Australia's Labor government will offer an extra capital gains tax discount to founders, employees, and early investors in startups. The government is also expanding the 50% active asset discount for small businesses to those with up to $10 million in annual turnover and exempting testamentary trusts from a new 30% tax.
Australia's Liberal Party, under new leadership, considers preference deals with One Nation to counter its surging support, potentially shifting further to the right.
New South Wales will introduce a legal limit for THC for medicinal cannabis patients, allowing them to drive if their saliva has fewer than 50 nanograms per millilitre. Patients will receive two warnings before facing penalties.
New South Wales is introducing a legal limit for THC in drivers with medicinal cannabis prescriptions, allowing them to drive with fewer than 50 nanograms per millilitre of THC. Patients will receive two warnings before facing penalties, but a roadside positive still results in a 24-hour ban.
South Australia's One Nation party will block all Labor government bills due to a dispute over staffing allocations. Leader Cory Bernardi claims the party was unfairly denied resources compared to the Greens, while the Attorney-General disputes this, stating One Nation received more staff.
Tony Abbott, former Australian PM, elected unopposed as Liberal Party president, pledges to help lead a 'people's revolt' against the Labor government, sparking concerns of a further rightward shift.
Tasmanian Labor proposes restructuring government businesses involved in the troubled Spirit of Tasmania vessel replacement program, aiming to end bailout cycles for TT-Line by reclassifying TasPorts and transferring assets to a new entity, while the government faces criticism over budget cuts.
Australia's Albanese government faces criticism over budget reforms, particularly capital gains tax changes. PM Anthony Albanese's communication style is questioned, while Wes Streeting and Paul Keating offer contrasting perspectives on tax and economic reform.
UK's Wes Streeting echoes Paul Keating's tax reform arguments, criticizing capital gains tax disparity. Meanwhile, Australian PM Albanese faces public backlash and communication challenges over budget tax changes, with critics and supporters weighing in.
Australia's budget proposes a 30% minimum tax on new discretionary trusts, exempting deceased estates and existing testamentary trusts. While critics label it a 'death tax,' experts argue it targets tax minimization, not inheritance value, though it may increase taxes on intergenerational wealth transfer.
The most important number in the Victorian budget isn't listed in its pages. It's the 206 days until the polls, with the Labor Government seeking an unprecedented fourth term.
The most important number in the Victorian budget isn't listed in its pages. It's the 206 days until the polls, with the Labor Government seeking an unprecedented fourth term.
The commission of inquiry into the CFMEU has this week heard the union had a complex relationship with the former Labor government.
The commission of inquiry into the CFMEU has this week heard the union had a complex relationship with the former Labor government.
