Australia news live: Chalmers reveals Keating influence on super tax backdown; cost of cybercrime soars | Australia news
Chalmers reveals his influence on Keating’s watered-down supertax plan
Adeshola Ore
Accountant, Jim Chalmers, He said he spoke to the former Labor prime minister Paul Keating Many times while finalizing the federal government’s watered-down retirement tax plan.
Albania’s government backtracked on its contentious plan on Monday, abandoning a proposal targeting unrealized gains after sustained criticism.
Keating, the architect of Australia’s superannuation system and a critic of Chalmers’ original proposal, called the revised plan “a major policy achievement” in a statement.
Speaking to the ABC’s 7.30pm program last night, Chalmers said he took Keating’s feedback and views “very seriously”.
I spoke to him probably half a dozen times in the second half of last week alone as we were finalizing this package to present to the spending review committee.
He said the government had listened to feedback and found another way to deliver a fairer pension system:
It’s really important that we make these tax concessions more sustainable. It is really important that we take the difficult and necessary steps that will carry the system into the future.
These are just responsible, pragmatic changes.
important events
Continuing on this topic of supershifts, you can read our economics editor Patrick Commins’ analysis here:
Australian businesses are rapidly losing money due to cybersecurity threats, as the country’s leading cyberespionage agency warns of increasing ransomware and identity fraud risks, Australia’s Associated Press reports
The Australian Signals Authority’s annual cyber threat report reveals that cybercrime reports are falling but businesses are facing a greater financial impact.
According to a report by the Australian Associated Press, the average cost of cybercrime to large businesses was $202,700 last financial year; This figure increased by 219 percent compared to the previous year.
The Australian Signals Directorate’s annual cyber threat report calculates that an average of $97,200 is lost per medium-sized business.
The average cost of cybercrime for small businesses was $56,571.
The directorate received 84,700 cybercrime reports in the last financial year, down 3% on the previous 12 months.
The agency’s chief executive, Abigail Bradshaw, said ransomware and identity fraud remained the most devastating and widespread cybercrime threat.
“Australia is becoming a target for cybercriminals looking to steal credentials,” Bradshaw said.
“Once access is gained, they mimic legitimate user behavior to steal sensitive personal or corporate information, install ransomware or malware, and take over accounts.”
Rather than being hacked, networks are increasingly being breached through compromised or stolen details to gain unauthorized access.
Chalmers reveals his influence on Keating’s watered-down supertax plan
Adeshola Ore
Accountant, Jim Chalmers, He said he spoke to the former Labor prime minister Paul Keating Many times while finalizing the federal government’s watered-down retirement tax plan.
Albania’s government backtracked on its contentious plan on Monday, abandoning a proposal targeting unrealized gains after sustained criticism.
Keating, the architect of Australia’s superannuation system and a critic of Chalmers’ original proposal, called the revised plan “a major policy achievement” in a statement.
Speaking to the ABC’s 7.30pm program last night, Chalmers said he took Keating’s feedback and views “very seriously”.
I spoke to him probably half a dozen times in the second half of last week alone as we were finalizing this package to present to the spending review committee.
He said the government had listened to feedback and found another way to deliver a fairer pension system:
It’s really important that we make these tax concessions more sustainable. It is really important that we take the difficult and necessary steps that will carry the system into the future.
These are just responsible, pragmatic changes.
Welcome
Good morning and welcome to our live news blog. I Martin Farrer with the best night stories and then Nick Visser will take over.
Accountant, Jim ChalmersHe said he spoke to former Labor prime minister Paul Keating “half a dozen times” last week as he finalized the federal government’s watered-down pension tax plan. More is coming.
While the last living Israeli hostages were released by Hamas overnight, Penny Wong described the moment as “an unparalleled achievement” Donald Trump. The foreign secretary described it as an “extraordinarily moving” day and a huge relief for people in Israel and Australia. In less time.
The cost of cybercrime to Australian businesses rose sharply last year, according to a new report; for large companies, that figure more than doubled, reaching an average of $200,000. We’ll have more information about this soon.
