Independent senator David Pocock used a February Senate estimates hearing to highlight how lightly Australia taxes offshore gas, pointing out that beer excise now raises more revenue than the Petroleum Resource Rent Tax (PRRT). Pocock asked Treasury officials whether it was “accurate to say that the tax on offshore gas exports — PRRT — is
The ferrous complex continues to trade far above fundamentals amid oil disruptions. Chinese trade was out and sent a clarion signal that there is trouble ahead. Iron ore imports front-ran the year at a record 120mt in January, then cratered in February to 95mt. The two months combined were up 8%, but this looks more
According to BCA Research, the United States’ main goal in Iran is more constrained than that of Israel: reducing Iran’s capacity to pose a threat to the area, rather than overthrowing the Iranian government. The US specifically wants to undermine Iran’s navy, dismantle its nuclear and ballistic missile program, and stop supporting regional extremist organisations.
Recently on social media platform X (formerly known as Twitter) there was a table detailing population growth for various developed economies since 2000, based on the numbers from the OECD database. Of the nations assessed, Canada had the strongest relative population growth between 2000 and 2024, expanding by 34.6%. This got me thinking: where would
Australia’s rental crisis continues to worsen as population growth driven by immigration exceeds supply. According to Cotality, nationally advertised rents have soared by 47% since the end of 2019, adding nearly $11,500 to the annual cost of renting for the median tenant: Rental affordability in Australia is now tracking at an all-time low, with the
The Australian Greens have promised to waive through various tax reforms impacting superannuation and property investment, in a bid to boost budget revenue and improve equity. After months of pushing for amendments, the Greens have agreed to pass the extra 15% tax on earnings from super balances above $3 million without changes (i.e., Division 296).
Victoria’s 2025‑26 Mid‑Year Financial Report was released on Friday and showed that the state’s net debt has increased by $10 billion in six months, reaching $160.9 billion: Net debt as a share of the state economy has risen from 23.7% to 24.2% in six months. Interest costs are also escalating. $3.8 billion was spent on interest
Charts from TME. Stocks printed a large hammer reversal as the G7 and Trump TACO rescued the day. God bless it. VIX is mean-reverting, so if we see an incremental shift towards the TACO from here, then stocks will automatically rise. Oil-printed a huge shooting star. This looks overdone to me. But it is a
Justin Fabo from Antipodean Macro produced the following chart, showing how Australia’s labour productivity growth (i.e., GDP per hour worked) has ranked among the poorest in the advanced world over the past decade. One of the longer-term factors behind Australia’s poor productivity growth is “capital shallowing”. I.e., the population, via immigration, has grown faster than
DXY flamed out last night on the G7 unpledge to release petroleum reserves. AUD reversed all of the losses. Oil tanked. North Asia is still struggling. The AI metal swoon reversed. As did the mining crash. Plus EM. Junk is still nervy. US yields reflected the jobs, not the oil shocker. Stocks bid WIII hard.