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The Latest Breaking News from Tax Cuts

Rishi Sunak warned against fresh austerity drive to finance tax cuts

Unions outraged as Jeremy Hunt said to be considering cutting public spending to balance books in next month’s budget

The Guardian - UK

Jeremy Hunt ‘considering spending cuts’ to fund pre-election tax giveaway

Treasury looking at reducing projected rise in public spending from 2025, FT reports citing insiders

The Guardian - UK

Australia’s economy likely to slow until stage-three tax cuts, lower interest rates and easing inflation kick in, CBA says

Spending tipped to moderate until households start getting some relief in the middle of the year, CommBank chief economist says

The Guardian - AU

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Revamped income tax cuts clear their first major hurdle

Taxpayers earning under $150,000 are in line for a greater tax cut, after the Albanese government's overhauled income tax package cleared the lower house.

AAP

UK's Hunt eyes public spending cuts to fund tax cuts

The Financial Times reports that the UK's Chancellor of the Exchequer, Jeremy Hunt, is considering further reductions in public spending to finance tax cuts.

Top News

PM delivers big pitch on tax cuts as crucial vote nears

People are doing it tough and should keep more of what they earn, the prime minister has declared in a big pitch to parliament on income tax cuts.

AAP

Hunt warned that UK tax cuts risk increasing mortgage rates

“A policy package that ends up lifting mortgage rates is the last thing Hunt will want with an election looming” Bloomberg economist Dan Hanson said

Evening Standard

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Guardian Essential poll: any changes to negative gearing get lukewarm support

Voters approve of Labor’s rejigged income tax cuts but any broader reform would fail to win over majority, latest survey finds

The Guardian - AU

CBI tells Jeremy Hunt to focus on green investment instead of tax cuts in budget

Lobby group joins calls for chancellor to resist pre-election giveaways next month and spend on projects to boost economy

The Guardian - UK

Property investors in focus as tax debate shifts gears

As home ownership becomes increasingly difficult for many, pressure is growing on the major political parties to revisit tax reform.

AAP

The Crunch: a widening ideological divide and the decline of birds

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The Guardian - AU

'They'll never change': PM goes on attack over tax cuts

Anthony Albanese has launched a full-throated attack against the coalition after it loudly complained and then quickly capitulated over changes to tax cuts.

AAP

Four Reasons to Tap Opportunity Zones Before They Expire

As a provision in the Tax Cuts and Jobs Act, opportunity zones could sunset at the end of 2026, but there’s still time to maximize major tax benefits.

Kiplinger

Coalition 'cannot be taken seriously' on tax, PM claims

The prime minister says the federal opposition cannot be taken seriously after agreeing to back in stage three tax cut changes following earlier criticism.

AAP

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The Guardian - AU

Peter Dutton said Labor’s tax changes would bring down the government – now he’s voting for them

Labor has wedged the Coalition so successfully that Dutton will vote for the breach of promise he said would end Anthony Albanese

The Guardian - AU

Stage-three tax cuts: Labor’s changes to pass parliament with Coalition support

Peter Dutton says opposition won’t stand in the way of Labor plan, but Greens still in negotiations over $359bn package

The Guardian - AU

Littleproud says planned renewables rollout ‘pure insanity’; RBA governor quizzed – as it happened

All the day’s news as it unfolded

AAP

Church bells and protest chants as parliament returns

A church service offered a moment of quiet as federal politicians returned for 2024, before protests and tax debate brought sound and fury back to Canberra.

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AAP

Tax cuts all but assured as coalition backs changes

Households struggling with living costs can breathe a sigh of relief, with the coalition agreeing to back Anthony Albanese's reworked tax cuts.

The Guardian - AU

China’s ambassador to Australia summoned over Yang Hengjun suspended death sentence – as it happened

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AAP

Almost two in three voters back tax changes, poll shows

Almost two in three voters back changes to tax cuts, but the ongoing debate hasn't made much difference to the popularity contest between the two major parties.

AAP

'We'll see': Albanese throws down gauntlet on tax cuts

Prime Minister Anthony Albanese is putting pressure on the coalition to back Labor's stage 3 tax cut changes, as federal parliament returns for the new year.

The Guardian - AU

If Peter Dutton’s opposition are true defenders of the working class, support for Labor’s stage-three overhaul may be their ultimate test

Dutton warned messing with the stage-three tax cuts would end Albanese’s prime ministership. But the alternative has the opposition leader on the back foot

AAP

Dutton signals support for Labor's changes to tax cuts

Australians in need of greater assistance are soon expected to get some relief, with signs the coalition is unlikely to oppose reworked tax cuts.

The Guardian - UK

Starmer says Labour would level up workers’ rights in way not attempted for decades – as it happened

Labour leader tells conference that reforms ‘may not please everyone in room’

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