A federal bill aims to impose a 15% tax on superannuation balances exceeding $3 million, affecting about 0.5% of Australian savers, but it has drawn criticism for potential unfair outcomes. Independent economist Saul Eslake supports the goal of addressing tax avoidance through super but argues the method of taxing unrealised gains is flawed and questions why wealth isn’t taxed on other assets like housing. Critics, including Liberal senator Andrew Bragg, warn that this legislation may undermine superannuation as a preferred savings vehicle for younger generations.
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NATO summit: Mark Rutte calls Donald Trump ‘Daddy’, praises him for boosting Europe’s defence spend
NATO Secretary General Mark Rutte sparked attention by calling US President Donald Trump "Daddy" during a press conference, following Trump's comments on the Israel-Iran conflict. The summit resulted in a commitment to increase defense spending significantly, addressing both Trump's demands and concerns over Russian threats, despite discussions on trade tariffs affecting military budgets. Explain It To Me Like I'm 5: NATO Secretary General Mark Rutte called US President Donald Trump "Daddy" during a press conference,...
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