Andrew Bogut

Here are some of the craziest details from Labor's 2026 Federal Budget: - $124M for powerful Jewish lobby group the Executive Council of Australian Jewry (which is behind Australia's new "hate speech" laws) - $207.4M to "combat the influences of anti-Semitism, violent extremism and hate" - $46.7M in financial support for the Jewish community - $41M for various education department anti-Semitism initiatives - $9M for a hate crimes database - $68.8M for National Security Investigations teams (hate speech and social media post police) - $32.6M on social cohesion public awareness campaigns - $793M for "Closing the Gap" policies for aboriginals - $36.6M to help aboriginals to vote - $48.3M for aboriginal hostels - $4.2M for a new National Aboriginal and Torres Strait Islander Cultural Precinct - $6.8M for aboriginals to "own, access and manage water" - $308.6M to "end gender-based violence" - $50.4M to continue investigating alleged Afghanistan war crimes - $6.6M to give missiles to the UAE - $64.6M to recruit Papua New Guineans into the Australian Defence Force - $16.6M to investigate sexual violence in the ADF - $24.7M to recycle solar panels - $112.7M for gambling addicts - $25.3M on the India-Australia Comprehensive Strategic Partnership, mainly for a grants and fellowships program - $167.3M for Nauru - $550M to "support high‑quality, climate‑resilient infrastructure in the Pacific and Timor‑Leste" - $33.2M for Indonesia - $68.5M for HIV treatment for immigrants who are not eligible for Medicare - $449.3M for RSV vaccines - $10.8M to "provide community‑led health literacy education to refugee and migrant women" - $7.7M to boost refugee employment - $74.2M to fight abuse of the refugee visa system - $27M to make migrant workers follow the law - $19.8M to fight abuse of the student visa system

The single biggest winner from the budget: the tax-free owner-occupied home, which is where people will put their money. After the budget doubles the capital gains tax on productive businesses/assets from circa 23.5% to 46-47%, investors will understandably pull money from businesses, shares, commercial property and rental housing and plough it into their tax-free owner-occupied home. It's a great way to push up the prices of these houses. On the other hand, cutting negative gearing while also doubling CGT makes investing in rental properties extremely unattractive. It hammers the capital gain upside on any asset: shares, commercial property, the small or medium sized business you built, venture capital and private equity. It will give Australia the most unattractive capital gains tax in the WORLD (see table below)! So the government's policies will (1) push up owner-occupied house prices, (2) push up rents, and (3) reduce the capital available for investing in any small, medium or large sized business that is driving employment, innovation, growth and productivity/prosperity. Investors will go to other countries where they pay half the capital gains tax, or less. Since these pollies have never worked a day of their lives in the private sector, it is no surprise that when they decide to completely and unilaterally rewrite the entire tax system for all investors and businesses -- after promising before the last election more than 50 times NOT to change the capital gains tax and negative gearing rules -- that they would blow the entire Aussie economy up... Your best bet will be to buy a house, live in it, and hope they keep dropping 500,000 new people into the country every year to pump-up prices...

NEW: Over $50,000 has been raised for a Domino’s delivery driver who went out of his way to get his customer's Diet Coke when he realized that Domino's was out. 68-year-old Dan Simpson of Boise, Idaho has gone viral for his kind act. "[Dan] had stopped at the store himself to pick up Diet Coke for us. On a busy Friday night. During deliveries. Completely out of his own time and effort," the customers said on GoFundMe. "[Dan's] been working at Domino’s as a second job for 14 years… and he’s retiring in just a few weeks..." About $50,000 has been raised for Dan so far. Amazing. Video: katey_93 / tt.

Today I’m very excited to announce a global partnership between 8090 and EY. EY will adopt 8090’s Software Factory and use it to help their customers break free from slow, costly and failure-prone legacy enterprise software using our AI-native software factory that reimagines the software development lifecycle. EY is a massive global organization with more than 400,000 employees and tens of thousands of customers in every sector of the global economy. 8090’s Software Factory is the new way organizations can move to a focus on building software that is powerfully bespoke, hi quality, easy to maintain, easy to migrate and always consistent and up to date. No drift, no cruft, no waste. Companies that build with Software Factory grow faster, are more profitable and are more adaptable in moments of change like we are witnessing today. Let’s rewrite all the enterprise software in the world. EY and 8090 will work together to do its part.