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The Latest Breaking News from Jim Chalmers

Jim Chalmers signals cap on super balances to rein in tax concessions for wealthy

The treasurer suggested that the small percentage of people with pots over $3m should not receive tax benefits, but prime minister more cautious

The Guardian - AU

Afternoon Update: super tax changes on the table; Andrew Tate detention extended; and introducing Wordiply

The federal government is hinting at possible tweaks to superannuation concessions in the coming May budget

The Guardian - AU

What are Australia’s tax concessions on super and are they a problem?

Tax concessions on retirement savings are costing the budget billions and some people are accumulating mega balances

The Guardian - AU

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Changes to superannuation are being floated by the federal government. Here's what's being considered

The federal government has made it clear it wants to have a conversation about changing our superannuation system. Here are some of the ideas being put forward by it and other groups.

ABC News

Superannuation tax changes on the table as treasurer calls for ‘national conversation’ on cost

Jim Chalmers says Labor has not changed its position but had to acknowledge ‘pressures on the budget’

The Guardian - AU

Warning on espionage interference raises red flags

Australia's national security chief has faced pressure to stop operations to avoid upsetting foreign regimes, which the treasurer says is concerning.

AAP

Treasurer wants 'national conversation' on super taxes

Jim Chalmers says he won't "pretend away" pressures on the federal budget which includes superannuation tax concessions.

AAP

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David Pocock says super tax concessions should be up for discussion amid cost-of-living crisis

The Coalition has accused Labor of breaking election promises despite no new policy proposals being put forward

The Guardian - AU

See when Australia's biggest banks stopped paying proper interest on your savings – and what you can do about it

Whenever interest rates went up in the past, I used to get told it wasn’t all bad news. At least it was good for some people: savers – people with money in the bank.

The Conversation

Australia needs a new plan to keep rural banks open before they all get turned into cafes

Financial services are essential to keeping regional areas alive but continuing bank closures are putting communities at risk

The Guardian - AU

Rising interest rates may be Labor’s kryptonite – but remember it never ended up killing Superman

Are the Reserve Bank’s decisions to keep hiking the cash rate damaging the Albanese government’s economic credentials?

The Guardian - AU

The four principles that redefine the true purpose of superannuation

If you asked 10 people on the street what super is for, they’d all likely say “money for your retirement”.

The New Daily

Finding ‘true north’: Treasurer Jim Chalmers unveils fresh goals for our retirement savings

“We’ll move to end the super wars once and for all, and make sure that future changes to the system are compatible with its very objective.”

The New Daily

31 years after the advent of compulsory super, the government is about to decide what it's for. The answer will matter

Today Treasurer Jim Chalmers released a consultation paper on “Legislating the Purpose of Superannuation”.

The Conversation

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The Guardian - AU

Jim Chalmers opens door to changing superannuation tax concessions

Treasurer again questions sustainability of concessions on contributions, saying conversation ‘shouldn’t be off the table’

The Guardian - AU

Reserve Bank offered treasurer the choice to have King Charles on Australia’s $5 banknote

RBA releases documents under FOI after Jim Chalmers said decision to feature Indigenous culture instead of monarch was bank’s

The New Daily

Alan Kohler: RBA defence of interest-rate mallet highlights the truth about inequality

The first thing is that inequality is worsened by the responses to both low inflation and high inflation; it’s a lose/lose.

AAP

Treasurer questions viability of super tax breaks

Jim Chalmers has kept the door open to an overhaul of super tax concessions as he looks for opportunities to repair the stretched federal budget.

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The Guardian - AU

Chalmers pledges to ‘end the super wars once and for all’ and calls for end to early access

Treasurer proposes to enshrine in law a new definition of super to guide future policy decisions

The Conversation

The Lowe road – the RBA is treading a 'narrow path' between inflation and recession

It’s a tough time for central bankers the world over, but especially for Reserve Bank of Australia governor Philip Lowe.

The Conversation

6,000 words but silent on falling real wages: what Chalmers got wrong on 'values-based capitalism' and fixing our economic woes

Federal Treasurer Jim Chalmers’ recent essay in The Monthly, “Capitalism after the crises”, tells us a lot about economic predicament faced by the Albanese government and governments around the world.

The Guardian - AU

Afternoon Update: Unemployment rises to 3.7%; Queensland shooting declared terrorism; and the ‘perfect’ cosmic explosion

Jim Chalmers says there are ‘human consequences’ for slowing economy

ABC News

RBA boss Philip Lowe defends record bank profits as he flags further rate hikes

Philip Lowe says it is important in the long term to have "strong" banks that are turning a profit, even though it may be hard to hear for people in the grip of skyrocketing mortgage repayments.

The New Daily

Paul Bongiorno: Aston by-election puts sharp focus on political faultlines

The by-election date for the Melbourne seat of Aston hasn’t been announced, but it is already having a significant impact on politics.

The New Daily

Alan Kohler: The undemocratic independent Reserve Bank

Politicians refer so often to the “independent” Reserve Bank that its initials should change to the IRBA, writes Alan Kohler.

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