7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Addressing cost-of-living pressures was at the forefront of everyone’s minds leading into the federal budget, as households neared the top of their financial limit. Treasurer Jim Chalmers handed down his third budget on Tuesday night, describing it as a budget that helped struggling Australians while investing in the country’s future. Cost-of-living relief and inflation were the hot topics, as the government promised measures to ease pressures while spending with restraint.
In another win, the $20,000 instant asset write-off is being extended, meaning small businesses that turn over less than $10 million annually can immediately deduct eligible assets costing less than $20,000 until June 30, 2025. Businesses will also benefit from the government abolishing 457 nuisance tariffs that will simplify the country’s trade system and cut compliance costs. A further $10.
Politics Budget Politics Federal Politics Business Finance Politics
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Budget 2024: Jim Chalmers’ budget could be make or break for LaborJim Chalmers is gearing up for his third and most important budget so far. If he spends too much and stokes inflation, he knows he’ll own the next rate increase.
Read more »
Federal budget 2024 live updates: Jim Chalmers to deliver Australia budget speechEnergy bill rebate and rent assistance boost confirmed ahead of speech. Follow live updates
Read more »
Budget 2024: Critical mineral miners hope for budget tax creditsLithium and nickel miners who lobbied for tax breaks are set to be among the big budget winners as the Albanese government tries to shore up its ‘made in Australia’ plans.
Read more »
Budget 2024: The one standout success metric for the budgetMore investment is required to drive productivity. We won’t get this without cutting red tape and making the things more business-friendly.
Read more »
Budget 2024: Markets stick with RBA rate rise bet despite Jim Chalmers’ ‘optimistic’ budget forecastsBond markets are continuing to bet that the RBA will have to lift rates this year, despite new government forecasts predicting inflation will fall faster than the central bank expects.
Read more »
Budget 2024: Australia’s ‘dumb’ budget luck in one extraordinary chartTreasurers have been extremely lucky to receive big tax revenue windfalls from the China-driven mining boom, but none have been as lucky as Jim Chalmers.
Read more »