scott Morrison has announced that his "preliminary decision" is that the purchase of the Kidman pastoral empire by a Chinese-dominated buyer "is contrary to the national interest".
Scott Morrison told a joint news conference with Assistant Treasurer Kelly O'Dwyer that the banks would pay an additional $121 million to increase the resources of ASIC. Lukas Coch/AAP

Morrison warns banks not to pass on new ‘user-pays’ impost to finance ASIC reform

Scott Morrison has warned the banks not to pass on to customers the $120 million user-pays charge imposed on them to finance a strengthened Australian Securities and Investments Commission.
Opposition leader Bill Shorten says public confidence in the banking sector has taken ‘hit after hit’ in recent years. Tracey Nearmy/AAP

Labor pledges royal commission into bank behaviour

Bill Shorten has promised a Labor government would set up a royal commission into misconduct in the banking and financial services industry.
Prime Minister Malcolm Turnbull attending Westpac’s 199th birthday lunch in Sydney on Wednesday. Dean Lewins/AAP

Banks get a bollocking from Turnbull on ethics

Prime Minister Malcolm Turnbull has given banks a bollocking for unethical behaviour, suggesting they have not repaid the support they received during the global financial crisis.
The Productivity Commission last year recommended that Sunday penalty rates should be brought in line with those applying to Saturday. Evan Schwarten/AAP

Penalty rate cut will hurt economy without helping business: Labor

The federal opposition says that reducing penalty rates in the retail and hospitality sectors would widen the gender pay gap across the economy and hit consumption.
Cabinet Secretary Arthur Sinodinos outlines the case for a cut in the company tax rate. Mick Tsikas/AAP

Workers would benefit from lowering company tax: Sinodinos

Cabinet secretary Arthur Sinodinos has made a strong pitch for giving priority to a company tax cut in the coming budget as the best way to boost growth, with a significant flow on for workers.
Scott Morrison told a Melbourne business summit a path for lower personal and company tax could not all be done in one budget. Mal Fairclough/AAP

Morrison talks down personal income tax cuts

Treasurer Scott Morrison has moved to dampen expectations about the government's ability to provide early personal income tax cuts.
Treasurer Scott Morrison with Tony Abbott in September 2015. Sam Mooy/AAP

Morrison ruffles Abbott’s feathers on tax policy

Treasurer Scott Morrison, already under fire for not having tax policy out, has got into a stoush with former prime minister Tony Abbott over how much work was done before the leadership change.
Treasurer Scott Morrison emphasises the government’s desire to control “new spending” in a speech to the National Press Club. Mick Tsikas/AAP

Morrison still hopeful of modest relief on tax bracket creep

Treasurer Scott Morrison has "rescaled" the tax debate to hold out the prospect of "modest" tax relief that may prevent average wage earners moving into the second highest tax bracket.
ACOSS says over 90% of investment in negatively geared housing stock applies to existing properties. Paul Millar/AAP Image

Include a crackdown on trusts in tax reform: ACOSS

The Australian Council of Social Service has called for the tax treatment of private trusts to be tightened, which it says could save $1.5 billion in 2017-18.