Tag Archives: oceania

Likely changes to property tax breaks could fall flat: major bank

Commonwealth Bank has forecast the impact of potential changes to the capital gains tax (CGT) discount and negative gearing could fall flat for prospective home buyers, with only a "modest" decrease to house prices.

In a pre-federal budget analysis, economists from the big four bank, Luke Yeaman and Harry Ottley, said reforming the property tax benefits would only have a modest impact on lowering house prices and increasing productivity.

It estimates house prices could fall by 1.4 per cent with changes to the CGT discount and 2 per cent if coupled with an abolition of negative gearing.

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Generic scenes of Commonwealth Bank of Australia logo and words, CBA, Banking, office buildings. Monday 13th Janusry 2025 AFR photo Louie Douvis

"The largest benefit will be higher long-term government revenue and a stronger budget," the economists wrote.

"Additional short-term volatility in the housing market is likely though, especially at a time when the interest rate cycle and slower population growth is also shifting prices and market sentiment."

Commonwealth Bank said changing the two policies may help affordability, as the median house price exceeds $1 million, but it will not solve the housing crisis.

"Boosting supply is still the key," the economists said.

The government has been dancing around what will be included in its tax reform, but has confirmed that one of the measures on the table is changes to the controversial CGT discount and negative gearing.

Critics have blamed the two property tax benefits for contributing to the housing crisis, with a Greens-led Senate inquiry finding the CGT discount is flawed and benefits investors over first-home buyers.

Two Labor senators endorsed the inquiry's report.

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Aerial urban suburban cityscape landscape view in Perth Western Australia.

However, some industry experts like the Finance Brokers Association of Australia warn that changing the policies could disincentivise investment in the housing sector and place upward pressure on rent.

If reformed, it would be the first time the CGT discount is rolled back since the Howard government raised it to 50 per cent in 1999 and the first time negative gearing is changed since it was temporarily limited by the Hawke/Keating government in 1987.

Treasurer Jim Chalmers has refused to confirm or deny whether the two policies will be changed and said the federal budget has not been finalised.

"Intergenerational fairness is a really important way that we address some of the substantial and understandable issues in our budget, in our tax system and in our economy more broadly," he said yesterday.

"What we are determined to see is a fairer economy that works for more people, including for younger people."

Chalmers told Nine's Today that there are other changes they are making to soothe housing pressures.

"If we did go down that path, I would encourage people to look right across the board at everything that we're doing in housing, not one or two policies in isolation," he said.

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Christchurch shooter to remain behind bars for life

An Australian white supremacist who shot and killed 51 Muslims at two mosques in Christchurch, New Zealand, in 2019 has failed in an attempt to overturn his convictions.

The NZ Court of Appeal dismissed Brenton Tarrant’s claim that harsh prison conditions prompted his involuntary admission to the terrorism, murder and attempted murder charges he faced.

A panel of three judges rejected Tarrant’s bid to abandon his guilty pleas, finding it was "utterly devoid of merit".

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Tarrant, now aged 35, murdered 51 worshippers and injured dozens more in March 2019 when he drove to two Christchurch mosques and opened fire with semi-automatic weapons during Friday prayers.

Tarrant’s guilty pleas in March 2020 brought relief to bereaved families and survivors of the attack, who dreaded the prospect of a lengthy trial and feared he would use it to air his hateful views.

He was sentenced to life without parole on the murder, attempted murder and terrorism offences.

The rejection of his appeal bid – which the court noted was made 505 days after the legal deadline for it to be filed – means such a trial has once again been averted.

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His claim of mental illness was rejected

At the court's five-day hearing in February, the attacker argued his admissions of guilt were provoked by “irrationality” induced by poor mental health, which led him to desert his racist views for a time.

The judges concluded, however, that his claims of mental illness were inconsistent and weren’t supported by prison staff, mental health professionals or lawyers who had earlier represented him.

“He was not suffering from a mental impairment or any other form of mental incapacity which rendered him unable to voluntarily change his pleas to guilty,” the judges wrote in today's ruling.

“He endeavoured to mislead us about his state of mind in a weak attempt to advance an appeal in circumstances where all other evidence demonstrated that he made an informed and totally rational decision to plead guilty.”

The court's ruling also revealed that Tarrant sought to abandon his appeal shortly after making his case at the hearing in February.

The judges rejected that bid too, writing that the case was “of significant public interest and should be finally determined".

They suggested that Tarrant “began to form the opinion that the hearing was not proceeding in his favour, and as a result decided to file a notice of abandonment after the hearing concluded".

New Zealand law doesn’t require judges to allow an appellant to quit an appeal bid once it’s underway.

190614 Christchurch mosque shootings Brenton Tarrant court not guilty plea crime news World New Zealand Australia

He will remain in jail for life

Tarrant, who has since fired the lawyers acting for him in February, remains in Auckland Prison, where he was sentenced in August 2020 to spend life in prison without the chance of parole.

The judges allowed him to abandon his appeal to that sentence, which was scheduled to be heard later in 2026.

The Australian-born man moved to New Zealand in 2017 with a plan to commit a mass shooting.

He amassed a cache of weapons and made a reconnaissance trip to the sites of his planned crimes before the attack.

The appeal court judges wrote that Tarrant had accepted the summary of facts presented to him by the police and the sentencing judge and noted that the case against him was “overwhelming.”

Evidence included footage of the attack that the shooter filmed himself and livestreamed on the internet, in which he showed his own face, and a document outlining his racist views that he published online before the attacks under his real name.

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If you or someone you know is in need of support, contact Lifeline on 13 11 14 or Beyond Blue.

Latham ordered to pay $100k for offensive tweet to MP

Former federal Labor leader Mark Latham has been ordered to pay a fellow state MP the maximum available penalty for vilifying him for his sexuality.

The 65-year-old will be forced to pay Alex Greenwich $100,000 after a tweet directed at him was found to be unlawful sexual harassment.

The sexually explicit tweet from the NSW upper house independent in 2023 has previously been ruled to be defamatory by the Federal Court.

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Independent MP Mark Latham speaks to media in Camden on Saturday 19th July 2025. Photo: Sitthixay Ditthavong

Latham's tweet came in response to a post quoting Greenwich describing him as a "disgusting human being".

The online sparring match between the two politicians followed violent protests outside a church in Sydney's southwest, where Latham was giving a pre-election speech in March 2023.

The NSW Civil and Administrative Tribunal imposed the maximum penalty due to the extreme abuse Greenwich received and the intense impacts he felt.

It found that Greenwich had suffered extreme psychological damage as a result of Latham's actions.

The tribunal did not order Latham to produce an apology, saying it would be pointless given it would likely not be genuine.

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Greenwich welcomed the decision and said the result was a landmark ruling for LGBTQIA+ rights in the state.

"This decision sends a clear message: public figures are not above the law, and online platforms are not a space for unlawful vilification," the member for Sydney said in a statement.

"The tribunal has made clear that the law does not require anyone to endure unlawful vilification or sexual harassment."

Latham was ordered to remove any material from his social media that vilifies Greenwich based on his homosexuality and to refrain from making any more unlawful vilifying statements.

He is also ordered to pay Greenwich's legal costs.

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‘It’s official’: Raygun’s update after losing university job

Olympic breakdancer Raygun has raised concerns about the state of higher education in Australia weeks after she took a voluntary redundancy from a Sydney university.

Rachael Gunn worked as a lecturer in the faculty of arts at Macquarie University until February.

The competitive breakdancer rose to prominence when she competed at the 2024 Olympic Games in Paris and lost all three of her breakdancing battles.

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Olympic breakdancer Raygun has taken a voluntary redundancy from a Sydney university.

After the news of her redundancy was made public this week, the academic told The Sydney Morning Herald she felt concerned about university students and staff.

She raised concerns about the student experience, psychosocial hazards facing staff, and spending on buildings, consultants and executive pay.

"We need to have a serious conversation about higher education in this country," Gunn told the newspaper.

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Gunn has been focused on public speaking engagements in recent months.

"I'm very worried for my colleagues, I don't think that things are getting better for them."

A Macquarie University spokesperson said they were unable to comment or confirm details about the confidential employment arrangements involving individual staff.

"This is our standard practice for legal and privacy reasons," the spokesperson said.

Since she left her academic job, she has focused on public speaking engagements.

She shared the link to her new public speaking booking website today, telling her followers "it's official".

Gunn's performance at the Olympics became an overnight sensation, attracting the attention of media outlets and audiences around the world, although a large part of the response was unkind.

After her performance was the subject of thousands of social media posts, Gunn took to Instagram with her head held high.

"Don't be afraid to be different, go out there and represent yourself, you never know where that's gonna take you," she wrote at the time.

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