The Australian government plans to remove about 14% of the country's tariffs, which is the biggest change to the tariff system in two decades. This move aims to cut red tape for businesses and boost productivity.
The Australia n government plans to remove about 14% of the country's tariffs, which is the biggest change to the tariff system in two decades. This move aims to cut red tape for businesses and boost productivity. The tariffs on everyday items such as toothbrushes, tools, fridges, dishwashers, and clothing will be reduced, making them slightly cheaper. Treasurer Jim Chalmers believes that this will ease some cost-of-living pressures.
Despite the fact that these imports are worth millions of dollars, the revenue generated from tariffs is relatively low
Australia Tariffs Business Productivity Cost-Of-Living Imports
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cost of living Australia: GDP growth slumps to 1.5pc as households cut backReal gross domestic product expanded by just 0.2 per cent in the three months to December, as consumers cut back on dining out and buying new clothes.
Read more »
Woolworths, Coles and ALDI shoppers demand answers over everyday buy missing from stores7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Singapore Backs Australia Over AUKUS Submarines, Undercutting Keating's ClaimSingapore supports Australia's decision on AUKUS submarines, contradicting former prime minister Keating's claim. Prime Minister Lee Hsien Loong advises China to drop trade sanctions against Australia and highlights Australia's role in regional security and stability. Keating calls for the sacking of Australia's spy chiefs for undermining ties with Beijing.
Read more »
Labor's broken tax cut promise highlighted in latest NewspollSky News host Chris Kenny discusses the cost of Labor's broken stage three tax cut promise following the latest Newspoll, showing a slender lead for Labor. The tax cuts were expected to benefit workers, but the polls show no reward for the party.
Read more »
Shrinking inflation gives RBA chance to cut rates mid-yearThe leap year might deliver enough extra activity to prevent the economy from contracting through this year’s March quarter, says KPMG’s chief economist.
Read more »
Federal Spending on Border Enforcement to Increase Amidst Claims of Funding CutFederal spending on border enforcement will reach $1.3 billion this year, countering claims of a funding cut. The spending will increase by $32 million to pay for surveillance flights and maritime patrols. Opposition Leader Peter Dutton accuses Labor of cutting funding for border protection.
Read more »