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Australia news live: Angus Taylor dismisses Labor’s ‘half-arsed’ tweaks to CGT reform; boy, 12, dies in Cairns crash in suspected stolen car

Australia news live: Angus Taylor dismisses Labor’s ‘half-arsed’ tweaks to CGT reform; boy, 12, dies in Cairns crash in suspected stolen car

Angus Taylor dismisses Labor’s ‘half-arsed’ tweaks to CGT reform

Tom McIlroy

The opposition leader, Angus Taylor, has dismissed the government’s proposed carve outs from changes to capital gains tax, announced in the federal budget.

Under the proposed concessions, all of Australia’s 2.7m small businesses will receive exemptions from capital gains tax, with startups and testamentary trusts exempted from the tax reform proposals.

The announcement by Anthony Albanese and the treasurer, Jim Chalmers, on Thursday followed weeks of sustained criticism from industry groups and the opposition, who have labelled the move from a flat 50% CGT discount model to an inflation-linked approach as a “tax on growth”.

Taylor told Sky the government should scrap the budget reforms and go back to square one.

double quotation markThis is abject failure, and they are layering failure upon failure.

Now we see a half-arsed carve-up from this government that is an admission of failure. Well, why not just get rid of the whole thing, scrap it, and start again?

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Boy, 12, dead and three in hospital after Cairns crash in suspected stolen vehicle

Police in Cairns say a 12-year-old boy has died in a single-vehicle crash, allegedly involving a stolen car, early this morning.

In a brief statement, Queensland police confirmed the boy was declared dead at the crash site at Stratford, in the Cairns northern suburbs, where a grey Toyota Fortuner wagon left the road and rolled about 4.15am.

Police said the same vehicle had been reported stolen from an address in Mooroobool, Cairns, about 3am.

Police also said three other people – two men aged 20 and 22, and a 19-year-old woman – were taken to the Cairns hospital for treatment.

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