The opposition has accused Labor of a “breach of trust” after the Albanese government announced super balances over $3m will be taxed at a rate of 30%, up from the current concessional rate of 15%.
The prime minister, Anthony Albanese, and the treasurer, Jim Chalmers, say the change will only affect 80,000 people’s super accounts – about 0.5% of Australians – and is forecast to raise $900m over four years once it takes effect in 2025. Chalmers earlier on Tuesday released a report that found super tax concessions are costing the federal budget $50bn a year.
The shadow treasurer, Angus Taylor, quickly declared that the government had broken a pre-election commitment not to raise taxes on super, suggesting capital gains tax, negative gearing and franking credits were next in the firing line. Anthony Albanese had earlier stressed there would be no changes in this term of government.
It comes as Asic launched its first “greenwashing” court action, with Mercer Super in the corporate regulator’s sights for allegedly investing in coal and other fossil fuels in a fund that promoted its sustainable credentials.
Top news
Murdoch admits Fox News hosts ‘endorsed’ Trump’s stolen election narrative | Rupert Murdoch has acknowledged under oath that Sean Hannity, Jeanine Pirro and other Fox News hosts endorsed Donald Trump’s lie that the 2020 election was stolen from him. “I would have liked us to be stronger in denouncing it in hindsight,” the billionaire said in a deposition in the $1.6bn defamation lawsuit brought against the network by Dominion Voting Systems.
Stuart Robert alleged to have said robodebt legal advice ‘just advice’ | The royal commission into robodebt has been told former government services minister Stuart Robert said the Coalition would “double down” after he was informed the scheme was unlawful. Renee Leon, a former human services secretary said Robert had treated the conversation “appropriately seriously”. But Robert had responded to her briefing by saying: “Legal advice is just advice.” Robert will give evidence to the inquiry on Thursday.
Botched arrest of Kumanjayi Walker criticised at inquest | The deputy commissioner of NT police, Murray Smalpage, has criticised the operation to arrest Indigenous man Kumanjayi Walker conducted by Zacahry Rolfe and other members of an immediate response team. Smalpage told the inquest into the shooting death of Walker he was “struggling to find a reason why” there was such a deviation from the “detailed” plan to arrest the Warlpiri teenager.
New Zealand pip England in cricket classic | The Black Caps defeated the touring England team by the narrowest of margins in Wellington, fighting back from a hefty first-innings deficit to win the second Test by one run. It was only the fourth time a side has won after being asked to follow on. But there will be no decider, with the result meaning the two-match series is drawn 1-1.
Man shot dead in Sydney police station | A man who arrived at Auburn police station just after midnight on Tuesday morning was shot dead after police say he threatened officers with a knife. NSW police have yet to formally identify the man but believe he was involved in the stabbing minutes earlier of a man at Auburn train station.
Elon Musk sued again by Tesla shareholders | The Tesla chief executive, Elon Musk, is being targeted in a class action by shareholders who allege he and the company overstated the effectiveness and safety of their vehicles’ autopilot and full self-driving technologies. More than 360,000 Tesla vehicles equipped with full self-driving beta software were recalled in the US earlier this month because they were potentially unsafe around intersections.
‘No further hope’ for Tom Sizemore | The family of Tom Sizemore are deciding “end of life” matters after the US actor suffered a brain aneurysm earlier this month. The Saving Private Ryan and Heat actor was found unconscious at his LA home on 18 February, having collapsed after a stroke.
Full Story
The ‘wild west’ of online sperm donation in Australia
Senior reporter Tory Shepherd speaks to Jane Lee about why people are choosing not to use the IVF system in this 22-minute episode.
What they said …
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“Pill testing can often give people the sense that it is safe to take these drugs. And it isn’t.” – Daniel Andrews
The Victorian premier has ruled out following in the footsteps of Queensland, which will introduce pill testing at mobile and fixed sites after the trials in Canberra.
In numbers
Australia has taken a step towards becoming the first country to ban engineered stone products amid rising fears of silicosis, a serious and irreversible lung disease that can cause permanent disability and early death. Respirable crystalline silica is produced when dry-cutting silica products commonly used in kitchen and bathroom benches.
Before bed read
When a pornbot created a fake Instagram account mimicking Sydney illustrator Nurie Salim, some of her friends applauded her for “getting that coin”. Even though the photos it had scraped were by her reckoning “pretty tame”, she was determined to get the account taken down lest it pop up in the feed of two persons of interest: her parents.
Daily word game
Today’s starter word is: INS. You have five goes to get the longest word including the starter word. Play Wordiply.
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