Federal politics live: Jim Chalmers standing firm on superannuation reforms
Treasurer Jim Chalmers will need to look to the Greens to help pass his superannuation reforms as the Coalition says it won't negotiation on a key part of the proposal.
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ABC News
an hour ago
- ABC News
Cairns mayor accused of 'chilling' debate amid proposed 800pc retirement village rate hike
Elderly residents of retirement villages in Cairns lobbying against a council proposal to hike their rates have hit out at the city's mayor, accusing her of "spying" on their movements using social media. Cairns Regional Council is proposing to charge its minimum general rate of about $1,072 to each individual unit in retirement villages from next financial year. Currently, it imposes a single charge across entire villages. Retirement village operators say the change would lead to a rates increase of about 800 per cent which they claim they would be required to pass on to elderly residents under state legislation. Cairns Mayor Amy Eden defended the council's position during a live radio interview with ABC Far North this week saying many retirement villages "put in requests [to the council] for footpaths" which ratepayers had to pay for. But it was a follow-up remark about elderly residents using council-owned recreational spaces that one critic said has had a "chilling effect". "Ratepayers pay for that. Everyone needs to contribute." Retirement village resident Judy Holtzheimer, who has lobbied against the council's proposal, said she was shocked by the mayor's on-air comments. "I was absolutely stunned that someone in her position would, I would say in my words, stoop to spying on elderly [people]," she said. Another retirement village resident, Kay Nyland, said she believed she would be "one of the people" the mayor has looked up "because I have been very prominent on social media about this issue". The ABC has contacted Ms Eden to seek her response to the concerns. In a statement, a council spokesman said today the council "does not engage in tracking of residents". "It is well known that the mayor is active on social media and uses it to engage with the community," he said. "It is also common for social media users to post images of themselves using council facilities, which as a social media user the mayor made an offhand reference to on radio." Cairns Regional Council argues changing its rating structure would bring retirement villages into line with other multi-dwelling complexes. She said others should seek financial hardship assistance from their village operator or the council. "There are always going to be a percentage of ratepayers that really struggle to pay their rates," Ms Eden said. "That is just the way that it goes." The retirement village sector has campaigned against the proposal, concerned other councils could follow suit. Oak Tree Retirement Villages CEO Christine Gilroy said villages already paid for the installation of roads, lightning and garden maintenance, and that it would be a "double hit to those residents to pay that again". Retirement Living Council executive director Daniel Gannon said the council should put off its plan for a year for "genuine and proper consultation". He described Ms Eden's remark as "shocking and bizarre". The council is due to vote on the proposal at the end of June.
News.com.au
an hour ago
- News.com.au
Closing Bell: ASX slides 0.25pc, pushed lower by tech and gold stocks
ASX falls on broad weakness with 8 of 11 sectors down The Info Tech sector and gold stocks lead market falls Only Energy (+0.59%), Industrials (+0.28%) and Materials (+0.02%) moved higher There were some glimmers of optimism in early trade today, but it wasn't to last. The ASX has finished down 0.27%, with all but three sectors moving lower. Energy was the bright spot once again, gaining 0.59% on the back of a 0.7% uptick in oil prices overnight. Another softening in the gold price dragged gold stocks lower, with the All Ords Gold index sliding almost 2%. There was also weakness in the Info Tech sector and the seven major banking stocks, down 0.89% and 0.48% respectively. While news the US and China are making progress on their trade talks would normally have boosted the market, the escalating fight between Trump and Musk seems to have undercut those gains, giving investors enough reason to play it safe. Here's hoping next week brings better news. The Aussie bourse closed the week in the positive for the last five trading days despite the slide today, adding 0.96% this week. We've moved a little further from a new all-time high, but still well in range just 1.15% below previous records. ASX SMALL CAP LEADERS Today's best performing small cap stocks: Security Name Last % Change Volume Market Cap BMO Bastion Minerals 0.003 100% 1.24E+08 $1,355,441 CZN Corazon Ltd 0.003 100% 21386226 $1,776,858 MGU Magnum Mining & Exp 0.006 71% 2789927 $3,925,778 AXI Axiom Properties 0.029 61% 432568 $7,788,846 WC1 Westcobarmetals 0.023 53% 44802253 $3,110,692 AOK Australian Oil. 0.003 50% 10016926 $2,003,566 EM2 Eagle Mountain 0.006 50% 4381331 $4,540,149 GMN Gold Mountain Ltd 0.002 33% 1223628 $8,429,639 QXR Qx Resources Limited 0.004 33% 1583144 $3,930,987 SP8 Streamplay Studio 0.008 33% 4300905 $7,688,187 IS3 I Synergy Group Ltd 0.004 33% 154270 $1,502,290 NWM Norwest Minerals 0.013 30% 9786550 $9,683,586 CBL Control Bionics 0.035 25% 335944 $8,249,111 AAU Antilles Gold Ltd 0.005 25% 5439686 $8,605,471 EVR Ev Resources Ltd 0.005 25% 119999 $7,943,347 PIL Peppermint Inv Ltd 0.0025 25% 534955 $4,552,180 BYH Bryah Resources Ltd 0.016 23% 26696325 $11,309,396 DVL Dorsavi Ltd 0.016 23% 9974592 $9,506,093 ASM Ausstratmaterials 0.62 22% 1730971 $92,030,396 BDM Burgundy D Mines Ltd 0.0255 21% 1484931 $29,847,978 IR1 Irismetals 0.12 21% 54323 $17,073,479 TKM Trek Metals Ltd 0.076 21% 3676309 $36,963,540 H2G Greenhy2 Limited 0.018 20% 2197725 $8,972,763 PFT Pure Foods Tas Ltd 0.018 20% 16882 $2,031,384 GPR Geopacific Resources 0.024 20% 3388428 $63,649,307 Making news… West Cobar Metals (ASX:WC1) has completed the 100% acquisition of the Mystique gold project from IGO in WA's Fraser Range. The project sits just south of Rumble's Themis prospect, where standout gold hits include 4m at 22.2g/t. Drilling is now being planned at two key targets – Themis South and Torquata – to test for saprolite and basement gold. Australian Strategic Materials (ASX:ASM) is gaining momentum at its Korean Metals Plant, locking in new sales of rare earth metals and alloys as global buyers look for supply outside China. ASM has confirmed orders for a neodymium-iron-boron alloy to Noveon Magnetics in the US (15 tonnes) and Germany's Vacuumschmelze (7.2 tonnes), with first shipments kicking off in June. Bastion Minerals (ASX:BMO) elected to go into a trading halt ahead of the release of a maiden JORC mineral resource estimate for the ICE project in Canada. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Security Name Last % Change Volume Market Cap JAY Jayride Group 0.001 -50% 907361 $2,855,778 OB1 Orbminco Limited 0.001 -33% 100000 $4,796,352 TEG Triangle Energy Ltd 0.002 -33% 824307 $6,267,702 KNB Koonenberrygold 0.044 -29% 73272914 $63,530,934 HHR Hartshead Resources 0.005 -29% 30552538 $19,660,775 BP8 Bph Global Ltd 0.0015 -25% 198024 $2,101,969 HLX Helix Resources 0.0015 -25% 612046 $6,728,387 LNR Lanthanein Resources 0.0015 -25% 4920189 $4,887,272 HMD Heramed Limited 0.009 -25% 9550833 $10,507,233 ENT Enterprise Metals 0.002 -20% 1 $2,945,793 LML Lincoln Minerals 0.004 -20% 125759 $10,512,849 OVT Ovanti Limited 0.002 -20% 1943135 $6,983,788 VRC Volt Resources Ltd 0.004 -20% 456393 $23,423,890 CF1 Complii Fintech Ltd 0.019 -17% 100042 $13,142,054 G88 Golden Mile Res Ltd 0.015 -17% 9253892 $9,796,461 ADG Adelong Gold Limited 0.005 -17% 2203890 $12,412,060 BPP Babylon Pump & Power 0.005 -17% 4363293 $16,623,401 EAT Entertainment 0.005 -17% 242016 $7,852,716 FBR FBR Ltd 0.005 -17% 1804985 $34,136,713 JAV Javelin Minerals Ltd 0.0025 -17% 1268000 $18,378,447 PKO Peako Limited 0.0025 -17% 186667 $4,463,226 TON Triton Min Ltd 0.005 -17% 184797 $9,410,332 ZEU Zeus Resources Ltd 0.01 -17% 1134147 $7,688,078 GRE Greentechmetals 0.043 -16% 609790 $5,719,266 HAR Harangaresources 0.065 -16% 1213638 $8,785,640 IN CASE YOU MISSED IT Golden Mile Resources (ASX:G88) has wrapped up its first copper drill campaign with an early success as it awaits assays in the red hot state of Arizona. Koonenberry Gold's (ASX:KNB) fifth Sunnyside hole has returned a broad gold intersection that outlines its bulk tonnage potential. In this episode of Break it Down, host Tylah Tully looks at news from EBR Systems (ASX:EBR), which has implanted its first US commercial patients with the WiSE CRT System. MDF Global is using AI to uncover potential discoveries in Alaska thanks to its Critical Metal Alliance, which can access thousands of historical exploration data points. A 17-hole campaign at Astral Resources' (ASX:AAR) Kamperman deposit has returned fresh high-grade assays, reinforcing the significant gold opportunity. TRADING HALTS
News.com.au
an hour ago
- News.com.au
Andrew Redmayne's deal to return to Central Coast Mariners now uncertain
Former Socceroos goalkeeper Andrew Redmayne's hopes of rejoining Central Coast Mariners are in jeopardy after an apparent about-face from club owner and chairman Mike Charlesworth. It was announced in April that veteran gloveman Redmayne was parting ways with Sydney FC at the end of the 2024-25 A-League season after eight years with the Sky Blues, having lost his first-team place to Harrison Devenish-Meares. It's understood that soon after the announcement, 36-year-old Redmayne signed a contract with the Mariners, the club where he started his A-League career as a teenager in 2008. Sources close to the cash-strapped Mariners say that Charlesworth approved the deal. However, it now believed that as part of the club's current freeze on signing players, Charlesworth has back-tracked on bringing Redmayne back to Gosford, potentially leaving the experienced gloveman in limbo. A potential lifeline looms for Redmayne if English Championship club Queens Park Rangers commit to buying the Mariners. A decision is expected soon from QPR, although it's understood there is also a consortium of Australian businessmen interested in purchasing a stake in the Mariners on the proviso that Charlesworth retains 40 per cent of the club ownership. Meanwhile, star defender Brian Kaltak, whose departure from the Mariners was confirmed on Thursday, has joined Perth Glory on a multi-year deal. The 31-year-old Vanuatu international, who won two A-League championships and an AFC Cup during his three seasons with Central Coast, said it was 'time to try something new'. 'This a new chapter for me and I'm excited for it,' Kaltak said. 'This move will be good for me and good for my football.' In other A-League news, Macarthur FC has announced the departure of four players – left-back Ivan Vujica, right-back Yianni Nicolaou, and midfielders Danny De Silva and Peter Makrillos.
