Limiting

Treasurer Jim Chalmers had indicated ‘transitional’ proposed changes as Labor attempts to repair a ‘structurally flawed’ budgetFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastOnly applying changes to the CGT discount and negative gearing rules to new investments would “severely delay” desperately needed reforms required to repair a “structurally flawed” budget and boost the economy, Deloitte says.The consulting firm estimated that a policy which cut the 50% capital gains tax discount to 33% and abolished negative gearing would only generate $500m over the first four years of operation if existing investments were not included – an approach known as “grandfathering”. Continue reading...

Not ‘reasonable’ to impose that Siena Hopper, 25, with no criminal history, should be excluded from City of Sydney except for work or to attend courtFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastA judge has overturned the bail conditions imposed by police on a Sydney anti-Herzog protester with no criminal history, saying the conditions were not “reasonable”.Lawyer Wael Skaf made an application before the Downing Centre local court to vary Siena Hopper’s bail conditions, which barred her from attending any “unlawful protests” and included a condition that she not enter the City of Sydney except for work or to attend court. Continue reading...

• OpenAI testified in support of an Illinois bill that shields AI labs from liability for products causing 'critical harm,' including potential mass deaths or catastrophic financial losses. • The legislation is part of a broader industry push amid ramped-up state and federal AI enforcement, such as Florida's probe into OpenAI for potential criminal harm. • Similar liability-limiting measures are under consideration in at least three other states, according to policy trackers monitoring AI legislation.