Federal politics live: Keating criticises Labor's super tax changes as guarantee hits 12 per cent
Labor is defending its plan to double the tax on superannuation accounts with balances of $3m and more after criticism from former PM Paul Keating.
It comes as the superannuation guarantee hits 12 per cent on Tuesday.
Follow our live blog below.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Sky News AU
21 minutes ago
- Sky News AU
Albanese has ‘no love' for the US-Australia alliance
Shadow Defence Minister Angus Taylor criticises Prime Minister Anthony Albanese for not meeting with President Donald Trump, questioning his commitment to the US-Australia alliance. 'We can't even get our prime minister into a meeting with the president of the United States,' Mr Taylor said. 'He's more interested and more able to get a meeting with the president of China than the president of the United States. 'It seems to me that the prime minister has never had any great love for the US alliance.'

Sky News AU
21 minutes ago
- Sky News AU
Annastacia Palaszczuk concedes green hydrogen production 'too hard' after Central Queensland Hydrogen Project collapses
The key Labor Premier behind Chris Bowen's green hydrogen push has conceded developing the renewable fuel "doesn't stack up" after the nation's biggest green hydrogen project collapsed. Annastacia Palaszczuk, whose Queensland government backed the now-failed Central Queensland Hydrogen Project, now doubts the vision of the government she led after a litany of projects failed. 'Hydrogen is proving to be in the 'too hard' basket,' Ms Palaszczuk told Sky News on Tuesday. 'The price is not right. People are looking around (at) solar, batteries, (there are) conversations around making more gas supply available domestically. 'Hydrogen is just too hard at the moment and until those prices come down, I don't think we'll see those projects taking off the ground.' The nation's largest hydrogen project, CQ-H2, was axed on Monday after it failed to attract sufficient investment. Ms Palaszczuk conceded the announcement was 'a little bit disappointing' given her loud support for green hydrogen during her tenure as Premier. 'It was high in the national agenda, but it just doesn't stack up,' she said. 'I can understand why this has happened at this particular point in time.' She pushed back against the suggestion Queensland Labor was given inaccurate forecasts about improvements in green hydrogen technology, remaining adamant there was a future in the renewable fuel. 'You've got to be in it to win it,' Ms Palaszczuk said. 'Whoever's going to crack green hydrogen is going to make a lot of money so you've gotta be in it to win. 'Good partnerships were happening with the state enterprises, but also too with other countries, but it was just found to be too difficult in these circumstances. 'That's not to say it's not going to happen down the track, but the seed funding was necessary at the time.' Several green hydrogen projects have fallen around the country in recent months, raising concerns about the feasibility of the energy source. Despite this, Energy Minister Chris Bowen recently flagged efforts to provide $8 billion over 10 years into the hydrogen industry. Addressing the collapse on Monday, Mr Bowen conceded there would be challenges facing green hydrogen projects and said the Crisafulli government's decision to withdraw financial support meant the collapse came as "no surprise". "Does it face headwinds? Of course it does. Of course it does. It faces investment headwinds," Mr Bowen told reporters. "And as I've said, including in a speech just a couple of weeks ago, these things don't follow a linear line; you have progress, you have setbacks." Meanwhile, Shadow Energy Minister Dan Tehan has blamed the Albanese government for driving up power prices due to an 'ideologically driven renewables-only agenda'. 'Minister Bowen's ideological renewables only approach is disrupting the energy system and leading to higher electricity prices,' Mr Tehan said on Tuesday. 'There is no transparency about the true costs to consumers of Labor's renewables only approach and underwriting renewable energy projects using taxpayer money.' According to the government's own Australian Energy Market Commission, 'new generating plants do not earn enough money… to compensate for the investment'.

News.com.au
34 minutes ago
- News.com.au
First-home buyers win Point Cook auction for $880k
A couple who spent 15 years renting have finally claimed a home of their own, and they did it by winning Wyndham's top recorded auction of the weekend. The four-bedroom home at 14 Kellerman Drive sold under the hammer for $880,000, the highest result recorded across the region's weekend auctions, following a strong campaign by Harcourts Point Cook agents Muhammad and Eyad Khudruj. Muhammad Khudruj said the property attracted immediate interest thanks to its premium features and 'all the bells and whistles' that made it stand out from the pack. Why buyers are back in big numbers Glenroy couple's $60k surprise payday 'We had two active bidders on the day and placed a vendor bid to get things started, but once it got going, momentum built quickly,' Mr Khudruj said. 'The home had reaccess stone benchtops, soaring high ceilings, zoned refrigerated cooling, and fully landscaped front and backyards. It was move in ready and incredibly appealing.' Mr Kudruj said the auction's successful buyers were first-home buyers who had been renting for more than a decade and acted fast to secure the deal. 'They were absolutely thrilled … they felt confident and trusted us throughout the process,' Mr Khudruj said. 'The wining bidders even booked a building inspection the day before the auction and made their decision within hours. It was a big moment for them.' Set on a 631sq m allotment in the sought-after Innisfail Estate, the home offered a generous family-sized floorplan with multiple living zones, a newly renovated kitchen, spacious backyard and alfresco deck. The Harcourts Point Cook agent said the sale also capped off a standout quarter for the agency, with renewed buyer competition and rising clearance rates defying the winter chill. 'This is probably my final sale for FY25, and we're heading into the new financial year with real momentum,' Mr Khudruj said. 'Despite what some have said about a downturn, every auction we've taken to market recently has sold. 'We're seeing some of the strongest winter numbers since Covid.' Mr Kudruj added that more Sydney and Queensland investors were circling Wyndham in particular and warned local buyers holding out for more rate cuts that it could cost them. 'Waiting could mean paying $30,000 to $50,000 more for the same home in six months,' he said. 'The market's already shifted since the last two cuts.' As for the sellers, who had previously been listed with three other agents without success, the turnaround came as welcome relief. 'We ran a four-week campaign and sold it under the hammer. They were over the moon,' Mr Khudruj said. Other notable results in Wyndham last weekend included $816,000 for a four-bedroom home at 5 Broadlands Crt, Hoppers Crossing, and $655,000 for a similar-sized property at 4 Chloris Crt, Tarneit.