June 2009

May 2009

Where has all the revenue gone? To tax cuts for the rich!

The underestimated revenue in the years from 2003-04 to 2008-09 is now running at $83.4 billion. Around half of that has been returned as tax cuts which disproportionately help people earning double or more than average weekly earnings (AWE). The research reveals that as a result of the past and proposed income tax cuts a

Where has all the revenue gone? To tax cuts for the rich!

by David Richardson in ABC The Drum

Right up until the end of the resources boom and the onset of the global financial and economic crisis, the government was flush with money, a result of the virtually continual ‘surprises’ as economic growth, and especially government revenue, came in way over budget forecasts in each of the years from 2003-04 to 2007-08. By

Banks gouge 3 cents out of every dollar spent in Australia

The nation’s big four banks are reaping profits amounting to three cents in every dollar spent in Australia. Westpac’s announcement today that its half year profit was $2,175 million brings the total half year profit reported by the big four, Westpac, ANZ, Commonwealth Bank and National Australia Bank, to $8,269 million, or 1.5 per cent

Time to reform capital gains tax

by David Ingles in ABC The Drum

There are strong equity and efficiency arguments for taxing all income from capital at the same rate; the current concessions are wrong in principle and regressive in practice. The focus should be on why the wealthy enjoy the unique privilege of having a sizeable part of their real income taxed at half the normal rate.

April 2009

True unemployment rate update

An analysis of new Australian Bureau of Statistics data by The Australia Institute reveals that in September 2008 there were 780,900 people who did not have a job, wanted to work but were not included in the unemployment figures. Taking account of these ‘hidden unemployed’ brings Australia’s real rate of unemployment to 11.7 per cent,

True unemployment rate now at 11.3 per cent

The number of Australians out of a job is significantly more than widely reported. An analysis of new Australian Bureau of Statistics data by The Australia Institute reveals that in September 2008 there were 780,900 people who did not have a job, wanted to work but were not included in the unemployment figures. Taking account

March 2009

Wong must cap and slice

by Richard Denniss in The Australian

The CPRS in its current form is deeply flawed. If the government wants to see the legislation passed, it is going to have to amend its proposal. In order to take advantage of every additional emissions reduction and allow every concerned citizen to make a direct contribution, the government needs to convert its ‘cap and

February 2009

An idea whose time never came

by Richard Denniss in Analysis & Policy Observatory

It is often said that there is nothing more powerful than an idea whose time has come. But it seems that in the case of Minister Wong’s version of emissions trading, the so called Carbon Pollution Reduction Scheme (CPRS), there is nothing more pitiful than an idea whose time never actually came. The targets are

Rudd neglects the ‘unworthy’ poor

The announcement of a $42 billion stimulus package, which provides thousands of dollars to families earning up to $200,000 and almost nothing to the long-term unemployed, is evidence that the Rudd Government like the Howard Government before it is distinguishing between ‘worthy’ and ‘unworthy’ recipients of government assistance.

Making life easier for emitters

by Richard Denniss in Analysis & Policy Observatory

The unfortunate reality is that, having waited a decade for a government to express a willingness to do something about climate change, we are now faced with a choice between a policy that locks us into failure by dictating that emissions in Australia cannot fall by more than five per cent and abandoning the CPRS

January 2009

Sloppy super

by Josh Fear in The Australian

Debates about superannuation policy are often ideological in tone.People in finance and investment circles tend to forget that the majority of Australians are profoundly disengaged from their super, at least until they approach retirement. The super system is so complicated that many workers take the simplest option – doing nothing. Governments therefore have a responsibility

NL 57, December 2008

Hugh Saddler and Helen King examine the difficulties implicit in applying emissions trading to agriculture; Josh Fear reclaims your time from the telemarketers and examines the superannuation industry in Australia; David Richardson explains how accelerated depreciation would help the renewable energy industry; Richard Denniss looks at a new top tax rate; John Langmore asks whether

December 2008

Choice of Fund fails to engage consumers

The Choice of Fund Policy has failed to resolve widespread consumer disengagement with superannuation. As few as four per cent of workers switch super funds each year and around half of this is ‘passive’ choice due to job change or fund closure. Choice of Fund has also been largely unsuccessful in lowering the number of

November 2008

October 2008

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