logo
BYD Atto 2 and Flagship Sealion 8 Set to Shake Up Australia

BYD Atto 2 and Flagship Sealion 8 Set to Shake Up Australia

Man of Many2 days ago

By Somnath Chatterjee - News
Published: 19 June 2025
Share Copy Link
Readtime: 5 min
Every product is carefully selected by our editors and experts. If you buy from a link, we may earn a commission. Learn more. For more information on how we test products, click here.
Chinese automaker BYD has confirmed that the Atto 2 compact vehicle and the flagship Sealion 8 will be arriving in Australia.
and the will be arriving in Australia. The Atto 2 will slot in between the Dolphin and the Atto 3, with expected pricing to be sub-$35,000 .
. Sealion 8 PHEV will serve as BYD's new three-row flagship SUV .
. Both launches are scheduled in the next few months, with the Atto 2 to arrive first.
It is no secret that BYD plans to dominate the Australian automotive market. Over the past few years, the Chinese automaker has steadily rolled out new budget-conscious models, surprisingly spacious lifestyle vehicles and a flagship release or two, but in 2025, BYD is stepping up its game. After moving from a private distributor to an in-house model, the brand is aggressively expanding its Australian presence, starting with the newly unveiled Atto 2 and Sealion 8.
Both new vehicles, which operate on separate ends of the BYD spectrum, represent lucrative product launches for the ever-expanding BYD clientele. Better still, both new vehicles are expected to land Down Under in the 'next few months', meaning the rest of the industry better watch out.
BYD Atto 2 confirmed for Australia | Image: BYD Automotive
BYD Atto 2
As the brand's latest small SUV, the Atto 2 promises to further democratise EVs for Australian consumers, namely through price and convenience. The small but conservatively styled vehicle represents BYD's new entry-level crossover for the Australian market and essentially uses the same underpinnings as the Dolphin, albeit in a more universally appealing SUV body style.
Two trims will be available from launch, Essential and Premium, both of which utilise a front motor with an output of 130kW/290Nm. BYD has noted a claimed range of 401km with a 51.3 kWh LFP battery; however, you can expect a more realistic figure of 300km on the WLTP test.
BYD Atto 2 interior | Image: BYD Automotive
Features
Impressively, while the Atto 2 might be BYD's entry-level SUV, the feature list is far from bare-bones. According to Wing You, BYD Australia general manager, the new vehicle will arrive with staple brand additions such as a 12.8-inch touchscreen, 360-degree camera, and ADAS.
'With its exciting looks, superlative technology, and eminent versatility, the Atto 2 promises to be a game-changer in the small-size SUV segment,' Wing You said. 'The Atto family of vehicles is expanding in Australia, and we're confident this latest addition will be well received by local buyers.'
Atto 2 Pricing
While BYD has not officially confirmed the pricing, the expectation is that the new small SUV will be a step up from the $29,990 Dolphin. That being said, it could quite easily take the title of being the most affordable Chinese SUV by undercutting the likes of the Chery E5 ($39,990 before on-road costs) and the MG S5 (costing $40,490). In other words, it could be the most popular BYD SUV by occupying the sweet spot between the Dolphin and the Atto 3.
BYD Sealion 8 confirmed for Australia | Image: BYD Automotive
BYD Sealion 8
Meanwhile, BYD continues to enter the premium luxury segment with its largest product yet, while also ticking the box for a three-row SUV. The massive Sealion 8 is a plug-in hybrid SUV with a 110kW, 1.5-litre turbocharged petrol engine that comes with either a front wheel drive configuration in the DM-i (Intelligence) hybrid trim with a 200kw electric motor plus a 19kW battery or the all-wheel drive DM-p (Performance) hybrid variant which adds a second 141kW motor at the rear axle while having a larger 35.6kWh battery. With a bigger battery pack than the Shark Ute, expect the pure electric range to surpass the pick-up at more than 100km.
BYD Sealion 8 Performance
In terms of performance, the large Sealion 8 DM-p has plenty of firepower with a claimed 0-100 km/h time of 4.9 seconds, which is remarkably close to the smaller Sealion 7. The interiors, meanwhile, are plush, and you need not have to get these eccentric leather colours, but the cabin would be decked out with massage, heated and cooled seats for both the front and second row. It will also be the most cavernous BYD with a large storage capacity. Expect the pricing of the Sealion 8 to be north of $80,000 when it goes on sale here, and that means it will fight head-on with the Kia Sorento PHEV.
BYD Sealion 8 interior | Image: BYD Automotive
'We've listened to our customers. We know the desire is here for a proper full-size, seven-seater PHEV SUV,' Wing You, BYD Australia general manager said. 'We're incredibly proud of what the SEALION 8 will represent for BYD in Australia. It's going to be a flagship model for us, and, in classic BYD fashion, it will exceed the consumers' expectations for tech, luxury, and value.'
The Atto 2 will come towards the end of the year and the Sealion 8 will be launched by early next year while the launches will not stop there either as BYD looks to fill in all the gaps in its product range by introducing an even smaller car below the Dolphin which is the Seagull or Dolphin Mini. Plus, off-road fans would rejoice at the prospect of the Denza sub-brand, which brings an array of rugged SUVs. It seems BYD wants to clearly increase its market share in Australia over the next few years and will not stop until it does so.
BYD Atto 2 confirmed for Australia | Image: BYD Automotive

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Why Ford thinks its Ranger PHEV doesn't need a bigger battery than Shark 6, Cannon Alpha
Why Ford thinks its Ranger PHEV doesn't need a bigger battery than Shark 6, Cannon Alpha

The Advertiser

timean hour ago

  • The Advertiser

Why Ford thinks its Ranger PHEV doesn't need a bigger battery than Shark 6, Cannon Alpha

Ford says its new Ranger PHEV ute is the 'best tool for the job', despite it failing to match key rivals on battery capacity, power, and electric driving range. Launched in the Australian market last month ahead of imminent customer deliveries, plug-in hybrid versions of the Ranger are propelled by the combination of a 2.3-litre turbo-petrol four cylinder engine and a rear-mounted electric motor, producing a combined 207kW of power and 697Nm of torque. The electric motor sources power from an 11.8kWh lithium-ion battery, which caps the ute's electric driving range at a claimed 49km on the NEDC cycle. The Ranger PHEV is one of three plug-in hybrid utes now available Down Under, alongside the BYD Shark 6 and GWM Cannon Alpha PHEV. Both Chinese rivals outgun the Ranger on power, EV range and fuel-efficiency, calling into question the competitiveness of Ford's newest model. However, Ford is hanging its hat on the Ranger PHEV's superior payload and towing capacity. All variants can tow up to 3500kg, and payloads range between 808-973kg. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The Cannon Alpha equals Ford's Ranger in the towing stakes, but neither the GWM (790kg) nor the BYD (685kg) promise an equivalent payload. It's those attributes that local ute buyers value most, according to senior Ford product executive, Jim Baumbick. "We've always tried to develop the best tool for the job," Mr Baumbick told Australian media at the international launch of the Ranger PHEV. "When you talk to truck customers they want payload and towing. EV range matters, but in context when you're adding more battery you're working counter to the payload and towing. "You can increase the battery size, but then you have to increase the size of other parts to carry that weight. It's about system optimisation. We think it's the right balance for a first application." Ford is also spruiking the vehicle-to-load charging capabilities (V2L) of the Ranger PHEV. It features a pair of 15A power outlets, which allow owners to plug electrical applicances into the vehicle to use it as a generator. Ford dubs this 'Pro Power Onboard' and it offers a total capacity of 6900W, which exceeds the capacity of both the Shark 6 and Cannon Alpha PHEV. Ultimately, Ford has attempted to create an electrified version of Australia's best-selling vehicle that outperforms its diesel stablemates while staying true to the roots of the Ranger brand. "The PHEV isn't just an alternative, it can do everything the diesel can do and then some. The truck is more capable because it's a hybrid. It still does truck things but there's a new thing it can do with exportable power," said Mr Baumbick. "For us, it was about optimising the system for performance, towing and capability. Our target was diesel [performance] or better. "It offers hybrid propulsion, [better] fuel economy, and the superpower of Pro Power Onboard. "It's the right time for a PHEV, and unlocking this new superpower for Ranger. This is going to show our customers the benefits of electrification without any tradeoff to what the truck is capable of." Of the three PHEV utes now available in Australia, the Ranger is the most expensive – the base XLT is priced from $71,990 before on-road costs, more than the most expensive Cannon Alpha PHEV and Shark 6. BYD has already reacted to the arrival of the Ranger PHEV, stating it's not worried about the new electrified ute. "I wouldn't say that we're worried," BYD Australia senior product planning manager, Sajid Hasan told CarExpert. "We respect them, direct competitors, but we're more focused on ourselves and working to expand the Shark 6 lineup and see where that takes us." MORE: Explore the Ford Ranger showroom Content originally sourced from: Ford says its new Ranger PHEV ute is the 'best tool for the job', despite it failing to match key rivals on battery capacity, power, and electric driving range. Launched in the Australian market last month ahead of imminent customer deliveries, plug-in hybrid versions of the Ranger are propelled by the combination of a 2.3-litre turbo-petrol four cylinder engine and a rear-mounted electric motor, producing a combined 207kW of power and 697Nm of torque. The electric motor sources power from an 11.8kWh lithium-ion battery, which caps the ute's electric driving range at a claimed 49km on the NEDC cycle. The Ranger PHEV is one of three plug-in hybrid utes now available Down Under, alongside the BYD Shark 6 and GWM Cannon Alpha PHEV. Both Chinese rivals outgun the Ranger on power, EV range and fuel-efficiency, calling into question the competitiveness of Ford's newest model. However, Ford is hanging its hat on the Ranger PHEV's superior payload and towing capacity. All variants can tow up to 3500kg, and payloads range between 808-973kg. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The Cannon Alpha equals Ford's Ranger in the towing stakes, but neither the GWM (790kg) nor the BYD (685kg) promise an equivalent payload. It's those attributes that local ute buyers value most, according to senior Ford product executive, Jim Baumbick. "We've always tried to develop the best tool for the job," Mr Baumbick told Australian media at the international launch of the Ranger PHEV. "When you talk to truck customers they want payload and towing. EV range matters, but in context when you're adding more battery you're working counter to the payload and towing. "You can increase the battery size, but then you have to increase the size of other parts to carry that weight. It's about system optimisation. We think it's the right balance for a first application." Ford is also spruiking the vehicle-to-load charging capabilities (V2L) of the Ranger PHEV. It features a pair of 15A power outlets, which allow owners to plug electrical applicances into the vehicle to use it as a generator. Ford dubs this 'Pro Power Onboard' and it offers a total capacity of 6900W, which exceeds the capacity of both the Shark 6 and Cannon Alpha PHEV. Ultimately, Ford has attempted to create an electrified version of Australia's best-selling vehicle that outperforms its diesel stablemates while staying true to the roots of the Ranger brand. "The PHEV isn't just an alternative, it can do everything the diesel can do and then some. The truck is more capable because it's a hybrid. It still does truck things but there's a new thing it can do with exportable power," said Mr Baumbick. "For us, it was about optimising the system for performance, towing and capability. Our target was diesel [performance] or better. "It offers hybrid propulsion, [better] fuel economy, and the superpower of Pro Power Onboard. "It's the right time for a PHEV, and unlocking this new superpower for Ranger. This is going to show our customers the benefits of electrification without any tradeoff to what the truck is capable of." Of the three PHEV utes now available in Australia, the Ranger is the most expensive – the base XLT is priced from $71,990 before on-road costs, more than the most expensive Cannon Alpha PHEV and Shark 6. BYD has already reacted to the arrival of the Ranger PHEV, stating it's not worried about the new electrified ute. "I wouldn't say that we're worried," BYD Australia senior product planning manager, Sajid Hasan told CarExpert. "We respect them, direct competitors, but we're more focused on ourselves and working to expand the Shark 6 lineup and see where that takes us." MORE: Explore the Ford Ranger showroom Content originally sourced from: Ford says its new Ranger PHEV ute is the 'best tool for the job', despite it failing to match key rivals on battery capacity, power, and electric driving range. Launched in the Australian market last month ahead of imminent customer deliveries, plug-in hybrid versions of the Ranger are propelled by the combination of a 2.3-litre turbo-petrol four cylinder engine and a rear-mounted electric motor, producing a combined 207kW of power and 697Nm of torque. The electric motor sources power from an 11.8kWh lithium-ion battery, which caps the ute's electric driving range at a claimed 49km on the NEDC cycle. The Ranger PHEV is one of three plug-in hybrid utes now available Down Under, alongside the BYD Shark 6 and GWM Cannon Alpha PHEV. Both Chinese rivals outgun the Ranger on power, EV range and fuel-efficiency, calling into question the competitiveness of Ford's newest model. However, Ford is hanging its hat on the Ranger PHEV's superior payload and towing capacity. All variants can tow up to 3500kg, and payloads range between 808-973kg. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The Cannon Alpha equals Ford's Ranger in the towing stakes, but neither the GWM (790kg) nor the BYD (685kg) promise an equivalent payload. It's those attributes that local ute buyers value most, according to senior Ford product executive, Jim Baumbick. "We've always tried to develop the best tool for the job," Mr Baumbick told Australian media at the international launch of the Ranger PHEV. "When you talk to truck customers they want payload and towing. EV range matters, but in context when you're adding more battery you're working counter to the payload and towing. "You can increase the battery size, but then you have to increase the size of other parts to carry that weight. It's about system optimisation. We think it's the right balance for a first application." Ford is also spruiking the vehicle-to-load charging capabilities (V2L) of the Ranger PHEV. It features a pair of 15A power outlets, which allow owners to plug electrical applicances into the vehicle to use it as a generator. Ford dubs this 'Pro Power Onboard' and it offers a total capacity of 6900W, which exceeds the capacity of both the Shark 6 and Cannon Alpha PHEV. Ultimately, Ford has attempted to create an electrified version of Australia's best-selling vehicle that outperforms its diesel stablemates while staying true to the roots of the Ranger brand. "The PHEV isn't just an alternative, it can do everything the diesel can do and then some. The truck is more capable because it's a hybrid. It still does truck things but there's a new thing it can do with exportable power," said Mr Baumbick. "For us, it was about optimising the system for performance, towing and capability. Our target was diesel [performance] or better. "It offers hybrid propulsion, [better] fuel economy, and the superpower of Pro Power Onboard. "It's the right time for a PHEV, and unlocking this new superpower for Ranger. This is going to show our customers the benefits of electrification without any tradeoff to what the truck is capable of." Of the three PHEV utes now available in Australia, the Ranger is the most expensive – the base XLT is priced from $71,990 before on-road costs, more than the most expensive Cannon Alpha PHEV and Shark 6. BYD has already reacted to the arrival of the Ranger PHEV, stating it's not worried about the new electrified ute. "I wouldn't say that we're worried," BYD Australia senior product planning manager, Sajid Hasan told CarExpert. "We respect them, direct competitors, but we're more focused on ourselves and working to expand the Shark 6 lineup and see where that takes us." MORE: Explore the Ford Ranger showroom Content originally sourced from: Ford says its new Ranger PHEV ute is the 'best tool for the job', despite it failing to match key rivals on battery capacity, power, and electric driving range. Launched in the Australian market last month ahead of imminent customer deliveries, plug-in hybrid versions of the Ranger are propelled by the combination of a 2.3-litre turbo-petrol four cylinder engine and a rear-mounted electric motor, producing a combined 207kW of power and 697Nm of torque. The electric motor sources power from an 11.8kWh lithium-ion battery, which caps the ute's electric driving range at a claimed 49km on the NEDC cycle. The Ranger PHEV is one of three plug-in hybrid utes now available Down Under, alongside the BYD Shark 6 and GWM Cannon Alpha PHEV. Both Chinese rivals outgun the Ranger on power, EV range and fuel-efficiency, calling into question the competitiveness of Ford's newest model. However, Ford is hanging its hat on the Ranger PHEV's superior payload and towing capacity. All variants can tow up to 3500kg, and payloads range between 808-973kg. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The Cannon Alpha equals Ford's Ranger in the towing stakes, but neither the GWM (790kg) nor the BYD (685kg) promise an equivalent payload. It's those attributes that local ute buyers value most, according to senior Ford product executive, Jim Baumbick. "We've always tried to develop the best tool for the job," Mr Baumbick told Australian media at the international launch of the Ranger PHEV. "When you talk to truck customers they want payload and towing. EV range matters, but in context when you're adding more battery you're working counter to the payload and towing. "You can increase the battery size, but then you have to increase the size of other parts to carry that weight. It's about system optimisation. We think it's the right balance for a first application." Ford is also spruiking the vehicle-to-load charging capabilities (V2L) of the Ranger PHEV. It features a pair of 15A power outlets, which allow owners to plug electrical applicances into the vehicle to use it as a generator. Ford dubs this 'Pro Power Onboard' and it offers a total capacity of 6900W, which exceeds the capacity of both the Shark 6 and Cannon Alpha PHEV. Ultimately, Ford has attempted to create an electrified version of Australia's best-selling vehicle that outperforms its diesel stablemates while staying true to the roots of the Ranger brand. "The PHEV isn't just an alternative, it can do everything the diesel can do and then some. The truck is more capable because it's a hybrid. It still does truck things but there's a new thing it can do with exportable power," said Mr Baumbick. "For us, it was about optimising the system for performance, towing and capability. Our target was diesel [performance] or better. "It offers hybrid propulsion, [better] fuel economy, and the superpower of Pro Power Onboard. "It's the right time for a PHEV, and unlocking this new superpower for Ranger. This is going to show our customers the benefits of electrification without any tradeoff to what the truck is capable of." Of the three PHEV utes now available in Australia, the Ranger is the most expensive – the base XLT is priced from $71,990 before on-road costs, more than the most expensive Cannon Alpha PHEV and Shark 6. BYD has already reacted to the arrival of the Ranger PHEV, stating it's not worried about the new electrified ute. "I wouldn't say that we're worried," BYD Australia senior product planning manager, Sajid Hasan told CarExpert. "We respect them, direct competitors, but we're more focused on ourselves and working to expand the Shark 6 lineup and see where that takes us." MORE: Explore the Ford Ranger showroom Content originally sourced from:

Workers' retirement nest eggs set for super boost
Workers' retirement nest eggs set for super boost

The Advertiser

timean hour ago

  • The Advertiser

Workers' retirement nest eggs set for super boost

Australian workers can look forward to a bigger nest egg, with an increase to the superannuation guarantee to add tens of thousands of dollars to the average super account. From July 1, employers' minimum required contribution to employees' superannuation accounts will rise from 11.5 per cent to 12 per cent. It's the latest and last in a series of incremental increases from nine per cent over more than a decade since they were legislated by the Rudd-Gillard Labor government in 2012. With the latest bump, a 30-year-old earning $60,000 would have an extra $20,000 in super by retirement, according to the Association of Superannuation Funds Australia. It will add about $300 each year to the superannuation of a worker on a $60,000 salary, or $500 for someone on a $100,000 salary. "The system foundations are cemented for young, working people to have a comfortable retirement," ASFA chief executive Mary Delahunty said. "It's a moment all Australians should be proud of." The association says the cost of a comfortable retirement increased 1.6 per cent in the past year, while the cost of a modest retirement rose 1.7 per cent. A "comfortable" retirement includes top-level health insurance, a reasonable car and leisure activities. The cost of either outcome was increasing slower than Australia's current 2.4 per cent headline inflation but retiree budgets remained under pressure from rising food, energy and health costs. Couples on average need $73,900 annually for a comfortable retirement, while most singles needed $52,300 per year, ASFA says. For a modest retirement covering the basics, couples needed $48,200 each year, singles $33,400, or for renting couples, $64,250, and $46,660 each year for singles who rent. The figures underlined the importance of increasing Australia's housing stock, Ms Delahunty said. "They also illustrate how super can be the difference between hardship and stability later in life, especially for renters." For some workers, the extra contribution will come from their existing pay package, according to CPA Australia's superannuation lead Richard Webb. "It's a good idea to check with your employer to see how they view the changes and what it means for you," he said. Workers on contracts with a total remuneration package could see a slight drop in their take-home pay, while those on award or enterprise agreements would likely receive the contribution on-top of their current pay. When compulsory superannuation was introduced in 1992 - in part to reduce government spending on the Age Pension - only one in 10 Australian retirees listed super as a source of income. Nine in 10 people between 30 and 50 now have super. Government spending on the Age Pension is projected to fall from 2.3 per cent of gross domestic product in 2020 to two per cent by 2062/63, despite a doubling of the over-65 population and a trebling of over-85s over the same period. However the super guarantee increase wouldn't help those who missed out on paid work for extended periods, Super Consumer Australia chief executive Xavier O'Halloran said. "(For) people who have caring responsibilities or who have been locked out of the unaffordable housing market ... increasing SG further won't address those inequalities," he told AAP. Mr O'Halloran said there was more that could be done to support people struggling in retirement, when a significant portion of their autumnal years' savings were made. "Right now, there are no minimum standards for retirement products like there are for MySuper," he said. "There is also no performance testing of retirement products, so super funds can still sell poor products." Australian workers can look forward to a bigger nest egg, with an increase to the superannuation guarantee to add tens of thousands of dollars to the average super account. From July 1, employers' minimum required contribution to employees' superannuation accounts will rise from 11.5 per cent to 12 per cent. It's the latest and last in a series of incremental increases from nine per cent over more than a decade since they were legislated by the Rudd-Gillard Labor government in 2012. With the latest bump, a 30-year-old earning $60,000 would have an extra $20,000 in super by retirement, according to the Association of Superannuation Funds Australia. It will add about $300 each year to the superannuation of a worker on a $60,000 salary, or $500 for someone on a $100,000 salary. "The system foundations are cemented for young, working people to have a comfortable retirement," ASFA chief executive Mary Delahunty said. "It's a moment all Australians should be proud of." The association says the cost of a comfortable retirement increased 1.6 per cent in the past year, while the cost of a modest retirement rose 1.7 per cent. A "comfortable" retirement includes top-level health insurance, a reasonable car and leisure activities. The cost of either outcome was increasing slower than Australia's current 2.4 per cent headline inflation but retiree budgets remained under pressure from rising food, energy and health costs. Couples on average need $73,900 annually for a comfortable retirement, while most singles needed $52,300 per year, ASFA says. For a modest retirement covering the basics, couples needed $48,200 each year, singles $33,400, or for renting couples, $64,250, and $46,660 each year for singles who rent. The figures underlined the importance of increasing Australia's housing stock, Ms Delahunty said. "They also illustrate how super can be the difference between hardship and stability later in life, especially for renters." For some workers, the extra contribution will come from their existing pay package, according to CPA Australia's superannuation lead Richard Webb. "It's a good idea to check with your employer to see how they view the changes and what it means for you," he said. Workers on contracts with a total remuneration package could see a slight drop in their take-home pay, while those on award or enterprise agreements would likely receive the contribution on-top of their current pay. When compulsory superannuation was introduced in 1992 - in part to reduce government spending on the Age Pension - only one in 10 Australian retirees listed super as a source of income. Nine in 10 people between 30 and 50 now have super. Government spending on the Age Pension is projected to fall from 2.3 per cent of gross domestic product in 2020 to two per cent by 2062/63, despite a doubling of the over-65 population and a trebling of over-85s over the same period. However the super guarantee increase wouldn't help those who missed out on paid work for extended periods, Super Consumer Australia chief executive Xavier O'Halloran said. "(For) people who have caring responsibilities or who have been locked out of the unaffordable housing market ... increasing SG further won't address those inequalities," he told AAP. Mr O'Halloran said there was more that could be done to support people struggling in retirement, when a significant portion of their autumnal years' savings were made. "Right now, there are no minimum standards for retirement products like there are for MySuper," he said. "There is also no performance testing of retirement products, so super funds can still sell poor products." Australian workers can look forward to a bigger nest egg, with an increase to the superannuation guarantee to add tens of thousands of dollars to the average super account. From July 1, employers' minimum required contribution to employees' superannuation accounts will rise from 11.5 per cent to 12 per cent. It's the latest and last in a series of incremental increases from nine per cent over more than a decade since they were legislated by the Rudd-Gillard Labor government in 2012. With the latest bump, a 30-year-old earning $60,000 would have an extra $20,000 in super by retirement, according to the Association of Superannuation Funds Australia. It will add about $300 each year to the superannuation of a worker on a $60,000 salary, or $500 for someone on a $100,000 salary. "The system foundations are cemented for young, working people to have a comfortable retirement," ASFA chief executive Mary Delahunty said. "It's a moment all Australians should be proud of." The association says the cost of a comfortable retirement increased 1.6 per cent in the past year, while the cost of a modest retirement rose 1.7 per cent. A "comfortable" retirement includes top-level health insurance, a reasonable car and leisure activities. The cost of either outcome was increasing slower than Australia's current 2.4 per cent headline inflation but retiree budgets remained under pressure from rising food, energy and health costs. Couples on average need $73,900 annually for a comfortable retirement, while most singles needed $52,300 per year, ASFA says. For a modest retirement covering the basics, couples needed $48,200 each year, singles $33,400, or for renting couples, $64,250, and $46,660 each year for singles who rent. The figures underlined the importance of increasing Australia's housing stock, Ms Delahunty said. "They also illustrate how super can be the difference between hardship and stability later in life, especially for renters." For some workers, the extra contribution will come from their existing pay package, according to CPA Australia's superannuation lead Richard Webb. "It's a good idea to check with your employer to see how they view the changes and what it means for you," he said. Workers on contracts with a total remuneration package could see a slight drop in their take-home pay, while those on award or enterprise agreements would likely receive the contribution on-top of their current pay. When compulsory superannuation was introduced in 1992 - in part to reduce government spending on the Age Pension - only one in 10 Australian retirees listed super as a source of income. Nine in 10 people between 30 and 50 now have super. Government spending on the Age Pension is projected to fall from 2.3 per cent of gross domestic product in 2020 to two per cent by 2062/63, despite a doubling of the over-65 population and a trebling of over-85s over the same period. However the super guarantee increase wouldn't help those who missed out on paid work for extended periods, Super Consumer Australia chief executive Xavier O'Halloran said. "(For) people who have caring responsibilities or who have been locked out of the unaffordable housing market ... increasing SG further won't address those inequalities," he told AAP. Mr O'Halloran said there was more that could be done to support people struggling in retirement, when a significant portion of their autumnal years' savings were made. "Right now, there are no minimum standards for retirement products like there are for MySuper," he said. "There is also no performance testing of retirement products, so super funds can still sell poor products." Australian workers can look forward to a bigger nest egg, with an increase to the superannuation guarantee to add tens of thousands of dollars to the average super account. From July 1, employers' minimum required contribution to employees' superannuation accounts will rise from 11.5 per cent to 12 per cent. It's the latest and last in a series of incremental increases from nine per cent over more than a decade since they were legislated by the Rudd-Gillard Labor government in 2012. With the latest bump, a 30-year-old earning $60,000 would have an extra $20,000 in super by retirement, according to the Association of Superannuation Funds Australia. It will add about $300 each year to the superannuation of a worker on a $60,000 salary, or $500 for someone on a $100,000 salary. "The system foundations are cemented for young, working people to have a comfortable retirement," ASFA chief executive Mary Delahunty said. "It's a moment all Australians should be proud of." The association says the cost of a comfortable retirement increased 1.6 per cent in the past year, while the cost of a modest retirement rose 1.7 per cent. A "comfortable" retirement includes top-level health insurance, a reasonable car and leisure activities. The cost of either outcome was increasing slower than Australia's current 2.4 per cent headline inflation but retiree budgets remained under pressure from rising food, energy and health costs. Couples on average need $73,900 annually for a comfortable retirement, while most singles needed $52,300 per year, ASFA says. For a modest retirement covering the basics, couples needed $48,200 each year, singles $33,400, or for renting couples, $64,250, and $46,660 each year for singles who rent. The figures underlined the importance of increasing Australia's housing stock, Ms Delahunty said. "They also illustrate how super can be the difference between hardship and stability later in life, especially for renters." For some workers, the extra contribution will come from their existing pay package, according to CPA Australia's superannuation lead Richard Webb. "It's a good idea to check with your employer to see how they view the changes and what it means for you," he said. Workers on contracts with a total remuneration package could see a slight drop in their take-home pay, while those on award or enterprise agreements would likely receive the contribution on-top of their current pay. When compulsory superannuation was introduced in 1992 - in part to reduce government spending on the Age Pension - only one in 10 Australian retirees listed super as a source of income. Nine in 10 people between 30 and 50 now have super. Government spending on the Age Pension is projected to fall from 2.3 per cent of gross domestic product in 2020 to two per cent by 2062/63, despite a doubling of the over-65 population and a trebling of over-85s over the same period. However the super guarantee increase wouldn't help those who missed out on paid work for extended periods, Super Consumer Australia chief executive Xavier O'Halloran said. "(For) people who have caring responsibilities or who have been locked out of the unaffordable housing market ... increasing SG further won't address those inequalities," he told AAP. Mr O'Halloran said there was more that could be done to support people struggling in retirement, when a significant portion of their autumnal years' savings were made. "Right now, there are no minimum standards for retirement products like there are for MySuper," he said. "There is also no performance testing of retirement products, so super funds can still sell poor products."

EU-Aust free trade deal: a "middle finger to Trump"
EU-Aust free trade deal: a "middle finger to Trump"

The Advertiser

timean hour ago

  • The Advertiser

EU-Aust free trade deal: a "middle finger to Trump"

There is appetite for the European Union and Australia to signal a "middle finger to Trump" by uniting on a long-awaited free trade deal but some in Brussels are tempering expectations of a quick turnaround. Trade talks kicked off in 2018 but Canberra walked away about 18 months ago over unsatisfactory market access for beef and lamb producers, and a reluctance to give up naming rights on products for geographical origin reasons, including feta, parmesan and prosecco. Fast forward to 2025 and US President Donald Trump's tariff antics have brought both parties back to the negotiating table. There was speculation of a quick conclusion with the Australian Financial Review reporting European Commission President Ursula von der Leyen had flagged a trip to Australia for late July or early August in anticipation of signing a deal. This echoed the fact she had also been quick to flag an agreement while offering Anthony Albanese her congratulations on becoming prime minister via Twitter in 2022. But multiple EU spokespeople have declined to confirm the travel, telling AAP a Down Under trip is "not on the radar". Despite acknowledging renewed political will, various sources in Brussels are cautioning patience. "There is no rush," according to one inside the EU Commission. "I wouldn't even say the end of the year, I would say more next year." Jacob Funk Kirkegaard, a senior fellow with Brussels think-tank Bruegel, estimates it could take at least another six months to resolve outstanding issues on agricultural tariffs and quotas. "The broad contour of the deal is already negotiated," he told AAP. "They know where the skeletons are buried. It takes a political grand bargain to do it." He noted that if the EU makes concessions, it would likely encounter an angry backlash from French and Polish farmers, who also opposed the EU's deal last year with Argentina, Brazil, Paraguay and Uruguay. However tractor and manure street protests wouldn't be enough to block a deal with Canberra, he said. Amid Washington's shift to extreme trade protectionism, an EU-Australian free trade deal would send a strong message to the Trump administration, Kirkegaard said. "As two of America's traditional allies, if both the EU and Australia find themselves subject to US tariffs, what better way than to do a deal with each other," he said. "So perhaps both countries feel this political signal is kind of a middle finger to Trump as well." Back in Melbourne, Sicilian-born cheesemaker Giorgio Linguanti from That's Amore Cheese faces an anxious wait to find out whether he can continue to market his wares using generic terms like parmesan or mozzarella. Yet he is open to compromise. "We should call it Australian parmesan and Australian feta because Australian milk is the best in the world," he said. Canberra and Brussels announced on Wednesday separate negotiations on a defence pact to boost defence industry, cyber-security and counter-terrorism co-operation. But it would not have military deployment obligations. There is appetite for the European Union and Australia to signal a "middle finger to Trump" by uniting on a long-awaited free trade deal but some in Brussels are tempering expectations of a quick turnaround. Trade talks kicked off in 2018 but Canberra walked away about 18 months ago over unsatisfactory market access for beef and lamb producers, and a reluctance to give up naming rights on products for geographical origin reasons, including feta, parmesan and prosecco. Fast forward to 2025 and US President Donald Trump's tariff antics have brought both parties back to the negotiating table. There was speculation of a quick conclusion with the Australian Financial Review reporting European Commission President Ursula von der Leyen had flagged a trip to Australia for late July or early August in anticipation of signing a deal. This echoed the fact she had also been quick to flag an agreement while offering Anthony Albanese her congratulations on becoming prime minister via Twitter in 2022. But multiple EU spokespeople have declined to confirm the travel, telling AAP a Down Under trip is "not on the radar". Despite acknowledging renewed political will, various sources in Brussels are cautioning patience. "There is no rush," according to one inside the EU Commission. "I wouldn't even say the end of the year, I would say more next year." Jacob Funk Kirkegaard, a senior fellow with Brussels think-tank Bruegel, estimates it could take at least another six months to resolve outstanding issues on agricultural tariffs and quotas. "The broad contour of the deal is already negotiated," he told AAP. "They know where the skeletons are buried. It takes a political grand bargain to do it." He noted that if the EU makes concessions, it would likely encounter an angry backlash from French and Polish farmers, who also opposed the EU's deal last year with Argentina, Brazil, Paraguay and Uruguay. However tractor and manure street protests wouldn't be enough to block a deal with Canberra, he said. Amid Washington's shift to extreme trade protectionism, an EU-Australian free trade deal would send a strong message to the Trump administration, Kirkegaard said. "As two of America's traditional allies, if both the EU and Australia find themselves subject to US tariffs, what better way than to do a deal with each other," he said. "So perhaps both countries feel this political signal is kind of a middle finger to Trump as well." Back in Melbourne, Sicilian-born cheesemaker Giorgio Linguanti from That's Amore Cheese faces an anxious wait to find out whether he can continue to market his wares using generic terms like parmesan or mozzarella. Yet he is open to compromise. "We should call it Australian parmesan and Australian feta because Australian milk is the best in the world," he said. Canberra and Brussels announced on Wednesday separate negotiations on a defence pact to boost defence industry, cyber-security and counter-terrorism co-operation. But it would not have military deployment obligations. There is appetite for the European Union and Australia to signal a "middle finger to Trump" by uniting on a long-awaited free trade deal but some in Brussels are tempering expectations of a quick turnaround. Trade talks kicked off in 2018 but Canberra walked away about 18 months ago over unsatisfactory market access for beef and lamb producers, and a reluctance to give up naming rights on products for geographical origin reasons, including feta, parmesan and prosecco. Fast forward to 2025 and US President Donald Trump's tariff antics have brought both parties back to the negotiating table. There was speculation of a quick conclusion with the Australian Financial Review reporting European Commission President Ursula von der Leyen had flagged a trip to Australia for late July or early August in anticipation of signing a deal. This echoed the fact she had also been quick to flag an agreement while offering Anthony Albanese her congratulations on becoming prime minister via Twitter in 2022. But multiple EU spokespeople have declined to confirm the travel, telling AAP a Down Under trip is "not on the radar". Despite acknowledging renewed political will, various sources in Brussels are cautioning patience. "There is no rush," according to one inside the EU Commission. "I wouldn't even say the end of the year, I would say more next year." Jacob Funk Kirkegaard, a senior fellow with Brussels think-tank Bruegel, estimates it could take at least another six months to resolve outstanding issues on agricultural tariffs and quotas. "The broad contour of the deal is already negotiated," he told AAP. "They know where the skeletons are buried. It takes a political grand bargain to do it." He noted that if the EU makes concessions, it would likely encounter an angry backlash from French and Polish farmers, who also opposed the EU's deal last year with Argentina, Brazil, Paraguay and Uruguay. However tractor and manure street protests wouldn't be enough to block a deal with Canberra, he said. Amid Washington's shift to extreme trade protectionism, an EU-Australian free trade deal would send a strong message to the Trump administration, Kirkegaard said. "As two of America's traditional allies, if both the EU and Australia find themselves subject to US tariffs, what better way than to do a deal with each other," he said. "So perhaps both countries feel this political signal is kind of a middle finger to Trump as well." Back in Melbourne, Sicilian-born cheesemaker Giorgio Linguanti from That's Amore Cheese faces an anxious wait to find out whether he can continue to market his wares using generic terms like parmesan or mozzarella. Yet he is open to compromise. "We should call it Australian parmesan and Australian feta because Australian milk is the best in the world," he said. Canberra and Brussels announced on Wednesday separate negotiations on a defence pact to boost defence industry, cyber-security and counter-terrorism co-operation. But it would not have military deployment obligations. There is appetite for the European Union and Australia to signal a "middle finger to Trump" by uniting on a long-awaited free trade deal but some in Brussels are tempering expectations of a quick turnaround. Trade talks kicked off in 2018 but Canberra walked away about 18 months ago over unsatisfactory market access for beef and lamb producers, and a reluctance to give up naming rights on products for geographical origin reasons, including feta, parmesan and prosecco. Fast forward to 2025 and US President Donald Trump's tariff antics have brought both parties back to the negotiating table. There was speculation of a quick conclusion with the Australian Financial Review reporting European Commission President Ursula von der Leyen had flagged a trip to Australia for late July or early August in anticipation of signing a deal. This echoed the fact she had also been quick to flag an agreement while offering Anthony Albanese her congratulations on becoming prime minister via Twitter in 2022. But multiple EU spokespeople have declined to confirm the travel, telling AAP a Down Under trip is "not on the radar". Despite acknowledging renewed political will, various sources in Brussels are cautioning patience. "There is no rush," according to one inside the EU Commission. "I wouldn't even say the end of the year, I would say more next year." Jacob Funk Kirkegaard, a senior fellow with Brussels think-tank Bruegel, estimates it could take at least another six months to resolve outstanding issues on agricultural tariffs and quotas. "The broad contour of the deal is already negotiated," he told AAP. "They know where the skeletons are buried. It takes a political grand bargain to do it." He noted that if the EU makes concessions, it would likely encounter an angry backlash from French and Polish farmers, who also opposed the EU's deal last year with Argentina, Brazil, Paraguay and Uruguay. However tractor and manure street protests wouldn't be enough to block a deal with Canberra, he said. Amid Washington's shift to extreme trade protectionism, an EU-Australian free trade deal would send a strong message to the Trump administration, Kirkegaard said. "As two of America's traditional allies, if both the EU and Australia find themselves subject to US tariffs, what better way than to do a deal with each other," he said. "So perhaps both countries feel this political signal is kind of a middle finger to Trump as well." Back in Melbourne, Sicilian-born cheesemaker Giorgio Linguanti from That's Amore Cheese faces an anxious wait to find out whether he can continue to market his wares using generic terms like parmesan or mozzarella. Yet he is open to compromise. "We should call it Australian parmesan and Australian feta because Australian milk is the best in the world," he said. Canberra and Brussels announced on Wednesday separate negotiations on a defence pact to boost defence industry, cyber-security and counter-terrorism co-operation. But it would not have military deployment obligations.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store