Good morning,
Australia’s richest person, Gina Rinehart, has fired a warning shot at Labor’s tax changes, saying the policy will backfire by pushing business investment to competing overseas jurisdictions.
Meanwhile, Tabcorp chief Gillon McLachlan’s retail betting strategy has backfired as Austrac targets it over suspected money laundering. And that’s far from the only problem.
And mortgage stress has invaded more affluent suburbs for the first time as federal budget changes to property taxes threaten to trigger Australia’s biggest house price crash in 40 years.
