Higher interest rates smashed landlord profits, but negative gearing means few sold up

Despite a surge in interest rates and a jump in loss-making rentals, few landlords are selling up. Experts say it's because negative gearing and the capital gains tax discount protect their investments.

ABC News
Millionaires who pay no tax and richest and poorest postcodes revealed in ATO tax stats

There were 91 Australians who earned more than $1 million in total income yet paid no tax in 2022-23, while Australia's highest earners live in Sydney's eastern suburbs, taking in Darling Point, Edgecliff, Rushcutters and Point Piper, according to newly released data from the Australian Taxation Office (ATO).

ABC News
Sanjeev Gupta gets renovation approval on Sydney mansion while businesses in Tahmoor and Whyalla face uncertain futures

Coal miners are on paid leave at his mine in NSW and workers at his South Australian steelworks are facing an uncertain future, yet steel baron Sanjeev Gupta is about to renovate his $34 million Sydney home.

ABC News
Why does anyone expect the Democrats to be left wing. Realpolitik says when your opponent in a two party sysrtem aligns themselves with the far right you align yourself with the centre right to get those votes since the left has no other practical choice. #ItsTheSystem

#ItsTheSystem #ChangeTheSystem

www.sbs.com.au/news/article/these-perks-are-among-the-reasons-why-the-rich-are-getting-richer-in-australia/mnmbsbj35?cid=newsapp:socialshare:other

Still doing employee performance reviews? You might like to go read Deming. #RedBeads #ItsTheSystem
Still doing employee performance reviews? You might like to go read Deming. #RedBeads #ItsTheSystem

So the people in power (pun intended) have moved through all stages of climate change grief: denial, anger, bargaining, depression and acceptance. At every stage they propose a solution that preserves their power and profit. This is the latest #ItsTheSystem #ChangeTheSystem

https://www.abc.net.au/news/2024-06-15/power-tariffs-are-changing-radically-but-no-one-is-telling-you/103944598?utm_source=abc_news_app&utm_medium=content_shared&utm_campaign=abc_news_app&utm_content=other

Power price structures have radically changed, but nobody thought to tell consumers about it

Across Australia, a huge, forced migration is underway as consumers are shunted on to complex power prices. Just don't expect anyone to tell you about it.

ABC News
Rising rent? Mega mortgage? Cozzielivs? 'Hardship' help hard to get, as banks fail to help those who need it

A new ASIC report says banks aren't doing what the law says they must do to help customers in trouble, as the proportion of borrowers in strife rises due to high interest rates, rocketing rents and increases in the cost of living. 

ABC News
Australia's tax system is worse than it was 15 years ago, and young people are paying the price, Ken Henry says

Australia's tax system is stacked so heavily against younger people that it's threatening the social compact, former Treasury secretary Ken Henry has warned.

ABC News