/ 12 March 2024

Getting rid of a nuisance

Image source: iStock
Image source: iStock

If you’ve heard a bit about nuisance tariffs in the last 24 hours, it’s because the Albanese Government is scrapping nearly 500 of them to streamline business processes and save Aussies “a small amount” at the checkout. They are talking about things like 5% taxes on imported products such as white goods and personal care items, and although the full list hasn’t been released yet, theme park owners might be happy that park equipment will be included… Treasurer Jim Chalmers says the tariffs are a nuisance because they don’t raise much money for the government, but they do create $30 million of compliance costs/red tape for businesses. He’s also announced a plan to fast-track environmental project approvals in a bid to secure Coalition support for the government’s planned mining tax. Reports say this is all part of the government’s laying of the groundwork for the May Budget.

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