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Good morning!
On my first day of covering for Billi, I’ve decided I’m going to try to woo you with some trivia. Consider it my best attempt at a riddle.
Question: There are six countries playing in this World Cup that start with C. Name as many as you can.
Answer is in the titbit!
I’ve got 10 seconds
The quote: “To treat the housing crisis as gender neutral is to actively ignore structural factors shaping housing outcomes, including the gender pay gap, lower retirement savings, caring responsibilities and the ongoing impacts of gender-based violence.”
Australians Investing In Women CEO Julie Reilly in a statement announcing the organisation had found that younger women with children are the fastest growing group of people experiencing homelessness.
The stat: 5.5 gigalitres. The amount of water data centres in Australia consume in a year, according to new research. This is more than four times the amount of drinking water in Melbourne.
The big question:
Would you rather fly 22 hours straight (in economy), or take a layover?
Yesterday’s results: 40% of you said you won’t get up to watch the next Socceroos game or watch it at all. 24% said you won’t get up, but you’ll watch the highlights, while 9% of you said you’ll watch the replay later. 27% of you said you’ll get up to watch the game at 5am - the TDA team will be setting their alarms with you! Thanks for voting - your responses inform TDA's journalism and research. [1,914 votes].
I’ve got 30 seconds
Some headlines from this morning:
Annual migration levels have fallen slightly, according to the Australian Bureau of Statistics. Figures released on Thursday show net overseas migration in 2025 meant Australia’s population grew by 301,000 people. Net migration is the result of subtracting the number of people who left Australia from the number of people who moved here. The timing of the data follows a debate surrounding migration levels, with the Coalition criticising the Government for underestimating the numbers and One Nation calling for a more dramatic cut to the rate. Treasurer Jim Chalmers said the migration rate had fallen by almost 50% from peaks experienced after the COVID pandemic.
Two children have died after a SUV hit them as they were crossing the road with their mother in Sydney’s south-west on Wednesday afternoon. The children have since been identified as one-year-old Harry and five-year-old Katherine. Paramedics treated the children at the scene and they were taken to hospital in critical condition, but police confirmed their deaths Wednesday evening. Their mother, 33-year-old Sok Ram, was treated for minor injuries. She told reporters on Thursday morning: “Everyone tried to save them… I love them more than my life”. The children’s father Vundy Tha told Nine News they forgive the driver and want others to drive carefully. A GoFundMe for the family has raised more than $100,000.
Together with AAP.
From the CommBank Newsroom
Government announces amendments to CGT changes
Capital gains tax (CGT) is back in the news again after the PM provided an update yesterday. But exactly what is CGT, where did it come from, what did the government announce in the 2026-27 federal budget and what update did it provide yesterday?
Transparency: This is a sponsored part of the newsletter - the best way to keep the newsletter free for you.
I’ve got 1 minute
The U.S. and Iran have signed a 14-point memorandum of understanding (MoU), marking the first formal agreement between the two countries since the conflict began.
The MoU includes plans to reopen the Strait of Hormuz and begins a 60-day negotiation process on issues including sanctions and Iran's nuclear program.
The agreement was signed ahead of implementation talks scheduled to take place in Switzerland on Friday between U.S, Iranian and regional representatives.
The MoU applies for the next 60 days, during which the U.S. and Iran have committed to negotiating a final agreement. The 60-day window can be extended if both sides agree.
Signing
The formal signing took place earlier than expected. On Wednesday (local time), Trump and Iranian President Masoud Pezeshkian signed the 14-point MoU remotely.
Trump signed a copy at the Palace of Versailles during the G7 summit before it was sent to Iran for Pezeshkian's signature.
Key parts of the agreement include:
Immediate and permanent end to the war, including in Lebanon.
The full reopening of the Strait of Hormuz within 30 days.
U.S. to lift sanctions on Iran.
Iranian commitment to never produce nuclear weapons.
Israel
Wednesday’s MoU commits Iran, the U.S. and their allies to ending hostilities across the region, including in Lebanon.
On Monday (Israel time), Prime Minister Benjamin Netanyahu said: “We have fended off an immediate threat of annihilation.”
Israel has not publicly endorsed the agreement. Reuters reported that senior Israeli officials have privately criticised the deal, with one describing it as “terrible for Israel”.
Reporting by Emily Donohoe.
Quick hits
🎧 On today’s TDA podcast, TDA journalists unpack the Australian activists' sexual assault allegations against IDF soldiers. Listen or watch on Apple here, Spotify here, or YouTube here.
🌞 You can sign up to TDA Good News here to make sure a wholesome wrap of all the good news from this week is in your inbox on Sunday morning.
Good finds
🚗 It's likely you're going to get an Uber this weekend - you may as well get some of it back. Open your first CommBank Everyday Account and get up to $40 cashback across Amazon, Chemist Warehouse, Uber Eats and Uber Rides. Learn more here.
Disclaimer: Open your first CommBank Everyday account by 30 June 2026. Eligibility criteria & offer T&C’s apply. $10 min spend for $10 cashback per merchant for up to $40 cashback in total. Consider if appropriate for you. TMD on the CBA website. Transparency: This is a sponsored part of the newsletter - the best way to keep the newsletter free for you.
I’ve got 2 minutes
The Government has announced that more small businesses will be able to access a 50% capital gains tax (CGT) discount.
Treasurer Jim Chalmers said the move means 98% of all active businesses will now be eligible for CGT concessions.
The Government also proposed a new tax concession for startup investors, and exempted certain trusts from a 30% minimum tax.
What is CGT?
CGT applies to the profit from the sale of an investment, including property andshares in a company.
Since 1999, if you held an investment for more than 12 months, you only paid tax on half the profit when you sold it.
This year’s federal budget announced that, from July 2027, the flat 50% discount is gone. Instead, your original purchase price will be adjusted to account for inflation. You’ll only pay tax on the gain above that inflation-adjusted figure. No matter what, you’ll always pay a minimum tax rate of 30%.
For example, under the new rules, if you bought shares for $100,000 and inflation over time pushed that value to $120,000, you’d only pay tax on gains above $120,000.
The Government introduced a bill including this change to Parliament on 28 May. It said it would consult separately with small businesses and startups before legislating further changes.
Backlash
Business groups, founders and accounting bodies pushed back following the announcement.
Accounting body CPA’s tax lead Jenny Wong said it was wrong to introduce major tax changes “before properly engaging with affected stakeholders.”
Startup founders launched an open letter to the Government, warning the changes would make Australia less attractive for building companies and attracting investment.
Small businesses
On Thursday, Prime Minister Anthony Albanese and Chalmers announced a series of changes to how the CGT reforms will apply to small businesses.
Businesses earning up to $10 million a year will now be eligible for a 50% CGT discount when selling business assets. Previously, only businesses earning under $2 million a year qualified.
Chalmers said all 2.7 million active small businesses will now have access to “generous” CGT concessions.
Startups
A consultation paper proposes a new 50% CGT discount for early-stage investors. That includes founders and employees who are given access to shares in “innovative” startup businesses.
Chalmers said the change was about backing Australian startups and providing “ a bit more clarity and confidence to investors”.
Trusts
After the budget, the Government faced criticism over the treatment of testamentary trusts: funds set up through a person’s will to distribute their estate to family.
The Opposition labelled the policy a “death tax” and called for the trusts to be exempt. The Government has now confirmed the exemption.
Income from all types of testamentary trusts will be exempt from the 30% minimum tax, where established for genuine inheritance purposes.
Albanese clarified there is “no tax on inheritances or deceased estates”.
What’s next?
The Government will try to amend its bill currently before the Senate to implement the small business threshold change.
The startup concession and trust exemption require further consultation and will be introduced in later bills.
Labor has a majority in the lower house, so the bill will pass there. It will need the Greens, the Opposition, or crossbenchers to pass the Senate.
Reporting by Elliot Lawry.
A message from Dry July
Take a break from alcohol and make a difference while you're at it.
Dry July® is a nationwide fundraiser that encourages people to go alcohol-free for the month of July in support of people affected by cancer.
The funds raised help provide practical support and care, from transport to treatment and accommodation near hospitals, to wellness programs and information services.
Sign up solo, with friends, or as a workplace team, and see how one month can make a real impact (not just on your sleep!)
Give me some good news
New research shows 166,000 square kilometres worth of coral reefs across the world will be able to recover from the impacts of climate change.
Scientists analysed the results of 45,000 coral surveys, alongside existing data, to identify whether some coral reefs would be able to survive damage caused by humans. They found reefs located in 71 countries and 100 territories can adapt to the damage created from climate impacts and continue to survive. The Wildlife Conservation Society’s Director of Coral Conservation Emily Darling said: “Coral reefs are often framed as ecosystems beyond saving… This research shows otherwise: we know where the hope is and what we need now is [the] will.”
TDA titbit
Like mother, like son!
Until Monday, no mother and son had both played for their country at a World Cup.
New Zealand defender Tyler Bindon changed that when he came off the bench against Iran, 15 years after his mother, Jenny Bindon, represented the Football Ferns at the 2011 Women's World Cup.
Trivia answer:
Canada, Cape Verde, Colombia, Croatia, Curaçao, and Czechia
TDA asks
