Boele pulls off miraculous comeback in tight Bradfield race
That's a wrap. Thanks for following The Australian Financial Review 's live coverage this Monday, May 19. Join us tomorrow for more coverage.
Here are some of the stories we covered today:
Monique Ryan demands government scrap 'harmful and unfair' super tax: The recently re-elected teal independent has joined the pile-on against Labor's plans to increase the tax on $3 million-plus superannuation accounts.
Carbon offsets set aside following greenwashing lawsuit: One of Australia's largest energy firms has issued an apology to more than 400,000 customers, acknowledging that carbon offsets 'do not prevent or undo harms' caused by burning fossil fuels.
PM promises more Ukrainian support in Vatican meeting: More tanks from Australia are 'on their way' to Ukraine, the prime minister has told President Volodymyr Zelensky, as Anthony Albanese was urged to apply further sanctions on Russia.
Company tax cut could boost investment: Productivity Commission boss Danielle Wood says reforming the corporate tax system could stimulate business investment, which has been flatlining for 15 years.
PM meets Pope, EU seeks defence pact: Anthony Albanese spoke to Pope Leo XIV about his mother after being ushered into St Peter's Basilica in Rome following the Catholic leader's inauguration mass.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Canberra Times
41 minutes ago
- Canberra Times
Ukraine city under threat as Russian forces advance
Russian and Ukrainian delegations met in Turkey for peace talks on Monday where Moscow said it would only agree to end the war if Kyiv cedes big new chunks of territory and accepts limits on the size of its army.
AU Financial Review
an hour ago
- AU Financial Review
Budget, ferries, AFL stadium could crash Tasmanian government
Tasmanian Premier Jeremy Rockliff has threatened to send voters back to the polls for an early election after Labor secured enough support to pass a no-confidence motion on the Liberal leader's management of the state's finances. Opposition Leader Dean Winter tabled the motion in state parliament on Wednesday morning, bringing to a head an intense political dispute about Rockliff's handling of the budget, the bungled rollout of new Spirit of Tasmania ferries, privatisation of assets and a proposed new AFL stadium.
The Age
2 hours ago
- The Age
Chalmers goes on the attack over super tax ‘lies'
Treasurer Jim Chalmers has brushed away criticism of his proposal to tax paper profits for wealthy superannuant, claiming media reporting on the issue does not indicate Australians are genuinely concerned and accusing the Coalition of lying. Since Labor's election win, scrutiny has grown on the government's plan to raise the earnings tax from July 1 on superannuation balances above $3 million from 15 per cent to 30 per cent. Labor announced the policy more than two years ago, but it has yet to go through the Senate. Chalmers pushed back at suggestions the government could win support for the change from the Liberal and National parties, saying the Coalition – which has opposed the proposal – was not serious about negotiating. 'I think we should resist the temptation to think that because overwhelmingly, two media outlets don't like this change, to assume that the concern is kind of broadly and deeply felt in the Australian community,' Chalmers said in a press conference in Canberra on Wednesday, in his firmest defence of his policy to date. Reporting on the policy, projected to about $2.7 billion per year initially, has been led by The Australian, owned by News Corp, and the Australian Financial Review, owned by this masthead's owner Nine Entertainment. Loading The most controversial element of the policy is that unrealised capital gains on assets held in super, such as property or farms, will be valued and taxed each year. The unorthodox practice has raised questions about the principle of asking superannuant to settle a tax bill for assets from which they have not yet banked an actual gain. Chalmers said tax concessions for super account holders remained generous, and claimed Coalition MPs were lying when they claimed politicians on defined benefits pension schemes, such as Prime Minister Anthony Albanese, would not be captured by the tax. He said under existing law, long-serving MPs such as Albanese could not pay for any extra tax liability out of their super until they reached pension age. But they would be charged interest on their deferred tax.
