Shadow Treasurer Tim Wilson's family investment trust holds undisclosed shares in Gondwana Carbon, a climate advisory firm involved in carbon credit trading. ASIC records show the trust held directorship until May 2023, and shares in another firm, Spektrum Holdings, were also not disclosed.
The federal politics live blog from Parliament House, Canberra, covers the Reserve Bank's interest rate decision and the reported ceasefire deal between the US and Iran.
Federal Treasurer Jim Chalmers attributes One Nation's popularity to economic pressures and voter disconnection, contrasting their approach with the government's relief measures. He also defends planned tax reforms against criticism, particularly from Opposition Leader Angus Taylor.
Labor Treasurer Jim Chalmers highlighted Shadow Treasurer Tim Wilson's own 2020 book, 'The New Social Contract,' which advocates for taxing labor and capital income equally and criticizes preferential tax treatment for established interests, aligning with Labor's proposed budget changes on capital gains tax and negative gearing.
The conflict in the Middle East, exacerbated by US actions, is costing the Australian Capital Territory (ACT) budget an estimated $2.3 million per day. This adds to existing domestic financial pressures, with potential for much worse economic fallout if the conflict prolongs.
The ACT's budget deficit has ballooned by $240 million in 103 days, with 'the Trump effect' costing $2.3 million daily due to higher energy costs and supply chain issues stemming from the Middle East conflict.
South Australia's latest budget, delivered by Treasurer Tom Koutsantonis, grapples with persistent challenges from 2017, including the Whyalla steelworks and the Women's and Children's Hospital project. New geopolitical instability, particularly the Iran War, adds significant forecasting difficulty and risk to the state's finances, with projected net debt rising sharply.
South Australia's Treasurer Tom Koutsantonis presented a budget grappling with persistent challenges from 2017, including the Whyalla steelworks and a new hospital project facing cost blowouts. New geopolitical instability, particularly the Iran War, adds significant uncertainty to revenue forecasts, while rising debt and interest expenses pose further risks.
South Australia's 2026-27 budget prioritizes cost-of-living relief and housing initiatives, allocating $1.3B for rent-to-own homes and significant funds for education and business support. Despite a projected surplus, state debt is expected to exceed $53B by 2029-30.
The Greens are scrutinizing the Australian government's tax reform bill, particularly powers that could allow the treasurer to exempt homeowners in his electorate from capital gains tax changes. While Labor seeks Greens' support for passage, concerns remain about potential legislative overreach.
Australia's economy slowed significantly in early 2026, with real GDP growth falling to 0.3% in the March quarter. Living standards declined as household incomes struggled to keep pace with inflation, despite a boom in datacentre investment.
South Australia's Labor government will cut 1,000 back-office public service jobs by replacing only one in two departing employees to save $120 million annually. Treasurer Tom Koutsantonis stated this measure will not impact frontline services, while the union expressed alarm.
Nationals MP Colin Boyce expresses deep concern over One Nation's rising popularity, fearing electoral consequences. He urges the Nationals to reconnect with core values. Meanwhile, Liberal MP James Paterson criticizes One Nation leader Pauline Hanson's absence from Senate estimates, and Australia imposes sanctions on Israelis over West Bank settler violence.
Australian Treasurer Jim Chalmers views declining auction clearance rates as potentially beneficial for first-home buyers, especially if it reduces competition from investors. This comes as home prices fall and auction participation wanes, partly due to interest rate hikes and broader economic conditions, alongside proposed government tax reforms affecting property investors.
Health groups in Tasmania are criticizing $700 million in budget cuts to the Health Department, deeming them 'completely unrealistic' and a 'joke.' The cuts, part of a larger $1.47 billion public service efficiency drive, are expected to impact patient care and staff workloads.
Health groups in Tasmania are criticizing the state budget's $702.61 million in cuts to the Health Department over four years, deeming them "completely unrealistic" and disconnected from the system's needs.
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.
Labor MPs anticipate government concessions on capital gains tax for startups following backlash to budget changes. Concerns exist about explaining complex tax reforms effectively.
Tasmania's Treasurer Eric Abetz aims for a surplus by 2027-28, relying on $1.47 billion in "operational efficiencies." Details on specific cuts remain vague, raising concerns about frontline services and the feasibility of targets, with S&P Global noting the budget "hinges on execution."
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.
Tasmania's 2026-27 budget forecasts a deficit for the upcoming year, followed by a $192.5 million net operating surplus in 2027-28, with peak debt expected by 2028-29 before decline, according to Treasurer Eric Abetz.
Business owners have penned an open letter to the Australian PM, voicing criticism over planned capital gains tax changes. Finance Minister Katy Gallagher stated that 90% of small businesses will remain unaffected.
Australia's Treasurer Jim Chalmers has ordered six Chinese-linked companies to sell their stakes in rare earths miner Northern Minerals, citing national interest and compliance with foreign investment rules. This action aims to prevent Chinese investors from gaining control of the company, which is crucial for critical minerals supply chains.
Treasurer Jim Chalmers has ordered six Chinese-based companies and one from the British Virgin Islands to divest holdings in Northern Minerals in Western Australia, citing national interest and foreign investment framework compliance.
