News Australia

Australia’s income tax take is set to soar to a record high this financial year with taxpayers to be slugged even more in the future despite the Albanese government’s stage three tax cuts. Fresh budget forecasts released on Tuesday night show Australians will again be flattened by record income tax collections in just two years […]

All Australian households will receive cost of living relief in Tuesday’s federal budget, as Treasurer Jim Chalmers promises to strengthen the economy with the bold Future Made in Australia plan. In his own personal Oprah moment, the treasurer has delivered a tax cut for every Australian, a boost in welfare for about a million renters, […]

Aussies are leaving NSW in droves as Sydney’s status as the country’s most expensive city drives its residents into the waiting arms of the other states. Every day, on average, 77 people are ditching NSW overwhelmingly to set up shop in Queensland and Western Australia. That’s according to new state population projections from the federal […]

Australia is on track to win its brutal and long-running war against inflation earlier than expected, Treasurer Jim Chalmers has predicted, paving the way for interest rate cuts. Two years after the Reserve Bank began hiking the official cash rate, slamming mortgage holders with 13 increases and adding thousands of dollars to the cost of […]

The government has gone all-in on its strategy to solve the crippling housing crisis, upping its bet on a long-term fix over short-term relief. Tuesday’s budget includes $6.2 billion of additional spending for new measures to boost housing supply via social housing investment, infrastructure improvement, and student accommodation. It adds to the recently coined Homes […]

The Reserve Bank could deliver a rate cut by Christmas if fresh inflation forecasts from the federal budget prove correct, but billions of dollars of additional spending unveiled by Treasurer Jim Chalmers on Tuesday evening could risk stoking price pressures. Updated inflation forecasts show consumer price growth could return within the Reserve Bank’s 2 to […]

Highly skilled migrants will be targeted while the total migration intake is slashed over coming years, as the government tries to reduce pressure on the stretched housing sector while building out its Future Made in Australia plan. After a record net overseas migration intake of 528,000 in 2022-23, Treasury is forecasting that figure will decline […]

Eighty per cent of Australia’s workforce will have tertiary qualifications by 2050 under an ambitious target announced by Labor in Tuesday night’s budget, in a bid to meet the shortages of a changing economy. Treasurer Jim Chalmers used his budget to announce the government would spend $1.1bn over five years from 2023-24 to make changes […]

The price of prescription medications listed on the Pharmaceutical Benefits Scheme will be frozen for a year. In delivering the federal budget on Tuesday, Treasurer Jim Chalmers reaffirmed the government’s support for strengthening Medicare and increasing the country’s bulk-billing capacity with a range of measures intended to keep the nation’s health bills down. Additional funding […]

The Treasurer is hiding a dirty secret in the budget that’s so X-rated it’s not even available in a personal income tax cut sealed section. And let’s just say it involves having something done to you that sounds good in the short-term, but may not prove quite so enjoyable over the medium term. Spoiler: It […]