This week, Newspoll had One Nation jumping ahead of Labor on the primary vote, confirming what the exclusive DemosAU and Capital Brief poll first revealed last month. Meanwhile, frustration over the government's capital gains tax reforms continues to mount.

We discuss:

• One Nation's polling surge and why both Labor and the Coalition have been slow to respond.
• Tony Abbott's new role as President of the Liberal Party.
• Expectations for the upcoming Victorian state election.
• Why the CGT changes are both a political and policy mistake. 
• Malcolm Turnbull's call to separate residential and non-residential CGT changes.
• The government’s too little too late CGT consultations.
• Australia's $422 passport — the most expensive in the world. 

On The Call is a weekly live conversation with the Capital Brief newsroom on the stories driving the agenda in Australia's centres of power.

Host Harshdeep Kaur sits down with Capital Brief's best journalists to dissect what we're watching and why it matters, and answer questions from our subscribers live.

Subscribe to join our weekly live discussion on Thursdays at 12pm AEST: https://www.capitalbrief.com/on-the-call/

Sign up to our free weekly newsletter, The Edition: https://www.capitalbrief.com/newsletters/the-edition/

The collapse of Dashdot — one of Australia's most prominent buyer's agencies — raises a bigger question about whether the property market is hitting an inflection point. Meanwhile, Anthropic files for a blockbuster IPO in a trillion-dollar race with SpaceX and OpenAI.

We discuss:

• Dashdot's collapse being a significant signal of a turning property market.
• The role of negative gearing  and CGT changes in investor appetite 
• Rising insolvency risks across property-related businesses, from buyer's agents to mortgage brokers
• The political difficulty of making housing more affordable when existing owners are disadvantaged
• Anthropic's Claude Mythos expansion to 200 organisations and the confusion in Australia about who's on the list
• Anthropic, OpenAI, and SpaceX racing to be first to IPO 
• Whether or not public markets can absorb three trillion-dollar floats at once

On The Call is a weekly live conversation with the Capital Brief newsroom on the stories driving the agenda in Australia's centres of power.

Host Harshdeep Kaur sits down with Capital Brief's best journalists to dissect what we're watching and why it matters, and answer questions from our subscribers live.

Subscribe to join our weekly live discussion on Thursdays at 12pm AEST: https://www.capitalbrief.com/on-the-call/

Sign up to our free weekly newsletter, The Edition: https://www.capitalbrief.com/newsletters/the-edition/

OpenAI CEO Sam Altman's giant pixelated head looming over CBA chief executive Matt Comyn at the bank's inaugural AI summit is a somewhat honest depiction of Australia’s place in the global AI economy at present. While CBA wants to lead Australia’s AI race, technology giants are still the ones wielding the power.

Meanwhile, in the aftermath of the federal budget the big four banks and Macquarie have called time on negative gearing, folding to intense pressure and formally tightening policies around lending to investors using the tax break.

We discuss:

• Sam Altman's appearance at CBA’s AI conference and his mixed messages 
• The impending collision between CBA's war on extractive US tech and its deepening AI partnerships
• Whether Altman's pitch for Australia as a data centre superpower is an honest vision or consolation prize
• CBA and Westpac as the hardest hit banks from the negative gearing changes
• Why the banks are rolling over on negative gearing
• Shifting political sentiment on housing affordability and negative gearing

On The Call is a weekly live conversation with the Capital Brief newsroom on the stories driving the agenda in Australia's centres of power.

Host Harshdeep Kaur sits down with Capital Brief's best journalists to dissect what we're watching and why it matters, and answer questions from our subscribers live.

Subscribe to join our weekly live discussion on Thursdays at 12pm AEST: https://www.capitalbrief.com/on-the-call/

Sign up to our free weekly newsletter, The Edition: https://www.capitalbrief.com/newsletters/the-edition/

The backlash to Labor's federal budget — and its capital gains tax changes — have not slowed down since last week's episode. If anything, it has heated up. The startup sector has been particularly vocal, and Labor ministers are feeling the heat.

We discuss:

• Where the loudest opposition is coming from.
• Why Labor seems to have misjudged what the response was going to be.
• The consultation process, and why a scattershot approach from the startup community might not pay off.
• How the Coalition is going in for the attack under Angus Taylor.
• Why, in the background, biotech and life sciences firms are unhappy about changes to the  refundable R&D tax incentive.
  

On The Call is a weekly live conversation with the Capital Brief newsroom on the stories driving the agenda in Australia's centres of power.

Host Harshdeep Kaur sits down with Capital Brief's best journalists to dissect what we're watching and why it matters, and answer questions from our subscribers live.

Subscribe to join our weekly live discussion on Thursdays at 12pm AEST: ⁠https://www.capitalbrief.com/on-the-call/

Sign up to our free weekday newsletter, The Edition: ⁠https://www.capitalbrief.com/newsletters/the-edition/

Labor’s federal budget is one of the most significant in years regarding tax reform. The government is betting big on housing affordability by proposing an overhaul to negative gearing and capital gains tax — a decision that’s faced heavy criticism from the startup and VC sector.

We discuss:

• The core elements of the federal budget.
• The surprising attention given to startups in the budget announcement.
• Why founders and venture capitalists are concerned about the 50% capital gains tax discount being axed across asset classes.
• The threat of founders relocating to lower-tax jurisdictions.
• How Labor’s broken promise on tax reform is a calculated gamble on young voters.
• The focus of the Opposition’s budget response. 

On The Call is a weekly live conversation with the Capital Brief newsroom on the stories driving the agenda in Australia's centres of power.

Host Harshdeep Kaur sits down with Capital Brief's best journalists to dissect what we're watching and why it matters, and answer questions from our subscribers live.

Subscribe to join our weekly live discussion on Thursdays at 12pm AEST: ⁠https://www.capitalbrief.com/on-the-call/⁠

Sign up to our free weekly newsletter, The Edition: ⁠https://www.capitalbrief.com/newsletters/the-edition/⁠

It was a big week for banks. NAB, Westpac and ANZ posted their half-year earnings this week, projecting a rosy outlook as the RBA struck a far more sombre tone with its latest rate decision. Commonwealth Bank was also in the news after Apple’s submission to a parliamentary inquiry into digital wallets, where the tech giant singled out the bank as being ‘self-serving’.

Meanwhile, at the Macquarie Australia Conference, the heads of corporate Australia’s biggest companies all had an AI anecdote.

We discuss:

• The decade-long drama between Apple and CBA
• What the big four bank earnings actually tell us about the economy
• Michelle Bullock's unusually gloomy rate decision commentary
• The credit boom hiding beneath the cost-of-living conversation
• Why every CEO needs a "banger AI anecdote" right now
• Wisetech's Richard White and his excitement over his non-human workforce
• Qantas, Fortescue and Wesfarmers’ share how they are using AI
• The disconnect between investor optimism and economic reality

On The Call is a weekly live conversation with the Capital Brief newsroom on the stories driving the agenda in Australia's centres of power.

Host Harshdeep Kaur sits down with Capital Brief's best journalists to dissect what we're watching and why it matters, and answer questions from our subscribers live.

Subscribe to join our weekly live discussion on Thursdays at 12pm AEDT: ⁠https://www.capitalbrief.com/on-the-call/⁠

Sign up to our free weekly newsletter, The Edition: ⁠https://www.capitalbrief.com/newsletters/the-edition/

It was a big week for banks. NAB, Westpac and ANZ posted their half-year earnings this week, projecting a rosy outlook as the RBA struck a far more sombre tone with its latest rate decision. Commonwealth Bank was also in the news after Apple’s submission to a parliamentary inquiry into digital wallets, where the tech giant singled out the bank as being ‘self-serving’.

Meanwhile, at the Macquarie Australia Conference, the heads of corporate Australia’s biggest companies all had an AI anecdote.

We discuss:

• The decade-long drama between Apple and CBA
• What the big four bank earnings actually tell us about the economy
• Michelle Bullock's unusually gloomy rate decision commentary
• The credit boom hiding beneath the cost-of-living conversation
• Why every CEO needs a "banger AI anecdote" right now
• Wisetech's Richard White and his excitement over his non-human workforce
• Qantas, Fortescue and Wesfarmers’ share how they are using AI
• The disconnect between investor optimism and economic reality

On The Call is a weekly live conversation with the Capital Brief newsroom on the stories driving the agenda in Australia's centres of power.

Host Harshdeep Kaur sits down with Capital Brief's best journalists to dissect what we're watching and why it matters, and answer questions from our subscribers live.

Subscribe to join our weekly live discussion on Thursdays at 12pm AEDT: https://www.capitalbrief.com/on-the-call/

Sign up to our free weekly newsletter, The Edition: https://www.capitalbrief.com/newsletters/the-edition/

With the federal budget less than two weeks away, surging inflation and a war-driven energy shock are forcing the government to rewrite its budget narrative in real time.

Meanwhile, Senator Tim Ayres backs ‘balanced’ immigration, defends the National Reconstruction Fund and targets hyperscalers for more AI deals

We discuss:

• CPI at 4.6% and what it means for the budget
• Why "resilience" is Labor's new budget buzzword
• The blame the government may be subjected to if high fuel prices continue
• Capital gains tax reform and the housing affordability debate
• Why no one in Canberra wants to talk about the skills shortage
• The migration debate and One Nation's anti-growth agenda
• The National Reconstruction Fund
• Tim Ayres’ comments to Capital Brief on hyperscalers and AI infrastructure 

On The Call is a weekly live conversation with the Capital Brief newsroom on the stories driving the agenda in Australia's centres of power.

Host Harshdeep Kaur sits down with Capital Brief's best journalists to dissect what we're watching and why it matters, and answer questions from our subscribers live.

Subscribe to join our weekly live discussion on Thursdays at 12pm AEDT: https://www.capitalbrief.com/on-the-call/

Sign up to our free weekly newsletter, The Edition: https://www.capitalbrief.com/newsletters/the-edition/

Canva has launched Canva AI 2.0 in the design giant's biggest transformation yet. Meanwhile, healthcare company Cochlear saw its share price crash 40% on an earnings downgrade.

We discuss:

• Capital Brief's scoop on Canva's IPO timing
• Canva's AI 2.0 and the end-to-end design pivot
• The death of seat-based SaaS pricing
• Is Canva building AI or just wrapping it?
• Cochlear's 40% single day share price collapse
• Middle East disruption and weakening consumer sentiment
• Why healthcare stocks aren't always defensive

On The Call is a weekly live conversation with the Capital Brief newsroom on the stories driving the agenda in Australia's centre of power.

Host Harshdeep Kaur sits down with Capital Brief's best journalists to dissect what we're watching and why it matters, and answer questions from our subscribers live.

Subscribe to join our weekly live discussion on Thursdays at 12pm AEDT: https://www.capitalbrief.com/on-the-call/

Sign up to our free weekly newsletter, The Edition: https://www.capitalbrief.com/on-the-call/

The latest Capital Brief/DemosAU poll shows Australians want the government to keep its distance from US President Donald Trump as the Middle East conflict deepens.

The poll shows that 47% of Australians disagree with the statement that the US was a "reliable military ally", compared with 28% who agreed and 25% who did not know.

Meanwhile, corporate regulators APRA and ASIC have urged corporate Australia to get its house in order as Anthropic's latest model Mythos raises cyber risk.

We discuss:

• The news of the day: Allbird's pivot from shoes to AI
• What the latest Capital Brief/DemosAU poll shows about Australians souring on Trump
• How One Nation navigates rising support with fading Trump approval
• Global right-wing parties vs America First
• Anthropic's Claude Mythos model explained
• Why regulators are urging corporate Australia to prepare
• Why super funds are seeking ACCC approval to share cyber intel

On The Call is a weekly live conversation with the Capital Brief newsroom on the stories driving the agenda in Australia's centres of power.

Host Harshdeep Kaur sits down with Capital Brief's best journalists to dissect what we're watching and why it matters, and answer questions from our subscribers live.

Subscribe to join our weekly live discussion on Thursdays at 12pm AEDT: https://www.capitalbrief.com/on-the-call/

Sign up to our free weekly newsletter, The Edition: https://www.capitalbrief.com/newsletters/the-edition/