Chalmers urges Bessent to reconsider ‘revenge tax' on super funds
Treasurer Jim Chalmers has urged his US counterpart Scott Bessent to reconsider a controversial proposal that would raise taxes on super funds and companies investing in the US, as he pushed back on calls to increase Australia's defence spending.
Institutional investors are alarmed by section 899 of the Trump administration's so-called 'big beautiful bill'. The proposed law would give the administration scope to use 'revenge taxes' on foreign countries that it deemed treated American firms unfairly, such as through digital services taxes.
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The Advertiser
an hour ago
- The Advertiser
Australia's Iran fallout warning despite uneasy truce
Conflict between Iran and Israel will have consequences for Australia, even if a ceasefire holds, an expert warns. While the federal government has repeatedly called for diplomacy and peace, it differed from other US allies by supporting America's decision to join Israel's offensive and strike Iran. Concerns had been raised if the action was legal, making Australia's position on the strikes "worrying", regardless of whether a ceasefire held, analyst Jessie Moritz told AAP. "Given that the intelligence that Israel was operating under was not confirmed even by the US, that really raised the question of whether this was a legal war and whether this was breaking an international norm," the Australian National University Arab and Islamic studies lecturer said. "Breaking international norms is a huge problem because it allows our enemies to break that norm with us." The Labor government initially took a more neutral stance but backed the US bombings after the coalition came out in support first. Dr Moritz said the government's quick decision was concerning and drew comparisons to the events of 2003, where Australia joined the US war in Iraq under false claims it possessed weapons of mass destruction. Though she hoped a ceasefire would hold, Dr Moritz warned the conflict would have long-term ramifications. US international partners have begun to more closely examine whether American interests align with their own as President Donald Trump emerges as a foreign policy disruptor. The conflict could incentivise Arab states to pursue nuclear weapons and lead Iran to withdraw from the Nuclear Non-Proliferation Treaty and rebuild its nuclear program. Dr Moritz said Iran could become more repressive and conservative because it might lose some support, using the events as an excuse to violently repress opposition groups. Anyone within the regime who supported diplomatic engagement with the West would be sidelined too. This could impact Australian-Iranian communities, many of whom hoped the conflict could help de-stabilise the Iranian autocracy and pave the way for a new, democratic government. Persian Australian Community Association member Nader Ranjbar said the regime's continuation could lead to his "worst fear". "That somehow they get away from this mess and the first thing they do is start killing Iranian people," he told AAP. Mr Trump attacked both nations for breaching the ceasefire in the early stages, saying "they don't know what the f*** they are doing" on live television. The prime minister was unperturbed by the language. "President Trump made some pretty clear statements. I don't think it needs any further reflection," Mr Albanese said on Wednesday. "We want to see peace in the region, we want to see a ceasefire, we want to see de-escalation, and that is consistent with the very clear comments of President Trump." In the early hours of the day, 119 Australians and family members left Tel Aviv on a government-assisted flight. There are still about 3000 Australians in Iran who have registered with the government for help to leave, and more than 1000 in Israel. The latest conflict erupted on June 13, when Israel fired missiles at Iran in a bid to blow up military assets, arguing it was on the cusp of developing nuclear weapons. The battle took a turn on the weekend when the US launched a bombing raid on three underground nuclear facilities in Iran. Conflict between Iran and Israel will have consequences for Australia, even if a ceasefire holds, an expert warns. While the federal government has repeatedly called for diplomacy and peace, it differed from other US allies by supporting America's decision to join Israel's offensive and strike Iran. Concerns had been raised if the action was legal, making Australia's position on the strikes "worrying", regardless of whether a ceasefire held, analyst Jessie Moritz told AAP. "Given that the intelligence that Israel was operating under was not confirmed even by the US, that really raised the question of whether this was a legal war and whether this was breaking an international norm," the Australian National University Arab and Islamic studies lecturer said. "Breaking international norms is a huge problem because it allows our enemies to break that norm with us." The Labor government initially took a more neutral stance but backed the US bombings after the coalition came out in support first. Dr Moritz said the government's quick decision was concerning and drew comparisons to the events of 2003, where Australia joined the US war in Iraq under false claims it possessed weapons of mass destruction. Though she hoped a ceasefire would hold, Dr Moritz warned the conflict would have long-term ramifications. US international partners have begun to more closely examine whether American interests align with their own as President Donald Trump emerges as a foreign policy disruptor. The conflict could incentivise Arab states to pursue nuclear weapons and lead Iran to withdraw from the Nuclear Non-Proliferation Treaty and rebuild its nuclear program. Dr Moritz said Iran could become more repressive and conservative because it might lose some support, using the events as an excuse to violently repress opposition groups. Anyone within the regime who supported diplomatic engagement with the West would be sidelined too. This could impact Australian-Iranian communities, many of whom hoped the conflict could help de-stabilise the Iranian autocracy and pave the way for a new, democratic government. Persian Australian Community Association member Nader Ranjbar said the regime's continuation could lead to his "worst fear". "That somehow they get away from this mess and the first thing they do is start killing Iranian people," he told AAP. Mr Trump attacked both nations for breaching the ceasefire in the early stages, saying "they don't know what the f*** they are doing" on live television. The prime minister was unperturbed by the language. "President Trump made some pretty clear statements. I don't think it needs any further reflection," Mr Albanese said on Wednesday. "We want to see peace in the region, we want to see a ceasefire, we want to see de-escalation, and that is consistent with the very clear comments of President Trump." In the early hours of the day, 119 Australians and family members left Tel Aviv on a government-assisted flight. There are still about 3000 Australians in Iran who have registered with the government for help to leave, and more than 1000 in Israel. The latest conflict erupted on June 13, when Israel fired missiles at Iran in a bid to blow up military assets, arguing it was on the cusp of developing nuclear weapons. The battle took a turn on the weekend when the US launched a bombing raid on three underground nuclear facilities in Iran. Conflict between Iran and Israel will have consequences for Australia, even if a ceasefire holds, an expert warns. While the federal government has repeatedly called for diplomacy and peace, it differed from other US allies by supporting America's decision to join Israel's offensive and strike Iran. Concerns had been raised if the action was legal, making Australia's position on the strikes "worrying", regardless of whether a ceasefire held, analyst Jessie Moritz told AAP. "Given that the intelligence that Israel was operating under was not confirmed even by the US, that really raised the question of whether this was a legal war and whether this was breaking an international norm," the Australian National University Arab and Islamic studies lecturer said. "Breaking international norms is a huge problem because it allows our enemies to break that norm with us." The Labor government initially took a more neutral stance but backed the US bombings after the coalition came out in support first. Dr Moritz said the government's quick decision was concerning and drew comparisons to the events of 2003, where Australia joined the US war in Iraq under false claims it possessed weapons of mass destruction. Though she hoped a ceasefire would hold, Dr Moritz warned the conflict would have long-term ramifications. US international partners have begun to more closely examine whether American interests align with their own as President Donald Trump emerges as a foreign policy disruptor. The conflict could incentivise Arab states to pursue nuclear weapons and lead Iran to withdraw from the Nuclear Non-Proliferation Treaty and rebuild its nuclear program. Dr Moritz said Iran could become more repressive and conservative because it might lose some support, using the events as an excuse to violently repress opposition groups. Anyone within the regime who supported diplomatic engagement with the West would be sidelined too. This could impact Australian-Iranian communities, many of whom hoped the conflict could help de-stabilise the Iranian autocracy and pave the way for a new, democratic government. Persian Australian Community Association member Nader Ranjbar said the regime's continuation could lead to his "worst fear". "That somehow they get away from this mess and the first thing they do is start killing Iranian people," he told AAP. Mr Trump attacked both nations for breaching the ceasefire in the early stages, saying "they don't know what the f*** they are doing" on live television. The prime minister was unperturbed by the language. "President Trump made some pretty clear statements. I don't think it needs any further reflection," Mr Albanese said on Wednesday. "We want to see peace in the region, we want to see a ceasefire, we want to see de-escalation, and that is consistent with the very clear comments of President Trump." In the early hours of the day, 119 Australians and family members left Tel Aviv on a government-assisted flight. There are still about 3000 Australians in Iran who have registered with the government for help to leave, and more than 1000 in Israel. The latest conflict erupted on June 13, when Israel fired missiles at Iran in a bid to blow up military assets, arguing it was on the cusp of developing nuclear weapons. The battle took a turn on the weekend when the US launched a bombing raid on three underground nuclear facilities in Iran. Conflict between Iran and Israel will have consequences for Australia, even if a ceasefire holds, an expert warns. While the federal government has repeatedly called for diplomacy and peace, it differed from other US allies by supporting America's decision to join Israel's offensive and strike Iran. Concerns had been raised if the action was legal, making Australia's position on the strikes "worrying", regardless of whether a ceasefire held, analyst Jessie Moritz told AAP. "Given that the intelligence that Israel was operating under was not confirmed even by the US, that really raised the question of whether this was a legal war and whether this was breaking an international norm," the Australian National University Arab and Islamic studies lecturer said. "Breaking international norms is a huge problem because it allows our enemies to break that norm with us." The Labor government initially took a more neutral stance but backed the US bombings after the coalition came out in support first. Dr Moritz said the government's quick decision was concerning and drew comparisons to the events of 2003, where Australia joined the US war in Iraq under false claims it possessed weapons of mass destruction. Though she hoped a ceasefire would hold, Dr Moritz warned the conflict would have long-term ramifications. US international partners have begun to more closely examine whether American interests align with their own as President Donald Trump emerges as a foreign policy disruptor. The conflict could incentivise Arab states to pursue nuclear weapons and lead Iran to withdraw from the Nuclear Non-Proliferation Treaty and rebuild its nuclear program. Dr Moritz said Iran could become more repressive and conservative because it might lose some support, using the events as an excuse to violently repress opposition groups. Anyone within the regime who supported diplomatic engagement with the West would be sidelined too. This could impact Australian-Iranian communities, many of whom hoped the conflict could help de-stabilise the Iranian autocracy and pave the way for a new, democratic government. Persian Australian Community Association member Nader Ranjbar said the regime's continuation could lead to his "worst fear". "That somehow they get away from this mess and the first thing they do is start killing Iranian people," he told AAP. Mr Trump attacked both nations for breaching the ceasefire in the early stages, saying "they don't know what the f*** they are doing" on live television. The prime minister was unperturbed by the language. "President Trump made some pretty clear statements. I don't think it needs any further reflection," Mr Albanese said on Wednesday. "We want to see peace in the region, we want to see a ceasefire, we want to see de-escalation, and that is consistent with the very clear comments of President Trump." In the early hours of the day, 119 Australians and family members left Tel Aviv on a government-assisted flight. There are still about 3000 Australians in Iran who have registered with the government for help to leave, and more than 1000 in Israel. The latest conflict erupted on June 13, when Israel fired missiles at Iran in a bid to blow up military assets, arguing it was on the cusp of developing nuclear weapons. The battle took a turn on the weekend when the US launched a bombing raid on three underground nuclear facilities in Iran.
The Advertiser
an hour ago
- The Advertiser
Pope urges all sides in Iran-Israel war to talk peace
Pope Leo XIV urged the warring sides in the Israel-Iran war to "reject the logic of bullying and revenge" and choose a path of dialogue and diplomacy to reach peace as he expressed solidarity with all Christians in the Middle East. Speaking at his weekly Wednesday general audience, the American pontiff said he was following "with attention and hope" recent developments in the war. He cited the biblical exhortation: "A nation shall not raise the sword against another nation." A ceasefire is holding in the 12-day Iran-Israel conflict, which involved Israel targeting Iranian nuclear and military sites and the US intervening by dropping bunker-buster bombs on Iranian nuclear sites. Iran has long maintained that its nuclear program is peaceful. "Let us listen to this voice that comes from on high," Leo said. "Heal the lacerations caused by the bloody actions of recent days, reject all logic of bullying and revenge, and resolutely take the path of dialogue, diplomacy and peace." The Chicago-born Leo also expressed solidarity with the victims of Sunday's attack on a Greek Orthodox church in Damascus, Syria, and urged the international community to keep supporting Syrian reconciliation. Syria's interior ministry has said a sleeper cell belonging to the Islamic State group was behind the attack at the Church of the Holy Cross in Damascus, which killed at least 25 people. "To the Christians in the Middle East, I am near you. All the church is close to you," he said. "This tragic event is a reminder of the profound fragility that still marks Syria after years of conflict and instability, and therefore it is crucial that the international community doesn't look away from this country, but continues to offer it support through gestures of solidarity and with a renewed commitment to peace and reconciliation." Pope Leo XIV urged the warring sides in the Israel-Iran war to "reject the logic of bullying and revenge" and choose a path of dialogue and diplomacy to reach peace as he expressed solidarity with all Christians in the Middle East. Speaking at his weekly Wednesday general audience, the American pontiff said he was following "with attention and hope" recent developments in the war. He cited the biblical exhortation: "A nation shall not raise the sword against another nation." A ceasefire is holding in the 12-day Iran-Israel conflict, which involved Israel targeting Iranian nuclear and military sites and the US intervening by dropping bunker-buster bombs on Iranian nuclear sites. Iran has long maintained that its nuclear program is peaceful. "Let us listen to this voice that comes from on high," Leo said. "Heal the lacerations caused by the bloody actions of recent days, reject all logic of bullying and revenge, and resolutely take the path of dialogue, diplomacy and peace." The Chicago-born Leo also expressed solidarity with the victims of Sunday's attack on a Greek Orthodox church in Damascus, Syria, and urged the international community to keep supporting Syrian reconciliation. Syria's interior ministry has said a sleeper cell belonging to the Islamic State group was behind the attack at the Church of the Holy Cross in Damascus, which killed at least 25 people. "To the Christians in the Middle East, I am near you. All the church is close to you," he said. "This tragic event is a reminder of the profound fragility that still marks Syria after years of conflict and instability, and therefore it is crucial that the international community doesn't look away from this country, but continues to offer it support through gestures of solidarity and with a renewed commitment to peace and reconciliation." Pope Leo XIV urged the warring sides in the Israel-Iran war to "reject the logic of bullying and revenge" and choose a path of dialogue and diplomacy to reach peace as he expressed solidarity with all Christians in the Middle East. Speaking at his weekly Wednesday general audience, the American pontiff said he was following "with attention and hope" recent developments in the war. He cited the biblical exhortation: "A nation shall not raise the sword against another nation." A ceasefire is holding in the 12-day Iran-Israel conflict, which involved Israel targeting Iranian nuclear and military sites and the US intervening by dropping bunker-buster bombs on Iranian nuclear sites. Iran has long maintained that its nuclear program is peaceful. "Let us listen to this voice that comes from on high," Leo said. "Heal the lacerations caused by the bloody actions of recent days, reject all logic of bullying and revenge, and resolutely take the path of dialogue, diplomacy and peace." The Chicago-born Leo also expressed solidarity with the victims of Sunday's attack on a Greek Orthodox church in Damascus, Syria, and urged the international community to keep supporting Syrian reconciliation. Syria's interior ministry has said a sleeper cell belonging to the Islamic State group was behind the attack at the Church of the Holy Cross in Damascus, which killed at least 25 people. "To the Christians in the Middle East, I am near you. All the church is close to you," he said. "This tragic event is a reminder of the profound fragility that still marks Syria after years of conflict and instability, and therefore it is crucial that the international community doesn't look away from this country, but continues to offer it support through gestures of solidarity and with a renewed commitment to peace and reconciliation." Pope Leo XIV urged the warring sides in the Israel-Iran war to "reject the logic of bullying and revenge" and choose a path of dialogue and diplomacy to reach peace as he expressed solidarity with all Christians in the Middle East. Speaking at his weekly Wednesday general audience, the American pontiff said he was following "with attention and hope" recent developments in the war. He cited the biblical exhortation: "A nation shall not raise the sword against another nation." A ceasefire is holding in the 12-day Iran-Israel conflict, which involved Israel targeting Iranian nuclear and military sites and the US intervening by dropping bunker-buster bombs on Iranian nuclear sites. Iran has long maintained that its nuclear program is peaceful. "Let us listen to this voice that comes from on high," Leo said. "Heal the lacerations caused by the bloody actions of recent days, reject all logic of bullying and revenge, and resolutely take the path of dialogue, diplomacy and peace." The Chicago-born Leo also expressed solidarity with the victims of Sunday's attack on a Greek Orthodox church in Damascus, Syria, and urged the international community to keep supporting Syrian reconciliation. Syria's interior ministry has said a sleeper cell belonging to the Islamic State group was behind the attack at the Church of the Holy Cross in Damascus, which killed at least 25 people. "To the Christians in the Middle East, I am near you. All the church is close to you," he said. "This tragic event is a reminder of the profound fragility that still marks Syria after years of conflict and instability, and therefore it is crucial that the international community doesn't look away from this country, but continues to offer it support through gestures of solidarity and with a renewed commitment to peace and reconciliation."
West Australian
2 hours ago
- West Australian
Iran-Israel ceasefire: Albanese says Trump's ‘f…' bomb spray reflects Australia's de-escalation desire
Anthony Albanese says Donald Trump's 'f…' bomb — cursed in frustration over a breached Israel-Iran ceasefire — was 'consistent' with Australia's desire for de-escalation in the region. The US President launched the strongly-worded tirade at the Middle East nations, which included 'they don't know what the f… they're doing', while speaking with media outside the White House. The Prime Minister labelled it 'abrupt' but that the US President's fiery spray ultimately reflected the Albanese government's views on a ceasefire. 'We want to see de-escalation and that is consistent with the very clear comments of President Trump,' the PM told reporters in Tasmania on Wednesday. 'I think that President Trump made some pretty clear statements. I don't think it needs any further reflection. 'I think that he stated his views pretty abruptly, and I think they were very clear. 'We want to see peace in the region. We want to see a ceasefire.' Mr Trump had declared the truce — casting it as an end to what he dubbed a '12-day war' — after Tehran launched retaliatory strikes on a US base following American bombing of Iran's nuclear infrastructure. However, Israel has claimed a missile had been fired by the Islamic Republic, which Iran denied. 'I'm not happy with Israel for going out there. It was one rocket,' the US president had said. 'These guys got to calm down. I'm not happy with Iran either.' During appearances on Wednesday, Treasurer Jim Chalmers also noted the president lambasting both nations for violating a truce. 'The stakes are very high in the Middle East. The consequences of this ceasefire falling over are pretty grave. And I think the President's blunt language reflects that,' he told ABC News Breakfast. 'I think it reflects the gravity, the enormity of the situation in the Middle East, and just how important it is that both sides stick to this ceasefire, which has been negotiated.' Speaking on the sidelines of the NATO summit on Wednesday AEST, Deputy Prime Minister Richard Marles said there was no planned meeting with Mr Trump who was a fellow attendee. 'There's a lot of people at the NATO summit. There's a lot of people in the rooms that we'll all be in. And in gatherings such as this, the meetings that you have end up being pretty fluid,' Mr Marles told the ABC. Mr Albanese's planned meeting with Mr Trump on the sidelines of the G7 summit was scrapped after the US President had to return to America amid escalating conflict in the Middle East. When asked whether Australia would always back the United States' use of force, Mr Marles said: 'What we've done in this instance and what we do in every instance is to speak in accordance with what is Australia's national interest.' 'It's not in Australia's national interest to see Iran acquire a nuclear weapon.'
