Key Highlights:
- Grains & Oilseeds - El Nino threat continues to support local Australian grain prices despite exports being globally uncompetitive. Relative to global prices, domestic grains markets are expected to stay well supported throughout 2015.
- Beef – Prices have lifted further, even though slaughter and production numbers continuing at record levels.
- Dairy – The mechanics for a global market rebound are building; but are not likely until early 2016.
- Sheepmeat - Strong demand for Australian lamb in the US and Middle East is compensating for a drop in Chinese demand, helping to stabilise prices.
- Wool - The Eastern Market Indicator (EMI) pushed to a four year high, gaining 11% through the month. While prices eased in mid June, prices remain 300c higher than at the beginning of the season (July 2014).
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Almost every day we read reports of concerns about the property bubbles in Sydney and Melbourne and of government investigations into breaches of the Foreign Investment Review Board investment rules. Click Here for report by ABC. It would seem that Australia is not the only country to be concerned about escalating residential property prices and the need to consider counter measures.
It has been reported that last Friday, 6 June 2015, the Taiwanese Legislative Yuan [parliament] passed a tax reform bill that will impose a capital gains tax [CGT] of up to 45 percent on profits made on the sale of property. The new tax plan, which is scheduled to take effect on Jan. 1, 2016, was expressed to form part of the government's efforts to rein in high residential housing prices and represents a major change from current practices. Click here for report by Central News Agency.
It will be interesting to see if the Australian government considers this CGT lead, whether in whole or in part, as a suitable counter measure to the escalating property prices around Australia.
