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Latest news: Productivity

Canberra embraces AI data crunch for medicines to tax

Canberra embraces AI data crunch for medicines to tax

Artificial intelligence tools will be used in unexpected ways by the government, from finding tax-return mistakes to assessing environmental projects.

Worse to come as oil crisis adds fuel to rate-pain fire

Worse to come as oil crisis adds fuel to rate-pain fire

Worse to come as oil crisis adds fuel to rate-pain fire

Worse to come as oil crisis adds fuel to rate-pain fire

A rate hike in May is forecast by analysts after the Iran oil shock pushed the annual headline inflation level to the highest point in almost three years.

Extra diesel shipments prioritised for regional areas

Extra diesel shipments prioritised for regional areas

Extra diesel shipments prioritised for regional areas

Extra diesel shipments prioritised for regional areas

Two additional cargo ships of diesel will come into Australia, bringing in 100 million litres of supply after deals struck with two major fuel companies.

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'Gold-plated' building code worsening housing crisis

'Gold-plated' building code worsening housing crisis

It takes a year longer to build an apartment compared to a decade ago as a result of onerous red tape, the housing industry says.

Stagflation risk: Chalmers heeds budget warning

Stagflation risk: Chalmers heeds budget warning

Treasurer Jim Chalmers is being urged to reform the tax and migration settings in the upcoming budget as the oil shock worsens Australia's productivity funk.

Aussies could miss big payday due to basic AI skills

Aussies could miss big payday due to basic AI skills

Millions of Australian workers are using artificial intelligence tools with only a basic understanding, and could boost their salaries with more training.

Treasurer softens up voters for 'hard decisions' on tax

Treasurer softens up voters for 'hard decisions' on tax

The government will warn of a hit to economic growth and Australia's productivity performance in the upcoming budget, raising the stakes for ambitious reform.

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Tax discount 'skewing' property market to investors

Tax discount 'skewing' property market to investors

Tax discount 'skewing' property market to investors

Tax discount 'skewing' property market to investors

A parliamentary report has found significant tax discounts on capital gains have tipped the scales in favour of investors compared to owner-occupiers

Data centre boom shakes up infrastructure priorities

Data centre boom shakes up infrastructure priorities

Data centre boom shakes up infrastructure priorities

Data centre boom shakes up infrastructure priorities

The government's independent infrastructure adviser has released a new list of priority projects Australia needs to cater for a growing population.

'Dumbest option': top economist slams housing tax break

'Dumbest option': top economist slams housing tax break

'Dumbest option': top economist slams housing tax break

'Dumbest option': top economist slams housing tax break

The government has been urged to draw a clean break on any changes to taxes on investment properties as it considers major reforms in the federal budget.

Vested interest 'cartel' killing Aussie housing dream

Vested interest 'cartel' killing Aussie housing dream

Vested interest 'cartel' killing Aussie housing dream

Vested interest 'cartel' killing Aussie housing dream

Treasury officials appear to be at odds with a former head of their department over contentious tax breaks for property investors.

Labor luminary takes aim at housing tax breaks

Labor luminary takes aim at housing tax breaks

Labor luminary takes aim at housing tax breaks

Labor luminary takes aim at housing tax breaks

Tax concessions for property investors are driving inequality and should be wound back, one of the key architects of the Hawke-Keating reforms says.

Bold company tax proposal still friendless after revamp

Bold company tax proposal still friendless after revamp

Bold company tax proposal still friendless after revamp

Bold company tax proposal still friendless after revamp

An alternative corporate tax proposal could have greater economic benefits if a requirement to be budget-neutral was removed, the Productivity Commission says.

Belt tightening in order as federal payments balloon

Belt tightening in order as federal payments balloon

Belt tightening in order as federal payments balloon

Belt tightening in order as federal payments balloon

More than $12 billion in program cost blowouts demand tighter spending in other parts of the federal budget, the treasurer is warning Australians.

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Green shoots for renters in social housing resurgence

Boosting social housing could help solve Australia's productivity problems by making it easier for employers to find essential staff, a report has found.

Global expat tells Australia to lift its economic game

Regulation must be slashed and company tax rates lowered for the nation to boost low productivity growth, the Australian head of a global economic body warns.

AI guidance refresh as industry awaits national plan

Industry figures welcome news a national AI plan will be released before the end of the year, saying uncertainty on regulation spooks potential investors.

From gigabits to terabits: fibre to fire up downloads

A fibre optic internet backbone will deliver internet speeds up to six times faster as well as a multi-billion-dollar boost to Australia's economy by 2040.

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National economy still stuck in 'productivity malaise'

Despite a modest pick-up in productivity growth and signs private sector employment is recovering, Australia's slump in productivity is far from over.

Fax machine to AI: urgent call to modernise health care

Health and aged care spending is projected to exceed 10 per cent of Australia's GDP by 2062, risking poorer service quality and burdening young workers.

One in five young jobseekers are fudging AI skills

The pressure to understand and use artificial intelligence tools is getting to gen Z and millennial workers, with many admitting to exaggerating their talents.

Inflation update to shape further rate cut expectations

A particularly weak inflation print on Wednesday could raise hopes for a back-to-back Reserve Bank interest rate cut next month.

Pause on new regulations to fast track building homes

A pause in new regulations on construction standards will aim to have homes built faster under changes stemming from the productivity roundtable.

Why Australian AI regulation could be a legal patchwork

Artificial intelligence may not be governed by a single, dedicated law in Australia but experts say changes to several existing laws could offer protection.

Treasurer mulls making tax fairer for young Australians

Australia's "unfair" tax system has created a situation where retirees can earn the same income as working households, but pay less than half the tax.

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