Guardian AU
Aukus costs balloon with more cash and staff for submarine agency amid ongoing search for nuclear waste dump
Australia's commitment to the AUKUS submarine program is growing more expensive, with funding for the Australian Submarine Agency set to reach $512 million in the next financial year alone — part of a $430 million-plus blowout over four years. The increase comes as questions mount over whether a sovereign Australian nuclear submarine fleet will ever materialize. Compounding the program's challenges, authorities are still searching for a suitable site to store nuclear waste generated by the deal.
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Federal budget 2026 winners and losers: rich families, overseas travellers and illegal tobacco – summary
Labor's 2026 federal budget delivers tax relief for ordinary Australians and new pathways for first home buyers, while wealthier families and overseas travellers face a tighter financial squeeze. Treasurer Jim Chalmers has drawn clear battle lines in this budget, redistributing benefits toward middle Australia ahead of an election cycle. The crackdown on illegal tobacco also signals a broader revenue push to fund the government's spending priorities.
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Trump’s Middle East war could push Australia to cusp of recession, budget warns
Global conflict risk has moved from geopolitical abstraction to budget line item. Treasury's worst-case modelling warns that an escalating Iran war could drive oil to $200 a barrel in the September quarter, pushing Australian inflation to 7.25% and the economy to the edge of recession. The scenario underscores how exposed Australia remains to supply shocks originating thousands of miles from its shores.
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Sydney Morning Herald
Federal budget 2026 as it happened: Treasurer Jim Chalmers confirms big changes to negative gearing, CGT and relief for workers
The Albanese government has unveiled sweeping changes to Australia's tax system, with Treasurer Jim Chalmers confirming significant reforms to negative gearing and capital gains tax concessions. The budget also delivers relief measures for workers, signaling a shift in the government's economic priorities ahead of the election cycle. The changes represent some of the most consequential housing and tax reforms in years, with implications for investors and wage earners alike.
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Federal budget 2026 LIVE updates: Treasurer Jim Chalmers confirms big changes to negative gearing, CGT and relief for workers
The Albanese government has unveiled sweeping tax reforms in the 2026 federal budget, with Treasurer Jim Chalmers confirming significant changes to negative gearing and capital gains tax concessions. The overhaul marks one of the most substantial shifts to property investment policy in years, with implications for landlords, investors, and the broader housing market. Workers can also expect targeted relief measures as the government attempts to balance fiscal responsibility with cost-of-living pressures.
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