Blogotariat

Oz Blog News Commentary

Sharing economy faces tax office crackdown

January 23, 2019 - 10:00 -- Admin

By Leith van Onselen The federal government is planning a tax crackdown on the 11 million Australians who earn income from platforms such as Uber and Airbnb. It is estimated that income from shared-economy platforms now totals around $15 billion a year, but at present the Australian Taxation Office (ATO) is unable to determine the

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Morrison Clarifies Dress Code: Thongs Out, But Flip-flops Fine!

January 23, 2019 - 09:31 -- Admin

Just when we all thought that Donald Trump was the answer to the question: How stupid can a politician be?, up steps Australian’s contender in Scott Morrison! Old ScoMo has been around for years, but like that relative you only see at Christmas, you’ve just considered him irrelevant and rather boring. However, now that he’s…

Developer: Labor’s negative gearing policy to boost supply

January 23, 2019 - 09:30 -- Admin

By Leith van Onselen The Coalition’s incessant claim that Labor’s negative gearing policy would reduce rental supply and force-up rents has been demolished once again, with one Sydney developer claiming that Labor’s policy would be a “shot in the arm” of the off-the-plan market. From The AFR: Mark Bainey, chief executive of Capio Property Group,

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Bowen admits federal budget low on fiscal stimulus ammo

January 23, 2019 - 09:00 -- Admin

By Leith van Onselen Shadow Treasurer, Chris Bowen, has admitted that Australia’s high level of household debt and low wages growth are key economic risks. He adds that Labor’s proposed $200 billion package of tax increases is vital to provide the nation with a “fiscal buffer” in the event of a global economic downturn. From The AFR:

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Macro Morning

January 23, 2019 - 09:00 -- Admin

By Chris Becker  A slew of concerns wracked overnight markets with the return of US traders not helping, the downgraded IMF forecasts plus mixed news and reports about the US/Chinese trade delegation leading to selloffs as overbought stocks pulled back. Poor sentiment on the closely watched German ZEW survey plus a slump in existing home

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Daily iron ore price update (restocking slowly)

January 23, 2019 - 07:30 -- Admin

by Chris Becker Spot iron ore prices were all over the place yesterday with lower grade fines lifting while higher quality dropped and the Tianjin spot price was broadly steady. Steel prices are going nowhere despite restocking efforts ahead of the Chinese NY holiday. Meanwhile, BHP signalled yesterday that it needed a “perfect second half”

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“Feeding frenzy of negativity” engulfs apartment market

January 23, 2019 - 07:22 -- Admin

By Leith van Onselen Growing concerns around the poor build quality of Australia’s high-rise apartments risks poisoning the entire off-the-plan industry, according to several industry commentators. These concerns have escalated in the wake of the huge cracks discovered at Sydney’s 34-storey Opal Tower, along with widespread flammable cladding reportedly used across Australia’s high-rise. One property analyst

Aussie Housing bust to stall jobs market

January 23, 2019 - 00:20 -- Admin

By Leith van Onselen As the Australian economy ended 2018, it became clear that the Aussie jobs market has begun to lose momentum. This is perhaps best illustrated by the ANZ job ads series, which has clearly begun to rollover: Now economists are predicting that Australia’s falling housing market and the banking royal commission could

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REIWA calls another bottom for Perth property

January 23, 2019 - 00:15 -- Admin

By Leith van Onselen You’ve gotta love the Real Estate Institute of Western Australia (REIWA). No matter what the data is showing, they are always quick to call an imminent housing rebound. A classic example of this spruiking was given in June 2015 when REIWA chief, David Airey, explained why Perth’s housing market was set

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