Anthony Albanese scores major win in super tax overhaul as surprise group reveals they support the change
The federal government is controversially hoping to lift taxes on super balances above $3 million from 15 per cent to 30 per cent in a move predicted to impact about 0.5 per cent of savers.
Despite outcry from the Opposition, about 57 per cent of seniors endorse the change, according to a survey of 3,000 people aged 50 and older conducted by National Seniors Australia for the Super Members Council.
The results appear to track with broader public sentiment on Labor's bill, Super Members Council CEO Misha Schubert said.
'There seems to be broad Australian understanding about the importance of equity and sustainability in the super system, and a strong sense of fairness as the starting point,' she told AAP.
While a significant majority of those surveyed believed the super system was strong and sustainable, comparatively fewer thought it was equitable.
Women, those with poorer health and Australians with less formal education had lower levels of confidence in its fairness, the report found.
Many of these demographics do not have equal access to the benefits of superannuation because of a lack of employment opportunities or disrupted work histories.
But overall, older Australians almost universally understand the importance of super with 89.5 per cent believing it must be saved for retirement.
Just one in four supported early release of funds beyond current rules.
But the Coalition has continued to push a housing plan that would allow first-time home buyers to access up to $50,000 from their super to put down a deposit, despite protests it would raise house prices and leave savers worse-off in the future.
'Policy ideas that propose early release are dangerous and they make Australians poorer,' Ms Schubert said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Guardian
39 minutes ago
- The Guardian
Australia won't commit in advance to joining hypothetical US-China conflict, Pat Conroy says
Australia will refuse any US request to join a 'hypothetical' conflict with China over Taiwan and won't make any advance commitment, the defence industry minister, Pat Conroy, has said, amid reports Washington is seeking such promises in discussions over the Aukus submarines. Conroy called on China to be more transparent about its military buildup, but said any commitment to war would be the sole power of the Australian government of the day. It came after multiple reports this week that the Pentagon was seeking guarantees from Australia and other allies about how they would respond in the event of a conflict in the Indo-Pacific. The Financial Times reported on Saturday that Elbridge Colby – the US under-secretary of defence for policy, who is also undertaking a review of the Aukus pact which would see America share nuclear-powered submarines with Australia – was asking Japan and Australia to reveal how they would act in a potential US-China war over Taiwan. The Sydney Morning Herald separately quoted a senior US defence official, who reportedly said Washington was seeking 'a clear sense of what we can expect from Australia'. Sign up for Guardian Australia's breaking news email The Pentagon was contacted for comment. Colby shared a post on X on Sunday (AEST) which referenced the FT article. In his post, he wrote that the US policy position included 'urging allies to step up their defense spending and other efforts related to our collective defense'. 'This has been a hallmark of President Trump's strategy - in Asia as in Europe where it has already been tremendously successful. 'Of course, some among our allies might not welcome frank conversations. But many, now led by NATO after the historic Hague Summit, are seeing the urgent need to step up and are doing so.' Conroy, a cabinet minister whose portfolio deals heavily with preparing to build the Aukus submarines, rebuked the idea Australia would commit in advance to any conflict. 'The sole power to commit Australia to war, or to allow our territory to be used for a conflict, is the elected government of the day. That is our position. Sovereignty will always be prioritised and that will continue to be our position,' Conroy told the ABC's Insiders program. Conroy said he would not comment on the nature of confidential discussions with the US over Aukus, but said the government would not 'discuss hypotheticals' around what Australia could do in the event of a potential future military engagement. 'The decision to commit Australian troops to a conflict will be made by the government of the day, not in advance but by the government of the day,' he stressed. Sign up to Breaking News Australia Get the most important news as it breaks after newsletter promotion The prime minister, Anthony Albanese, arrived in China on Saturday night for a six-day visit, which includes meetings with president Xi Jinping and premier Li Qiang, with the government saying the trip was about advancing Australia's security and economic interests. On Sky News on Sunday, the treasurer, Jim Chalmers, described the Australia-China relationship as 'full of opportunity but not short of complexity either'. It is unclear when the US may give any further public clarity on Colby's review of Aukus, which was initially described as a 30-day process. The start date of the review is unclear, but it is now 30 days since it was publicly announced. On Insiders, Conroy also declined to respond to reports that Trump may seek further costs from Canberra to fulfil the Aukus submarine deal, which would see the US sell several older ships to Canberra before new assets are constructed onshore in Australia. 'Let's see what the review finds. I'm confident it will support Aukus, just as our review of Aukus found, just as the UK review of Aukus found that. It's in the national interest of all three countries. It will contribute to deterrence as well as grow 20,000 jobs in Australia. Let's see what the US review comes forward with, then we'll react accordingly,' he said. Guardian Australia reported this week that Labor sources don't expect the review to be completed for months, while a Pentagon spokesperson said last week there was no public timeline for the work. Conroy said he didn't believe the report had been completed. The foreign affairs minister, Penny Wong, met her Chinese counterpart Wang Yi at the Asean summit in Malaysia on Friday. Government sources said she raised a number of Australian concerns with Beijing, including the circumnavigation of Australia by a Chinese naval taskforce and live-fire exercises, as well as unsafe actions in the South China Sea. Wong also raised concerns about the detention of Dr Yang Hengjun, Australia's opposition to the death penalty, and human rights in Xinjiang, Tibet and Hong Kong.
Reuters
2 hours ago
- Reuters
Australia and China: Trade flows and security tensions shape ties
SYDNEY, July 13 (Reuters) - Australia's Prime Minister Anthony Albanese arrived in Shanghai on Saturday for a six-day visit to three Chinese cities where regional security tensions and economic ties are likely to dominate talks. Albanese's second visit to China, where he will meet President Xi Jinping, comes after Canberra stepped up screening of Chinese investment in critical minerals and as U.S. President Donald Trump rattles the global economy with sweeping import tariffs. Here is a timeline of relations between Australia and China over recent years: Nov 17, 2014 - Australia sealed a landmark free trade agreement with top trade partner China, concluding a decade of negotiations. It comes into effect in late 2015. Dec 5, 2017 - Australia, concerned about Chinese influence, announces a ban on foreign political donations to prevent external interference in its politics. Aug 23, 2018 - Australia bans Huawei Technologies from supplying equipment for its planned 5G broadband network, citing national security regulations. Apr 2020 - Australia seeks support for an international inquiry into the origins of the COVID-19 pandemic. China's then ambassador to Australia says that in response to the call, the Chinese public would boycott Australian wine, beef and tourism. Jun 9, 2020 - China urges students going overseas to think carefully before choosing Australia, citing racist incidents, threatening a $27.5 billion market for educating foreign students. Aug 2020 - Australian citizen Cheng Lei, a business anchor for Chinese state television in Beijing, is detained. Nov 27, 2020 - China announces temporary anti-dumping tariffs on Australian wine. Shipments of Australian live lobsters, timber and barley are also blocked or restricted around this time. China's embassy lists 14 grievances with Australia, including the blocking of 10 Chinese investments on national security grounds. May 22, 2022 - Australia's Labor Party, led by Albanese, wins the general election ending almost a decade of conservative rule. Nov 15, 2022 - Albanese meets Xi on the sidelines of the G20 in Indonesia. It is the first leaders' meeting since 2016. Jan 3, 2023 - China allows three government-backed utilities and its top steelmaker to resume coal imports from Australia. Aug 5, 2023 - China ends 80.5% tariffs on Australian barley. Oct 11, 2023 - China releases Australian journalist Cheng Lei after three years in a Beijing prison on national security charges. Oct 22, 2023 - China agrees to review dumping tariffs of 218% on Australian wine. Australia pauses WTO complaint. Nov 6-7, 2023 - Visiting Beijing, Albanese tells Xi and Premier Li Qiang that a strong relationship between the two countries was "beneficial into the future". Xi says stable bilateral ties served each other's interests and both countries should expand their cooperation. Jan 18, 2024 - Australia rejects comments by China's ambassador seeking to deflect blame from China's navy for the injury of Australian military divers in an incident near Japan in November. Feb 5, 2024 - A Beijing court hands Australian writer Yang Hengjun a suspended death sentence, opens new tab, five years after he was first detained in China and three years after a closed-door trial on espionage charges. Mar 29, 2024 - China lifts tariffs on Australian wine, triggering a surge in imports. Dec 3, 2024 - China lifts final restrictions on Australian beef. Dec 12, 2024 - Australia strikes rugby league funding deal with Papua New Guinea that is contingent on its Pacific Islands neighbour rejecting security or policing ties with China. Dec 26, 2024 - China resumes imports of Australian lobster. Feb 21, 2025 - Australia's Foreign Minister Penny Wong raises concerns with Chinese counterpart over inadequate notice given by the Chinese navy of a live-fire exercise in international waters between Australia and New Zealand that forced airlines to divert flights. May 3, 2025 - Albanese's Labor government is re-elected for a second term in national elections.
Daily Mail
3 hours ago
- Daily Mail
I advertised a $130,000 job and received more than 140 applications… the position is still open because of an infuriating reason
A butcher claims a $130,000 position is still open despite receiving more than 140 applications because most candidates were unqualified and struggled to speak English. Clayton Wright, 66, who owns Wrights The Butchers in Alexandria, Sydney, warned Australia is facing a shortage of young tradespeople. He said it adds to the pressures of rising wages, superannuation costs, and broader cost-of-living challenges for businesses. 'We have had a decades-long drain on people that have not picked up the trade. This is what we're suffering now,' he told He said he is desperate for staff and has enough work to double his current headcount. Despite spending $1,100 a month advertising the position online, the fourth-generation butcher said he had not attracted an application from a qualified butcher. Mr Wright said the 140 applicants were all from overseas. He claimed they were candidates with little experience, hailing from Bangladesh, India, Pakistan, Nigeria, and South America. Mr Wright believed they were seeking sponsorships to work in Australia, but said there was no one available to train them. 'This happened years ago in the chef industry, where chef was an easy entry into Australia so all these people came and did a chef's course,' he said. 'The problem is that you have no butchers, so if you bring people in from overseas, you have no one to train them.' Business NSW chief executive Daniel Hunter said Mr Wright was not alone in his struggles. Mr Hunter said many business owners are repeatedly advertising for roles, but still unable to recruit. 'There are three things you can do: you grow your own talent through better vocational training and skills, you can utilise the people that are already here better, or you can increase skilled migration,' he said. 'If you do those three things, then you can certainly have a positive impact for businesses.' Business NSW's 2024 State of Skills report revealed 28 per cent of employers had to make five or more attempts to fill a single role over the past year. More than three-quarters, 77 per cent, said they had struggled to recruit or could not find suitable staff, while 80 per cent had lifted wages or improved conditions to attract workers. The report also found 36 per cent of businesses had delayed expansion plans. Twenty-seven per cent had lost business to competitors due to ongoing staffing shortages. Mr Hunter said the skills shortage was particularly hard-hitting in the regions and trade industries. Mr Wright blamed the increase, in part, on young Australians getting pushed into tertiary education instead of vocational studies. The problem, he claimed, is not isolated to the meat industry. However, he said many young people are put off by the low base award wages, which don't reflect the higher earning potential in the industry.
