"You tax like you're in Scandinavia but you're competing with your neighbour in Singapore," Calvin Cheng said.

'You tax like you're in Scandinavia'

Flight Centre co-founder Geoff Harris, Harvey Norman founder Gerry Harvey and rich lister Patrick Grove say Australia's high tax rates will lead to a flight of capital and talent.

Property market fires back up

Clearance rates surged in Sydney and Melbourne over the weekend suggesting talk of a downturn in the housing market may be premature.