Tax

The rise of One Nation is partly behind the government's decision to take on tax reform in this year's budget, the prime minister has admitted.

ASIC tells Senate estimates it has eight active contracts with KPMG, despite the company facing an audit scandal. Meanwhile, the ASX lost ground. Catch up on the day's events and insights in our live markets blog.

This week the Albanese government was under pressure on multiple fronts, Senate Estimates got a little sweary and Tony Abbott said he hadn't taken a "vow of silence". 

South Australian Treasurer Tom Koutsantonis has unveiled the 2026-27 state budget. Here are the winners and losers. 

While the party has indicated it is willing to help Labor pass the tax laws — which includes changes to negative gearing, capital gains tax (CGT) discount, trusts and the $250 tax offset — by early July, the Greens hold concerns about specifics in the bill.

The experimental estimates are based on "nicotine metabolite concentrations" detected in wastewater samples, combined with data showing a collapse in spending on legal cigarettes and vapes.

Before the federal budget, the housing market was already starting to choke on its own excesses. Now some economists are tipping an extended period where home prices grow no faster than general inflation.

The Australian Taxation Office (ATO) is warning Australians to stop claiming private expenses on their tax returns. The agency gives its tax-time tips, including the dos and don'ts of claiming work-related expenses and investment losses. 

Australia now has 178 billionaires who collectively hold more than $686 billion in wealth, sparking debate about the advantages and disadvantages of the growing number of ultra-wealthy.

Why has Labor decided to spend the political capital of a large majority on a minor change to capital gains tax on businesses? 

The housing minister says the federal budget will have only a "mild" impact on house prices, and if predictions bear out that house prices may drop by 10 per cent, that won't be due to the government's tax changes.

The managing director of Taylors Wines in South Australia is considering leaving the country in response to the federal government's proposed tax changes. 

Auction clearance rates have fallen to levels not seen since the 2022 housing downturn. The ASX closed up 1.6 per cent on hopes of a Middle East peace deal. 

Commonwealth Treasury secretary Jenny Wilkinson says the average top income earner benefited from the existing investment tax arrangements to the tune of $700,000 over their lifetime, versus around $10,000 for median income earners. 

Small business owners are urging Labor to rethink more than just the eligibility thresholds for capital gains tax concessions.

This week a few people got a grilling at Senate estimates, the tax debate heated up and whispers of a new centre-right party fluttered through the press gallery.

Treasurer Jim Chalmers introduced the bill to parliament on Thursday, which the government hopes to pass before the winter recess.

Reserve Bank research shows property investment has become skewed towards higher-income households and is dominated by baby boomers.

Prime Minister Anthony Albanese has suggested Opposition Leader Angus Taylor swore at him in Question Time. Take a look back at the day's coverage.

Another sector has called for a capital gains tax change carve-out, warning the government that it will face a talent drain without it.