ASX Runners of the Week: XPON, Locksley, DY6 Metals & Arizona
We shouldn't have been surprised to see a modicum of profit-taking this week after last week's efforts, which saw the United States broad-ranging S&P 500 stock market index go up for nine days in a row to post its longest daily winning streak in 20 years, coupled with the ASX 200 index ending a 12-day winning streak.
US economic data added a fresh twist to market jitters for the week, with first-quarter GDP dipping by 0.3 per cent - a headline drop that at first glance looked like a red flag. Scratch beneath the surface and a different story emerges.
This wasn't about an economy slowing down - it was about businesses going into overdrive, racing to import a flood of goods before new US President Donald Trump's trade tariffs kick in. The result was a 50.9 per cent surge in imports that technically dragged GDP lower, thanks to how the number-crunchers calculate growth.
Amazingly, for all the hand wringing and wailing that came off the back of Trump's 'liberation day' blockbuster tariff announcement at the start of last month, the key Australian index closed out the week at 8231. This was 285 points or 3.4 per cent higher than its close prior to the fateful announcement and the S&P is, by and large, unchanged.
With a rollercoaster week came yet more glory for gold, which hit a high price of $3438 an ounce on Wednesday on the back of a resumption of hostilities between Pakistan and India - two nuclear powers with age-old claims on the disputed state of Kashmir.
XPON TECHNOLOGIES GROUP LTD (ASX: XPN)
up 400% (0.6c – 3.0c)
This week's Bulls N' Bears ASX Runner of the Week is artificial intelligence and technology solutions provider XPON Technologies Group, which saw its share price rocket on Monday after it announced a binding agreement to snap up leading Australian digital marketing outfit Alpha Digital Design Consultants.
XPON's acquisition of Alpha Digital, a long-term channel partner with a crack team of 25 digital marketing specialists, is a savvy attempt to supercharge its revenue growth. The deal is set to bring in an additional $4.6 million in revenue and a $0.7M EBITDA based on last year's financials - plus a cool $1M cash in the bank.
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The Advertiser
2 hours 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:
The Advertiser
2 hours ago
- The Advertiser
Trump, tariffs and more: why Hunter business confidence is shaken
Global uncertainty has seen business confidence drop in the region, breaking with past quarters of cautious optimism. The shift has been attributed to the growing impact of day-to-day business pressures, as customers and businesses locally feel the trickle-down effects of the Trump administration's on-again-off-again tariffs and erratic presence on the international stage, and escalating tensions in the Middle East. At street level in Newcastle, business owners say the pinch is not being felt directly but there is an aftertaste. "Our space does not scream politics," Bank Corner Espresso Bar owner Alyssa Salamon said. Since taking over the space on Bellevue Street in 2024, she has made a point of trying to avoid dragging the digitally propelled political world into the cafe. Still, as uncertainty increases, it has seeped in at the edges. "It has been just that commonality of themes in conversation popping up around the place," she said. "Or people who I would not have expected to have been so affected by it making comments about having had losses." Business Hunter boss Bob Hawes singled out Trump's tariffs and their effect on international markets as a driver of uncertainty revealed in the results of the second Business NSW Business Conditions Survey for the year. "Over 50 per cent of businesses said they had seen a change in customer behaviour as a result of global economic uncertainty and nearly 30 per cent had noted changes in supplier behaviour," he said. Mr Hawes said the bread-and-butter issues of business including increasing insurance and energy costs, taxes and levies and red tape were also weighing heavily on business operators' minds and bottom lines. "Insurance remains the number one cost pressure, with nearly 70 per cent of businesses across NSW reporting that they had undertaken a budget reallocation to account for higher insurance costs," Mr Hawes said. Business hiring dropped off across the survey period. In Newcastle and Lake Macquarie only 19 per cent of businesses employed new staff in the three-month period. In the Hunter Valley, that figure was 11 per cent. Statewide, 27 per cent of businesses reduced their headcount. In the region those figures were 29 per cent (Newcastle and Lake Macquarie) and 40 per cent (Hunter Valley). Mr Hawes said reforms to worker compensation and the Emergency Services Levy were two measures the NSW government could take quickly to ease financial pressure on businesses. "To tackle soaring insurance costs, the NSW government must fast-track reforms to the Emergency Services Levy, which is collected largely through insurance policies and adds nearly a quarter to premiums," Mr Hawes said. "NSW is the only state that funds emergency services through a tax on insurance premiums. A fairer collection system would provide vital relief to thousands of businesses struggling to stay afloat. "Passing the workers compensation reforms through the NSW Parliament at earliest opportunity will also help ease the cost burden on businesses." Global uncertainty has seen business confidence drop in the region, breaking with past quarters of cautious optimism. The shift has been attributed to the growing impact of day-to-day business pressures, as customers and businesses locally feel the trickle-down effects of the Trump administration's on-again-off-again tariffs and erratic presence on the international stage, and escalating tensions in the Middle East. At street level in Newcastle, business owners say the pinch is not being felt directly but there is an aftertaste. "Our space does not scream politics," Bank Corner Espresso Bar owner Alyssa Salamon said. Since taking over the space on Bellevue Street in 2024, she has made a point of trying to avoid dragging the digitally propelled political world into the cafe. Still, as uncertainty increases, it has seeped in at the edges. "It has been just that commonality of themes in conversation popping up around the place," she said. "Or people who I would not have expected to have been so affected by it making comments about having had losses." Business Hunter boss Bob Hawes singled out Trump's tariffs and their effect on international markets as a driver of uncertainty revealed in the results of the second Business NSW Business Conditions Survey for the year. "Over 50 per cent of businesses said they had seen a change in customer behaviour as a result of global economic uncertainty and nearly 30 per cent had noted changes in supplier behaviour," he said. Mr Hawes said the bread-and-butter issues of business including increasing insurance and energy costs, taxes and levies and red tape were also weighing heavily on business operators' minds and bottom lines. "Insurance remains the number one cost pressure, with nearly 70 per cent of businesses across NSW reporting that they had undertaken a budget reallocation to account for higher insurance costs," Mr Hawes said. Business hiring dropped off across the survey period. In Newcastle and Lake Macquarie only 19 per cent of businesses employed new staff in the three-month period. In the Hunter Valley, that figure was 11 per cent. Statewide, 27 per cent of businesses reduced their headcount. In the region those figures were 29 per cent (Newcastle and Lake Macquarie) and 40 per cent (Hunter Valley). Mr Hawes said reforms to worker compensation and the Emergency Services Levy were two measures the NSW government could take quickly to ease financial pressure on businesses. "To tackle soaring insurance costs, the NSW government must fast-track reforms to the Emergency Services Levy, which is collected largely through insurance policies and adds nearly a quarter to premiums," Mr Hawes said. "NSW is the only state that funds emergency services through a tax on insurance premiums. A fairer collection system would provide vital relief to thousands of businesses struggling to stay afloat. "Passing the workers compensation reforms through the NSW Parliament at earliest opportunity will also help ease the cost burden on businesses." Global uncertainty has seen business confidence drop in the region, breaking with past quarters of cautious optimism. The shift has been attributed to the growing impact of day-to-day business pressures, as customers and businesses locally feel the trickle-down effects of the Trump administration's on-again-off-again tariffs and erratic presence on the international stage, and escalating tensions in the Middle East. At street level in Newcastle, business owners say the pinch is not being felt directly but there is an aftertaste. "Our space does not scream politics," Bank Corner Espresso Bar owner Alyssa Salamon said. Since taking over the space on Bellevue Street in 2024, she has made a point of trying to avoid dragging the digitally propelled political world into the cafe. Still, as uncertainty increases, it has seeped in at the edges. "It has been just that commonality of themes in conversation popping up around the place," she said. "Or people who I would not have expected to have been so affected by it making comments about having had losses." Business Hunter boss Bob Hawes singled out Trump's tariffs and their effect on international markets as a driver of uncertainty revealed in the results of the second Business NSW Business Conditions Survey for the year. "Over 50 per cent of businesses said they had seen a change in customer behaviour as a result of global economic uncertainty and nearly 30 per cent had noted changes in supplier behaviour," he said. Mr Hawes said the bread-and-butter issues of business including increasing insurance and energy costs, taxes and levies and red tape were also weighing heavily on business operators' minds and bottom lines. "Insurance remains the number one cost pressure, with nearly 70 per cent of businesses across NSW reporting that they had undertaken a budget reallocation to account for higher insurance costs," Mr Hawes said. Business hiring dropped off across the survey period. In Newcastle and Lake Macquarie only 19 per cent of businesses employed new staff in the three-month period. In the Hunter Valley, that figure was 11 per cent. Statewide, 27 per cent of businesses reduced their headcount. In the region those figures were 29 per cent (Newcastle and Lake Macquarie) and 40 per cent (Hunter Valley). Mr Hawes said reforms to worker compensation and the Emergency Services Levy were two measures the NSW government could take quickly to ease financial pressure on businesses. "To tackle soaring insurance costs, the NSW government must fast-track reforms to the Emergency Services Levy, which is collected largely through insurance policies and adds nearly a quarter to premiums," Mr Hawes said. "NSW is the only state that funds emergency services through a tax on insurance premiums. A fairer collection system would provide vital relief to thousands of businesses struggling to stay afloat. "Passing the workers compensation reforms through the NSW Parliament at earliest opportunity will also help ease the cost burden on businesses." Global uncertainty has seen business confidence drop in the region, breaking with past quarters of cautious optimism. The shift has been attributed to the growing impact of day-to-day business pressures, as customers and businesses locally feel the trickle-down effects of the Trump administration's on-again-off-again tariffs and erratic presence on the international stage, and escalating tensions in the Middle East. At street level in Newcastle, business owners say the pinch is not being felt directly but there is an aftertaste. "Our space does not scream politics," Bank Corner Espresso Bar owner Alyssa Salamon said. Since taking over the space on Bellevue Street in 2024, she has made a point of trying to avoid dragging the digitally propelled political world into the cafe. Still, as uncertainty increases, it has seeped in at the edges. "It has been just that commonality of themes in conversation popping up around the place," she said. "Or people who I would not have expected to have been so affected by it making comments about having had losses." Business Hunter boss Bob Hawes singled out Trump's tariffs and their effect on international markets as a driver of uncertainty revealed in the results of the second Business NSW Business Conditions Survey for the year. "Over 50 per cent of businesses said they had seen a change in customer behaviour as a result of global economic uncertainty and nearly 30 per cent had noted changes in supplier behaviour," he said. Mr Hawes said the bread-and-butter issues of business including increasing insurance and energy costs, taxes and levies and red tape were also weighing heavily on business operators' minds and bottom lines. "Insurance remains the number one cost pressure, with nearly 70 per cent of businesses across NSW reporting that they had undertaken a budget reallocation to account for higher insurance costs," Mr Hawes said. Business hiring dropped off across the survey period. In Newcastle and Lake Macquarie only 19 per cent of businesses employed new staff in the three-month period. In the Hunter Valley, that figure was 11 per cent. Statewide, 27 per cent of businesses reduced their headcount. In the region those figures were 29 per cent (Newcastle and Lake Macquarie) and 40 per cent (Hunter Valley). Mr Hawes said reforms to worker compensation and the Emergency Services Levy were two measures the NSW government could take quickly to ease financial pressure on businesses. "To tackle soaring insurance costs, the NSW government must fast-track reforms to the Emergency Services Levy, which is collected largely through insurance policies and adds nearly a quarter to premiums," Mr Hawes said. "NSW is the only state that funds emergency services through a tax on insurance premiums. A fairer collection system would provide vital relief to thousands of businesses struggling to stay afloat. "Passing the workers compensation reforms through the NSW Parliament at earliest opportunity will also help ease the cost burden on businesses."
The Advertiser
2 hours 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."
