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The Latest Breaking News from Jim Chalmers

Debit card surcharges could be scrapped in crackdown

Surcharges on debit card purchases could become a thing of the past by 2026, but some groups are warning the fees could be imposed in other ways.

AAP

Shoppers to no longer pay fees when using debit cards under new Albanese government plan

Treasurer says uncovering ‘unfair’ practices also part of proposed surcharge revamp designed to give consumers better deal and cut small business’s costs

The Guardian - AU

Grattan on Friday: Oil prices could be where the Middle East crisis collides with Australia’s cost-of-living crisis

Angry, accusatory partisan exchanges over the Middle East war have dominated federal politics this week. But for most ordinary voters the issue remains “over there”.

The Conversation

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Global petrol price spike due to Middle East conflict to hit Australian motorists, Jim Chalmers warns

‘Rule of thumb’ is Australia’s inflation rises 0.4% when a 10% increase to crude oil price lasts a year

The Guardian - AU

More pain at the petrol pump as oil prices spike

Conflict in the Middle East is having a flow-on effect for Australian fuel prices but petrol stations have been cautioned not to take motorists for a ride.

AAP

New merger laws to shelve 'damaging' supermarket deals

The competition watchdog will have to be notified of every supermarket merger to prevent major players from gaining an unfair advantage.

AAP

Failure to launch: why the Albanese government is in trouble

It wasn’t meant to be like this.

The Conversation

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IMF backs RBA not cutting interest rates and says phasing out tax breaks for property investors would be ‘equitable’

‘The RBA’s decision to maintain its restrictive policy stance in the near-term is appropriate,’ fund says in latest assessment report

The Guardian - AU

Australia may miss billions in green Chinese investment

Chinese investment in Australia has fallen, despite the nation's growing budget for renewable energy projects in the transition to net zero emissions by 2050.

AAP

More than 430,000 Australians could have owned their own home today – if not for 7 prime ministers’ inaction

Thirteen years ago at the tax summit called to discuss the Henry Tax Review, David Koch stopped discussion of negative gearing dead in its tracks.

The Conversation

Expert rejects supermarket land banking concerns

A retail expert says it's "not unreasonable" for supermarkets to spend years developing sites for stores, as the government moves to crack down on land banking.

AAP

Afternoon Update: Labor threatens visa cancellations after protests; Baby Reindeer wrongly billed as ‘true story’; and a scrappy punk band’s evolution

Home affairs minister Tony Burke issues statement after some marchers carried Hezbollah flags

The Guardian - AU

Victoria police identify six possible criminal incidents after Hezbollah flags seen at weekend protests

Federal government warns against importing ‘radical ideologies of conflict’ and threatens to cancel visa of anyone inciting ‘discord’

The Guardian - AU

Advice on negative gearing 'not out of the ordinary'

Debate over housing policy prompted Treasury advice on negative gearing, says Jim Chalmers after the PM denied the government had plans to reform the scheme.

AAP

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AAP

Community tensions boil after Hezbollah flag display

The flaunting of Hezbollah flags and pictures of the terror group's slain leader at a protest has inflamed community tensions following mass protests.

AAP

Australian optimism tempered over Chinese stimulus

Australia has welcomed a major Chinese stimulus as its stalling economy has flow-on effects but the treasurer has warned about being overly optimistic.

The Guardian - AU

Morning Mail: Jim Chalmers to confirm big budget surplus, Israel launches Yemen strikes, Tim Winton writes of our shared anguish

Treasurer points to lower spending; Israel shows no signs of de-escalation in new wave of strikes

AAP

Bigger budget surplus not 'an end in itself'

Treasurer Jim Chalmers says a better-than-expected $15.8 billion budget surplus doesn't mean cost-of-living measures have been forgotten.

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The Conversation

Final budget outcome shows 2023-24 surplus of $15.8 billion

The budget surplus for last financial year has come in at $15.8 billion, well exceeding the $9.3 billion that was forecast in the May budget.

AAP

Property tax concession change talk sparks uncertainty

Property investors are being warned they can't trust Labor's assurances they won't change tax concessions, after reports Treasury is probing reform options.

The Guardian - AU

What goes up must come down: lesson for Labor as negative gearing balloon goes adrift

After it emerged the treasurer sought advice on the reform of tax breaks, the government should have been quicker to bring the debate back down to earth

The Conversation

View from the Hill: Albanese and Chalmers play cat-and-mouse on negative gearing with the public – and possibly with each other

Is the government seriously interested in changing arrangements on negative gearing? After days of questions to Prime Minister Anthony Albanese and Treasurer Jim Chalmers, who would know?

The Independent UK

Australian treasurer welcomes Chinese efforts to stimulate economy during Beijing visit

Australian Treasurer Jim Chalmers has welcomed efforts by China to perk up its slowing economy

AAP

Failure to inform about missile blast was irresponsible

The lack of warning from Beijing to its neighbours about the test launch of an intercontinental ballistic missile over the Pacific was "irresponsible".

AAP

No negative gearing reform on cards for election: PM

The prime minister has hosed down suggestions Labor will take changes to negative gearing to the election, amid warnings it could hike up rents.

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