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The Latest Breaking News from Jim Chalmers

Capping super balances is a logical fight to have in a country that prides itself on equality – but logic isn’t the default

If we can’t agree that generous tax concessions provide benefits to people who really don’t need help, while depriving the budget of funds for things we all need, things are really cooked

The Guardian - AU

Teal MPs say capping superannuation at $3m might undermine confidence in saving for retirement

Despite this pushback, most crossbench MPs remain open to debate, and several independent senators have spoken in favour of curbing some super tax concessions to help budget repair

The Guardian - AU

The Ferguson Report: Irony declared dead as publisher announces ‘sensitivity rewrite’ of 1984

The classic political novel 1984 will be rewritten by Inclusion And Diversity specialists who think they know better than George Orwell.

The New Daily

From analysis to the latest developments in health,
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Superannuation should not be used for cosmetic surgery, Stephen Jones says

Australia’s assistant treasurer warns using loopholes to ‘game the system’ risks ruining early funds release for those who need it

The Guardian - AU

Dutton ready to fight for the super wealthy – the 0.005 per cent of Australians

“The whole idea of superannuation is it provides for people's retirement so that they can lead a dignified retirement,” Mr Dutton said.

The New Daily

What the Treasurer’s proposed cap on superannuation balances means for you

Treasurer Jim Chalmers opened the debate on superannuation reform when he released the likely wording for the objective of superannuation

The New Daily

Grattan on Friday: Defining superannuation's 'objective' should leave room for debate about its use for housing

The Albanese government is prodding the superannuation bear, which can be a dangerous beast when stirred.

The Conversation

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Will the RBA keep raising rates as your wages fall? Economists say yes

ABS figures show no evidence of the wage-price spiral so feared by the Reserve Bank, and Jim Chalmers says wages growth ‘isn’t the problem’.

Crikey

Treasurer looks for inflation solution at G20 summit

Treasurer Jim Chalmers will meet G20 counterparts in India to discuss tackling global inflation and supply-chain challenges spurred by the war in Ukraine.

AAP

Potential superannuation changes floated by Labor dubbed broken election promise by Coalition

The federal Coalition takes aim at the government's decision to open a conversation about superannuation changes, with Treasurer Jim Chalmers saying Labor does not want to "revolutionise" the system but is open to tweaking it.

ABC News

Strapped for cash

Despite wages rising at a record pace, Australians are worse off because inflation has ballooned to 7.8%, and Treasurer Jim Chalmers looks at capping superannuation fund balances at $3 million.

Crikey

Jim Chalmers signals cap on super balances to rein in tax concessions for wealthy

The treasurer suggested that the small percentage of people with pots over $3m should not receive tax benefits, but prime minister more cautious

The Guardian - AU

Afternoon Update: super tax changes on the table; Andrew Tate detention extended; and introducing Wordiply

The federal government is hinting at possible tweaks to superannuation concessions in the coming May budget

The Guardian - AU

What are Australia’s tax concessions on super and are they a problem?

Tax concessions on retirement savings are costing the budget billions and some people are accumulating mega balances

The Guardian - AU

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ABC News

Changes to superannuation are being floated by the federal government. Here's what's being considered

The federal government has made it clear it wants to have a conversation about changing our superannuation system. Here are some of the ideas being put forward by it and other groups.

The Guardian - AU

Superannuation tax changes on the table as treasurer calls for ‘national conversation’ on cost

Jim Chalmers says Labor has not changed its position but had to acknowledge ‘pressures on the budget’

AAP

Warning on espionage interference raises red flags

Australia's national security chief has faced pressure to stop operations to avoid upsetting foreign regimes, which the treasurer says is concerning.

AAP

Treasurer wants 'national conversation' on super taxes

Jim Chalmers says he won't "pretend away" pressures on the federal budget which includes superannuation tax concessions.

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The Guardian - AU

David Pocock says super tax concessions should be up for discussion amid cost-of-living crisis

The Coalition has accused Labor of breaking election promises despite no new policy proposals being put forward

The Conversation

See when Australia's biggest banks stopped paying proper interest on your savings – and what you can do about it

Whenever interest rates went up in the past, I used to get told it wasn’t all bad news. At least it was good for some people: savers – people with money in the bank.

The Guardian - AU

Australia needs a new plan to keep rural banks open before they all get turned into cafes

Financial services are essential to keeping regional areas alive but continuing bank closures are putting communities at risk

The Guardian - AU

Rising interest rates may be Labor’s kryptonite – but remember it never ended up killing Superman

Are the Reserve Bank’s decisions to keep hiking the cash rate damaging the Albanese government’s economic credentials?

Crikey

Here’s looking at you, super

Assistant treasurer Stephen Jones says people have been pressured to tap into their superannuation for cosmetic surgery, and children who breach bail in Queensland will again be charged with a criminal offence.

The New Daily

The four principles that redefine the true purpose of superannuation

If you asked 10 people on the street what super is for, they’d all likely say “money for your retirement”.

The New Daily

Finding ‘true north’: Treasurer Jim Chalmers unveils fresh goals for our retirement savings

“We’ll move to end the super wars once and for all, and make sure that future changes to the system are compatible with its very objective.”

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