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ASX down, super wars and 5 other things to start your day

A composite image of tthe ASX board showing company price changes and Treasurer Jim Chalmers.
The ASX is expected to drop today as the super wars ramp up. (Source: Getty)

ASX: The local share market is expected to fall at the open despite a reasonably positive session on Wall Street overnight.

Super-charged: The claws are out and the politicians are doing what they do best - argue. The Albanese government has been accused of breaking an election promise and shifting the goalposts on superannuation.

Starting from 2025/26, the concessional tax rate applied to future earnings for balances above $3 million will be lifted from 15 per cent to 30 per cent - impacting about 80,000 Australians. The 15 per cent rate will still apply to balances under $3 million.

Home prices: While the Aussie property market is still seeing prices fall, the rate of decline has pulled back sharply.

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The new CoreLogic report found that consistently low numbers of new homes being listed for sale and rising auction clearance rates were insulating home prices.

Going strong: Australia's economic growth likely ended the year strong despite mounting challenges facing growth prospects.

The Australian Bureau of Statistics will release the December-quarter national accounts today, with the economy expected to have expanded by 0.7 per cent over the quarter and 2.7 per cent over the year.

‘Act now’: Federal and state governments have been urged to up their game or miss out on the lucrative opportunity to lead the world in mining, refining and making clean-energy products.

A report released today by independent think tank Climate Energy Finance identified the "once in a century" opportunity to refine and process critical minerals and manufacture onshore, powered by renewable energy.

Under attack: Companies suffering financial losses because of phishing attacks have increased by more than half during the past year, a new report found.

Analysis by cyber security firm Proofpoint revealed 48 per cent of companies that were subject to phishing attacks had lost money, a 60 per cent increase compared with 2021.

One less car: Fifty Aussie drivers will be challenged to give up their cars for a month and replace driving with ride-share trips, rental cars, e-bikes and scooter rides as part of a social experiment.

Uber unveiled its One Less Car trial today, revealing it would work with behavioural researchers as well as micro-mobility firms to test whether it was possible and cheaper to replace car ownership with services. Each participant will receive $1,300 in transport "credits" to fund new travel methods.

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