From The Daily Os. I'm Lucy Tussel, I'm belief, it's Simon's. It's Monday, the thirteenth of October. Here's what's making headlines receiveing.
The government has announced it will seek to establish a forty percent tax rate for superannuation balances over ten million dollars held by about eight thousand Australians. The move is a new change to its proposed superannuation tax policy, which still needs to pass Parliament. The government had initially proposed for the new tax rates to apply to unrealized capital gains. However,
it will now only apply to realized earnings. Unrealized capital gains are where you are taxed for the value of a long term investment like a property, even if it isn't a real time earning like a salary. Other elements of the proposal remain unchanged, including taxing superbalances above three million dollars at a rate of thirty percent. The changes are set to come into effect in July next year,
if passed by Parliament. It comes after the government's initial draft of its superannuation legislation was criticized by industry experts.
Victoria Police has announced a restructure that we'll see a reduction of those on the executive team and thousands more police diverted to the front line to tackle or rise in crime. In a statement, the organization said it wants to quote free up police from administrative burden and give them more time on the streets where they can stop offending before it happens. It added that officers are currently required to spend too much time doing paperwork when they
should be quote back on the streets. Victoria's Chief Police Commissioner, Mike Bush, said, we have a crime problem here in Victoria. There is no escaping this fact. The levels of offending we are seeing in our community are entirely unacceptable.
US President Donald Trump has flown to Israel to address the country's parliament, to the Kanesset. As Hamas and Israel exchanged twenty living hostage and close to two thousand prisoners and detainees. Israel said that as soon as the hostages left Gaza, it would begin releasing the prisoners and detainees. The exchange is part of the first phase of the Trump led peace Plan, which has also seen Israeli troops retreat to an agreed line in Gaza as humanitarian aid enters.
Trump is also set to meet with the hostages families later tonight Australian time, before he becomes the fourth US president to address the Kannesse. The US, Israel's closest ally has been heavily involved in ceasefire and peace negotiations since October twenty twenty three, with Israeli Prime Minister Benjamin and Yahou nominating Trump for the twenty twenty six Nobel Peace Prize earlier this year.
And today's good news, Australia has continued its unbeaten run at the Women's Cricket World Cup. The Aussie women's cricket team beat India by three wickets in Visaka, Putnam, setting a new record for the highest successful run chase in women's one day cricket. Captain Elissa Heally recorded her first century as skipp art to help Australia over the line. The win continues a strong start to Australia's campaign for
an eighth World Cup title. The side has had victories over New Zealand and Pakistan, while the match against Sri Lanka was abandoned due to wet weather. Australia has three more group stage matches remaining Heely's side will take on Bangladesh on Thursday, before matches against England and South Africa next week.
That's the latest from the dally oz newsroom. If you're looking for something else to listen to, check out today's podcast on how one man allegedly started the La fires. It is so interesting.
We'll be back tomorrow morning with another deep dive where we're looking into the quantas Hak. Until then, have a great evening. My name is Lily Maddon and I'm a proud Aranda Bunjelung Kalkotin woman from gadigh Country. The Daily oz acknowledges that this podcast is recorded on the lands of the Gadighl people and pays respect to all Aboriginal and Torres Strait Island and nations. We pay our respects to the first peoples of these countries, both past and present.