Economy

Treasurer softens up voters for ‘hard decisions’ on tax

26 March

Treasurer Jim Chalmers is willing to anger older Australians to make the tax system fairer for younger generations. But he admitted productivity growth would take longer to recover than previously thought during a major pre-budget address to a...[Read More]

How much each state will get from the GST carve-up

19 March

CHANGES IN STATE AND TERRITORY GST PAYMENTS NSW * GST payment increased from $28.1 billion to $28.2 billion * Relative share of GST compared to per capita allocation fell from 86c in the dollar to 82c * Share of GST fell from 26.7 per cent to 25.5...[Read More]

Oil shock further reason for tax reform, spending cuts

18 March

Politicians must resist the temptation to use a budget boon from the Iran war to pump the economy up with cost-of-living measures such as fuel excise cuts or energy rebates, economists say. Repeating the approach of the post-COVID-19 pandemic...[Read More]

‘Significant spikes’: servos to face huge gouging fines

12 March

Service stations deliberately price gouging customers due to the Middle East war will face harsher penalties, as the federal government acknowledges panic buying has led to shortages in regional areas. Treasurer Jim Chalmers said penalties would be...[Read More]

CBA boss calls for spending cuts, bold reform in budget

5 March

The bosses of Australia’s largest companies have urged Treasurer Jim Chalmers to take a bold agenda to the May budget to salvage the country’s faltering international competitiveness. Speaking at the Australian Financial Review Business Summit,...[Read More]

Pressure to fix gas tax raising less revenue than beer

4 March

Labor faces a push for a parliament inquiry into Australia’s underperforming gas tax amid growing calls to make fossil fuel multinationals pay a larger share. As Treasurer Jim Chalmers mulls tax reform to make the economy more productive and...[Read More]

‘Dumbest option’: top economist slams housing tax break

26 February

A major rewrite of Australia’s tax rules is needed to make them fairer and more efficient, one of the nation’s top economists has warned. Former Treasury secretary Ken Henry, who led a 2010 review of taxes, said the current system could be...[Read More]

Aussies tapping more credit as arrears value swells

26 February

Australians have leaned into debt ahead of the central bank’s pivot to hike interest rates, with applications for mortgages and credit cards doubling in the recent quarter. Mortgage credit demand grew 12.3 per cent, while credit card applications...[Read More]

New year brings cheaper medicines, higher energy bills

1 January

When Australians wake up to a new year, changes to government payments and policies will impact the finances of millions of households. From Thursday, the maximum cost of medicines on the Pharmaceutical Benefits Scheme will be slashed from $31.60 to...[Read More]

Self-interest widening wealth gap between old and young

1 January

Is the wealth gap between old and young Australians becoming a gulf? Former federal Treasury secretary Ken Henry has declared young workers are being “robbed” by the tax system, while ex-Victorian treasurer Tim Pallas calls the intergenerational...[Read More]

Boxing Day sales take off with bargain airfares

31 December

With bumper Boxing Day sales under way, shoppers are being cautioned to closely track prices to ensure they’re getting genuine bargains not illusory offers. Two major airlines have also added to the December 26 bargain hunt early on, announcing...[Read More]

Analysts forecast more gains for price of gold in 2026

25 December

Gold has made its biggest jump since the 1979 oil crisis in 2025 – with prices doubling in the last two years – a performance which might previously have meant forecasts of a big correction. Yet a growing investor pool and factors ranging from...[Read More]

Cozzie livs no match for multibillion-dollar Xmas spend

25 December

A forecast multibillion-dollar uptick in Christmas and holiday spending is being taken as a sign Australians are finally getting beyond cost-of-living woes. Consumers are by and large expected to loosen the purse strings over the silly season, with...[Read More]

2025: The year the world chose direction

18 December

History rarely announces itself in dramatic bursts. More often, it reveals itself through quiet turning points — moments when trends harden into realities and choices can no longer be postponed. 2025 was one of those years. It did not deliver a...[Read More]

Better budget bottom line, higher inflation on the way