News and politics live updates: MP admits CGT change hurts businesses, PM stresses trust ‘consultation period’

Anthony Albanese has responded to reports that his government is considering a possible carve out for the changes to new discretionary testamentary trusts.

A concession could help Labor counter claims from opponents that the changes would be a “death tax” or “death duty” on Australians.

When asked about the speculation on Friday, the Prime Minister labelled claims Labor was trying to hit to inheritances as “misreporting” but added there would be consultation around trusts.

“Let’s be very clear. When it comes to some of the misreporting that’s there, we’re not interested,” he said.

“There’s no measures in there that are going to hurt inheritances.

“On trusts, there’ll be a consultation period about that, and we made that clear on Budget night.

“So, we’ll work through the legislation. We’ve said (it) will be introduced in the second half of the year.”

Prime Minister Anthony Albanese has said he will be meeting with the family of Warrant Officer Class Two Lachlan Muddle.

The 50-year-old died during a training exercise in Jervis Bay earlier this month.

“I’ll be joining some of his colleagues to express first hand my condolences. Of course, that will be a private occasion,” Mr Albanese said.

“The death of... Muddle is indeed a deep tragedy and the community, family will be mourning his passing in an untimely way.

“But also the family that is the Australian Defence Force, (is) mourning as well.”

Mr Albanese, who was near Jervis Bay for a bridge opening, added that the accident was a “stark reminder” of the risks faced by those in the ADF.

Angus Taylor has defended Jacinta Nampijinpa Price after she appeared on a right-wing podcast.

Senator Nampijinpa Price released a statement denying she agreed with comments the 2 Worlds Collide podcast host made that suggested immigrants are “flooding” Australia.

The Opposition leader backed Senator Nampijinpa Price and dismissed calls from Labor MPs Anne Aly and Julian Hill to fire her from his frontbench.

“She made it very clear, she agrees with the party position and my position, which is that we shouldn’t discriminate in immigration based on race or ethnicity or religion, but we should based on values,” Mr Taylor said.

“People who come to this country should share our core values, and we ask them to do that in the citizenship ceremony.”

The Greens say controversial tax changes in the budget are a “step in the right direction” but the minor party wants the government to go further before pledging to give their support.

The Greens’ vote is crucial to Labor’s hopes of getting legislation through the Senate, given the coalition has vowed to repeal the changes to investor tax breaks if elected.

While the government has faced significant blowback from small business owners and landlords over the changes to the capital gains tax discount and negative gearing, Greens economics spokesman Nick McKim said Labor hadn’t gone far enough.

“Faced with a once in a generation opportunity to shift more of the tax burden onto super wealthy people, and in particular super wealthy property speculators, Labor blinked,” he told ABC Radio on Friday.

Senator McKim said the Greens would fight the government on its decision to grandfather the tax changes for existing property investors, which had in effect “pulled up the drawbridge” in front of young people.

Opposition Leader Angus Taylor said the taxes were “toxic” and the government was scrambling for the exit.

- with AAP

Labor MP Andrew Charlton has conceded the new capital gains tax regime “doesn’t interact well” with small businesses that have a low capital base.

The comments made by the Assistant Science Minister on Nine’s Today show appear to validate the sector’s concerns about the reform.

Asked if the Budget “outcry” was “unwarranted”, Mr Charlton acknowledged the new system hurts underfunded businesses, as you need money to make money.

“The point that many start-up founders, the point that many small businesses have been making is valid,” he said.

“It’s a valid point because that new regime doesn’t interact well if you have a really low capital base because you’ve got nothing to inflate off.

“So, there are real concerns out there.”

It comes after the Prime Minister featured in a wave of AI memes that were posted online by small business owners mocking the government’s Capital Gains Tax changes outlined in the Budget.

Pauline Hanson has been caught on a hot mic making a rude remark about a journalist following a tense exchange at a press conference.

The One Nation leader muttered “I said you’re the nasty b....” after her staffer told a reporter to “shut up” as questions were being shut down.

The incident unfolded as Senator Hanson spoke to media on the sidelines of an oil and gas producers event in Adelaide.

During the press conference, she was questioned about her party’s stance on fracking, offshore drilling and upcoming Senate candidates before the interaction was abruptly cut short.

“We’re done, thank you. No, no, no. Shut up. We’re done,” adviser Richard Henderson said to a journalist as he moved to end the scrum.

“Did you just say shut up?” the reporter responded.

Footage shows Senator Hanson walking away with her team before briefly speaking with MP Barnaby Joyce, who told her she had done “very well”.

Moments later, she was heard making the off-the-cuff remark: “I said you’re the nasty b.....”

The comment drew laughter from Mr Henderson and Mr Joyce, before Senator Hanson added: “Do you want me to go back and I’ll tell her?”

She then proceeded to turn around and seemingly appeared like she was going to confront the journalist.

Angus Taylor has reiterated his stance that the governement should intervene in the return of a second group of ISIS brides.

The Opposition leader made the comment when asked if his positioning had changed following news that seven ISIS linked women and their 14 children were making their way to Australia.

It is believed the group, who have now left the Al Roj detainee camp in north-east Syria, contians all remaining Australians at the facility.

Mr Taylor said the government should do everything in its power to prevent their return.

“They [the group] turned their back on our country to support a terrorist organisation, one that has been guilty of extraordinary atrocities, including on Australians,” he said.

“So no, our perspective hasn’t changed.”

Eleven Australian acitivists who were aboard the Global Sumud Flotilla and detained by Israel have arrived in Türkiye.

The group were among hundreds of activists from countries around the world who were placed in detention after they were intercepted en route to Gaza.

Social Services Minister Tanya Plibersek confirmed the group of Australians are now in Instanbul.

“They are out of Israel now and in Türkiye,” Ms Plibersek told the ABC.

Ms Plibersek has not yet provided details on the condition of the group following their detention.

Israeli national security minister Itamar Ben-Gvir sparked backlash on Wednesday after posting a video showing the detainees with their hands tied and their foreheads to the grouond.

Speaking on Ben-Gvir, minister Plibersek said his behaviour was “shameful” and “disgraceful”.

Australia and Turkey have flagged they will put vehicle electrification in the fast lane at the 2026 United Nations climate summit, as the world grapples with the fallout from fuel shortages stemming from conflict in the Middle East.

Climate Change Minister Chris Bowen and his Turkish counterpart, Murat Kurum, co-hosted a ministerial meeting of 40 countries in Copenhagen on Wednesday and Thursday that will help shape the agenda of the COP31 conference in Antalya.

The annual Copenhagen talks are a pit stop on the way to the main summit and a chance to road test fresh ideas in an informal setting.

Mr Bowen and Mr Kurum nominated electrification as their big-ticket priority.

The transport sector accounts for 15 per cent of total greenhouse gas emissions, the UN says.

“Higher oil prices are putting pressure on all our citizens from Suva to Sydney to Stockholm,” Mr Bowen said.

The talks emphasised that the renewables rollout also helps shore up energy independence, as countries deal with the biggest oil shock in world history.

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Tanya Plibersek says she is not surprised the Coalition “weaponised” the changes outlined in the Budget in an attempt to “frighten” Australians.

The social services minister said when the government looks to make changes “political opponents will always try to weaponise” them.

“I think when most Australians take a bit of time to have a look at what we’re actually doing [they] will understand that we’re doing this for their kids and grandkids,” she told ABC News Breakfast.

“If we want young people in Australia today to have the same opportunities as their parents and grandparents had to buy a house and live in it and raise a family then we need to change what we’ve been doing in recent years.”