Received
- Details
- Written by Grant Broadcasters
- Category: Received
- Hits: 131
Plans to bring forward tax cuts for middle and high income earners to this year's 2022/23 federal budget could reportedly be shelved.
Treasurer Josh Frydenberg is now unlikely to accelerate the relief by two years and flatten the tax rate for those earning between $45,000 to $200,000 to 30 per cent, The Australian reported on Wednesday.
Citing an unnamed senior government source, the news outlet said Mr Frydenberg plans instead to focus on cost of living pressures, such as rising petrol prices.
Federal Labor has previously committed to backing the so-called stage three tax cuts, which would cost about $17 billion a year, originally due in 2024/25.
Mr Frydenberg is also reportedly considering extending the low and middle income tax offset, which gives an eligible taxpayer an offset of up to $1,080, for another 12 months.
Meanwhile, Australia's critical mineral sector will be bolstered in the upcoming federal budget with more than $200 million for manufacturing projects.
The government has announced $243 million will be spent across four projects in the sector.
Critical minerals, such as nickel, magnesium and other rare-earth elements, are heavily used in the manufacture of technology such as mobile phones, electric cars and solar panels.
Nearly half of the funding, $119.6 million, will go towards an integrated nickel manganese cobalt battery material refinery hub in Kalgoorlie.
Meanwhile, $49 million will be spent on processing high-grade vanadium from a Western Australian mine and transporting it to a plant powered by clean hydrogen.
There will be $30 million set aside for a rare-earth separation plant in the Northern Territory, the second of its type outside China and the first in Australia.
The fourth package will be $45 million to help construct a high-purity alumina production facility near Gladstone in Queensland to help meet rising demand for lithium-ion batteries and LED lights.
It is expected the four projects will help create more than 3400 jobs.
Prime Minister Scott Morrison said the new initiatives were critical to expanding the critical minerals sector in Australia.
"These projects are about manufacturing the products and materials Australians need, and the world needs, by making them right here at home," Mr Morrison said.
"We're helping grow the local critical minerals processing and clean energy industries and locking in the future of those industries by backing manufacturing projects in Australia."
The critical minerals projects will form part of the federal government's $1.3 billion modern manufacturing initiative.
Industry Minister Angus Taylor said the projects would mean Australia would capture more of the global supply chain.
He said the initiatives would help address the dominance of China in the area, which is currently responsible for between 70 and 80 per cent of critical mineral production.
"Australia is lucky to have some of the largest reserves of the critical minerals and metals which drive the modern global economy ... this initiative is designed to address (China's) dominance," he said.
"These projects are not only game changers for the local region with the creation of new jobs - they will also open up incredible export opportunities."
© AAP 2022
- Details
- Written by Grant Broadcasters
- Category: Received
- Hits: 145
Cameron Smith is being hailed for his "unworldly" brilliance after scoring the biggest win of his career, taking out The Players Championship in Florida in extraordinary, record-setting fashion.
Smith carded a birdie-filled and dramatic six-under-par 66 to record a steely one-shot victory at TPC Sawgrass and join a who's who of golf greats on the honour roll.
He finished at 13 under for the tournament, with plucky surprise third-round leader Anirban Lahiri settling for outright second after closing with a 69.
Englishman Paul Casey (69) was third at 11 under, with American Kevin Kisner (68) a further shot back in fourth and Keegan Bradley (68) rounding out the top five at nine under.
Apart from the prestige of winning the PGA Tour's flagship event and the game's unofficial fifth major, Smith pocketed the richest winner's cheque for a PGA Tour event of $US3.6 million ($A5 million) and will rocket to second in the season-long FedExCup standings.
Described by awestruck US commentators as "unworldly", Smith's rollercoaster round in the tour's wild Monday finish after a weather-marred week featured an unprecedented 10 birdies on the Stadium Course, including five in the first six holes.
But the victory wasn't without endless tension, with Smith finding the water on the 18th hole and needing a scrambling up-and-down bogey to fend off Lahiri.
Fittingly, he delivered to complete the best putting display in the tournament's 49-year history.
Smith's 101 putts for the 72 holes was the fewest by any winner in almost half a century.
The 28-year-old joins fellow Australians Steve Elkington (1991 and 1997), Greg Norman (1994), Adam Scott (2004) and Jason Day (2016) on the famous honour board.
Other champions include major-winning legends Jack Nicklaus, Lee Trevino, Tiger Woods and Phil Mickelson.
"It's huge. It's gonna take a while to sink in," Smith said.
"Obviously lots of Australians have won here - lots of great Australian golfers - but the best that have ever lived have won here, as well.
"So it's pretty cool to have the name on the same trophy as them."
The Queenslander choked up after describing the emotion of winning in front of his mother and sister, who were visiting Smith, who lives nearby at Jacksonville Beach.
"I haven't seen them in two years so it's really cool to have them here," he said.
"My main priority really was to hang out with them and golf was second these few weeks so it's nice to see them and get the win for them."
Smith's latest triumph follows his victory at the Tournament of Champions in Hawaii in January, when he won with a record score of 34 under par.
He will rise to world No.6 ahead of next month's Masters, the year's first major at Augusta National.
To put his mega winner's cheque in perspective, Smith's victory spoils topped Trevino's entire career earnings.
But Smith couldn't put a price on his fifth PGA Tour win, especially after enduring such a nerve-wracking final round.
Resuming his third round on the 11th hole after five days of ferocious wind and rain, Smith birdied the island green par-3 17th to pull within two shots of Lahiri entering the final round.
With birdies at the first four holes, then another on the sixth, Smith was suddenly two strokes in front.
But he made three consecutive bogeys to fall back as Lahiri, Casey and Bradley - who picked up an incredible 13 shots in 24 holes on Monday - also hit the lead at different stages.
Smith appeared to be running away with the trophy with a string of four birdies to start his back nine and then recovering from a duck-hook tee shot on the 16th to make a miraculous par.
But after draining his 10th birdie on the signature 17th hole, Smith had to dig deep one final time at the last.
© AAP 2022
- Details
- Written by Grant Broadcasters
- Category: Received
- Hits: 146
Australian golf star Cameron Smith has scored the biggest win of his career, taking out The Players Championship in Florida in extraordinary, record-setting fashion.
Smith carded a birdie-filled and dramatic six-under-par 66 to record a steely one-shot victory at TPC Sawgrass and join a who's who of golf greats on the honour roll.
Apart from the prestige of winning the PGA Tour's flagship event and the game's unofficial fifth major, the 28-year-old pocketed a cheque for $3.6 million ($A5 million) and will rocket to second in the season-long FedExCup standings.
Smith's rollercoaster round in the tour's wild Monday finish after a weather-marred week featured an unprecedented 10 birdies, including five in the first six holes.
But the victory wasn't without tension and drama, with Smith finding the water on the last hole and needing a scrambling up-and-down bogey to fend off surprise third-round leader Anirban Lahiri.
Fittingly, he delivered to complete the best putting round in the tournament's 49-year history.
Smith's 101 putts for the 72 holes was the fewest by any winner in almost half a century.
He joins fellow Australians Steve Elkington (1991 and 1997), Greg Norman (1994), Adam Scott (2004) and Jason Day (2016) on the famous honour board.
Other champions include major-winning legends Jack Nicklaus, Lee Trevino, Tiger Woods and Phil Mickelson.
"It's huge. it's gonna take a while to sink in I think," Smith said.
The Queenslander choked up after describing the emotion of winning in front of his mother and sister, who were visiting Smith, who lives nearby at Jacksville Beach.
"I haven't seen them in two years so it's really cool to have them here," he said.
"My main priority really was to hang out with them and golf was second these few weeks so it's nice to see them and get the win for them."
Smith's latest triumph follows his victory at the Tournament of Champions in Hawaii in January, when he won with a record score of 34 under par.
The Australian No.1 is set to climb into the world's top five for the first time ahead of next month's Masters, the year's first major at Augusta National.
© AAP 2022
- Details
- Written by Grant Broadcasters
- Category: Received
- Hits: 127
Australian golf star Cameron Smith has produced a performance for the ages to score the biggest win of his career, taking out The Players Championship in Florida in extraordinary, record-setting fashion.
Smith carded a birdie-filled and dramatic six-under-par 66 to record a steely one-shot victory at TPC Sawgrass and join a who's who of golf greats on the honour roll.
He finished at 13 under for the tournament, with plucky surprise third-round leader Anirban Lahiri settling for outright second after closing with a 69.
Englishman Paul Casey (69) was third at 11 under, with American Kevin Kisner (68) a further shot back in fourth and Keegan Bradley (68) rounding out the top five at 9 under.
Apart from the prestige of winning the PGA Tour's flagship event and the game's unofficial fifth major, Smith pocketed a cheque for $US3.6 million ($A5 million) and will rocket to second in the season-long FedExCup standings.
Described by awestruck US commentators as "other unworldly", Smith's roller coaster round in the tour's wild Monday finish after a weather-marred week featured an unprecedented 10 birdies on the Stadium Course, including five in the first six holes.
But the victory wasn't without endless tension, with Smith finding the water on the 18th hole and needing a scrambling up-and-down bogey to fend off Lahiri.
Fittingly, he delivered to complete the best putting display in the tournament's 49-year history.
Smith's 101 putts for the 72 holes was the fewest by any winner in almost half a century.
The 28-year-old joins fellow Australians Steve Elkington (1991 and 1997), Greg Norman (1994), Adam Scott (2004) and Jason Day (2016) on the famous honour board.
Other champions include major-winning legends Jack Nicklaus, Lee Trevino, Tiger Woods and Phil Mickelson.
"It's huge. It's gonna take a while to sink in I think," Smith said.
The Queenslander choked up after describing the emotion of winning in front of his mother and sister, who were visiting Smith, who lives nearby at Jacksonville Beach.
"I haven't seen them in two years so it's really cool to have them here," he said.
"My main priority really was to hang out with them and golf was second these few weeks so it's nice to see them and get the win for them."
Smith's latest triumph follows his victory at the Tournament of Champions in Hawaii in January, when he won with a record score of 34-under par.
The Australian No.1 is set to climb into the world's top five for the first time before next month's Masters, the year's first major at Augusta National.
To put his mega winner's cheque in perspective, Smith's victory spoils topped Trevino's entire career earnings.
But Smith couldn't put a price on his fifth PGA Tour win, especially after enduring such a nerve-wracking final round.
Resuming his third round on the 11th hole after five days of ferocious wind and rain, Smith birdied the island green par-3 17th to pull within two shots of Lahiri entering' the final round.
With birdies at the first four holes, then another on the sixth, Smith suddenly found himself two strokes in front.
But he made three consecutive bogeys to fall back as Lahiri, Casey and Bradley also hit the front at different stages.
Bradley's comeback was nothing short of amazing, after the former PGA Championship winner slipped to one over for the championship during his third round.
After reaching 12 under, though, Bradley unravelled with a three-putt on the 17th and then dumping his ball into the water on 18.
Smith appeared to be running way with the trophy with a string of four birdies to start his back nine and then recovering from a duck-hook tee shot on the 16th to make a miraculous par.
But after draining his 10th birdie on the signature 17th hole, Smith had to dig deep at the last.
© AAP 2022
Page 1065 of 1496