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Labor forces Coalition to vote on $17bn tax cuts

Labor’s $17bn tax cut plan passes amid Coalition opposition; election imminent, prompting criticism of modest relief measures.

Published

10 months ago

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Labor’s $17bn tax cut plan passes amid Coalition opposition; election imminent, prompting criticism of modest relief measures.

In Short

Labor’s $5-a-week tax cut plan has passed, facing opposition from the Coalition, which labelled it a “cruel hoax.”

Despite criticism, the bill received backing from the Greens and crossbenchers, promising future relief for taxpayers.

Labor has passed its $5-a-week tax cut plan, compelling the Coalition to vote against what they have termed a “cruel hoax.”

This legislation was introduced by Treasurer Jim Chalmers shortly after the government outlined the cost-of-living budget.

The Coalition promptly announced it would not support the tax cuts, allowing Labor to critique their refusal to back the relief measures before the upcoming election.

Despite opposition, the Bill passed 38 to 26 with support from the Greens and crossbenchers.

The $17 billion plan promises around $5 weekly to taxpayers in 2026-27 and $10 weekly from 2027-28. Chalmers emphasized that opposing the legislation equated to higher taxes for Australian workers.

Election bribe

The Coalition’s response was critical, with Shadow Treasurer Angus Taylor labelling the proposal an “election bribe.”

Following the announcement, Opposition Leader Peter Dutton is expected to propose his own tax cut plan, potentially halving the fuel excise if elected.

While the Greens did not impede the bill, they expressed that the tax cut was a missed opportunity for more significant cost-of-living relief.

Senator Jacqui Lambie supported the bill, believing any relief is better than none.

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Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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U.S. and China approve TikTok sale to American investors

US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.

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17 hours ago

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January 23, 2026

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US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.


The United States and China have officially approved a deal for TikTok’s US operations to be sold to American investors, led by Oracle and Silver Lake.

This marks a major shift in the social media landscape as the platform navigates increasing regulatory scrutiny.

Under the new agreement, ByteDance will retain just under 20% of TikTok US, while Oracle and Silver Lake will each take 15% stakes. Other investors will also participate, forming a structure designed to satisfy both commercial and regulatory demands.

The new US-based entity will have a majority American board tasked with overseeing data protection and content moderation. Despite these safeguards, concerns remain about ByteDance’s influence and whether the deal fully complies with recent legislation.

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#TikTokSale #USChinaDeal #Oracle #SilverLake #ByteDance #TechNews #SocialMedia #DataProtection


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Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide

U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.

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3 days ago

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January 21, 2026

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U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.


U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.

The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.

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#USMarkets #WallStreet #TrumpTariffs #GlobalMarkets #USDebt #Europe #Davos #Ticker


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Gold hits record highs as investors flee risk

Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.

Published

4 days ago

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January 20, 2026

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Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.


Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.

The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.

Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.

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#GoldRally #SafeHaven #InvestingTips #FinancialMarkets #GoldPrices #GlobalEconomy #MarketUpdate #TickerNews


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