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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the property price movements, fintok and finfluencers, and tax time.

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Steve Waters, director of Right Property Group, chats about the resilience of the property market in Victoria, where another lockdown is currently in place, as well as Westpac’s latest surprising predictions for property price movements.

RMIT’s senior lecturer of finance, Dr Angel Zhong, reveals the rise of fintok and finfluencers and the dangers social media presents to financial markets.

And lastly, tax and super guru Timothy Munro talks about tax time. He reveals what Aussies need to be mindful of as we head towards 30 June, and why some should look at engaging a professional this tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, property and stock market." ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(71) "Invest Money - Strategies and Tools for your Investment Goals | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-06-01 07:20:48" ["slug"]=> string(117) "16857:are-property-prices-set-to-crash-should-you-jump-on-board-the-fintok-craze-and-how-to-prepare-for-this-tax-time" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(130) "/resources/podcast/are-property-prices-set-to-crash-should-you-jump-on-board-the-fintok-craze-and-how-to-prepare-for-this-tax-time" ["image"]=> string(65) "images/podcasts/230321_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg" ["image_alt"]=> string(0) "" } }

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Are property prices set to crash? Should you jump on board the fintok craze? And...

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Australia must follow US tax cutting lead: economist

By Jack Derwin

February 17 2017
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Invest

Australia must follow US tax cutting lead: economist

By Jack Derwin
February 17 2017

US President Donald Trump’s economic policies could have a significant impact on the Australian economy, especially if his much-touted corporate tax cut is implemented, according to an Australian economist.

Australia must follow US tax cutting lead: economist

By Jack Derwin

February 17 2017
Share

BetaShares chief economist David Bassanese says if the US cuts the corporate tax rate, as appears likely, Australia must follow suit.

“There’s a global competition going on with cutting corporate tax rates and the UK is promising to do the same thing. Australia can’t be left behind in that regard and that’ll add to the pressure that we follow suit,” Mr Bassanese told nestegg.com.au.

“I think it will bolster the argument of the Australian government that we need a corporate tax cut here, and I think we do.”

Mr Trump has proposed cutting the corporate tax rate from the current 35 per cent to around 15 to 20 per cent, bringing the US closer to the UK’s 20 per cent rate.

There’s little doubt that the cut will eventuate as it has bipartisan support, State Street Global Advisors (SSGA) says.

“Corporate taxes are low-hanging fruit because everyone wants it cut, even some Democrats. It’s the third-highest corporate tax rate in the world, not that corporations pay it,” SSGA chief economist Christopher Probyn said.

“When it comes to changing taxes, they don’t need 60 votes in the Senate. They can do it with a straight majority and they’ve got one,” Mr Probyn said.

“The small and medium enterprises, that can’t afford the lobbyists and the tax loopholes those corporations can, will benefit from it.”

While a rate cut in the US would make Australia’s 30 per cent corporate tax rate seem an unattractive investment option, the economic impact could be softened by a weakened Australian dollar.

“My base case is that this year the US dollar will have to strengthen because the US is going to remain the strongest economy in the developed world,” Mr Bassanese said.

“If [Mr Trump] remains a positive influence in markets, he’ll probably usher in a stronger US dollar, a weaker euro and by consequence a weaker Australian dollar.”

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