Category Archives: Tax

Morrison and Abbott praise Trump – as it happened

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There was some seriously colourful language in Senate estimates yesterday, but in this case the media regulator found radio hosts’ words were a step too far. Sarah Martin reports on what the Greens senator Sarah Hanson-Young described as “revolting, sexist, racist, misogynistic, divisive stuff”:

A “dangerous anti-abortion bill” before the Senate should be withdrawn, if the opposition leader, Peter Dutton, wants credibility on women’s healthcare, the minister for women, Katy Gallagher, says.

It is typical of Peter Dutton to view this purely as a matter of winning or losing votes, rather than any genuine commitment to women’s healthcare.

If Peter Dutton wants any credibility on women’s healthcare, he must immediately ensure Senators [Matt] Canavan and [Alex] Antic withdraw their dangerous anti-abortion bill currently before the Senate.

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Australia politics live: Albanese tells caucus Labor will campaign on ‘risk’ of Dutton; Miles returns as Queensland Labor leader

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‘We need to extend the average time people stay in our defence force,’ says Matt Keough

The defence personnel minister, Matt Keough, has also been talking about that retention and renumeration package for defence.

We need to extend the average time people stay in our defence force.

That does mean it had a vulnerability. We’re looking at moving to more of a mesh-type arrangement of satellites, which provides greater resilience, with a more up-to-date technology, and we’ll be able to deliver the technology faster as well.

We are very much confident that we can meet these targets and that’s because we have properly funded them and we have a plan to get there, which is about really improving the terms of service for those who work in our defence forces.

We’re increasing and expanding the bonuses for continuing on in the defence force. We’re continuing the original retention bonus after your initial service obligation for three years and beyond that. There will be another bonus for people who stay in the defence force after that. And that’s really targeting those who are in their seventh, eighth, ninth years of service, which gets to the middle ranks where we’ve got an issue. And we’re also going to grow the active reserves so there are more opportunities for people in the reserve to do full-time or part-time work in the defence force.

This original plan goes back seven or eight years and it was about having two or three satellites above Australia to deliver that capability. Since then, we have seen technologies develop which can shoot satellites out of the sky but we have also seen technologies develop where you have thousands of micro satellites in a more distributed way providing the same effect and we are seeing that with Starlink above Ukraine.

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King and Prince William’s estates ‘making millions from charities and public services’

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Duchies of Cornwall and Lancaster likely to make at least £50m from leasing land to services such as NHS and schools, according to investigation

King Charles and Prince William’s property empires are taking millions of pounds from cash-strapped charities and public services including the NHS, state schools and prisons, according to a new investigation.

The reports claim the Duchies of Lancaster and Cornwall, which are exempt from business taxes and used to fund the royals’ lifestyles and philanthropic work, are set to make at least £50m from leasing land to public services. The two duchies hold a total of more than 5,400 leases.

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Australia news live: PwC reveals it sacked eight staff over data breaches; Perth man dies after being taken to police watch house

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Court to rule in Pauline Hanson-Mehreen Faruqi case

A federal court judge is ready to rule on whether Pauline Hanson made a racial slur when she told Greens senator Mehreen Faruqi to go back to Pakistan.

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Qantas and Virgin among 1,200 major companies that paid no income tax in Australia in 2022-23

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ATO finds 31% of large businesses reported nil tax paid as many companies deducted losses and used offsets to dial their bills down to zero

A major streaming service, media outlets, big airlines and a pizza chain are among more than 1,200 large companies that paid no income tax in 2022-23, a new ATO report reveals, as many businesses deducted losses and used offsets to dial their tax bills down to zero.

Netflix’s Australian operations generated more than $1.15bn in income in the 2023 financial year, documents show, but had no tax payable.

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Reeves’s long-term spending figures almost as unrealistic as Tories’ were, IFS says – UK politics live

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Institute for Fiscal Studies says budget ‘looks like the same silly games’ as seen under the Conservatives

Rachel Reeves is now being interview on ITV’s Good Morning Britain.

She is being interviewed by Ed Balls, the former Labour shadow chancellor who is now a TV presenter. He asks her to confirm that workers will end up losing out because of the employers’ national insurance contributions (NICs) increase.

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Ed Davey: care sector will be ‘pushed to brink’ by national insurance hike and should be exempt

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Lib Dem leader says rise in employer’s contribution risks worsening NHS crisis

The Liberal Democrats have called on the government to exempt the social care sector from the increase in national insurance in Labour’s budget, as an organisation representing many smaller care providers warned that the impact would be substantial.

In the biggest fiscal measures of Wednesday’s budget, raising an additional £25bn a year by the end of the parliament, Rachel Reeves announced an increase of 1.2 percentage points on the national insurance paid by employers, with the salary threshold at which this begins falling from £9,100 a year to £5,000.

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Reeves accused of betraying small family firms with inheritance tax rises

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Chancellor also criticised for letting the very rich off the hook with a lower than expected rise in capital gains tax

Tax rises aimed at inherited wealth are at risk of backfiring, after the chancellor was accused of betraying small family businesses while letting private equity bosses off the hook.

Labour’s first budget in 14 years included measures to close inheritance tax (IHT) loopholes and press ahead with scrapping the controversial non-dom tax status, as well as levying higher taxes on private jet flights.

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Attorney general considering releasing full robodebt report – As it happened

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Mark Butler flags importance of an Australian CDC in future pandemic responses

The federal health minister, Mark Butler, spoke to ABC News Breakfast this morning, after the Covid inquiry report was released yesterday.

Currently, we’re the only developed country that doesn’t have that single authoritative body that can provide to governments and communities about an evidence-based approach to pandemic response and to other communicable diseases. So that is the foundation on which we build a system to respond to the next pandemic - because there will be a next one – much more effectively than we did to Covid.

We all remember just how incredibly difficult and challenging it was, how it affected every aspect of our lives. And in terms of how the government worked during that period of time – we worked with those public health experts and advisers. Our focus was very much on the health and wellbeing of our community, particularly the vulnerable members of our community who were most at risk.

This was a deadly disease. We saw, particularly overseas, it killed so many people. So we were focused on a public health response – a public health response that was focused on supporting the health of our community, and also too understanding the significant additional supports that we needed to provide to small businesses to support them during this incredibly difficult time.

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Australia news live: PM to announce clean energy projects; property market losing heat but prices still going up

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Anthony Albanese to launch schemes in NSW and Victoria today; Domain says rate of price increases is cooling. Follow today’s news headlines live

Bowen derides Coalition’s ‘nuclear fantasy’

Chris Bowen, minister for climate change and energy, is speaking on ABC Radio National this morning.

If I was the energy minister of another country, I would consider the opportunities that I had in that country – but a country saying to Australia, with our excellent renewable resources, that we should go down the nuclear road when we have no nuclear industry, no nuclear expertise of the scale that we would need for a nuclear power industry, is like us going to Finland or Scandinavia and saying, ‘Listen, we know [you have] a lot of snow, but you should really try beach surfing.’ It just doesn’t make any sense.

We have to play to our strengths in Australia, and we have the best renewable resources in the world, and the opposition wants to stop us using them, and in turn, keep coal in the system for longer. They’re quite explicit about that while we wait for this nuclear fantasy to come on board. That would be terrible for emissions and fatal for energy reliability.

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London’s Aim shrinks to smallest since 2001 amid fears of tax relief changes

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UHY Hacker Young says 92 companies have delisted and only 10 floated on junior stock market in past year

The UK’s Alternative Investment Market (Aim) has shrunk to its smallest size in 23 years as business owners and investors anticipate an abolition of inheritance tax relief in the budget this week.

The accountancy group UHY Hacker Young calculated that 92 companies have delisted from Aim, London’s junior stock market, in the past year, reducing the total number of companies on Aim to 695.

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Reeves: ‘My budget will match greatest economic moments in Labour history’

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The chancellor says she will invest to reverse Tory decline, but stands accused of breaking party manifesto promises

Labour will launch a new era of public and private investment in hospitals, schools, transport and energy as momentous as any in the party’s history in this week’s budget, the chancellor, Rachel Reeves, has said.

In an interview with the Observer before the first budget by a female chancellor, Reeves draws comparisons with Labour’s historic reform programmes begun in 1945 by Clement Attlee, in 1964 under Harold Wilson and in 1997 under Tony Blair.

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Rachel Reeves has promised not to raise taxes, so how can she fill budget coffers?

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Chancellor said to be planning measures including raising employer NI contributions and capital gains tax rates. We consider the likelihood of each and the potential for a row

During the general election campaign, Paul Johnson of the Institute for Fiscal studies repeatedly accused both main parties of indulging in a “conspiracy of silence” over their economic policies. Neither Labour nor the Tories would admit, he complained, that if they won they would have to announce huge tax rises or spending cuts to restore the public finances to anything resembling good health.

On Wednesday, 118 days after Labour won the election, Rachel Reeves will prove Johnson right. In her first budget she will spell out plans to raise an eye-watering sum of about £40bn from tax rises and spending reductions to wipe the slate clean and to pump funds into public services. She will also confirm changes to debt rules that will release up to £50bn more to borrow for long-term investment in new national infrastructure.

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WiseTech shares surge after CEO stands down – as it happened

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Dutton and Shorten weigh in on Queensland state election

The federal opposition leader, Peter Dutton, and the NDIS minister, Bill Shorten, both spoke with the Today show earlier from Queensland, before the election.

He’s focused on the issues which affect Queenslanders: housing, health, cheaper transport and of course tackling youth crime. So we’ll find out soon enough who’s going to win.

The fact is that it’s time for a change in Queensland and law and order is out of control.

Well, yes, he did. He did three days ago and, despite that, the government’s scare campaign continues.

The scare campaign on a sensitive issue that has been run, quite frankly, crosses the line, and we’re better than that as Queenslanders … There won’t be changes to abortion laws and Queenslanders need to know that.

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Albanese rejects China’s claim that Australia plagued by ‘systemic racism’ – as it happened

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The Rail, Tram and Bus Union of NSW (RTBU) conducted a five-minute work stoppage early this morning, which is leading to delays across the network.

Sydney Trains says this has led to minor delays and “larger than normal gaps in services may be experienced”, according to an alert:

Trains stops and platforms may change at short notice and some trains may be cancelled. Extra travel time may be experienced in some cases and you may need to change to continue your trip.

The action was set to happen in select locations across the network to ensure we could ramp up stoppages whenever needed.

The rail agencies continue to bargain in good faith with the Combined Rail Unions for a new enterprise bargaining agreement. Sydney Trains are working to minimise the disruption to commuters as much as possible.

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Thorpe rebuffs Indigenous leaders’ criticism of protest – as it happened

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More on news media bargaining code and funding of media publishers

One of the committee’s key recommendations was a digital platform levy on companies like Meta and Google, which some have described as a tech tax to fund public interest journalism.

So in parts of Europe, for example, there’s a 2% digital services tax. You could look at a public interest journalism levy.

The issue that we have fundamentally here is the … offshoring of the digital platform’s profits, where currently they pay very little tax because they argue that they don’t operate in Australia, even though they’re getting this enormous profit yield of the advertising on their platforms. So that’s another thing that has to be resolved within legislation in order to impose a tax.

But simply imposing a tax and feeding [it] into media organisations … won’t fix the issue if Meta continues to deprecate news content – that is, reduce the exposure of news content to its consumers.

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Thousands greet royals at opera house – as it happened

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The opposition leader, Peter Dutton, has been speaking with ABC RN about a range of issues – including Lidia Thorpe’s actions at King Charles’ parliamentary reception yesterday.

Dutton argued that “sometimes people make it all about themselves, and I think that’s what yesterday was.” He said it “didn’t advance anyone’s cause” and “add[s] to the self promotion … that she seeks.”

The vast majority of people have been very welcoming the king’s visit, and I think it’s been an opportunity to underscore the stability in our democracy, our rule of law, separation of powers, all of those institutions that we inherited from our British heritage.

That’s part of the success story of our country, and it’s a good reminder during his visit [that] if we change it, I think we want to be very careful about the system we’re changing to and whether or not we would be a safer, more secure, community and environment for decades to come or not.

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Big business calls for $10bn housing reform fund to reward Australian states that streamline supply

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Business Council of Australia also recommends phasing out stamp duty and fast-tracking migrant workers for building industry

The nation’s peak business body has called for a $10bn housing reform fund that will pay out to states that fix the regulation and planning bottlenecks contributing to the supply crisis.

The Business Council of Australia is also pushing for the nation-wide removal of stamp duty on homes, warning that it disincentivises people from moving to smaller dwellings and freeing up larger homes.

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The ‘active transport’ ideas from around the world that could make Australians healthier and our cities cleaner

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Policies such as cash payouts for bicycle commuters have knock-on effects including reduced pollution and better physical and mental health

It’s time for a major rethink of transport in Australia, experts say – and, while some new ideas may meet resistance, “these are not ideas from radical left Scandinavian pot-smoking greenies”, Prof Matt Burke says.

Policies lumped together as “active transport” include proposals to offer rebates for people who ditch their cars for public transport, or cash payouts for people who cycle to work.

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Rachel Reeves will tax businesses to plug £9bn black hole in NHS

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The chancellor is set to announce a revenue-raising budget designed to reset Britain’s public finances

Rachel Reeves is set to use one of the most pivotal budgets of recent times to call on businesses to pay more tax to help restore the NHS, amid warnings that the health service has been left with a £9bn hole in its finances.

The chancellor is expected to stake her reputation on a tax-­raising budget designed as a reset of the public finances. She has already had to deal with cabinet skirmishes over funding unveiled alongside the statement. However, Reeves is understood to believe that the public will accept a multibillion-pound hike in business taxes if it is linked to repairing the health system’s finances.

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