Australia will receive another 990 000 migrants between 2025 and 2028 The new figure was released today in Treasurer Jim Chalmers’ 2026-27 federal budget, projecting net overseas migration for the next years This comes after a record-high peak of 538,000 new migrants in 2022 🇦🇺

AUSTRALIA COULD SCRAP 50% CRYPTO TAX DISCOUNT IN BIGGEST CAPITAL GAINS OVERHAUL IN YEARS The Australian government is set to release its 2027 budget on Tuesday. It will reportedly scrap the 50% capital gains tax discount for Australian crypto investors who hold assets longer than 12 months. Per reports, a full inflation-indexed tax on real gains would replace it. That could double the effective tax rate on long-term holdings from around 23.5% to nearly 47%, per the Australian Financial Review. The change would hit crypto, shares, and commercial property alike. Assets bought before May 10 get partial exemption. New rules take full effect in July 2027, with a one-year grace period for assets acquired after that date.

Australia recorded its first trade deficit in more than eight years as the war in Iran drove up the cost of fuel imports, squeezing households and further fueling inflationary pressures

Australia has approved a natural gas project off the coast of Victoria state, as the major exporter of the fuel looks to offset anticipated domestic shortfalls in the more populated southeast