Australian Treasurers Jim Chalmers has refuted the idea that the newly announced $14.6 billion (US$9.88 billion) living cost relief will worsen inflation. In an interview with ABC Radio, the treasurer said the relief package included “responsible spending” and would not add pressure to inflation. Among the cost of living supports to be featured in the…

Australian Treasurer Jim Chalmers has admitted that he should have promised Australians that Labor had no plans to change or touch the Capital Gains Tax (CGT) exemption on the family home.  The CGT is the tax paid when Australians sell their investments, such as stocks, bonds, or real estate. Homeowners in Australia, however, are exempted…

The federal opposition in Australia has offered in-principle support for a federal independent anti-corruption commission (ICAC) but warned of “dire consequences” for not getting the legislation right. Opposition finance spokeswoman Senator Jane Hume says the coalition will support measures to stamp out corruption. “[But] if you get it wrong, it has dire consequences,” she told the ABC’s…

The Minister for the Digital Economy, Jane Hume, has said that cryptocurrencies are “not a fad.” In a speech on Monday at the AFR Super and Wealth Summit, Hume stated that with 17 percent of Australians investing in cryptocurrency, it is “an asset class that has captured hearts and minds” of Australians. “Whatever you might…

Superannuation funds will be “stapled” to Australian workers, following them when they switch jobs and minimising multiple unintended accounts. As part of the federal government’s Your Future, Your Super reform package, workers will have a single super account automatically following them between jobs until they choose to switch funds from Nov. 1. Superannuation Minister Jane…