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Labor prepared to fast-track fix to negative gearing ‘widow tax’

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Treasurer Jim Chalmers says the government is prepared to fast-track a fix to the unintended “widow tax” created by its changes to negative gearing if it will win the Coalition’s support to save $37 billion in NDIS spending.

Opposition Leader Angus Taylor issued the government an ultimatum for its support on the NDIS, which is to fix the loophole unintentionally cutting off home owners from negative gearing if their partner dies or they separate due to family violence.

Property investors are still able to claim rental losses on their income tax, known as negative gearing, if the home was bought or settled before budget night. But the government’s tax changes announced in May introduced an unintended consequence for co-owners of an investment property that meant if one of them died, the partner who inherited their share of the property would lose the ability to negatively gear it, since it now counted as a new ownership for tax purposes.

The federal government has introduced draft legislation that would fix the loophole as part of a second tranche of housing tax reforms. However that bill was not expected to be dealt with this fortnight.

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Albanese announces $60m for Ukraine at Zelenskyy meeting

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Prime Minister Albanese has announced that Australia will provide an additional $60 million in support for Ukraine following a high-level meeting with President Volodymyr Zelenskyy on the sidelines of the UN General Assembly in New York.

During the meeting, Albanese emotionally praised Zelenskyy’s leadership, referring to him as “my friend,” and signed a 10-year bilateral security agreement. The new support package allocates $45 million in ADF defense equipment, $10 million for Ukraine’s energy support fund, and $5 million in humanitarian aid. This brings Australia’s total commitments to Ukraine to $1.9 billion since the 2022 Russian invasion. The agreement also outlines long-term security cooperation, including enhanced military training and joint production initiatives for drones, missiles, and air defense systems.

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Victoria’s crime rate continuously falls

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Youth crime has dropped in Victoria as the state’s record crime rate continues to fall, new figures show.

The latest crime data, released today, reveals that in the past year to June, the state’s crime rate dropped by 3.8 per cent. Police say organised crime, repeat offenders, mental health and drugs are the main drivers of crime, with trafficking and dealing drugs such as cocaine, meth, ecstasy and prescription drugs spiking by 18.5 per cent.

While police say crime in Victoria remains “unacceptably high” at more than 13 per cent higher than three years ago, several major crimes decreased. Crime Statistics Agency Chief Statistician Fiona Dowsley told 774 ABC Melbourne that a 20 per cent drop in burglaries and break-ins was “really significant”, but that the cause of the fall was difficult to determine.

Regional Operations Deputy Commissioner Bob Hill said the drop in the state’s crime rate was promising, but more work still needed to be done to make Victorians feel safe.

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Medicare portal being hacked by OpenAI according to Albanese

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Speaking in New York, Prime Minister Albanese said an OpenAI agent gained unauthorised access to the Medicare statistics reporting service portal administered by Services Australia on June 18.

The AI agent accessed both public and non-public files, but Albanese said it did not appear anyone’s personal Medicare details were accessed.

It is known that OpenAI accessed non-public aggregate health statistics and internal files from an old Australian government website that carried Medicare statistics.

It is also understood an AI crawler, which is an automated program that scans websites and collects information from them, was able to find a security workaround to access the data.

Albanese also said he had a “frank” discussion with OpenAI’s chief executive Sam Altman, saying the company took three months to notify the government of the breach and, when it did, the notification was in an email sent to the Services Australia public inbox.

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