The ABC understands that the world's largest miner, BHP, could soon announce it has settled a billion-dollar-plus tax dispute with the Australian Taxation Office over its Singapore marketing hub.
Labor announces a plan to increase penalties for those who promote tax avoidance schemes, at the same time as the Tax Office battles to retain access to Glencore documents revealed in the Paradise Papers leak.
Australia could be one of the world's earliest movers in introducing an interim tax on digital companies to raise more money from multinationals, but tax experts warn it could spark a tit-for-tat tax war with US President Donald Trump.
Federal Labor leader Bill Shorten will be asked at shadow cabinet today to reverse his decision on company tax cuts for businesses with a turnover between $10 million and $50 million, the ABC understands.
The Opposition Leader succumbs to party pressure and backs down on his plan to scrap company tax cuts for medium-sized businesses.
Finance Minister Mathias Cormann says the Government will try again when Parliament resumes in August to pass tax cuts for businesses with turnover above $50 million.
In a move likely to increase trade tensions with China, US President Donald Trump scuttles what would have been the world's biggest technology takeover to protect the US's biggest microchip maker and 5G leader.
Donald Trump's steel and aluminium tariffs are unlikely to harm China. It is US factory workers, farmers and allies like Canada and Europe and to an extent Australia who are in the firing line, writes business reporter Stephen Letts.