Today
Influential or ‘enfeebled’: Has Treasury lost its mojo?
With high government spending, low productivity, and no tax reform in 25 years, an uncomfortable question is being whispered: Has Treasury lost its mojo?
Yesterday
Chalmers’ spending transition in doubt
The treasurer’s hope for the economy to shift from government spending to business-led growth may be on shaky ground.
Private sector-led recovery in doubt as companies hold back investment
The OECD has urged the federal and state governments to repair their budgets, as new data shows record growth in welfare spending and business investment languishes.
This Month
‘Act of self-harm’: Albanese resists Trump on tariffs and defence
Anthony Albanese has distanced himself from the Trump administration on steel tariffs and pressure for more defence spending.
Liberal admits ‘tactical errors’ on tax and spending
Shadow finance minister James Paterson has admitted it was a mistake to oppose Labor’s income tax cut at the election and says the Coalition must re-establish its economic credentials.
May
‘A tax on a tax refund’: Franking credits to be hit by Labor’s $3m super grab
Labor’s proposed legislation in effect will be a levy on a tax refund that investors receive for corporate tax paid by companies they invest in.
Best defence to US-China trade war is productivity
Treasury boss Steven Kennedy says business should adopt artificial intelligence more quickly and governments should reform road user charges, project approvals and carbon pricing.
Super tax change is ‘hard reform’: Treasury boss
Tax experts challenged Steven Kennedy’s contention that the increased tax on superannuation was a serious reform, likening it to a hasty revenue grab.
Chalmers accused of ‘double standard’ on PM’s $300k pension
Liberal MPs and others are criticising special rules that allow some politicians and public officials to delay paying the new superannuation tax until retirement.
Politicians to pay super tax later than others
Anthony Albanese and other public officials with defined benefit pensions can defer payments of the higher levy on retirement savings until they retire.
Ley tones down anti-business policies in Coalition deal
A formal Coalition agreement is expected to be signed off between the Liberals’ Sussan Ley and National Party leader David Littleproud early this week.
Big business the driver of wages, growth: McKinsey
A new McKinsey report says large, fast-growing companies are delivering most of the economy’s productivity growth and higher pay.
There is a case to reform super tax breaks. But not this way
Australia’s tax breaks on retirement balances are generous. But the treasurer is going about reform the wrong way, experts say.
‘Too complex already’: Pushback grows against Labor’s $3m super tax
Deanne Stewart, CEO of the country’s third-largest super fund, says she would like the $3 million threshold for the new tax to be indexed and urged the government to stop making the system more complex.
‘Don’t count China out’ in Trump trade war, RBA deputy says
Andrew Hauser says China’s economy is strong enough to withstand Donald Trump’s tariffs and Australian companies remain upbeat about Asia’s largest economy.
Superannuation tax hike on me is ‘fair’: industry super godfather
One of the founders of industry super, Garry Weaven, has backed the plan to impose extra tax on $3 million-plus super balances, even though he’ll be affected.
Why Chalmers must lift living standards to become PM
If Jim Chalmers serves as treasurer for nine years, the performance of the Australian economy will be his to own.
Industry super pushes for Chalmers to change retirement tax hike plan
The country’s two largest pension funds have privately lobbied the government to index the tax’s $3 million threshold to inflation to maintain confidence.
Trump’s trade uncertainty means more RBA cuts to come
The US president’s name is not mentioned once, but his presence permeates throughout the Reserve Bank’s analysis.
Tax breaks for business investment on agenda: Wood
The Productivity Commission will look for tax reforms that will stimulate investment without draining the budget.