AAP Rolling News Bulletin for May 28 at 0600
Tax (CANBERRA)
Controversial changes to capital gains tax concessions and negative gearing will be introduced to parliament despite warnings they will worsen Australia's productivity problem.
The proposals to rein in investor tax breaks will be bundled up alongside a $250 a year tax rebate for workers and a $1000 standard tax deduction in a single bill that Treasurer Jim Chalmers will submit to the House of Representatives on Thursday.
The treasurer has said the changes will help level the playing field for many young Australians who have been locked out of the housing market by a system that taxes income earned from labour at a higher rate than income derived from investments.
While the majority of economists and business groups have acknowledged the need for tax reform, and the changes are likely to be passed with the support of the Greens, the government has taken flak in particular for the proposed changes to the capital gains discount.
Iran (TEHRAN)
Iran would restore shipping through the Strait of Hormuz to pre-war levels within a month in a framework deal with the United States that also includes plans for withdrawing US forces from Iran's vicinity, Iranian state television reports.
The report said the US would end a naval blockade of Iranian shipping, citing a memorandum of understanding being negotiated between the two sides to end the war which has choked global energy supplies through the strategic waterway.
Iranian state TV said it had obtained an unofficial draft of the MOU though it was not final and may not be agreed.
State TV said the framework, which excludes military vessels and envisages Iran managing ship traffic through the strait in co-operation with Oman, was not yet finalised and that Iran would take no steps without "tangible verification".
Ebola (NAIROBI)
Uganda has closed its border with neighbouring Democratic Republic of Congo with immediate effect to try to limit the spread of Ebola, Uganda's government says.
The border will be closed for four weeks, except for Ebola response teams, humanitarian and security operations, and food and cargo transport, senior health official Diana Atwine told a press conference.
Uganda has reported seven Ebola cases and one death in the outbreak, whose epicentre is in DR Congo's Ituri province.
DR Congo has recorded more than 900 suspected cases and about 220 deaths, according to the World Health Organisation, which has declared the outbreak of the rare Bundibugyo strain of Ebola a public health emergency of international concern.
A local Ebola task force led by Vice President Jessica Alupo made the decision after a rise in Ugandan health workers exposed to the virus by DR Congolese patients who crossed the border before the outbreak was declared on May 15.
Mideast (JERUSALEM/CAIRO)
Israel says it has killed Hamas's newly appointed armed wing chief in Gaza, days after it killed his predecessor, while intensifying military pressure in Gaza and expanding operations in Lebanon.
The Israeli military said Mohammad Odeh was killed in an operation in Gaza on Tuesday.
A relative of Odeh confirmed his death to Reuters and said the funeral would take place after noon prayers in Gaza City.
Hamas has yet to issue an official statement, but a statement from his family said he was killed along with his wife and son.
Gaza health officials said six people, including at least one woman, were killed and more than 20 others were wounded in the same Israeli strike that destroyed an upper floor of an apartment building in the Rimal neighbourhood in Gaza City.
Legal: Star (SYDNEY)
Star's ex-boss has shown no remorse after failing to disclose possible criminal risks of overseas junkets which drew billions of dollars into the casino, a court has been told.
Former Star chief executive Matthias Bekier failed to inform the board of suspicious conduct committed by Chinese junket operator Suncity in 2018 and 2019, the Federal Court found in March.
That included bundles of cash being delivered to the service desk in blue cooler bags or cardboard boxes and junket staff hiding under blankets to stay out of the view of CCTV cameras.
The Australian Securities and Investments Commission successfully sued Mr Bekier and former Star general counsel Paula Martin for breaches of their duties.
The watchdog on Wednesday sought hefty fines against the pair.
Employment (CANBERRA)
More people are expected to be helped off welfare and into work under the biggest overhaul of employment services in 30 years, but advocates argue the changes are simply more of the same.
More than one million Australians - many of them on programs such as JobSeeker - are required to get professional help finding a job and face losing their welfare payment if they don't meet requirements known as mutual obligations.
Workplace Minister Amanda Rishworth outlined the first steps towards reforming incentives for privately owned employment services providers, aimed at tackling claims the system is unfair and punitive.
A one-size-fits-all system will be split into three streams, with different obligations for each, to try and ensure people are matched with the level of support they need.
Legal: Westpac (MELBOURNE)
Westpac has been fined $26 million for being "grossly negligent" in failing to respond to hard-up customers, a move one expert says puts the rest of the banking industry on notice.
The Australian Securities and Investments Commission pursued the major bank in 2023 after it was found to have failed to respond to more than 200 online hardship requests from customers over the previous six years.
Federal Court judge Tim McEvoy found the bank's conduct was not deliberate, although it occurred over the lengthy period.
The requests were made by customers of Westpac and its subsidiaries St George Bank, Bank SA and Bank of Melbourne.
The customers were struggling to keep up with repayments on home loans, credit cards, personal loans, car loans and other responsibilities.
Reconciliation (CANBERRA)
Travis Lovett has arrived at Parliament House with a plea from his Aboriginal elders.
"I have walked my part of the road. Now I ask this country to walk the next part with us," he told a crowd of hundreds of people.
The Kerrupmara Gunditjmara man had just presented a kangaroo skin to Prime Minister Anthony Albanese, inscribed with a letter calling for national truth-telling.
"The time has come for us to look honestly at ourselves," the first line reads.
Mr Lovett brought the message on a slow, 38-day walk, covering more than 500km of winding rivers from Melbourne to the nation's capital.
The final part of the journey was completed alongside hundreds of people from Canberra's Reconciliation Place to Parliament House, where he was met by the prime minister on Wednesday.
In finance ...
Economy (CANBERRA)
Australia's headline inflation rate fell sharper than expected in April, but a rise in the underlying measure will be cause for concern at the Reserve Bank.
A decline in petrol prices as a result of the government's fuel excise cut caused the increase in the annual consumer price index to fall to 4.2 per cent, from 4.6 per cent in March, the Australian Bureau of Statistics reported on Wednesday.
Forecasters had been expecting the headline inflation rate to fall to 4.4 per cent.
However, the trimmed mean, which omits volatile items and gives a better sense of the underlying pulse, edged up to 3.4 per cent, in line with the consensus of forecasters.
While the slightly softer-than-expected reading won't add to the case for more rate hikes, the RBA board will be wary not to take too much confidence out of one month of data.
Nufarm (SYDNEY)
Farmers are choosing to skip laying down fertiliser for a year as costs rise, but are still willing to spend on seeds and crop-protection products, the nation's main supplier says.
Nufarm chief executive Rico Christensen says farmers around the world are looking to offset rising fuel and fertiliser prices as a result of the conflict in the Middle East.
"Most farmers, they have options to reduce some of their fertiliser applications," he told an earnings briefing on Wednesday.
Farmers who have done their work in previous years can skip fertiliser application for a year or reduce it without a significant impact on yield.
"What they do not seem to be compromising on is the quality of the yield that they deliver on farms," Mr Christensen added.
In entertainment ...
Legal: Perry (LOS ANGELES)
A personal assistant who injected Friends star Matthew Perry with a fatal dose of the hallucinogenic drug ketamine has been sentenced to three years and five months in federal prison, bringing to a close the prosecution of five people who admitted to playing roles in the actor's death.
Judge Sherilyn Garnett delivered the 41-month sentence for Kenneth Iwamasa, the person who found Perry floating face down and lifeless in a hot tub at his Los Angeles home in October 2023.
Federal prosecutors said Iwamasa injected Perry with ketamine at the actor's request before leaving the residence to run errands.
Perry was dead when Iwamasa returned.
An autopsy report concluded that Perry died from the "acute effects of ketamine," which combined with other factors in causing him to lose consciousness and drown.
Cleese (LONDON)
Comedic great John Cleese is to embark on a UK tour celebrating more than 50 years since the release of Monty Python And The Holy Grail.
The 86-year-old will host a 45-minute Q and A session with fans after a screening of the 1975 film introduced by the star.
"I'm delighted to be celebrating more than 50 years of Holy Grail with these incredible live events around the country, mainly because I genuinely never expected either the film or myself to last this long," Cleese said
The sessions will see Cleese reflect on the making of the film and its legacy, with fans able to ask their own questions.
The tour will begin at Basingstoke Anvil Arts on September 1 and run until its final show at Leeds Grand Theatre on September 22, stopping at Manchester, Newcastle and Birmingham, with tickets priced at £39.50 ($A75).
In sport ...
Ten Open Aust (PARIS)
Luckless Australian tennis star Thanasi Kokkinakis has vowed to battle on despite his future again being thrown into doubt after another savage injury blow wrecked his latest comeback bid at the French Open.
The ill-starred 30-year-old was forced to pull out at the start of the third set of his second-round contest with Spanish veteran Pablo Carreno Busta on Wednesday with a recurrence of the chronic right shoulder problem that's been placing a question mark over his career.
But the defiant 30-year-old, who said he'd pulled out because he feared the match might finish his season, was adamant: "I'm doing some scans tomorrow, I'm trying to be optimistic."
Kokkinakis had cut a forlorn figure after duelling with typical bravery to level at one-set all 5-7 6-4 after two hours in the 32C heat at Roland Garros, but having clearly been in some discomfort throughout, as he constantly tried to shake shake out his serving shoulder, he needed physio treatment after the set.
RL Origin (SYDNEY)
A shattered Kalyn Ponga has admitted he feels responsible for Queensland's State of Origin collapse after his dramatic send off late in the series opener.
Ponga fronted the media with blood dripping from his ear after the Maroons' 22-20 loss to NSW at Accor Stadium, where he became just the seventh player sent off in Origin history.
The Newcastle superstar has avoided a ban for the shoulder charge on Tolu Koula, instead able to pay a $6900 fine for the shoulder charge that shaped the match.
But he felt pain enough watching on as the Maroons surrendered a 22-6 lead, as the Blues pulled off the biggest comeback in Origin history.
"I'm not proud of it," Ponga said.
"The boys had to work a lot harder because of me being off the field so that is something I am not proud of. But shit happens.
Ends Bulletin
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