Federal Budget news

G20 calls for tax policy overhaul

Chinese finance minister Lou Jiwei has called on the G20 to play a leading role in supporting a new international tax system.

Group of 20 finance ministers say taxation policies should be improved worldwide to reflect globalisation and promote socially balanced, sustainable economic growth.

Morrison plays get-out-of-jail-free card

Treasurer Scott Morrison points to a graph as he announces the coalition government's election costings with and ...

In budgeting it's known as the magic asterisk, the get-out-of-jail-free card. If it looks as though you'll be in the red, you simply add in a figure for general unspecified savings and, magically, your problem's solved.

Cuts or tax rises needed, warns budget update

Treasurer Scott Morrison delivering the budget earlier this month.

​Treasury and Finance have warned that significant spending cuts – or a big rise in tax receipts – will be needed to return the federal budget to surplus over the medium term.

Budget 2016 Live from Parliament House

Prime Minister Malcolm Turnbull and Treasurer Scott Morrison during a feisty question time.

Speaking of the budget Opposition Leader Bill Shorten will give his formal reply tonight. Having spent much of the week congratulating the government for adopting some of his policies what else will Mr Shorten have to say?

'The game is up on this'

The Treasurer Scott Morrison speaking at The Tax Insitute breakfast.

Scott Morrison has begun his budget sales tour warning big companies that Australia will lead the way on multinational tax avoidance.