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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.


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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