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Latest news: State Budget and Tax

Cyclone's blow to budget as food, building costs hit

Cyclone's blow to budget as food, building costs hit

The full impact of the destruction wrought by Cyclone Alfred is being assessed, with grocery and construction prices under pressure.

Feds accept GST recommendation despite state pressure

Feds accept GST recommendation despite state pressure

Feds accept GST recommendation despite state pressure

Feds accept GST recommendation despite state pressure

A controversial GST carve-up will go ahead as a federal minister says his government will not overrule an independent body's recommended funding for states.

Sunshine State dark as mining boom costs GST billions

Sunshine State dark as mining boom costs GST billions

Sunshine State dark as mining boom costs GST billions

Sunshine State dark as mining boom costs GST billions

One state has gone backwards in the latest recommended GST revenue carve-up with billions of dollars flowing to another as its population booms.

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US budget deficit hits record $US1.147 trillion

US budget deficit hits record $US1.147 trillion

The Treasury Department reports the US deficit in February rose $US11 billion from the same month in 2024.

Labor set for budget boost thanks to higher tax take

Labor set for budget boost thanks to higher tax take

Australia's bottom line will be $11 billion better off, if the government releases a budget before the election, a leading economist predicts.

Calls grow to banish 'anti-democratic' bracket creep

Calls grow to banish 'anti-democratic' bracket creep

Economists have backed a teal proposal to index income tax thresholds to end bracket creep, which is placing an increased burden on working Australians.

State-owned sales on the cards to pay down Liberal debt

State-owned sales on the cards to pay down Liberal debt

The sale of public-owned entities to reduce increasing budget debt is on the cards for a cash-strapped state government.

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Public service hiring freeze in DOGE-like cost move

Public service hiring freeze in DOGE-like cost move

Public service hiring freeze in DOGE-like cost move

Public service hiring freeze in DOGE-like cost move

One state government wants to join a growing list of states and nations to cut down on public service spending with a hiring freeze.

Public service jobs face axe in fresh bid to fix budget

Public service jobs face axe in fresh bid to fix budget

Public service jobs face axe in fresh bid to fix budget

Public service jobs face axe in fresh bid to fix budget

Up to 3000 public service jobs are set to be slashed as a state seeks to burst its ballooning wage bill ahead of the budget.

Credit rating outlook downgrade rests in state's hands

Credit rating outlook downgrade rests in state's hands

Credit rating outlook downgrade rests in state's hands

Credit rating outlook downgrade rests in state's hands

A state government can fix a credit rating outlook downgrade in its first budget after an international agency identified "significant fiscal deterioration".

State at war with watchdog over $11.7b budget blowout

State at war with watchdog over $11.7b budget blowout

State at war with watchdog over $11.7b budget blowout

State at war with watchdog over $11.7b budget blowout

The Victorian government is questioning the integrity of the financial watchdog in a bid to dismiss billions of dollars in updated major project cost figures.

Call to bring back inheritance tax to tackle wealth gap

Call to bring back inheritance tax to tackle wealth gap

Call to bring back inheritance tax to tackle wealth gap

Call to bring back inheritance tax to tackle wealth gap

Inheritance taxes are economically efficient and reduce inequality between those who work for an income and those who earn income from wealth, economists say.

Ex-Liberal spared conviction on personal tax offences

Ex-Liberal spared conviction on personal tax offences

Ex-Liberal spared conviction on personal tax offences

Ex-Liberal spared conviction on personal tax offences

Former Tasmanian MP Adam Brooks has been spared a conviction on personal tax offences, while a company he directed was fined $5000 for failing to file returns.

Ballooning capital works blamed for budget blowout

Ballooning capital works blamed for budget blowout

Ballooning capital works blamed for budget blowout

Ballooning capital works blamed for budget blowout

A state will be in the red for some years as its government flags swelling infrastructure costs, as the opposition warns of the risk of potential spending cuts.

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Budget blues in the most populous state as rates weigh

Government finances are wobbling in Australia's most populous state as stubbornly high interest rates weigh on home building and consumer spending.

Hikes in house prices boost state's budget surplus

South Australia is going to have a budget surplus $107 million higher than initially expected, in part thanks to the hot housing market.

Taxpayers slugged as state's deficit rises to $1.4b

The Victorian government's $1.4 billion deficit in the mid-year budget update has forced it to dip its hand into taxpayers' pockets to fund critical services.

Red tape cut for business but taxes stuck fast

One state could become the least-regulated in Australia under a plan to slash watchdogs in half and potentially save businesses half-a-billion dollars.

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Potential credit rating drop keeps government dangling

Project cost blowouts and extra government spending could put too much pressure on a state's budget for it to retain its longstanding AA+ credit rating.

Hint of consumer recovery to keep RBA focused on prices

Australia's retail sales enjoyed a boost from an early start to Black Friday discounting and recovering bank balances following tax cuts.

Higher hospital fees to drive up premiums: insurers

Nearly four million health insurance premiums could increase after large health funds opted to pay higher hospital fees under threat of higher taxes.

Department defends advice on bungled Commonwealth Games

A government agency has defended its advice to the Victorian government in the lead-up to the abandoned Commonwealth Games, despite a damning report.

Financial watchdog warns of structural budget problems

Almost one of every $10 raised by the Victorian government is set to be spent paying down debt within four years as interest expenses explode.

'Be brave': new push to save tax reform from extinction

Teal MP Allegra Spender has a bold vision to bring tax reform back on the agenda after 25 years of inaction, widening inequality and falling home ownership.

Warning as workers thrown off revamped compo scheme

The Victorian government has been accused of kicking workers off the state's revamped compensation scheme to raid it for profits.

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