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The Australian government has unveiled its 2025-26 federal budget, focusing on cost-of-living relief, tax cuts, and support for households, students and businesses.
With a general election approaching, Australia’s treasurer Jim Chalmers introduced several measures aimed at easing financial pressure on Australians while addressing key economic challenges, including housing affordability and slowing economic growth, reported Bloomberg.
Tax cuts
One of the most significant highlights is the extension of tax cuts, which will reduce the tax rate for those earning between A$18,201 and A$45,000 to 14% by July 2027.
According to Bloomberg, these cuts…
