Labor was able to hand down two consecutive budget surpluses in its current term. But the most recent federal budget shows a return to deficit this financial year. After the deficit peaks – at 1.5% ...

Two 1 per cent tax cuts will form the core of the Albanese government’s offer to voters as it chases a second term in office.

The relief is going up for two years in a row, adding up to $536, as income tax rates are reduced from 2026 and 2027 for Australians in part-time work. From 1 July 2026, the 16 per cent tax rate ...

The opposition leader produced the indexation idea, out of the blue, in an interview with The Australian, saying: “I want to ...

Opposition Leader Peter Dutton has vowed to reform the tax system through changes to personal income tax should the Coalition ...

The stance came despite the opposition leader saying in an interview published in The Australian that he aspired to change income tax “quickly… because bracket creep, as we know, is a killer ...

While tax rates have remained the same, ranging from 10% to 37% depending on an individual’s total taxable income, the IRS has announced new brackets with adjusted thresholds for tax year 2024.