Chris Bowen

Labor given steer on how to target the truly rich

Labor given steer on how to target the truly rich

“That would target wealthy people while leaving unharmed people like my mother, who was above a pensioner but the impact of the change would be that she would earn less money than a pensioner.”If it wins the next federal election, Labor will make franking credits non-refundable for everybody except those who qualify for a Centrelink…


Labor’s negative gearing changes deter new home buyers, poll finds

Labor’s negative gearing changes deter new home buyers, poll finds

‘Chilling warning’Federal Treasurer Josh Frydenberg said the survey results were a “chilling warning about the danger of Labor’s ill-conceived and untimely housing taxes”.”The findings show that not only will Labor’s housing taxes not work as intended, but they will have the opposite effect – driving down new housing supply and construction.”The Treasurer also jumped on…



Morrison shelves Future Fund super default plan amid union backlash fears

Morrison shelves Future Fund super default plan amid union backlash fears

Several government ministers including Treasurer Josh Frydenberg, Minister for Jobs and Industrial Relations Kelly O’Dwyer and Assistant Treasurer Stuart Robert thought a public default fund option had merit and was worth exploring, sources said.But behind the scenes, Finance Minister Mathias Cormann, who has sided with the financial services industry on past policy fights such as…




‘How pathetic’: Paul Keating slams PC, Clive Palmer for ‘dudding’ workers

‘How pathetic’: Paul Keating slams PC, Clive Palmer for ‘dudding’ workers

“How pathetic is this as a policy recommendation?” Mr Keating said.”It is no news to anyone that the Treasury never supported the advent of compulsory superannuation.”It was delivered by political and industrial entrepreneurship. And only by political and industrial entrepreneurship.”Periodic increasesIn Superannuation: Assessing Efficiency and Competitiveness, the government’s independent economic adviser signalled doubts about the…


Future Fund tender plan for superannuation

Future Fund tender plan for superannuation

John Wylie, a high-profile capital markets veteran who is involved with the Oxford university endowment fund, said giving Australians access to the Future Fund would be a “very good” move and better than the commission’s recommendation for a panel of experts trying to pick top-performing funds based on past performance.”The Future Fund is a well…