Afternoon Update: CGT exemptions for small business; ebike thefts soar; and Australia’s top university named

Want to get this in your inbox every weekday? Sign up for the Afternoon Update here, and start your day with our Morning Mail newsletter. Anthony Albanese has announced bigger capital gains tax exemptions for all of Australia’s 2.7m small businesses. Startups and testamentary trusts are also set to receive carve outs from the government’s contentious tax reforms. The prime minister’s announcement on Thursday follows weeks of sustained criticism from industry groups, which have labelled the move from a flat 50% CGT discount model to an inflation-linked approach as a “tax on growth”. Jim Chalmers said the CGT exemption for small business would be “substantially broader and significantly more generous” after increasing the turnover threshold to $10m. New phone evidence halts inquest into Melbourne influencer’s death following freebirth ‘I wish it hit me’: Sydney mother shares anguish after children in pram hit and killed by car One Nation senator Malcolm Roberts says he will push for party to adopt blanket abortion ban Ebike thefts soar in NSW as Victoria’s crime rate drops for first time in four years Political lobbyists with unfettered access to Australia’s p