The Australian Government has backed down on its controversial superannuation tax plan, following long-running criticism from key industries.
Treasurer Jim Chalmers announced the surprise decision today, one week after Prime Minister Albanese claimed the plan was going to remain unchanged.
Australian correspondent Oliver Peterson says these changes have been met with support from Australians.
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Speaker 1 (00:00):
International Correspondence with Ends and Eye Insurance, Peace of Mind
for New Zealand business. Olli Peterson sixty our per Live
presenters with us alloally Heather Good.
Speaker 2 (00:10):
Afternoon from the wrestling capital of the World, Perth, w A.
Speaker 1 (00:15):
What's happened?
Speaker 3 (00:15):
We had John Senior here on the weekend. He's fifth
last match of all time. And guess who I sat behind?
Speaker 1 (00:20):
Who?
Speaker 2 (00:21):
Sonny Bill Williams?
Speaker 1 (00:22):
Oh did you?
Speaker 3 (00:23):
Indeed had a good chat to Sonny Bill Williams. And
the Prince of Malaysia was here too.
Speaker 1 (00:28):
Oh that's flash. So were you guys in the same
corporate box.
Speaker 2 (00:32):
Well we weren't. Actually were in row one and row two,
so are ringside seats? Sonny Bill?
Speaker 3 (00:37):
And I thought he might take down Roman had like
a little band about the Bledderslow cup.
Speaker 2 (00:40):
I asked him actually rugby union or rugby league and
unions of world game?
Speaker 1 (00:46):
As he told me, did you?
Speaker 2 (00:47):
Did you?
Speaker 1 (00:48):
Then ask him if he's signing up to R three
sixty or if he's had had it?
Speaker 2 (00:51):
I think he might even be a little smokey, had
a little wrestling career.
Speaker 1 (00:55):
Oh okay, do you know what I'll tell you without
a word of a lie. I didn't realize you were
a big enough deal to be invited to to Row
one or two.
Speaker 3 (01:03):
Hurt's a small play center. It's a really tidy place.
It's a little bit bigger than New Zealand, but still tidy.
Speaker 1 (01:10):
You're a good sort Ali. Hey listen, So a labour's
trying to pretend it's not making any He says there's
just a bunch of changes. But it's not just a
bunch of changes, is it.
Speaker 2 (01:17):
And Jim Chalmers has been rolled on this.
Speaker 3 (01:19):
The Prime Minister has told him to back down on
what his big changes were to suit he can sort of,
you know, walk and chew gum at the same time
and all of a sudden say things out the side
of the mouth.
Speaker 2 (01:29):
This is a win for common sense.
Speaker 3 (01:31):
Jim, your plan to go a lot harder, a lot further,
and to be blunt. If you had the political will
or backbone to do it, you would. Because labor is
in such a commanding position in Australia at the moment
header they're probably going to be in front of the
two or three terms.
Speaker 2 (01:45):
So if you wanted real reform, you could have gone
a lot harder than you have here. So how it
will work.
Speaker 3 (01:51):
What's changed is it means he's dumped this target of
unrealized capital gains and revised key elements of the policy. Now,
the original plan was the treatment of unrealized capital gains
and to not index a three million dollar threshold. But
what it will do instead is have a two tiered
structure only apply to realize gains, so dividends or interest
(02:11):
for example, not the paper increases the asset values.
Speaker 2 (02:14):
And in the end they're saying, lo, this.
Speaker 3 (02:15):
Is a win, particularly for working Australians, and it's a
win for everybody.
Speaker 2 (02:19):
There's nothing to see here.
Speaker 3 (02:21):
So of course all the superannuation accounts have come out,
everyone say that it's great.
Speaker 2 (02:24):
You know, it's wonderful. It's not as bad as it's
going to be. But he still make it changes.
Speaker 1 (02:27):
Yes, Now what's going on with Quantus.
Speaker 3 (02:30):
Well, Quantus has now had all of its six million
customers data released on that dark where they're going to
be facing some scrutiny and that the Minister Responsible, Tony
Burkhom Affairs and Cybersecurity Minister, says they will be held
accountable for this.
Speaker 2 (02:46):
Now, Contus isn't alone.
Speaker 3 (02:47):
You've got forty odd worldwide companies we're talking about Disney Ikea,
where this hacker group scattered lapses dollars. Hunters stole more
than a billion records of that customer data.
Speaker 2 (02:56):
They put it online.
Speaker 3 (02:58):
Quantus didn't pay the ransom. They're obviously trying to navigate this.
But anybody who's had their data stolen, Look, we probably
all unfortunately had our data stolen with lots of different
hacking circumstances. Now you just have to be extraordinarily vigilant,
whether it's Quantus on the other end or somebody else
who's just trying to pinch him money or pretend that
they're obviously the airline. I'm a member of Quantus, and
I have noticed a lot more activity, to be honest,
(03:19):
but I get lots of scam calls and text messages anyway, regardless,
because you're a big deal.
Speaker 1 (03:26):
How have you got your kids any of those Bluey
Christmas coins?
Speaker 2 (03:29):
I try to like, this is how nuts Bluey is, right.
Speaker 3 (03:32):
I missed out on the first round of the coins
by going to the post office.
Speaker 2 (03:35):
They weren't there. Now they want to ballot that. They
want to ballot.
Speaker 3 (03:39):
For these Bluey Christmas coins, So of course I've gone
in there for this Christmas.
Speaker 2 (03:43):
Tried to ballot for two coins.
Speaker 3 (03:45):
It's a one dollar coin and I'm going to pay
twenty bucks for a Christmas coin if I get it?
Speaker 2 (03:49):
Am I nuts?
Speaker 1 (03:49):
Yep? What are you supposed to do with the coin?
He's supposed to keep it forever?
Speaker 2 (03:52):
Yeah, just look at it.
Speaker 1 (03:53):
Do the kids even know these things exist?
Speaker 2 (03:55):
Not yet? But he said that's right unless they're listening
to you and I talk right now. This is this,
this was going to be. Yeah.
Speaker 1 (04:02):
I mean, I'm not gonna lie to you, but if
I got a coin for a Christmas present, they would suck.
Speaker 2 (04:08):
Well, you know what, the tooth fairy might be looking
at these coins too. I don't know. I might have
a word of the tooth fairy. Right, we're at that
age with teeth four.
Speaker 1 (04:14):
Just FYI, A queen with the queen's or the king's
face on it is probably the same and it's gonna
cost you less. Good luck, Oli, It's good to talk
to you, mate. We'll talk to you soon. Oliver Peterson
six pr Perth Live Presenter, It's eighteen away from five.
For more from Hither Duplessy Allen Drive, listen live to
news talks. It'd be from four pm weekdays, or follow
(04:35):
the podcast on iHeartRadio
International Correspondence with Ends and Eye Insurance, Peace of Mind
for New Zealand business. Olli Peterson sixty our per Live
presenters with us alloally Heather Good.
Speaker 2 (00:10):
Afternoon from the wrestling capital of the World, Perth, w A.
Speaker 1 (00:15):
What's happened?
Speaker 3 (00:15):
We had John Senior here on the weekend. He's fifth
last match of all time. And guess who I sat behind?
Speaker 1 (00:20):
Who?
Speaker 2 (00:21):
Sonny Bill Williams?
Speaker 1 (00:22):
Oh did you?
Speaker 3 (00:23):
Indeed had a good chat to Sonny Bill Williams. And
the Prince of Malaysia was here too.
Speaker 1 (00:28):
Oh that's flash. So were you guys in the same
corporate box.
Speaker 2 (00:32):
Well we weren't. Actually were in row one and row two,
so are ringside seats? Sonny Bill?
Speaker 3 (00:37):
And I thought he might take down Roman had like
a little band about the Bledderslow cup.
Speaker 2 (00:40):
I asked him actually rugby union or rugby league and
unions of world game?
Speaker 1 (00:46):
As he told me, did you?
Speaker 2 (00:47):
Did you?
Speaker 1 (00:48):
Then ask him if he's signing up to R three
sixty or if he's had had it?
Speaker 2 (00:51):
I think he might even be a little smokey, had
a little wrestling career.
Speaker 1 (00:55):
Oh okay, do you know what I'll tell you without
a word of a lie. I didn't realize you were
a big enough deal to be invited to to Row
one or two.
Speaker 3 (01:03):
Hurt's a small play center. It's a really tidy place.
It's a little bit bigger than New Zealand, but still tidy.
Speaker 1 (01:10):
You're a good sort Ali. Hey listen, So a labour's
trying to pretend it's not making any He says there's
just a bunch of changes. But it's not just a
bunch of changes, is it.
Speaker 2 (01:17):
And Jim Chalmers has been rolled on this.
Speaker 3 (01:19):
The Prime Minister has told him to back down on
what his big changes were to suit he can sort of,
you know, walk and chew gum at the same time
and all of a sudden say things out the side
of the mouth.
Speaker 2 (01:29):
This is a win for common sense.
Speaker 3 (01:31):
Jim, your plan to go a lot harder, a lot further,
and to be blunt. If you had the political will
or backbone to do it, you would. Because labor is
in such a commanding position in Australia at the moment
header they're probably going to be in front of the
two or three terms.
Speaker 2 (01:45):
So if you wanted real reform, you could have gone
a lot harder than you have here. So how it
will work.
Speaker 3 (01:51):
What's changed is it means he's dumped this target of
unrealized capital gains and revised key elements of the policy. Now,
the original plan was the treatment of unrealized capital gains
and to not index a three million dollar threshold. But
what it will do instead is have a two tiered
structure only apply to realize gains, so dividends or interest
(02:11):
for example, not the paper increases the asset values.
Speaker 2 (02:14):
And in the end they're saying, lo, this.
Speaker 3 (02:15):
Is a win, particularly for working Australians, and it's a
win for everybody.
Speaker 2 (02:19):
There's nothing to see here.
Speaker 3 (02:21):
So of course all the superannuation accounts have come out,
everyone say that it's great.
Speaker 2 (02:24):
You know, it's wonderful. It's not as bad as it's
going to be. But he still make it changes.
Speaker 1 (02:27):
Yes, Now what's going on with Quantus.
Speaker 3 (02:30):
Well, Quantus has now had all of its six million
customers data released on that dark where they're going to
be facing some scrutiny and that the Minister Responsible, Tony
Burkhom Affairs and Cybersecurity Minister, says they will be held
accountable for this.
Speaker 2 (02:46):
Now, Contus isn't alone.
Speaker 3 (02:47):
You've got forty odd worldwide companies we're talking about Disney Ikea,
where this hacker group scattered lapses dollars. Hunters stole more
than a billion records of that customer data.
Speaker 2 (02:56):
They put it online.
Speaker 3 (02:58):
Quantus didn't pay the ransom. They're obviously trying to navigate this.
But anybody who's had their data stolen, Look, we probably
all unfortunately had our data stolen with lots of different
hacking circumstances. Now you just have to be extraordinarily vigilant,
whether it's Quantus on the other end or somebody else
who's just trying to pinch him money or pretend that
they're obviously the airline. I'm a member of Quantus, and
I have noticed a lot more activity, to be honest,
(03:19):
but I get lots of scam calls and text messages anyway, regardless,
because you're a big deal.
Speaker 1 (03:26):
How have you got your kids any of those Bluey
Christmas coins?
Speaker 2 (03:29):
I try to like, this is how nuts Bluey is, right.
Speaker 3 (03:32):
I missed out on the first round of the coins
by going to the post office.
Speaker 2 (03:35):
They weren't there. Now they want to ballot that. They
want to ballot.
Speaker 3 (03:39):
For these Bluey Christmas coins, So of course I've gone
in there for this Christmas.
Speaker 2 (03:43):
Tried to ballot for two coins.
Speaker 3 (03:45):
It's a one dollar coin and I'm going to pay
twenty bucks for a Christmas coin if I get it?
Speaker 2 (03:49):
Am I nuts?
Speaker 1 (03:49):
Yep? What are you supposed to do with the coin?
He's supposed to keep it forever?
Speaker 2 (03:52):
Yeah, just look at it.
Speaker 1 (03:53):
Do the kids even know these things exist?
Speaker 2 (03:55):
Not yet? But he said that's right unless they're listening
to you and I talk right now. This is this,
this was going to be. Yeah.
Speaker 1 (04:02):
I mean, I'm not gonna lie to you, but if
I got a coin for a Christmas present, they would suck.
Speaker 2 (04:08):
Well, you know what, the tooth fairy might be looking
at these coins too. I don't know. I might have
a word of the tooth fairy. Right, we're at that
age with teeth four.
Speaker 1 (04:14):
Just FYI, A queen with the queen's or the king's
face on it is probably the same and it's gonna
cost you less. Good luck, Oli, It's good to talk
to you, mate. We'll talk to you soon. Oliver Peterson
six pr Perth Live Presenter, It's eighteen away from five.
For more from Hither Duplessy Allen Drive, listen live to
news talks. It'd be from four pm weekdays, or follow
(04:35):
the podcast on iHeartRadio
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