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Australia's tax reforms expected to knock some heat out of housing

Australia's tax reforms expected to knock some heat out of housing

SYDNEY, May 12 (Reuters) - Australia's government expects its ambitious reforms to the way it taxes property investments to take some of the immediate heat out of one of the world's least affordable housing markets.
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Factbox-Australia unveils changes to negative gearing, capital gains tax

Factbox-Australia unveils changes to negative gearing, capital gains tax

SYDNEY, May 12 (Reuters) - Australia's centre-left Labor government will pare tax breaks for landlords to level the playing field for young Australians to own a home, in the biggest housing tax changes this century.
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Australian budget seeks to balance bold reform with inflation restraint

Australian budget seeks to balance bold reform with inflation restraint

By Stella Qiu SYDNEY, May 12 (Reuters) - Australia is set to deliver a narrower than previously flagged budget deficit on Tuesday as the government banks commodity-driven revenue windfalls, while seeking to bring forward politically sensitive reforms without stoking inflation.
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Commonwealth Bank shares slump on tax changes, provisions; Australian lenders fall

Commonwealth Bank shares slump on tax changes, provisions; Australian lenders fall

By Scott Murdoch and Rajasik Mukherjee May 13 (Reuters) - Shares of Australia's largest mortgage lender, Commonwealth Bank of Australia (CBA), dropped 9% on Wednesday after it set aside A$200 million more in provisions to prepare for risks linked to the Middle East conflict and investors reacted to
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Trump Organization drops plan for first Australian skyscraper, blames partner

Trump Organization drops plan for first Australian skyscraper, blames partner

SYDNEY, May 13 (Reuters) - The Trump Organization said on Wednesday it abandoned a plan to build its first tower in Australia less than three months after signing the deal, citing an Australian partner's failure to meet certain financial obligations.
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ASX Explorers Face Funding Challenges Amid Selective Capital Cycle

ASX Explorers Face Funding Challenges Amid Selective Capital Cycle

ASX Explorers Face Funding Challenges Amid Selective Capital Cycle
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US top diplomat discusses Iran, Strait of Hormuz with UK and Australia

US top diplomat discusses Iran, Strait of Hormuz with UK and Australia

By Kanishka Singh WASHINGTON, May 11 (Reuters) - U.S. Secretary of State Marco Rubio held separate calls with his Australian and British counterparts on Monday to discuss Iran and the Strait of Hormuz, the State Department said.
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U.S. Participates in Global Maritime Security Training in New Zealand

U.S. Participates in Global Maritime Security Training in New Zealand

The United States has participated in the Bell Buoy exercise, a global maritime security training program held in Auckland, New Zealand. The exercise brought together military and maritime representatives from various countries, including Australia, Canada, and the United Kingdom, to enhance cooperation in maritime security. The program focused on protecting commercial shipping and improving coordination during crisis scenarios. Participants engaged in operational simulations to ensure the safety of seafarers and the continuity of maritime trade.
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Australia to offer one-year grace period for housing, investment tax changes, AFR reports

Australia to offer one-year grace period for housing, investment tax changes, AFR reports

SYDNEY, May 11 (Reuters) - Australia's centre-left Labor government will offer a one-year grace period for planned changes to capital gains tax discounts and negative gearing in the federal budget to be handed down this week, the Australian Financial Review reported on Monday.
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Australia seeks reform, inflation restraint in budget balancing act

Australia seeks reform, inflation restraint in budget balancing act

By Stella Qiu SYDNEY, May 11 (Reuters) - Australia is expected to deliver a smaller than initially forecast budget deficit this week as the government banks revenue windfalls from higher commodity prices, while aiming to deliver politically risky reforms without worsening inflation.
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Australia's Trump-aligned populists vow to fight mass migration after winning first lower house seat

Australia's Trump-aligned populists vow to fight mass migration after winning first lower house seat

SYDNEY, May 10 (Reuters) - Australia's right-wing populist One Nation party, which wants to emulate U.S. President Donald Trump's aggressive deportations, vowed to focus on ending mass migration, after winning its first seat in the country's lower house.
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Sky News Australia Prepares Extensive Coverage for Budget 2026

Sky News Australia Prepares Extensive Coverage for Budget 2026

Sky News Australia has announced its lineup for covering Budget 2026, featuring prominent political commentators and analysts. The coverage will include live broadcasts of Treasurer Jim Chalmers' budget speech and analysis of the government's economic strategy amid ongoing cost-of-living pressures. The programming will also feature interviews with key political figures and public reactions.