Kevin Michael Rudd is an Australian diplomat and former politician who served as the 26th prime minister of Australia from 2007 to 2010 and June to September 2013. He held office as the leader of the Labor Party (ALP) and was the member of parliament (MP) for the Queensland division of Griffith from 1998 to 2013. Since 2023, Rudd has been the 23rd ambassador of Australia to the United States.
Julia Eileen Gillard is an Australian former politician who served as the 27th prime minister of Australia and the leader of the Labor Party (ALP) from 2010 to 2013. Born in Barry, Wales and raised in Adelaide, she served as the member of parliament (MP) for the Victorian division of Lalor from 1998 to 2013. She previously served as the 13th deputy prime minister of Australia from 2007 to 2010, under Kevin Rudd. She is the first and only woman to hold either office in Australian history.
Jennifer Louise Macklin is an Australian former politician. She was elected to federal parliament at the 1996 federal election and served as the deputy leader of the Australian Labor Party (ALP) from 2001 to 2006, under opposition leaders Simon Crean, Mark Latham and Kim Beazley. After the ALP won government at the 2007 election, she held ministerial office under Kevin Rudd and Julia Gillard, serving as Minister for Families, Community Services and Indigenous Affairs (2007–2013) and Minister for Disability Reform (2011–2013). She retired from parliament at the 2019 election.
The Treasurerof Australia, also known as the FederalTreasurer or more simply the Treasurer, is the minister of state of the Commonwealth of Australia charged with overseeing government revenue collection, federal expenditure and economic policy as the head of the Department of the Treasury. The current treasurer is Jim Chalmers, who was selected by Prime Minister Anthony Albanese in May 2022 following the 2022 Australian federal election.
Robert Bruce McClelland is an Australian judge and former politician who has served on the Federal Circuit and Family Court of Australia since 2015, including as Deputy Chief Justice of that court since 2018. He was previously Attorney-General of Australia from 2007 to 2011, and a member of the House of Representatives from 1996 to 2013, representing the Labor Party.
Wayne Maxwell Swan is an Australian politician serving as the 25th and current National President of the Labor Party since 2018, previously serving as the 14th deputy prime minister of Australia and the deputy leader of the Labor Party from 2010 to 2013, and the treasurer of Australia from 2007 to 2013.
A single tax is a system of taxation based mainly or exclusively on one tax, typically chosen for its special properties, often being a tax on land value.
Nicholas John Sherry is a former Australian politician who served as a member of the Australian Senate for the state of Tasmania from July 1990 until June 2012, representing the Australian Labor Party. Sherry was sworn in as the Assistant Treasurer on 9 June 2009, after serving as the first Australian Minister for Superannuation and Corporate Law. Sherry was the first Assistant Treasurer from Tasmania.
Superannuation in Australia, or "super", is a savings system for workplace pensions in retirement. It involves money earned by an employee being placed into an investment fund to be made legally available to members upon retirement. Employers make compulsory payments to these funds at a proportion of their employee's wages. From July 2024, the mandatory minimum "guarantee" contribution is 11.5%, rising to 12% from 2025. The superannuation guarantee was introduced by the Hawke government to promote self-funded retirement savings, reducing reliance on a publicly funded pension system. Legislation to support the introduction of the superannuation guarantee was passed by the Keating Government in 1992.
Income taxes are the most significant form of taxation in Australia, and collected by the federal government through the Australian Taxation Office (ATO). Australian GST revenue is collected by the Federal government, and then paid to the states under a distribution formula determined by the Commonwealth Grants Commission.
Kenneth Ross Henry is an Australian economist and public servant who served as the Secretary of the Department of the Treasury from 2001 to 2011.
David John Bradbury is an Australian former politician. He was a Labor member of the Australian House of Representatives, representing the Division of Lindsay, in New South Wales, from 2007 until 2013. Bradbury was the Minister for Competition Policy and Consumer Affairs, Assistant Treasurer, Minister Assisting for Financial Services and Superannuation, and Minister Assisting for Deregulation. He is currently the Head of Tax Policy and Statistics at the Organisation for Economic Co-operation and Development's Centre For Tax Policy and Administration.
The first Rudd government was the executive Government of Australia formed by the Australian Labor Party (ALP) and led by Prime Minister Kevin Rudd. The Rudd government commenced on 3 December 2007, when Rudd was sworn in along with his ministry. This took place just nine days after the defeat of the Howard government, which was a Coalition of members of the Liberal and National parties, at the 2007 federal election. The Rudd government concluded on 24 June 2010 when Rudd, under pressure from an impending leadership caucus ballot, stepped down from the leadership of the ALP and was succeeded by his deputy, Julia Gillard. Rudd was re-elected leader of the Labor Party in 2013 and served a second term as prime minister.
The Australian property bubble is the economic theory that the Australian property market has become or is becoming significantly overpriced and due for a significant downturn. Since the early 2010s, various commentators, including one Treasury official, have claimed the Australian property market is in a significant bubble.
Daryl Albert Dixon is an Australian economic and investment writer and consultant. Presently the Executive Chairman of Dixon Advisory and Superannuation Services, he writes regular columns on personal investing, economic commentary and self managed superannuation in The Canberra Times, Australian Financial Review, The Australian and the former Smart Investor magazine.
The Minerals Resource Rent Tax (MRRT) was a resource rent tax formerly imposed by the government of Australia on profits generated from the mining of non-renewable resources in Australia. It was a replacement for the proposed Resource Super Profit Tax (RSPT).
The Gillard government was the Government of Australia led by the 27th prime minister of Australia, Julia Gillard, of the Australian Labor Party. The Gillard government succeeded the first Rudd government by way of the Labor Party leadership spill, and began on 24 June 2010, with Gillard sworn in as prime minister by the governor-general of Australia, Quentin Bryce. The Gillard government ended when Kevin Rudd won back the leadership of the Australian Labor Party on 26 June 2013 and commenced the second Rudd government.
The Clean Energy Act 2011 was an Act of the Australian Parliament, the main Act in a package of legislation that established an Australian emissions trading scheme (ETS), to be preceded by a three-year period of fixed carbon pricing in Australia designed to reduce carbon dioxide emissions as part of efforts to combat global warming.
The 2010 Australian federal budget for the Australian financial year ended 30 June 2011 was presented on 11 May 2010 by the Treasurer of Australia, Wayne Swan, the third federal budget presented by Swan, and the third and final budget of the first Rudd government.
A carbon pricing scheme in Australia was introduced by the Gillard Labor minority government in 2011 as the Clean Energy Act 2011 which came into effect on 1 July 2012. Emissions from companies subject to the scheme dropped 7% upon its introduction. As a result of being in place for such a short time, and because the then Opposition leader Tony Abbott indicated he intended to repeal "the carbon tax", regulated organizations responded rather weakly, with very few investments in emissions reductions being made. The scheme was repealed on 17 July 2014, backdated to 1 July 2014. In its place the Abbott government set up the Emission Reduction Fund in December 2014. Emissions thereafter resumed their growth evident before the tax.
