New Australian budget measures like the $250 Working Australians Tax Offset and $1,000 instant tax deduction won't benefit workers this tax year as they are not yet legislated. The instant deduction is slated for the 2026-27 financial year, and the offset for 2027-28, with specific income thresholds and conditions applying.
Australian media outlets are embracing video content, while 2SER community radio has found a new funding model, and Politico is establishing an Australian outlet
Australia's housing market is described as a 'hostage situation' due to soaring prices and declining homeownership. The government's proposed tax changes aim to curb investor advantages, potentially leading to price falls and impacting banks, real estate agents, and state governments, while benefiting prospective owner-occupiers.
Australia's housing market, described as a 'hostage' situation, faces potential stagnation or decline due to government tax changes aimed at improving affordability. The 30-year 'super cycle' of price growth may be ending, impacting investors, banks, and state governments, while potentially benefiting first-time buyers.
The Albanese government's budget faces ongoing criticism, notably for disproportionately cutting support for Australians with disabilities, while concerns for the wealthy dominate public empathy.
Changes to negative gearing and capital gains tax announced in the federal budget have dampened market sentiment, leading to a drop in auction clearance rates nationwide. Experts suggest this cooling market may present an opportunity for first-home buyers.
Changes to negative gearing and capital gains tax announced in the federal budget have negatively impacted market sentiment, leading to a drop in auction clearance rates. Experts suggest this cooling market could present opportunities for first-home buyers, while potentially making it less appealing for investors.
Changes to negative gearing and capital gains tax have cooled the property market, with auction rates dropping. Experts believe this is good news for first-home buyers as investors are less likely to purchase.
Economists discuss the Australian federal budget's tax reform proposals, including changes to capital gains tax and trusts. They also analyze Liberal leader Angus Taylor's budget reply, particularly his proposal to index personal income tax thresholds to inflation.
South Australia's housing market is cooling due to rising interest rates and federal budget tax changes, leading to fewer open inspection attendees and a potential slowdown in price growth to inflation levels.
Prime Minister Anthony Albanese passionately defended Labor's proposed tax reforms, including changes to negative gearing and capital gains tax, stating they aim to rebalance the housing market for first-home buyers and support aspiration for all Australians. He faced criticism but received a standing ovation at a state conference.
Shadow treasurer Tim Wilson has called the federal budget an 'economic earthquake' and discussed Paul Keating's criticism of the Coalition's response to Labor's tax reforms. He also defended Angus Taylor's controversial migration policy.
Australia's proposed budget tax changes, particularly concerning capital gains tax and trusts, aim to ensure high-income earners pay at least 30% tax. The article clarifies misconceptions and explains the potential impact on individuals and families, highlighting the disparity between wage earners and asset owners.
Australia's government is defending recent budget changes to negative gearing and capital gains tax, despite negative polling. Ministers argue the measures will boost housing supply for young buyers, while critics accuse them of breaking election promises.
Social Services Minister Tanya Plibersek acknowledged the Australian government needs to better explain budget changes to capital gains tax and negative gearing, as polling shows public indecision and concern about the economic impact.
Kalgoorlie-Boulder's "Water Bank" project, designed to drought-proof the city, has been excluded from the latest federal budget, despite an estimated cost of $92 million. The project, which aims to increase water storage and recycling, was seeking $9.5 million from the National Water Grid Fund.
The ASX 200 is expected to open slightly down as markets make sense of the federal budget. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Housing policy changes announced in the federal budget could make it easier for some to buy homes, but others are planning to sell before they lose too much.
The federal budget reveals the government expects more migrants to arrive to Australia than previously thought, even as it faces a campaign from the Coalition and One Nation to slash migration rates.
The Executive Council of Australian Jewry has welcomed a $600 million federal budget funding commitment for the Jewish community, but says it is a "small comfort" for those who lost loved ones in the Bondi terror attack.
The Executive Council of Australian Jewry has welcomed a $600 million federal budget funding commitment for the Jewish community, but says it is a "small comfort" for those who lost loved ones in the Bondi terror attack.
Despite it being an intergenerational budget, specific parts of the economic strategy will impact older Australians.
Answers to all your questions about the federal budget's changes to negative gearing and the capital gains tax.
Other funding boosts for the ACT revealed in the budget papers include $50 million to duplicate Drake Brockman Drive in West Belconnen, aimed at servicing the area's growing population, and almost $10 million for the National Film and Sound Archive.
