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Tony Abbott calls for expulsion of Russian ambassador over MH17 – politics live Tony Abbott calls for expulsion of Russian ambassador over MH17 – politics live
(35 minutes later)
This invitation has just popped into our inboxes The IPA has a solution for the super issue – just be done with compulsory superannuation.
From its statement:
“Compulsory superannuation in Australia should be abolished in favour of a voluntary scheme,” said Morgan Begg, research fellow at the free market thinktank the Institute of Public Affairs. “The Productivity Commission’s recommendations are a mixed bag that does not address the fundamental problem in the superannuation sector: over-regulation and compelled participation.
A September 2016 paper for the IPA found that high taxes and transaction costs, complexity, inconsistent treatment of different assets and a bias against savings are a predominant feature of Australia’s superannuation system.
“With employees’ money locked up in superannuation for several decades, it is important that the system is transparent and empowers workers to control their own financial choices,” Begg said.
“Instead, superannuation in Australia has become a playground for vested interests. For instance between 2013 and 2017 trade unions directly received over $18m from industry super funds via directors’ fees.”
Eric Abetz had a chat to Sky, where he had opinions on everything, except what he thinks about Barnaby Joyce accepting the reported $150,000 for a tell-all interview.
Anything he has to say on that, he’ll say privately to Barnaby, he says.
Things are going great in the government’s energy policy discussions – with its own members.
Breaking: Another discussion about the national energy guarantee in the Coalition partyroom today. Tony Abbott wanted a guarantee the policy would come back for discussion before sign off. Josh Frydenberg declined to give that guarantee #auspol
The NEG discussion kicked off with Andrew Gee raising concern about power prices. Abbott then chimed in, wanting the NEG to come back before sign off. Craig Kelly raised this morning's Newspoll, saying the Coalition needed to differentiate more with Labor #auspol
On power prices, Frydenberg told colleagues they would come down in Queensland from July. It would take longer in other states because of hedging. He said the govt would not agree to an emissions reduction target higher than 26%, & it might be a hockey stick trajectory #auspol
The last hour or so of Defence estimates has been taken up debating the department’s $89bn shipbuilding plan, which has been pilloried by the auditor general.The auditor general’s office released a scathing report on the plan earlier this month.The report criticised the approval of a new fleet of patrol boats without a concrete idea of running costs, and revealed that the decision in 2016 to begin construction of new frigates forward to 2020 “presented such extreme risk that cost and schedule overrun was likely, and that to proceed on the current schedule had the potential for severe reputational damage to Defence and the government”.But in questioning in estimates, department official Kim Gillis said media reporting of the audit was “outlandish” and insisted much of its findings were “relatively positive”.He maintained that in early 2016 Defence had identified some aspects of the frigate building program were of high to extreme risk but mitigation efforts were in place to make this more manageable.“This was our statement that the audit office was reporting, it wasn’t the audit office’s assessment,” Gillis said.He said some parts of the audit report were “out of date”.Twelve new submarines, nine frigates and two new offshore patrol vessels are set to be constructed in Adelaide, while Perth will host the building of 10 offshore patrol boats and 19 Pacific patrol boats.
If you really want to know what is destroying Australia though, it’s obviously the divide between those who see a battered, deep fried, smashed scoop of grated potato and think potato scallop, and those who think potato cake.
It is obviously a potato fritter.
But the war has had a brief flare up in Canberra, after the Canberra Times ran the term “potato scallop” in its headline and my messages and DMs are blowing up with people who don’t want to take part in a public war, but still feel the need to tell me if it’s a cake or a scallop.
How Potatoes are Destroying Australia is 100% a book launch I would attend.
Where were you when the Canberra Times reignited the great Australian battered and fried potato war? https://t.co/kilQh6SM2z
This invitation has just popped into our inboxes:
Michael Wilkinson & Wilkinson Publishing invite you to the official launch by The Hon Tony Abbott MP and Mr Alan Jones AO of Dr Kevin Donnelly’s new book:Michael Wilkinson & Wilkinson Publishing invite you to the official launch by The Hon Tony Abbott MP and Mr Alan Jones AO of Dr Kevin Donnelly’s new book:
HOW POLITICAL CORRECTNESS IS DESTROYING AUSTRALIA (enemies within and without)HOW POLITICAL CORRECTNESS IS DESTROYING AUSTRALIA (enemies within and without)
It’s on Wednesday, June 6, in Sydney, if anyone feels the need to mark their calendars. It’s on Wednesday, 6 June, in Sydney, if anyone feels the need to mark their calendars.
So the Australian Electoral Commission wants you to know it is ready for anything.So the Australian Electoral Commission wants you to know it is ready for anything.
Including, one would assume, early electionsIncluding, one would assume, early elections
We employ 80k Australians to help deliver a federal election. Paid roles available before, on or after election day. Register your interest today at https://t.co/dvHG7Xd1KM pic.twitter.com/VUi26E2yvzWe employ 80k Australians to help deliver a federal election. Paid roles available before, on or after election day. Register your interest today at https://t.co/dvHG7Xd1KM pic.twitter.com/VUi26E2yvz
Labor still hasn’t settled on an immigration policy – and the deferment of the Labor national conference because of the byelections is not going to help this matter go away anytime soon.Labor still hasn’t settled on an immigration policy – and the deferment of the Labor national conference because of the byelections is not going to help this matter go away anytime soon.
Ged Kearney’s repeated refusal to answer whether or not detainees on Manus and Nauru should be brought to the Australian mainland on the bad show last night, has only breathed more life into the debate.Ged Kearney’s repeated refusal to answer whether or not detainees on Manus and Nauru should be brought to the Australian mainland on the bad show last night, has only breathed more life into the debate.
Here is what Chris Bowen had to say about it this morning when he was asked during a press conference:Here is what Chris Bowen had to say about it this morning when he was asked during a press conference:
Our policy development continues. We continue to say to the government they should accept New Zealand’s offer. It is the most concrete thing they should do. Accept New Zealand’s offer and get at least some of these people resettled in New Zealand as a matter of urgency.Our policy development continues. We continue to say to the government they should accept New Zealand’s offer. It is the most concrete thing they should do. Accept New Zealand’s offer and get at least some of these people resettled in New Zealand as a matter of urgency.
Back in Community Affairs estimates and Greens leader Richard Di Natale is questioning a comment by the commonwealth chief medical officer, Professor Brendan Murphy, that the community wants a mix of public and private healthcare.Back in Community Affairs estimates and Greens leader Richard Di Natale is questioning a comment by the commonwealth chief medical officer, Professor Brendan Murphy, that the community wants a mix of public and private healthcare.
Not so, Di Natale says. He says high out-of-pocket medical costs for patients with private health insurance is surely an argument for investing in a more effective, well-funded public health system.Not so, Di Natale says. He says high out-of-pocket medical costs for patients with private health insurance is surely an argument for investing in a more effective, well-funded public health system.
“The community has expressed a view for a mixed private-public system,” Murphy tells him.But Di Natale responds that “the community hasn’t expressed a view”.“They’re penalised if they don’t take out private health insurance, if they earn over a particular amount,” he says. “It’s not a free choice. [Private health is] being influenced by incentives and disincentives in the system.”Murphy: “I don’t think that’s something I should comment on senator”.“The community has expressed a view for a mixed private-public system,” Murphy tells him.But Di Natale responds that “the community hasn’t expressed a view”.“They’re penalised if they don’t take out private health insurance, if they earn over a particular amount,” he says. “It’s not a free choice. [Private health is] being influenced by incentives and disincentives in the system.”Murphy: “I don’t think that’s something I should comment on senator”.
A country can't be complicit in the death of 38 Australians and face no consequences. If the Russians don't apologise, we should expel the Russian ambassador until they do. https://t.co/m64CI2h9MXA country can't be complicit in the death of 38 Australians and face no consequences. If the Russians don't apologise, we should expel the Russian ambassador until they do. https://t.co/m64CI2h9MX
Mike Bowers popped in to the Treasury estimates, where Pauline Hanson was asking questions about immigration.Mike Bowers popped in to the Treasury estimates, where Pauline Hanson was asking questions about immigration.
Because of course she was.Because of course she was.
And commenter Banjofromeden has just pointed out below the line, the other change in the crossbench was Jacqui Lambie switching from Palmer United party to form her own.And commenter Banjofromeden has just pointed out below the line, the other change in the crossbench was Jacqui Lambie switching from Palmer United party to form her own.
At the Labor caucus, Bill Shorten tried to rev up the troops in preparation for five byelections, framing them as a choice between big business tax cuts that will benefit banks and Labor’s social spending and larger personal income tax cuts.At the Labor caucus, Bill Shorten tried to rev up the troops in preparation for five byelections, framing them as a choice between big business tax cuts that will benefit banks and Labor’s social spending and larger personal income tax cuts.
Shorten said that “nothing could be done” about the date of the byelections, which are likely to be called for 28 July, the last day of the Labor conference. He called that “an extraordinary coincidence”.Shorten said that “nothing could be done” about the date of the byelections, which are likely to be called for 28 July, the last day of the Labor conference. He called that “an extraordinary coincidence”.
Regarding the national conference, Shorten set out three principles: the party still wants to hold it; ideally before the next election; and will aim to hold it at the same venue – the Adelaide convention centre – to keep costs down.Regarding the national conference, Shorten set out three principles: the party still wants to hold it; ideally before the next election; and will aim to hold it at the same venue – the Adelaide convention centre – to keep costs down.
On Monday we reported the national executive was considering moving the conference to September or January.On Monday we reported the national executive was considering moving the conference to September or January.
Labor has also confirmed it was briefed about the proposed electronic voting in the House of Representatives, just announced by Christopher Pyne.Labor has also confirmed it was briefed about the proposed electronic voting in the House of Representatives, just announced by Christopher Pyne.
In Senate estimates, Treasury officials have just revealed how the Turnbull government’s $144bn income tax plan will affect individual taxpayers.In Senate estimates, Treasury officials have just revealed how the Turnbull government’s $144bn income tax plan will affect individual taxpayers.
And their figures appear the same as figures published by the progressive think tank The Australia Institute.And their figures appear the same as figures published by the progressive think tank The Australia Institute.
Treasury says once the government’s tax plan is fully implemented in 2024-25, a worker on $40,000 a year will receive a tax cut of $455 a year, while a worker on $200,000 will receive a tax cut of $7,225 a year. Treasury has produced a document with some figures which were published with the budget papers, but which also contain a new presentation of the impact on taxpayers once the government’s tax plan is fully implemented in 2024-25.
A worker on $40,000 a year will receive a tax cut of $455 a year, while a worker on $200,000 will receive a tax cut of $7,225 a year.
The Australia Institute produced similar figures in a briefing note on the tax cuts:The Australia Institute produced similar figures in a briefing note on the tax cuts:
Someone earning $40,000 per year will get a tax cut of $455 per year while someone earning $200,000 will get a tax cut of $7,225 per year. Some might say that of course someone on $200,000 will get a bigger cut; after all they pay more tax. But while someone on $200,000 earns five times more than someone on $40,000, their tax cut will be 16 times larger.Someone earning $40,000 per year will get a tax cut of $455 per year while someone earning $200,000 will get a tax cut of $7,225 per year. Some might say that of course someone on $200,000 will get a bigger cut; after all they pay more tax. But while someone on $200,000 earns five times more than someone on $40,000, their tax cut will be 16 times larger.
Treasury officials also confirmed the biggest gains from the government’s tax cut plan will come from the decision to abolish the 37 cents (for each dollar) tax bracket.Treasury officials also confirmed the biggest gains from the government’s tax cut plan will come from the decision to abolish the 37 cents (for each dollar) tax bracket.
The government wants to remove the 37 cents bracket from 1 July, 2024, leaving everyone earning between $41,000 and $200,000 paying the same marginal tax rate of 32.5 cents (for every dollar they earn between those amounts).The government wants to remove the 37 cents bracket from 1 July, 2024, leaving everyone earning between $41,000 and $200,000 paying the same marginal tax rate of 32.5 cents (for every dollar they earn between those amounts).
When the 37 cents bracket is abolished, it will provide someone on $130,000 with a $450 tax cut, while someone on $200,000 will get a $5,200 tax cut from that single move, according to Treasury. That part we knew.
But Treasury has produced a table showing when the 37 cents bracket is abolished, it will provide someone on $130,000 with a $450 tax cut, while someone on $200,000 will get a $5,200 tax cut from that single move, according to Treasury.
The Australia Institute produced further modelling this week that looked precisely at this later component of the tax plan.The Australia Institute produced further modelling this week that looked precisely at this later component of the tax plan.
It found the biggest beneficiaries of the final years of the tax cut will be the highest income earners.It found the biggest beneficiaries of the final years of the tax cut will be the highest income earners.
It showed the abolition of the 37 cents bracket will cost approximately $16bn a year when it comes into full force, with the top 10% of taxpayers receiving the lion’s share of those tax cuts, worth $8.5bn.It showed the abolition of the 37 cents bracket will cost approximately $16bn a year when it comes into full force, with the top 10% of taxpayers receiving the lion’s share of those tax cuts, worth $8.5bn.
Treasury officials have released estimates of the financial impact of the Turnbull government's 7-year income tax plan on taxpayers, broken down into taxable incomes from $20,000 to over $200,000 #auspol pic.twitter.com/lBzchz15F2Treasury officials have released estimates of the financial impact of the Turnbull government's 7-year income tax plan on taxpayers, broken down into taxable incomes from $20,000 to over $200,000 #auspol pic.twitter.com/lBzchz15F2
How electronic voting could work in the House of Representatives https://t.co/IN50i2vXgD pic.twitter.com/aUFJRxEKQoHow electronic voting could work in the House of Representatives https://t.co/IN50i2vXgD pic.twitter.com/aUFJRxEKQo
There is also some discussion about things which will actually impact your individual lives today, which is nice. For a change.There is also some discussion about things which will actually impact your individual lives today, which is nice. For a change.
One of the Productivity Commission recommendations to come out of the superannuation review was to create a panel which would offer up a top 10 list of super funds for customers to choose from.One of the Productivity Commission recommendations to come out of the superannuation review was to create a panel which would offer up a top 10 list of super funds for customers to choose from.
The government hasn’t been a big fan of union-run, industry super funds. But here is what Kelly O’Dwyer had to say about that list this morning when talking with the ABC – and what would happen if union-run industry funds ended up dominating any best-in-show list:The government hasn’t been a big fan of union-run, industry super funds. But here is what Kelly O’Dwyer had to say about that list this morning when talking with the ABC – and what would happen if union-run industry funds ended up dominating any best-in-show list:
I’m completely agnostic in terms of whether it’s a retail fund or an industry fund. I simply want to see low fees, good governance, I want to make sure that members’ money is being spent in their best interests and that their money is working for them, whether it’s a retail fund or an industry fund. I don’t discriminate. So I think what is very clear is that the Labor party needs to back in the changes that we announced in the budget. They need to be unequivocal in their support.I’m completely agnostic in terms of whether it’s a retail fund or an industry fund. I simply want to see low fees, good governance, I want to make sure that members’ money is being spent in their best interests and that their money is working for them, whether it’s a retail fund or an industry fund. I don’t discriminate. So I think what is very clear is that the Labor party needs to back in the changes that we announced in the budget. They need to be unequivocal in their support.
The Productivity Commission today has completely belled the cat on all of the problems that exist. It can’t be ignored [and it’s now up to] Labor to support our changes and do it quickly because otherwise it will cost millions of Australians millions of dollars in their retirement savings.The Productivity Commission today has completely belled the cat on all of the problems that exist. It can’t be ignored [and it’s now up to] Labor to support our changes and do it quickly because otherwise it will cost millions of Australians millions of dollars in their retirement savings.
As well as the back and forth of questions and answers, Treasury has dropped a bunch of new material about the impact of the government’s proposed income tax cuts.As well as the back and forth of questions and answers, Treasury has dropped a bunch of new material about the impact of the government’s proposed income tax cuts.
From 2024-25, Australians with a taxable income of $200,000 a year will get a tax cut of $7,225 – that’s when abolishing the 37% tax bracket kicks in.From 2024-25, Australians with a taxable income of $200,000 a year will get a tax cut of $7,225 – that’s when abolishing the 37% tax bracket kicks in.
A worker on that level of income will pick up $135 when the $87,000 threshold goes up to $90,000, $540 when the $37,000 threshold goes up to $41,000, and $1,350 when the $90,000 threshold goes to $120,000 (that’s stage two of the package), then a further $5,200 when the 37% bracket disappears.A worker on that level of income will pick up $135 when the $87,000 threshold goes up to $90,000, $540 when the $37,000 threshold goes up to $41,000, and $1,350 when the $90,000 threshold goes to $120,000 (that’s stage two of the package), then a further $5,200 when the 37% bracket disappears.
Someone earning $30,000 will get a tax cut of $200.Someone earning $30,000 will get a tax cut of $200.