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Sussan Ley has bested Shadow Treasurer Angus Taylor for Liberal Party leadership, as the Coalition recovers from a bruising federal election.

New Industry Minister Tim Ayres once proposed an inheritance tax to help fund young Aussies starting businesses and buying homes.

Treasurer Jim Chalmers has welcomed the tariff truce between the US and China, but noted many issues remained unresolved.

CPA Australia is calling on taxpayers to seek professional advice instead of relying on social media influencers for EOFY tips and tricks.