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The Latest Breaking News from Jim Chalmers

Greens-Coalition alliance may force Chalmers to keep power to overrule RBA on rates

Chalmers had announced plans to scrap the veto power but former treasurers and RBA governors say it is a vital ‘safety valve’

The Guardian - AU

Former governors and treasurers advise against removing government’s power to overrule RBA

Critics of treasurer Jim Chalmers’ proposed reforms say the Reserve Bank is independent enough

The Guardian - AU

Australia, NZ hold trans-Tasman treasurer talks

Australian Treasurer Jim Chalmers has met with his New Zealand counterpart, Finance Minister Nicola Willis, in Sydney.

AAP

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Australia records 4.2% annual wage growth, outstripping inflation for the first time in three years

Treasurer says highest annual growth since 2009 ‘encouraging’ but expresses concern over non-compete clauses for employees

The Guardian - AU

Property investors won't lose tax deductions: Treasurer

Treasurer Jim Chalmers says property investors will continue to enjoy their tax breaks, while ruling out the prospect of changes to negative gearing.

AAP

Low income earners to benefit from Medicare levy change

The minimum income threshold at which taxpayers incur a two per cent Medicare levy will be lifted under laws before the federal parliament.

AAP

'We'll see': Albanese throws down gauntlet on tax cuts

Prime Minister Anthony Albanese is putting pressure on the coalition to back Labor's stage 3 tax cut changes, as federal parliament returns for the new year.

AAP

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Afternoon Update: expert finds no evidence of ‘gas the Jews’ chant at rally; two killed by Sydney freight train; and Amazon profits surge

Examination finds with ‘overwhelming certainty’ that the words used at march near Sydney Opera House were ‘where’s the Jews?’, police say

The Guardian - AU

Dutton signals support for Labor's changes to tax cuts

Australians in need of greater assistance are soon expected to get some relief, with signs the coalition is unlikely to oppose reworked tax cuts.

AAP

$1m donation helped silence the Voice

The No campaign for the Voice to Parliament got a $1 million boost from a 94-year-old retired car dealer magnate in WA, and Victoria’s Liberal leader John Pesutto will argue ousted MP Moira Deeming who’s suing him for defamation had in fact damaged her own reputation.

Crikey

Jim Chalmers hints Labor will never abolish 37% tax bracket as planned under stage-three cuts

The treasurer indicates the government is unlikely to revive the Coalition’s plan even when economic circumstances improve

The Guardian - AU

Tax talk turns negative as Labor gears for relief

Changes to tax cuts that increase the returns of lower to middle-income earners have spurred speculation about whether negative gearing changes are next.

AAP

Morning Mail: Jim Chalmers fires tax salvo, Georgie Purcell speaks out, Mark Zuckerberg’s apology

Treasurer say Coalition idea would ‘smash the budget’ with $40bn hit; Victorian MP vows to ‘keep fighting’ for women and animal rights

The Guardian - AU

Prices ease but insurance and housing are still biting

Consumer price growth is coming off the boil but some key essential goods and services are still painfully elevated.

AAP

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The Guardian - AU

Jim Chalmers warns restoring tax cuts to high earners would ‘smash’ budget by almost $40bn

Treasurer’s data estimates reimposing old stage-three cuts while retaining Labor’s plan for low and middle earners would cost $39bn over four years

The Guardian - AU

David Littleproud accuses Labor of ‘class warfare’ over stage-three tax changes, saying $190,000 is ‘not a lot’

Nationals leader says tax cuts were about ‘giving everyone a fair go’ and Labor is ‘pitting one Australian against the other’

Crikey

Bracket creep is no reason to bag out Albo’s stage three tax pivot

Conservative critics of Labor’s stage three tax cuts amendments often centre on one thing: bracket creep. But does that argument hold water?

AAP

Changing of the guard at Future Fund puts Combet at top

Former ACTU leader and Labor minister Greg Combet is the new chair of Australia's sovereign wealth fund, replacing Liberal stalwart Peter Costello.

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Newcastle Herald

Letters: why not fold maritime into new gallery?

Letters to the editor

The Guardian - AU

Pocock wants to boost Centrelink payments using savings from stage-three tax cuts overhaul

Key senator calls for broader tax reform, while arguing changes to stage-three plan could fund increases to jobseeker and other payments

The Guardian - AU

Anthony Albanese announces year-long investigation into supermarket prices by ACCC

Prime minister says treasurer Jim Chalmers will direct competition watchdog to conduct 12-month price inquiry into supermarkets

The Guardian - AU

Treasury estimated stage-three tax cut changes would add 0.1 percentage point to inflation

RBA hasn’t modelled whether Albanese government’s redistribution of tax cuts could add to inflation, but isn’t expected to adjust its forecasts

The Guardian - AU

Sussan Ley retreats from comments suggesting Coalition would repeal Labor’s stage-three tax cut changes

Deputy opposition leader denies promising to roll back Albanese government’s changes and says Labor ‘lied’ about the tax cuts

The Guardian - AU

Queensland residents brace for cyclone – as it happened

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The Guardian - AU

Greens warn Labor stage-three tax cuts will add to inflation and bring little relief for most workers

Party releases Parliamentary Budget Office estimates that the plan will cost $323.6bn over a decade

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