The reaction to big tax changes
Stagnant productivity means households face higher inflation and lower living standards, but the treasurer hopes cheaper housing will ward off voter discontent.
After three straight interest rate hikes, the Reserve Bank has opted to leave the official cash rate steady at 4.35 per cent, as predicted by economists.
Accountants are warning Labor's controversial tax reform will lead to "substantial compliance costs" on taxpayers, calling for legislative changes.
The treasurer has warned leaving a 50 per cent capital gains tax discount for shares could perversely funnel more investor money into existing housing.
Anthony Albanese has not revealed whether carve outs for businesses are on the table for controversial tax changes from the federal budget.
Changes pass though the lower house in just two days but now the Senate will debate them this month.
Changes to negative gearing, capital gains tax and trusts have not raised Treasury's assumption that productivity will grow at 1.2 per cent in the medium term.
Business owners are still yet to find out what exemptions could apply to them in changes to capital gains tax.
Conveyancers continue to grapple with the fallout of the federal budget as its proposed tax changes prompt banks to reassess investor loans.
Millions of workers on industry awards will get a 4.75 per cent annual pay rise, but minimum wage earners will receive a larger boost of six per cent.
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