Tag: labor

Revealed: Labor’s stealth ‘super tax’ to cost retirees | Why selling your shares is about t…

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Why selling your shares is about to become more taxing

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If you think about some of the richest people in the world, the majority of them have one thing in common. Their wealth, in all its gross excess, is not just sitting in their bank account or in big dollar-sign bags in a bank vault somewhere. It’s almost all tied up in shares and other investments, which they would have to sell if they actually wanted to buy a new yacht or something.

Overlooked capital gains rule could see Labor target $372b worth of super assets

New analysis has found the Albanese government’s capital gains rule changes could target about $372 billion worth of assets, forcing superannuants to cough up an extra $55 million a year.

New analysis has found Labor's capital gains rule changes could target about $372 billion worth of assets, forcing superannuants to cough up an extra $55 million a year collectively.

Analysis by the Financial Services Council (FSC), published by The Australian, found Labor’s budget overhaul restricts how managed investment trusts can offset capital gains and losses.

This means millions of Australians with investments in this type of asset could be forced to pay more at tax time.

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August 25, 2026
Labor, NAACP leaders weigh in on Columbus City Council overhaul | Labor and Black leaders raise c…

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Labor, NAACP leaders weigh in on Columbus City Council overhaul

After decades of debate over whether Columbus City Council should switch from an at-large election system to district representation, the districts question is again heading to voters.

But a second, more complicated question could also appear on the ballot. Columbus City Council has effectively a week to decide whether to place a proposal on the ballot alongside the citizen-led Our City, Our Say coalition's "simple fix."

At a hearing on Aug. 17, multiple City Council members and the vast majority of speakers expressed support for district representation, but some want to preserve a few at-large seats. Influential leaders for city labor and civil rights groups for the first time weighed in publicly and came out in support of council addressing more complex reforms.

Labor and Black leaders raise concerns on Columbus City Council reform effort

Dozens of Columbus residents voiced support for changing how Columbus City Council members get elected, but a small influential contingent of Black community leaders and labor unions raised concerns about the measure.

Council held a second public hearing Monday regarding efforts to reform city council and how members get elected. City council is set to vote Monday to place the Our City Our Say charter amendment on November's ballot, which would make it so only voters within each of the nine council districts get to vote for their representative.

Council's current system has been the subject of ridicule since November's general election in District 7 where Tiara Ross won the seat citywide but lost within the bounds of her district to challenger Jesse Vogel.

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August 18, 2026
Labor prepared to fast-track fix to negative gearing ‘widow tax’ | Taylor demands Albanese repeal…

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Labor prepared to fast-track fix to negative gearing 'widow tax'

Jim Chalmers says the government is willing to bring forward a fix to an unintended loophole. (ABC News: Ian Cutmore)

The government has signalled it is willing to fast-track a fix to its unintended "widow tax", which is cutting off people from eligibility to negatively gear a home when their partner dies.

The Coalition has demanded an immediate fix to the loophole created by negative gearing changes in return for its support for a $37 billion savings plan for the NDIS.

The federal government is hoping to settle negotiations on its NDIS savings package so it can be passed this week.

Taylor demands Albanese repeal ‘cruel tax’ in return for NDIS bill support

Coalition leader tells Anthony Albanese that delaying change to budget measure is âunconscionableâ

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Angus Taylor says the Coalition will only support the Albanese governmentâs proposed overhaul of the NDIS if it first removes the âwidow taxâ loophole from its changes to taxing investment properties.

The warning comes as the Albanese government hopes to land a deal with the opposition this week in order to pass the bill in the Senate after the Greens ruled out supporting changes to the scheme that are expected to boost the federal budgetâs bottom line by $37.8bn over four years.

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August 18, 2026
Labor open to ‘sensible amendments’ on gambling reforms, minister says – as it happened | ‘…

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Labor open to ‘sensible amendments’ on gambling reforms, minister says – as it happened

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Liberal frontbencher Tim Wilson also called on the government to focus more on fraud and corruption issues in the NDIS, as the Coalition and Labor negotiate on changes to the disability scheme.

The governmentâs bill is being examined by a parliamentary committee, with a report due this coming Friday. Labor may seek to bring that bill back on for debate and vote in the second week of this coming parliamentary sitting.

Wilson accused the government of âan ongoing toleranceâ to fraud in the system. The NDIS minister, Jenny McAllister, was on News24 this morning also, and weâll get you some of her contributions shortly.

'We die': disabled voices warn against NDIS cuts

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A verbal agreement has been struck between Australia's two major political parties to cut billions of dollars in funding to the disabled community.

Prime Minister Anthony Albanese met with Opposition Leader Angus Taylor on Monday at Parliament House to discuss laws making significant changes to the National Disability Insurance Scheme.

"I expect those changes will pass in this sitting fortnight, which will be important to make sure that it's sustainable going forward," the prime minister told a caucus meeting.

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Labor rejects call for more NDIS oversight, nears Coalition deal

Labor has rejected calls to appoint an independent umpire to oversee a shake-up of the National Disability Insurance Scheme as it closes in on a deal with the Coalition to push through its cuts to the program without major amendments in the next fortnight.

Martin Laverty, one of the scheme’s architects who now runs a major disability provider, said on Monday the program needed a steward to keep the government in check in the same way an inspector-general monitors Australia’s aged care system.

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August 10, 2026
Labor unveils ‘widow tax’ fix after negative gearing backlash | It’s not only a widow tax. New …

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Labor unveils 'widow tax' fix after negative gearing backlash

Jim Chalmers says the proposed legislation would ensure Labor’s tax changes applied to people in a range of circumstances. (ABC News: Ian Cutmore)

Labor has proposed changes to ensure people who inherit an investment property from a spouse do not lose existing access to negative gearing.

The government is also consulting on carve-outs and changes covering newly built homes, affordable and disability housing and its new capital gains tax system.

The public has two weeks to give feedback on the proposal and Labor is flagging further tranches of legislation implementing its tax changes.

Australians who inherit an investment property from their spouse will not lose any existing negative gearing access under changes proposed by Labor to fix the so-called "widow tax".

It’s not only a widow tax. New CGT hurts mothers too

By decoupling capital gains taxation from individual marginal tax rates, the new regime systematically penalises women when taking time out of the workforce.

Female workforce participation rates are at record highs, the government’s Paid Parental Leave (PPL) scheme now spans 26 weeks, childcare subsidies have expanded, and the gender pay gap is at a historical low.

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Widows and divorcees protected as Labor reveals details of tax backdown

Widows and divorcees who faced losing access to capital gains and negative gearing concessions under the federal government’s budget overhaul of property taxes will be protected under a suite of changes revealed by Treasurer Jim Chalmers.

Amid growing criticisms of Chalmers’ handling of the reforms aimed at making housing more affordable for younger Australians, the treasurer on Tuesday confirmed key details of the government’s planned amendments to controversial tax legislation.

It was revealed in June that jointly owned assets, such as a property owned by a couple, would not qualify for the grandfathered exemptions to the budget changes to negative gearing and capital gains tax if they were transferred to single ownership.

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August 4, 2026
Extraordinary meeting of Labor conveners resolves to move against Jacinta Allan | Victorian Premi…

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Extraordinary meeting of Labor conveners resolves to move against Jacinta Allan

An internal Labor Party campaign to dump Jacinta Allan as Victorian premier reached a critical stage on Sunday night after an extraordinary meeting of factional conveners resolved to move against her leadership.

The meeting of conveners from across the party’s Left and Right factions was called to determine whether Allan has the caucus backing she needs to lead the government to the state election on November 28.

Four sources with knowledge of the meeting said the room broadly agreed that after nearly three years as Premier, Allan’s days in the top job are numbered. It is less clear how a leadership challenge will unfold.

Victorian Premier Jacinta Allan facing leadership challenge this week

The ABC understands Victorian Labor factional powerbrokers have met to discuss whether Jacinta Allan still has the support of the majority of the caucus, and has decided she does not. (ABC News: Danielle Bonica)

Four months out from the state election, Premier Jacinta Allan is facing a leadership challenge.

Factional powerbrokers met on Sunday night to discuss whether Ms Allan maintains the support of the caucus, and agreed she does not.

It is understood Ms Allan will be offered the opportunity to resign on Monday, and if she refuses, is expected to face a leadership challenge on Tuesday.

Premier Jacinta Allan faces a leadership challenge this week, four months out from the November state election, despite core supporters talking down the threat of a spill.

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July 26, 2026
Labor takes a stand on data centre rules and AI copyright | What Albanese didn’t say about AI a…

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Labor takes a stand on data centre rules and AI copyright

Anthony Albanese says AI companies will not be able to use Australian books, music, art or news to train AI "without the artist's control". (AAP: Dan Himbrechts)

A new set of standards for artificial intelligence will provide clear rules for data centres, forcing them to minimise water usage and underwrite or supply their own power.

Anthony Albanese vows that AI companies will not be able to use Australian books, music, art or news to train AI "without the artist's control".

The prime minister will seek agreement from state premiers and territory chief ministers over the new set of standards at a national cabinet meeting next month.

What Albanese didn’t say about AI and IR is the real concern

Much of the action in determining Labor’s position will be on the ALP National Conference floor next week.

The distance between Western Australia’s Pilbara and the University of Sydney is about 3600 kilometres.

Yet it’s worth thinking about the connection between Thursday’s landmark industrial action at BHP’s Port Hedland iron ore operations and Wednesday’s headland speech on artificial intelligence by Anthony Albanese at the nation’s oldest university campus.

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July 15, 2026
Labor capitulates on ‘widows tax’ after crossbench revolt over CGT | Labor reverses another c…

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Labor reverses another controversial element of its tax changes

The Albanese government has been forced to reverse yet another element of its controversial budget reforms after intense backlash to its "widows tax".

Labor is making another change to its controversial tax legislation as backlash over the laws has forced the government to back down again on its budget reforms.

Treasurer Jim Chalmers will axe elements of the government's negative gearing and capital gains tax changes, which would have impacted divorcees and widows.

Dubbed the "widows tax", the measure would have scrapped grandfathering exemptions for those property tax changes in the case of a divorce or a death.

This was expected to impact about 680,000 properties owned before Mr Chalmers’ budget address.

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June 25, 2026
Labor MPs prefer Ebola talk to budget in quiet caucus meeting; Liddell chimneys demolished | Bowe…

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Bowen’s side role at international summit will cost taxpayers almost $150m

Australia will spend nearly $150 million on Climate Change Minister Chris Bowen’s side role as president of negotiations at the United Nations’ next climate conference, as well as on supporting Pacific nations to participate in the global event.

During a Senate estimates hearing on Monday, Environment Department officials told Liberal senator Sarah Henderson that the May budget had allocated the funding – which includes 70 full-time equivalent staff – in the lead-up to the 31st Conference of the Parties meeting in November, otherwise known as COP31.

Bowen was appointed to the role of president of negotiations for COP31 as a consolation prize after the Albanese government withdrew its bid to host the summit, ceding the rights to Turkey.

Australia politics live: Alex Antic cites ‘dream team’ of Abbott, Canavan and Taylor as inspiration for bid to lead SA Liberals

Opposition leader asks PM to declare which small businesses will receive a carve out from ‘broken promises and higher taxes’. Follow today’s news live

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Bowen is asked by my colleague Dan Jervis-Bardy, about the Guardian’s reporting on a leaked internal memo from mining company BHP that it’s delayed or stalled key climate projects to reduce emissions.

The energy minister brushes off some of the concerns and says that he’s made his expectations on emissions reductions with emitters “crystal clear” both publicly and privately.

Bowen says there are some challenges around the technology available to reduce emissions but that either way BHP has to abide by the government’s safeguard mechanism.

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May 26, 2026
Labor walks tightrope as tax overhaul alarms startups and investors | Money advice: I make $180k …

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Labor walks tightrope as tax overhaul alarms startups and investors

Anthony Albanese (left) says the government is consulting on how to ensure tax changes do not disproportionately hurt startups and venture capital. (ABC News: Matt Roberts)

Labor MPs say many Australians have responded positively to housing tax reforms, but there is concern that changes to capital gains tax and discretionary trusts will become a tough sell.

Uncertainty around the tax measures is fuelling opposition among some young investors and business owners, while the Coalition says Labor is trying to freeload off entrepreneurs.

The federal government is consulting on how it can prevent unintended consequences for startups and will offer transition support for small businesses as they restructure to avoid the new tax on discretionary trusts.

Money advice: I make $180k a year through my trust. How will the new tax affect me?

My wife and I are in our late 50s and operate a small business through our family trust. The profit is usually about $180,000 a year, and that’s distributed as $60,000 each to my wife, myself and our 19-year-old daughter, who is at university. How are we likely to be affected by the proposal to levy a flat tax of 30 per cent on family trusts?

You are likely to be hit hard. Under the present arrangements, you probably pay about $9000 tax a year each. That’s a total of $27,000 in tax if the money is distributed equally among the family. Under the proposed arrangements, the trust would cop a flat tax of 30 per cent, which would be $54,000, so your tax would effectively double.

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Small businesses fear budget changes will take profits

Start-up founders are concerned capital gains tax changes will take their profits and stifle future innovation.

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May 20, 2026