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Latest news: Economy, Business and Finance

Green groups warn climate courage missing from budget

Green groups warn climate courage missing from budget

Budget announcements for green industry and nature protection fall short as climate costs mount and opportunities to extract more fossil fuel income go missed.

Business sector urges Canberra to tackle red-tape cuts

Business sector urges Canberra to tackle red-tape cuts

Business sector urges Canberra to tackle red-tape cuts

Business sector urges Canberra to tackle red-tape cuts

A powerful alliance of business groups has given the federal budget a tick but says Labor needs to take bigger steps to rid the sector of costly red tape.

Canberra embraces AI data crunch for medicines to tax

Canberra embraces AI data crunch for medicines to tax

Canberra embraces AI data crunch for medicines to tax

Canberra embraces AI data crunch for medicines to tax

Artificial intelligence tools will be used in unexpected ways by the government, from finding tax-return mistakes to assessing environmental projects.

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Targets and tests firm up for migrants under budget

Targets and tests firm up for migrants under budget

A push for fewer, more skilled migrants and a more robust migration system has been outlined in the 2026/27 federal budget.

Australians move to regions seeking affordable housing

Australians move to regions seeking affordable housing

Australians are leaving the cities for inland areas as growing house prices shift migration patterns, bringing positive and negative flow-on effects.

Bleak outlook for national economy if Iran war drags on

Bleak outlook for national economy if Iran war drags on

Higher budget spending won't help the Reserve Bank, economists warn, as a prolonged war in the Middle East is forecast to push inflation above seven per cent.

Tax relief for workers and pain for investors in budget

Tax relief for workers and pain for investors in budget

Australians who earn a wage will get $250 in tax relief as part of Labor's budget, but investors and wealthy families could be left worse off.

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Pressured media sector boosted by broadcast tax cuts

Pressured media sector boosted by broadcast tax cuts

Pressured media sector boosted by broadcast tax cuts

Pressured media sector boosted by broadcast tax cuts

Television and radio stations will pay lower tax bills for the next two years, while news outlets will get funding increases to navigate a changing industry.

Small beer: revenue from gas export tax set to plummet

Small beer: revenue from gas export tax set to plummet

Small beer: revenue from gas export tax set to plummet

Small beer: revenue from gas export tax set to plummet

The petroleum resource rent tax is projected to raise $1.85 billion less in revenue than the beer excise by 2029/30, heaping pressure on Labor to tweak the tax.

Electric car owners dodge road charge but pay more tax

Electric car owners dodge road charge but pay more tax

Electric car owners dodge road charge but pay more tax

Electric car owners dodge road charge but pay more tax

Electric vehicle drivers will not have to pay an annual fee to use Australia's road network under budget changes but a tax discount will be wound back.

Pacific nations secure more funding for climate and aid

Pacific nations secure more funding for climate and aid

Pacific nations secure more funding for climate and aid

Pacific nations secure more funding for climate and aid

Australia will provide a range of aid measures to neighbours in the Pacific as the region prepares to help host a major climate change summit.

Michelin Guide arrival may boost Australian hospitality

Michelin Guide arrival may boost Australian hospitality

Michelin Guide arrival may boost Australian hospitality

Michelin Guide arrival may boost Australian hospitality

The prestigious Michelin Guide is coming to Australia for the first time, but it will only cover restaurants in one state.

Aussie shares wobble ahead of budget, oil surges again

Aussie shares wobble ahead of budget, oil surges again

Aussie shares wobble ahead of budget, oil surges again

Aussie shares wobble ahead of budget, oil surges again

Deteriorating US-Iran relations and concerns over flagged tax reforms weighed on the local share market, which has fallen in 15 of the past 19 sessions.

Last-minute budget pitch to 'level field' for young

Last-minute budget pitch to 'level field' for young

Last-minute budget pitch to 'level field' for young

Last-minute budget pitch to 'level field' for young

Labor has made a pre-budget pitch to young Australians on social media as the government shakes up the tax system to help more people buy homes.

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'Time has come': Shorten backs budget's broken promise

After unsuccessfully campaigning on negative gearing changes while Labor leader, Bill Shorten says he would welcome a policy shift in the federal budget.

Calls for options in budget to ease pressure on parents

Parents are hoping the federal budget will include more choice, transparency and reform when it comes to child care by providing more subsidy options.

'Need to do more': Labor to lift lid on housing reform

Australians are under financial pressure and the government cannot "just sit back", the prime minister says, as his treasurer prepares to hand down the budget.

Budget boost to tackle growing ranks of homeless youth

Helping homeless young Australians to find a place to live is the aim of a $60 million federal budget measure to even the odds of renting a room.

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Rail project axing pulls 'economic rug' from regions

The Nationals have urged the federal government not to scrap billions of dollars of funding for the inland rail project ahead of the federal budget.

Aussie shares drop as ceasefire frays, CSL plunges

Local shares have slid after Donald Trump called Iran's peace offer "totally unacceptable" and a local biotech company downgraded its earnings guidance.

Gas project model pours cold water on emissions goal

Modelling examining a $48 billion-plus offshore gas proposal has drawn conclusions on the likelihood of a major state reaching a 2050 emissions target.

'Troubling' crackdowns no fix to homelessness crisis

Strained by chronic housing supply challenges, a leading researcher has warned councils against forcibly removing their homeless populations.

Grandfather of Inland Rail won’t let project die

The so‑called grandfather of Inland Rail says the half‑built 'train to nowhere' can still be saved, pitching a private plan to finish the route.

ASX endures worst session since mid-March as $43b wiped

The local bourse closed the week just up after a sharp sell-off on Friday erased several sessions of gains, as fighting reignited between the US and Iran.

'Get back to work': backlash over bureaucrat job freeze

A would-be premier has chided public servants protesting her 10-year hiring freeze plan, insisting it won't lead to sackings or compromise service delivery.

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