RBA will decide on whether to lift interest rates, Jim Chalmers puts super-sized retirement nest eggs in the firing line and the Voice debate continues.
In Victorian news, the Allan government will expand its tax on vacant residential land, introducing new legislation to include all the state in the policy.Treasurer Tim Pallas announced the tax policy at a Property Council of Australia Breakfast today.
“They’ve been able to prosecute this division argument which actually isn’t true. There has always been a resistance mob that has resisted every change. But it’s very small and social media has amplified it.” Even so, analysts still expect longer-term headwinds for bank returns. They point to rising costs and stiffer competition in mortgages, and warn that bad debts are still likely to rise as a result of interest rates jumping 4 percentage points since May 2022.
He told ABC radio the government just received the report, which it was still going through and, of the 222 recommendations, 99 of them were a Commonwealth responsibility.We will examine really carefully all of the recommendations and respond appropriately. But this is a serious piece of work.We’ll examine it. We’ll continue to engage and talk with stakeholders.
Other regions with a high fire danger rating and a total fire ban include the Northern Slopes, Central Ranges and Lower Central West Plains.People in those areas have been urged to take shelter now. It comes as Treasurer Jim Chalmers is going to push the Coalition to increase tax on large superannuation balances, with a
“It’s something we believe should be passed, and we would hope the Greens would not hold up a very good measure that I know they agree with, just to add on another measure.”
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