Ten million Australians will receive a one-off $420 (US$315) tax offset to assist with the ballooning cost of living, while six million welfare recipients will get a $250 cash payment in the 2022-23 federal budget. Treasurer Josh Frydenberg unveiled the details of the anticipated “temporary, targeted, and responsible” cost of living relief package on Tuesday…
Australians to get Tax Cuts and Cash Handouts to Relieve Cost of Living
March 29, 2022
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AustraliaAustralian economyAustralian federal budgetBusiness & Economyeconomyfuel exciseJim Chalmersjosh frydenbergScott Morrisontax reliefWorld
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Australia Investing $17.9 Billion Into Infrastructure in Next Federal Budget
March 28, 2022
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AustraliaAustralian federal budgetBusiness & Economyeconomyfiscal policyJim Chalmersjosh frydenbergScott MorrisonWorld
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The Australian federal government announced a record $17.9 billion (US$13.4 billion) in infrastructure funding for new and existing projects across every jurisdiction in the 2022-23 federal budget. Treasurer Josh Frydenberg said infrastructure is a key pillar of the economic growth plan and get more Australians into work. “With the unemployment rate already at an equal…
Keen to Contest With Liberal on Economy: Labor
Labor is “confident and keen” to challenge the Coalition on its economic record ahead of the federal budget and election, shadow treasurer Jim Chalmers said. In an address to the Australian Industry Group, Chalmers said it was Labor’s goal to build a stronger economy and society compared to before the emergence of the COVID-19 pandemic….
‘Employers Are Looking for You’: PM Encourages Aussies to Go Back to Work
Australian Prime Minister Scott Morrison is encouraging Aussies to “get out there” and “back into this economy” as business recovers and employers look for staff. “There are thousands and thousands and thousands of jobs which employers around the country are now looking to fill as the recovery takes hold,” Morrison told reporters. “I’d encourage Australians…
Australia’s Economic Recovery Is on Track: Treasurer
Australian Treasurer Josh Frydenberg is optimistic about the nation’s strong road to economic recovery. Frydenberg said new Treasury data revealed that insolvencies are 40 percent lower over the past year, job ads are 30 percent higher than the pandemic’s start. At the same time, the unemployment rate is at 4.6 percent. “It’s another proof point…
Labor to Back Coalition Tax Cuts and Negative Gearing Policies
July 27, 2021
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anthony albaneseAustraliaAustralian electionAustralian Labor PartyJim ChalmersNational Liberal Partyproperty council of australiaSimon Birminghamtax policyWorld
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The Australian federal opposition party decided on Monday to drop its previous stance and deliver the same legislated tax cuts as the Coalition after six years of opposition, or two election cycles, to the policies. “The Shadow Cabinet and Caucus have today confirmed that Labor in government would uphold the legislated changes to personal income…
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