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For the second year in a row, the Australian Government has delivered a surplus which this year is projected to be $9.3b. As with last year's Budget, the 2024 Budget was delivered against a continued backdrop of inflation (albeit moderation), cost of living pressures, high interest rates, and increasing geopolitical instability. It has tried to walk a fine line of providing incentives in nationally strategic areas (particularly in relation to the energy transition) without fuelling demand pressures which threaten to increase inflation and interest rates. Time will tell whether this will be suc...

Treasurer Jim Chalmers says the incoming ATO boss is an “outstanding leader and one of the nation’s most experienced tax experts”.

ATO second commissioner Jeremy Hirschhorn said several major coal and gas exporters had exhausted losses carried forward from setting up projects, and were now paying significant income tax.

Microsoft and Apple report shrunken profits.

The budget was framed as a reset of fiscal policy by Labor, but the government gave a wide berth to tax reform and had a few surprises instead. What did the budget say? If you think that federal budg