‘Our policy stands’: PM downplays Treasury advice on doubling tax rate for superannuation over $3m

The GuardianFriday, October 10, 2025 at 5:22:59 AM
‘Our policy stands’: PM downplays Treasury advice on doubling tax rate for superannuation over $3m
Prime Minister Anthony Albanese has reaffirmed his government's stance on superannuation tax policy, despite recent Treasury advice suggesting a potential doubling of the tax rate for balances exceeding $3 million. This decision comes amid ongoing debates about taxing unrealised gains, which have drawn criticism. Albanese's commitment to maintaining the current policy is significant as it reflects the government's approach to wealth management and fiscal responsibility, impacting many Australians' retirement savings.
— Curated by the World Pulse Now AI Editorial System

Was this article worth reading? Share it

Recommended Readings
Harry Brook admits Pat Cummins’ absence could boost England’s Ashes chances
PositiveWorld Affairs
Harry Brook has expressed optimism about England's chances in the upcoming Ashes series, especially with Australian captain Pat Cummins likely missing the first test due to injury. Brook acknowledges that while this could benefit England, Australia's strong pool of pace bowlers means they shouldn't be taken lightly. This situation adds an intriguing twist to the series, highlighting the competitive nature of international cricket.
Australia news live: independent Sophie Scamps quits parliamentary sports club after Pocock ban; more police join Porepunkah manhunt
NeutralWorld Affairs
In a significant political move, independent MP Sophie Scamps has resigned from the parliamentary sports club, following the recent ban on fellow MP David Pocock. This decision comes on the heels of Monique Ryan's resignation last month, which was also linked to the club's associations with gambling. These resignations highlight growing concerns among politicians regarding the influence of gambling in sports and politics, reflecting a broader conversation about ethics and accountability in Australian governance.
PM criticises Pocock’s ban from parliamentary sports club but dismisses concerns about betting lobby
NegativeWorld Affairs
In a recent development, the Prime Minister has criticized Senator Pocock's ban from the parliamentary sports club, which has sparked a debate about the senator's concerns regarding the club's ties to the betting lobby. This situation highlights the ongoing tension between political figures and the influence of gambling interests in Australia, raising questions about accountability and the integrity of social institutions. The Prime Minister's dismissal of these concerns may reflect a broader reluctance to confront the powerful betting industry, making this issue particularly significant for voters who prioritize ethical governance.
Australia must ‘have the guts’ to stand up to Japanese companies reselling gas for profit, Husic says
NegativeWorld Affairs
In a recent statement, Australian Labor backbencher Ed Husic emphasized the need for the country to confront Japanese companies that are reselling gas at inflated prices. He argues that drastic measures are necessary to ensure a stable gas supply for the east coast, highlighting the potential impact on consumers and businesses. This issue is crucial as it touches on energy security and economic fairness, prompting a broader discussion about Australia's energy policies and international trade practices.
High court dismisses former army lawyer David McBride’s application for case to be heard – as it happened
NegativeWorld Affairs
The high court's dismissal of former army lawyer David McBride's application is a significant legal setback for him, reflecting ongoing tensions in Australia's judicial system. This decision not only impacts McBride's case but also raises questions about the broader implications for legal accountability and whistleblowing in the military. As discussions about an east coast gas reserve intensify, the intersection of legal and economic issues becomes increasingly relevant for Australians facing rising gas prices.
NSW transport bureaucrat admits being given envelopes of cash at Oporto to artificially inflate invoices
NegativeWorld Affairs
In a shocking revelation at an ICAC hearing, Ibrahim Helmy, a bureaucrat from New South Wales, admitted to receiving envelopes of cash at Oporto to create fake invoices as part of a multimillion-dollar kickback scheme. This admission raises serious concerns about corruption within the transport sector and highlights the need for greater oversight and accountability in public spending. Such scandals not only undermine public trust but also divert essential resources from critical infrastructure projects.
Chris Minns’ chief of staff in constitutional showdown with parliament over 120-year-old law
NeutralWorld Affairs
James Cullen, chief of staff to Chris Minns, is at the center of a constitutional debate regarding a 120-year-old law that allows the parliament to compel witnesses. Cullen argues that this 1901 law is unconstitutional, raising significant questions about the balance of power and the rights of individuals in legal proceedings. This matter is crucial as it could set a precedent for how parliamentary inquiries operate in the future, impacting both governance and individual rights in Australia.
4chan unlikely to be included in Australia’s under-16s social media ban, eSafety commissioner says
NeutralWorld Affairs
Australia's eSafety commissioner, Julie Inman Grant, has stated that the controversial message board 4chan is unlikely to be included in the upcoming social media ban for users under 16. This decision is significant as it highlights the ongoing challenges of regulating online platforms, especially those hosting violent and adult content. The focus will instead be on ensuring that such sites comply with age assurance codes, which is crucial for protecting younger audiences from harmful material.
University of Melbourne rated best in Australia in global rankings report
PositiveWorld Affairs
The University of Melbourne has been recognized as the best university in Australia, ranking 37th globally according to the Times Higher Education report. This achievement highlights the institution's commitment to excellence in education and research, placing it among the top 100 universities worldwide. Such recognition not only enhances the university's reputation but also attracts international students and faculty, contributing to the overall academic landscape in Australia.
Women’s Cricket World Cup: Mooney rescues Australia before bowlers seal 107-run win over Pakistan
PositiveWorld Affairs
In a thrilling match at the Women's Cricket World Cup, Beth Mooney delivered an outstanding performance, leading Australia to a commanding 107-run victory over Pakistan. Her remarkable innings not only showcased her talent but also set the tone for the team's success. The Australian bowlers then stepped up, effectively dismantling the Pakistani batting lineup. This win is significant as it reinforces Australia's dominance in women's cricket and boosts their confidence as they progress in the tournament.
‘AI is here to stay and change things’: Mad Max director George Miller on why he is taking part in an AI film festival
PositiveWorld Affairs
George Miller, the acclaimed director of Mad Max, is embracing the role of judge at the Omni AI film festival in Australia, highlighting the positive impact of artificial intelligence on filmmaking. He argues that AI has democratized the industry, making it more accessible for diverse voices. Despite the controversy surrounding AI in Hollywood, particularly with the introduction of the first AI actress, Tilly Norwood, Miller's participation signals a shift towards recognizing AI's potential to enhance creativity rather than diminish it. This festival could pave the way for a new era in film, where technology and artistry coexist.
Deloitte caught filing $290k government report with AI errors
NegativeWorld Affairs
Deloitte has found itself in hot water after submitting a $290,000 government report filled with AI-generated errors, referred to as 'hallucinations.' This misstep has led the accounting firm to agree to a partial refund to Australia's Labor Department. The incident raises significant concerns about the reliability of AI in critical reporting and highlights the need for rigorous oversight in the use of technology in professional services.
Latest from World Affairs
Sweden v Switzerland, France v Azerbaijan: World Cup qualifying clockwatch – live
NeutralWorld Affairs
The latest updates from the World Cup qualifiers feature matches like Sweden against Switzerland and France facing Azerbaijan. These games are crucial as teams vie for a spot in the prestigious tournament, and players like Djed Spence are making headlines with their performances. Fans are eager to see how these matches unfold and what they mean for the teams' chances of qualifying.
Federal layoffs to begin as Congress remains deadlocked over funding to end shutdown – live
NegativeWorld Affairs
The ongoing government shutdown is now entering its third week, leading to confirmed layoffs at the Cybersecurity and Infrastructure Security Agency as the Department of Homeland Security announces reductions in force. With Congress deadlocked over funding, the situation is becoming increasingly dire for federal workers. This matters because it not only affects the livelihoods of those workers but also raises concerns about national security and the functioning of essential government services during a critical time.
Denmark to Spend $8.5 Billion on Weapons in Message to Trump
PositiveWorld Affairs
Denmark is set to invest $8.5 billion in weapons, including F-35 jet fighters, signaling its commitment to addressing security threats from China and Russia. This significant investment not only strengthens Denmark's defense capabilities but also sends a clear message to the international community, particularly to the U.S. under Trump's administration, about the importance of collective security in a changing geopolitical landscape.
What is the Senedd by-election in Caerphilly?
NeutralWorld Affairs
The recent passing of Hefin David has led to a by-election in Caerphilly, a significant event for the local political landscape. By-elections are crucial as they can shift the balance of power and reflect the current sentiments of the electorate. This particular by-election will not only honor David's legacy but also determine the future direction of representation in the area.
Peru: Chicha Cumbia, the electric pulse of Lima
PositiveWorld Affairs
Karla Gachet and Ivan Kashinsky are capturing the vibrant essence of cumbia music across various countries, including Peru. Their work highlights the cultural significance of this genre, showcasing how it connects communities and reflects their stories. This documentation not only celebrates the rich musical heritage of Latin America but also emphasizes the importance of preserving these cultural expressions in a rapidly changing world.
Trump’s strong-arming of Netanyahu led to a deal. He must sustain that pressure | Mohamad Bazzi
PositiveWorld Affairs
Recently, President Donald Trump has taken a more assertive stance towards Israeli Prime Minister Benjamin Netanyahu, leveraging his influence to push for a ceasefire in Gaza after a prolonged conflict. This shift is significant as it marks a departure from Trump's previous reluctance to intervene, highlighting his ambition to be seen as a global peacemaker. The outcome of this pressure could lead to a more stable situation in the region, making it a crucial moment for both US foreign policy and Middle Eastern peace efforts.