Wednesday, 2 July - God bless the great indoors

Good morning, it’s Wednesday, 2 July. In your Squiz Today…

• The super tax debate fires up

• Wild weather batters the NSW coast

• And it's the end of the line for the Royal choo choo… 🚂

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Squiz the Weather

Squiz Sayings

Said Governor-General Sam Mostyn on Channel 7’s Sunrise yesterday, about why PM Anthony Albanese often uses her lawn for walking his dog Toto - it's all the extra space. She also shouted out her Squiz Kids interview, where she assured the kids of Australia that she has to do homework too - you can check that out here…

Sizing up the super tax

The Squiz

It's that time of year when lots of us think a bit more deeply about tax and superannuation, and wouldn't you know it, the Albanese Government's proposed super tax is back in the headlines and facing some tricky questions. It's those on the same side of politics as the government that are doing the asking, with both former Labor PM Paul Keating and the Australian Council of Trade Unions Secretary Sally McManus querying if the tax - which impacts people with super balances over $3 million - will eventually also affect the 'average' Aussie worker. 

Remind me about the super tax… 

Basically, anyone with a balance of $3 million or more will now have the earnings on their super balance over that level taxed at twice the existing rate, so 30% instead of 15%. Team Albanese calls this a "modest change" that won't affect the majority of Aussies, while bringing in billions for the national budget. But it's caused debate - some are concerned because it will factor in 'unrealised' gains on properties that make up part of their super, and McManus is worried that people on an average wage will eventually get to that $3 million mark as well. So she wants the tax 'indexed' - which means that the $3 million threshold would rise in line with inflation/wage growth - so 20 years from now it could be $5 million instead, which would affect fewer people's balances.  

Wait… a $3 million balance could be average?

Well, not at the moment - here’s a list of the average Oz super balances, which are in the hundreds of thousands - but the argument goes that more people who are early in their super journey would reach that balance 30 years from now, when you take inflation into account. That's something that was flagged by Keating, who introduced compulsory super decades ago, and is why many, including the Coalition and the Greens, want indexation. That’s worth noting because support from the Greens will ensure the proposal gets through the Senate and becomes law when parliament returns (even though the tax change technically kicked in yesterday). As for whether any of this will change Treasurer Jim Chalmers’ mind, watch this space…

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Squiz the Rest

A grim health warning…

… Has been given to the parents of 1,200 children, who have been told to undergo testing for infectious diseases after police arrested a Melbourne childcare worker for alleged child sexual abuse. Joshua Brown has been accused of more than 70 offences against 8 children, aged from 5mo-2yo, at a childcare centre in Point Cook, southwest of Melbourne, from April 2022 to January 2023. Police say the “incredibly distressing investigation” began after they allegedly discovered child abuse material and searched the 26yo’s home. Health authorities say they’re being extra “cautious” in suggesting other children linked to the case be tested. Premier Jacinta Allan said she’s “sickened” by the allegations, and says the state’s early childhood regulator has opened an investigation. Brown will appear in court on 15 September.

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The storm’s still raging

Residents in NSW have been warned that the severe weather brought on by a “bomb cyclone” system will continue today, with forecasters predicting strong winds of up to 125kmph as the system moves down the coast. Emergency services have responded to over 1,700 calls for help, and at least 26 warnings are in place from Moruya on the South Coast up to the Northern Rivers. Especially at risk are people living near coastal erosion hotspots on the Central Coast; they've been told to evacuate, and those in the South Coast region of Jervis Bay have been urged to stay indoors due to damaging winds… And while we're getting battered, it's the opposite for Europeans, with an “unprecedented” heat wave bringing temps in the mid to high 40s across the continent.

A big beautiful bill blow-up

Elon Musk, the world’s richest man/former head of the US Department of Government Efficiency and US President Donald Trump are at loggerheads again over Trump’s ‘Big Beautiful Bill’. The federal budget bill is controversial… Alongside cutting health insurance coverage for 12 million Americans, the Congressional Budget Office has estimated it’ll result in the national debt increasing by trillions of dollars. That’s prompted Musk to double down on his criticism this week, calling out Republicans who “campaigned on reducing government spending” and then “immediately voted for the biggest debt increase in history”. Trump’s not happy with that - in response, he’s threatened to look at the subsidies Musk’s companies currently receive. FYI - the bill narrowly passed the Senate overnight after more than 24 hours of debate, and it now heads back to the lower house for a final vote.

Another day of sun…screen trouble

For the middle of winter, we sure are talking about sunscreen a lot right now… After consumer advocacy group Choice kicked off a series of SPF-bombs by claiming several Aussie sunscreens didn’t protect our skin well enough, now a couple of sunscreens are in the gun for greenwashing (aka making environmental claims that don't stack up). The Australian Consumer and Competition Commission (ACCC) says Edgewell Personal Care, the owner of the brands Hawaiian Tropic and Banana Boat, claimed the 2 products were 'reef-friendly' - but the ACCC says they include ingredients that could damage coral and sea creatures. It's suing Edgewell in the Federal Court, but the company denies the claims and says it'll be fighting the case. Someone call Baz Luhrmann to clear this all up… 

The end of the line

It’s a sad week for trainspotters, with news that the British Royals’ private train will roll to a stop in 2027. It partly comes down to money… King Charles has been overhauling the Royals' budgets since ascending to the throne, wanting to modernise the monarchy and cut costs where possible. And given the royal locomotive has been running (with various updates…) for 156 years, it's increasingly expensive to maintain, so the King's signed off on its retirement. As you might imagine, it’s seen a thing or 2 over the years - and if you are a history lover, never fear; the search is on to find it a long-term home. But James Chalmers, the King's Treasurer (not to be confused with Jim Chalmers…) says "in moving forwards, we must not be bound by the past". Wise words to choo over...

Apropos of Nothing - Not in the playbook edition

It’s the end of a cricketing era… Test spinner Nathan “Garry” Lyon has handed the role of leading the post-match victory song, entitled Under the Southern Cross I Stand, to keeper Alex Carey - but don’t worry, the GOAT’s not retiring from playing, just singing…  

The first week of Wimbledon is already a record-breaking one, with France’s Giovanni Mpetshi Perricard thundering down the fastest serve in tournament history at a zippy 246km per hour. Even more remarkable, it was returned - and he lost the point… 

And a Cameroonian player has helped our young basketballers out in a game at the U19 World Cup in Switzerland - by dunking in the wrong basket. Amadou Seini's blunder helped the Aussies to victory in double overtime - not one for the highlight reel… 

Squiz the Day

9.15am (AEST) - Newly elected senators from May’s federal election will meet in Canberra for an orientation program known as ‘Senate school’ - Canberra

11.30am (AEST) - Fijian PM Sitiveni Rabuka will address the National Press Club on security and climate resilience in the Indo-Pacific - Canberra

5.30pm (AEST) - Illuminate Adelaide gets underway (until 20 July) - Adelaide  

7.45pm (AEST) - Rugby: The Queensland Reds will play the British and Irish Lions at Suncorp Stadium, watch on Stan Sport - Brisbane

ABS data release - Retail trade, May 2025; Building approvals, May 2025 

World Sports Journalists Day

🛸 World UFO Day 

Birthdays for comedian Larry David (1947), and actors Lindsay Lohan (1986) and Margot Robbie (1990)

Anniversary of:

• the deaths of Nostradamus (1566 - he should have seen that coming...), author Ernest Hemingway (1961) and James Stewart (1997)

• US President Lyndon Johnson signing the Civil Rights Act and Voting Rights Act into law (1964)

• the rescue of 12 boys and their coach from a cave in Thailand after being trapped for 9 days (2018)