WEBVTT - Albo’s $300 gift to every worker

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<v Speaker 1>Today's biggest News from The Australian. I'm Claire Harvey with

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<v Speaker 1>the Front's afternoon headlines. If you have a job, you'll

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<v Speaker 1>be getting a two hundred to three hundred dollars gift

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<v Speaker 1>from the federal government in next Tuesday's federal budget. Treasury

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<v Speaker 1>Jim Chalmers is calling it an earned income offset, and

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<v Speaker 1>it'll show up in your tax return, a way of

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<v Speaker 1>recognizing the difference between those who earn wages and pay

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<v Speaker 1>tax and those who live off savings or other forms

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<v Speaker 1>of income. It's already making economists nervous, though, because the

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<v Speaker 1>government's been repeatedly warned not to go nuts with stimulus

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<v Speaker 1>that is, splashing cash around the economy when inflation's already

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<v Speaker 1>a serious problem. On that, the Reserve Bank has jacked

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<v Speaker 1>the cash rate up in an attempt to stop Australians

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<v Speaker 1>spending so much, and banks are busy putting their mortgage

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<v Speaker 1>rates up to match. When you add in three billion

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<v Speaker 1>dollars worth of cuts to the fuel excise, the government

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<v Speaker 1>is definitely increasing the cash in taxpayers pockets and that

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<v Speaker 1>could push rates higher if price inflation keeps growing. The

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<v Speaker 1>budget's other big moves will include scrapping negative gearing for

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<v Speaker 1>existing properties that's designed to help young Australians get into

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<v Speaker 1>homes by making property less attractive to investors and rejigging

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<v Speaker 1>the way capital gains attacked on all kinds of investments.

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<v Speaker 1>Anthony Albanesi and Charmers will sell this as intergenerational equality,

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<v Speaker 1>making the tax system fairer for young people and reducing

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<v Speaker 1>some of the benefits being enjoyed by wealthy older people

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<v Speaker 1>with investments in property and other assets. The changes would

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<v Speaker 1>be at least partly grandfathered, meaning they would not apply

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<v Speaker 1>to all presently owned assets. The three hundred dollars cash

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<v Speaker 1>splash is a scoop in The Australian Today by our

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<v Speaker 1>economics editor Matthew Cranston. Matt breaks all the big yarns

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<v Speaker 1>about the government's plans well before they want you to know.

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<v Speaker 1>Join us subscribers at Beaustralian dot com dot a U

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<v Speaker 1>to make sure you're always the first to know. In

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<v Speaker 1>other news, the Royal Commission into Anti Semitism and Social

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<v Speaker 1>Cohesion has been hearing stories of shocking racist abuse directed

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<v Speaker 1>at Jews here in Australia, with one man claiming New

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<v Speaker 1>South Wales police discouraged him from pursuing action against a

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<v Speaker 1>man who shouted abuse at him on Sydney's Oxford Street

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<v Speaker 1>while performing Nazi salutes and gun gestures. The man near

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<v Speaker 1>Goland said he'd been targeted by online trolls for giving

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<v Speaker 1>evidence of the Royal Commission. Commissioner Virginia Bell said it

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<v Speaker 1>would be a criminal offense if anyone took adverse action

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<v Speaker 1>arising from his evidence. The Royal Commission live stream is

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<v Speaker 1>on our website right now, along with all our analysis

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<v Speaker 1>and come back to the front first thing in the

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<v Speaker 1>morning for our look at the latest in the case

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<v Speaker 1>of Jefferson Lewis, the man accused of murdering a five

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<v Speaker 1>year old girl in the Northern Territory. She disappeared from

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<v Speaker 1>just outside Alice Springs, a town camp that's one of

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<v Speaker 1>Australia's most troubled communities, and our reporter Lean Mendez has

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<v Speaker 1>been speaking to residents about the camps, their relationships with police,

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<v Speaker 1>and why politicians suddenly don't want to talk about it.

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<v Speaker 1>That's right here Wednesday morning.