Wednesday, 13 May - I'm my own grandpa

May 13, 2026

Good morning, it’s Wednesday, 13 May. In your Squiz Today…

  • Not many surprises but plenty of changes in the federal Budget

  • A record native title payout in Western Oz

  • And Eurovision kicks off…

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Squiz the Weather

Squiz Sayings

“Our state sits atop the nation’s foodie must-visit list.”

Said South Oz Tourism Minister Emily Burke after the state announced it will become the first in Oz to feature in the Michelin Guide, the French tyre company’s fine dining bible. So you never know, South Aussies - your local takeaway could have a Michelin star any day now… 

WATO’ing the line

The Squiz

If you were rubbing your hands together last night hoping for a surprise in Treasurer Jim Chalmers’ Budget speech, you would have been as disappointed as these San Franciscans who can’t find Chonkers, their resident sea lion… There wasn’t much fresh, minty newness because lots of it was announced or hinted at before last night, but there was some heft. Some commentators are calling it the Albanese Government’s most ambitious Budget since it was elected in 2022 because (brace yourself…) we’re talking about reforms to capital gains tax (CGT) and negative gearing that will save the government $77.2 billion over a decade, and a tax benefit for more than 13 million workers called WATO…

Wato dat?

The Working Australians Tax Offset (pronounced way-tow…). It’s a $250 tax offset, and it will cost $6.4 billion - but it won’t kick in for a couple of years. The Albanese Government is partly paying for it by ditching negative gearing for existing homes purchased after 7.30pm last night. It’ll also scrap the 50% capital gains tax discount for assets held before 1985 from July next year, and introduce a minimum CGT rate of 30%. Cue talk of ‘grandfathering’, which means people currently benefiting from something are allowed to continue, and that’s in play here. It’s contentious because progressives/those trying to buy a home want no grandfathering at all to free up more housing supply, but Team Albanese is trying to manage the potential anger of more than a million Aussies who currently benefit from these measures.

Why is this a big deal?

Overall, the moves are meant to discourage people from holding on to property in retirement - or as the Financial Review put it (paywall), it’s whacking Boomers to woo youngsters. Another talking point we’d point you to is it’s time to say hello to our nation’s gross debt hitting $1.1 trillion next financial year - and that’s not coming down this decade. As for what’s on the agenda today, given PM Anthony Albanese previously said changes to negative gearing/CGT were off the table, we’ll likely see the Coalition cry “broken promises” while Chalmers sells the responsible budget message, so strap in… And as is our tradition, you can make sense of what it means for you via the ABC’s winners and losers guide. May you take more from column A than column B…

The autumn city-swap

Now that the long weekends are done, you might be thinking about your next getaway - and this year's Sydney Comedy Festival could be just the ticket. It's the festival's 21st anniversary, so the lineup is massive: think international headliners at the Opera House and hidden gems in the Inner West. A great reason to book those flights and leave the entertaining up to others - you can have a look at the lineup and start planning out your itinerary now...

Squiz the Rest

Another military training tragedy

Tributes were flowing from government and military personnel yesterday for SAS Warrant Officer Lachlan Muddle, an elite paratrooper who died on Monday night in an accident at the Jervis Bay defence base, south of Sydney. The 50yo highly experienced parachutist collided mid-air with another instructor who survived with minor injuries. Muddle was described by Defence Minister Richard Marles as one of the ADF’s “finest” and an “expert sniper” who’d served in 5 deployments including in Afghanistan. It’s the second training fatality involving parachutes after former Defence Minister Joel Fitzgibbon’s son Jack died in an accident in 2024. All parachute training has been suspended, but Marles says he’s “confident in the activities being undertaken by the ADF”.

A landmark payout

A long legal battle between mining giant Fortescue and the Yindjibarndi people in Western Oz came to an end yesterday with the Federal Court awarding the biggest native title compensation payout in Oz history. The traditional owners were awarded $150.1 million in damages after Fortescue - called FMG at the time - was found to have mined hundreds of millions of tonnes of iron ore from their lands without their permission. The court heard that the company, founded by businessman Andrew ‘Twiggy’ Forrest, built his lucrative Solomon Hub mines and began production in 2013 without reaching an agreement with the traditional owners. They were awarded for cultural and economic loss, with the court acknowledging their “deep and visceral connection" to the land.

Betting on blowback

Budget papers weren’t the only thing tabled yesterday - the Albanese Government also dropped its response to a 2023 report into gambling reform, led by late Labor MP Peta Murphy. It covers reforms PM Albanese announced in April, like partial restrictions on TV/radio gambling ads and bans on stadium/sports jumper ads. There’s no word, though, on an online gambling regulator - one of Murphy’s key recommendations. And that’s not the only reason gambling reform advocates aren’t happy… Critics like Independent Senator David Pocock said releasing the response while many journos were dealing with a Budget lock-up was “cowardly”. But Health Minister Mark Butler rejected that, saying they aren’t trying to bury it…

Lots in a name

There’s been a big medical name change overnight: the condition polycystic ovary syndrome (PCOS) will now be known as polyendocrine metabolic ovarian syndrome (PMOS). PMOS, as it’s now known, is a hormonal disorder that can lead to infertility and Type 2 diabetes. It affects about 1 in 8 women worldwide, but this name change is a lot more than one letter in an acronym… According to Oz endocrinologist Professor Helena Teede, the word “polycystic” in the original name was inaccurate because women with PMOS don’t have a higher rate of abnormal cysts than those without - and sometimes, don’t have cysts at all. She says focusing on the ovaries - when the condition has a much wider impact on the body - led to high rates of delayed diagnosis, so the hope is that’ll change going forward…

The Wonder of Eurovision

The massively popular song contest is running its 70th edition this year, and the first semi-final is underway as we speak. The World Cup of Kitsch is taking place in Vienna after the Austrian singer JJ won it last year. It’s a smaller contingent of countries participating than usual - Spain, Ireland, the Netherlands, Slovenia and Iceland are all boycotting the comp over Israel’s participation. We’re still going, though, and we’ve sent popstar Delta Goodrem and her song Eclipse, which is considered a big contender. But she’ll have tough competition, particularly from Finland and Greece, who are the current frontrunners. The final is this Sunday morning - you can watch it all on SBS.

Apropos of Nothing - TV edition

The New York Times game Wordle - which was a viral sensation in 2021 before the US newspaper bought it - is becoming a game show. It’ll air episodes next year, and be hosted by the US TV presenter Savannah Guthrie. Time to p a - t y, word nerds…  

If that’s not your thing, maybe a new Fast and the Furious TV show would be more your, um, speed… Franchise star Vin Diesel confirmed yesterday that a series is in development, but look, it might be hard to top that time the movies sent a car into orbit… 

And if that’s still not your thing, perhaps an adaptation of viral romantasy (that’s romance and fantasy) book series Fourth Wing might be in order… Executive producer Michael B. Jordan announced the series for Prime Video yesterday, but worth noting - he’s not in it… 

Squiz the Day

9:30am (AEST) - A 3-day inquest will begin into the 2023 death of 95yo aged care resident Clare Nowland, when she was tasered by a police officer in her nursing home in Cooma, NSW - Queanbeyan

9.00am (AWST) - 20yo Jayson Michaels is set to face court on 5 charges, including acting in preparation for a terrorist act - Perth

12.30pm (AEST) - Treasurer Jim Chalmers will deliver his post-budget address to the National Press Club - Canberra 

The winner of this year’s Stella Prize literary award will be announced

Split Enz will kick off their Australian tour, with a show in Melbourne tonight before heading to Brisbane, Sydney, Perth and Adelaide

The Commonwealth Bank will release its third-quarter trading update

ABS data release: Wage price index, March 2026; Lending indicators, March quarter 2026

Birthdays for singer Stevie Wonder (1950), former PM Scott Morrison (1968), and happy 40th birthdays to actors Lena Dunham and Robert Pattinson

Anniversary of:

Captain Arthur Phillip leaving Portsmouth, England with 11 ships of criminals bound for Botany Bay (1787)

The first-ever race of the F1 World Drivers Championship (1950)

The death of actor Ruth Cracknell (2002)