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The federal budget next month is shaping up as a tug of war between the immediate demands of shoring up the economy amid the fuel crisis, and the longer-term ambitions of meaningful reform.
Treasurer Jim Chalmers says he wants to use the budget to address "intergenerational unfairness", especially in housing. On that front, one of the biggest giveaways in the budget is the discount on capital gains tax, currently 50% and costing up to $23 billion a year.
As Emeritus Professor Chris Evans writes, the CGT discount is “unfair, inefficient and too costly”. Evans, who literally wrote the book on this tax, suggests some alternatives to the tax break, and ways to phase it out without causing unintended consequences.
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Victoria Thieberger
Business and Economics Editor
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Chris Evans, UNSW Sydney
We don’t inflation-proof any other parts of the tax system, so why should we give special treatment to capital gains?
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Jessica Genauer, UNSW Sydney; Benedict Moleta, Australian National University
Much like the frozen conflicts between India and Pakistan or North and South Korea, this will keep the entire world on edge.
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Michelle Grattan, University of Canberra
The former cabinet minister said Australians have been ‘sold short’ by not taxing gas exports enough.
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Wesley Morgan, UNSW Sydney; Ben Newell, UNSW Sydney
Frustrations at slow global climate talks has led more than 50 nations to begin plans to phase out fossil fuels – even as oil shocks raise the stakes.
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Michelle Grattan, University of Canberra
From October people will no longer have to pay to receive help with showering, dressing and support in managing continence.
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Rajat Roy, Bond University
John Ternus will become only the third chief executive in Apple’s history. Here’s what we may expect from the long-term hardware engineer.
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Michelle Grattan, University of Canberra
The byelection in the federal seat of Farrer on May 9 is shaping up to be a contest of the right.
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Thomas Pace, University of the Sunshine Coast; Roger Koenig-Robert, University of Technology Sydney; UNSW Sydney
There’s a lot going on in your brain all the time. To power your imagination, the neurons need some silence.
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Fotini Vasilopoulos, University of Sydney
For children, rocks can be spaceships. Pens can be fairies. And this kind of play can help protect mental health in childhood, according to new research.
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Politics + Society
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Andrew Podger, Australian National University
Many department heads earn more than the prime minister or treasurer. It’s a situation that’s now under review.
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Gwenda Tavan, La Trobe University
Malcolm Fraser was one of the country’s longest-serving prime ministers. His support of multicultural policy forever changed Australia’s social fabric.
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Frank Bongiorno, University of Canberra
Under Australia’s longest-serving prime minister, home ownership expanded from about half of all homes to more than seven in ten. The consequences reverberate today.
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Suze Wilson, Te Kunenga ki Pūrehuroa – Massey University
Research shows the most effective leaders are good listeners and aware of their own biases. Above all, people must believe they are ‘one of us’.
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Stephen Townsend, The University of Queensland; Alan Pearce, Swinburne University of Technology
The NRL must be lauded for its move but its decision not to publicly announce the seemingly laudable changes is intriguing.
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Health + Medicine
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Laura Davy, Australian National University
Computers promise to replace fallible human judgement with something more consistent, efficient and fair. But this isn’t always the case.
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Kelly Sansom, Murdoch University; Peter Eastwood, Murdoch University
If the slightest sound wakes you, you might wish you slept more deeply. But several factors shape how much shut-eye you get.
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Business + Economy
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John Hawkins, University of Canberra
Around half of Australians still use cash in a typical week, and we keep about $65 in our wallets.
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Environment + Energy
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Chris Taylor, Australian National University; David Lindenmayer, Australian National University; Maldwyn John Evans, Australian National University
In the past 11 years, we’ve lost roughly 300 million hectares of forest. Three ecologists explain why our current conservation strategies aren’t working.
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Science + Technology
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Marcus Michelangeli, Griffith University; Jack Brand, Swedish University of Agricultural Sciences
Drugs and their byproducts can end up in wild fish – and strange behaviour results.
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Elena Ivanova, RMIT University
The textured acrylic plastic surface, inspired by insect wings, could help prevent the spread of major viruses.
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Arts + Culture
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Alexandra Aikhenvald, CQUniversity Australia
Lingua franca refers to any language used between people who have no other language in common.
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Alex Munt, University of Technology Sydney
The fourth wall break is a 100-year-old screen staple – and film and TV creators can’t seem to get enough.
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Books + Ideas
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Mark Beeson, University of Technology Sydney
Alexander Stubb’s book Triangle of Power is a reminder that we are a quite intelligent species, even if we continue to do unbelievably stupid things.
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Some thoughts on buffel grass…
“If buffel grass is declared a weed of national significance what would then be done about it? We know from much experience that declaring a plant a weed is useless unless governments are willing to do something about it. In this case, the widespread nature of this plant means eradication is not feasible. Maybe some local control, if done regularly, will work, but who would fund that neverending program?"
Emeritus Professor David Kemp, University of Sydney
“The opening line 'you might not have heard of buffel grass, a robust and invasive grass' takes me straight back to the early/mid-1970s when our family lived at the Arid Zone Research Institute near Alice Springs. It was the epicentre of the Dust Control Project that systematically sowed buffel grass across a declared area of about 220 square kilometres to limit soil erosion and dust. Invariably, whenever I mentioned buffel grass at school, most people had no idea what I was talking about and teachers often corrected me to mean buffalo lawn. As a keen gardener at home, I was obliged to constantly weed buffel grass from my veggie patches – and I haven't stopped weeding buffel grass ever since!”
Alex Nelson, Alice Springs
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