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Replacing stamp duty with a land tax could save home buyers big money. Here’s how

<div class="theconversation-article-body"> Infrastructure Victoria has released a <a href="https://assets.infrastructurevictoria.com.au/assets/Victorias-draft-30-year-infrastructure-strategy.pdf">draft 30-year plan </a> outlining how the state can grow sustainably. It focuses on key areas like transport, housing, energy, and public services to support a growing population and improve liveability. The plan also suggests ways to make the state’s infrastructure and tax system fairer, more efficient and more sustainable. The plan’s recommendations are expected to cost between A$60 billion and $75 billion, mostly spent before 2035. This is around 10% of <a href="https://www.abs.gov.au/statistics/economy/national-accounts/australian-national-accounts-state-accounts/2023-24-financial-year#data-downloads">Victoria’s yearly economic output</a> in 2023-24, spread over the next decade. With Victoria already spending record amounts on infrastructure, and <a href="https://pbo.vic.gov.au/document/BudgetUpdateSnapshot2024-25">budget deficits forecast</a> until 2025-26, finding the money to fund social housing, transport and other projects is a key challenge. We estimate the Infrastructure Victoria proposals would add between $4 billion and $5 billion to Victorian government expenditure each year. Yet one of its proposals — replacing stamp duty with an annual land tax — would only cost between $1 million and $5 million to implement, but generate substantial gains for Victorian households. <h2>Why replace stamp duty with land tax?</h2> Stamp duty is one of the biggest barriers to moving house in Victoria and other Australian states. This tax, which people pay when they buy property, adds thousands of dollars to the cost of moving. In 2022-23, Victorians paid about <a href="https://www.abs.gov.au/statistics/economy/national-accounts/australian-national-accounts-state-accounts/2023-24-financial-year#data-downloads">$12 billion</a> to move house. Of this, $3 billion went to actual moving costs (like real estate services, and removalists) and $9 billion was <a href="https://www.abs.gov.au/statistics/economy/government/taxation-revenue-australia/latest-release#data-downloads">stamp duty</a>. That’s an effective tax rate of 300% on the true cost of moving, and in 2023 <a href="https://www.e-business.sro.vic.gov.au/calculators/land-transfer-duty">added about</a> $40,000, or 5.3%, to the cost of purchasing the average Victorian home. High stamp duty discourages people from relocating, even when their needs change — whether that’s moving for a new job, finding a bigger home for a growing family or downsizing after retirement. This leads to longer commutes, traffic congestion and a less efficient housing market. Switching from stamp duty to an annual land tax would make moving easier and spread the tax burden more fairly. Instead of a large, one-time tax when buying a home, all landowners would pay a smaller tax each year. This would help fund schools, hospitals, and other infrastructure more sustainably. <h2>What can we learn from Canberra?</h2> Victoria University’s Centre of Policy Studies <a href="https://www.treasury.act.gov.au/__data/assets/pdf_file/0009/1618407/cops-final-report.pdf">studied a similar reform</a> in the Australian Capital Territory, where stamp duty has been gradually phased out since 2012 and replaced with higher general rates (a type of land tax). Each year, the ACT government sets a target for how much money it needs to raise. Landowners then pay a share of that total, based on the value of their land. One of the biggest benefits of this approach is that it raises money more efficiently. Unlike other taxes, land taxes don’t discourage investment or economic activity. The study found removing stamp duty had a big positive impact on the ACT’s economy. Around 80% of the economic boost came from removing stamp duty, while introducing land tax also had benefits. By studying transaction data from the ACT, we showed each 10% reduction stamp duty rates drove a 6% rise in property transactions. <h2>Would it help housing affordability?</h2> One of the main arguments for replacing stamp duty with land tax is its effect on housing prices. Economists widely agree land taxes reduce land values, which makes housing more affordable. However, the impact of removing stamp duty is less predictable. Our previous research found <a href="https://theconversation.com/swapping-stamp-duty-for-land-tax-would-push-down-house-prices-but-push-up-apartment-prices-new-modelling-finds-184381">the effect on house prices</a> depends on how often properties are bought and sold. Apartments, for example, tend to change hands more frequently than houses. Because of this, removing stamp duty tends to push up apartment prices more than house prices. Even so, the overall effect of the reform is a drop in property prices. The challenge is ensuring this price reduction is evenly spread across different types of housing. <h2>A fairer tax system</h2> To make the system fairer, policymakers could adjust how land tax is applied. One option is to introduce a fixed-rate component, as <a href="https://www.revenue.nsw.gov.au/grants-schemes/previous-schemes/first-home-buyer-choice">proposed </a> in New South Wales. Another idea, suggested 15 years ago in the <a href="https://treasury.gov.au/sites/default/files/2019-10/afts_final_report_part_1_consolidated.pdf">Henry Tax Review</a>, is to base the tax on the per-square-metre value of land. Another key factor is housing supply. If planning laws allow more high-density housing in inner suburbs, price changes could be better managed. <h2>We also need short-term solutions</h2> Replacing stamp duty with land tax is a long-term reform that would take years to fully implement. The ACT, for example, planned a 20-year transition. If all state governments implemented this reform, we estimate Australian households would ultimately be <a href="https://www.copsmodels.com/ftp/workpapr/g-337.pdf">better off by about</a> $,1600 per household per year. In the short term, <a href="https://theconversation.com/whats-the-best-way-to-ease-rents-and-improve-housing-affordability-we-modelled-4-of-the-governments-biggest-programs-225446">other policies </a> could help improve housing affordability. These include increasing Commonwealth Rent Assistance and rethinking first-home buyer support. These steps could complement broader tax, infrastructure and housing supply reforms. The Victorian government is <a href="https://engage.vic.gov.au/victorias30yearinfrastructurestrategy">seeking feedback</a> on the draft plan before releasing the final version later this year. This is an opportunity for Victorians to contribute ideas on how to shape the state’s future and ensure its infrastructure and tax system work for everyone.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/251472/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/jason-nassios-318488">Jason Nassios</a>, Associate Professor, Centre of Policy Studies, <a href="https://theconversation.com/institutions/victoria-university-1175">Victoria University</a> and <a href="https://theconversation.com/profiles/james-giesecke-9853">James Giesecke</a>, Professor, Centre of Policy Studies and the Impact Project, <a href="https://theconversation.com/institutions/victoria-university-1175">Victoria University</a> This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/replacing-stamp-duty-with-a-land-tax-could-save-home-buyers-big-money-heres-how-251472">original article</a>. Image: 7news.com.au </div>

Money & Banking

A late start, then a big boom: why it took until 1975 for Australians to finally watch TV in colour

<div class="theconversation-article-body"> Some 50 years ago, on March 1 1975, Australian television stations officially moved to colour. Networks celebrated the day, known as “<a href="https://artsandculture.google.com/story/c-day-and-the-colour-monster-national-archives-of-australia/LAWRcgnnNY1cKA?hl=en">C-Day</a>”, with unique slogans such as “come to colour” (ABC TV), “Seven colours your world” (Seven Network), “living colour” (Nine Network) and “first in colour” (<a href="https://televisionau.com/feature-articles/network-ten">0-10 Network</a>, which later became Network Ten). The ABC, Seven and Nine networks also updated their logos to incorporate colour. <figure><iframe src="https://www.youtube.com/embed/T7gZdYVZJNc?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe></figure> For most viewers, however, nothing looked much different. The majority owned a black and white TV, while a coloured broadcast required a colour TV set. Advertisers were initially reluctant to accept the change, which required them to re-shoot black and white commercials with colour stock at a significantly higher cost. Many reasoned viewers were still watching the ads in black and white. And initially this assumption was correct. But by nine months later, 17% of Australian homes <a href="https://trove.nla.gov.au/newspaper/article/110829595?searchTerm=colour%20television%20in%20australia%201975">had a colour receiver</a>. This rose to 31% by July 1976. By 1978, 64% of Melbourne and 70% of Sydney households owned colour TV sets, making Australia one of the world’s fastest adopters of colour TV. According to the Federation of Australian Commercial Television Stations (FACTS) annual report for 1975–76, colour TV increased overall viewership by 5%, with people watching for longer periods. The 1976 Montreal Olympics also led to an <a href="https://www.nfsa.gov.au/collection/curated/asset/96836-olympic-games-coverage-colour">increase in TV sales</a>, with the colour broadcast shared between the ABC, Seven and Nine. <figure><iframe src="https://www.youtube.com/embed/L-75iIoshak?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption>Highlights from the Montreal 1976 Olympic Games marathon event.</figcaption></figure> <h2>A late start</h2> With the United States introducing colour TV from 1954, it’s peculiar that Australia took so long to make the transition – especially since conversations about this had been underway since the 1960s. In 1965, a report outlining the process and economic considerations of transitioning to colour was tabled in parliament. Feedback from the US highlighted problems around broader acceptance in the marketplace. Colour TV sets were expensive and most programs were still being shot in black and white, despite the availability of colour. Networks were the most hesitant (even though they’d go on to become one of the most major benefactors). In 1969, it was <a href="https://australianfoodtimeline.com.au/colour-tv-introduced/">estimated transitioning to colour</a> would cost the ABC A$46 million (the equivalent of $265,709,944 today) over six years. The federal government, led by then prime minister Robert Menzies, decided to take a cautious approach to the transition – allowing manufacturers, broadcasters and the public time to prepare. The first colour “test” broadcast took place on June 15 1967, with <a href="https://televisionau.com/2025/03/tv-50-years-in-colour.html">live coverage</a> of a Pakenham country horse racing event in Victoria (although few people would have had coloured TV sets at this point). Other TV shows also tested broadcasting in colour between 1972 and 1974, with limited colour telecasts aired from mid-1974. It wasn’t until March 1975 that colour TV was being transmitted permanently. <figure><iframe src="https://www.youtube.com/embed/vIqqiK4ncfs?wmode=transparent&start=40" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption>‘Aunty Jack Introduces Colour’ was a one-off television special of The Aunty Jack Show, broadcast on the ABC on February 28 1975.</figcaption></figure> <h2>The cinema industry panics</h2> <a href="https://anzacportal.dva.gov.au/wars-and-missions/vietnam-war-1962-1975/events/withdrawal-from-1971">Australia’s involvement</a> in the Vietnam War created further urgency to televise in colour. With the war ending in April 1975, Australians watched the last moments in colour. Other significant events broadcast in colour that year included the December federal election, in which Malcolm Fraser defeated Gough Whitlam after the latter was <a href="https://www.youtube.com/watch?v=SXq056TJhU4">dramatically dismissed</a> as prime minister on November 11. With the public’s growing interest in colour TV, local manufacturers began lobbying for higher tariffs on imports to encourage domestic colour TV production. In the mid 1970s, a new colour set in Australia cost between $1,000 and $1,300, while the average full-time annual income was <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/6302.0Main+Features1Sep%201975?OpenDocument=">around $8,000</a>. Still in the throes of a financial recession, customers began seeking out illegally-imported colour TV sets – which were appearing at car boot markets across the country. <figure><iframe src="https://www.youtube.com/embed/wTKMqPg4hM8?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption>British childrens show The Wombles came to Australian screens shortly after colour TV was introduced.</figcaption></figure> The government also created an advertising campaign warning the public of scammers who would offer to convert black-and-white TVs to colour. These door-to-door “salesmen” <a href="https://hoaxes.org/archive/permalink/instant_color_tv#google_vignette">claimed to have</a> a special screen which, when placed over a TV, would magically turn it colourful. By 1972, the estimated cost of upgrading broadcasting technology to colour <a href="https://www.nfsa.gov.au/latest/colour-tv-part-1">had reached $116 million</a>. The cinema industry, in a panic, even questioned whether colour TV could damage a viewer’s eyesight. The industry had previously suffered huge losses in cinema attendance with the introduction of black-and-white TV from 1956. Cinemas had a monopoly on colour and were petrified over what the introduction of colour to television could do to their attendances. Such fears were founded. In 1974 Australia had 68 million admissions to the cinema. By 1976, there were just 28.9 million admissions. Never again would yearly cinema admissions reach <a href="https://www.screenaustralia.gov.au/fact-finders/cinema/industry-trends/historical-admissions">above 40 million</a>. But despite the complaints – from the cinema industry, advertisers, broadcasters and manufacturers – audiences were ready for colour. And any network that dared to program in black and white would subject itself to a barrage of annoyed viewers. Colour TV was here to stay.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/251363/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/stephen-gaunson-265553">Stephen Gaunson</a>, Associate Professor in Cinema Studies, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a> This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/a-late-start-then-a-big-boom-why-it-took-until-1975-for-australians-to-finally-watch-tv-in-colour-251363">original article</a>. Image: Youtube/Austvarchive </div>

Stranded NASA astronauts close in on their return to Earth

Two NASA astronauts are just weeks away from their much-anticipated return to Earth after a gruelling nine months <a href="https://oversixty.com.au/travel/travel-trouble/nasa-astronauts-stranded-in-space" target="_blank" rel="noopener">stuck</a> on the International Space Station. Butch Wilmore and Suni Williams are waiting for their replacements to arrive at the ISS before they can depart later this month. They'll be joined on their SpaceX ride home by two astronauts who launched by themselves last September alongside two empty seats. During a news conference on Tuesday, Wilmore said that while politics is part of life, it did not play into his and Williams' return, moved up a couple weeks thanks to a change in SpaceX capsules. US President Donald Trump and SpaceX's Elon Musk said at the end of January that they wanted to accelerate the astronauts' return, blaming the Biden administration for their unfortunate situation. Williams said she can't wait to be reunited with her labrador retrievers, sharing that the hardest part about the unexpected extended stay was the wait by their families back home. <div> <div>"It's been a roller coaster for them, probably a little bit more so than for us," she said. "We're here. We have a mission. We're just just doing what we do every day, and every day is interesting because we're up in space and it's a lot of fun."</div> </div> <div> <div> The astronauts first encountered technical issues with Boeing’s Starliner spacecraft days after departing for their eight-day trip in June. The trip Mr Wilmore, 61, and Ms Williams, 58, were on was designed to see how the new spacecraft performs before it is used more regularly. However, problems emerged as it made its approach to the ISS, including leaks in its propulsion system and some of its thrusters shutting down. Image credits: NASA </div> </div>

Travel Trouble

Incredible footage emerges of plane crashing and flipping upside down

Terrified passengers have recalled the moment they were left "hanging upside down like bats" after a plane crashed and flipped during an icy landing. The Delta Airlines plane was landing at Toronto Pearson Airport during snowy conditions, when the plane touched down and immediately caught fire. Skidding along the runway, the plane then flipped upside down with 80 people onboard before coming to a halt. Video obtained by CNN shows the plane landing hard on the runway, with the plane's rear landing gear buckling upon impact with the snow and erupting into a fireball. <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-permalink="https://www.instagram.com/reel/DGN-pIIOR-G/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/reel/DGN-pIIOR-G/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by CNN (@cnn)</a> </div> </blockquote> According to passengers John Nelson and Peter Koukov, the rollover left travellers hanging aloft until they could be freed. "We were upside down hanging like bats," Koukov said. The man was able to unbuckle himself and stand upright on the ceiling of the plane, but some people needed help getting down from their seats. Officials said on Monday 21 people were taken to hospitals with injuries, including a child in good condition. All but two of them had been released from hospital on Tuesday morning. US man Pete Carlson was on board and told CBC News that it was "really amazing" he and his fellow passengers were alive. "Everything just kind of went sideways," Carlson recalled. "One minute you're landing, kind of waiting to see your friends and your people, and the next minute you're physically upside down." Koukov, a professional skier from Colorado, told the New York Times that the flight was completely normal up until the final descent. "The second that the wheels hit the ground, then everything happened," he said. "The next thing I know, we're sideways." "We ended up completely upside-down. I unbuckled pretty fast and kind of lowered myself to the floor, which was the ceiling. People were panicking." Image credits: Instagram

Travel Trouble

Polish woman doubles down on Maddie McCann claims

Polish woman Julia Wandelt has doubled down on her belief that she is Madeleine McCann, claiming to have new DNA evidence that "strongly supports" her theory. Wandelt has long claimed to be the missing child, after first posting her theories on Instagram in February 2023. A DNA test at the time found Ms Wandelt to be of Polish, Lithuanian and Romanian heritage, proving she could not be Madeleine, who is of British descent. She went on to tell the <a title="www.bbc.com" href="https://www.bbc.com/news/technology-68139294" target="_blank" rel="noopener">BBC</a> in an interview last year that she “regretted” the ordeal, and had apologised to the McCanns for any pain she’d caused unintentionally by claiming to be their child who went missing in Portugal in 2007. After disappearing from the public eye, Wandelt has resurfaced online to share the “results” of a fresh DNA test she claimed were submitted to a “world expert”, who compared them to the crime scene following Madeleine’s disappearance. She also claimed they matched the toddler’s eyes, teeth and voice with her own. In a series of posts in which she referred to Kate and Gerry McCann has “my parents”, Ms Wandelt said her “actual dna results show that I am part British, part Irish” and that genetic evidence “strongly supports that Gerry McCann could be Julia Wandelt’s biological father”. Ms Wandelt’s “source” claimed her DNA results were a “perfect match” to the samples taken from the scene of Madeleine’s disappearance. The unnamed source allegedly analysed “hair obtained from the floor of the crime scene in Portugal” and “saliva obtained from the bed quilt at the scene”, resulting in a 69.23 per cent match which “suggests a biological connection between the two individuals”. “The genetic evidence strongly supports that (Gerry) McCann could be Julia Wandelt’s biological father, as the data aligns perfectly with a parent-child relationship,” they claimed. “If this analysis is accurate and properly derived from their DNA samples, the relationship between McCann and Julia Wandelt is biologically consistent with that of a father and daughter.” A spokesperson for Ms Wandelt told <a title="www.dailymail.co.uk" href="https://www.dailymail.co.uk/news/article-14405073/Woman-claiming-Madeleine-McCann-releases-bombshell-new-DNA-test-results-18-years-British-toddler-disappeared-Portugal.html" target="_blank" rel="noopener">The Daily Mail</a> she remains determined for the McCanns and her Polish parents to take a DNA test, despite both parties’ repeated refusal to do so. Image credits: Instagram / Getty Images

Legal

NSW Health workers stood down over anti-semitic remarks

Two NSW Health workers have been stood down from Bankstown Hospital amid allegations of the pair making anti-semitic remarks online. Footage has emerged of the duo talking to Jewish influencer Max Veifer during a livestream, and making anti-semitic remarks after learning that Veifer was from Israel. One of the nurses, a woman, allegedly said that if patients from Israel came to the hospital, she would not treat them. "I won't treat them, I'll kill them," she said. The other nurse, a man, claimed that he had killed Israeli patients. NSW Health Minister Ryan Park said two nurses had been "stood down immediately". "Obviously, the investigative process now takes place, I do not want to leave a sliver of light to allow any of them to be able to think they will ever work for NSW Health again." "Everyone is entitled to access NSW health and hospital services without fearing for their life, and without having that hate-filled attitude come through some of our health workers," he said. "This video is disgusting. It is shocking. It is appalling." Park also confirmed that the pair have been identified, with investigations currently underway. The NSW Health Minister also issued an apology to the Jewish community. "To the Jewish community today, I say not only am I sorry, but I can assure you this - the care that you get in our hospitals will continue to be first class, we will investigate this uphill and down dale," Park said. "We won't just be looking at this incident per se, and going through previous cases to make sure that that hospital has been working in a way that reflects those values around safety and care." NSW Police confirmed it was investigating the video, with Strike Force Pearl, the police task force targeting anti-semitic violence and vandalism, taking carriage of the investigation. "NSW Health believe they have identified the individuals involved and are currently assisting detectives with their investigation," they said. Image: Nine

Legal

Big banks finally cut fixed-interest mortgage rates

NAB has become the first big bank to announce it has cut its fixed rate mortgages across all loan terms. The bank is the first of the big four banks to cut its fixed rates in 2025, two weeks out from the Reserve Bank of Australia’s first meeting when it is tipped to cut the cash rate. NAB announced on Monday that their lowest fixed rate is now 5.84 per cent, with a deposit of at least 20 per cent on a three-year term. “NAB is the first of the big four banks to cut fixed rates in 2025, with other banks likely to follow,” Canstar data insights director Sally Tindall said. “The cost of wholesale fixed rate funding has started to ease slightly. This, combined with a prospective cash rate cut, should push other banks into moving on fixed rates.” The cuts from NAB come almost two weeks after Macquarie Bank lowered its fixed rates, however, ANZ still has the lowest fixed rate out of the big four banks at 5.74 per cent for a two-year or three-year term. “While a few banks are now starting to sharpen their offerings, fixed rates still have a way to fall before they become fashionable again with borrowers,” Tindall said. “We expect the big four banks in particular to pass on cash rate cuts in full, at least for the first couple of cash rate cuts,” she said. “But we might even see some banks choose to pass on even more to new customers in order to take advantage of that re-engagement for borrowers in what a competitive rate looks like.” “Many homeowners have been waiting for well over a year for a cash rate cut. It’s hard to see them throwing in the towel and switching to a fixed rate now when the RBA is poised to move." “That said, there’s no guarantee we’ll see a barrage of cash rate cuts and borrowers should factor this into their thinking.” Image credits: Shutterstock <p class="mb-4 font-serif text-article-body" style="font-family: var(--font-google-newsreader),serif; box-sizing: border-box; border: 0px solid; margin: 0px 0px 24px; font-size: 1.2275rem; line-height: 26.514px; caret-color: #2a2a2a; color: #2a2a2a;">

Money & Banking

From the Big Bogan to Larry the Lobster, why do towns build Big Things?

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/amy-clarke-248726">Amy Clarke</a>, <a href="https://theconversation.com/institutions/university-of-the-sunshine-coast-1068">University of the Sunshine Coast</a> Big Things first appeared in Australia in the 1960s, beginning with the <a href="https://sahistoryhub.history.sa.gov.au/things/big-scotsman/">Big Scotsman</a> (1962) in Medindie, South Australia, the <a href="https://bigbanana.com">Big Banana</a> (1964) in Coffs Harbour, New South Wales, and the <a href="https://www.visitnsw.com/destinations/country-nsw/the-murray/tocumwal/attractions/big-murray-cod">Big Murray Cod</a> (1968) in Tocumwal, NSW. These structures were inspired by earlier North American examples, such as <a href="https://lucytheelephant.org">Lucy the Elephant</a> (1882) in New Jersey, and several <a href="https://www.laconservancy.org/learn/historic-places/randys-donuts/">big doughnuts in California</a>. While they differed in subject matter, all aimed to attract the attention of passing motorists: in the 1950s–1960s, private car ownership had soared and highway construction spread. Towns and regions across Australia, <a href="https://ourwayoflife.co.nz/11-iconic-big-thing-statues-around-new-zealand/">New Zealand</a> and North America used oversized landmarks to get travellers to stop, take a photo and hopefully spend money at local businesses. As awareness of these giant landmarks grew, so did the desire of other communities to have their own. Within a few decades, Australia’s Big Things had become a beloved fixture of road trips and summer holidays. <h2>A big cultural impact</h2> <a href="https://www.tandfonline.com/doi/full/10.1080/14443058.2022.2144928">My research</a> shows the number of Big Things being constructed in Australia hit an initial peak in the 1980s before experiencing a temporary decline. By the 2000s, however, towns as far afield as Tully in Queensland (<a href="https://www.australiantraveller.com/qld/big-gumboot/">Big Golden Gumboot</a>), Cressy in Tasmania (<a href="https://www.aussietowns.com.au/town/cressy-tas">Big Trout</a>), and Exmouth in Western Australia (<a href="https://www.exmouth.wa.gov.au/news/exmouths-iconic-and-much-loved-crustacean-is-back/358">Big Prawn</a>) were reviving the tradition. Soon, Big Things became firmly entrenched in Australian popular culture: featuring on limited edition <a href="https://www.couriermail.com.au/news/queensland/sunshine-coast/redheads-pay-homage-to-icons/news-story/219026f222830073f4db107759e1145c">Redheads matchboxes</a> (2010), and on sets of <a href="https://australiapostcollectables.com.au/stamp-issues/aussie-big-things">Australia Post stamps </a>(2007 and 2023). But some of the older structures experienced declining popularity: the Big Wool Bales in Hamilton, Victoria (closed 2020), Victoria’s Giant Gippsland Earth Worm in Bass (closed 2020) and the Big Cask Wine in Mourquong, NSW (closed 2012), survive only in holiday photos and people’s memories. Icons like Larry the Lobster (Kingston, SA), the Big Prawn (Ballina, NSW), and the Big Pineapple (Nambour, Queensland) have battled <a href="https://www.nytimes.com/2018/08/30/world/australia/larry-lobster-big-things-sale.html">changes in ownership</a>, <a href="https://www.abc.net.au/news/2009-09-24/council-votes-to-sink-big-prawn/1441452">threat of demolition</a>, and <a href="https://www.theguardian.com/australia-news/article/2024/aug/24/big-pineapple-reopen-queensland-woombye-history">closure</a>. Despite these challenges, and debates over heritage conservation, construction of these giant landmarks has not slowed. <a href="https://www.visitnsw.com/destinations/outback-nsw/cobar-area/nyngan/attractions/big-bogan">The Big Bogan</a> was erected in 2015 in Nyngan, NSW, by community members who were eager to encourage visitors to the area. A local progress association in the small town of Thallon in Queensland unveiled William the <a href="https://www.stgeorgeregion.com.au/listing/william-the-wombat/">Big Wombat</a> in 2018, also with the aim to bring attention to the area. Similar hopes were held for the <a href="https://www.queensland.com/au/en/things-to-do/attractions/p-5f72991d4390bc7c02ab8547-the-big-melon">Big Watermelon</a> erected in 2018 (Chinchilla, Queensland), and the Big Tractor (Carnamah, WA) <a href="https://www.abc.net.au/news/2024-10-05/midwest-wa-town-carnamah-unveils-worlds-biggest-tractor/104388496">which opened this year</a>. Through my research, I spoke with many people involved with projects such as these, and they said they’d selected objects that were iconic to their area. This could be a product they specialise in, a local native animal, or, in the case of the Big Bogan, a joke based on the name of nearby Bogan River. Most builders openly acknowledge their primary motivation is to promote the region, attract tourist dollars and investment, and revive towns that have seen better days. But do Big Things actually achieve these goals? Unfortunately, there is no easy answer. <h2>An economic return?</h2> Local economies are complex, as are the reasons people choose to visit. Many Big Things are constructed on the sides of highways that connect Australia’s numerous regional towns. People who stop for photos may not set out with the goal of visiting that Big Thing – it may simply be convenient to take a break there while on the way somewhere else. And if people do stop, it doesn’t guarantee they will spend more than the cost of filling up their car with petrol, if that. Over the years, tourism researchers have developed <a href="https://www.sciencedirect.com/science/article/abs/pii/S1447677021000322">several different models </a>for calculating the impact of rural and regional tourism on local economies. However, none of these approaches has proven to be universally effective. Most scholars agree tourists aren’t likely to travel long distances <a href="https://www.tandfonline.com/doi/abs/10.1080/21568316.2019.1673811">for any one reason</a>. They will consider a range of factors including food and accommodation, and the closeness of numerous attractions. In other words: building a Big Thing won’t guarantee a sustained increase in tourism to the area on its own. Communities should factor this in when considering erection of a Big Thing, especially given the cost of construction. The Big Mango in Bowen <a href="http://www.atlasobscura.com/places/the-big-mango">reportedly cost $A90,000</a> when it was built in 2002, while the organisers of the Big Tractor in Carnamah <a href="https://www.abc.net.au/news/2024-10-05/midwest-wa-town-carnamah-unveils-worlds-biggest-tractor/104388496">raised more than $600,000</a> to cover its price tag. The spread of social media and easy access to media outlets via the internet offers communities another reason to build Big Things, however. Australians are not the only ones fascinated by Big Things, and when a new one is unveiled — or an existing one goes “missing”, as <a href="https://www.bbc.com/news/newsbeat-26324023">the Big Mango did in 2014</a> — it is often covered by the press and then shared online. These giant landmarks are also highly “Instagrammable”: <a href="https://www.dailymail.co.uk/news/article-3039474/The-20-hottest-Australian-attractions-Instagram-revealed-spectacular-Sydney-Opera-House-Twelve-Apostles-don-t-forget-Big-Banana.html">a 2015 survey</a> revealed that six of Australia’s 20 most Instagrammed tourist attractions were Big Things. This sort of coverage doesn’t necessarily guarantee the long-term revival of a town’s economy. But it can help to remind people of the town’s existence, and it gives locals a memorable image on which to build.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/241129/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/amy-clarke-248726">Amy Clarke</a>, Senior Lecturer in History, specialising in built heritage and material culture, <a href="https://theconversation.com/institutions/university-of-the-sunshine-coast-1068">University of the Sunshine Coast</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/from-the-big-bogan-to-larry-the-lobster-why-do-towns-build-big-things-241129">original article</a>. </div>

Domestic Travel

"We'll miss him terribly": Alex Cullen steps down from Today

Alex Cullen is "stepping down permanently" from Today after accepting a huge cash prize from billionaire Adrian Portelli. After Cullen referred to Portelli as "McLaren Man" on the Channel Nine morning show and pocketed $50,000 for using Portelli's preferred moniker, Cullen disappeared from screens for several days for breaching the Media Entertainment and Arts Alliance (MEAA) Journalist Code of Ethics. Despite handing the money back, which has since been <a href="https://oversixty.com.au/finance/money-banking/billionaire-adrian-portelli-responds-to-50k-mclaren-man-controversy" target="_blank" rel="noopener">donated to charity</a>, Karl Stefanovic and Sarah Abo confirmed on Friday morning that Cullen would not be retuning to the show. “As most of you are well aware, our colleague Alex Cullen has not been on air with us this past week,” Stefanovic said. “There has been widespread reporting on the circumstances surrounding this, what I can say is that last night, Alex and Nine agreed that he would finish with the network." “Alex has, of course, been part of the Today family for five years now, he’s always ready with a smile and a laugh and without hesitation speaking for all of us here, we can say that we are going to miss him terribly, that’s for sure." “Alex is a terrific fella, what you see is what you get and he has been a great mate to all of us over these years and we wish Alex, his wife Bonnie and his beautiful kids all the very best for the future.” The scandal began when Portelli put a call out on social media, challenging journalists to refer to him publicly as "McLaren Man" instead of his common nickname "Lambo Guy", which he earned after showing up to The Block auctions in a bright yellow Lamborghini. Portelli said whoever completed the challenge would earn a hefty cash prize, and after Cullen used the new nickname live on Today just hours later, Portelli shared a screenshot of a bank transfer to Cullen for a whopping $50,000. Image credits: Today

Big change for new buses after Hunter Valley crash

Australian buses and coaches fitted with seatbelts will soon be required to have announcements reminding people to buckle up, following the tragic Hunter Valley bus crash that killed 10 people almost two years ago. On Tuesday, the federal government announced that the new rule will require these vehicles to include visual and audio alerts reminding passengers to buckle up, similar to those on airplanes. “Travelling by bus is one of the safest forms of transport in Australia, and these new audible and visual signage requirements will ensure this continues to be the case,” federal assistant Regional Development Minister Anthony Chisholm said. The government also announced it had closed a loophole where some buses with seats under 1m high were exempted from requiring seatbelts. Under the regulations, all new bus and coach models must comply by November 1, 2026, while existing models will need to make the changes by November 1, 2027. “These safety outcomes further improve what is generally regarded as the most stringent seatbelt rules for buses in the world,” Bus industry confederation chair Tony Hopkins said. “With seat belt usage currently as low as 7 per cent on some services, this provides a simple but powerful message that reminds bus passengers to fasten a seat belt. “After all, if a seat belt is provided in a bus it must be worn by law.” Image: Mino Surkala / Shutterstock.com

Domestic Travel

Olympic champion breaks down over drug scandal

Olympic swimming champion Shayna Jack has broken down over the drug scandal that almost ended her career in 2019. After entering the jungle as one of this year's I'm A Celebrity... Get Me Out of Here! cast mates, Paris Olympics gold medallist Jack opened up about the 24-month ban she copped from her sport in 2019. She was banned for competing for two long years, for an anti-doping rule violation relating to her unintentional use of the anabolic agent Ligandrol. Jack then spent months embroiled in a case to prove her innocence in which she spent over $180,000, with the case putting her under intense emotional and financial strain. Jack broke down as she revealed to her campmates that her longtime partner, Kookaburras hockey player Joel Rintala, was scared to leave her at home alone for fear she might hurt herself. “Some nights I was in a bad place. He said those nights were the most fearful. He said he’d speed home because he just didn’t know if he was going to walk home into something that he wasn’t able to cope with. [If] I’d done something that I would eternally regret,” she said. Speaking directly to camera in the jungle's confessional, Jack went on to explain why she chose to share the story with her fellow cast members. “It’s using the people around me to continue to open up about it and face those difficulties and stop giving it so much power,” she said of the scandal. “I feel like the more I take it off my chest and take it off my heart, the more I can try to move forward with my life and not feel this huge aspect of my life pulling me back." Image credits: Ten

Legal

Nine reporter stood down over controversial $50k gift

Today show presenter Alex Cullen has been stood down after accepting a huge cash prize from The Block billionaire Adrian Portelli. Portelli, known for his attention-grabbing <a href="https://www.oversixty.com.au/finance/money-banking/the-block-billionaire-s-generous-christmas-stunt" target="_blank" rel="noopener">antics</a>, recently announced that he was sick of his nickname "Lambo guy", which had stuck after turned up to a 2022 auction of The Block in a yellow Lamborghini. The billionaire put a call out to the media saying that he would give $50,000 to the first journalist or presenter to publicly call him by his new preferred nickname "McLaren Man." Cullen dropped the nickname on-air during a Today show cross from the Australian Open on Friday morning, even sharing footage of the moment on his Instagram account afterwards, tagging Portelli in the post. “We have a winner! Well played sir,” Portelli wrote in an Instagram story, sharing a screenshot of a bank transfer. Cullen's employer, Channel Nine, said that the presenter had agreed to step down on Saturday while the network looked into the payment. “Nine is taking this matter extremely seriously,” a Nine spokesperson told news.com.au. “Appropriate action has been promptly taken, including arranging for the funds to be returned. “While we review the circumstances in which this occurred, Alex has agreed to stand down.” Accepting cash, gifts or benefits to undermine journalistic independence, and inappropriately using a journalistic position for personal gain, are both breaches to the Media Entertainment and Arts Alliance (MEAA) Journalist Code of Ethics. It was created by journalists in 1944 to promote basic values for the Australian media industry. As news of the controversy spread, Portelli took to Instagram to speak out against journalists who still refer to him as "Lambo guy". “I wanted to show the media that I do have a large platform as well, and I’m not afraid to use it. Maybe be a bit more respectful, and I’ll respect you guys as well,” he said in a video posted on Saturday night. Image: Nine/ Instagram

Legal

Council cracks down on odd beach trend

A local council on the NSW South Coast has had to put a stop to the latest bizarre measure people have been taking to reserve a spot at the beach. Signs have been raised along Cliff Road in North Wollongong to not use glad wrap to secure public gazebos. "This is a shared public space," the sign read. "The use of cling wrap or any material to enclose picnic shelters is prohibited." Lord Mayor of Wollongong Tania Brown told Today that "it is crazy" council had to even take this kind of action, following the rise in incidents where people were cling-wrapping cabanas and picnic benches at local parks and beaches. "It doesn't happen very often, but it's certainly around those peak days of Christmas, New Year's Eve and we've got Australia Day coming up, so we've seen it starting to increase," Brown said. "So that's why we put signs up as preventative measures to remind people that this is prohibited, that our beach huts are there in public spaces for the benefit of all in our community and they cannot be reserved." Brown said that the signs were put in place so people can come and enjoy what Wollongong has to offer, including 17 of the state's best patrolled beaches. "We've just got to make sure that everybody shares that public space in a courteous and respectful manner," she said. Image: Facebook

Travel Trouble

"I’m saying that hands down": Matt Shirvo's bold prediction

Matt Shirvington has made an enormous call about the future career of 16-year-old sprinter known as Gout Gout, saying he could be one of Australia's greatest athletes. The Brisbane teenager shot to <a href="https://oversixty.com.au/lifestyle/family-pets/i-don-t-want-my-son-to-be-called-a-disease-name-gout-gout-s-dad-weighs-in" target="_blank" rel="noopener">fame</a> over the weekend after blitzing the 200m track record, completing the race in just 20.04 seconds. The Sunrise host and former Olympic runner heaped praise on the lightning-fast teen, claiming “he will be the greatest athlete we have ever produced in this country”. “This kid, just on the fact that he is such an amazing athlete, the most coveted record in (Australian) sprinting was Peter Norman’s 1968 200m record that he did in that iconic race, of course that Black Power race in Mexico City,” Shirvington began on Channel 7’s Sunrise. “The fact he has come out as a 16-year-old — he is not 17 until the 29th of December — is a phenomenal thing." “The other thing, he ran a windy 10.04 — that’s the fifth fastest in all conditions by an Australian. He will be the greatest athlete we have ever produced in this country. I’m saying that hands down.” Shirvo's Sunrise co-hosts were taken aback by his claims, but his praise didn't stop there, as he even predicted he could be one of the greatest athletes in the world in years to come. “A lot of people are comparing Gout to the GOAT, which is Usain Bolt, of course,” Shirvington said. “I think he’s got more to produce the goods." “And I sat down with a British coach who has trained some of the best 400m runners in the world ever and he reckons over the 400 he could very well be the world record holder too. “Who knows, 100, 200, 400 — he may make it happen. In terms of the 100, breaking the 10 second barrier, it will not only be a blip on his radar, he will do it 100 times and it won’t even be a barrier for him.” “He’s so young, so talented, he has a great team around him, his coach Di Shepherd, his manager James Templeton, his parents are just beautiful people,” Shirvington continued. “He is one of 7 siblings, he’s got a great story. And heading into 2032, there is going to be a huge support for him. He has the world at his feet." “He’s going to train with Noah Lyles in January — of course Noah Lyles the Olympic champion. He’s going to be brilliant. For me, greatness is destined for Gout Gout.” Image credits: X / Sunrise

Eight-year-old cancer survivor pushed down stairs at NFL game

Mia DeCamilla, an eight-year-old 49ers fan and cancer survivor was beyond excited to attend her first ever NFL game on Sunday. DeCamilla inherited her love for the team from her father, saying: “Me and my dad, [when I’m] in the hospital, we’ll watch football together, and then when I come home sometimes for breaks, I will sit down and just relax and watch football all day. That’s what I like and how I made my team.” The young girl - who battled and beat liver cancer twice - attended the event at the Highmark Stadium in New York Decked in 49ers red and a hand-drawn sign that read “I beat cancer! My first NFL game!” What should've been a night to remember turned into a nightmare situation when DeCamilla was shoved out of her seat and down the stairs by an allegedly drunk Bills fan, following the team's win. Her father, Mike DeCamilla told local news outlet WIVB that he saw the fan making his approach and heard him saying “‘I’m going to push through all these Niner fans'." “He actually bumped me and my son a little bit and then got past me and pushed her. [She] almost slid off the stairs… “He had to be six foot, and she is less than 100 pounds … I know that there’s competitiveness and whatnot, but there’s a point where it’s a family event.” While DeCamilla was not physically hurt, her family said they decided to leave the game after the incident. Her mother posted the incident on social media, and it has since gained traction, with many outraged over the adult fan's behaviour. “Mia DeCamilla beat cancer and wanted to go to her first football game and it ended poorly," one fan wrote. "Great game to go to, but what horrible fans.” “This cancer survivor got pushed down the stairs at a the bills game last night. I’m furious," another added. Buffalo fans have since rallied to show the family support, with many of them donating to a GoFundMe that was organised to ease the burden of DeCamilla's treatments, with the fund reaching over $20,000. Retired NFL cult hero Antonio Brown also commented on the situation, writing on X: “Is it true this little girl got thrown down the stairs at the Bills game? Someone get me in contact with Mia’s family please. I want to get her some gear.” The team’s official supporters group, Bills Mafia, also rallied behind the family, writing on X: “So sorry to hear about Mia’s experience at the game yesterday. “We all know one bad apple can ruin the bunch. Let’s show Mia that her experience yesterday is NOT what #BillsMafia is about.” Despite everything that happened, DeCamilla didn't let the incident ruin her night. “My favourite part was getting to see Brock Purdy,” the young 49ers fan told local radio station WHAM. “He’s my favourite player and I have his jersey, too.” Images: X/ Facebook

Caring

Track your spending, use cash and DIY gifts: how to keep your costs down this Christmas

<div class="theconversation-article-body"> <a href="https://theconversation.com/profiles/angelique-nadia-sweetman-mcinnes-1361909">Angelique Nadia Sweetman McInnes</a>, <a href="https://theconversation.com/institutions/cquniversity-australia-2140">CQUniversity Australia</a> Australians are expected to spend more this Christmas than last, with spending projected to rise to <a href="https://www.shopassociation.org.au/sites/default/files/uploaded-content/field_f_content_file/2024-australian-christmas-shopping-intentions-research-report-cpmaustralia-retailsafari-1.pdf">A$69.7 billion</a>. This is a 2.7% increase on what we spent last year on gifts, food and other treats for ourselves and others. This is a lot at a time when many people are experiencing mortgage stress and high inflation. But by employing smart budgeting and spending strategies we can enjoy a festive Christmas season without huge financial stress. <h2>Know how much you are spending</h2> Being aware of what you are spending is important. So you don’t spend beyond your means, you need to decide what you are going to buy and track what you spend. Using budgeting tools in your banking app will help you monitor your spending. Your bank’s app or a <a href="https://www.savings.com.au/savings-accounts/budgeting-and-saving-apps">variety of budgeting apps</a>, can also help you find deals and stick to your financial goals. <a href="https://doi.org/10.1093/jcr/ucac024">Research</a> shows spending decreases when you use an online budgeting app by 15%. Christmas budgeting means setting clear limits, like a gift allowance for each person of, for example, under $10, $25, $50 or $100. This helps us stay on track. Before shopping, we should also ask ourselves: “Is this worth buying?” or “Do I really need this?”. <h2>How to bag a bargain</h2> About <a href="https://www.shopassociation.org.au/sites/default/files/uploaded-content/field_f_content_file/2024-australian-christmas-shopping-intentions-research-report-cpmaustralia-retailsafari-1.pdf">63% of Australian consumers</a> say they start their shopping in November, before the last-minute push to fill the Christmas stockings. This enables them to take advantage of the Black Friday sales on now and Cyber Monday, next Monday. Online research can uncover decent bargains to lower Christmas spending. Or you could wait until the Boxing Day sales to buy discounted gifts for people you don’t see until after December 25. The post-Christmas sales are also good for stocking up on heavily discounted crackers and decorations for next year. <a href="https://www.shopassociation.org.au/sites/default/files/uploaded-content/field_f_content_file/2024-australian-christmas-shopping-intentions-research-report-cpmaustralia-retailsafari-1.pdf">Most Australian shoppers</a> (89%) are combining online (websites, mobile apps, social media) with physical in-store shopping. <a href="https://www.shopassociation.org.au/sites/default/files/uploaded-content/field_f_content_file/2024-australian-christmas-shopping-intentions-research-report-cpmaustralia-retailsafari-1.pdf">Major online retailers</a> such as Amazon, eBay, and The Iconic (69%) are now more popular than department stores (59%). There are also thrift and discount stores which offer affordable gifts while using their income to help those in need. By using the internet to compare prices and set price alerts for goods you want to buy, you are more likely to get the best deals. Take time to search for store discounts. Using loyalty programs, coupons, promo codes, and free shipping also helps keep money in your pocket. <h2>Why cash at Christmas is better</h2> The <a href="https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/ensuring-future-cash-and-next-steps-phasing-out-cheques#:%7E:text=The%20Government%20will%20mandate%20that,will%20not%20be%20left%20behind.">federal government’s decision</a> last week to require businesses to accept cash, not just credit or debit cards, also has benefits for saving. Cash purchases encourage you to spend wisely, set your <a href="https://resources.depaul.edu/financial-fitness/tackle-overspending/Pages/solutions-for-overspending.aspx">spending limit, and prevent you from overspending, or paying interest and fees on cards</a>. There is also the old “<a href="https://www.ramseysolutions.com/budgeting/envelope-system-explained">cash envelope system</a>” used for centuries and popularised in the 1990s to help curb spending. This sees cash divided into envelopes, each labelled for a specific expense (for example, gifts for A, B, C). Once the money in the envelope is gone, nothing more can be spent. One way to help boost your Christmas budget; while simultaneously decluttering, your home is to sell items you no longer use. There are numerous online sites and bricks and mortar stores where this can be done. <h2>Saving money with DIY</h2> In 2024, Australians will spend an average of <a href="https://www.shopassociation.org.au/sites/default/files/uploaded-content/field_f_content_file/2024-australian-christmas-shopping-intentions-research-report-cpmaustralia-retailsafari-1.pdf">$660 per shopper on gifts</a>, with popular choices including clothing and shoes, books, and gift cards. However, it’s not necessary to buy all your gifts or Christmas decorations. Consider making affordable handmade gifts to add a personal touch. There are demonstration videos online showing you how to re-purpose old items, bake homemade festive treats, create a special moments photo album or scrapbook. Mix Epsom salts, essential oils and dried flowers to create relaxing bath salts or scrubs. Use natural pine cones or salt dough to make ornaments. Make wreaths using pine branches, holly or dried oranges. Sew fabric garlands to place on the tree, fireplace or mantle. Instead of buying multiple extravagant presents for each person, try doing a Secret Santa. This is the low-cost tradition where everyone buys only one gift for one recipient who is chosen using an online tool. Gifts are then given anonymously. <h2>Festive food</h2> Festive food spending is projected to be <a href="https://www.roymorgan.com/findings/9736-ara-roy-morgan-media-release-christmas-spending-2024">$28 billion, up 4.2%</a>, this year, contributing to the overall increase in expected total Christmas spending. To save on food expenses, asks guests to bring a dish to share. Or celebrate Christmas with an economical picnic or BBQ, weather permitting. Get creative with food leftovers to make meals and reduce the amount of food waste, while stretching your wallet further once Christmas has come and gone. <h2>Managing costs, avoiding debt</h2> Sticking to your Christmas budget can feel rewarding. If you do overspend, reflect on why, and adjust your plan. If needed, explore debt options, like credit cards or personal loans, but only as a last resort. Thoughtful planning will help you manage your costs, while enjoying the festive season. After all, the true spirit of Christmas is about creating memories and enjoying time with loved ones, not about overspending.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/244300/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/angelique-nadia-sweetman-mcinnes-1361909">Angelique Nadia Sweetman McInnes</a>, Academic in Financial Planning, <a href="https://theconversation.com/institutions/cquniversity-australia-2140">CQUniversity Australia</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/track-your-spending-use-cash-and-diy-gifts-how-to-keep-your-costs-down-this-christmas-244300">original article</a>. </div>

Money & Banking

Readers response: Is there any item of memorabilia you’ve passed down to family or plan to in the future?

As in many families, there are often sentimental items and memorabilia that are passed down from several generations. We asked our readers if there are any heirlooms that they have passed down to their younger family members, or if they plan to, and the response was overwhelming. Here's what they said. Marjorie Gale - The christening gown made by my Aunt in the UK in 1955 for my eldest daughter, worn by my two other daughters. Now been worn by my 9 grandchildren and 12 great grandchildren, and another due soon. So far 24 babies have worn it. Dawn Douglas - Yes, I have my Mums jewellery box and my eldest daughter will get it when I’m gone. I also have a brooch that belonged to my Nana. Sue Crawley - I have a 1925 gold embossed book by AA Milne “When We Were Very Young”. My most cherished memory was sitting on my great grandfathers knee whilst he read it to me. Not sure yet which grandchild will receive it. Greg Browning - A Winchester rifle my great grandfather bought in the 1800s. Have already passed it on. Marion Ingram - Family bassinets. Now on its 4th generation! Margie Buckingham - My grandmother’s costume jewellery was stunning. She was a racehorse breeder always in the Flemington Racecourse members, even had many Group One winners, so her jewellery had to look special. Paul Uttley - A silver pocket knife that belonged to my great grandfather now belongs to my oldest grandson (six generations apart)! Image credits: Shutterstock

Family & Pets

How one elderly couple made their big move to Italy

US couple Tony Smarrelli, 74, and his wife, Francine, 75, were celebrating their 50th wedding anniversary in Venice, Italy when they decided to move to Italy for good. The Smarrelli's, who are retired elementary teachers from New York and both of Italian descent relocated to the picturesque coastal town of Scalea in southern Italy. “We were in St Mark’s Square (in Venice) when a quartet started playing (classic Italian song) Malafemmina,” Tony recalled the day they decided to make the big move. “It brought tears to my eyes, because my father would put on his Italian records every Sunday for dinner and would sing that song to my mother.” Looking to reconnect with their Italian roots, they purchased a 139 metre property with three bedrooms, a dining room and a walk-in-closet for for €150,000 ($A247,754) in November 2023. “We flew to Italy for the second time in 2023 and put an offer in for that home. We then secured our visas in the US in three hours, sold our home (in the US), packed up our belongings and flew back to Italy in December 2023,” Tony said. While their home in the peaceful coastal time was already livable when they bought it, the couple chose to renovate it, spending an extra €80,000 (about $A132,086) to retile the property, add a new plumbing and electric system, as well as two new bathrooms, an entire kitchen, doors, windows and screens. The property was renovated within four-months, and they said that a similar home in the US would have been nearly impossible for them to afford. “It would be easily $US1 ($A1.5) million to $2 million to live on a coast of South California or (a place with) any coastal views on the Eastern Seaboard,” Tony said. Tony's father and grandfather initially immigrated to the US in 1983 to make a better life for themselves, now 86 years later, Tony has returned to his homeland. “Some of my best friends said it takes a lot of guts to pick up and move to another country at 74 years of age. “I tell them it took guts for my father and grandfather to come to another country on a boat for eight weeks with no home, no work, very little money, no resources to make a better life for themselves,” Tony said. “In our modern world, it’s just a lifestyle change and for us, it was a good choice.” The couple said since their big move, they've cut back nearly y $3000 ($A4574) per month on expenses, which amounts to $36,000 ($A54,894) a year. The couple now spends about $1200 ($A1825) a month between the two of them. Back in the US, the couple's mortgage alone was $US1500 per month ($A2281) “Monthly expenses in the US before leaving were between $US4800 to $US5000 a month. In all we are about $US3000 less monthly living here in Italy,” Tony said. Tony plans to apply for an Italian citizenship, and while his father was naturalised as an American citizen before he was born, he plans to rectify this by appealing to a local court. Images: CNN

International Travel

"I thought I was Bear Grylls": Woman speaks out after being trapped upside-down for 7 hours

A young woman who spent hours stuck upside-down between two boulders has spoken out about her horrific <a href="https://oversixty.com.au/travel/travel-trouble/woman-rescued-after-getting-stuck-in-between-two-boulders" target="_blank" rel="noopener">ordeal</a> as she was reunited with her rescuers. Matilda Campbell, a 23-year-old from Newcastle, was on a trip away with friends in Laguna, about a 30-minute drive from Cessnock, when she dropped her phone between two huge rocks. The young woman climbed down to retrieve her phone, and when she got stuck upside-down, her friends called 000 for help. Paramedics had to move the boulders using a specialist winch to reach Matilda, before facing the tricky task of “navigating” her out from her precarious position. After suffering minor injuries from the ordeal, Matilda has spoken out about how she ended up in the sticky situation. “We wanted to see nature ... and we saw these beautiful rocks so we sat there ... and then my friend had my phone and it slipped off the rock,” she told 7News. <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-permalink="https://www.instagram.com/reel/DBsj-x1CYI2/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/reel/DBsj-x1CYI2/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by 7NEWS Sydney (@7newssyd)</a> </div> </blockquote> “And I thought oh no I’m still paying off that phone I need it ... so I ventured down and thought I was Bear Grylls ... and I slipped head first into the crevice where I was stuck for seven hours." “I didn’t freak out at the start ... it took me about half an hour to realise I was fully stuck and then I started to have a big cry." “I’m very thankful I was with my friends, otherwise it would have been a very different story.” Campbell has since been reunited with her rescuers, to whom she says she owes her life, as she said, “I’m just thankful to see them again ... I wouldn’t be here today without them. So, I’m really thankful.” Specialist rescue paramedic Peter Watts said the rescue was “challenging but incredibly rewarding”, saying after the rescue, “In my 10 years as a rescue paramedic, I had never encountered a job quite like this.” In total, the woman spent seven hours hanging upside-down before she was freed, with only minor scratches and bruises but still without her phone, which could not be retrieved. Image credits: 7News

Travel Trouble

Nova radio star breaks down in heartwarming interview with Kate Winslet

Kate Winslet shared a heartwarming moment live on-air with Kate Ritchie on Nova radio on Wednesday morning. The Hollywood star appeared on Fitzy and Wippa with Kate Ritchie to promote her new movie, Lee, where Ritchie brought up the star's powerful comments about the scrutiny women in the public eye face. “I have to say to, I just want to thank you for the conversations that you have about body image," Ritchie said. “What we do have in common is that we somewhat grew up in the public eye; I grew up on a television show," the former Home and Away actress added. She then praised Winslet for continually speaking out about “women and young girls, growing up and having people comment about us and pass judgement and feel as though its OK to say certain things. I think we’ve always known that it's not OK." “But it’s been really hard conversation to have and it’s hard to sometimes stand up and say ‘This does not make me feel good’ and ‘it’s not OK for someone to speak that way’, and someone of your calibre, I hope you know the value of you having these conversations. Because it makes me, and I’m sure millions of other women …” she said while tearing up. “Oh she’s unravelling in here!” Winslet said in attempt to lighten the mood, as she shared a smile in agreement. “That’s really very kind,” said Winslet. “I think women are getting better at standing up for each other as well as standing up for ourselves.” Winslet has been very vocal about women standing up for themselves and has led by example, revealing in another interview that she was forced to defend herself to a crew member while filming the movie. “There’s a bit where Lee’s sitting on a bench in a bikini and one of the crew came up between takes and said: ‘You might want to sit up straighter.’ So you can’t see my belly rolls? Not on your life! It was deliberate, you know?” she told Harper's Bazaar UK. Images: Nova

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Readers response: Is there any item of memorabilia you’ve passed down to family or plan to in the future?

How one elderly couple made their big move to Italy

"I thought I was Bear Grylls": Woman speaks out after being trapped upside-down for 7 hours

Nova radio star breaks down in heartwarming interview with Kate Winslet

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