Stories from Canberra · Australia

Unconfirmed reports suggest Australian Treasurer Jim Chalmers intends to abolish negative gearing, a move potentially worth 5 billion dollars annually.

Prime Minister Anthony Albanese announced a plan to fast-track project approvals by granting states the power to conduct assessments and approvals on behalf of the Commonwealth. The plan includes the implementation of a new set of national environmental standards.

The Australian government is providing cost of living help through several measures to address economic uncertainty. These actions include cutting the fuel excise and providing additional tax cuts. A standard deduction is being implemented to provide further tax relief. The government is also working to make medicines cheaper and increase bulk billing accessibility. These steps aim to support citizens facing global volatility and unpredictability. Australia has reduced the heavy vehicle road user charge to zero and halved the excise on fuel to help alleviate cost of living pressures. These measures are intended to support businesses and consumers facing rising costs.

New polling released on Wednesday shows Pauline Hanson has a 52% approval rating for her leadership of One Nation. This approval rate is higher than the current approval ratings for Prime Minister Anthony Albanese and Angus Taylor.

The government has prioritized investments into frontline services including aged care, health, and hospitals. This funding is intended to improve the budget while supporting critical areas valued by Australians.

The National Disability Insurance Scheme (NDIS) program costs are now projected to reach approximately $50 billion, with projections extending into the 2060s. This is a increase from the original $15 billion design mentioned last month.

Shadow Treasurer Tim Wilson criticized Treasurer Jim Chalmers, alleging that government spending is driving inflation.

Independent Senator David Pocock stated the Australian government is favoring foreign companies over Australian citizens by rejecting a proposed gas export tax. He also noted a premium could be placed on company tax to target super profits. Prime Minister Anthony Albanese ruled out new taxes on existing gas contracts during a speech to the Western Australia resources sector. Albanese also stated that super profits do not exist, addressing speculation that the Labor government would pursue changes in next month's federal budget. The announcement clarifies the government's position ahead of the upcoming budget release. The Prime Minister noted Australia's reliance on Asian partners for fuel security and their corresponding reliance on Australian exports. He indicated that future changes or adjustments to tax settings remain a possibility.

Access Canberra officers, ACT policing, and the Therapeutic Goods Administration conducted inspections at six retail outlets across Canberra. The raids identified six persons of interest with known links to the illicit tobacco trade. Authorities seized $27,000 in cash and 6,000 cigars during the operation.

The Australian government unveiled a new draft legislation yesterday aimed at reforming the bargaining code. Meta, the parent company of Facebook and Instagram, claims the proposed incentive will not result in a sustainable or innovative news sector.