Overview
- Chalmers, speaking Monday after IMF meetings, warned the budget now factors in higher inflation, slower growth and the risk of more unemployment as the Middle East war lifts oil prices and disrupts trade through the Strait of Hormuz.
- The Age reported the treasurer is leaning toward reviving the pre‑1999 capital gains method that taxes only inflation‑adjusted gains, though ministers say any decision will be revealed on budget night.
- Pressed on TV interviews, Katy Gallagher and Tanya Plibersek declined to confirm changes to the capital gains discount and said the tax package will be set out on May 12.
- Chalmers said cutting red tape will feature in the budget after business groups pushed for a 25% cut to duplicated rules that add cost for firms and consumers.
- He left the door open to extending temporary fuel excise relief, flagged NDIS savings as the largest cost restraint, and pointed to polling that shows support for trimming the CGT concession alongside a PBO estimate that the discount will cost about $247 billion over 10 years.