The reaction to big tax changes
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.
Dwelling approvals have fallen a further 3.4 per cent, as the treasurer tries to downplay the impact of tax changes on property prices.
Rising interest rates, poor affordability, budget tax changes and a political shift towards lower migration could spell the end of a 30-year housing upswing.
Future generations will be left with a "multibillion-dollar debt bomb" if the coalition repeals proposed tax changes, the treasurer warns.
The industrial umpire will likely hand minimum and award workers a wage rise that sits between employer recommendations and more ambitious union calls.
The property industry is challenging the government's modelling on the impact the federal budget will have on renters and housing supply.
Controversial budget changes would have cut the lifetime tax benefits for the top one per cent of earners by $400,000 if implemented in 2000, Treasury says.
The share of property investors older than 60 has more than doubled since the capital gains discount was introduced, Reserve Bank of Australia research shows.
Government hopes legislation will pass quickly as it attempts to lay down "overarching framework".
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