A bold proposal to give Australians an extra $3,300 per year in exchange for a rise in the goods and services tax is being treated with caution by the major parties.

Council of the City of Sydney

Independent MP Kate Cheney has suggested raising Australia's Goods and Services Tax (GST) from 10% to 15%, a move that Parliamentary Budget Office modelling estimates could generate $92.5 billion for the budget in a single financial year. The proposal would also remove current GST exemptions on items such as food and childcare, potentially increasing prices for consumers. To offset the impact, a $3,300 basics rebate would be provided to every taxpayer, costing $68.8 billion and leaving $23.8 billion for the budget. According to the modelling, the bottom 60% of income earners would on average benefit from the compensation. The plan has received mixed reactions and is one of several ideas to be discussed at an upcoming economic reform roundtable, but the government has stated it will not support any tax increases beyond its current mandate.

WA independent proposes raising GST

In suburban Melbourne, the Prime Minister opens his government's 90th urgent care clinic. This is an example of a government over-delivering on our promise. But it's the health of Australia's economy in the headlines today, with a bold proposal from independent MP Kate Cheney. We could actually increase the GST from 10 to 15 percent. According to Parliamentary Budget Office modelling commissioned by Ms Cheney, raising the GST from 10 to 15 percent would raise $92.5 billion for the budget next financial year alone. But there's a catch. So we'd remove those exemptions on childcare and food and other categories. And that would see prices at the checkout soar. To offset that, a $3,300 basics rebate would be given to every taxpayer, costing the budget $68.8 billion, leaving $23.8 billion left over to balance the books. The bottom 60% of income earners would on average come out ahead. So that's exactly why the compensation's so important. The proposal has mixed reviews. If we need to generate more tax, why don't we tax, you know, the ultra-wealthy? The tax system is incredibly complicated. I think if it was simpler, it would be easier to pull different levers to raise money. Raising the GST is just one of several ideas to be put forward at the government's economic reform roundtable in Canberra later this month. The Prime Minister, though, talking down today's proposal. The only tax policy that we're implementing is the one that we took to the election. This government has no mandate for any tax increases and we will not be supporting them to increase taxes on Australians. Matthew Karstunen, 10 News.

As Sean "Diddy" Combs awaits his sentencing, his lead attorney Marc Agnifilo says he has not talked to anyone at the White House about a possible pardon.

New York

Sean "Diddy" Combs' attorney says he hasn't had talks about a pardon

An agreement has been reached between the U.S. and Russia for President Trump to meet with Russian President Vladimir Putin "in the coming days," the Kremlin said. In recent weeks, Trump has voiced frustration as the U.S. tries to broker a peace deal over the war in Ukraine.

Moscow

Ukraine Invasion

Trump to meet with Putin "in the coming days," Kremlin says

Mike Huckabee, the U.S. ambassador to Israel, blamed Hamas when asked about starvation in Gaza, saying, "Hamas has not allowed the food to get to the people who are hungry." Huckabee also addressed questions over the controversial aid sites.

Jerusalem

Middle East Conflict

U.S. Ambassador to Israel faces questions over starvation in Gaza

On "T-Day," the US began enforcing Trump's new tariffs, raising average rates from 2% to 15% after a 90-day pause allowed some countries to negotiate reduced deals while others, like India and Brazil, faced hikes. These tariffs have generated over $150 billion in revenue by July, impacting various sectors and aiming to address trade imbalances.

Washington

Global Tariffs

U.S. begins collecting Trump's new global tariffs

Brazil’s President Luiz Inacio Lula da Silva says he plans to call the leaders of China and India, to discuss a joint response to new US tariffs. The announcement came as Brazil and India were hit with 50 percent levies - the highest imposed by President Donald Trump.

State of Rio de Janeiro

Brazil halts U.S. trade talks as Lula condemns new tariffs

U.S. President Donald Trump imposed an additional 25% tariff on Indian goods, citing New Delhi's continued imports of Russian oil in a move that sharply escalated tensions between the two nations after trade talks reached a deadlock.

Trump imposes extra 25% tariff on India over Russian oil imports

President Trump has been briefed about the shooting at Fort Stewart in Georgia, the White House press secretary says. At least five soldiers were shot before a suspect was apprehended, officials say.

Fort Stewart

Five soldiers shot at Fort Stewart in Georgia; suspect apprehended

A Russian official said President Trump's special envoy to the Middle East, Steve Witkoff, had a "useful and constructive" conversation with Russian President Vladimir Putin in Moscow on Wednesday.

Witkoff, Putin had 'useful and constructive conversation'

The U.S. aims to deploy nuclear power reactors on the Moon and Mars, targeting the first launch by decade’s end. A new NASA directive, revealed by Politico and AFP, calls for appointing a nuclear power czar to choose two commercial proposals within six months, aiming to outpace a Chinese-Russian collaboration.

NASA races to put nuclear reactors on Moon and Mars

Japan held a memorial service and ceremony for victims and the remaining survivors of the U.S. atomic bombing of Hiroshima, marking its 80th anniversary and renewing pledges of working towards a world without nuclear weapons.

Hiroshima

Hiroshima marks 80th anniversary since U.S. atomic bombing

The U.S. is warning travelers as cases of chikungunya, a mosquito-borne illness, spreads in China. Health officials in China have ordered mass disinfection measures. The region near Hong Kong reported more than 7,000 cases in recent weeks.

Beijing

U.S. warns travelers as cases of chikungunya increase in China

Japan has commemorated the 80th anniversary of the Hiroshima atomic bombing during World War II. Ceremonies at Peace Memorial Park honoured the victims of the 1945 nuclear attack by US forces.

Japan’s Hiroshima marks 80 years since U.S. atomic bombing

Multiple media outlets in Israel have reported that Israeli Prime Minister Benjamin Netanyahu wants a complete military takeover of Gaza, while almost 600 former Israeli military and security officials are petitioning Washington to stop the fighting.

Netanyahu reportedly wants complete Gaza takeover

Ukrainian President Volodymyr Zelenskyy said Tuesday that he had a productive talk with President Trump focused on ending the war with Russia. CBS News national security contributor Samantha Vinograd has more.

Kyiv

Zelenskyy holds 'productive talks' with Trump about war

Family members of two of the victims from the 2023 implosion are demanding tougher regulations following the damning report released on Tuesday. Five people died when the submersible imploded off the coast of Newfoundland.

Deadly Titan submersible disaster was preventable, Coast Guard says

The House Oversight Committee has subpoenaed multiple people over the Jeffrey Epstein files, including former President Bill Clinton and former Secretary of State Hillary Clinton. CBS News' Jake Rosen has more details.

House committee subpoenas Clintons, others over Epstein files

U.S. Customs and Border Patrol agents have been directed through a federal court order to stop deportations under President Trump's asylum ban, sources say. CBS News' Camilo Montoya-Galvez has more details.

Court blocks deportations under Trump's asylum ban, sources say

A man suspected of murdering four family members in Tennessee has been captured after a four-day manhunt, authorities said. CBS News' Nicole Valdes has more.

Jackson

Suspect arrested in murders of 4 Tennessee family members

The ruling comes a month after Brazil’s top court ordered the former president to wear an ankle monitor, submit to a curfew and abide by limitations on his activity as legal proceedings investigating an alleged coup plot continue.

Brazil's Supreme Court orders house arrest of Bolsonaro

The US and Lebanon have been holding talks on a roadmap to fully disarm Hezbollah. Lebanon's new leadership has pledged to extend its authority across all its territory but has so far avoided acting against Hezbollah.

Beirut

Lebanon faces renewed pressure to disarm Hezbollah

CBC News had exclusive access to a Canadian Armed Forces plane that dropped about 10,000 kilograms of humanitarian aid into Gaza, the first time Canada joined the airdrop operations. Several countries airdropped food on Monday, but aid organizations agree they are more symbolic than effective.

Ottawa

Canadian military makes aid drop into Gaza

The Prime Minister's Office said to the Chief of Staff, Lieutenant General Eyal Zamir that, "If this does not suit him, you should resign."

Israel's Netanyahu says decision made for full occupation of Gaza

Delegates are gathering this week at the United Nations in Geneva, attempting to negotiate a global treaty to curb plastic pollution. But diplomats and climate advocates warn that efforts by the European Union and small island states to cap virgin plastic production are threatened by opposition.

Geneva

Strong UN treaty on plastic pollution in doubt as talks resume

President Trump announced Friday on social media that he ordered two nuclear submarines to move into more strategic positions near Russia. On Monday, Russian officials downplayed the comments and warned about the risk of nuclear rhetoric.

Russia downplays Trump's announcement about nuclear submarines

U.S. trade representative Jamieson Greer told "Face the Nation" that tariff rates are "pretty much set" ahead of President Trump's Aug. 7 deadline. CBS News MoneyWatch correspondent Kelly O'Grady has the latest.

White House holds firm on tariff rates ahead on Aug. 7 deadline

Donald Trump confirmed his special envoy Steve Witkoff will visit Russia, ahead of a deadline the U.S. president has set for Russia to agree to end the Ukraine war or face new sanctions. Witkoff is expected in Moscow in the middle of this week.

U.S. envoy Steve Witkoff expected to visit Russia

New images of emaciated Israeli hostages held in Gaza have horrified Israelis and added pressure on Prime Minister Benjamin Netanyahu to reach a ceasefire with Hamas, even as his government considers another expansion of the nearly 22-month war.

Tel Aviv-Yafo

Videos of hostages increase pressure on Netanyahu for ceasefire

Pope Leo XIV wrapped up a weekend jubilee for more than 1 million young Catholics at a Rome suburb. As a new generation from around the globe celebrated, the pope drew attention to their peers in Ukraine and Gaza who cannot.

Rome

Pope Leo XIV addresses Gaza, Ukraine at youth festival

A shipwreck off Yemen has killed at least 68 people, the UN's migration agency said, with dozens still missing after the boat carrying mostly Ethiopians sank.

Sana'a

Migrant boat sinks off Yemen, killing at least 68

After two unverified videos of Israeli hostages were released, Hamas said the hunger crisis in the region puts them at risk. The militant group said it would deliver food from the Red Cross to the hostages under a couple of conditions, including permanent humanitarian corridors.

Breakdown