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Australian Over-50s Village Operator's Stock Drops on Fee Ruling
Australian Over-50s Village Operator's Stock Drops on Fee Ruling

Bloomberg

timea day ago

  • Business
  • Bloomberg

Australian Over-50s Village Operator's Stock Drops on Fee Ruling

Lifestyle Communities Ltd. shares tumbled the most in 16 years after an Australian state tribunal ruled that some of the retirement village operator's exit fee agreements should be scrapped. The stock plunged as much as 42%, the most since January 2009, after the Victorian Civil and Administrative Tribunal found that some of the company's deferred management fees, also known as exit fees, should be declared void. The company plans to appeal the decision, it said in an exchange statement Tuesday.

The SRL may be the future but now's needs come first
The SRL may be the future but now's needs come first

The Age

time01-07-2025

  • Business
  • The Age

The SRL may be the future but now's needs come first

Cycle of construction Dictatorial powers exercised by the state government on planning approvals, referred to as the 'Development Facilitation Program' reveal symptoms of the government's extreme budgetary stress from long-term structural deficits (' The suburbs set to be transformed by minister's sweeping powers ', 1/7). Planning, land development and construction translate into revenue from a range of land taxes and related revenue sources, designed to stimulate an economy that continues to perform sub-optimally. According to the 2025-26 state budget papers, revenue from land tax is forecast to be $6.4 billion in 2025-26, then grow by an average of 5.7 per cent a year over the forward estimates. This growth rate reflects expectations of high construction levels and property sales. Yet in a globalised economy, revenue from a cycle of construction, property sales and high migration levels does not take advantage of the globalised market place and is self limiting. Sectors such as technology innovation and commercialisation of inventions with international application deliver far greater opportunities for economic growth but do not appear on the horizon of a government that prefers repetition of a self-limiting economy with a focus on manual labour. Liz Burton, Camberwell Lack of openness When the federal IBAC was established in the early days of the first Albanese government it was a breath of fresh air after years of prevarication by the Morrison government. Unfortunately the lack of openness and transparency in its processes has been a great disappointment. The recent findings of corrupt behaviour by a senior public servant in appointing a close relative's friend to a high-profile job (' Senior public servant promoted sister's fiance, forged signature ', 1/7) without naming any of the parties involved is such an example. Peter Randles, Pascoe Vale South Blinded to the costs VCAT's decision on an illuminated housing estate sign is to be applauded (' VCAT's dim view on lights at night ', 1/7) with more cases surely to emerge with the full-scale adoption of LED lights by councils. This trend disregards the effect of LED lights on health, not only of humans but also wildlife which rely on darkness to navigate via the night sky. This is not to say that lighting is not necessary at night. Other colours such as the yellow we used to have is preferable to the glare of bright white/blue light from LEDs which contain an imperceptible flicker effect. Much has already been noted scientifically about the effects of our overuse of digital devices upon sleep deprivation and its association with poor health. Now, with the proliferation of LED lights in homes, by retailers, car headlights, street lighting, AFL advertising around the ground and live performances, it is time for authorities to look beyond economics and look to the unintended consequences of new technologies before they are launched on the market. Many of us find oncoming headlights blinding nowadays, even when on low-beam. It would not surprise me if this led to an increase in certain car crashes. Anne Carroll, Brighton East An unhappy outcome The latest pay request by teachers (' State teachers seek 35% pay rise ', 1/7) will no doubt be followed by a strike and then a confusing pay scale update giving teachers a below inflation pay rise of about 2 per cent or 3 per cent as has generally been the pattern since 1982 when I started teaching. The only teaching number at risk of going above 35 per cent is the number of teachers that leave before five years in the classroom. Teaching has been, and can be again, a wonderful career but there is much to be done to return the average classroom to 25 happy, enthusiastic students with one teacher that walks in with a smile. Dennis Fitzgerald, Box Hill What's super for? Re: ' He proposed it 34 years ago. On Tuesday, Paul Keating's plan comes to fruition ' (The Age, 1/7), the government needs to define just what the purpose of superannuation legislation is. Is it to provide a taxpayer-subsidised investment scheme or inheritance scheme for the wealthy, or to lift ordinary people off the pension and provide them a reasonable income in retirement without recourse to the government pension. I believe it is, or should be, the latter. The Association of Superannuation Funds of Australia recommendation for a comfortable life in retirement is around $52,000 for singles and $73,000 for couples with the super balance required for that level of income $595,000 for singles and $690,000 for couples. The current individual transfer cap for a tax-free retirement pension, at nearly $2 million (indexed) is very generous. With even conservative investment returns of 5 per cent this would provide an income of $100,000 per annum without diminishing the principal. This amount doubles for couples to $200,000 per annum. If the aim is to move people off the government pension then the transfer cap is the maximum that any person or couple could possibly need for this purpose and super balances should not exceed this amount. Ken Weaver, East Brighton Israel's wins In the recent brief war between Israel and Iran, Israel, having recognised the existential threat posed to it by Iran's public race towards nuclear weapons and rapidly expanding ballistic missile arsenal, destroyed Iran's air defences and killed almost the entire upper echelon of Iran's military, IRGC and nuclear scientists, whose purpose is the total demise of Israel. It also destroyed Iran's air force, its defences against air attack, more than half of its missiles and missile launchers, elements of its nuclear weaponisation program, and many of the regime's institutions of oppression. Then the US inflicted major damage on the rest of Iran's nuclear weapons facilities, once Israel made Iran's skies safe for it. Israel intercepted at least 90 per cent of the hundreds of missiles and all but one of the roughly 1000 drones Iran fired at Israel. While Israel suffered some damage and deaths from Iran's attacks on civilians, it was far less than Israel had feared. So to suggest, as Amin Saikal does, (Opinion, 1/7) that the war demonstrated Israeli miscalculation and Iranian strength simply defies belief and ignores fact. Stephen Lazar, Elwood Trump's achievements Has there been a US president who has achieved what Donald Trump has achieved in just six months? He reduced the flow of illegal immigrants from thousands a day to a trickle. Eliminated billions of dollars of government rorts and waste. Despite the experts predicting that tariffs would create massive inflation and recession, the S&P 500 has just hit a record high and inflation has dropped to the lowest level since Trump was president previously. His work was vital in the peace deal between nuclear powers Pakistan and India, with Pakistan nominating him for a Nobel peace prize. His administration brokered peace between Rwanda and the Democratic Republic of Congo after a three-year war, and conflict that dates back 30 years. His administration negotiated the release of the last US hostage held by Hamas and facilitated peace talks between Russia and Ukraine in coming days. He ordered the bombing of Iran's nuclear weapons sites, and Iran is set to resume peace talks. He convinced NATO to dramatically increase defence spending. But Trump's critics will no doubt find a way to criticise these achievements. Robert Box, Chelsea Crisis in Gaza In our lives we have seen few situations as awful as Gaza. Israel's blockade of adequate food, water and medical supplies for several months has led to infants and children becoming severely malnourished. Desperate people seeking limited food from the only provider, which is controlled by Israel, come under lethal fire. The images cause us to recoil in horror as we observe the suffering of the hungry and frightened children, and the anguish of their parents. No history, no previous grievous acts, justifies the continuation of this abhorrent war and blockade. Andrew & Marie Trembath, Blackburn In your hands Sorry, but there is only one reason parliament is dominated by one sector – we voted for them (' We are a diverse nation. Enough stale, pale males ', 1/7). There were plenty of very capable young women who stood in the last election but didn't get the votes. If you looked beyond the party and voted for the best candidate, our parliament would be very different and a lot more effective. Don't blame the pale, stale, male outcome, change the way you vote. Stuart Perry, Longford Quotas work Timor-Leste's 2006 electoral law mandates that political parties include at least one woman for every three of their candidates. Thus women hold 35.38 per cent of parliamentary seats, one of the highest percentages in the Asia-Pacific region. If this young democracy can make quotas work successfully, the Liberal Party can too. Elizabeth Douglas, Melbourne AND ANOTHER THING Trump So Trump is outraged over being called TACO (Trump always chickens out). Does that mean that he is a TAPAS (Trump a president above sanction)? Kevan Porter, Alphington Gender in politics I'm always amused when people oppose quotas on the grounds of 'merit.' If the incumbents are the best merit has to offer, then heaven help us all. Sally Gatenby, Richmond Sussan Ley's experience in aerial sheep mustering may help her keep Canberra's dinosaurs rounded up, and shuffling along. Barbara Chapman, South Yarra AFL What I find strange about the AFL footy is when the teams are not winning or doing well everyone blames the coach: 'Off with his head'. I thought there were others involved in the game? Nola Cormick, Albert Park Supporters should boycott all Saturday AFL games until the games are back on free to air. Peter Gustavsen, Brighton Loading Furthermore Congratulations to the ACT government for leading the way by being the first Australian jurisdiction to raise the age for criminal responsibility to 14 years. Now other states need to do the same and provide the extra funding to keep our children at home safe. Margaret Pekin, Thornbury Re: ' A thorny issue: How sea urchins could offer a perverse climate hope ' (29/7), I recently returned from Greece, with an expensive trip to the doctor to remove seven sea urchin spines from my wrist. As a regular bay open water swimmer, I encourage action to ensure they don't take over our beautiful environment. Kerry O'Shea, Hampton

Inner-north bar ‘relentlessly targeted' with hundreds of ‘petty' complaints from residents
Inner-north bar ‘relentlessly targeted' with hundreds of ‘petty' complaints from residents

Sydney Morning Herald

time24-06-2025

  • Sydney Morning Herald

Inner-north bar ‘relentlessly targeted' with hundreds of ‘petty' complaints from residents

The owners of a bar in Melbourne's inner-north say they are exhausted after defending their venue from hundreds of 'petty' complaints from neighbours, but that they're 'not going down quietly'. 'For the past four years, we've been relentlessly targeted by a small group of nearby residents,' the owners of Moonee Ponds restaurant and bar Holmes Hall said in a post on social media. David Bartl, Jacob Bettio and Lachlan Taylor said their bar has been subjected to hundreds of complaints, including more than 30 freedom of information requests, multiple appeals to the Victorian Civil Appeals Tribunal (VCAT) and attempts to revoke their planning permit entirely. 'We're a local venue doing everything right,' they said in a post on Instagram. 'And we're exhausted.' The owners said the complaints were part of a broader issue affecting small, community-minded venues across Melbourne. 'Good operators are being dragged through endless red tape and legal attacks by individuals trying to shut them down – not because they've done something wrong, but because they simply exist,' they said. The Age has been provided with copies of some of the complaints made to Moonee Valley City Council. They include accusations of deliveries not being conducted in prescribed loading zones, waste collections occurring on public holidays, patrons using an incorrect door as an exit, alcohol being consumed outside permitted areas, music exceeding permitted volumes, seating not being in accordance with permits, illegal parking by patrons, pressure-washing equipment causing waste water to enter stormwater assets and signs for 'Drag Bingo' and 'Tipsy Trivia' on walls in contravention of the pub's planning permit. Former footballer and coach Danielle Laidley is a regular at Holmes Hall and lives nearby. She said she had never heard any noise or ruckus coming from the venue.

Inner-north bar ‘relentlessly targeted' with hundreds of ‘petty' complaints from residents
Inner-north bar ‘relentlessly targeted' with hundreds of ‘petty' complaints from residents

The Age

time24-06-2025

  • The Age

Inner-north bar ‘relentlessly targeted' with hundreds of ‘petty' complaints from residents

The owners of a bar in Melbourne's inner-north say they are exhausted after defending their venue from hundreds of 'petty' complaints from neighbours, but that they're 'not going down quietly'. 'For the past four years, we've been relentlessly targeted by a small group of nearby residents,' the owners of Moonee Ponds restaurant and bar Holmes Hall said in a post on social media. David Bartl, Jacob Bettio and Lachlan Taylor said their bar has been subjected to hundreds of complaints, including more than 30 freedom of information requests, multiple appeals to the Victorian Civil Appeals Tribunal (VCAT) and attempts to revoke their planning permit entirely. 'We're a local venue doing everything right,' they said in a post on Instagram. 'And we're exhausted.' The owners said the complaints were part of a broader issue affecting small, community-minded venues across Melbourne. 'Good operators are being dragged through endless red tape and legal attacks by individuals trying to shut them down – not because they've done something wrong, but because they simply exist,' they said. The Age has been provided with copies of some of the complaints made to Moonee Valley City Council. They include accusations of deliveries not being conducted in prescribed loading zones, waste collections occurring on public holidays, patrons using an incorrect door as an exit, alcohol being consumed outside permitted areas, music exceeding permitted volumes, seating not being in accordance with permits, illegal parking by patrons, pressure-washing equipment causing waste water to enter stormwater assets and signs for 'Drag Bingo' and 'Tipsy Trivia' on walls in contravention of the pub's planning permit. Former footballer and coach Danielle Laidley is a regular at Holmes Hall and lives nearby. She said she had never heard any noise or ruckus coming from the venue.

Years of horror hoarding fills Batesford property, owner says VIDEO
Years of horror hoarding fills Batesford property, owner says VIDEO

Herald Sun

time19-06-2025

  • Herald Sun

Years of horror hoarding fills Batesford property, owner says VIDEO

Don't miss out on the headlines from Geelong. Followed categories will be added to My News. A hoarder's Batesford property, covered from end to end in a sea of junk, is at the centre of a bitter dispute between a brother and sister. Henry Hey, who co-owns the Ballarat Rd home with his sister Marion Battista, has reportedly been hoarding on the property since the 1980s. The site has amassed an astonishing collection of clutter, from vehicles and machinery to household goods. Narrow paths on the land are surrounded by the bizarre stockpile, with suitcases, toy trucks, bath mats, mugs, ovens and curtains lining the walkways. In some places the flotsam and jetsam is head high. There are washing machines, coffee machines, solar panels, chairs, wardrobes, a Richmond Tigers scarf and a chandelier. Multiple caravans and at least two broken-down cars can be seen on the property's perimeter, bamboo grows around one of the rusted hulks. Mr Hey has been ordered from the property by VCAT, was forcibly evicted by authorities in February and asked to remove his belongings. Ms Battista said Mr Hey refused to leave. She said the pair inherited the home after their father died in late 2023, but claims her brother had already been living there, collecting junk. She said his hoarding had fractured their relationship years ago. Ms Battista said VCAT had given her possession for the purpose to sell. Neighbours said Mr Hey and his partner set up tents across the road when they were evicted, and were living there for some time. Ms Battista said she believed the pair had since moved back onto the site. 'There will be some action on this property next week when a contractor begins to remove $160,600 worth of hoarding junk,' she said. 'I just hope my late mother's ashes are not in this mess.' Mr Hey reportedly hoards at his partner's property on Kookaburra Court in Norlane, where Geelong council issued an infringement this year for noncompliance with a Fire Prevention Notice. He also owns an empty block on Warrak Drive in Bannockburn that was subject to a clean-up notice from Golden Plains Shire eight years ago Ms Battista said she felt sad for her brother and unsure why he hoarded. Place of Calm professional organiser Marion Ivermee-Villarosa said there were numerous reasons someone could develop hoarding tendencies, or diagnosed hoarding disorder, whether it be how they grew up or a traumatic experience. 'It creates a divide between family members because it's not longer about the people it's about their stuff,' she said. 'And when there's been trauma people use their things to protect themselves. 'They don't like the way they're living but they're scared.' The Geelong Advertiser's attempts to contact Mr Hey were unsuccessful. Originally published as Years of horror hoarding fills Batesford property, owner says

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