By Leith van Onselen Sydney developer, Mark Bainey, has slammed the NSW Government’s stamp duty surcharge on foreign buyers, claiming it is turning overseas buyers away: “We offered the rebate to try to encourage more overseas purchasers in our projects, but the 12 per cent total stamp duty levy they must now pay has made
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If I have to read one more these rubbish assessments of the decline of the USD I will be reaching for my revolver. Via Harry Sender at the FT: One consequence of the America First policies of US President Donald Trump will be to create a bipolar financial world, with China at one end and
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Yes, you read that right. The ABS has released September Labor Force and the news is whacko: TREND ESTIMATES (MONTHLY CHANGE) Employment increased 26,400 to 12,640,800. Unemployment decreased 10,500 to 688,500. Unemployment rate remained steady at 5.2%. Participation rate remained steady at 65.6%. Monthly hours worked in all jobs increased 2.8 million hours (0.2%) to
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This week’s webinar at 12:30 pm AEST, Thursday 18 Oct is a focus on the drivers of the recent volatility in stock markets around the world: – How to hedge against volatility – What does it mean for your portfolio – Investment opportunities Add to your Calendar. Click here to watch Join us on our live
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By Leith van Onselen After the Trans-Pacific Partnership (TPP) trade agreement passed the Senate yesterday, Prime Minister Scott Morrison was quick to spin the economic benefits: This landmark agreement is one of the most comprehensive trade deals ever concluded and strips 98 per cent of tariffs for 11 countries with a combined GDP of more than
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By Leith van Onselen CoreLogic’s Tim Lawless has soothed concerns over Sydney’s falling housing market, claiming the current correction of 6.7% is following historical cycles. From The Australian: Market watchers need not despair at the recent downturn in Sydney property prices that are just mirroring similar trends seen in the past 40 years, according to
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Via Peter Jennings at ASPI: At the beginning of October, US Vice President Mike Pence delivered arguably the most significant policy statement produced by the Trump administration. His speech to the Hudson Institute, a Washington think tank, on ‘the administration’s policy toward China’ sets out the most dramatic shift in relations with Beijing since Nixon and Kissinger’s
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Via Domainfax: Menswear chain Roger David has announced that it has been placed into voluntary administration after being unable to cope with an influx of international competitors and the “rapid evolution” of online shopping. …At present, there were 57 stores being managed by more than 300 staff across Australia, the statement said. And the consumer
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By Leith van Onselen The chair of the Migration Council of Australia (MCA) and big business lobbyist for the Australian Industry Group (AIG), Innes Willox, repeatedly claims that Australian businesses are experiencing widespread skills shortages, and uses this claim to justify current mass immigration policy settings. For example, in February Willox argued that “now is not
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By Leith van Onselen In March last year, Transparency International ranked Australia as having the weakest anti-money laundering (AML) laws in the Anglosphere, failing all 10 priority areas. This followed the Paris-based Financial Action Taskforce’s (FATF) mutual evaluation report, which found Australian homes are a haven for laundered funds, particularly from China. In June 2017,
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