November
Dutton’s tax surprise; Trump picks Musk; Borrowers ‘bank tax cuts’
Read everything that’s happened in the news so far today.
Dutton casts doubt on tax cuts for high earners
More than 1 million high-income earners had been expected to get further tax relief from the Coalition ahead of the next election. That now looks unlikely.
- Tom McIlroy and Jonathan Shapiro
Cathie Wood says Trump will be the best boost for US in 40 years
The investment manager says Donald Trump’s tax cuts will stimulate the US economy, but companies will put investments on hold until they see the details.
- Updated
- Matthew Cranston
October
Millions put tax cut money straight into the bank
Westpac estimates 84 per cent of the tax cuts have been saved in offset and deposit accounts, according to analysis of 1 million customer accounts.
- Michael Read
September
Income tax hits 25-year high in Chalmers’ surplus
The treasurer’s second budget in the black has been underwritten by the highest share of wages taxation since before the GST was introduced in 2000.
- John Kehoe and Michael Read
August
Households have run out of pandemic savings
The $300 billion in pandemic-era savings may have run out, encouraging households to save stage three tax cuts.
- Michael Read
June
Trump promises tax cuts in pitch to top CEOs
The former president delivered his populist economic pledges to Wall Street titans at a business roundtable event in Washington before the US election.
- Matthew Cranston
How stage three tax cuts can save you $322,000 on your mortgage
Directing tax savings to a mortgage can pay off handsomely over the long term.
- Lucy Dean
The three types of people most likely to avoid high-end super tax
A new study shows a quarter of high-income earners tweak their finances to minimise the tax they pay on superannuation, and they are mostly self-employed, trust beneficiaries and women.
- Updated
- Hannah Wootton
- Opinion
- Income tax
Treasury is addicted to income tax to fund spending
Virtually everyone is protected by the government from inflation eroding their real incomes, except the humble wage earner.
- John Kehoe
May
Tax cut ‘surprise’ could pump $10b back into economy
A surprisingly large number of people are unaware of the stage three tax cuts, which may make them more likely to spend their share of $23 billion, adding pressure to inflation.
- Michael Read
‘Don’t waste it’: Smart ways to spend your income tax cut
Some workers will have an extra $350 a month from July 1. Don’t waste this “powerful” opportunity, experts say.
- Michelle Bowes and Lucy Dean
April
Last thing Australia needs ‘is another car industry’, warns MCA boss
Labor should lay off “steering” business, invest in R&D and work with, rather than against, trade partners, says Minerals Council CEO Tania Constable.
- Jacob Greber
Tax surge consuming up to 45pc of household income
Federal, state and local government tax revenue is expected to amount to a near-record 30 per cent of gross domestic product in 2023-24, according to the CIS.
- Michael Read
March
Biden fights to save his presidency in fiery State of the Union
An energetic US President Joe Biden has used the State of the Union address to rail at Donald Trump in his most important speech before the November election.
- Matthew Cranston
February
- Opinion
- The AFR View
A bad week for Australian productivity and prosperity
Michele Bullock may be a glass-half-full optimist, but Labor’s latest moves will make economic recovery that much harder.
- The AFR View
Car-yard clash: Dutton takes aim at ‘ute tax’ on Dunkley trail
Cost-of-living politics overshadows the byelection race, which comes as the Treasury boss admits talk over the stage three tax reversal began in early December.
- Andrew Tillett
- Analysis
- Income tax
Britain, like Australia, has tough calls to make on tax
The Tories need tax cuts to revive their election prospects this year. But tax cuts might be unaffordable, and could keep interest rates higher for longer.
- Hans van Leeuwen
- Opinion
- Tax reform
Both sides of politics must commit to tax reform
The experts agree on what is needed for a rational tax system. The job of the politicians is to put self-interest aside and sell it to the public.
- Robert Breunig
Dutton signals backing for Labor’s tax cut changes
Opposition Leader Peter Dutton says he doesn’t want to stand in the way of people getting extra money.
- Andrew Tillett
