Existing property investors likely to avoid more tax under possible CGT changes in Chalmers’ May budget

30 April 2026 at 01:25

Treasurer tells Commonwealth Bank podcast that he aims to ‘recognise the decisions that people have taken in the past’

Existing property investors look set to avoid paying more tax under Labor’s mooted changes to CGT in next month’s budget, after Jim Chalmers said he wanted to “make sure that we recognise the decisions that people have taken in the past” and flagged any reforms would not generate “a huge amount of revenue”.

The treasurer is widely expected to modify the flat 50% tax discount on profits from the sale of assets held for more than one year, potentially returning to the pre-1999 model where capital gains are adjusted for inflation.

The Guardian World news

Inflation jumps to 4.6% in Australia as Iran war fuel shock begins to bite

By: Patrick Commins Economics editor

29 April 2026 at 02:32

Financial markets are betting the Reserve Bank will hike interest rates for a third straight meeting next Tuesday

Inflation jumped to 4.6% in the year to March, from 3.7% the month before, in what the treasurer, Jim Chalmers, warned was the start of an Iran war-linked fuel shock that will ripple through the economy over coming months.

With consumer prices now growing at their fastest pace in two-and-a-half years, financial markets are betting the Reserve Bank will hike interest rates for a third straight meeting next Tuesday as officials struggle to manage the nightmare scenario of containing inflation even as growth is expected to slow sharply.

The Guardian World news

Feeling gloomy about the economy? The ‘vibecession’ has arrived in Australia – but experts are less worried

By: Patrick Commins

24 April 2026 at 08:12

A poll shows most Australians think the country is either in a recession or will be soon. Economists have a different view

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Australian households were already on edge before the bombs started falling in Iran.

The cost of living was high and inflation was accelerating again, forcing the Reserve Bank to start ratcheting up interest rates.

The Guardian World news

Takeaway coffee sales plunge as fuel and living costs dent Australian spending. Is the economy next?

By: Jonathan Barrett and Patrick Commins

22 April 2026 at 00:00

The trend has been accelerated by the US-Israel war on Iran, leaving households – and cafe owners – glum, surveys suggest

For many coffee drinkers, takeaway orders are changing from a habitual purchase to an occasional treat, as elevated petrol prices and other living costs leave households feeling glum.

This rapid shift in behaviour has disappointed cafe owners and surprised economists, raising an uneasy question: if takeaway coffee sales are falling, is the economy next?