If you were forwarded this email (hi! welcome!), you can sign up to the newsletter here.
Good morning.
Earlier this week, we asked the TDA audience about their attitudes towards today’s public holiday.
Over 15,000 people responded, with the majority (75%) in favour of changing the date of the public holiday. A fifth (20%) of respondents said their workplaces had given them the choice to take the public holiday on another day, while 75% said they should be allowed to choose whether they work today or not.
A quick note on our results: TDA's results line up with the fact that our audience is disproportionately young, with 71% of readers below the age of 35. It may also reflect the fact that people with strong opinions on January 26 were more likely to fill out the survey. Surveys by other companies have found differing results. For example, a recent Roy Morgan poll found that 59% of respondents think the date of the public holiday should remain the same.
We’ve got more on the day in today’s podcast.
Quote of the day
"My integrity is not looking at low and middle-income earners and saying, 'Sorry, I'm just Prime Minister, I am not in a position to help you' when I know that I am in a position to help you." - Prime Minister Anthony Albanese’s response to a question about his integrity, after announcing the Government will amend the Stage 3 tax cuts he had said would not change.
Stat of the day
40%
The percentage that reports of children being cyberbullied increased last year, compared to 2022, according to the eSafety Commissioner.
Today in history
2020
U.S. basketball star Kobe Bryant, his daughter Gianna, and seven others were killed in a helicopter crash in California.
Some headlines from this morning:
The Australian Competition and Consumer Commission will lead a 12 month inquiry into supermarket prices. It follows mounting pressure from state and federal politicians to investigate Coles and Woolworths over concerns about price gouging and billion dollar profits during the cost of living crisis’. Both the Queensland Government and the federal Senate have announced their own inquiries into supermarket prices.
NATO (North Atlantic Treaty Organisation) has launched its biggest military drill since the Cold War, with 90,000 troops from dozens of member countries beginning months of exercises in the U.S. In a press release, NATO said the operation will “demonstrate [its] ability to deploy forces rapidly from North America… to reinforce the defence of Europe.” NATO’s treaty requires all members to come to each others’ defence if one of them is attacked by a non-member.
Surf Life Saving Australia (SLSA) is urging swimmers to stay alert this long weekend after four fatal drownings at an unpatrolled beach in Victoria.
SLSA says the combination of a long weekend, school holidays, and the summer will make drownings four times more likely during the Australia Day long weekend.
It urged those planning to swim this weekend to follow safety practices like staying between the red and yellow flags.
Drowning deaths
There have been 67 drowning deaths recorded across Australia this summer, up from 57 deaths this time last year.
Men are more likely to drown, according to SLSA data. Beaches are the most common setting for fatal drowning events, followed by rivers and creeks.
Drowning deaths are believed to have increased in recent years as a result of limited swimming lesson access during the pandemic, when an estimated 10 million classes were cancelled.
Victoria drowning
A man in his 40s and two women in their 20s fatally drowned at an unpatrolled beach on Victoria’s Phillip Island on Wednesday.
Another woman was pulled from the water and taken to hospital in a critical condition, where she later died.
CPR was performed on all four people. A police report is now being prepared.
Safety advice
SLSA urges beachgoers to swim between the flags and advises against swimming in locations where no lifeguard is on duty.
Wearing a lifejacket when boating, paddling, or rock fishing has also been recommended, in addition to being vigilant of weather forecasts and dangerous currents.
The Prime Minister has formally announced changes to the planned ‘Stage 3’ tax cuts after Labor MPs met in Canberra this week.
Under the proposal, those earning below $45,000 will be included in tax cuts that previously only applied to higher-income earners. However, incomes above $135,000 won’t get the reduced tax rate promised under Stage 3.
The Opposition has accused the Prime Minister of lying about his commitment to implement the cuts.
The context
Australia has a “progressive” tax system, which means the more you earn, the more tax you pay. You don’t pay tax for the first $18,200 earned in a year.
Every dollar earned above that is taxed.
This week, the Government has announced changes to planned tax cuts. The changes mostly impact Australians who earn $45,000 or less, and those who earn above $135,000.
Stage 3
A three-stage tax plan to change income was first introduced under the former Coalition government. Labor, then in Opposition, voted for the measure in 2019.
Stages 1 and 2 have already been implemented. Under the plan’s third stage, incomes between $45,000 and $200,000 would have been taxed at the same rate of 30%.
The Stage 3 tax cuts would not have reduced taxes for anyone earning below $45,000.
New tax rates
The new tax rate will mean that anyone earning above $135,000 will be taxed at 37%, instead of the 30% originally slated under the Stage 3 model.
Anyone earning under $45,000 will pay 3% less tax on every dollar earned in a year. For example, a person who earns $40,000 will pay $654 less tax under the changes. Under Stage 3, they would not have benefited from any tax relief.
A person earning $150,000 will pay $3,729 less tax in a year. While their taxes will still go down, the changes mean they will be $246 short of a $3,975 tax cut promised under Stage 3.
Labor meeting
Labor MPs and Senators returned to Canberra earlier this week – two weeks before they were due back to Parliament – where they agreed to changes to the tax cuts.
During a speech in Canberra today, the PM said the changes will affect “all 13.6 million taxpayers, not just some”.
Why?
The Government has been under pressure to change Stage 3 tax cuts to minimise worsening inflation (rising prices), due to Australians having more money to spend on everyday items.
The measures were also expected to cost the Government roughly $21 billion in the first year.
Australia’s peak social welfare body, ACOSS, had also urged the Government to scrap the cuts for high income earners and fund cost of living relief instead.
Opposition
Deputy Opposition Leader Sussan Ley told media yesterday the PM “lied to the Australian people”.
Albanese had promised the tax cuts in the lead up to the 2022 election, where Labor defeated the Coalition.
“The Prime Minister's election win was built on a lie. Labor won this election on a lie,” said Ley.
She added the Coalition would introduce the originally planned Stage 3 cuts if it wins the next election.
Next steps
The changes to the cuts will need to go through Parliament before being implemented. Labor will need the support of minor parties and independents in the Senate.
It’s unclear if the Greens will support the new measures. The party has suggested funding public services as a better way to address cost of living pressures than tax cuts.
Greens Senator Mehreen Faruqi said yesterday: “Scott Morrison is gone, and Labor should ensure his tax cuts for the wealthiest Australians go with him.”
We all know life is that little bit sweeter when there’s a holiday on the horizon, and our friends over at Travel Insurance Direct (TID) couldn't agree more. There's nothing quite like the feeling of exploring new cities, embracing new cuisines, and the satisfaction of mastering a new phrase or two.
But let's face it, sometimes while travelling things don't go exactly as planned - that's where TID comes in. With their expertise, cover and top-notch service, they can help you stay on track on your travels. TID takes care of the important stuff, so you can focus on the fun.
To sweeten the deal, they're offering a 12%* discount on travel insurance to TDA readers with the promo code TDA12 (until March 3, 2024). Save the code and share it with your mates so they have cover too! *T&Cs apply.
Take the stress out of your next adventure. Get a quote today!
It’s Australia’s national day today and a public holiday across the states and territories. But one in 10 TDA readers told us they don’t know why Australia Day happens on January 26. In today’s deep dive, TDA fact checker Lucy joins Sam to explain today’s history of celebration and protest.
If you want your friends to wake up with us too, refer them!
We’ll even sweeten the deal for you…
{{rp_personalized_text}}
Or send them your unique link: {{rp_refer_url}}
In a world first, German scientists used IVF to successfully impregnate a white rhino, giving researchers hope that endangered rhino populations could be saved.
The pregnant southern white rhino is one of two subspecies of the white rhinoceros.
The team will now attempt to replicate the procedure on the northern white rhino, of which there are only two remaining in the entire species.
An ongoing legal battle between two restaurants has made its way to an Indian court to answer a question for the ages: Who invented butter chicken?
The owners of restaurant chain Moti Mahal are suing rival chain Daryaganj, with hundreds of thousands of dollars in damages on the line.
In a 2,700-page document submitted to Delhi’s High Court, the owners of Moti Mahal argue their founder Kundan Lal Gujral invented butter chicken in Pakistan in the 1930s.
Daryaganj’s owners are arguing they have a legitimate claim to butter chicken’s origin story because one of their family members worked with Gujral to develop the recipe.
The case has captured India’s attention. But maybe the outcome is… naan of their business 😉
