Tax

The Teal independent says the government must urgently address the demographic challenges facing Australia’s tax system, following the release of her tax white paper.

Prime Minister Anthony Albanese has announced the government will cut the fuel excise by half until 30 June and reduce the heavy vehicle road user charge to zero for three months.

The government should conduct a thorough review of the overall tax arrangements for all vehicles before rushing to implement yet another tax on consumers, The Tax Institute has cautioned.

Fatima Payman has said the government should introduce changes to the CGT discount and negative gearing now, rather than delay potential reform.

Crossbench senators have doubled down on their calls for a new tax on windfall gas profits as conflict in the Middle East threatens Australia’s energy security.

The BCA has called on policymakers to cut red tape and reform business tax settings as inflation and geopolitical risks threaten economic growth.

The scale of the proposed reforms to the R&D tax incentive means they may be difficult to legislate and challenging to administer in practice, according to the mid-tier firm.

This year's federal budget will be centred on three major reform packages on tax, savings, productivity and investment, says Jim Chalmers.

A $175b refund pool has been created after the White House’s loss at the US Supreme Court in February, which invalidated drug and reciprocal tariffs.

Recommendations from the review into Australia’s research and development settings “provide a clear pathway for boosting business investment in research and development”, according to the Business Council of Australia.