Money

Hike GST, reduce income tax to boost productivity

AMP’s Shane Oliver urges GST hike, income tax cuts to enhance productivity, following Jim Chalmers’ economic reform address.

Published

7 months ago

June 19, 2025

Ahron Young

AMP’s Shane Oliver urges GST hike, income tax cuts to enhance productivity, following Jim Chalmers’ economic reform address.

In Short:
Treasurer Jim Chalmers is advised to raise the GST to 20% and lower income tax to boost Australia’s economy as Labour focuses on tax reform. Concerns remain among business leaders that proposed tax changes could hinder productivity and investment, particularly for younger Australians.

Treasurer Jim Chalmers has been advised to increase the Goods and Services Tax (GST) and reduce income tax to enhance productivity in Australia’s economy, as Labor prepares for a second term.

During his address at the National Press Club, Chalmers reiterated the government’s commitment to productivity improvements and meaningful tax reform. Although he did not discuss GST in-depth, he acknowledged the relevance of the topic ahead of the upcoming productivity roundtable.

AMP’s chief economist Shane Oliver suggested that a higher GST, applied uniformly, could reduce income tax rates. He argued for a potential increase of the GST to 20% to fund lower income tax thresholds and rates.

Tax reform

Chris Freeland from CPA Australia supported tax reform, stressing that the current system relies too heavily on personal and corporate income taxes and called for a transparent discussion on necessary reforms.

Chalmers also addressed Labor’s proposed superannuation tax increase and the taxation of unrealised gains, which have drawn criticism from various business leaders. They claim that such measures could discourage productivity and investment, especially among younger Australians.

Tax reform is considered essential to improve Australia’s economic competitiveness and mitigate the reliance on income-based taxes.

Money

U.S. and China approve TikTok sale to American investors

US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.

Published

2 days ago

January 23, 2026

Harvey Vargas

US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.

The United States and China have officially approved a deal for TikTok’s US operations to be sold to American investors, led by Oracle and Silver Lake.

This marks a major shift in the social media landscape as the platform navigates increasing regulatory scrutiny.

Under the new agreement, ByteDance will retain just under 20% of TikTok US, while Oracle and Silver Lake will each take 15% stakes. Other investors will also participate, forming a structure designed to satisfy both commercial and regulatory demands.

The new US-based entity will have a majority American board tasked with overseeing data protection and content moderation. Despite these safeguards, concerns remain about ByteDance’s influence and whether the deal fully complies with recent legislation.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#TikTokSale #USChinaDeal #Oracle #SilverLake #ByteDance #TechNews #SocialMedia #DataProtection

Money

Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide

U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.

Published

4 days ago

January 21, 2026

Harvey Vargas

U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.

U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.

The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#USMarkets #WallStreet #TrumpTariffs #GlobalMarkets #USDebt #Europe #Davos #Ticker

Money

Gold hits record highs as investors flee risk

Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.

Published

5 days ago

January 20, 2026

Harvey Vargas

Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.

Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.

The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.

Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#GoldRally #SafeHaven #InvestingTips #FinancialMarkets #GoldPrices #GlobalEconomy #MarketUpdate #TickerNews