Federal Government in childcare crackdown as popular after-school care provider hit with $220k in fines
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Federal Government in childcare crackdown as popular after-school care provider hit with $220k in fines
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West Australian
12 hours ago
- West Australian
Federal Government in childcare crackdown as popular after-school care provider hit with $220k in fines
The West Australian exclusive Federal Government in childcare crackdown as popular after-school care provider hit with $220k in fines
News.com.au
15 hours ago
- News.com.au
Subaru boss backs emissions but won't say if price will rise
Subaru has not ruled out price increases under the Federal Government's New Vehicle Efficiency Standard (NVES), but the company's local boss says it will avoid them for now. While rival brands such as Ford have cited NVES as the reason for the recent price hikes including a $5,000 jump for the Mustang, Subaru has held firm. Subaru managing director Scott Lawrence said the automaker supports the Federal Government's NVES but declined to predict how the regulation might affect the wider market in years to come. 'I won't comment on the market outlook,' he said. 'Look, we've not lifted prices. I can't really speak to the future of price moves. 'Certainly, our intent is to have a product-first strategy, to make sure the product is right for consumers. Ultimately though, consumers will decide.' Price hikes have become a major talking point across the industry as the NVES framework penalises high-emitting vehicles and incentives brands who offer low-emitting vehicles. Hence why several brands have adjusted pricing, with the rising costs often passed on to consumers. Lawrence explained that Subaru's plan to NVES is to provide more powertrain variety, with hybrid, electric and internal combustion models all available in its Australian line-up. 'Overwhelmingly, we support any initiative to reduce emissions,' he said. 'Our response is to keep working with Subaru Corporation to bring in the right products for Australian consumers.' The brand's new 'strong hybrid' Forester joins the fully electric Solterra and other hybrid and petrol models. Lawrence said hybrid tech is becoming the natural next step for traditional buyers as they offer 'more range and confidence', especially in regional Australia where EV infrastructure is limited. However he did say 'EVs will grow'. 'That's why we've committed to providing a full spectrum of choice – from petrol to hybrid to electric,' he said. Subaru has committed to launch eight EVs globally by 2028, though not all will reach Australia. 'EVs will form a bigger and bigger part of the future, but not the sole part,' he said.
News.com.au
17 hours ago
- News.com.au
‘Too long': Call to flip major tax breaks for property owners
Thousands of new houses could be built in the next five years with tweaks to tax rules that Labor has resisted 'for too long', experts say. Increasing tax breaks for investors in new properties is needed for Australia to meet its 'ambitious' 1.2 million home target by 2030 according to a new research paper by The McKell Institute. Four tweaks to capital gains tax – including an increase to the 50 per cent discount for new units but a reduction on discounts for detached dwellings – are being put forward as a 'circuit breaker'. The paper will be submitted to the federal productivity roundtable forum, which Treasurer Jim Chalmers is promoting as a way to build consensus on long-term economic reform. 'Labor has resisted change to the CGT discount for too long,' McKell chief executive Edward Cavanough said. 'The CGT tax discount is neither good nor evil, but it should be better calibrated to actually achieve our social aims.' 'Instead of encouraging property investors to bid up the price of existing housing stock we should be encouraging them to contribute to the construction of new dwellings.' Capital gains tax is paid when you buy an asset and then later sell it for a profit; the profit you make is taxed as income. The capital gains tax discount kicks in when, if you own an investment property for 12 months and then sell it, you only pay tax on half the profit you made. The richest 10 per cent of Australians reap the benefits of more than half the capital gains tax discounts, government data shows. Sale of the home you own and live in is exempt from capital gains tax. The plan projects up to 130,000 extra new homes could be built by 2030. 'A key problem with our existing tax settings on property is they orient too much investment toward established dwellings at the cost of new supply,' Professor Holden said. 'There is nothing wrong with the commonly held desire of everyday investors to secure their future by investing in the housing market. 'But this desire should be harnessed to achieve our national objectives on housing supply.' The federal government has set a lofty goal of 1.2 million new houses being built by 2030 that would require 220,000 new dwellings per year. About 160,000 new homes are built each year. The monthly new home target has been met just once since the target was set in early 2023, and even the federal Treasury has suggested the target will not be hit under the current policy settings. In tune with the McKell research, a group of rank-and-file Labor members has also thrown their voice behind a proposal to curb the tax discounts, with Labor for Housing saying a reduction in the discounts would help build more houses. Mr Chalmers has billed the roundtable meetings as a chance to set in motion aspirational reform. In June, Mr Chalmers said changes to capital gains tax was not something the government was 'looking at right now' but acknowledged there was appetite. 'I think it is really important we don't narrow that, limit that, those ideas people put forward. We've had a view about that in the past. I do suspect people will raise it, and we'll listen respectfully when they do,' he said.
