Hello and welcome to our budget live blog. Prime Minister Anthony Albanese and Treasurer Jim Chalmers will hand down their second budget tonight, with Labor on the cusp of delivering country’s first surplus in 15 years. The turnaround has been driven by high commodity prices, a strong jobs market andContinue Reading
Offshore liquefied natural gas (LNG) producers would be taxed more under a federal government proposal to shore up domestic supply and “ensure Australia remains a reliable international energy supplier and investment partner.” The changes to the petroleum resource rent tax (PRRT) would put a cap on deductions, limiting the proportionContinue Reading
Treasurer Jim Chalmers has reaffirmed Labor’s commitment to stage three tax cuts in the new year as the nation’s cost of living crisis continues. Mr Chalmers flagged the Albanese government’s position on the tax plan remained firm. “Our position on the tax cuts hasn’t changed,” he told reporters on Monday.Continue Reading