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Treasurer Jim Chalmers under fire for refusal to ‘take feedback' on superannuation tax changes
Treasurer Jim Chalmers under fire for refusal to ‘take feedback' on superannuation tax changes

Sky News AU

time02-07-2025

  • Business
  • Sky News AU

Treasurer Jim Chalmers under fire for refusal to ‘take feedback' on superannuation tax changes

Treasurer Jim Chalmers has been accused of refusing 'to listen' after he repeatedly rejected calls from a litany of groups to index the government's 'flawed' unrealised gains tax on super accounts. Opposition to Labor's plan to double the tax rate from 15 to 30 per cent on super accounts over $3 million has picked up pace, with former prime minister Paul Keating and secretary of the Australian Council of Trade Unions' Sally McManus blasting the government for not indexing the policy. Mr Chalmers is being urged to dump or drastically overhaul the plan ahead of the upcoming economic reform roundtable. It comes as after a report from Wilson Asset Management revealed the move would inflict a $20 billion hit to the budget over four years, with an array of small growth businesses and startups forgoing billions in tax revenue. Liberal MP Aaron Violi blasted the Treasurer for declining to heed the advice of a long line of industry experts and said the government should be willing to make concessions if it wanted to tackle stagnating productivity. 'It's clear these changes to superannuation indexation are not supported by Sally McManus at the ACTU. Paul Keating let the cat out of the bag yesterday about indexation, that most if not all Australians ... will now be hit,' Mr Violi said. 'Indexation is one of those red lines for us as a Coalition because we know more and more Australians will hit that $3 million mark in the future and the reality is that $3 million today will be different to $3 million in ten, twenty and thirty years. 'Jim Chalmers has to be prepared to listen and take the feedback, and I don't know anyone outside of Jim and Anthony Albanese that think this is a good proposal.' Chairman and Chief Investment Officer at Wilson Asset Management Geoff Wilson also despaired that young Australians entering the workforce today would be caught up in the tax due to wages and inflation shifts over time. "In terms of destroying the aspirations for young Australians, that's what this tax on unrealised gains is going to do,' Mr Wilson said. He also savaged the government for taxing unrealised capital gains which is widely considered an unprecedented move that goes against decades of Australian taxation theory. 'It's illogical, it's flawed, some people are saying it's s criminal theft, paying tax on a profit or a gain you may never make.' Mr Wilson told Sky News he would be penning a formal submission to the government's productivity roundtable containing his fund's dire findings and arguing that the tax would be a productivity killer. Mr Violi railed against the government for targeting unrealised gains, and said the move was sparking alarm and outrage among his constituents. 'That principle of taxing unrealised capital gains, farms in my community and others that might have a paper profit but they don't actually have the money to pay an extra tax on that, they are the two red lines for us,' Mr Violi said. Labor MP Julian Hill told Sky News that the change would only impact a modest amount of wealthy Australians. 'We took the tax change to the election, we have a mandate, that's our position, I think that we've won that argument with the Australian people.'

The Liberal party is ‘aware' of their lack of preference agreements with other parties
The Liberal party is ‘aware' of their lack of preference agreements with other parties

Sky News AU

time14-05-2025

  • Politics
  • Sky News AU

The Liberal party is ‘aware' of their lack of preference agreements with other parties

Liberal MP Aaron Violi says the Liberal Party is 'aware' of the preference flows and how they influence the outcome of an election. Mr Violi claims there is an 'unofficial agreement' between Labor and the Greens, which Prime Minister Anthony Albanese will 'never admit'. 'In no way that we are saying that the voting system is the reason that we're in Opposition and that we got the result that we got,' Mr Violi told Sky News host Peta Credlin. 'We need to ultimately … put forward great policies that are going to increase our primary. 'It has been an ongoing challenge for us.'

Joseph Violi has been appointed General Manager at Cypress Inn
Joseph Violi has been appointed General Manager at Cypress Inn

Hospitality Net

time05-05-2025

  • Business
  • Hospitality Net

Joseph Violi has been appointed General Manager at Cypress Inn

Denny Levette, owner of the treasured Cypress Inn in Carmel, announced today the appointment of renowned veteran hotelier, Joseph Violi, as General Manager. Violi, a graduate of Cornell University's School of Hotel Administration, brings over 35 years of experience in managing luxury hotels, golf, and beach resorts. His impressive career includes leadership roles at esteemed properties such as Ritz-Carlton, Laguna-Niguel; Ritz-Carlton, Buckhead, Atlanta; Ritz-Carlton, Aspen Swissotel Chicago; Hyatt Hotels; Hilton Hotel in Sonoma, California and Key West, Florida; and Carmel Valley Ranch. Cypress Inn has long been celebrated for its pet-friendly atmosphere, with Sunset Magazine calling it "probably the most famous dog-friendly hotel in the country." Violi remarked, "Honoring the legacy created by Doris Day and Denny Levett—blending Old World charm with exceptional service—will be the pinnacle of my hospitality career." Violi also brings extensive expertise in hotel marketing and food & beverage operations. His passion for the culinary arts is evident through his involvement with esteemed organizations such as the international Chaine des Rôtisseurs and Les Toques Blanches. In addition to managing Cypress Inn, Violi will oversee operations at Carmel's Lamp Lighter Inn and Forest Lodge. Originally from Massena, N.Y., where his family owned a restaurant for 70 years, Violi now resides locally with his prized dog, Dino Ferrari, a Vizsla. View Joseph Violi's LinkedIn Profile Joseph Violi is a graduate of Cornell in Ithaca, New York - United States

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