Latest news with #JohnAppleyard
Perth Now
16-07-2025
- Business
- Perth Now
Rule costing Aussies $110m a week
Australian workers are losing $110m a week in unpaid superannuation. Super Members Council (SMC) analysis of 2022-2023 tax data shows 3.3 million Australian workers lost collectively $5.7bn in superannuation payments. This is based on the average worker losing $1730 in superannuation a year. Australians living in the ACT or the Northern Territory had the highest average underpayment, while more than one million people in NSW lost $1760 a week, 848,000 Victorians lost about $1670 and 377,450 people living in Western Australia lost $1790. The SMC said unpaid super could cost the average worker more than $30,000 from their final retirement nest egg. Employees are losing $110m a week in unpaid super. NewsWire / John Appleyard Credit: News Corp Australia When not intentional, superannuation underpayment can occur due to the timing of payments. While wages and salaries are paid weekly, fortnightly or monthly, businesses only need to pay the superannuation guarantee quarterly. Under new laws coming in July 1 2026, superannuation payday reforms will require employers to pay superannuation, salaries and wages at the same time. These reforms have been three years in the making after the federal government first announced the changes back on May 2, 2023. Aussies could be $30,000 worse off in retirement. NewsWire / John Appleyard Credit: News Corp Australia SMC deputy chief executive Georgia Brumby said Australians would pay the price for any further delays. 'Each week these laws are delayed, Australians are made $110m poorer in retirement, which means less money to pay the bills after a lifetime of hard work,' Ms Brumby said. 'The sooner this legislation is introduced and passed, the more time and certainty it will give businesses and the super payment system to prepare so all workers can get paid their super on time and in full. 'Payday super will not only stamp out unpaid super, it'll put nearly $8000 more in the average Australian's pocket at retirement thanks to more frequent payments and the power of compounding.'
Perth Now
14-07-2025
- Health
- Perth Now
World-first move for gay blood donors
Sexual activity rules that have prohibited thousands of Australians from donating blood have been lifted, smashing long-held stigmas and increasing much-needed plasma supplies. Ever since the AIDS crisis exploded into the public consciousness in the early 1980s, the Australian Red Cross has prevented gay and bisexual men, transgender people, sex workers and people taking pre-exposure prophylaxis (PREP) from donating blood. Decades later, the Red Cross Lifeblood Service reports 'some 625,000 Australians' will become eligible to donate plasma after the lifting of these rules. Australia will become the first country to remove sexual activity wait times for plasma donation and allow those on PREP to donate. NewsWire / John Appleyard Credit: News Corp Australia Lifeblood chief executive Stephen Cornelissen AM said the service was 'looking forward' to welcoming new donors into the fold. 'Importantly, today's (Monday's) change will allow those on PREP to become the first in the world to donate plasma without a wait period,' he said. 'Over the next 12 months, we estimate an extra 24,000 donors will give plasma, but we know people have been eagerly awaiting these changes and hope to far exceed these numbers.' Professor Cornelissen also took time to acknowledge the stigma that has accompanied blood donor ineligibility. 'While the rules were put in place to ensure a safe blood supply in the past, we know they have contributed to the stigma faced by many and hope today will be a turning point for Lifeblood and the LGBTQIA+ community and that people will feel welcome to come forward to donate their lifesaving plasma,' he said. Lifeblood chief executive Stephen Cornelissen estimates that an extra 24,000 people will donate plasma in the next year. NewsWire / John Appleyard Credit: News Corp Australia Throughout the '80s and '90s, AIDS became highly stigmatised, and high-profile media campaigns such as the infamous 'Grim Reaper' AIDS campaign had detrimental impacts on the already marginalised LGBTQIA+ community – a residual trauma that many still vividly recall. On Monday, several gay men donated their plasma at the Lifeblood clinic in Sydney – some for the first time and others for the first time since they became ineligible in their youth. For Kane Wheatley, 44, a schoolteacher from Sydney's inner west, donating plasma always seemed just out of reach. 'I spent my whole life thinking that I couldn't get married – and then I was able to get married … and so donating blood or plasma … I thought it was never going to be an option – we were just never going to get there,' Mr Wheatley said. Schoolteacher Kane Wheatley said donating blood was a 'privilege'. NewsWire / John Appleyard Credit: News Corp Australia 'Today it just feels really great to be able to get across the line. To be one of the first people to do this and help normalise it and show people that we can do this … it's really flattering. 'I feel really honoured and really special to be able to do it.' Matt Higgs, 31, said he was a regular donor in his youth, but his sexuality eventually rendered him 'ineligible' – an experience that he called 'pretty common'. 'My partner is the same, he has a scar on his arm because he used to donate so regularly,' Mr Higgs said. Mat Higgs donated blood in his youth but stopped for a long time due to the perceived risks his sexuality posed. NewsWire / John Appleyard Credit: News Corp Australia 'I was healthy, but because I was in a relationship with a man, I couldn't donate.' Mr Higgs acknowledged the history of his ineligibility but said change was well overdue. '(Preventing gay men from donating blood) was a response that was maybe warranted at the time, but we've moved so far beyond the time of where that decision was made and so it's huge (for destigmatisation) for sure,' he said. 'It's a great feeling to be able to come back and give back … I know plenty of people that have needed blood products in their life and to be able to contribute to that is really cool.' Plasma is an essential component of more than a dozen medical treatments for illnesses like chickenpox, brain disorders, tetanus, measles, liver disease and haemophilia.
Herald Sun
09-07-2025
- Business
- Herald Sun
Australians are spending their tax returns prior to getting the rebate
Don't miss out on the headlines from Business Breaking News. Followed categories will be added to My News. Australians have already spent an estimated $1.8bn of their expected tax return despite not the ATO warning Australians shouldn't even bother lodging a return until after July 14. New research by ING shows Australians are jumping the gun this tax time and have already spending up big after two years of cost of living pressures. ING survey data shows a quarter of Australians who think they will be getting a refund this tax time have already spent some of it. A further one in 10 have spent it all. The average amount Aussies have already spent in anticipation of their tax refund is $1,529 – adding up to an estimated $1.8 billion nationwide in pre-emptive spending. Australians are spending their tax return prior to even getting a refund. Picture: NewsWire / John Appleyard This comes as Aussies are expecting around $1177 in their tax return adding up to $11.2 billion nationwide. ING head of consumer and market insights Matt Bowen told NewsWire Australians are excited about their tax return and are looking to splurge. 'People are expecting a refund, around $1177, which is enough to excite people given a cost of living crunch and some people are pulling the trigger a little bit early, happy to spend the money before its even arrives in their bank account,' Mr Bowen said. 'I would say it is a function of having a few years of difficult cost of living. 'We certainly see tax time as a bit of a windfall of the household budget and people are getting excited and spending it quickly.' But Australians spending their tax return on indulgent purchases is nothing new. ING research shows two in five Australians have used their tax return at some point to splurge on items with new phone or laptop, new furniture, fine dining, concert tickets and collectibles, like Labubus, topping the list for what taxpayers are buying. Aussies who are spending more are likely to spend it on technology. Picture: NewsWire / John Appleyard But not all of the early splurge has been on discretionary spending. Around 41 per cent say some of the money will be put towards savings, while 24 per cent will cover essential expenditures and 12 per cent are adding the money to their mortgage. Australians also plan to use the money to invest or add to their super. ING research about tax payers already spending their refund comes as the tax man asks Aussies to slow down and wait until at least July 14 before submitting their tax return. ATO Assistant Commissioner Rob Thomson said employers have until July 14 each year to finalise payroll data, urging Aussies to wait until late July allows for the ATO to prefill information in your tax return. 'We know doing your tax return is something to tick off your to-do list each year, but there's no need to rush. The best time to lodge is from late July once everything is ready,' Mr Thomson said. 'We pre-fill information from your employer, banks, government agencies and health funds into your tax return to help you get it right the first time – regardless of whether you use a registered tax agent or lodge yourself.' Originally published as Tax return spending spree: Aussies spend $1.8bn before refunds
Perth Now
09-07-2025
- Business
- Perth Now
Insane post tax splurge revealed
Australians have already spent an estimated $1.8bn of their expected tax return despite not the ATO warning Australians shouldn't even bother lodging a return until after July 14. New research by ING shows Australians are jumping the gun this tax time and have already spending up big after two years of cost of living pressures. ING survey data shows a quarter of Australians who think they will be getting a refund this tax time have already spent some of it. When it is all added up the According to the research a quarter of Australians who are expecting a refund admit to spending at least some of their refund while one in ten say they've spent it all. The average amount Aussies have already spent in anticipation of their tax refund is $1,529 – adding up to an estimated $1.8 billion nationwide in pre-emptive spending. Australians are spending their tax return prior to even getting a refund. NewsWire / John Appleyard Credit: News Corp Australia This comes as Aussies are expecting around $1177 in their tax return adding up to $11.2 billion nationwide. ING head of consumer and market insights Matt Bowen told NewsWire Australians are excited about their tax return and are looking to splurge. 'People are expecting a refund, around $1177, which is enough to excite people given a cost of living crunch and some people are pulling the trigger a little bit early, happy to spend the money before its even arrives in their bank account,' Mr Bowen said. 'I would say it is a function of having a few years of difficult cost of living. 'We certainly see tax time as a bit of a windfall of the household budget and people are getting excited and spending it quickly.' But Australians spending their tax return on indulgent purchases is nothing new. ING research shows two in five Australians have used their tax return at some point to splurge on items with new phone or laptop, new furniture, fine dining, concert tickets and collectibles, like Labubus, topping the list for what taxpayers are buying. Aussies who are spending more are likely to spend it on technology. NewsWire / John Appleyard Credit: News Corp Australia But not all of the early splurge has been on discretionary spending. Around 41 per cent say some of the money will be put towards savings, while 24 per cent will cover essential expenditures and 12 per cent are adding the money to their mortgage. Australians also plan to use the money to invest or add to their super. ING research about tax payers already spending their refund comes as the tax man asks Aussies to slow down and wait until at least July 14 before submitting their tax return. ATO Assistant Commissioner Rob Thomson said employers have until July 14 each year to finalise payroll data, urging Aussies to wait until late July allows for the ATO to prefill information in your tax return. 'We know doing your tax return is something to tick off your to-do list each year, but there's no need to rush. The best time to lodge is from late July once everything is ready,' Mr Thomson said. 'We pre-fill information from your employer, banks, government agencies and health funds into your tax return to help you get it right the first time – regardless of whether you use a registered tax agent or lodge yourself.'
Perth Now
04-07-2025
- Business
- Perth Now
May spending surge crushes expectations
Household spending soared in the month of May, surpassing market estimates just days after retail sales underwhelmed. Fresh figures from the ABS show household spending indicators gained 0.9 per cent month on month beating market predictions of a 0.5 per cent increase. The rise in household spending came just two days after soft retail data came in at 0.2 per cent, against forecasts of a 0.5 per cent lift. Australian are spending more at the shops. NewsWire / John Appleyard Credit: News Corp Australia Commonwealth Bank senior economist Belinda Allen explained to NewsWire the difference in figures comes from how the data is collated. 'There's a few differences between the two releases, with retail trade being survey-based and only capturing around a third of consumer spending,' Ms Allen said. 'Monthly household spending intentions data, which came out today, uses bank transactional data and other sources so it includes a bit over 60 per cent of consumer spending. 'Depending on what cateorgy does well can mean the difference between the releases.' According to Friday's monthly household spending data seven of the nine spending categories rose in May, led by Clothing and footwear, which was up 3.7 per cent, Transport gained 1.7 per cent, and Miscellaneous goods and services rose 1.3 per cent. Alcoholic beverages and tobacco slipped 1.4 per cent and Food dropped 0.1 per cent to be the only two negative quarters. This follows a flat result in April and a 0.1 per cent fall in March. Robert Ewing, ABS head of business statistics, said the rise in May was driven by spending on discretionary goods and services. 'Discretionary spending rose 1.1 per cent, as households spent more on clothing and footwear, new vehicles, and dining out,' he said. 'Meanwhile, non-discretionary spending was up 0.5 per cent, rising for a fifth consecutive month.' Household spending is now 4.2 per cent higher than this time last year, led by health spending which jumped 8.4 per cent and miscellaneous goods and services which is up 8.3 per cent. Services spending was 7.5 per cent higher than May 2024, while goods spending was up 1.5 per cent. The boost in household spending indicators comes just days after the ABS also released its retail sales data which underwhelmed market expectations. A raise in household spending defied weak retail sales Credit: News Corp Australia, NewsWire/ Monique Harmer Retail sales were up 0.2 per cent in May following a disappointing April which saw sales fall by 0.1 per cent even though Australians were treated to two public holidays in the month. Ms Allen said regardless of the figure used, it is too low to impact the RBA rate decision next week. 'When you look at the collective data since the May release … there has been enough to show that lower interest rates are both necessary and manageable for the Australian economy both from an activity and inflation perspective' she said. 'We have to remember interest rates are still in restrictive territory, they will still be in the restrictive territory with this next rate cut and the economic recovery is still pretty lacklustre.' Ms Allen said even though consumer spending picked up on today's household spending data it is too early to tell if Australia's economy is starting to track better. 'There are some green shoots in the data,' she said. 'Discretionary spend is a little stronger, including eating and drinking out so there are some areas where you can see an improvement in consumer spending. 'But if you look at how much it has lifted throughout the year, it is still pretty soft.'
