Former Australian diplomat says budget 'preparing for very difficult times ahead'

Two of the world's most powerful leaders are about to hold a high-stakes meeting in Beijing.We'll find out what's on the agenda and what both sides want from the discussions from a former advisor to the US National Security Council and the CIA.Then, what questions do you have about the government's tax changes in the budget? We'll put them to a chartered accountant. And we'll speak with someone on the frontline of Ukraine's veteran mental health battle, as Russia's invasion continues for a fourth year. Recap the morning's news, politics and global affairs with the Breakfast Wrap.

Treasurer Jim Chalmers calls the tax changes unveiled in Tuesday's budget "the most significant in a quarter of a century".Meanwhile, the accounting body CPA Australia - call them a "tax grab" that places "a heavier burden on ordinary Australians".It's prompted many questions around just what the changes to capital gains tax, negative gearing and family trusts mean - so let's try and get you some answers.GUEST: Jo-anne Hotston, chartered accountant and tax trainerPRODUCER: Jason Whittaker

Louise Pleming was just six when she started playing tennis.  But out in the country with no-one but her siblings to play against, her main opponent was a wall.Louise would go on to play at major opens, win doubles titles, train elite players like Jelena Dokic and become a Grand Slam commentator.But another major point in her life came in a kitchen serving food to people experiencing homelessness.It was an experience that would see her create a new way forward with tennis, using it to connect people from all walks of life, break down barriers and improve mental wellbeing. Guest: Louise Pleming, Grand Slam commentator, tennis coach and former professional player. She is also the co-founder of Rally4Ever. 

Back to the federal budget now, and what it has to say about the government's priorities on the global stage.Foreign aid is being maintained – but with some cuts to multilateral organisations like the United Nations.Meanwhile the Government announced last month that an extra 53-billion dollars will go towards Australia's defence capabilities over the next decade, with defence spending climbing to 3% of GDP by 2033 - using NATO measurements.So, what are the geopolitical ramifications? GUEST: Jane Hardy, former Australian diplomat with more than 30 years’ experience in the foreign servicePRODUCER: Pip Cook

The Coalition is vowing to do all it can to stop the government's property tax reforms, ahead of Opposition Leader Angus Taylor's budget reply speech this evening.GUEST: Andrew Bragg, Shadow Minister for Housing and Homelessness PRODUCER: Isadora Bogle 

As part of the federal budget, Treasurer Jim Chalmers unveiled a plan to restrict negative gearing and amend the capital gains tax discount, to make it easier for younger Australians to own their own home. However, the Greens wanted to see "far stronger action" on these tax changes. GUEST: Nick McKim, Greens Economic Justice spokespersonPRODUCER: Isadora Bogle

The Coalition is vowing to do all it can to stop the government's property tax reforms, ahead of Opposition Leader Angus Taylor's budget reply speech this evening.As part of the federal budget, Treasurer Jim Chalmers unveiled a plan to restrict negative gearing and amend the capital gains tax discount, to make it easier for younger Australians to own their own home. GUEST: Clare O'Neil, Minister for Housing PRODUCER: Isadora Bogle 

Chaos has erupted at the Philippine Senate after gunshots were fired in the building where a senator wanted by the International Criminal Court is taking refuge. 

The changes to negative gearing and the capital gains tax are an attempt by the Federal Government to make it easier for people to get their start in the property market.The government expects the changes will move 75-thousand properties from the hands of investors to home owners and slow house price growth.  Guest: Jacob Caine, President Real Estate Institute of AustraliaProducer: Grace Stranger

Intergenerational fairness is a key focus of Labor's budget this week - with changes to tax concessions aimed at helping young people get a foot in the door of the property market.But it's not just young people who are struggling with the housing crisis - older women have been recognised as the fastest-growing group of people experiencing homelessness in Australia in recent years. GUEST: Beverly Baker, CEO Older Women’s Network Australia PRODUCER: Eddy Diamond