Latest news with #Neilson
7NEWS
4 days ago
- Business
- 7NEWS
Australian farmers desperate for answers over unrealised capital gains tax as Jim Chalmers works to overhaul super
Should you be required to pay tax on money that you haven't earned yet? That's the question being asked around a new tax brought in as part of the federal government's changes to superannuation. Treasurer Jim Chalmers is looking to overhaul the way super is taxed, changing concessions for super balances over $3 million. But the sticking point for farmers and farming families is the new tax on unrealised capital gains. This new tax will mean if an asset held in super goes up in value, the account holder will be required to pay tax on that increase. With the threshold for this change set at $3 million, it is being sold as a 'rich people tax' but that doesn't show the whole picture. Jack Neilson, a cattle farmer from western Queensland, said the new tax was going to hurt hard-working Australians — 'especially in agriculture'. 'Jim Chalmers needs to realise he's not just catching the yacht-owning yuppies with this $3 million rich people tax that they are trying to sell it as,' Neilson said. Neilson pointed to the difficulties in getting young people into agriculture, calling it a 'minefield'. 'What a lot of farming families do is that, mum and dad, the operators put the actual property into a self-managed super fund,' he said. 'That way it is then leased to the next generation so that the next generation gets going and starts their farming careers, essentially, and mum and dad still make, a little bit of an income.' Nationals Leader David Littleproud told farmers were doing what they could to keep their property in their family. 'Farmers' properties are their superannuation,' he said. 'And that's why when self-managed super funds came in, many farming families put their properties into these self-managed super funds, because that was a way — a vehicle — for them to be able to bring the next generation through.' The unpredictable nature of income as a farmer has raised questions about the practicality of paying tax on unrealised gains as an increase in the value of the land doesn't directly point to an increase in income for a farmer. Katie Nash, a farmer and rural advocate, has also questioned the policy. 'If the land value goes up but the income stays the same, how are they supposed to pay the tax without selling the farm?' she said. 'How are they supposed to survive that?' However not everyone is sympathetic to the situation. Graeme Samuel AC, a professor at Monash University's Business School in Melbourne, said putting property into super wasn't about inheritance — but tax avoidance. 'For those that are caught with unrealised gains, what I'd say is question number one: how did you get into this position in the first place? Why did you put these assets into a super fund? And be honest about it, don't give us the myth that it's all about providing for the next generation, because that's what family discretionary trusts are designed to do,' he said. The National Farmers' Federation estimates around 3,500 farmers will be directly impacted by the new tax. And they maintain that where income is made, tax should be paid. But when the gains are unrealised, they argue the tax just doesn't seem fair or justified. President of the National Farmers Federation David Jochinke said the law was going to force families to sell up. 'It just baffles me why we're even talking about something where we haven't got either the capacity to pay, or it's going to force family farms to have to sell an asset that not only the parents require for their retirement,' he said. 'It also takes away from that family farming unit, which we all know needs to stick together — especially in tough times — to survive.' Jochinke wants the government to reconsider the legislation. 'The principle of having to pay a tax on an uncystallised asset is completely wrong and what we consider un-Australian,' he said. 'Let's actually have a talk about how we can manage superannuation when the assets crystallise, when farmers have got the cash to pay. And that's what we're just calling for. Let's make this a common sense piece of legislation, not a ridiculous one.' Sarah Tulloch, a farmer from NSW who has seen first-hand the impact of the pressures farmers, said she was worried about adding another pressure on the industry. 'They will lose a lot more than just their properties. There's farmers committing suicide daily just with what they've got going on at the moment with droughts and floods,' she said. 'To add this extra pressure, for people who are already doing it tough ... yeah, it's just not going to have good consequences.' Treasurer Jim Chalmers has repeatedly said he is committed to an overhaul on super taxation, saying it will make a meaningful difference in funding other priorities. reached out to the federal government in response to the concerns from farmers and farming families. 'We listen respectfully to the NFF and farmers but this is a modest change, introduced in a methodical way, that won't affect the vast majority of Australians,' a spokesperson said. 'Our changes only apply to about half a per cent of people with more than $3 million in super, who will still get generous tax concessions, just slightly less generous ones. The changes are all about making our superannuation system fairer and more sustainable.'
AU Financial Review
21-07-2025
- Business
- AU Financial Review
When money's no object, this is the architect to design your next home
When architect William Smart got a phone call from Judith Neilson to design her a new house, he knew it had the potential to dramatically alter the course of his career. He had already worked for the billionaire philanthropist once, overseeing the transformation of a World War II-era Rolls-Royce service depot in the inner-Sydney suburb of Chippendale into White Rabbit Gallery. But to Neilson's mind that was 'just a building'. She wanted a legacy. Her brief for the house was remarkably succinct; just one page long. She wanted brick floors, a waxed finish on the plasterwork for the walls and the whole building had to be manually operated rather than relying on home technology. It needed to last a century and it should also be the best house in Sydney. 'Then I thought that's pretty limited so I said the best house in Australia,' says Neilson. 'Then I thought, no, it should be the best house in the world.'
7NEWS
20-07-2025
- Entertainment
- 7NEWS
Wayne Carey roasted by ex-fiancee Kate Neilson in mocking video reenacting alleged toilet tryst
Wayne Carey's ex-fiancee Kate Neilson has mocked the controversial AFL champion with a reenactment of the viral video that he denies was the aftermath of a toilet tryst. In the video that began circulating last week, Carey was filmed putting his phone to ear as he emerged from the restrooms of a Melbourne bar just moments after a woman walked out. WATCH THE VIDEO ABOVE: Wayne Carey mocked by ex-fiancee in wake of viral video. Both Carey and the woman in the video, marketing executive Kate Aston, have slammed the people behind the camera and the sexual presumptions they triggered — suggestions the pair have both emphatically denied to be true. But that hasn't stopped Neilson, who had a rocky four-year relationship with Carey during the late 2000s, from poking fun at the man she was once engaged to marry. The Australian actress and model posted a video of herself looking deliberately sheepish as she came out of a toilet, moments before her partner emerges from the same door and pretends to take a phone call. The video was posted with a duck emoji in the bottom right corner. One of Carey's nicknames is 'Duck'. It is also scored by the audio of Coldplay frontman Chris Martin's reaction to the viral cheating scandal that his band inadvertently uncovered earlier this week. Aston says her life has been suddenly turned 'upside down' and her 'suffering over recent days has been colossal'. Melbourne marketing executive Kate Astin is taking legal action after being filmed leaving a bathroom, sparking a scandal involving former AFL player Wayne Carey. She has called the video a 'deliberate act of bullying' and says she will now take legal action against the people who filmed it and made it public. In the video, an unseen woman can be heard saying 'she looks embarrassed' before someone else says 'what's he doing in there?'. The relationship between Carey and Neilson is most infamous for an incident in the US in 2007 when Neilson suffered a bleeding lip after it was allegedly hit with glass. Last November, she expressed her public disgust after Carey downplayed both the incident and their relationship. Carey said on a podcast last year that it was 'an incident with a girl that I was seeing on and off, I wouldn't call her a girlfriend'. 'Wayne's story about the glassing in Miami has again changed from when he did the Andrew Denton story (in 2008) saying he didn't mean to break the glass on my face, but now he is saying he threw the glass on the ground,'' Neilson fired back with last November. 'He was locked up in jail for a reason. Not because he poured wine on my face. I was bleeding profusely and the FBI took photos, which I have. 'So, to say I was hardly a girlfriend is insulting when I lived with him for years and he flew to Tasmania and met my family, wrote about my dad in his autobiography and I was engaged to him. 'I'm extremely insulted by the downplay of all of this.' Carey has four children, two of which he shares with his current partner, Jessica Paulke. Wayne Carey says he will take legal action against the people who filmed him in this video.
Scotsman
16-07-2025
- Sport
- Scotsman
Hearts exit explained as star states his Premiership goal after joining league rival
The talent has moved across the Premiership to work with a former Hearts manager. Sign up to our Hearts newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... A Hearts defender has a Premiership aim in mind as he builds more senior experience away from Tynecastle. Lewis Neilson has joined top flight newcomers Falkirk on a season long loan, having spent part of last term at St Johnstone and the second half back with Hearts. The 22-year-old had a brief spell at Falkirk in 2021 on loan from Dundee United and witnessed first hand the Bairns' potential even though they were in the lower leagues at that time. Advertisement Hide Ad Advertisement Hide Ad He is now back and working under ex Hearts boss John McGlynn, with the Championship winners smashing Brechin City 7-0 in their first Premier Sports Cup group stage game. Neilson is delighted to have debuted again in navy and detailed reasons for his switch. Why Hearts player has joined Falkirk He told club media: 'Delighted to be back. I obviously had that short stint here when I was 17 years old, but I'm really delighted to be back, obviously, under different circumstances. The team is now in the Premiership and looking like we could potentially have a good season after the first couple of games I played here. But yeah, Saturday was good. 'We knew it was going to be about our attitude more than anything. We're obviously a much better side with much better quality players, but we needed to bring the right attitude in order to make it a game that was going to be favourable to us. The conditions were hot, but we got the ball down and we played as well as we could given the pitch conditions. Yes, it was not a bad result to start the group off. ' A clean sheet is massively important, especially for me as a defender. That's what I need to pride myself on .So, it was good to get a clean sheet the other night against St Johnson in the friendly and then again. So, hopefully that can continue. The boys do look really fit. I've only been in here a week now, so I missed the brunt of pre-season. But the boys are looking sharp, so that should stand some good stead for going into the season.' Advertisement Hide Ad Advertisement Hide Ad Falkirk's Premiership aim Now, a place in the top six is being sought. Neilson added: 'I was really excited to be coming back. I watched a lot of the games in the Championship last season and the boys had a really good season winning the league and playing a really attractive style of football as well, which is what excited me about coming back. So yeah, the boys have been great. They've all been brilliant. So, I've settled in really quickly and two quick games obviously helps that as well. 'I spotted the size of the club from the day I was in here five years ago now and I knew the potential it had. So, to see what the boys have done over the last few years, obviously winning League One and the Championship back-to-back, it's brilliant to see. They've always had the support, they've always had good facilities to go and achieve in the Premiership, so hopefully we can do that this season. 'I just want to play as many games as possible, which you do when you're on loan. I want to gain more Premiership experience and hopefully be part of a side that can push for top six this season in the league.'
Scottish Sun
15-07-2025
- Sport
- Scottish Sun
Ex-Hearts boss Robbie Neilson back in football – as assistant to former Hibs manager
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THEY went head-to-head in the dugout in the Edinburgh derby. Now former Hearts boss Robbie Neilson has linked up with his old Hibs rival in Belgium. Sign up for Scottish Sun newsletter Sign up 2 Robbie Neilson is back in football in a surprise new role Credit: Andrew Barr 2 He has reunited with Lee Johnson abroad Credit: SNS Neilson, 45, has reunited with ex-Hibs boss Lee Johnson as his No2 at Belgian outfit SK Lommel in a surprise appointment. Neilson has been looking for his next role in football ever since he was axed by USL Championship club Tampa Bay Rowdies in April. The former Hearts manager and captain was appointed manager of the American club in 2023 and stayed there for two years before his dismissal earlier this year. That was his first manager job since being given the boot by the Jambos and his first gaffer role outside of the UK following stints at MK Dons and Dundee United, as well as the Gorgie side. Now he's back in football after a three-month exile, where he will begin working alongside Johnson at the City Football Group club. Johnson was appointed Lommel manager in March after a short spell working with Manchester City in a role which saw him prepare their fringe and development players ahead of the 2024/25 season. Lommel currently play in the Belgian Pro League - the nation's second division - where they finished in 11th place last season. Neilson will begin working with the team right away alongside Robin Henkens who will also serve as an assistant to Johnson. The ex-Hearts boss told the club's website: "I spent a few days in Lommel at the end of last season. "I was very impressed with the professional work environment and the talent within this group. Robbie Neilson Released by Rangers, finding a home at Hearts, and splitting the Old Firm "The discussions that followed were excellent, and I'm thrilled to be joining this club. Together with the rest of the staff, we'll do everything we can to get the most out of this group!" Neilson and Johnson crossed paths in Edinburgh in the 2022/23 season when the Englishman took over at Easter Road. Johnson failed to beat his counterpart on three occasions as the first meeting ended in a 1-1 draw, while Hearts came out on top in the next two meetings with 3-0 wins, including a Scottish Cup triumph at Easter Road. Neilson was axed in April, 2023, just days before Johnson picked up his first and only win over the Jambos. Keep up to date with ALL the latest news and transfers at the Scottish Sun football page
