INFO BERITA TERUPDATE
Almost 100 superannuation funds have failed a performance test set by Australia’s industry regulator and which assesses earnings and fees. Members of 96 trustee-directed superannuation products will be contacted in coming weeks after their funds fell short in the expanded Your Future, Your Super performance test imposed by the Australian Prudential Regulation Authority (APRA). The…
The amount of money Aussies will need to retire to maintain their living standards has increased by as much as 8 per cent. According to the latest figures from Super Consumers Australia, an independent organisation that has partnered with CHOICE, its revised retirement targets reflect cost of living increases and higher rates of the Age…
Federal politicians are set to get their largest pay rise in a decade under a new decision by the Remuneration Tribunal. All federal representatives will get a four per cent increase to their wages, set to come into effect across the board from September 1. It is the largest increase the tribunal has decided on…
The Australian jobs which underwent the biggest advertised pay increases last year have been revealed. According to data by Seek, which analyses the growth of advertised salaries for various roles, many common jobs saw decent increases in 2023. But the highest increase in advertised pay in Australia went to those in the insurance and superannuation…
Australian Treasurer Jim Chalmers has hinted the Federal Government could introduce an electric vehicle (EV) tax in the coming years to recoup lost fuel excise revenue as people move away from petrol- and diesel-powered vehicles. At the National Press Club of Australia, Dr Chalmers spoke about the mooted tax, without giving specifics on how it…
Millions of Australian graduates have been notified that HECS/HELP debt repayment rates have risen. The threshold for the 2023-24 financial year has been raised, the Australian Taxation Office told former students in an email. Last financial year, those earning more than $48,361 had to make compulsory payments. Looking for a new job or job candidate?…
Soccer star Sam Kerr earned an eye-watering $3.3 million last year thanks to her football salary and major sports brand endorsements. The Matildas skipper, who holds Australia’s all-time goal-scoring record, captured the hearts of the nation in the 2023 FIFA Women’s World Cup after leading Australia to fourth place. Kerr was among the highest-paid players…
Cost-of-living pressures have helped supermarket giant Coles to a 4.8 per cent profit boost, but organised crime is increasingly threatening its bottom line. The company on Tuesday reported supermarket sales revenue for the last financial year grew by 6.1 per cent, with cash profit rising to $1.1 billion from $1.05 billion the previous year. Customers…
Irate shareholders who sued AMP over allegations of financial misconduct have reached a $110 million out-of-court settlement, averting the need for a lengthy hearing. On the eve of a 15-day trial in the NSW Supreme Court, AMP and the Maurice Blackburn-backed class action resolved the five-year long legal battle. “I’m pleased to announce that this…
Teeth whitening company Sparkling White Smile, which has products sold through Chemist Warehouse, has gone into liquidation. The teeth-whitening company was officially put into liquidation on Monday with Stephen Wesley Hathway from Helm Advisory appointed liquidator. Sparkling White Smile has not commented on the news, with its last social media post shared on Sunday suggesting…
Victorians have two more weeks to apply for the current $250 Power Saving Bonus payment from the state government. The new round of the payment was an election promise and was confirmed after the Andrews government’s success at the November 2022 state election. The $250 payment has been available to any household that compares their…
Australian health insurance company HCF has announced it is giving back an additional $40 million in health insurance claims savings to its members. Private health insurer HCF has already given back a total of $536 million since the start of the pandemic to its 1.8 million Australian customers as part of their pandemic-related savings support…
Many households are on the verge of abandoning their home insurance policies, as new research has found about 1.24 million Australians are facing insurance affordability stress. It comes off the back of home insurance premiums having risen 28 per cent, or $414, to $1894 in the past 12 months, being the biggest hike in two…
A South Australian builder has been placed into administration, leaving dozens of customers with unfinished home builds. Consumer and Business Services stripped 7 Star Construction of its licence earlier this month after dozens of complaints over substantial delays and the quality of work being done. The company, owned by Qamil Veseli, has 27 unfinished homes…
Cash-strapped businesses are buckling under pressure from the Australian Taxation Office and other creditors as the insolvency trickle turns into a “surge”. That’s the verdict from comparison site Insolvency Australia, which found the number of businesses going bust has risen significantly in the past year. Companies appointing administrators, liquidators and insolvency firms increased by 57…
Popular Australian protein bar company Bounce Foods has found a new buyer after the company entered voluntary administration last month. Protein fanatics were heartbroken to hear the news that on July 14 administrators were appointed to Natural High Co Pty Ltd trading as Bounce Foods. John McInerney and Philip Campbell-Wilson of Grant Thornton were appointed…
Woolworths faces more fines related to payroll errors, with Wage Inspectorate Victoria alleging the supermarket giant underpaid more than $1 million in long service leave to 1235 former employees. Wage Inspectorate Victoria on Wednesday said it had filed more than 1000 charges against Woolworths Group and its subsidiary Woolstar in the Magistrates’ Court of Victoria….
Welfare recipients are in line for a $40-a-fortnight boost with parliament passing the increase, despite calls for the rise to be higher as the nation deals with a cost of living crisis. Australians with no children on JobSeeker can expect to get about $749 a fortnight, up from just over $693, under the changes from…
Australian mortgage holders can breathe a sigh of relief with the Reserve Bank holding steady on interest rates in consecutive months for the first time in more than a year. The RBA board met on Tuesday and decided not to hike the cash rate, mirroring the July decision. WATCH THE VIDEO ABOVE: New data shows…