Search

Placeholder Content Image

Pop star discovered tragically dead at 33 in the wake of scandal

<p>South Korean pop star Choi Sung-bong, who was caught running a notorious cancer scam has passed away at age 33.</p> <p><em>The Korean Times</em> reported that Choi was found by police at his Seoul home on the morning of June 20. He was pronounced dead soon after.</p> <p>Authorities have reportedly ruled the singer’s cause of death as a suicide.</p> <p>According to the Hollywood Reporter, after years of online fame stemming from a 2011 performance on Korea’s Got Talent, Choi confessed he had tricked his fans into donating money to him after claiming he needed funds for cancer treatment.</p> <p>Choi had claimed he had been battling multiple forms of cancer to obtain the donations, however, his claims were later exposed as a hoax.</p> <p>He also claimed he had returned all donated funds from a false fundraiser.</p> <p>Choi later issued a grovelling apology and vowed to return all of the donations sent by his fans.</p> <p>One day before his alleged suicide, Choi posted a note on his YouTube channel apologising for “foolish mistakes” in the past, according to The Mirror.</p> <p>The chilling letter said he needed to "repay for his sins with his life” and showed the address of where his body would be after taking his life.</p> <p>“My body can be found at [his home location]. I don’t know how to write a final message, so I will just write it in my own style. Even though my breath may have stopped now, I have no regrets about the brilliant journey of my life. I have lived my life to the fullest and made efforts to find happiness every day. Age thirty-four," (as per Korean age system), he said.</p> <p>Choi was best known for competing in Korea’s Got Talent in 2011, coming in at second place.</p> <p><a href="https://www.youtube.com/watch?v=vIy99OT2BAQ" target="_blank" rel="noopener"><iframe src="https://www.youtube.com/embed/vIy99OT2BAQ"></iframe></a></p> <p>A clip of him singing a cover of Nella Fantasia by Ennio Morricone quickly went viral online, thrusting him into the spotlight  – <span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">with singing sensation Justin Bieber even acknowledging his talent.</span></p> <p><em>Image credit: YouTube</em></p>

Caring

Placeholder Content Image

Aussie actress in catastrophic bus crash offered $16 voucher as compensation

<p>An Aussie tourist left injured and stranded after a fatal bus crash in southern Italy has claimed the travel company only offered her a meal voucher for the inconvenience.</p> <p>Australian actress Sinead Curry, who has starred in TV shows like The Haunting of Nancy Drew and DC’s Legends of Tomorrow, said that nine hours following the crash, the European bus company offered her a $16 meal voucher for her troubles.</p> <p>Curry and partner Salma Salah, both from Sydney, boarded the FlixBus in the city of Bari on June 3 for the long journey to the Northern city of Bologna with a transfer to Rome.</p> <p>However, two hours into the trip Curry said the “bus hit something”.</p> <p>“We were all asleep, it went airborne and spun around a bunch of times,” she said in a TikTok video posted the following day, showing her in hospital wearing a neck brace.</p> <p>Curry told followers the bus was “flung around like in a blender” before it landed down by an embankment, which she claimed was “on the other side of the road”.</p> <p>“Several cars then hit the bus moving the bus closer and closer to the side of the road,” Curry explained in her video.</p> <p>Italian and German media reported the bus crash occurred near the town of Avellino, approximately 50km east of the southwest city of Naples.</p> <p>Five cars were caught up in the accident and local emergency services were quoted as saying the “lifeless body of a man was found” along with 14 people sustaining injuries.</p> <p>Curry said there were 38 people on the bus, including another Aussie woman called “Caity”, who suffered a broken collarbone.</p> <p>After Curry was discharged from the hospital, fearing her nose was broken but was assured it was not, she made another video emphasising how she felt abandoned by the bus company.</p> <p>“FlixBus none of your numbers are working,” an emotional Curry urged.</p> <p>“They ring out and they hang up on us. We cannot get any information from FlixBus, we cannot get our luggage back.</p> <p>“They offered us by text a 10 euro ($16) meal replacement voucher for the inconvenience.</p> <p>“There are a bunch of people here who nearly died we don't have any information.”</p> <p>Curry later claimed FlixBus even blocked her on social media.</p> <p>“We just want some information and some help,” she explained, complaining that she was still waiting on her luggage to be returned.</p> <p>FlixBus issued a statement claiming “a support line and email” was provided to all passengers and their families following the incident.</p> <p>"Outbound calls were made to passengers who had registered their mobile numbers, and emails were sent to passengers with instructions,” the bus company said.</p> <p>“At all times, the safety of its passengers and drivers is of highest priority to FlixBus.”</p> <p>Two days following the incident Curry received her luggage and was in Rome after an emergency shuttle had been deployed for stranded passengers.</p> <p>However, she said that as they arrived in Rome, passengers were finding “shrapnel” from the crash in their bodies and she had gotten a piece out of herself.</p> <p>On June 5 Curry took to TikTok again, saying she and her partner were grateful to be “safe and in Rome”.</p> <p>Although safe, she did note that they were heading to the hospital to get checked again as she was suffering from “very severe headaches” and had intense pain in her jaw.</p> <p>Curry then thanked the “heroes” in Italian fire and rescue, who she said took her and her partner in and gave them pasta, crackers, water and a change of clothes.</p> <p>She said FlixBus had rung her twice at a later date to tell the couple to keep receipts for a full refund.</p> <p>Curry jetted to Europe for her dream holiday but given the incident, she and her partner are dumping their Italian plans to recuperate in Rome.</p> <p>“We are so grateful to be alive please hold your loved ones close,” she said.</p> <p><em>Image credit: TikTok</em></p>

Legal

Placeholder Content Image

Pizza chain's delightfully devilish scheme lets you pay when you die

<p>A delightfully devilish pizza chain is taking the 'buy now, pay later' scheme to the next level, giving customers the chance to pay for their pizza when they die. </p> <p>HELL Pizza is inviting pizza fans to apply for the trial scheme, which involves amending their wills to have their total cost included. </p> <p>The chain has one store in Brisbane, with the rest of its stores located around New Zealand, with customers from both countries able to apply for the scheme, which involves no late fees or penalties.</p> <p>The restaurant will select 666 applicants from each country, who will be invited to sign a real amendment to their wills allowing the cost of their pizza to be collected upon death.</p> <p>According to HELL Pizza CEO Ben Cumming, pizza is one of the simple joys of life, and AfterLife Pay means diners can get their fix without having to dip into the bank account immediately.</p> <p>The scheme emerged after the business was approached by popular 'buy now, pay later' providers who wanted HELL Pizza to offer the service to its customers. </p> <p>The pizza chain's unique AfterLife Pay came as a direct response to this proposal, as a statement against “schemes trapping a growing number of Aussies in spirals of debt”, Cumming said.</p> <p>“We’re seeing a growing number of people using the schemes to buy essential items like food, and we think it’s taking it a step too far when you’ve got quick service restaurants like ours being asked to offer BNPL for what is considered a treat,” he said.</p> <p>“Especially when you consider people are falling behind in their payments and 10.5 percent of loans are in arrears."</p> <p>“AfterLife Pay is a light-hearted campaign that reinforces HELL’s stance on BNPL schemes - you can have your pizza and eat it too without any pesky late fees or penalties.”</p> <p>Applicants can apply for the scheme <a href="https://afterlife.hellpizza.au/" target="_blank" rel="noopener">online</a>, with the chain's restaurant assuring that you will you won't pay anything for your order until "you're resting six feet under". </p> <p><em>Image credits: HELL Pizza</em></p>

Food & Wine

Placeholder Content Image

Get-rich-quick schemes, pyramids and ponzis: five signs you’re being scammed

<p><a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Ze<em>ka</em></a><em>, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> and <a href="https://theconversation.com/profiles/abdul-latif-alhassan-1390159">Abdul Latif Alhassan</a>, <a href="https://theconversation.com/institutions/university-of-cape-town-691">University of Cape Town</a></em></p> <p>Consumers are under a lot of financial strain. The <a href="https://www.weforum.org/agenda/2022/09/cost-of-living-crisis-global-impact/">World Economic Forum</a> reports that the cost-of-living crisis is affecting people across the globe. With food and fuel prices rising, it’s becoming increasingly difficult to keep financially afloat. On top of that, salaries <a href="https://www.wsj.com/articles/workers-pay-globally-hasnt-kept-up-with-inflation-e6df92d">aren’t keeping up with inflation</a>, making it more difficult to save and build wealth.</p> <p>It’s during such times of economic difficulty and uncertainty that fraudsters lure unsuspecting consumers into “<a href="https://www.sabric.co.za/">get-rich-quick</a>” schemes, offering <a href="https://www.sabric.co.za/stay-safe/ponzi-pyramid-schemes/">an avenue to make easy money</a> by investing in a “lucrative” financial opportunity.</p> <p>Nothing beats the prospect of making easy money, and every now and again there seems to be a “get-rich-quick” scheme circulating on WhatsApp or on social media that seems legitimate. But it’s not.</p> <p>Our research interests centre on financial systems in emerging economies, and we advocate for financial inclusion and empowering marginalised communities through financial literacy and financial planning. We use our academic platform to share our expertise on finance, including common financial traps people should steer clear of.</p> <p>“Get-rich-quick” schemes are one such trap. They’re also sometimes called ponzi or pyramid schemes. The schemes are a form of <a href="https://www.lawinsider.com/dictionary/financial-fraud">financial fraud</a>. The people running them take money through deception: the misrepresentation of information and identity. They promise financial benefits that don’t exist.</p> <p>You should avoid them because, more often than not, they are bogus and fraudulent business ventures.</p> <p>There have been some massive fraud schemes over the past 30 years. In the early 1990s, <a href="https://www.independent.co.uk/news/world/africa/mmm-global-russian-ponzi-scheme-from-1990s-reborn-and-now-spreading-like-wildfire-in-africa-a7333366.html">MMM Global</a> - one of the world’s largest and most notorious ponzi schemes - defrauded up to 40 million people, who lost an estimated $10 billion. Ponzi schemes have since resurfaced in different forms in <a href="https://www.iol.co.za/weekend-argus/news/ponzi-scheme-investigated-as-some-victims-lost-as-much-as-r200-000-c3c3633c-2abb-4dd4-b668-a5ea608deb41">South Africa</a>, <a href="https://guardian.ng/business-services/nigerians-lose-over-n911b-to-ponzi-schemes-related-fraud-in-23-years/">Nigeria</a>, <a href="https://www.voazimbabwe.com/a/zimbabwe-money-pyramids-ponzi-schemes/6305100.html">Zimbabwe</a>, <a href="https://allafrica.com/stories/202105170964.html">Kenya</a>, <a href="https://doi.org/10.1108/JFC-09-2020-0177">Ghana</a> and several other African countries.</p> <p>There are five tell-tale signs of a “get-rich-quick” scheme. Watch out for them.</p> <h2>The five tell-tale signs</h2> <p><strong>Firstly</strong>, they offer exaggerated and above-market returns within a short period of time, with the promise of little to no risk.</p> <p>There are two golden rules when it comes to investing. The first is that it takes time to make money. Amassing a small fortune within a short space of time should raise questions about the scheme.</p> <p>The second rule is: the higher the risk, the higher the return. In other words, no investment is risk free or can guarantee significant returns. There is always some risk involved. An investment that promises substantial returns tends to be quite risky, which repels most people with a low appetite for risk.</p> <p><strong>Secondly</strong>, new members are constantly recruited to join the scheme.</p> <p>Typically, such schemes are sustained by relying on the investments of new members to pay existing members. Once the number of existing members exceeds new members, the scheme goes “belly-up”. At best you lose out on the returns you were promised. At worst you lose all the money you’ve invested.</p> <p>When the scheme collapses, it is almost impossible to recover the money you’ve lost because you’ve technically given it to a stranger (remember, the definition of financial fraud encompasses the misrepresentation of identity).</p> <p><strong><strong>Thirdly</strong></strong>, there is urgency to join the scheme and no clarity on how the scheme works.</p> <p>This is a classic characteristic of a “get-rich-quick” scheme. There is usually no clear answer about the nature of the scheme, what it invests in, how it generates its returns or the credentials of the organisation.</p> <p>Legitimate investments are transparent and can provide investors with all the information they need to help them decide whether to invest. Unsurprisingly, a proper check of “get-rich-quick” schemes will unmask their fraudulent nature. This is why there’s always the urgency and coercion to make an immediate financial commitment under the guise of missing a once-in-a-lifetime opportunity to get rich.</p> <p><strong>Fourthly</strong>, the scheme is not registered with or regulated by any recognised authority.</p> <p>Regulatory authorities are important because they monitor the conduct of financial service providers and protect consumers by keeping their best interests in mind. The protection provided by financial regulators also instils confidence in financial systems.</p> <p>“Get-rich-quick” schemes are not registered and operate outside the framework of regulatory bodies. This makes investors more vulnerable to loss and makes it more difficult to seek legal recourse when the loss occurs.</p> <p>Legitimate investments in South Africa are offered by authorised financial service providers and regulated by the <a href="https://www.fsca.co.za/Pages/Default.aspx">Financial Sector Conduct Authority</a>. You can search for any authorised financial service provider on the authority’s <a href="https://www.fsca.co.za/Fais/Search_FSP.htm">website</a>.</p> <p><strong>Fifthly</strong>, they use the testimonies from existing members who’ve earned big bucks to promote the scheme.</p> <p>At the initial stages, the scheme tends to pay out to those who have invested early, and these members are encouraged to share the news of their wealth (which travels fast and far) to promote the scheme.</p> <p>But this is a tactic used to create the impression that you too can earn returns in the double digits. These schemes are both unsustainable and unethical as one person gets wealthy through someone else being deceived.</p> <h2>Too good to be true</h2> <p>It’s worth repeating that if it sounds too good to be true, then it probably is.</p> <p>Wealth comes from a sound investment strategy and decisions made over time. Any promise to “get rich quick” should be treated with the cynicism it deserves. It will ultimately reveal its fraudulent nature. Recognising the signs of “get-rich-quick” schemes can save you from unnecessary financial distress.</p> <p>It’s always a good idea to do your own investigation before committing your finances into any investment. You can find more information on the various types of scams through the <a href="https://www.sabric.co.za/">South African Banking Risk Information Centre</a>’s website and report them to the <a href="https://www.safps.org.za/Home/Contact">South African Fraud Prevention Service</a>.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><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/205798/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, Assistant Professor in Finance and Financial Planning, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> and <a href="https://theconversation.com/profiles/abdul-latif-alhassan-1390159">Abdul Latif Alhassan</a>, Associate Professor in Development Finance & Insurance, <a href="https://theconversation.com/institutions/university-of-cape-town-691">University of Cape Town</a></em></p> <p><em>Image credits: Getty Images</em></p> <p><em>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/get-rich-quick-schemes-pyramids-and-ponzis-five-signs-youre-being-scammed-205798">original article</a></em>.</p>

Money & Banking

Placeholder Content Image

Super has become a taxpayer-funded inheritance scheme for the rich. Here’s how to fix it – and save billions

<p>Australia’s A$3.3 trillion superannuation system is supposed to boost people’s retirement incomes. The government says as much in its <a href="https://treasury.gov.au/sites/default/files/2023-02/c2023-361383.pdf">proposed leglislated objective</a> for superannuation. The system is supported by billions of dollars of tax breaks each year, ostensibly to that end. </p> <p>But there’s just one problem – increasingly, much of what is saved is never spent.</p> <p>Our new report, <a href="https://grattan.edu.au/report/super-savings-practical-policies-for-fairer-superannuation-and-a-stronger-budget">Super savings: Practical policies for fairer superannuation and a stronger budget</a>, points out that without an overhaul, super tax breaks are set to do little more than boost the inheritances of Australians with well-off parents. </p> <p>Super contributions and super earnings are both taxed more lightly than other income. These tax breaks cost the budget about $45 billion (2% of Australia’s gross domestic product, or GDP) each year.</p> <p>Treasury predicts that figure will hit 3% of GDP by 2060, and that the cost of super tax breaks will overtake the cost of the age pension by as soon as 2036.</p> <p>Super tax breaks are also unfair: about two-thirds go to the top 20% of earners. </p> <p>This means the tax breaks provide the biggest boost to the super accounts of high earners, who will almost all have a comfortable retirement regardless, and who tend to save the same regardless of the tax rate imposed. </p> <p>The wealthiest 10% of Australians get a bigger boost to their retirement savings from super tax breaks than poorer Australians get from the age pension.</p> <p>But much of what is saved for retirement never actually gets spent in retirement. </p> <p>Earlier research by <a href="https://grattan.edu.au/news/balancing-act/">Grattan Institute</a> and the <a href="https://treasury.gov.au/sites/default/files/2021-02/p2020-100554-udcomplete-report.pdf">2020 Retirement Income Review</a> found that, for a variety of reasons, spending falls substantially during retirement. Retirees often end up leaving much of their nest egg untouched, bequeathing it to their children.</p> <p>This means billions of dollars in super tax breaks simply end up boosting the inheritances received by the children of well-off parents. It makes super a taxpayer-funded inheritance scheme. </p> <p>This problem is set to get worse. With the rate of compulsory superannuation legislated to rise from 10.5% of wages to 12% by 2025, future generations of retirees are set to retire with even larger nest eggs that they will never spend. </p> <p>Treasury projects that by 2059, one in every three dollars paid out of the super system will be a bequest, up from one in every five today.</p> <p>Big inheritances boost the jackpot from the birth lottery. They help richer children get richer. Among the Australians who received an inheritance over the past decade, the wealthiest fifth received on average <a href="https://grattan.edu.au/news/the-great-australian-nightmare/">three times</a> as much as the poorest fifth.</p> <p>To help reverse this, the government needs to rein in the super tax breaks.</p> <h2>How to make super fairer</h2> <p>The government’s policy, <a href="https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/superannuation-tax-breaks">announced in February</a>, of taxing the earnings on balances bigger than $3 million at 30%, instead of 15%, will help. </p> <p>But the threshold ought to be lowered to $2 million. Balances between $2 million and $3 million are very unlikely to be spent in retirement, so winding back tax breaks on earnings on balances bigger than $2 million would further wind back taxpayer-funded bequests. </p> <p>And there’s more. Currently, many wealthier Australians receive a larger tax break per dollar contributed to super than many low income earners. </p> <p>Yet low earners have more to be compensated for. Putting money into their super cuts their age pension in retirement, and they live shorter lives, meaning less time to enjoy their super in retirement.</p> <p>The pre-tax contributions of people earning more than $220,000 a year should be taxed at 35%, instead of the 30% charged to those earning more than $250,000 currently. That would still offer a 10% tax break on super contributions for high earners (given the top marginal rate of 45%) and at least a 15% break on the contributions of low and middle earners. </p> <p>And the annual pre-tax contributions cap should be lowered from $27,500 to $20,000. Contributions above this level tend to be made by people close to retirement with already-high balances.</p> <h2>Tax earnings in retirement the same as while working</h2> <p>On the earnings side, the tax-free earnings enjoyed by retirees on their first $1.7 million ($1.9 million from 1 July this year) of their super should go.</p> <p>Superannuation earnings in retirement should be taxed at 15%, the same as superannuation earnings before retirement. This would save the budget at least $5.3 billion a year, and much more in future, and make taxing super more simple.</p> <p>More than 70% of this revenue would come from the top 20% of retirees. The top 10% would pay an extra $7,000 to $7,500 a year on average, whereas the poorest half would no more than $200 more each.</p> <p>Both sides of politics say they agree that super shouldn’t be a taxpayer-funded inheritance scheme. But there’s a long way to go before that vision is reality.</p> <p><em>Image credits: Getty Images</em></p> <p><em>This article originally appeared on <a href="https://theconversation.com/super-has-become-a-taxpayer-funded-inheritance-scheme-for-the-rich-heres-how-to-fix-it-and-save-billions-202948" target="_blank" rel="noopener">The Conversation</a>. </em></p>

Retirement Income

Placeholder Content Image

Win a share of $35,000 in renovation vouchers while adding value to your home

<p>A <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">simple renovation</a> is one of the easiest ways to add value to your home. And from August till November, <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">LJ Hooker</a> are helping you out, giving you the chance to win a <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">$5,000 renovation voucher</a> out of a pool of $35,000. Whether it's a small bathroom renovation, sprucing your kitchen with new benchtops, or brushing up multiple rooms via a new paint job, it’s <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">a small investment</a> that can <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">pay off substantially</a>. To help you figure out what your home needs, book an appraisal with them <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">here</a>.</p> <p>It is a good idea to add value to your home before selling. Making small improvements will give your property a fresh, new look and increase your chances of getting the best return.</p> <p>Adding value to your home does not have to involve breaking the bank with expensive renovations. You can easily <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">boost your property’s value</a> on a budget with some simple yet effective DIY hacks that will increase the likelihood of selling your home.</p> <p><strong>The rooms that add value to your home</strong></p> <p>When you are looking to add value to your home on a budget, you want to make improvements that will create maximum impact with minimum investment. Think about small updates that can increase the functionality of the room. Home improvement does not need to mean spending a lot.</p> <p>Here are the rooms that, when done right, can add great value to your home:</p> <h3><strong>Revive your kitchen</strong></h3> <p>People spend a lot of time in their kitchens. The classic go-to room, your kitchen should be one of the first rooms to focus on <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">improving prior to selling</a>. You do not need a full-on makeover.</p> <p>Start with updating the floor if needed (vinyl is a great cost-effective option that looks great and will not break the bank) and give old cabinet doors a facelift with new paint and fixtures. Countertops can be revamped with laminate benchtops - the most cost-effective material.</p> <p>Another point of focus should be your splashback. Scrub to remove any grime or consider stick-on tiles that can be placed over the top of your old splashback for an instant, budget-friendly upgrade.</p> <h3>Maximise space in bedrooms</h3> <p>Have a ‘spare room’ that is primarily used for storage or as a study space? Consider converting it into an extra bedroom. Doing so will add value to your home and attract more buyers.</p> <p>With your existing bedrooms, consider giving them a repaint and adding extra storage options such as installing a built-in robe or extra shelving. Make bedrooms ready for staging by adding plush finishes such as comfy bed throws, cushions, shaggy rugs and fresh flowers.</p> <h3>Make your living room liveable</h3> <p>The family living room should be a space of comfort and function. Open up the space by neutralising the wall colours and letting in maximum light with the use of added lighting such as floor lamps or by swapping out heavy curtains for light-coloured shutters.</p> <p>Turn awkward nooks into usable spaces for storage and consider investing in smart home technology with smart lights, a smart thermostat and adding a smart device to your TV for easy voice-command operation.</p> <p><strong>Add value to your property on a budget</strong></p> <p>There are many things that you can do to <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">get the most value when selling your home</a>. If you are planning on selling soon and want the best return on your investment, then the key is to spend money in the right places.</p> <p>Even on a budget, there is still a fair bit you can do to your home to have it <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">ready for appraisal</a>. You do not need to spend a dramatic amount of money, especially if done right. Here are our top ways to instantly add value to your property:</p> <h3>A fresh coat of paint</h3> <p>Re-painting a room makes it seem brand new and refreshes the complete look of your home’s interior. It is also a good way to add light to a room, particularly if you choose neutral colours such as whites and creams. This creates an overall brightness and airiness to your home, making it more inviting.</p> <h3>Curb appeal</h3> <p>First impressions count! Your home’s exterior is the first thing people see. Boosting its curb appeal is therefore a quick yet effective way to <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">add value to your property</a>. You can do this by mowing lawns, pressure washing the exterior walls and driveway, fixing broken fence pailings, adding outdoor lighting to your entranceway and planting new plants.</p> <h3>New flooring</h3> <p>Floors have a big impact on the perceived value of your home. If your floors are in generally good condition, you can help increase their value and appearance by simply steam cleaning to remove old built-up dirt and stains, replenishing timber floorboards with new lacquer or a wax finish or hiring a buffer to buff and polish.</p> <p>If your flooring is old and outdated, it is possible to install a new floor without having to sacrifice too much of your savings.</p> <h3>Add space and cleanliness</h3> <p>You want to make the best first impression when selling your home. Do this by getting rid of any rubbish and clutter and by giving your home a deep clean to remove any mould, dirt and deodorise furniture.</p> <p>By removing clutter and giving your home a deep clean, you are making your home fresh and inviting for potential buyers. Some quick ways to create a more open living space include:</p> <ul> <li>Removing excess furniture</li> <li>Clearing table tops</li> <li>Keeping knick-knacks and collectibles to a minimum</li> <li>Storing unwanted or unused items in under-bed storage boxes</li> <li>Invest in space-saving options such as stackable boxes, furniture that doubles as storage, and vertical hangers or shelves.</li> </ul> <h3>Update old fittings & fixtures</h3> <p>Giving old doors, cabinet doors and drawers a facelift with new handles is an instant upgrade that will add value to your home. Replacing old light fittings and light switch face plates is another way to add value without much effort or money.</p> <h3>Create inviting spaces</h3> <p>Improving the key rooms in your home can contribute to the overall <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">worth of your property</a>. If your home’s interior is in good condition and indoor spaces are usable, then you are likely to get a higher market price when it comes time to sell. You can prepare your home for staging by focusing on the main liveable spaces of your home such as the kitchen, bathroom and living room.</p> <p><strong>A key summary of adding value to your home</strong></p> <p>If you are on a budget and want to add value to your home, you should look at the below options:</p> <ol> <li>Transform your home with a coat of paint</li> <li>Create some street appeal by sprucing up your front yard and home exterior</li> <li>Install new floors or polish old ones</li> <li>Get rid of clutter and put personal items in storage</li> <li>Update fittings & fixtures on cabinetry, lights and doors</li> <li>Stage key rooms to improve appearance and function</li> </ol> <p><strong>Let us help show the value of your property</strong></p> <p>If you are ready to sell your home and wondering how to add value to your property to maximise your return, then give the above budget-friendly tips a go. You do not have to spend a lot of time or money to improve your home. Remember, the key is to make your home beautiful and functional. If you do not enjoy using your home while you are living in it, then how will potential buyers?!</p> <p>Voted Australia’s number one real estate brand, a little help from the team at LJ Hooker can be invaluable when it comes to <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">selling a home</a>. Book a <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">property appraisal</a> today to get your home market-ready.</p> <p><em>Image: Getty Images</em></p> <p><em>This is a sponsored article produced in partnership with <a href="https://go.linkby.com/TBDJBQJE" target="_blank" rel="noopener">LJ Hooker.</a></em></p>

Home Hints & Tips

Placeholder Content Image

Small detail in Coles BYO container scheme sparks confusion

<p dir="ltr">A new sustainability scheme has left shoppers at Coles scratching their heads due to one seemingly counterintuitive detail.</p> <p dir="ltr">The retailer’s Together to Zero campaign has seen a handful of stores begin trialling a “bring your own packaging” scheme allowing customers to use reusable containers for items purchased from the deli counter.</p> <p dir="ltr">However, many are puzzled by one requirement of the scheme - the containers must be plastic.</p> <p dir="ltr">A sign displayed in a trial store in Blackwood, South Australia, which asked shoppers to “help reduce packaging” by bringing their own containers for deli workers to fill was shared on Facebook earlier this week by a shopper encouraging others to take part in the scheme.</p> <p dir="ltr">The sign also included requirements that the containers were “clean and intact”, had a “reusable lid”, and weren’t made of “glass or ceramic”.</p> <p dir="ltr">With the banning of single-use bags and plastic tableware, some questioned the sustainability project’s reliance on plastic over more sustainable options.</p> <p dir="ltr">“Shame there’s no glass containers allowed, but still a good move,” one person commented.</p> <p dir="ltr">“I only have glass so it’s completely useless for me,” another shared.</p> <p dir="ltr">“More crap to take to the store,” a third pointed out.</p> <p dir="ltr">Others shared concerns over the condition of containers that people would bring in, as well as the risk of food poisoning.</p> <p dir="ltr">“As much as I love the reusable option. I have fears about this. People will be bringing in manky containers that have sat in their cars for two days to refill,” one concerned person wrote.</p> <p dir="ltr">“How does this cover them for food poisoning?” another asked.</p> <p dir="ltr">Despite the concerns, some were more optimistic about the trial, with one person describing it as a “good start” and another sharing that they would “make a special trip or two” to take part.</p> <p dir="ltr">The trial of BYO containers will be taking place across several South Australian Coles supermarkets, including those in Burnside, Blackwood, Unley, Bridgewater, Mount Barker and Murray Bridge, as well as a store in Kew, Victoria.</p> <p dir="ltr">During the trial, the BYO containers aren’t allowed to be used for deli salads, frozen prawns, barbecue items, hot food, deli express products, or self-serve cheese or platters.</p> <p dir="ltr">A Coles spokesperson said the company was closely monitoring feedback of the trial, telling <em><a href="https://www.news.com.au/finance/business/retail/coles-byo-containers-program-lashed-over-one-detail-with-customers-confused-over-rules/news-story/69032894b46e7174e79e203384850cd0" target="_blank" rel="noopener">news.com.au</a></em> that it will inform whether the scheme is rolled out to additional stores across the country.</p> <p dir="ltr">“As part of our Together to Zero Waste ambition, Coles is always looking for ways to reduce reliance on unnecessary single-use plastic, while giving customers sustainable options to help them complete their shop,” the spokesperson said.</p> <p dir="ltr">“We are trialling bring-your-own containers at a handful of Coles supermarket delis in South Australia, to understand how best to provide this option to customers while continuing to meet stringent food safety standards.</p> <p dir="ltr">“We will be looking closely at how our South Australian customers respond, and the feedback and insights will inform our consideration for potentially rolling this out to more stores in South Australia, or around Australia.”</p> <p><span id="docs-internal-guid-2c7628bd-7fff-be79-f009-18570245750d"></span></p> <p dir="ltr"><em>Image: Facebook</em></p>

Food & Wine

Placeholder Content Image

PM launches probe into "unlawful" robodebt scheme

<p>Anthony Albanese has shared the details of a royal commission into the Centrelink robodebt scheme, which he committed to during the election. </p> <p>Robodebt was rolled out by the Coalition government between 2015 and 2019, which was an automated debt recovery program that was fraught with errors. </p> <p>The scheme used an automated system to match data from Centrelink and the ATO to raise debts against welfare recipients for money the then-government claimed was overpaid. </p> <p>During the election campaign, the Prime Minister described the ordeal as a “human tragedy, wrought by (the Coalition) government."</p> <p>“Against all evidence, and all the outcry, the government insisted on using algorithms instead of people to pursue debt recovery against Australians who in many cases had no debt to pay,” Albanese said.</p> <p>The program, which was found to be unlawful in 2019, raised over $1billion in debts against 443,000 Australians. </p> <p>In total, $751million was wrongly collected from 381,000 people.</p> <p>A $1.8billion settlement between victims and the federal government was reached in 2020 after a class-action lawsuit.</p> <p>Despite Albanese's determination to dive into what went wrong during the scheme, the Coalition had argued there was no need for an inquiry given the settlement.</p> <p>Scott Morrison, who was social services minister when the unlawful scheme was conceived, has repeatedly denied he was personally responsible for the program.</p> <p><em>Image credits: Getty Images</em></p>

Money & Banking

Placeholder Content Image

Melissa Caddick’s husband claims millions in jewels, cars, homes and assets

<p>Melissa Caddick’s husband, Anthony Koletti, has lodged a claim indicating that he is entitled to a significant share of the multi-million dollars worth of cars, houses, artworks and jewellery left by the missing Sydney woman.</p> <p>After it was <a href="https://www.oversixty.com.au/finance/money-banking/melissa-caddick-s-hidden-millions" target="_blank" rel="noopener">revealed</a> that Caddick had misappropriated $25 million of investors' funds in a Ponzi scheme via her company Maliver Pty Ltd, court proceedings were begun in November 2020 by the corporate watchdog in order to return the vast amounts of swindled money to investors. These proceedings remain underway.</p> <p>Mr Koletti has now filed a statement in Federal Court as an interested party, claiming that he is entitled to matrimonial property including $2 million of clothes and jewellery, $7 million worth of shares, proceeds from $360,000 of cars that have been sold, as well as two homes in the multi-million dollar price range.</p> <p>Mr Koletti also claims entitlement to personal property that includes five valuable John Olsen paintings, a Louis Vuitton watch, a Gucci wedding dress and several more pricey items of white-gold jewellery – including a $33,960 diamond ring set by Sydney fine jewellery designer Canturi and his own $26,500 wedding band.</p> <p>According to court documents, Mr Koletti’s claim was based on his “financial and non-financial contributions” to the relationship since his December 2013 marriage to Caddick.</p> <p>Mr Koletti’s basis for the claims rest with the fact that he used up almost all of his income and assets to support Caddick and her son during their marriage, and that furthermore that since Caddick’s disappearance he has personally paid around $500 a week to care for her child.</p> <p>The claim went on to state that “due to the extensive media coverage relating to the Defendant’s disappearance, the time taken by legal proceedings and Mr Koletti’s grief, he has not been able to secure gainful employment in his usual trade other than casual hairdressing services and some income from <a href="https://www.oversixty.com.au/entertainment/music/melissa-caddick-s-husband-releases-album-about-her-disappearance" target="_blank" rel="noopener">his music</a>.” </p> <p>Mr Koletti’s court filing comes ahead of an inquest set for September, which will further probe the <a href="https://www.oversixty.com.au/finance/legal/wild-theories-over-melissa-caddick-disappearance" target="_blank" rel="noopener">mysterious disappearance</a> of Caddick.</p> <p><em>Image: Supplied</em></p>

News

Placeholder Content Image

$250 million in accommodation vouchers for all NSW residents

<p>Adults in New South Wales are able to apply for accommodation vouchers to go towards their next intrastate holiday. </p> <p>From Monday February 21st, NSW residents can apply for one of the $50 vouchers to use on holiday, in order to help boost the state's financial Covid recovery.</p> <p>The new vouchers are part of a $250 million government scheme to help NSW residents explore their own state's destinations, all while helping local tourism businesses. </p> <p>“The Stay NSW voucher is a fantastic incentive for NSW residents to get out and explore the incredible cultural and natural wonders of their home state or even experience what it’s like to be a tourist in Sydney with a staycation in one of the world’s great CBDs,” Minister for Tourism Stuart Ayres said.</p> <p>“The NSW Government is committed to supporting our accommodation providers, who have experienced consecutive years of hardship with natural disasters and the pandemic."</p> <p>“This initiative will provide a much-needed boost to the sector as we continue on our roadmap to recovery.”</p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en">1️⃣ Are you 18 years or above?<br />2️⃣ Do you live in NSW?</p> <p>When you log in online or open your ServiceNSW app this morning - you may be eligible to claim a $50 Stay NSW voucher - to help support accommodation providers in NSW impacted by COVID-19. <a href="https://t.co/WyS50HTZE0">pic.twitter.com/WyS50HTZE0</a></p> <p>— Victor Dominello MP (@VictorDominello) <a href="https://twitter.com/VictorDominello/status/1495536895484469255?ref_src=twsrc%5Etfw">February 20, 2022</a></p></blockquote> <p>While residents are able to apply for the vouchers now, they will be rolled out in a staggered approach, with all residents having access by March 3rd. </p> <p>Unlike the Dine and Discover vouchers, accommodation vouchers can be used with family and friends. </p> <p>“People can pool the $50 Stay NSW Vouchers with relatives or mates, with no redemption limit,” Minister for Customer Service and Digital Government Victor Dominello said.</p> <p>The vouchers will be valid for use in New South Wales until October 9th.</p> <p><em>Image credits: Getty Images</em></p>

Domestic Travel

Placeholder Content Image

Actor cops 20 years for biggest Ponzi scheme in Hollywood history

<p>Small-time actor Zachary Horwitz has admitted to operating a multimillion-dollar Ponzi scheme. He has been sentenced to 20 years in federal prison.</p><p>The United States Department of Justice said in a news release that Horowitz "raised at least US$650 million [aprox. $910 million] with bogus claims that investor money would be used to acquire licensing rights to films that HBO and Netflix purportedly had agreed to distribute abroad."</p><p>In October, Horowitz pleaed guilty to a United States federal securities fraud charge and admitted to running the Ponzi scheme. He was originally arrested in April 2021.</p><p>He received a 20 year sentence, and must pay more than US$230 million (approx. $322 million) in restitution.</p><p>Prosecutors said it was the biggest Ponzi scheme in Hollywood history.</p><p>The 35-year-old actor was accused of putting some of the money in his personal accounts and using the money for purchasing a personal residence for approximately US$5.7 million (approx. $8 million) in cash, taking trips to Las Vegas and flying on chartered jets, according to a complaint filed by the United States Securities and Exchange Commission.</p><p>Horwitz is better known by his stage name "Zach Avery," and has spent the past decade acting in around a dozen mostly low-budget films.</p><p><em>Image: Getty</em></p>

Legal

Placeholder Content Image

That reverse mortgage scheme the government is about to re-announce, how does it work?

<p>Many Australians have never heard of the <a href="https://www.servicesaustralia.gov.au/pension-loans-scheme">Pension Loans Scheme</a>, and many more assume it’s just for pensioners, which is understandable given its name.</p> <p>That’s why the government is poised to rename it the Home Equity Access Scheme and make the interest rate it charges more reasonable, in the mid-year budget update on Thursday.</p> <p>The soon to be renamed scheme is best thought of as a <a href="https://www.investopedia.com/mortgage/reverse-mortgage/">reverse mortgage</a> where instead of paying down a home loan each month, the homeowner borrows more against the home each month, paying off what’s borrowed when the home is eventually sold.</p> <p>Although reverse mortgages have been provided commercially for some time, the number of providers has shrunk as large banks have <a href="https://download.asic.gov.au/media/4851420/rep-586-published-28-august-2018.pdf">left the field</a> in the face of increased scrutiny and compliance costs.</p> <p>The government version is misleadingly named the Pension Loans Scheme (PLS), even though it is available to all retirees with homes and not just pensioners. It was introduced by the Hawke government in <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/FlagPost/2015/February/The_Pension_Loans_Scheme">1985</a>.</p> <p>The maximum amount that can be made available under the scheme and the age pension combined is <a href="https://www.servicesaustralia.gov.au/how-much-you-can-get-under-pension-loans-scheme?context=22546">150% of the full pension.</a> This means a retiree who is on the pension can get extra fortnightly payments from the scheme to bring their total payment up to 150% of the full pension.</p> <p>If the retiree is not on the pension they can get the entire amount of 150% of the pension via the PLS.</p> <p>The payments stop when the loan balance reaches a <a href="https://www.servicesaustralia.gov.au/maximum-loan-amount-under-pension-loans-scheme?context=22546">ceiling</a> which climbs each year the retiree gets older and climbs with increases in the value of the home.</p> <p>The ceiling for a 70-year old with a home worth $1,000,000 is $308,000.</p> <p>The key difference between the PLS and commercial reverse mortgages is that the size of its lump sum payments is limited. Payments under the PLS have no impact on the pension, whereas commercial reverse mortgages can trigger the means test.</p> <p><a href="https://images.theconversation.com/files/437703/original/file-20211215-13-kxrv2s.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/437703/original/file-20211215-13-kxrv2s.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="" /></a> <span class="caption"></span> <span class="attribution"><span class="source">Colin Zhang, Macquarie Business School</span></span></p> <p>As attractive as the PLS might appear, hardly any of the four million or so Australians aged 65 and over have taken it up, perhaps as few as <a href="https://newsroom.unsw.edu.au/news/business-law/budget-changes-make-pension-loans-scheme-more-attractive-senior-homeowners">5,000</a> – one in every 800.</p> <p>So in this year’s May budget the government announced two changes to make it more attractive.</p> <p>One was a “<a href="https://cdn.theconversation.com/static_files/files/1902/PLS_2021-22-budget-16_%281%29.pdf">no negative equity guarantee</a>”. Users would never be asked repay more than the value of their property, even if the property fell in value.</p> <p>The other was the ability to take out up to <a href="https://cdn.theconversation.com/static_files/files/1902/PLS_2021-22-budget-16_%281%29.pdf">two lump sums per year</a> totalling up to 50% of the full pension in addition to fortnightly payments.</p> <p>Total government payments would remain capped at 150% of the pension.</p> <h2>New brand, same scheme</h2> <p>That second change won’t begin until July 1, 2022 and is likely to be re-announced in Thursday’s mid-year budget update.</p> <p>Also announced in the budget was a decision to raise awareness of the scheme “through improved public messaging and branding” something which is also likely to be re-announced on Thursday along with the new name.</p> <p>The other change expected on Thursday is a lower interest rate charged on the sums borrowed. In January 2020, the rate was cut from 5.25% to 4.5% in accordance with cuts in other rates. From January next year it should reduce further to <a href="https://www.theaustralian.com.au/nation/politics/scott-morrison-opens-up-mortgage-loan-scheme-to-help-elderly-fund-their-own-retirements/news-story/9f8c56fbba899f6b76c72ce51ceb9331">3.95%</a>.</p> <h2>Attractive, but not riskless</h2> <p>There remain risks associated with taking advantage of the scheme.</p> <p>One is that if you live long enough you are likely to eventually hit the ceiling and be unable to take out any more money, suffering a loss of income.</p> <p>If you chose to sell your home and move to an aged care service, you need to use a big part of your sale proceedings to pay what’s owed.</p> <p>Other risks are that neither the interest rate nor home prices are fixed.</p> <p>Just as the government has cut the rate charged in line with cuts to lower general interest rates, it might well lift it when interest rates climb. And home prices can go down as well as up, meaning that, at worst, all of the value of your home (although no more) can be gobbled up in repayments.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><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; text-shadow: none !important;" src="https://counter.theconversation.com/content/171671/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><span><a href="https://theconversation.com/profiles/colin-zhang-1234147">Colin Zhang</a>, Lecturer, Department of Actuarial Studies and Business Analytics, <em><a href="https://theconversation.com/institutions/macquarie-university-1174">Macquarie University</a></em> and <a href="https://theconversation.com/profiles/ning-wang-1297929">Ning Wang</a>, Associate Research Fellow, <em><a href="https://theconversation.com/institutions/university-of-wollongong-711">University of Wollongong</a></em></span></p> <p>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/that-reverse-mortgage-scheme-the-government-is-about-to-re-announce-how-does-it-work-171671">original article</a>.</p> <p><em>Image: Shutterstock</em></p>

Real Estate

Placeholder Content Image

Calls for “life-changing” drug to be added to the PBS

<p><span style="font-weight: 400;">Cystic Fibrosis sufferers are calling for a “life-changing” drug to be added to the Pharmaceutical Benefits Scheme (PBS) so more of the 3500 affected Australians can access the treatment.</span></p> <p><span style="font-weight: 400;">Trikafta, produced by Vertex, currently costs Aussies $300,000 a year, meaning it is out of reach for most, including Ella Sawyer’s daughter, Evie.</span></p> <p><span style="font-weight: 400;">Diagnosed with the condition six weeks after she was born, Evie is now 12 and manages her condition with various medications, supplements, and twice-daily breathing exercises that help clear her chest.</span></p> <p><span style="font-weight: 400;">She is prone to long-lasting infections, takes enzymes with every meal and has increased calorie needs.</span></p> <p><span style="font-weight: 400;">Though Trikafta is already available and reimbursed in 17 countries, the decision to recommend its listing on the PBS has been deferred while experts on the Pharmaceutical Benefits Advisory Committee engage further with Vertex.</span></p> <p><span style="font-weight: 400;">In the meantime, the drug is available free of charge to critically ill patients with no other medicinal options, subject to specific eligibility criteria and on request by their doctor.</span></p> <p><span style="font-weight: 400;">Evie isn’t one of the 200 Australians who currently qualify, so she and her family are waiting for change.</span></p> <p><span style="font-weight: 400;">“It’s really, really frustrating that if you’re born with CF [cystic fibrosis], your access to the best treatment can be limited depending on where you are in the world,” her mother Ella Sawyer said.</span></p> <p><span style="font-weight: 400;">“If Ellie were to get the flu or another infection, she could have a big loss of lung function quite quickly whilst we wait for price negotiations to go on,” she added.</span></p> <p><span style="font-weight: 400;">“It’s just very frustrating when the quality of someone’s life comes down to a price.”</span></p> <p><span style="font-weight: 400;">The lack of access to Trikafta is putting lives at risk, according to Cystic Fibrosis Australia chief executive Nettie Burke.</span></p> <p><span style="font-weight: 400;">“We talk about having one of the greatest health systems here in the world,” Ms Burke said.</span></p> <p><span style="font-weight: 400;">“I think we do, but we can’t profess that when we can’t get drugs that have been in America for two years.”</span></p> <p><strong>Better quality of life</strong></p> <p><span style="font-weight: 400;">Ms Burke said recent trials of Trikafta have shown it to be a “life-changing” treatment.</span></p> <p><span style="font-weight: 400;">“People’s lives have definitely been extended, but their quality of life has been increased dramatically as well,” Ms Burke said.</span></p> <p><span style="font-weight: 400;">“One of the wonderful things we’ve seen from people overseas, or from those on trials, is that there’s a whole lot of babies being born.</span></p> <p><span style="font-weight: 400;">“Before, that wasn’t necessarily going to be the case because people were too unwell to have a family, but we’ve seen a big increase in babies.</span></p> <p><span style="font-weight: 400;">“So we know that Trikafta is working …. It’s incredible.”</span></p> <p><span style="font-weight: 400;">While negotiations continue between the PBAC and Vertex, Ms Burke and families of people with cystic fibrosis are calling for compassionate access to Trikafta to be given to all eligible patients.</span></p> <p><span style="font-weight: 400;">“We could save lives by getting access immediately,” Ms Burke said.</span></p> <p><span style="font-weight: 400;">The next update from the PBAC is due in August.</span></p> <p><em><span style="font-weight: 400;">Image: Nettie Burke / Twitter</span></em></p>

Body

Placeholder Content Image

Migraine patients set to save hundreds after costly drug revision

<p><span style="font-weight: 400;">The addition of migraine-preventing medication to the Pharmaceutical Benefits Scheme (PBS) has been hailed as a step in the right direction by advocacy groups.</span></p> <p><span style="font-weight: 400;">Emgality is used to prevent migraines in adults and is injected once a month by the patient.</span></p> <p><span style="font-weight: 400;">It can cost up to $1000 a month, but from June 1 eligible individuals will pay just $41.30 a script or $6.60 if they are a concession holder.</span></p> <p><span style="font-weight: 400;">Raphaella Crosby, the founding member of patient advocacy group Migraine Australia said the addition of the treatment to the PBS is a step in the right direction but that there’s still more work to do.</span></p> <p><span style="font-weight: 400;">“It does kind of pave the way because now that we’ve got one of these new medications on the PBS, there’s not much argument for listing the other ones,” Ms Crosby said.</span></p> <p><span style="font-weight: 400;">However, Ms Crosby said the number of people eligible for treatment would be limited by strict criteria.</span></p> <p><span style="font-weight: 400;">To be eligible, a person must meet the definition of suffering from chronic migraines, be under the care of a neurologist, have tried three older medications that failed, and not have received botox (a common treatment for migraines) under the PBS.</span></p> <p><span style="font-weight: 400;">“The line between episodic and chronic migraine is nonsense, it’s an arbitrary line that somebody drew at some point. It has no clinical meaning,” Ms Crosby said.</span></p> <p><span style="font-weight: 400;">According to research by Deloitte Access Economics in 2018, 4.9 million Australians live with migraines.</span></p> <p><span style="font-weight: 400;">Migraines disproportionately affect women as well, with 45 percent of women aged between 25 and 45 living with very active migraines that affect their ability to work, Ms Crosby said.</span></p> <p><span style="font-weight: 400;">“When the government talks about getting women back to work, to deny these drugs to women who aren’t completely debilitated by them is a bit counterproductive,” she said.</span></p> <p><span style="font-weight: 400;">“Because essentially what the restrictions are saying is ‘you need to be completely debilitated by your migraine before we’ll give you something that works’.”</span></p> <p><span style="font-weight: 400;">Emgality, made by pharmaceutical company Eli Lilly, belongs to a group of medications that block a particular protein associated with migraines, called calcitonin-gene-related peptide (CGRP).</span></p>

Body

Placeholder Content Image

4 reasons to avoid MLM schemes

<p><span style="font-weight: 400;">Whether you’re looking for an income boost or are strapped for cash, you’re likely to come across multi-level marketing (MLM) while figuring out your options.</span></p> <p><span style="font-weight: 400;">Multi-level marketing, also known as direct selling, is a form of direct sales where salespeople who aren’t employees of the company and don’t receive a salary or wage are used to distribute products or services.</span></p> <p><span style="font-weight: 400;">These companies often sell wellness and cosmetic products - such as essential oils, supplements, and skincare products.</span></p> <p><span style="font-weight: 400;">Recruiters of MLMs often target vulnerable people with promises of flexible working hours, getting to be your own boss, and being able to “get rich quick”.</span></p> <p><span style="font-weight: 400;">In situations where money is tight, it’s easy and understandable to be susceptible to that kind of temptation.</span></p> <p><span style="font-weight: 400;">To combat the stigma and dispel the myths around MLMs, here are four reasons why they may not be the solution.</span></p> <p><strong>#1 You have a 99.7 percent chance of losing money</strong></p> <p><span style="font-weight: 400;">Though some MLM recruits say their income allows them to travel the world and buy new cars, the representative body for direct selling, Direct Selling Australia, says otherwise.</span></p> <p><span style="font-weight: 400;">“Direct selling isn’t about buying boats or bigger houses … [rather] earning additional income that contributes to school fees, weekly groceries, saving for a holiday and bills.”</span></p> <p><span style="font-weight: 400;">But even that is a reach for most members.</span></p> <p><span style="font-weight: 400;">Gerard Brody, CEO of Consumer Action Law Centre, said more than 99 percent of recruits will lose money, going against the wealthy lifestyle MLMs claim to fund.</span></p> <p><span style="font-weight: 400;">Professor David Wishart, who has researched the dangers that come with MLMs, said it’s important to remember these companies “don’t operate within the social contract that business has with society”.</span></p> <p><span style="font-weight: 400;">“If you are in business, yes you look after your own needs, but there are limits and morality - everyone is supposed to have that,” Professor Wishart said.</span></p> <p><span style="font-weight: 400;">“[MLM recruits] operate outside of that.</span></p> <p><span style="font-weight: 400;">“People down the end are simply ripped off. It’s a bad taste capitalism.”</span></p> <p><strong>#2 It could cost you your friendships</strong></p> <p><span style="font-weight: 400;">Members of MLMs often rely on their existing relationships with friends and family, but it can come at a cost.</span></p> <p><span style="font-weight: 400;">“Many people become frustrated with friends attempting to ‘commodify’ their emotional connection,” said Marie O Sullivan, a lecturer in marketing at the Cork Institute of Technology who has studied MLMs from a feminist perspective.</span></p> <p><span style="font-weight: 400;">Dr O Sullivan also said some of these companies encourage members to cut ties with those who don’t support them.</span></p> <p><span style="font-weight: 400;">“Participants are encouraged to cut out anyone who expresses doubt as this negativity will prevent them from achieving their full potential.”</span></p> <p><strong>#3 You’re blamed for failing, despite working hard</strong></p> <p><span style="font-weight: 400;">With many MLMs pushing the idea that the harder you work, the more you earn, many are left feeling shame when they don’t make it in direct selling, Dr O Sullivan explained.</span></p> <p><span style="font-weight: 400;">Sara Balanuik, who had sold weight-loss products for a MLM in the past, recalled: “I hustled hard but was still not a successful boss babe, as was promised.”</span></p> <p><span style="font-weight: 400;">She was told by her “upline” that she wasn’t seeing the results promised because she wasn’t working hard enough.</span></p> <p><span style="font-weight: 400;">This kind of business model sets people up to fail, according to Anna Jenkins, a senior lecturer in entrepreneurship at the University of Queensland.</span></p> <p><span style="font-weight: 400;">“It’s very, very important for all potential sellers to make themselves aware of the statistics around MLMs,” she said.</span></p> <p><strong>#4 It can be an ethical conundrum</strong></p> <p><span style="font-weight: 400;">While MLMs aren’t strictly illegal - unlike pyramid schemes - they can be ethically dubious.</span></p> <p><span style="font-weight: 400;">Many MLMs use a business model that focuses on recruiting “downline” - meaning they get new distributors to buy the product - rather than selling products to actual customers, making them similar to pyramid schemes.</span></p> <p><span style="font-weight: 400;">“While there are many genuine underlying economic activities involved in these schemes, they commonly operate to benefit those at the top. And disadvantage those at lower levels,” Mr Brody said.</span></p> <p><span style="font-weight: 400;">Professor Wishart recommended doing your due diligence on the company before deciding to join their ranks.</span></p> <p><span style="font-weight: 400;">“Read what you’re in for. Work out what the terms are.</span></p> <p><span style="font-weight: 400;">“Look at the product and the sales commission you get on it. Compare the product with what else is on the market. Nobody buys Tupperware anymore as there is stuff that is just as good.”</span></p>

Retirement Income

Placeholder Content Image

Woolies shoppers warn of major $250 voucher scam

<p>Woolworths customers are being warned to avoid a major scam email that can be easy to fall for.</p> <p>The email has made its way into the inboxes of many unsuspecting customers and appears to have the supermarket’s branding to inform customers that they have the opportunity to receive a $250 Woolies gift card for just $1.</p> <p>Customers are told the voucher will be delivered through mail in just three days, as long as a first name, last name, postcode, and credit card details are provided.</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7841474/woolies-2.jpg" alt="" data-udi="umb://media/5c5ffdb3eb4e43209ae93bfc78741f96" /></p> <p>The phishing scam is just one of the latest that have been dropped into the inboxes of naïve, unsuspecting shoppers.</p> <p>Website criminals use highly sophisticated scams that trick customers into giving out personal information.</p> <p>Woolworths told <a href="https://au.news.yahoo.com/woolworths-shoppers-warned-over-250-voucher-scam-003535085.html"><em>Yahoo News Australia</em></a> the emails that claim to be offering the $250 voucher is not an authorised message from the supermarket.</p> <p>"As always, we encourage our customers to be vigilant of online and text phishing scams, which seek to imitate well-known brands to collect personal information," a spokesperson said in a statement.</p> <p>"We never ask customers for their personal or banking details in unsolicited communications."</p>

Caring

Placeholder Content Image

Government prepared to hand out restaurant vouchers to families

<p>The NSW government may hand out restaurant vouchers to families in a bid to boost the economy. </p> <p><em><a rel="noopener" href="https://www.theaustralian.com.au/nation/politics/coronavirus-mealticket-plan-to-get-economy-cooking/news-story/9806e3f5f422b7a4e188d7bd8b8a1e1f" target="_blank">The Australian</a> </em>first reported the scheme, claiming it would be a part of the state’s budget plan.</p> <p>Treasurer Dominic Perrottet is reportedly considering the plan and a decision will be made in the coming weeks.</p> <p>The proposal is set to cost about $500 million and vouchers would only be given to residents older than 18.</p> <p>Families will receive the full voucher amount and single person households will receive $50.</p> <p>Speaking to<span> </span><em>2GB’s<span> </span></em>Ben Fordham, Gladys Berejiklian said she could not confirm or deny whether the voucher scheme will go ahead.</p> <p>“We are still putting finishing touches on the budget,” she said on Friday morning.</p> <p>“But I want (people) to be assured of one thing … we get how tough it is for a lot of people at the moment.</p> <p>“We’re hoping to take care of everybody who’s going through those difficult times,” the Premier added in reference to the NSW budget.</p> <p>The measure has reportedly already been signed off by the government’s Expenditure Review Committee, which is chaired by Mr Perrottet.</p> <p>However the decision is yet to be put to cabinet, the publication reported.</p> <p>The state’s COVID-19 budget will be handed down on November 17.</p>

Food & Wine

Placeholder Content Image

Eagle-eyed Coles shopper spots little detail on roast chicken voucher

<p>An eagle-eyed Coles shopper has pointed out a virtually unknown fact about the supermarket's popular hot roast chicken vouchers.</p> <p>The vouchers allow customers to collect a voucher for a free hot chicken if none are currently available in store.</p> <p>The voucher states that it must be used within seven days of the date it was issued and isn't valid at Coles Express or via Coles Online.</p> <p><img id="__mcenew" src="https://oversixtydev.blob.core.windows.net/media/7838390/coles-body.jpg" alt="" data-udi="umb://media/b1719d449cbf4c70a5c717aeaa75d18d" /></p> <div class="post_body_wrapper"> <div class="post_body"> <div class="body_text redactor-styles redactor-in"> <p>However, the shopper pointed out that it's important to check the sticker advertising the promise on the hot chicken display at their local Coles.</p> <p>The sticker tells customers the times the voucher is valid between and they're different at every store.</p> <p>This dedicated shopper went to different Coles to prove their point.</p> <p>At one supermarket, the sign states: “If you’ve missed out on a Coles hot roast chicken between 9 am to 8pm, your next one is FREE.”</p> <p>At another Coles, the sign indicates that the promise is only available between “11 until close”.</p> <p>The shopper warned other customers to be aware of the differences before asking for the free voucher.</p> <p>“Just make sure you check the sticker on the display before asking for a free voucher,” said the shopper.</p> <p>“If you’re there before or after the times that are indicated then you aren’t eligible for a free hot chook.”</p> <p><em>Photo credit: </em><em><a rel="noopener" href="https://7news.com.au/lifestyle/food/coles-shopper-spots-little-known-detail-on-free-hot-roast-chicken-voucher-c-1428230" target="_blank" class="editor-rtflink">7News</a></em></p> </div> </div> </div>

Food & Wine

Placeholder Content Image

Why one man's bulk buying hand sanitiser scheme failed

<p>A man in America, Noah Colvin, bought 17,700 bottles of hand sanitiser with the intention of reselling them on Amazon for a profit, but the tech giant has put a stop to that immediately.</p> <p>Amazon has cracked down on pandemic price gouging, which resulted in the company suspending Colvin’s account.</p> <p>He drove over 2,000 kilometres across Tennessee, stocking up on hand sanitiser and sanitary wipes but is now unable to get rid of the excess of goods.</p> <p>He’s not the first account to be suspended, with Amazon removing hundreds of thousands of listing of people trying to price gouge items others are looking for, including respiratory masks.</p> <p>Colvin said to<span> </span><a rel="noopener noreferrer" href="https://www.nytimes.com/2020/03/15/technology/matt-colvin-hand-sanitizer-donation.html" target="_blank"><em>The New York Times</em></a><span> </span>that the whole experience has been a “huge amount of whiplash”, as he was able to sell 300 bottles at a markup before the company suspended his account.</p> <p>However, Colvin has since donated all of the supplies on Sunday just as the Tennessee attorney general’s office began investigating him for price gouging.</p> <p>He helped volunteers from a local church load two-thirds of the stockpile of hand sanitiser and antibacterial wipes into a box truck that will distribute the goods across the state to those who need them.</p> <p>“I’ve been buying and selling things for 10 years now. There’s been hot product after hot product. But the thing is, there’s always another one on the shelf,” he said.</p> <p>“When we did this trip, I had no idea that these stores wouldn’t be able to get replenished.”</p> <p>After receiving hate mail and death threats after<span> </span><a rel="noopener noreferrer" href="https://www.nytimes.com/2020/03/14/technology/coronavirus-purell-wipes-amazon-sellers.html" target="_blank"><em>The New York Times</em></a> published an article about him, Colvin has since expressed remorse for his actions.</p> <p>“It was never my intention to keep necessary medical supplies out of the hands of people who needed them,” he said, crying. “That’s not who I am as a person. And all I’ve been told for the last 48 hours is how much of that person I am.”</p> <p>Tennessee’s price gouging laws are strict and prohibit charging “grossly excessive” prices for a range of items, including medical supplies. People can be fined up to $1,000 per violation, and the attorney general’s office sent Colvin a cease-and-desist letter as well as opening up an investigation.</p> <p>“We will not tolerate price gouging in this time of exceptional need, and we will take aggressive action to stop it,” Attorney General Herbert H. Slatery III of Tennessee said in a news release.</p>

Money & Banking

Placeholder Content Image

Why seniors need to think carefully before leaping into the Pension Loans Scheme

<p dir="ltr"><strong>At first glance, it seems like a good idea – supercharge an existing Australian Government scheme to make it easier for retirees to turn the equity in their home into regular cash payments.</strong></p> <p>The expanded<span> </span><a rel="noopener" href="https://www.humanservices.gov.au/individuals/services/centrelink/pension-loans-scheme/who-can-get-it" target="_blank">Pensions Loans Scheme</a>, which came into effect on 1 July 2019, allows retirees to access a fortnightly amount representing 150 per cent of the maximum pension payment, via a government loan secured against their home.</p> <p>A 5.25 per cent interest rate will apply to the loan, which will need to be paid back to the government when the home is eventually sold.</p> <p>The government expanded the scheme by making it available to self-funded retirees as well as pension recipients and increasing the amount which could be borrowed from 100 per cent to 150 per cent of the maximum fortnightly pension rate.</p> <p>The scheme does look particularly attractive in a low interest rate environment, where retirees are struggling to create a strong and safe income stream from their savings. </p> <p>However, retirees will need to think carefully before they sign up to the scheme, as it does have a number of potential pitfalls. We’ve laid them out for you here:</p> <p><strong><em>Doesn’t promote ‘fit for purpose’ housing for seniors</em></strong></p> <p>Many pensioners are living in older-style homes, which were designed for active and young families. These homes are less suitable for elderly people, often because they contain stairs, trip hazards and don’t cater for people with reduced mobility.</p> <p>This government scheme will encourage pensioners to stay in these unsuitable homes, when it is perhaps preferable to be providing incentives for them to move to newer, safer and more comfortable housing stock.</p> <p>For instance, many newer homes are built to<span> </span><a rel="noopener" href="http://www.livablehousingaustralia.org.au/" target="_blank">Livable Housing Australia</a><span> </span>standards, which includes requirements for level pathways to the front door, easy-access shower cubicles, slip-resistant flooring and electrical powerpoints elevated from the skirting board. </p> <p><strong><em>This scheme won’t help with housing affordability</em></strong></p> <p>Across Australia, there are estimated to be<span> </span><a rel="noopener" href="https://www.downsizing.com.au/news/347/Empty-bedrooms-in-the-homes-of-over-50s-could-help-solve-Australias-affordable-housing-crisis" target="_blank">millions of empty bedrooms</a>, largely due to ‘empty nesters’ living in homes well after the children have left home. These bedrooms are going to waste when they could be providing housing for those who need it.</p> <p><a rel="noopener" href="https://www.downsizing.com.au/news/347/Empty-bedrooms-in-the-homes-of-over-50s-could-help-solve-Australias-affordable-housing-crisis" target="_blank">A survey by Downsizing.com.au and LJ Hooker in 2017</a><span> </span>revealed the extent of the problem.</p> <p>Just under 90% of survey respondents said they had a spare bedroom available in their current home which no-one regularly occupies. Incredibly, one in five respondents said they had three spare bedrooms and four out of ten said they had two spare bedrooms.</p> <p>Encouraging pensioners to stay in their home will continue and exacerbate this national empty bedrooms problem, by locking up older, larger homes which could be better occupied by younger and growing families.</p> <p><strong><em>It could lead to loneliness</em></strong></p> <p>Like many other developed countries, Australia has an acute loneliness problem.<span> </span><a rel="noopener" href="https://theconversation.com/one-in-four-australians-are-lonely-which-affects-their-physical-and-mental-health-106231" target="_blank">A major study released last year<span> </span></a>found one in two (50.5%) Australians feel lonely for at least one day in a week, while more than one in four (27.6%) feel lonely for three or more days. The UK Government has even launched its own<span> </span><a rel="noopener" href="https://www.gov.uk/government/news/pm-launches-governments-first-loneliness-strategy" target="_blank">Loneliness Strategy</a>, arguing that it is one of the greatest public health challenges of our time.</p> <p>As mentioned above, there are millions of empty bedrooms in homes occupied by elderly people across Australia. </p> <p>These bedrooms are empty for a very good reason – the family (and sometimes also a partner) are no longer living there. This can be a very lonely experience and also not a safe one during times of ill-health.</p> <p>Retirees may be better moving into retirement communities, where they can be part of a vibrant and supportive community, rather than utilising the Pension Loans Scheme and staying alone in their homes.</p> <p><strong><em>Scheme doesn’t help people with large mortgages</em></strong></p> <p>This scheme also may not help the increasing numbers of seniors who are arriving into retirement with a large mortgage and are struggling with repayments.</p> <p>The<a rel="noopener" href="https://www.pc.gov.au/research/completed/housing-decisions-older-australians" target="_blank"><span> </span>Housing Decisions of Older Australians</a><span> </span>report by the Productivity Commission, shows that around 30 per cent of Australians aged more than 55 in 2011 had an outstanding mortgage on their home, compared to around 15 per cent in 2001. </p> <p>Recent economic data has shown this<span> </span><a rel="noopener" href="https://www.downsizing.com.au/news/566/How-downsizing-is-a-growing-mortgage-busting-option-in-retirement" target="_blank">problem has worsened since 2011</a>.</p> <p>Although it is possible to utilise the Pension Loans Scheme when there is an existing mortgage on the property, this may not be the best solution.</p> <p>This is particularly the case if the ongoing mortgage payments eat up the increased income which will come from the scheme. </p> <p>The best way to deal with this problem<span> </span><a rel="noopener" href="https://www.downsizing.com.au/news/566/How-downsizing-is-a-growing-mortgage-busting-option-in-retirement" target="_blank">may be to sell the property to allow the mortgage to be removed, or to find other ways to get rid of the mortgage debt</a>.</p> <p><em>Using the scheme for a long period could cut into your home value</em></p> <p>The Pension Loans Scheme is based on a 5.25 per cent interest rate, that compounds fortnightly on the outstanding loan balance. </p> <p><a rel="noopener" href="https://www.humanservices.gov.au/individuals/services/centrelink/pension-loans-scheme/how-much-you-can-get/interest-rate" target="_blank">As the government’s website explains</a>, this means that if you use the loan to get a fortnightly payment of $750, after 15 years you will have a total loan balance of $445,000 (of which some $152,000 represents interest).</p> <p>That sort of amount is likely to represent a pretty big whack on any inheritance which goes to the children.</p> <p>As<span> </span><a rel="noopener" href="https://corporate.amp.com.au/newsroom/2019/june/changes-to-pensioners-loan-scheme-set-to-boost-retiree-bank-bala" target="_blank">AMP Technical Strategy Manager John Perri</a><span> </span>explains: “When the family home is sold, the amount owed will be deducted from the sale price of the home.”</p> <p>“For retirees the Pensioners Loan Scheme provides an opportunity to free up some equity that they have in their home. This may help bridge the funding gap while looking to secure aged care or while they await an<span> </span><a rel="noopener" href="https://www.myagedcare.gov.au/assessment/prepare-your-assessment" target="_blank">ACAT assessment</a>.</p> <p dir="ltr">“The downside is that their estate often will be left to pay the outstanding loan, potentially leaving less inheritance to the kids. Retirees should carefully consider their personal situation to work out if this is a viable option for them.”</p> <p dir="ltr"><strong>Conclusion</strong></p> <p>There is no question that government intervention is required to help support ‘asset rich cash poor’ retirees to fund living expenses in later years.</p> <p>The government’s reverse mortgage scheme may offer a helpful temporary solution for some people. This could be after a sudden financial change, ill-health or the death of a partner, or while pensioners are transitioning into alternative accommodation.</p> <p>But in the longer-term, it may not be the best solution. </p> <p>In fact, it could encourage people to stay in large unsuitable homes and be increasingly housebound, lonely and socially isolated, while at the same time being in a scheme which may eat into the inheritance they want to give their children or doesn’t help them remove an unwanted mortgage.</p> <p>The early evidence is that seniors are not convinced about the scheme.<span> </span><a rel="noopener" href="https://issuu.com/yourlifechoices/docs/retirement_affordability_index_june?fr=xKAEwAT3_NTU1" target="_blank">A recent survey by website YourLifeChoices</a><span> </span>found that 87 per cent of seniors would not borrow through the Pension Loans Scheme, compared to 13 per cent who would.</p> <p>To this end, it would be helpful if the Federal and State Governments offered incentives for retirees to unlock equity by selling the family home and downsizing into a more suitable property. This would help retirees to access funds from their property, and at the same time enjoy the many benefits of downsizing.</p> <p>These incentives could include changes to the pensions asset test, increasing housing supply for retirees and stamp duty reductions or waivers.</p> <div class="body-container"> <div> <p><em>Written by Mark Skelsey. Republished with permission of </em><a rel="noopener" href="https://www.downsizing.com.au/news/573/Why-seniors-need-to-think-carefully-before-leaping-into-the-Pension-Loans-Scheme" target="_blank"><em>Downsizing.com.au</em></a><em>.</em></p> </div> </div>

Retirement Income

Our Partners

Over 60

© Copyright 2024 OverSixty.All Rights Reserved.