Latest Finance & Tax Stories

Confession time for Lendlease as Tax Office bears down on humungous tax rort

Confession time for Lendlease as Tax Office bears down on humungous tax rort

Nine Entertainment chief Hugh Marks dumped for having sex, Christine Holgate chopped at Australia Post over $20,000 in bonuses. Meanwhile, the top brass at Lendlease, having presided over a $500 million tax scam, nonchalantly say they are “continuing to engage with the ATO and await the finalisation of its draft determination”. Michael West reports.

Taxes are not a burden: they provide many of the good things in life

Taxes are not a burden: they provide many of the good things in life

Coalition spending over the past six years has been nearly half that of the past 40 years and is forecast to drop further. With many services already cut to the bone, even the Parliamentary Budget Office has warned such ‘spending restraint’ is likely to be unsustainable. In a post-pandemic world, bringing forward tax cuts that only benefit high earners would be irresponsible, writes Michael Keating.

Do the grandchildren really pay the debt? The problem with Scott Morrison’s plan for recovery, and MMT

Do the grandchildren really pay the debt? The problem with Scott Morrison’s plan for recovery, and MMT

The Government’s plan for economic recovery is wrong. Michael West investigates Modern Monetary Theory (MMT) and the false assumption that the national Budget is like the household budget, or a business. They are already creating new money while denying the proposition that creating new money will expand the economy; preferring to punish casual workers and Arts students, and pursue austerity instead.

Government debt deepening rapidly – well before COVID-19

Government debt deepening rapidly – well before COVID-19

The Coalition won the 2013 federal election beating their chest about Labor’s “debt and deficit”. Thanks to COVID-19, we’re unlikely to see a surplus in our lifetime or our children’s. But, let’s not forget that the current debt blow-out occurred well before the coronavirus impacted the economy. Alan Austin checks how Australia shapes up against other OECD countries.

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