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Stephen Jones

This Month

Assistant Treasurer and Minister for Financial Services Stephen Jones says

Publishers prepare to take on TikTok over news

News publishers have successfully campaigned to have TikTok-owner ByteDance included in the government’s revised media bargaining rules. 

  • Tess Bennett
Social media services such as Facebook, Instagram and TikTok won’t face a misinformation crackdown.

Labor targets Meta, Apple, Amazon and Google with tough new rules

Global tech giants face tough new rules and hefty fines as the government moves to stop digital giants unfairly pushing their own products onto consumers.

  • Tom McIlroy and Michael Read

November

Australian investors in crypto through digital currency exchanges remain exposed given the absence of licensing laws.

Coalition attacks Treasury’s failure to produce crypto protection laws

More than a year has elapsed since Financial Services Minister Stephen Jones promised crypto regulation, leaving gaping holes as more Australians pile into bitcoin and digital coins.

  • James Eyers

October

Assistant Treasurer Stephen Jones defends the Scams Prevention Network in Melbourne on Friday.

Scam reform lacks teeth

Australia has been a happy hunting ground for criminals running high-tech scams. New laws may not help consumers seeking compensation.

  • Tony Boyd

August

AFP Commissioner Reece Kershaw.

AFP discovers 2000 compromised Australian cryptocurrency wallets

Hundreds of compromised accounts were discovered on crypto exchanges as part of a multi-nation effort dubbed Operation Spincaster.

  • Ronald Mizen
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July

Premier Steven Miles says “social media companies have no regard” and “no responsibility”.

‘Offensive’ social media companies shamed for letting scams thrive

Financial Services Minister Stephen Jones says social media giants are “dragging their heels” in the fight against scams

  • Jessica Gardner

May

Labor goes to war with Meta in far-reaching inquiry

Facebook boss Mark Zuckerberg and X owner Elon Musk could be called on to face federal parliament, as part of a new inquiry into social media algorithms.

  • Tom McIlroy

December 2023

Treasurer Jim Chalmers. The government is considering reviewing the Your Super, Your Future rules.

Labor signals review of superannuation fund performance tests

Possible changes canvassed by the government will include a shift from a strict benchmark introduced by the Coalition, two industry sources say.

  • Ronald Mizen and Kylar Loussikian

August 2023

At the Senate hearing, from left Qantas head of corporate affairs Andrew McGinnes; CEO Alan Joyce and Jetstar CEO Stephanie Tully.

Labor aims to ‘protect’ Qantas profit, Joyce clashes with senators

Qantas chief executive Alan Joyce has refused to say whether more competition from Qatar Airways would lower international airfares.

  • Updated
  • Ayesha de Kretser, Ronald Mizen and Tom Rabe
As Labor talks tough on competition policy and prepares to crack down on firms using market power to dud consumers, Financial Servies Minister Stephen Jones indicated Qantas was a special case.

Labor blocked Qatar flights to protect Qantas’ profit

As the government talks tough on competition policy and prepares a crackdown on firms using market power to dud consumers, one minister says Qantas is a special case.

  • Updated
  • Ronald Mizen and Ayesha de Kretser

July 2023

Jim Chalmers says a budget buffer is required.

Tap surplus for infrastructure spend: Labor MP

Anthony Albanese and Jim Chalmers are stressing caution around the first federal budget surplus in 15 years, but the Greens and welfare groups want more spending.

  • Tom McIlroy and Andrew Tillett

June 2023

Assistant Treasurer Stephen Jones.

Government to consider amending franking credit changes

A Senate committee wants to tweak the Albanese government’s crackdown on franking credits because it could accidentally hit banks and start-up companies.

  • John Kehoe

May 2023

What are franking credits, and who benefits from them?

Treasury says investors are wrong on franking credit changes

Claims that the government is out to destroy the franking credit system have been rebuffed by Treasury and the Tax Office.

  • John Kehoe

March 2023

Accountants say the budget measures are unlikely to lead to an exodus of PAYG taxpayers.

Bankers bonuses at risk under accountability laws

Directors and executives at banks, insurance firms and superannuation funds face losing 40 per cent of their bonuses if they fall foul of tough new laws.

  • Tom McIlroy and Michael Read

February 2023

Green light looms for Labor on super tax changes

Key crossbenchers look set to sign on to tax changes for retirement accounts with balances of more than $3 million, but the Greens could push the government to go harder.

  • Tom McIlroy and John Kehoe
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ATO pursues 50,000 fraudsters in online-based GST scam worth billions

The promoters of the fraudulent scheme use social media platforms including TikTok, Instagram and Facebook to recruit participants.

  • Luca Ittimani
Alan Tudge announcing his resignation from politics after question time on Thursday.

Tudge breaks down during resignation speech

Former minister Alan Tudge speaks of death threats against his children; PM warns Australia’s global reputation will take a hit if Voice referendum fails. Follow updates here.

  • Updated
  • Georgie Moore and Natasha Rudra

November 2022

Treasurer Jim Chalmers says Labor’s aborted attempt to levy $1.1 million fines on law-breaking financial services executives has not damaged Labor’s relationship with big business.

Labor rejects Greens deal on $1.1m fines for law-breaking bankers

Treasurer Jim Chalmers says Labor’s aborted attempt to levy fines on law-breaking executives has not damaged Labor’s relationship with business.

  • Michael Read, James Eyers and Aleks Vickovich

October 2022

Financial Services Minister Stephen Jones said the inquiry would closely examine schemes investing in real estate, which are generally not subject to prudential oversight and can be the source of significant investor losses.

Sophisticated investor test to face fresh scrutiny

Treasury will examine the opportunities available to ‘sophisticated’ investors and whether property investment schemes should be subject to tougher regulation.

  • Michael Read
Banks will be among the companies affected by the change to off-market share buybacks.

Banks to opt for dividends after buyback crackdown

The Albanese government’s crackdown on share buybacks could cause banks to resort to paying more special dividends to distribute franking credits.

  • John Kehoe

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