Category: Katy Gallagher

Australian Government Encourages Small Businesses to Go Electric with $314 Million Tax Break

May 1, 2023
AustraliaJim ChalmersKaty Gallaghertax breakWorld
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The Australian government has introduced a $314 million (US$208 million) package to encourage small and medium-sized enterprises to electrify their businesses. The government said the Small Business Energy Incentive scheme, which will be featured in the May 9 federal budget, would help Australian businesses “save energy and save on their energy bills.” Up to 3.8…

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Government Won’t Raise Jobseeker, Will Continue to Deliver Stage-Three Tax Cuts: Australian Finance Minister

April 23, 2023
anthony albaneseAustraliabudgetKaty GallagherStage Three Tax CutsWorld
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Australia’s finance minister has ruled out raising the base rate of the JobSeeker payment, although she acknowledged that those on the support program are doing it tough. Minister Katy Gallagher also hinted that the government would slightly increase taxes on oil and gas companies while standing by its decision to deliver the stage-three tax cuts….

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Labor’s Super Tax Will Capture 1 in 10 Australians in 30 Years, Treasure’s New Estimate Shows

March 7, 2023
AustraliaBusiness & MarketsJim ChalmersKaty Gallagherpersonal financeSuperannuationtreasuryWorld
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Labor’s superannuation tax change would hit one in 10 Australians who are retiring in 30 years and will be calculated based on unrealised capital gain, the Finance Minister has revealed. The centre-left government previously described its decision to double the tax on super accounts over $3 million, from 15 percent to 30 percent, as a “modest”…

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Australia Spending $7 Billion on Gender Equality

October 27, 2022
AustraliaAustralian federal budgetBusiness & MarketseconomyKaty GallagherWorld
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The Albanese government will invest $7 billion (US$4.5 billion) into making Australia a world leader in gender equality. Minister for Women Katy Gallagher said this was the first budget where the government could demonstrate they were serious about delivering on the promise to improve women’s economic equality. “Labor’s first Budget delivers on our election commitment…

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Global Stagflation a Risk Warns Australian Finance Minister

June 27, 2022
AustraliaBank for International SettlementsBusiness & MarketsCCP ViruseconomyKaty GallagherWorld
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Australian Finance Minister Katy Gallagher has warned that Australia and the world are facing the risk of global stagnation and high inflation, a situation known as stagflation. In its latest annual report, the Bank for International Settlements (BIS), also known as the central bank of central banks, said the world’s economic developments in the past…

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