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The Latest Breaking News from Jim Chalmers

Tinkering with the capital gains tax discount isn’t enough. Here’s why it needs to go

It looks increasingly likely Treasurer Jim Chalmers will make changes to the capital gains tax (CGT) discount in the federal budget in May.

The Conversation

Politics with Michelle Grattan: former minister Ed Husic on why Labor must ‘stare down’ gas companies over tax

Next month’s federal budget is an even tighter balancing act than usual, with Treasurer Jim Chalmers facing global economic uncertainty, a fuel crisis and the need to juggle cost-of-living relief with combating inflation.

The Conversation

Disability cuts on table as treasurer eyes cost spiral

State officials will be briefed on the federal government's plans to overhaul spending on the NDIS, expected to be announced within days.

AAP

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NDIS infiltrated by organised crime gangs using intimidation and threats of violence against Australians

Review recommends better use of NDIS data to identify repeat rorters and a requirement for providers to register with the government

The Guardian - AU

Millions of Australians will get a $1,000 instant tax deduction under a new law – here’s how it will work

Draft legislation for treasurer Jim Chalmers’ new instant tax deduction policy lands just over a year after Labor proposed the change in the run-up to the 2025 election

The Guardian - AU

NDIS changes to be unveiled on Wednesday will provide budget’s biggest cuts

The Albanese government on Wednesday will unveil the biggest source of cuts in the May 12 budget, when it announces a sweeping overhaul of the National Disability Insurance Scheme.

The Conversation

Afternoon Update: Chalmers’ ‘severe’ economic warning; blood donation rules change; and the female gaze revolution

End of war ‘can’t come soon enough’, treasurer says, as inflation expected to rise above 5% in Australia with global supply chains buffeted

The Guardian - AU

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Chalmers says Iran war will raise inflation and unemployment, warning fallout of conflict could be ‘severe’

End of war ‘can’t come soon enough’, treasurer says, as inflation expected to rise above 5% in Australia with global supply chains buffeted

The Guardian - AU

States on edge about NDIS cuts as Chalmers flags they will be ‘easily the most important’ part of budget savings

Government sources in multiple states say they are worried about the breadth of the changes and possible costs

The Guardian - AU

Trucking industry celebrates Fair Work fuel payment win – as it happened

All the day’s news as it unfolded

The Guardian - AU

Australia joins calls for Iran ceasefire to be upheld

A dozen finance ministers have signed a joint statement calling on the US, Israel and Iran to implement the ceasefire in full as the global economy teeters.

AAP

Job market yet to feel impact of Iran war, rate hikes

Australia's relatively low jobless rate has reinforced the Reserve Bank's view the labour market is still tight, adding to the case for more rate hikes.

AAP

'Oil doesn't discriminate': businesses on shaky ground

Even if the Middle East conflict is resolved soon, Australia's business sector will take time to recover from a shaky start to 2026.

AAP

'Pretty severe': warnings for Australia ahead of budget

One of the world's leading economic bodies has warned a global recession could be on the way if the Middle East conflict is not resolved quickly.

AAP

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The Guardian - AU

IMF warns ‘unprecedented’ energy crisis could trigger global recession as Australia prepares for Washington talks

As treasurer Jim Chalmers weighs ‘extreme uncertainty’, one economic scenario sees global growth plunging to just 2% in 2026

AAP

Spoils of Iran war to deliver Chalmers a budget boost

The federal budget will be billions of dollars better off, even with added spending, because of higher commodity prices and inflation, a top economist says.

The Guardian - AU

Cuts to NDIS to be focus of Labor’s quietly launched razor gang ahead of May budget

Exclusive: Taskforce led by former Treasury official Anthea Long will advise on cost-cutting options for $52bn program

The Conversation

Grattan on Friday: A future plan on fuel should be central to Albanese government’s reform agenda

Using one lens, you could view the present contest between the Albanese government and the Taylor-Canavan opposition as pragmatism versus populism.

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The Guardian - AU

‘Uncertain times’: Albanese warns months ahead ‘may not be easy’ in rare address to nation about Middle East crisis

Prime minister urges Australians to consider using public transport and conserve fuel for ‘critical industry’ and others

AAP

Stagflation risk: Chalmers heeds budget warning

Treasurer Jim Chalmers is being urged to reform the tax and migration settings in the upcoming budget as the oil shock worsens Australia's productivity funk.

AAP

'Team Australia': big business urged to help in crisis

Conditions for Australian industry took its biggest one-month hit on record as a result of the Middle East oil crisis, prompting extra government support.

The Conversation

Albanese to address the nation on the Middle East war and fuel crisis

Prime Minister Anthony Albanese will address the nation at 7pm Wednesday night on the Middle East war, the fuel crisis and the government’s response to it, and what Australians can do in response.

The Guardian - AU

Anthony Albanese to address nation on Wednesday night as treasurer announces Covid-era support measures

Prime minister to deliver address live at 7pm AEDT as Jim Chalmers says Iran war having ‘extreme impact on global economy’

AAP

'Better world': inside Australia's pact with AI giant

A Silicon Valley tech boss has warned of the consequences should AI fall into the wrong hands as he signed an agreement with Australia on related safety.

AAP

Long, bumpy road ahead for fuel crisis, PM warns nation

Australians are being warned the fuel crisis could worsen as Anthony Albanese uses a national address to urge motorists to think of others when filling up.

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