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The Latest Breaking News from Jim Chalmers

Afternoon Update: Labor’s super tax walkback; a climate tipping point; and a surprise conversion to birdwatching

Government now plans to scrap tax plan’s application to unrealised gains and delay start date of changes to July 2026

The Guardian - AU

Jim Chalmers unveils major retreat on controversial superannuation changes

The Albanese government has finally announced a major retreat on its proposed controversial superannuation changes.

The Conversation

'Victory for common sense': Labor backdown on super tax

A plan to increase tax on large super balances has been overhauled, with Labor saying they took feedback on its original plan seriously.

AAP

From analysis to the latest developments in health,
read the most diverse news in one place.

'Payday super' popular but could challenge small firms

Legislation to align superannuation with payday has been broadly welcomed despite warnings some firms would face a cashflow crunch and compliance headaches.

AAP

Six-week-old Priya set to impact 'countless lives'

It will soon be illegal for employers to cancel paid parental leave after a stillbirth or early infant death.

AAP

The controversial GST deal with the states is under review. There are better alternatives

Treasurer Jim Chalmers last week announced the Productivity Commission will review the 2018 deal that gave states a guaranteed minimum share of the goods and services tax (GST).

The Conversation

Spending rebound staggers as Aussies kick booze, smokes

Strong growth in household spending earlier this year is unlikely to be matched, which could ease Reserve Bank fears of a return of inflation pressures.

AAP

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Australian prime minister urges China to resume iron ore imports after reported trade disruption

Australia's Prime Minister Anthony Albanese has urged China to import Australian iron ore without hindrance

The Independent UK

BHP cops $5b value hit on talk of China trade blockade

Reports China is halting iron ore shipments from BHP have weighed on the world's biggest miner, but experts say any stoush over prices should be short-lived.

AAP

Jim Chalmers’ budget victory lap outpaces reality as Australia’s debt continues to climb

The treasurer celebrated an outcome that could have been worse, but a structural challenge remains as workers are left with the burden of repair

The Guardian - AU

Anika Wells to meet Singtel’s boss as Optus experiences second triple-zero outage in less than two weeks

Optus says it confirmed the welfare of all callers who called triple zero after an issue affected Illawarra region in NSW

The Guardian - AU

No room for republic in Labor's 'huge agenda'

A push for an Australian republic isn't high on the government's agenda, even though Labor Party policy calls for the reform.

AAP

Australia's luck running out despite budget bright spot

Australia's budget deficit for last financial year ended up being narrower than expected but younger workers will still be on the hook for a decade of red ink.

AAP

Nobody wanted to say ‘mission accomplished’ on inflation – certainly not Jim Chalmers. But he was surely thinking it

Economists are revising their rate cut predictions after the latest ABS figures revealed inflation is trending back up

The Guardian - AU

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AAP

West versus rest as fresh stoush brews over GST spoils

A review of a contentious carve-up has reignited debate over the fairness of one state getting more GST revenue under a special deal with a previous government.

AAP

Economy shrugs off tariff turmoil to outperform peers

Central banks such as the RBA need to be wary of the risks of inflation kicking off again, which could trigger market sell-offs, a global economic body warns.

AAP

Head of corporate regulator to step back from role

ASIC chair Joe Longo has announced he won't look to be reappointed in the position when his term runs out in May.

The Conversation

Government announces 2035 target of 62–70% emissions reduction

The Albanese government has announced Australia will commit to cutting emissions by between 62% and 70% on 2005 levels by 2035.

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The Conversation

This report measures our national wellbeing across five key areas. Health trends are not improving

In 2023, Treasurer Jim Chalmers announced the government would measure what matters to the wellbeing of Australians as a complement to the traditional economic measures in the national accounts.

AAP

Future Fund eclipses $250b after bumper return

Australia's sovereign wealth fund has delivered a strong result for financial year 2025, despite significant global economic turmoil.

The Conversation

We can’t fix what we don’t track. That’s why Australia needs an official poverty measure

Following last month’s economic reform roundtable, Treasurer Jim Chalmers said all attendees agreed “higher living standards is the holy grail, and a more productive economy is how we deliver it”.

AAP

Electric road fees push sparks-up to plug fuel tax gap

EV users are closer to paying road maintenance fees as the nation's treasurers meet to work out a way to fund a shortfall of drivers paying less excise on fuel.

AAP

AI business 'wake-up call': teach workers or miss out

Workers need greater training in artificial intelligence technology to tap into future innovations, a study has found, but many are resistant to change.

AAP

Hot economic growth may place further rate cuts on ice

Reserve Bank governor Michele Bullock has signalled there might not be many more interest rate cuts to come after surprisingly strong economic growth.

The Guardian - AU

Australian households are spending more – and it’s helping the economy regain some momentum

After two years of weak economic growth, there are signs of a recovery in household consumption – though productivity remains a soft spot

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