In July, a record $8.6 billion in refunds was returned to taxpayers. It was a $2.2 billion or 34 per cent lift on refunds paid in July last year.
While overall revenue is down, total expenses are running $150 million higher than forecast. Expenditures, however, can move around month-to-month due to the nature of payments.Combined, the budget is running $664 million behind what had been expected through July and August. But ANZ's head of Australian economics, David Plank, said the only sector of the economy showing a positive impact from the tax cuts and the Reserve Bank's reduction in official interest rates is in the housing market.
swrighteconomy Ahh, the legendary Liberal economic management at work again
swrighteconomy And time our PM showed a bit of restraint with his junkets around the globe.
swrighteconomy Time to unleash robodebt on deadbeat company tax avoiders.
swrighteconomy The great economists we were led to believe!
Politics_SMHAGE swrighteconomy Who would have thought deliberate policies to keep wages low, reduce welfare, reduced tax, and a failure to address energy or climate policy would actually result in low economic activity? Amazing
swrighteconomy Awww ☹☹☹😉😁
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Trump and China have a 'deal', but the world economy is still at riskMarkets are exuberant about the arrival of some trade peace, yet anybody who has followed the ups and downs of recent trade policy won't be nearly as optimistic. The entire world is still at risk as long as that orange idiot is in office There is an agricultural deal that serves the domestic interests of the both parties. A real deal is long way off, of possible. Meanwhile, decoupling should begin in earnest as China can’t be trusted to shepherd the world. Freedom and Democracy is under attack by CCP.
Source: smh - 🏆 6. / 80 Read more »
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Source: SkyNewsAust - 🏆 7. / 78 Read more »
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Source: SkyNewsAust - 🏆 7. / 78 Read more »