Money Australia digital subscription

LETTER OF THE MONTH Moral of the story Your profile on Paul Adam, pastry chef, chocolatier and owner of Du Plessy Pralin & Otello, ‘Hot Cake Sensation’ (July issue) was so heartening. It had all the aspects of a good business story. Hard work, entrepreneurship, integrity, happy customers, a bit of luck, and above all proof of what my dad used to tell me: “Build a better mousetrap and the world will beat a path to your door”. More stories like this, please! David HAVE YOUR SAY AND WIN A FREE SUBSCRIPTION Our letter of the month winner will receive a free 12-month subscription to Money magazine. High praise indeed I always read Mark Chapman's ‘Tax Tip’ column and, although it may not always apply to me, his chosen tax…

TOM WATSON Contributor In an ideal world, the rules and accountability mechanisms in our institutions would be enough to keep them on track. But even in the most well-meaning organisations that's not always the case. It doesn't matter if it's the government, a company or a regulator – scrutiny and input from the general public, media or elsewhere is healthy. Think of a tree where good governance is the roots and public pressure is the sunlight. It's difficult for it to thrive without both. See Tom's story on ASIC, p50. PAM WALKLEY Contributor The Robodebt scheme raised more than half a million inaccurate Centrelink debts through a method of ‘income averaging’, which has since been ruled unlawful. Whistleblowers and advocates combined with the media to shine a light on the scandal…

My nine-year-old daughter came into the living room last week and started climbing the IKEA bookcase to get to the craft materials stored on top. Luckily, the bookcase was secured to the wall so the bookcase – and my daughter – were unharmed. It was a reminder to me that the IKEA effect is alive and well in our household. The IKEA effect, for those not in the know, is the observation that people value their IKEA furniture much more when they put it together themselves. Sure, it can be frustrating following those confusing diagrams but the end result? Pure satisfaction, even if the leg is a little wobbly. For the past few days, I've been using regression analysis to deconstruct the style factors embedded in Australian equities ETFs. I…

CALENDAR OF EVENTS Thursday, Sept 4 Balance of trade Wednesday, Sept 10 Westpac consumer confidence index Thursday, Sept 18 Unemployment rate Tuesday, Sept 30 RBA interest rate decision Credit where credit is due Love it or hate, credit makes the world go round. That might be a slight exaggeration, but credit's prevalence in today's world is hard to deny. Not everyone can dip into their savings to pay for every purchase they make. For most, big-ticket items such as cars or property would be entirely out of reach without borrowed money. As of May this year, there were 12.1 million credit card accounts in Australia, according to Reserve Bank data. Adding to that, Australian Institute of Health and Welfare research found that more than a third of households (3.3 million)…

While it's normal to think that menopause only affects women, the reality is that it isn't just a women's issue – it affects families, workplaces and communities. Menopause causes many women to reduce their working hours or leave the workforce prematurely. These changes result in lower lifetime earnings, reduced super balances and compromised retirement outcomes. Based on MetLife's research, on average, Australian women have lost $1.5 billion in earnings per year from time off work due to menopause symptoms. The research further shows that women typically reduce hours, pass on promotions, or leave work altogether, adding to worry about not having enough money at retirement. It's clear from our research that menopause needs as much financial understanding as other facets of building a strong financial foundation. This brings into focus…

If you use your car for business or work purposes and use the ATO's cents-per-kilometre method to calculate your tax deduction, you need to know how much to claim. For 2025-26, the amount is 88 cents per kilometre, unchanged from 2024-25. With the cents-per-kilometre method you can claim a maximum of 5000 business kilometres per vehicle. If you use this standard rate, you don't need to keep a detailed logbook of your journeys or receipts to cover the money you spent on your business journeys because this method takes the place of individual claims you would make for things like fuel, servicing, insurance and depreciation of the cost of the car. To work out how much you can claim, simply multiply the total business kilometres travelled by the cents per…

BOOK OF THE MONTH WHAT WOULD ADAM SMITH MAKE OF MODERN AUSTRALIA? by Joseph Healy (Major Street, $32.99) Australia is not a level playing field, according to author and economic thinker Joseph Healy. Too many people are getting smaller and smaller pieces of this country's growing economic pie, while a handful are getting far more than they can possibly eat. The result is a decline in the wellbeing of Australian society, which is having a negative impact on family life, mental health, and education among others. Drawing on the works of 18th-century Scottish writer and ‘Father of Economics’ Adam Smith, Healy offers an interesting perspective on how to shape a better and more equitable future. Five readers can win a copy. In 25 words or less, tell us one thing…

MORE MONEY STORIES ON P46-63 Nearly a million Australian banking customers on lower incomes will receive refunds after being charged ‘excessive’ transaction account fees by their banks. The announcement was made by the Australian Securities and Investments Commission (ASIC) in conjunction with the release of a new report focusing on the impact of fees on low-income customers. ASIC found that millions of people on lower incomes – many of whom rely on concession payments from the government – have been repeatedly stung by bank fees after being left in high-fee accounts when more cost-efficient options were available. In one example cited by the regulator, a single parent from South Australia was charged $2645 in overdraft fees (which has since been refunded) by Westpac. $50M The amount of money customers who have…

Clearing out a loved one's home after they've moved into aged care or passed away is no easy undertaking. It can involve substantial effort and emotion. Australians are being warned against rushing the job. Bob Morton, director of home clearance firm the Property Clearance company, says that people don't always appreciate the value of their loved ones' belongings. “People assume it's just clutter, but many don't realise they're sitting on collectables, retro furniture, vintage tech and memorabilia that are highly sought after. “We've seen people throw out rare Mid-century chairs, antique clocks and first-edition books, only to discover they were worth hundreds or thousands.” While the value of designer handbags and watches may be more obvious, Morton says that items such as old radios and tools can attract interest from…