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.
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.
Labor MPs anticipate government concessions on capital gains tax for startups following backlash to budget changes. Concerns exist about explaining complex tax reforms effectively.
Australia's Albanese government is facing criticism for its recent budget, amplified by social media memes and objections from young entrepreneurs, particularly women, regarding capital gains tax hikes. Premier Chris Minns's comments on income tax also caused friction. Meanwhile, One Nation sees a surge in support, potentially challenging both major parties.
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.
Australian tech entrepreneurs are using AI-generated images of Prime Minister Albanese as their "new founder" to protest proposed capital gains tax changes. They warn the reforms could stifle innovation, discourage talent, and push startups overseas.
Australia's Treasurer Jim Chalmers defended proposed tax changes, including reduced Capital Gains Tax discount and changes to negative gearing, arguing they remove market distortions and encourage investment based on economic, not tax, outcomes. Critics argue the reforms harm young investors and rentvestors.
Treasurer Jim Chalmers says the offset will allow future governments to return bracket creep to working Australians in the form of an offset. Follow live.
Treasurer Jim Chalmers has defended negative gearing and capital gains tax changes unveiled in his fifth federal budget last night. Follow live.
Treasurer Jim Chalmers says the offset will allow future governments to return bracket creep to working Australians in the form of an offset. Follow live.
Treasurer Jim Chalmers says tonight's budget will be the government's most ambitious and will feature "more than the usual amount of savings and more than the usual amount of reform". Follow live.
Treasurer Jim Chalmers will hand down the federal budget tonight. It's expected to tackle housing inequity, but will it bring back the Great Australian Dream?
Treasurer Jim Chalmers will hand down the federal budget tonight. It's expected to tackle housing inequity, but will it bring back the Great Australian Dream?
Treasurer Jim Chalmers is unveiling his fifth budget tonight, and housing for younger Australians will be a centrepiece.
Treasurer Jim Chalmers says the tax on offshore gas projects has raised more revenue than expected this year, as he prepares to hand down a budget focused on fixing a "broken" housing market and tax system.
Treasurer Jim Chalmers will reveal details of the $2 billion fund in Tuesday's federal budget, declaring the cash injection will add an extra 65,000 homes over a decade.
For once, the budget won't be a dull one. Jim Chalmers's tax reforms will create a stir and some question whether they will close the generation gap, but the treasurer is projecting a relaxed figure.
Treasurer Jim Chalmers says Australia's productivity problem will take a long time to fix, but a $10 billion annual saving on business compliance costs is a start.
Treasurer Jim Chalmers says a fuel security package will be unveiled following today's meeting of National Cabinet. Follow live.
Treasurer Jim Chalmers says a fuel security package will be unveiled following today's meeting of National Cabinet. Follow live.
Prime Minister Anthony Albanese has previously committed to delivering universal child care, but Treasurer Jim Chalmers has highlighted concerns about the cost.
Treasurer Jim Chalmers says ensuring young Australians have access to the housing market is "driving deliberations" about possible changes to taxes. Follow live.
Treasurer Jim Chalmers says ensuring young Australians have access to the housing market is "driving deliberations" about possible changes to taxes. Follow live.
