Midday News Bulletin 6 May 2025
Warning over impact of superannuation tax
Trump places restrictions for travel on 17 nations
Christiano Ronaldo scores to secure Portugal's place in UEFA Final Listen to Australian and world news, and follow trending topics with SBS News Podcasts . Shadow treasurer Ted O'Brien says Labor's plan to double taxes on superannuation balances over $3 million will be 'an absolute disaster'. Mr O'Brien told ABC any tax on unrealised gains was an 'egregious idea'. "We believe in lower taxes. We believe in simpler taxes. We believe in fairer taxes … People are going to be paying a tax on theoretical profits, money that hasn't even hit their bank account. This crosses a red line in Australian tax law. It will be an absolute disaster. … Where does that then go? Will Labor start taxing unrealised capital gains on your primary residence? We don't want a bar of that." The policy aims to curb the number of high net-worth individuals using their super for tax deduction purposes, rather than for their retirement. Treasurer Jim Chalmers remains firm on the proposed changes but says the government doesn't have the numbers in the Senate to pass the legislation.
The median super balance for 60- to 64-year-olds is roughly $200,000 for men and $150,000 for women.
Tasmanians could be facing a snap election, with state premier Jeremy Rockliff expected to be dumped by parliament. The Liberal state minority government is in political turmoil after Mr Rockliff faced a no-confidence motion on Wednesday, with a marathon debate expected to continue when sittings resume this morning. The motion, put forward by the Labor opposition, appears all but certain to pass with support of the Greens and three cross bench MPs.
Mr Rockliff has conceded the numbers are against him but has vowed to "fight to his last breath" and not resign.
Newly elected independent MP, Nicolette Boele, says she is 'very confident' with the outcome of Bradfield's recount. Ms Boele was declared winner of the Sydney seat of Bradfield on a wafer-thin margin of 26 votes from more than 118,000 - more than a month after polls closed. She told ABC, the question of whether the recount should be disputed was up to her opponent, Liberal candidate Gisele Kapterian. 'I think I'm very confident with the process that's been run by the AEC and the outcome that we have here. So, I'm keen to get on with the job, but I can understand you might need to ask that question to Giselle Kapterian."
Ms Kapterian is yet to concede and has said she will 'carefully review' the original count and the recount.
President Donald Trump has signed a proclamation, preventing people from a dozen countries from entering the United States. The countries include Afghanistan, Burma, Chad, Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen. In addition to the ban, which takes effect next Monday local time there will be heightened restrictions on visitors from Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela. Mr Trump says he's acting "to protect the national security and national interest of the United States and its people". He says the move is a response to an attack on a Jewish protest in Colorado.
US authorites say the suspect was an illegal resident.
UN Security Council members have criticised the United States after it vetoed a resolution calling for a ceasefire and unrestricted humanitarian access in Gaza. Washington's United Nations envoy Dorothy Shea says the resolution would undermine diplomatic efforts to reach a ceasefire and would embolden Hamas. "Fourteen votes in favour, one against. The draft resolution has not been adopted, owing to the negative vote of a permanent member." The vote has sparked anger among members of the council. Pakistan's ambassador to the UN, Asim Ahmad, says the veto will remain "a moral stain on the conscience" of the council "that will reverberate for generations".
France's ambassador to the UN, Jerome Bonnafont, said the council was "prevented from shouldering its responsibility, despite the fact that most of us seem to be converging on one view".
Ukrainian President Volodymyr Zelenskyy has urged allies not to show weakness to Vladimir Putin, after the Russian leader threatened retaliation against recent strikes in a call with US counterpart Donald Trump. In an online post, Mr Zelenskyy said when Putin "feels neither strength nor pressure but weakness, he commits yet more crimes". The Ukrainian leader has proposed implementing a ceasefire with Russia, until a meeting can be arranged with Mr Putin. He told a briefing in Kyiv that Europe, Ukraine, and the whole world have a chance to end the war. 'My proposal, which I believe our partners can support, is that we agree a ceasefire with the Russians until the leaders meet. We offer a meeting any day starting from Monday, if there is no mutual understanding, if there is no desire for de-escalation, if there is no desire and vision how to put an end to it, then ceasefire will be over the same day."
Mr Zelenskyy added Ukraine would "be grateful" for support for a ceasefire from Mr Trump.
In football, Cristiano Ronaldo has scored the winner for Portugal, as the side fought back from behind to beat Germany 2-1 and reach the UEFA Nations League final. Germany took the lead in the 48th minute, with a well-timed header from Florian Wirtz following a lobbed pass from Joshua Kimmich. However, Portugal turned the match around, first equalising through an individual goal from substitute Francisco Conceicao in the 63rd minute, before Ronaldo tapped in five minutes later to send the visitors into the final. Portugal coach Roberto Martinez says he's proud of his team's reaction to going a goal down. 'It's 25 years since the last time we beat Germany in Germany, so, it was that psychological barrier, if you want, and then when we concede the goal, the reaction was incredible. So, we could speak about the tactical aspects and what we did, but I think I would like to remark the psychological strength that we showed today.'
Spain and France will clash in the other semi-final tomorrow to decide who will face Portugal in the decider on Sunday.
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