AdvertisementPoliticsFederalFederal budget Chalmers puts tax reform at top of budget plans Shane Wright Updated January 30, 2026 — 12:12pm ,first published 12:10pm Save You have reached your maximum number of saved items. He opened the door to tax changes, while signalling any measures would have to be explained methodically so they could be locked in permanently. In his last budget, Chalmers revealed two modest personal income tax cuts that will be rolled out this year and next. But the budget is increasingly reliant on personal income tax collections, prompting calls for Keatingesque or Howard-era type changes to the tax system. However, the figures suggest indirect tax collections, which include the GST, excises and customs duties, are running short of expectations.