If Anthony Albanese and Jim Chalmers think the Budget backflip announced on Thursday does the job they need to think again. They need a bigger scraper. And Rita Saffioti indicated she was ready to use it.
Innovative startups will have access to the existing 50 per cent capital gains discount and a proposed minimum tax on discretionary trusts will be axed.
Jacob Shteyman
Jim Chalmers hasn’t just tried to put lipstick on a pig with his Budget charm offensive. He’s gone for the full porcine makeover.
A recently re-elected state government is tipped to focus on managing growing debt rather than cost of living relief when its budget is handed down.
Abe Maddison
The biggest outrage was expected to be over investment properties, but the hidden issue will hurt small businesses, says Mark Riley.
Mark Riley
New Zealand has unveiled a bare-bones budget with a projected surplus sooner than expected, but few incentives for voters in an election year.
Lucy Craymer and Stella Qiu
The boss of Australia’s biggest lender has backed in Treasurer Jim Chalmers’ controversial capital gains tax reforms but has urged the Government to reconsider attaching them to assets outside of real estate.
Daniel Newell
A big four lender has tightened its home lending rules after the Federal Government removed a perk that allowed property investors to claim mortgage interest payments as a tax deduction.
Richard Henderson
It’s no shock that this generation of Labor MPs stumbled into this Budget mess. They go straight from university into the office of a union or a Labor MP. And they then get a factional ride into the parliament.
Paul Murray
Budgets usually disappear from the public consciousness and the news cycle after a few days. Not this one.
SGH boss Ryan Stokes says the Albanese Government’s recent tax overhaul will ‘punish aspiration’ and adds to a broader policy environment making Australia lose its investment attractiveness.
Adrian Rauso
It is already clear that Dr Chalmers’ document is deeply flawed. And perhaps unsalvageable.
The lobby group for small business owners is hoping enough nervous Labor MPs raise concerns about tax changes that could cause unemployment to rise.
Stephen Johnson
An investment expert has warned Australians an “extremely overvalued” property market will take a hit from rate hikes, Federal Budget tax changes and a potential economic downturn.
Matt Mckenzie
Tasmania Premier Jeremy Rockliff says Treasury has tipped his state's economic growth to motor ahead in future years.
Ben McKay
The Federal Government is overstating the benefits of its trust tax reforms to small business and some could wind up with tax bills of 60 per cent, experts say.
Ryan Johnson
If you’re involved in a family trust, special tax concessions announced by Treasurer Jim Chalmers last week mean now might be the time to rearrange your affairs.
Nick Bruining
A bid to overhaul emergency services funding could result in property owners paying hundreds of dollars for a land tax in one state.
Kat Wong
The risk is that taxation policy begins influencing investment decisions in ways that may not necessarily produce the best long-term economic outcomes for investors or for capital markets more broadly.
Robert Zammit
Jim Chalmers knew he would be branded a liar as he prepared the budget that he and Prime Minister Anthony Albanese have now conceded more than 39 times backflipped on election promises.
Katina Curtis
The capital gains tax overhaul designed to make housing fairer could also make it more expensive for young Australians to build wealth outside property. What do young investors think?
A trio of politicians travelled to Albany this week to spruik the local benefits of the State Budget, their plan to “drag” people to the regions and the future of the Great Southern as an energy hub.
Melissa Sheil
A local small business owner says the lack of targeted Federal Budget measures to support firms like his came as no surprise because it was never going to be the priority amid a cost-of-living crisis.
Cheyanne Enciso
A disappointing trading update and concerns about the fallout from the Federal Budget have sent Commonwealth Bank of Australia plunging to a $30 billion ASX wipeout.
Sean Smith
