Category Archives: Australia news

Asic sues Mercer Super for allegedly ‘greenwashing’ fossil fuel and gambling investments

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Corporate regulator claims the company misled members in a fund that promoted its sustainable credentials

Corporate pension fund Mercer Superannuation misled members by investing in coal and other fossil fuels, along with alcohol and gambling stocks, in a fund that promoted its sustainable credentials, the corporate regulator has alleged.

The Australian Securities and Investments Commission has started legal proceedings against Mercer in its first court action over alleged “greenwashing”, a term that describes misleading claims made about a product’s environmental and sustainable credentials.

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Almost 40% of superannuation tax concessions flow to top 10% of earners, tax statement shows

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Treasurer Jim Chalmers says analysis will ‘help increase public awareness and inform debate about the fairness and efficiency of the tax system’

Superannuation tax concessions are costing the budget $50bn a year, with almost 40% of the benefit of tax breaks on earnings flowing to the top 10% of income earners.

That is one of the central findings of the tax expenditures and income statement, released by the treasurer, Jim Chalmers, on Tuesday.

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Albanese government lifts tax rate on superannuation balances over $3m

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The changes, which will not come into effect until 2025/26, will apply to around 80,000 people

The Albanese government will tax superannuation balances above $3m at a higher rate as it looks for opportunities to claw back revenue.

Currently, earnings from superannuation in the accumulation phase are taxed at a concessional rate of up to 15% and this will continue for those with balances below $3m.

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Australia moves to fast-track ban on silica stone benchtops that cause fatal lung disease

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Federal government hopes to draft ban to combat silicosis by end of year with support from states and territories

Australia has taken a major step towards a world-first total ban on engineered stone products in response to rising rates of silicosis from dry-cutting silica products commonly used in kitchen and bathroom benches.

On Tuesday the work health and safety ministers of all states and territories are expected to agree to Safe Work Australia preparing a plan to ban the products.

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Japanese encephalitis may have infected one in 30 people in parts of northern Victoria

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Health department has expanded vaccine eligibility after a survey indicated the virus was more widespread than previously reported

Japanese encephalitis has infected as many as one in 30 people in parts of northern Victoria, the state’s health department has said, as it opened vaccine eligibility to more local government areas.

The department estimated the number in affected northern Victorian council areas, which was higher than previously thought, after a serosurvey indicated a greater number of cases than the 13 reported during last year’s mosquito season.

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Liberal MPs break ranks to back Jim Chalmers’ discussion on superannuation reform

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Angus Taylor says Coalition will fight any changes but Tasmanian MP Bridget Archer says we should not ‘shy away from having a conversation’

Liberal moderates Russell Broadbent and Bridget Archer have broken ranks and endorsed the treasurer’s efforts to start a conversation about the fiscal sustainability of generous superannuation tax concessions.

Broadbent told the ABC on Monday it was unclear exactly what changes were being proposed but if the mooted overhaul was “fair and reasonable” then the Coalition should not stand in the way.

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Methane emissions ‘incredibly cheap’ to cut without needing offsets, safeguard mechanism inquiry told

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Hearing into Labor’s changes to the scheme told a 75% reduction in methane was possible using commercially competitive existing technology

Methane emissions from the oil and gas industry are “incredibly cheap” to cut and companies could improve their financial position by embracing existing technology to stop carbon leaks, an inquiry into the Albanese government’s climate policy has heard.

A hearing into proposed changes to the safeguard mechanism – a Coalition policy applied to industrial emissions that Labor plans to revamp – was told the International Energy Agency (IEA) had estimated a 75% reduction in methane was possible using commercially competitive existing technology, such as capturing the methane and using it to generate electricity.

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Vast national park to be created and native animals protected after NSW government land purchase

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Dominic Perrottet lauds tourism benefits of buying 440,000 hectare site Thurloo Downs in state’s north-west

Habitat for more than 50 threatened species will be preserved as part of a new land acquisition by the New South Wales government that will become the state’s third-largest national park.

The 437,394 hectare site, which is called Thurloo Downs and is about 250 kilometres from Bourke in the state’s north-west, contains globally significant arid zone wetlands, as well as salt lakes, playas and other geological formations that are unprotected elsewhere in NSW.

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Hillsong College allegedly taught some students women should ‘submit’ sexually to husbands

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The school’s code of conduct instructs students to ‘abstain from biblically immoral practices’, including ‘sexual sins’

Patriarchal churches that teach women should “submit” to men are creating a culture where abuse can thrive, experts say.

A News Corp Australia podcast has alleged that some female students at Hillsong College, part of Hillsong Church, were taught to “submit” sexually to their husbands, which one former student described as “kind of a rape culture”.

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Fast food chain Wendy’s plans rollout in Australia but potential naming clash looms

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US burger giant hints at hundreds of stores in country, which is home to ice-cream chain named Wendy’s Milk Bar

“There can’t be two Wendy’s,” Dean Tully says.

The owner of the Whyalla branch of the Australian ice-cream and hotdog chain Wendy’s Milk Bar was responding to Monday’s announcement that the US fast food chain Wendy’s is planning to open hundreds of outlets down under.

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Alan Tudge’s senior staff failed to ask about robodebt scheme’s legality, inquiry hears

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Former staffer to the human services minister unable to say what action he took over a review that raised issues with the scheme

Alan Tudge’s former senior staff have told a royal commission they did not ask the Department of Human Services if the robodebt scheme was legal.

The inquiry on Monday heard Andrew Asten, who worked as chief of staff to the former human services minister during the scandal in 2017, and Mark Wood, senior adviser, failed to ask departmental officials about the scheme’s legality.

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Papua New Guinea hostage taking a ‘spur of the moment decision’

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Gang who captured Prof Bryce Barker and his research team wanted compensation after two members shot at logging site

The decision to take the Australian-based New Zealand archaeologist Prof Bryce Barker and his research team hostage near remote Mount Bosavi in Papua New Guinea was a “spur of the moment” decision by their captors, two of whom had been shot in an earlier encounter with security guards at a logging site.

The governor of Hela province, Philip Undialu, said his team had only been able to begin negotiations with the captors – a criminal gang of about 20 “runners” moving guns and drugs across New Guinea – once they had moved the hostages into an area with mobile phone coverage.

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Australia news live: cybersecurity boost to tackle major attacks, industry emissions blowout fears

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Anthony Albanese is expected today to announce a new agency to lead a national fight against hackers. Follow the day’s news live

Future emissions from existing and new Australian coal and gas production are likely to dwarf official government estimates, new analysis shows.

It could undermine the Albanese government’s planned revamp of the climate change policy known as the safeguard mechanism, according to global research firm, Climate Analytics.

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Rezone more land to get more housing, NSW government says – but that can be a recipe for disaster

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Fast-tracking development in the Macarthur region will give Sydney a massive new infrastructure challenge

It’s a simple and seductive solution: rezone more land on the fringes of Sydney for housing and real estate prices will fall, thanks to greater supply.

But the reality is more complex.

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Queensland human rights commissioner says police must watch for vigilante activity

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Police have repeatedly warned against vigilantism but there are growing concerns that recent heightened debate might increase risk

The Queensland human rights commissioner, Scott McDougall, says police must closely monitor vigilante activity, amid concern about the role of anti-crime Facebook groups where residents have threatened children or called for violent responses to youth crime.

Debate about youth crime in Queensland last week prompted the state government to override its Human Rights Act to introduce new laws, which will result in children being charged with criminal offences for breaching bail conditions. Experts say there is no evidence to support such a move.

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Veterans paying for service-related healthcare as Australian GPs stop accepting rebate

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Lack of timely and affordable medical care is exacerbating chronic health issues and causing mental distress among veterans, advocate says

Veterans are being left to pay for their own healthcare for service-related injuries and conditions as some GP clinics are no longer accepting the veteran white card.

The clinics argue the rebates are not high enough to cover the cost of services, but not getting timely and affordable medical care is exacerbating the chronic health issues of veterans and is causing mental distress, according to one advocate.

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Crisis support services can be reached 24 hours a day: Lifeline 13 11 14; Suicide Call Back Service 1300 659 467; Kids Helpline 1800 55 1800; MensLine Australia 1300 78 99 78; Beyond Blue 1300 22 4636

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Chris Bowen urges Greens to back emissions bill but again rules out ban on new fossil fuel projects

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Greens leader says party has already made significant compromises on the safeguard mechanism

Australia’s climate minister, Chris Bowen, has again challenged the Greens to support the government’s reforms to the safeguard mechanism, but flat-out rejected the party’s calls to ban new coal and gas, saying fossil fuels would continue providing one-fifth of Australia’s energy beyond 2030.

However, the Greens leader, Adam Bandt, claims the party has already made major compromises by offering to pass Labor’s plan through the Senate, saying the party’s request for no new coal and gas was reasonable if the government wanted to address climate change concerns. It potentially sets up more protracted negotiations or Senate gridlock when parliament returns in March.

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Thousands pay tribute to Olivia Newton-John at Australian memorial service

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Elton John, Hugh Jackman, Dolly Parton, Pink, Sir Barry Gibb and Mariah Carey sent video condolences, which were played to the crowd in Melbourne

A host of international stars and dignitaries paid tribute to the late Australian star Olivia Newton-John in at a state memorial service in Melbourne on Sunday.

Thousands gathered at Hamer Hall and video tributes came from Elton John, Hugh Jackman, Dolly Parton, Pink, Barry Gibb and Mariah Carey.

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Fans and stars farewell Olivia Newton-John – as it happened

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Actor and ‘cultural icon’ honoured in state memorial service at Hamer Hall. This blog is now closed

Independent MP Zali Steggall suggests Labor’s take on the Environment Protection and Biodiversity Conservation Act is “greenwashing,” following the appearance of Chris Bowen, minister for industry, energy and emissions reduction, on ABC Insiders this morning.

Treasurer Jim Chalmers defended potential alterations to tax breaks on multimillion-dollar superannuation balances on Sky News this morning.

The fundamentals won’t change. The tax concessionality will still be there, but we do need to consider whether we can afford the degree of tax concessionality for people who’ve got very big balances.

I’m not interested in a war of words with John Howard. John Howard is someone who I respect and he deserves better than to be wheeled out to prop up Angus Taylor’s dodgy arguments or to shore up Peter Dutton’s failing leadership.

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Australian professor and two local researchers held hostage in Papua New Guinea released

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Foreign minister Penny Wong says all hostages, including a New Zealand-born Australian academic, have been freed

Australia’s foreign affairs minister, Penny Wong, has said all hostages taken by a Papua New Guinean criminal gang have been released, including an Australian academic, and will be reunited with their families.

“Thank you to PNG’s Government for its leadership in securing a safe & peaceful resolution,” Wong tweeted on Sunday afternoon.

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