In 2020-21 the biggest companies in Australia were able to reduce their taxable income to just 12% of their total income

In the past 7 months, the Reserve Bank has increased the cash rate by 275 basis points. That is as fast as any time since the RBA became independent. Given the pace of inflation growth, the rises are not wholly without cause, but as policy director, Greg Jericho notes in his Guardian Australia column the main drivers of inflation are now easing, and wages are yet to take off. In that case, should the RBA continue to raise rates given it will only slow the economy further?

Wages are rising within the RBA’s target band of inflation but profits are soaring 7 times that rate. And yet the RBA is more concerned with rising wages than profits

Talk is cheap, the saying goes, but decades of neoliberalism and failed trickle-down economics means Australia needs to begin some new and more meaningful conversations about the kind of country we want to be.

The Stage 3 tax cuts are not just unfair, they create a massive hole in the budget

Right now the gas industry is booming, but the Petroleum Resource Rent Tax is not.

People around Australia have been seeing the advertised prices of rents increasing, now the inflation figures are catching up.

On Wednesday the latest inflation figures showed that in the 12 months to September prices across Australia grew by 7.3% – the fastest rate since 1990.

The Government acknowledges the need to get wages growing again, but the budget reveals just how big the task is

The October Budget delivers on a range of welcome bread & butter commitments, but has deferred solving Australia’s meat and potatoes revenue problems until at least May 2023, according to independent think-tank the Australia Institute. “The meat and potatoes revenue reforms Australia needs, like scrapping stage 3, a windfall profits tax, or fixing the PRRT

New research shows multinational gas corporations are using sophisticated accounting tricks and loopholes to avoid paying their fair share of tax, despite making windfall profits. The new report Reforming the Petroleum Resource Rent Tax shows how billions could be raised in the Budget by fixing loopholes and cracking down on multi-national tax avoidance in the

A comprehensive review of inflation released today by the Australia Institute’s Centre for Future Work reveals that the inflation targeting in place since the early 1990s is not the neutral policy many assume it is. In that time inflation has missed the target more from below than above, and has coincided with a shift of national income away from workers to profits as wages have stagnated.

How is it that in Australia, one of the richest countries in the world, we have a housing crisis where hundreds of thousands of renters can’t afford a roof over their head? To figure out why rents are soaring, we need to look at the broader political disease: we have spent about two decades trying

Australia’s and Norway’s economies both have massively profitable resource industries, but Norwegians receive a much larger and fairer share

The latest data from the Bureau of Statistics on families shows that more than ever before couples with dependants are both working.

New analysis shows Liquified Natural Gas (LNG) producers reaped up to $40 billion of windfall profits in FY 2021-22 thanks to soaring global gas prices due to the war in Ukraine. The research comes following a damning report from the ACCC into the gas industry around price-fixing and subsequent condemnation of cartel-like behaviour on the

The Australian Council of Trade Unions is sponsoring a series of webinars for union members, delegates, officials, and leaders on the current crisis in the cost of living in Australia. The surge in inflation since economic re-opening after COVID lockdowns has obviously intensified that crisis. But the seeds for it were planted long ago: by a decade of historically weak wage growth, a speculative property price bubble, and a systematic efforts to weaken collective bargaining and unionisation.

In the past twelve months low-income earners have seen their real wages fall faster than ever before, their mortgage interest rates rise faster than ever before and, here’s the real kicker: their average tax rates actually increase. To be clear, someone working on the minimum wage has seen the amount of tax they pay rise

This week the IMF released its latest World Economic Outlook. And the outlook is dire. Economic growth around the world was downgraded with recession-like conditions being predicted for many advanced economies including the USA, UK and much of the EU.

The Stage 3 tax cuts will only balance out the tax increase from the end of the low-middle income tax offset for those earning above $97,000

The end of the Low-Middle Income Tax Offset will deliver a tax increase of up to $1,500 for people earning under $90,000 – a 3% tax rise for someone on $50,000

New research has revealed that Gen Z would receive only 2.8% of the first year of the Stage 3 Tax Cuts legislated by the Morrison Government. The newly released age-based data break down reveals that in financial year 2024-2025, those under 25 years old would receive only 2.8% of the billions in tax cuts which

Taxation data shows which occupations will get the biggest cuts – and how few people work in them

Jim Chalmers has a once in century opportunity to spend a quarter of a trillion dollars on nation building without going into a cent of debt. In fact, if he chooses his public investments well he could drive growth up, cost of living down, and pay down the Morrison Government’s debt faster than currently expected.