Jim Chalmers’ small tax cuts spark significant budget concerns

Treasurer Jim Chalmers’ modest $5 weekly tax cuts face criticism for lacking significant cost-of-living relief.

Published

11 months ago

March 25, 2025

Ahron Young

Treasurer Jim Chalmers’ modest $5 weekly tax cuts face criticism for lacking significant cost-of-living relief.

In Short

Treasurer Jim Chalmers announced new tax cuts for Australians earning over $45,000, starting next year, with minimal weekly savings that critics view as inadequate for easing living costs. He linked these changes to efforts in lowering medical costs and emphasised the overall budget impact, despite scepticism regarding their significant contribution to public welfare.

Treasurer Jim Chalmers has announced new tax cuts affecting Australians earning over $45,000, set to take effect next year.

These changes will provide a minimal tax cut of $5 per week, amounting to $268 annually in 2026, and doubling to $536 in 2027.

While these adjustments build on prior tax cuts initiated by Labor, critics see the amounts as insufficient to significantly ease living costs.

Chalmers emphasised that the combined effects of multiple tax cuts would total around $50 per week by 2027-28 for the average worker.

Bulk billing

He linked this initiative to a broader strategy to alleviate cost of living pressures, which includes increased bulk billing and cheaper medicines.

The government is also raising low-income thresholds for the Medicare levy, ensuring one million Australians remain exempt or pay less tax.

Despite the modesty of the new tax cuts, the total budget impact is substantial, costing $17 billion by 2030.

Chalmers stated the government aims to balance budget constraints while addressing bracket creep and rewarding workers.

Overall, while Chalmers positions these changes as a significant contribution to public welfare, the reality of the tax cuts has been received with scepticism due to their trivial financial impact.

U.S. markets mixed as tech slumps and Fed moves spark uncertainty

Mixed US equity results as tech stocks drop; market uncertainty rises amid Fed Chair change. Join Steve Gopalan’s insights on FX trends.

Published

2 days ago

February 6, 2026

Harvey Vargas

Mixed US equity results as tech stocks drop; market uncertainty rises amid Fed Chair change. Join Steve Gopalan’s insights on FX trends.

US equity markets posted mixed results as technology stocks fell, reflecting growing concerns about AI disruptions. The delay of key labour data has added to market uncertainty, especially with President Trump’s recent appointment of Kevin Warsh as Fed Chair.

Steve Gopalan from SkandaFX joins us to discuss how these shifts could influence monetary policy, corporate FX strategies, and the broader financial landscape.

We also dive into FX trends, euro-area inflation signals, and Australian dollar movements, exploring what these developments mean for investors worldwide.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#USMarkets #TechStocks #FedPolicy #FXTrading #AIImpact #LabourMarket #CurrencyTrends #InvestingInsights

Money

Tech stocks and Bitcoin tumble amid market uncertainty and rising job concerns

Wall Street plummets as tech stocks and Bitcoin fall, raising concerns about job market and economic stability.

Published

2 days ago

February 6, 2026

Harvey Vargas

Wall Street plummets as tech stocks and Bitcoin fall, raising concerns about job market and economic stability.

Wall Street took a sharp hit Thursday as technology stocks and Bitcoin plunged, reigniting worries over the job market and global economic stability. Kyle Rodda from Capital.com breaks down how Alphabet and Qualcomm’s earnings may signal broader tech weakness.

Bitcoin’s recent drop also rattled crypto markets, with Coinbase shares falling sharply. Rodda explains how much of the decline is driven by market fundamentals versus shifting investor sentiment, and how rising AI expenditures are affecting investor confidence in tech.

The surge in unemployment claims, coupled with falling bond yields, is prompting concern over overall market stability.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#WallStreetCrash #TechStocks #BitcoinDrop #MarketVolatility #JobMarket #InvestingTips #CryptoNews #Ticker

Money

S&P 500 dips as tech stocks struggle with AMD leading losses

S&P 500 declines as tech stocks sell off; AMD plummets, Microsoft stable, investors eye Alphabet’s upcoming earnings report.

Published

3 days ago

February 5, 2026

Harvey Vargas

S&P 500 declines as tech stocks sell off; AMD plummets, Microsoft stable, investors eye Alphabet’s upcoming earnings report.

The S&P 500 fell as technology stocks faced intense selling pressure, dragging the broader market lower. AMD shares were particularly hard hit, falling 17% after its first-quarter forecast disappointed analysts.

Software names including Oracle and CrowdStrike also struggled, although Microsoft found some stability amid the sell-off.

Investors are now focused on Alphabet, which is set to report earnings after the bell Wednesday.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker