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Coalition to unveil new tax plan before election
Jane Hume says the income tax policy will seek to restore balance to the system; she accuses Labor of rewarding terrorism by backing a Palestinian bid for full UN membership. Follow updates here.
Key Posts
Taylor calls for return to Costello-era fiscal rules
Australia’s UN vote for Palestine rewards terrorism: Hume
Coalition to unveil new tax plan before election
Budget must tackle inflation: Hume warns Chalmers
Last updated 1 hr ago
Defiant Israel orders more Palestinians to flee Rafah
Benjamin Netanyahu insists that he must maintain military pressure in Gaza to eradicate Hamas despite warnings from the US and others.
- Exclusive
- Media & marketing
Anchorage pulls out of ARN Media’s Southern Cross takeover plan
The private equity firm has withdrawn from the bid which would have, if successful, radically reshaped the country’s radio market.
Inside Project Constantine, the plan to sell Perpetual
Soul Patts’ $3 billion offer for the asset manager set the stage for whirlwind negotiations and accelerated a sale that private equity firms had eyed for years.
US plans to impose major new tariffs on Chinese EVs
Tariffs on electric vehicles could quadruple to 100 per cent when the Biden administration details its plans next week.
- Analysis
- Federal budget
The budget that could be make or break for Labor
Jim Chalmers is gearing up for his third and most important budget. If he spends too much and stokes inflation, he knows he’ll own the next rate increase.
Russia ‘captures key villages’ as Ukraine races reinforcements
Russian military bloggers say the assault in the northeast could mark the start of an attempt to carve out a “buffer zone” sought by President Vladimir Putin.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
weekend reads
- Exclusive
- Antisemitism
Lowy’s lament: ‘I know how insidious antisemitism can be’
Sir Frank Lowy experienced hatred against Jews first hand in Hitler’s Europe, and is shaken by what he now sees “leaking out of decent people” in Australia.
Halting the bombs: Biden’s gamble to rein in Netanyahu
The US president paused a weapons shipment to Israel, piling pressure on Israel’s leader to change course. Will it work?
The $13.6 trillion question: how do we pay for the green transition?
The private sector will have to provide about 70 per cent of climate finance globally, and the heat is building on governments to deliver policies that do that.
- Analysis
- US election
Trump’s long week in court as election looms
Stormy Daniels’ allegations of a sexual encounter with Trump set the courtroom alight this week. How they play into his election chances is unclear.
Michele Bullock’s run of good news may be about to end
RBA governor Michele Bullock has proven a better communicator than her predecessor Philip Lowe. But her real test may still be yet to come.
smart investor
A smarter way to tax high super balances
The government has tried to keep things simple, but in doing so fairness has gone out the window.
Love or money? What to tell kids about career choice
Do you tell them to do what they love or urge them to become a doctor, accountant or a lawyer because it will provide financial security?
- Opinion
- Interest rates
RBA’s credibility at risk as central banks confront interference
The contradictions in the Reserve Bank of Australia’s communications reveal policy conflicts that could erode its already embattled credibility, writes Christopher Joye.
We have $700,000 in super – can we buy investment property with it?
If you want to add a geared investment property to your retirement savings, here’s what you must think about.
- Opinion
- Flat Chat
Building commissioner’s parting warning for property developers
David Chandler’s legacy includes an army of inspectors able to identify the developers most likely to produce suspect buildings.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
- Investigation
- Rich List
For this Rich Lister, does the reality live up to the hype?
Property mogul and entrepreneur Shaun Bonett has a fortune of more than $2 billion, according to the Rich List. Those valuations might not live up to the hype.
Lex Greensill alleges his UK pursuers were protecting David Cameron
The fallen Aussie financier alleges media leak by Britain’s Insolvency Service, which is seeking to ban him as a company director, were politically motivated.
Anglo’s South African investors open to improved BHP bid
The shareholder stance defies South African government hostility to the plan that would break up the national champion.
PE firm behind Bonza calls in insolvency experts
The private equity firm called in advisers overnight to assist with “operational challenges”. It is a major shareholder in the A-League club and budget airline.
- Exclusive
- Tax avoidance
Lendlease hit with $112m tax bill over retirement business
The property group has been hit with an initial $112 million bill from the Tax Office, in a dispute that could ultimately cost it more than $300 million.
- Analysis
- Earnings season
Can the banks fight their way out of the commodity trap?
It’s hard to see how the banks can meaningfully increase profit margins unless the trend towards mortgage brokers reverses.
Women’s basketball chases investors for $20m-plus slam dunk
The WNBL is for sale. It’s attracted interest from Aussie rich-listers to offshore funds.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Confession season kick-off fails to derail ASX run
Fund managers say this year’s Macquarie Australia Conference was among the least eventful in recent memory – and that may be a good sign for investors.
Jim Simons, ‘quant king’ at Renaissance Technologies, dies at 86
The mathematician-investor created what many in finance consider the world’s greatest moneymaking machine at his secretive firm.
Fed’s Logan says still too early to think about rate cuts
Lorie Logan, the president of the Dallas Fed, flagged uncertainties over how restrictive monetary policy is.
Crypto miner spruiked 16pc returns for five years without a licence
A Gold Coast cryptocurrency miner was authorised to provide financial services for less than seven months despite operating for six years.
Cabal of industry super funds, led by investors, weighed ASX takeover
The ASX is an essential piece of infrastructure, and has a quasi-monopoly position, a description that would fit Sydney Airport, for instance, which went private in a $23.6 billion takeover.
Opinion
Australia wants more than the Lucky Country can deliver
Successive terms of trade booms – the envy of other nations – have allowed Australian governments to splurge. But now it seems that even that is not enough.
Editorial
Budget week is time for Dutton to roll a few Jaffas down the aisle
In the same week Peter Dutton went in to bat for the koalas, Labor flew the flag for gas.
Political editor
No more gaming the system, says High Court
The High Court has sent a clear message: those “manipulating the system” won’t be rewarded with a get-out-of-detention free card.
Legal editor
RBA’s credibility at risk as central banks confront interference
The contradictions in the Reserve Bank of Australia’s communications reveal policy conflicts that could erode its already embattled credibility.
Columnist
GST and gas show a government that’s still out of tune
A huge GST handout to WA and a report that gives a free pass to the state’s gas industry show how far parochial toadying in the west will go.
Columnist
China’s grim pattern in South China Sea needs a collective response
A quiet tussle is going on over China’s ambitions to control all of its neighbouring seas. Affected countries need to unite before China miscalculates.
Defence expert
Reports
BOSS Best Places to Work
The awards celebrate the achievements of the best small, medium and large organisations and nine sector winners.
Politics
Australia’s ‘yes’ vote on Palestine at UN slammed by Labor MP
Penny Wong said Australia’s support for Palestinian statehood will help to broker peace, but a Labor MP has argued it will further isolate Jewish Australians.
- Analysis
- Immigration
No more gaming the system, says High Court
The High Court has sent a clear message: those “manipulating the system” won’t be rewarded with a get-out-of-detention free card.
Military tensions flare on the road to stability with China
A near miss between a Chinese fighter jet and Australian helicopter show that friction remains despite improvement in ties between Beijing and Canberra.
- Opinion
- Federal budget
GST and gas show a government that’s still out of tune
A huge GST handout to WA and a report that gives a free pass to the state’s gas industry show how far parochial toadying in the west will go.
- Exclusive
- Interest rates
RBA board split in doubt as Libs dig in
The impasse between Jim Chalmers and Angus Taylor means the new RBA interest rate setting board will not be up and running by its planned start date of July 1.
SPONSORED
World
Ken Griffin urges Harvard University to embrace ‘western values’
The hedge fund founder who has given his alma mater over $US500 million has slammed the pro-Palestinian protests sweeping colleges as “almost like performative art”.
US plans to impose major new tariffs on Chinese EVs
Tariffs on electric vehicles could quadruple to 100 per cent when the Biden administration details its plans next week.
- Analysis
- US election
Trump’s long week in court as election looms
Stormy Daniels’ allegations of a sexual encounter with Trump set the courtroom alight this week. How they play into his election chances is unclear.
Defiant Israel orders more Palestinians to flee Rafah
Benjamin Netanyahu insists that he must maintain military pressure in Gaza to eradicate Hamas despite warnings from the US and others.
Russia ‘captures key villages’ as Ukraine races reinforcements
Russian military bloggers say the assault in the northeast could mark the start of an attempt to carve out a “buffer zone” sought by President Vladimir Putin.
Property
- Exclusive
- Luxury property
Liberman family to sell $17m Toorak ‘treehouse’
A glass and steel modernist retreat designed by Robin Boyd has joined Toorak’s prestige market with a guide of $15.9 million to $17 million.
- Exclusive
- Luxury property
AI pioneers pay $12.45m for harbourside penthouse
Appen founders Chris and Julie Vonwiller have joined a trend of “discerning down-sizers” seeking large apartments.
Simon and Catriona Mordant shoot for record with $16m trophy weekender
The Sydney power couple have listed their Clareville waterfront, which is expected to reset the suburb record.
Westfield Bondi owner says shoppers are back after horror attack
Scentre chief executive Elliott Rusanow said the mall operator had increased security spending as it returned to a “different” normal after the fatal attack.
- Analysis
- Renting
Why Australia’s long-suffering renters are not alone
Rents are soaring not only in Australia but also in the US, UK and Canada, preventing inflation from declining closer to central banks’ targeted levels.
Wealth
ASIC finds super funds still charging fees for no service
Super funds are obliged to ensure members are only charged for financial advice they actually receive but not all are doing so.
A smarter way to tax high super balances
The government has tried to keep things simple, but in doing so fairness has gone out the window.
Coalition to oppose ‘sophisticated investor’ test overhaul
Labor is grappling with backlash from the start-up sector over calls to limit access to venture capital to investors worth more than $4.5 million.
Technology
15 minutes to get around X’s stabbing video ban, court hears
Lawyers for the social network argued that they had complied with a government take-down notice, which they said was invalid, by blocking footage in Australia.
- Updated
- Earnings season
Life360 reheats plans to target US investors with Nasdaq listing
The ASX-listed, San Francisco-based family-tracking app does not expect to raise more than $US100 million. It had considered a similar move in 2021.
- Opinion
- Tech Observed
Apple ad fail shows why we fear AI
Apple has apologised for an ad for its new iPads that was so tone-deaf that the creative types, who normally love the company, had an existential fright.
Work & Careers
CFMEU in ‘open defiance’ of the law: judges
Federal Court judges said the CFMEU “simply regards itself as free to disobey the law” and 25 years of fines have done nothing to stop it.
Why so many top executives start in accounting, consulting
BOSS delves into the career paths of the senior executives at Australia’s 20 biggest companies to discover where they started – and the critical skills and experience they gained.
Life & Luxury
‘Kingdom of the Planet of the Apes’ and ‘Monster’ movie reviews
One is set to be a blockbuster, but the other is one of those critically acclaimed films that can expect to enjoy only a modest success at the box office.
When business comes to dine: Fin Dining & Wine launches at Bennelong
The Financial Review’s first restaurant guide features 50 of the best business lunches across Australia, helmed by Jill Dupleix with wine tips from Max Allen.
This luxury spa in India costs $17k for five nights. Is it worth it?
We road-test celebrity magnet Ananda Spa in the Himalayas.
How to host a business lunch
The lowdown on what to do – and what not to do – from three hosts who are legends in their own business lunch times.
The world’s wiliest climate warrior? It’s not who you think
International Energy Agency boss Fatih Birol, a lifelong bureaucrat with roots in the oil industry, has made the net zero transition a personal mission.
