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The Latest Breaking News from Susie Dodds

Treasury chief defends Labor's beleaguered budget

Controversial budget changes would have cut the lifetime tax benefits for the top one per cent of earners by $400,000 if implemented in 2000, Treasury says.

AAP

Liquor firm cuts back on wine to focus on pubs growth

Endeavour Group, which owns Dan Murphy's, BWS, and hundreds of pubs, plans to take $300 million in costs out of the business to support its future growth.

AAP

Labor happy with softer housing market since budget

Tax changes in the federal budget are already helping to level the playing field, according to the housing minister.

AAP

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Climate change risks billions in roads, hospitals bills

A state has been warned climate change-linked weather hazards endanger almost a fifth of the value of major infrastructure assets.

AAP

Rates revelation: why RBA dissenter voted against hike

The lone Reserve Bank board member who voted against lifting the cash rate in May was less concerned about inflation expectations than the bank's economists.

AAP

How housing became a generational budget battleground

Pitting investors against first home buyers in the name of intergenerational equity, Labor's fifth budget aims to address young people's housing struggles.

AAP

Bank plunge could spell end of an era for ASX investors

Big retail banks have driven returns on the ASX for years, but global asset manager VanEck believes they are overpriced and mid-caps offer better opportunities.

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Labor tucks away $77b war chest for further tax cuts

A new $250 a year tax offset gives the government an option to return bracket creep directly to working Australians, Treasurer Jim Chalmers says.

AAP

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.

AAP

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.

AAP

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.

AAP

Oil crisis not over: warnings of diesel over $4 a litre

With the Strait of Hormuz still shut and stockpiles running down, economists warn fuel prices could spike above levels previously seen during this oil crisis.

AAP

Third RBA rate hike might not be the end for borrowers

Mortgage holders are back to square one after a third straight Reserve Bank rate hike, adding hundreds of dollars more to interest repayments since February.

AAP

Right tax moves matter more than mandates: treasurer

Expected changes to negative gearing or capital gains tax would not break an election promise because they would be for the right reasons, Jim Chalmers says.

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Close call tipped as Reserve Bank mulls third rate hike

Traders and economists expect the central bank to raise interest rates for a third straight meeting but high uncertainty could result in another split decision.

AAP

Hopes of wartime windfall shot down for federal budget

The federal treasurer is being urged not to grandfather tax breaks for asset-holders in the budget as the economic impact of the Iran war worsens.

AAP

PM rubbishes budget tax speculation as home prices slow

Sydney's home price premium over Brisbane and Perth continues to narrow as values retreat in Australia's two largest cities.

AAP

Treasurer downplays property tax windfall from budget

Jim Chalmers is talking down the amount of extra revenue that changes to negative gearing and the capital gains tax discount will add to the budget.

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AAP

NDIS cuts not just about kicking people off: minister

The minister in charge of the NDIS has defended looming changes to the scheme that will require people with disabilities to be reassessed.

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Pressure on states to get behind NDIS changes

States and territories are being lobbied by the federal treasurer to back National Disability Insurance Scheme reforms to handle more people than previously.

AAP

Compromises abound in PM's global hunt for extra fuel

As fuel supplies tighten, world leaders - including Australia's - are having to make uncomfortable choices about where they source their oil.

AAP

Warning for borrowers as RBA frets over its credibility

The Reserve Bank is worried about 1970s-style runaway inflation if it loses credibility in fighting inflation, as analysts warn of up to five more rate hikes.

AAP

World economy counts cost of war as strait closes again

The economic costs of conflict are greater than severe natural disasters and can leave scars that last for a decade, the world's "financial firefighter" says.

AAP

Community searches for answers over shock Freeman find

Unanswered questions are reverberating through a border community after alleged cop killer Dezi Freeman was found on an isolated bush block.

AAP

Global group backs cuts, rate rises to curb inflation

Australia's inflation rate will peak higher than previously forecast, as surging oil costs cause consumer prices to increase, a Paris-based policy body says.

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