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Happy Wednesday!
Here is today’s trivia question: How many teeth does an adult human usually have?
Answer is in the titbit!
I’ve got 10 seconds
The quote: "These young people are certainly the future of Croatia in every sense." Croatian military leader Tihomir Kundid at an event re-starting mandatory military service in the European country. Croatia stopped conscription in 2008 but has recently re-started as Russia's war in Ukraine enters its fifth year.
The stat: 23. The number of people rescued after an ice sheet broke away from shore and drifted into Georgian Bay in Ontario, Canada, prompting a helicopter rescue by the Ontario Provincial Police.
The big question:
Yesterday’s results: 55% of you never attend the ballet or the opera. [3,505 votes].
I’ve got 30 seconds
Some headlines from this morning:
David Littleproud has announced he is quitting as Nationals leader of the party, but will still remain in Parliament. In a press conference on Tuesday afternoon, Littleproud said: “I’m buggered and I’ve had enough… I think someone better can do it because I don’t have the energy.” Littleproud said the timing felt right in the wake of Angus Taylor becoming leader of the Liberal Party, which is the Nationals’ partner in the Coalition. Of Taylor, Littleproud said: ”The values and principles that [he] has brought back to the Coalition gives me confidence that the Coalition's on the right track.”
Kyle Sandilands says he did not breach his contract after ARN announced the end of his long-running breakfast radio show with co-host Jackie O Henderson last week. In a statement yesterday, Sandilands said: “ARN terminated Jackie’s contract on the same day it accused me of a breach. It suspended me from work… The idea that our partnership could end like this is devastating to me... We never needed lawyers or ASX announcements to sort things out.” ARN has accused Sandilands of “serious misconduct”, which he denies. He has called on the broadcaster to “do the right thing” and honour his agreement. In an ASX statement last week, ARN said Henderson told the network she could no longer work with Sandilands after an on-air disagreement. Henderson has since released her own statement denying that she quit the show.
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I’ve got 1 minute
Prime Minister Anthony Albanese has announced Australia will send military assets to the Middle East in response to a formal request from the United Arab Emirates (UAE).
In response to U.S. and Israeli strikes, Iran has launched waves of missile and drone attacks across the region.
Here’s what you need to know about Australia’s involvement.
Context
The U.S. and Israel launched strikes on Iran on 28 February (AEDT), killing the country’s Supreme Leader.
Since then, Iran has been firing missiles and drones across the Middle East, hitting 12 countries.
The UAE says it has shot down more than 1,500 rockets and drones, with an Iranian strike hitting Dubai Airport on 1 March.
Australia has around 115,000 citizens in the Middle East, with roughly 24,000 of them in the UAE.
Albanese said the decision to send military supplies followed a direct conversation with UAE President Mohammed bin Zayed, who asked for support.
“The first priority of my government is and always will be to keep Australians safe,” Albanese said.
“Helping Australians means also helping the UAE and other Gulf nations to defend themselves against what are unprovoked attacks.”
Military assets
Australia has sent an E-7A Wedgetail plane to the UAE, departing on Tuesday.
The plane will be operated by Australian Defence Force (ADF) personnel. It is expected to be up and running in the region by the end of the week, for an initial four-week deployment.
The ADF says it can cover an area the size of Western Australia on a standard mission. It can track airborne and maritime targets at the same time.
Defence Minister Richard Marles described it as “one of the leading capabilities in the world in terms of airborne long range reconnaissance and command.”
Australia previously deployed the same aircraft to Poland to monitor Russian activity near Ukraine.
The Government is also providing “advanced medium range air-to-air missiles” to the UAE. On the missiles, Marles said: “These are defensive weapons and I want to make that clear.”
Actions
Despite sending supplies, Albanese said Australia was “not taking offensive action against Iran,” and will not send Australian troops to fight “on the ground in Iran.”
Last week, Albanese confirmed three Australian Navy personnel were aboard a U.S. submarine that torpedoed and sank an Iranian warship off Sri Lanka, killing 87 sailors.
He said those personnel were there under AUKUS training arrangements and took no offensive action.
Reporting by Elliot Lawry.
Quick hits
🎧 On today’s TDA podcast, Emma unpacks the humanitarians visas granted to the Iranian footballers.
🏀 Sport news is for everyone. Sign up to TDA Sport here for a daily drop in your inbox.
Drops of wisdom
💧Waiting until the washing machine’s actually full? Worth it. Running full loads can save around 867 litres of water a month – that’s more than 10,000 litres a year from one simple switch.
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Good finds
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I’ve got 2 minutes
The Federal Government’s bill to increase taxes on superannuation balances above $3 million is expected to pass Parliament this week.
The Greens have confirmed they will support the bill in the Senate, meaning it will pass.
The bill also increases support for low-income workers through changes to a superannuation tax offset.
Here’s what you need to know.
Super
If you’re an adult working in Australia, your employer must contribute to your superannuation for your retirement.
You can also make voluntary payments into your account. In most cases, you can’t access super until you’re at least 60.
Super funds invest your contributions in areas such as shares and property. Your balance changes in value based on how those investments perform.
Super balances are taxed differently to income. Currently, super investments are taxed up to 15% as they build up (while you are a working adult). This is known as the “accumulation” phase.
There are various tax concessions on super contributions and gains during the accumulation phase, which means not every dollar is taxed at 15%.
The main thing to note is that the super tax rate is never more than 15%, which is lower than all current income tax brackets.
Reform
Labor proposed reforms in 2023 to increase taxes on super balances that exceed $3 million from 15 to 30%. It put a bill before Parliament before the last election, which did not proceed.
The Government says super balances of $3 million to $10 million are “well above” what most people need for retirement.
At this level, it argues, they are being used for wealth accumulation and estate planning, not retirement.
In February, Treasurer Jim Chalmers introduced a revised version of the bill.
Changes
There are two main changes to the super system under the new bill. From 1 July 2026, people with a total super balance above $3 million will pay up to 30% in tax on the portion of their balance above the $3 million threshold.
If a person has a balance of more than $10 million, they will pay up to 10% more tax on earnings above that threshold.
The $3 million and $10 million thresholds will be indexed to inflation each year.
This means the threshold won’t stay frozen at $3 million forever – it will rise gradually over time, keeping pace with the consumer price index (rate of inflation).
The Treasury estimates around 90,000 people (less than 0.5% of Australians with super) will be affected in the first year.
The second change will increase the number of people eligible for the Low Income Superannuation Tax Offset (LISTO).
This is a Government payment made directly into the super accounts of low-income workers. It’s intended to make sure they don’t end up paying more tax on their super contributions than they would if the money had been paid to them directly.
From 1 July 2027, the income threshold to receive LISTO rises from $37,000 to $45,000, and the maximum payment increases from $500 to $810. Around 60% of total beneficiaries when the new threshold kicks in will be women.
One aspect of the original bill which has been discarded was a tax on ‘unrealised gains’.
This is where you are taxed for the value of a long-term investment (e.g. a property) even if it isn’t a real-time earning (e.g. a salary).
Since superannuation can invest in property, people could be taxed for a hypothetical value increase, rather than a tangible sum of money.
The new version only taxes actual earnings.
Senate
In the Senate, Labor holds 29 of 76 seats and needs 39 to pass legislation.
On Tuesday, the Greens announced they will back the bill unamended, allowing it to pass.
Senator Nick McKim called the bill “a downpayment on genuine, progressive tax reform,” and said the Greens want bigger changes in the upcoming Budget.
Reporting by Elliot Lawry.
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So if you’ve been thinking about a bold hair change, this might be the perfect reason.
Give me some good news
And today’s good news: UK researchers have discovered what may be the world’s oldest known ‘white-out’ style correction fluid on an ancient Egyptian artwork.
A team at Cambridge University’s FitzWilliam Museum were preparing a 3,000-year-old papyrus for display at an upcoming exhibition when they noticed a thick white pigment on a painting featuring a jackal-headed god. Infrared imaging confirmed the white paint partially covers original black brushwork beneath, clear evidence of a deliberate edit made thousands of years ago. Helen Strudwick, senior Egyptologist at the FitzWilliam said: “It's as if someone saw the original way the jackal was painted and said 'It's too fat - make it thinner', so the artist has made a kind of ancient Egyptian [white-out] to fix it.”
Reporting by Emma Gillespie.
TDA titbit
A match in Brazil’s top football league produced 23 red cards.
For context, most major leagues average one red card every four to five matches across a full season.
The red cards were the result of a fight between teams Cruzeiro and Atletico Mineiro, sparked when Cruzeiro midfielder Christian challenged Atletico goalkeeper Everson, who tackled him.
The rugby-style hit sparked a full team brawl that pulled in coaches, security and eventually the military police.
Reporting by Pavitra Ravi.
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Riddle answer: 32.
TDA asks
