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Albo’s time warp: it’s just a jump to the Left
A decade after some in Labor tried to strip socialism out of its platform, the prime minister will lock higher taxes on wealth into the party’s DNA.
‘Unworkable’ trusts tax will hit housing supply, says property council
Jim Chalmers’ 30 per cent trust tax will impose crippling restructuring costs on middle-tier property developers, slowing the construction of new homes.
Bathla owners, $3b in debt, plot luxury Sydney family compound
The family behind the ailing property empire plan to construct a mansion with an underground pool and tennis courts despite an escalating crisis at the group.
Bill Gates and the dream to take data centres to the outback
The energy solution for the Australian data centre frenzy could lie thousands of kilometres away from Sydney and Melbourne.
Gas tax plans to be enshrined in ALP policy platform
Labor’s national conference next week will ensure a tax on the resource remains on the agenda as part of a broader shift towards wealth redistribution that began at the May budget.
Sydney Airport lets passengers pay to bypass queues
The new Fast Track pass is available to anyone flying internationally, the only downside is that it’s only available for travel in one direction.
Deeming dumped from Victorian Liberals
The maverick MP will not be allowed to recontest the November election for the party after the state executive disendorsed her.
WEEKEND READS
Hanson is the global right’s new star, but did she go too far?
Pauline Hanson cemented her influential voice in the international conservative movement this week, but will her meetings with activist thug Tommy Robinson backfire at home?
Epic poem makes for a gripping film that defies expectations
The Odyssey is just shy of three hours long, and worth every minute as director Christopher Nolan rips off the sandals and modernises a 28,000-line poem.
The ‘coolest girl in college’ behind Andy Burnham’s rise
Marie-France van Heel is famous for a ‘Blind Date’ appearance and shares a love of The Smiths with the future UK prime minister. But there is much more to her.
The $4000 suit promising a two-hour workout in 20 minutes
Endorsed by Cindy Crawford and George Clooney, the outfits are gradually becoming more popular in Australia. But experts say their marketing claims are overblown.
An Israeli and a Palestinian choose to be ‘pro-solution’
Moving past “hummus and hugs”, a Palestinian peace builder and an Israeli security expert outline a path forward built on survival, not platitudes.
SMART INVESTOR
10 key questions for SMSF borrowers racing to beat the August 10 ban
The looming deadline creates immense pressure for property investors to act quickly, rushing into a complex structure without a strategy is a recipe for disaster.
Budget tax oddity sparks confusion over expat CGT
In what appears to be a legislative glitch, Australians who work overseas for even a short period may get big tax breaks on the sale of an investment property.
Downsizing is a mix of agony and nostalgia. Here’s how to get it right
Two million Australians want to farewell the family home: here are seven expert tips for decluttering, choosing a new location and managing the transition.
The ‘sweet spot’ super strategy that makes $10,000 grow to $354,520
Savvy parents are using low-income superannuation rules to secure a $500 government co-contribution, giving their teenagers a major financial head start.
How a rare regulatory win can unlock a retirement machine
Plenty of smart investors have tried and failed to ride Australia’s retirement wave. But the regulator’s intervention means this time may be different.
It’s the newsletter read by partners and consultants at Deloitte, EY, KPMG and PwC. The latest industry news and moves, in your inbox every Wednesday.
Companies
Under-fire Telstra bosses admit key software update was ignored
Over 2.5 hours of questioning before senators on Friday, Telstra revealed critical holes in its systems and records that caused last week’s nationwide outage.
Keating’s radical pension proposal must revive stalled super reforms
A peak body says the former prime minister’s call to integrate Centrelink and super should prompt action on long-promised financial advice reform.
Famous jeweller pursued in court for $1.5m alleged tax debt
The tax pursuit comes just months after the iconic luxury retailer announced plans to overhaul its operations and close its Hay Street showroom.
Regional airlines’ failures threaten to leave 3m Australians grounded
A combination of old planes and soaring fuel prices threatens to cut off air travel for three million regional Australians by 2030.
‘Climate of fear’: Macquarie staff take aim at investment banking arm
Macquarie Capital employees have written to the board to complain about “unacceptable conduct” by managers in the high-profile division.
Coles abandons $4b Greencross deal after investor backlash
The supermarket operator has ceased discussions to acquire pet care company Greencross after more than nine months of negotiations.
‘Contagion risk’: Zen Energy collapse sends shockwaves through renewables industry
The demise of the Ross Garnaut-backed power retailer is set to have flow-on effects for several renewable energy projects.
SPONSORED
Markets
ASX value stocks smash growth as tax changes turbocharge rotation
The S&P/ASX 200 value index beat its growth counterpart by 25 per cent last financial year, the biggest outperformance in more than 16 years.
Australians getting a taste for leveraged ETF mania
Sydney investors are using crypto-trading apps to buy and sell Korean stocks amid a leverage-fuelled sharemarket boom that has sent volatility through the roof.
Ellerston names its ASX small-cap wins that still have further to run
James Barker’s fund has returned 29 per cent over the past year. He talks about his winners and reveals one stock he reckons the market is missing a trick on.
The ASX says IPO pipeline looks great. Investors aren’t so sure
The exchange’s James Posnett says FY26 was the strongest year since 2022. But one veteran stockpicker has said he isn’t interested in any upcoming floats.
Downing Street calls in private equity bosses amid London listing woes
The London stock market has failed to land a major initial public offering recently, despite a string of regulatory reforms.
Opinion
The World Cup has made America likeable again
Despite Trump bending the rule book, co-hosting the event has also been a successful PR exercise in an era where global anti-Americanism is rising.
Editorial
Labor’s best campaigner is Pauline Hanson
The One Nation leader’s gallivanting in Sicily matters because she built her appeal railing against an establishment that had forgotten ordinary people.
Former Labor adviser
Max Walsh would recognise this poor, little rich country
Rather than shoring up Australian prosperity, politicians have squabbled over how to redistribute it.
Columnist
Anti-intellectualism is ingrained in politics, and the kids are paying
The Liberal Party should show it is serious about attracting younger voters by pledging to unwind its disastrous Job-Ready Graduates scheme.
Political editor
Australia is racing to build AI. Are we measuring the right things?
The components that go into an AI factory, and where they are made, matter. That is the difference between building an AI industry and merely hosting one.
Firmus Co-CEO
Labor’s IR laws have lit the industrial tinderbox in the Pilbara
A new era of industrial strife looms large due to the Albanese government’s IR shake-up, which primarily serves the institutional interests of unions seeking to reclaim a seat at the table.
Editorial
Politics
Leaked meeting minutes reveal One Nation’s election planning
Notes from a branch meeting reveal the party had about 350 members in one Melbourne electorate, up 40 per cent since January, but lament a lack of experience.
Allan government offers teachers 28pc pay rise to avoid strikes
The revised offer brings the pay rises of support staff in line with teachers and principals, which was the key sticking point in negotiations last month.
Watchdog wants universities to adopt one definition of hate speech
The chief executive of the tertiary education regulator told the royal commission universities were reluctant to make calls on what amounted to antisemitism.
Woollahra ‘urban forest’ could get in the way of housing plan
Mayor Sarah Dixson says the aim is to protect trees not block houses, but locals concede it is a tactic that responds to controversial rezoning.
X appeals block on graphic Bondi video, claiming free speech rights
Elon Musk’s social media company challenges classification refusal in Federal Court, wants right to show terror victims “in the process of dying”.
World
Trump to sell traders fast access to market-moving posts
The president’s media company wants investors to pay for early access to Truth Social posts that could affect markets.
‘Election security nightmare’: Trump says China hacked voter files
Donald Trump accused China of stealing the voter registration details of 220 million Americans in a bid to influence the 2020 presidential election.
Xi challenges US with push to lead new global AI order
Xi Jinping says China will lead the creation of a new global AI order, challenging US influence as Australia overhauls its own artificial intelligence strategy.
The ‘coolest girl in college’ behind Andy Burnham’s rise
Marie-France van Heel is famous for a ‘Blind Date’ appearance and shares a love of The Smiths with the future UK prime minister. But there is much more to her.
England heartbreak, but Beckham still a big winner in this World Cup
The English soccer legend has been an inescapable brand ambassador in the 2026 tournament, appearing in 10 campaigns to net up to an estimated $36 million.
Property
‘Suburban paradise’: Resort-style Brisbane home to recalibrate records
A three-level mansion and “inner-city oasis” built across five-blocks is one of the city’s most significant trophy listings of the year.
Former Lendlease CEO takes $11.5m slice of Sydney mansion
Recently departed Lendlease CEO Tony Lombardo and his wife have bought a house-sized apartment in historic Babworth House in Sydney’s east.
Bathla owners, $3b in debt, plot luxury Sydney family compound
The family behind the ailing property empire plan to construct a mansion with an underground pool and tennis courts despite an escalating crisis at the group.
Falling home ownership threatens Sydney’s wealth machine
The city’s lack of affordable housing is pricing first home buyers out of the market and prompting some young families to leave altogether.
Seek co-founder buys luxe apartment in billionaire’s cul-de-sac
The co-founder of Seek and Square Peg, Paul Bassat, and his wife Sharon have landed a harbourside apartment in an exclusive cul-de-sac.
Wealth
Budget tax oddity sparks confusion over expat CGT
In what appears to be a legislative glitch, Australians who work overseas for even a short period may get big tax breaks on the sale of an investment property.
Australia’s 50 richest bosses mauled
The nation’s wealthiest executives collectively lost more than $11 billion last financial year after the rout in technology stocks, but miners emerged as winners.
Downsizing is a mix of agony and nostalgia. Here’s how to get it right
Two million Australians want to farewell the family home: here are seven expert tips for decluttering, choosing a new location and managing the transition.
Technology
Where’s the money? Labor urged to fund local AI promises
The AI industry thinks the government is saying the right things about building local capability, but failing to invest the necessary cash to make it happen.
Our favourite earbuds just got an upgrade
Sound quality isn’t the first reason you’d buy a pair of OpenDots earbuds, or even the fourth reason, but Shokz has improved the sound all the same.
OpenAI’s first device will be a movable, screenless, smart speaker
The planned device will help control smart-home appliances, play media, answer questions, respond to messages and tap into the myriad functions of OpenAI’s ChatGPT.
Work & Careers
Unions want to charge non-members for pay rises
The AMWU has put out a paper saying it will campaign to charge “free-riding” non-union members a bargaining fee if they are covered by union agreements.
KPMG partner removed from Westpac audit, leaves firm
Kim Lawry had already been fined $19,000 for viewing confidential Lendlease board papers before KPMG’s pitch for Westpac’s audit file.
Life & Luxury
These five destination distilleries are more than worth the trip
Blend your own single malt in a sandstone village, distil your own gin with hand-picked botanicals, and taste the vodka officially crowned the world’s best.
This Australian stared down art elites to win the Guggenheim top job
Museum director Melissa Chiu has not only survived Washington DC’s brutal culture wars, but triumphed. Next stop? New York.
Epic poem makes for a gripping film that defies expectations
The Odyssey is just shy of three hours long, and worth every minute as director Christopher Nolan rips off the sandals and modernises a 28,000-line poem.
How the GLP-1 boom is reshaping supermarket trolleys
Food retailers may have to drastically rethink shopping behaviours, with an estimated three in 10 Australians projected to use the drugs, which suppress appetite, within the next decade.
Honda’s not-quite-a-sports car is a head-turning blast from the past
After a quarter of a century, the Prelude is back and this time, it’s a hybrid.
