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The Latest Breaking News from Jim Chalmers

Superannuation tax changes will not be indexed, says treasurer. Here's what that means

The federal government has proposed changes to super tax concessions. What exactly are they and what will it mean for you?

ABC News

Alan Kohler: The superannuation tax increase is a dress rehearsal

Jim Chalmers has hit upon a clever way to seek an election mandate for superannuation tax increases but book the revenue straight away.

The New Daily

Inflation still the 'defining challenge' as Australia's economic activity slows

Australia has recovered better than most from the COVID pandemic. As measured by gross domestic product (GDP), the economy is now 7% larger than it was before the pandemic.

The Conversation

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read the most diverse news in one place.

An attack on middle Australia? Unpacking the claims over Labor’s new super policy

A 30% tax rate will be applied to super above $3m. But you’d need to earn $200,000 for your entire working life to even come close to that sum

The Guardian - AU

Afternoon Update: ‘Worst of inflation behind us’; China angry over TikTok bans; and why you should walk 11 minutes a day

Australia’s economy loses steam as interest rates bite

The Guardian - AU

The US is considering a nationwide TikTok ban over Chinese spying concerns. Could Australia follow suit?

Multiple governments have already pursued similar bans, citing espionage fears. Could Australia be next?

ABC News

Government urged to use superannuation tax concession changes to expand Paid Parental Leave scheme

Crossbenchers say the treasurer should "absolutely" use some of the cash recouped from proposed super changes to pay superannuation on Commonwealth Paid Parental Leave, arguing it could rectify the current "glaring gap" in support for new parents.

ABC News

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Today show joins super wars with swipe at mega-rich battlers

A TV journo has poured fuel on the debate over super concessions with a brutal takedown in a ritzy Australian suburb.

The New Daily

Watch: Economic outlook, Accused killer extradited, Cough medicine recall

Watch: Australia's GDP has risen by 0.5 per cent during the December quarter, falling short of predictions. We cross live to Treasurer Jim Chalmers to

The New Daily

Denied Chinese rare earth bid ‘helps mitigate risk’

Treasurer Jim Chalmers has rejected a Chinese investment fund's bid to increase its stake in a rare earth company on national security grounds.

The New Daily

Denied Chinese rare earth bid 'helps mitigate risk'

Treasurer Jim Chalmers has rejected a Chinese investment fund's bid to increase its stake in a rare earth company on national security grounds.

AAP

Albanese rejects changes to capital gains tax on the family home, ‘full stop, exclamation mark’

Prime minister says it’s a bad idea to change the capital gains tax concessions on family homes

The Guardian - AU

Australian government seeks advice on TikTok

Chinese-owned social media app TikTok is facing bans across a number of foreign governments, as Australia seeks advice on security risks.

The New Daily

Coalition vows to repeal super tax changes if elected

Opposition Leader Peter Dutton has vowed to repeal changes to superannuation tax concessions if the Coalition wins the next federal election.

The New Daily

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ABC News

Superannuation taxation increase to accounts over $3m not a broken promise, prime minister says

Prime Minister Anthony Albanese says he has not broken an election promise not to make any changes to superannuation, saying the change for the largest super accounts will take effect after the next federal election.

ABC News

Federal government blocks Yuxiao Fund's bid to increase its stake in Northern Minerals

Treasurer Jim Chalmers blocks Yuxiao Fund's application to the Foreign Investment Review Board to increase its stake in Northern Minerals Limited from just under 10 per cent to nearly 20 per cent.

The Guardian - AU

Super reforms a ‘good start’ but Labor under pressure on stage-three cuts and parental leave

Crossbenchers welcome changes but some say government should revisit other tax concessions that have become ‘taboo’

The New Daily

What a cap on superannuation tax concessions means for you

Changes to superannuation will crackdown on tax breaks for the wealthy, alongside a new purpose for the system.

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The New Daily

Time to get real about funding government services, Treasurer Jim Chalmers says

"Every dollar that's spent on a tax break for people with tens of millions of dollars in super is a borrowed dollar ..." Chalmers said.

The Guardian - AU

Labor could have unleashed a fiscal chainsaw massacre – instead it opted for a cautious hop on superannuation

The Albanese government has climbed on to the starter’s block for budget repair with its move on super tax breaks

Newcastle Herald

Newcastle's historic Greater, Perm banking merger begins today

The merged entity's priorities will be "retaining and growing our customers".

The Conversation

Tax-free super for the super rich is a bad deal for the rest of us – and Morrison said it first

You’d be forgiven for thinking Treasurer Jim Chalmers had done something dramatic.

The Guardian - AU

Afternoon Update: tax hike on $3m super balances; robodebt inquiry ‘double down’ claim; and a Test cricket classic

Balances of more than $3m will be taxed at 30%, up from current concessional rate of 15%

The Conversation

Albanese government to hike tax on earnings from big super balances – but not until 2025-26

The tax rate on earnings from superannuation balances above $3 million will double to 30% from 2025-26.

The New Daily

Tax concessions for super rich to be reduced

Generous tax concessions on superannuation will be reduced, returning $2 billion a year to the budget, the government has announced.

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