Latest news with #Rudd
Perth Now
14 hours ago
- Business
- Perth Now
Simple change making Aussies $125k better off
The average young Australian is tipped to be $125,000 better off in their retirement simply by staying in the workforce, a major superannuation fund reveals. Australian Retirement Trust says the rise in the superannuation guarantee over the last five years is 'good news' for Australian workers who will have more in their retirement nest egg. Under changes to the superannuation guarantee proposed by the Rudd government and enacted by the Morrison government, every working Aussies superannuation rate automatically went from 9.5 to 12.00 per cent. The changes were brought in incrementally, up 0.5 per cent a year, with the final change starting from July 1 2025. Australians tipped to be $125k better off when they retire. NewsWire / Nicholas Eagar Credit: NewsWire According to the Australian Retirement Trust this five year plan will now see a 30-year old earning $100,000 retire with an additional $125,000 when they finish up their careers. Australian retirement trust executive general manager for advocacy and impact, Anne Fuchs, said the boost to the SG rate is good news for all working Australians. 'This half per cent step may seem small, but for working Australians, it's like reaching the summit of your own financial Everest,' Mrs Fuchs said. 'Since the Superannuation Guarantee was introduced in 1992, it has become the cornerstone of Australia's retirement system – evolving from a modest 3 per cent contribution to a robust framework that provides you with meaningful savings for your future.' Separate research from the Association of Superannuation Funds said the increase from to 12 per cent will mean the median 30-year old worker making $75,000 a year will add about $20,000 to their superannuation balance by the time they retire. The ASFA predicts the average 30-year old worker will now achieve a comfortable retirement. NewsWire / John Appleyard Credit: News Corp Australia This $20,000 increase will mean the median 30-year old will retire with $610,000 in superannuation, above the $53,383 a year or $595,000 they would need for a comfortable retirement. Couples should fare even better. ASFA says a couple requires $73,875 a year or $690,000 combined in total to live comfortably in retirement using their super plus age pension top-ups. The major caveat to these figures for singles and couples is owning your own home by retirement. Check your superannuation rate While the rate of change might seem small, Australian Retirement Trust urges Aussies to check their superannuation rate. According to survey data by the super fund four out of every five Australians don't know how much they've put away for retirement, while only one in five can correctly identify the current superannuation guarantee. 'Whether you're just starting your career or nearing retirement, understanding these changes can help you make smarter financial decisions,' Ms Fuchs said. 'As we look towards our own retirement savings, we should also look towards ensuring the Superannuation Guarantee is fit-for-purpose as our nation ages and grows.
Tom's Guide
3 days ago
- Entertainment
- Tom's Guide
5 top new movies to stream this week on Netflix, HBO Max, Disney Plus and more (June 17-23)
There's plenty of noteworthy new movies across the best streaming services this week, with a little something for everyone from gruesome horror to an inspiring space-themed doc. However, I think the biggest newcomer is the arrival of 'A Minecraft Movie' on HBO Max. I'm no fan of the flick; it ranks in my 5 least favorite movies of 2025 to date (sorry, Minecrafters), but its box office-breaking success suggests I'm in the minority camp with this opinion. Other top new picks include 'Final Destination Bloodlines' arriving on premium video-on-demand streaming platforms, and Netflix's new vibrant animation from the studio behind 'Spider-Man: Into the Spider-Verse,' 'Kpop Demon Hunters' — yes, that is a real movie that you can watch this week. If you're looking for something fresh to stream over the next seven days, you've come to the right place. And also don't forget to check out our guide to the best TV news shows this week. The return of the iconic 'Final Destination' series was a long time coming and after more than a decade's wait, 'Final Destination Bloodlines' proved more than worthy of the franchise's name. I'd go as far as to say it might even be the best installment to date; it's certainly top two, in my opinion. The passage of time certainly helps the formula of a cast of characters being stalked by death feel fresh again, but 'Bloodlines' makes some subtly creative (and super bloody) choices that work a treat. As all 'Final Destination' movies do, 'Bloodlines' begins with a bombastic premonition, where a character sees a vision of future death to come, managing to save a few people, death quickly comes back to claim those who escaped his master plan. Get instant access to breaking news, the hottest reviews, great deals and helpful tips. However, the wrinkle here is that this time it's the grandchildren of one of the survivors who are being hunted. Alongside this new spin, 'Bloodlines' still offers all the outrageously gory deaths you'd expect from a 'Final Destination' movie and has an enjoyable self-aware streak as well. Buy or rent on Amazon from June 17 My local theatre hasn't yet screened 'Friendship,' so I'm particularly pleased to see it arrive on streaming this week because the comedic combo of Tim Robinson and Paul Rudd sounds absolutely perfect. Based on the movie's critical reception (it's currently rated 88% on Rotten Tomatoes), it looks like the team-up of Rudd and Robinson was just as good in practice as it sounded on paper. This one certainly seems worth the rental fee. In 'Friendship,' Tim Robinson plays Craig, a suburban husband and father whose wife is growing frustrated with his increasing emotional distance. When he meets a neighbor, Austin (Rudd), the two strike up a close friendship. But their fast relationship might just be the catalyst for the destruction of both their lives. It kinda looks like a quirky version of Rudd's other bromance comedy, 'I Love You, Man,' and that's one heck of an elevator pitch to me. Buy or rent on Amazon from June 17 Sally Ride was an extremely inspirational figure as the first American woman to travel to space (and only the third overall). This new documentary aims to celebrate her life and a litany of incredible achievements. It's sure to be a documentary that will inspire viewers and also remind us just how small our place in the universe truly is. Also, it's simultaneously hitting both Hulu and Disney Plus, so the House of Mouse is giving this a big push. Beyond Sally's incredible achievements while working at NASA, the movie also explores her life beyond her important work, highlighting the deeply personal story that was going on behind the scenes. Her 27-year relationship with science educator Tam O'Shaughnessy is a key part of the documentary, with 'Sally' showcasing how the pair had to make numerous sacrifices in their professional and personal lives to keep their romance under wraps. Watch on Hulu and Disney Plus from June 17 If I selected movies on this list based on the titles alone, then Netflix's 'KPop Demon Hunters' would deserve the top spot, because the eyebrow-raising name is surely going to help this animated musical action-comedy stand out in the crowded Netflix library. I'm a little surprised to learn that this isn't based on a pre-existing manga or anime, or created in collaboration with a real pop band. Instead, it's an original property from Sony Pictures Animation. Consider me intrigued to see the final result. The movie focuses on a Kpop super group, comprised of Rumi (voiced by Arden Cho), Mira (May Hong) and Zoey (Ji-young Yoo), who spend their time leaping between sell-out stadium shows and, you've guessed it, hunting demons. They must rise to the occasion when they face their biggest threat yet, a rival boy band who are really demons in disguise. I'm not a Kpop aficionado whatsoever, but the fantastic 'Spiderverse'-like animation style is enough for this movie to have already earned a place in my Netflix watchlist. Watch on Netflix from June 20 If you've been desperate to scream 'Chicken Jockey' at the top of your lungs in your own living room, then you'll be delighted to know that 'A Minecraft Movie' is streaming on HBO Max from Friday (June 20). Just don't ask me what the term means, I'm still not really sure. Beyond the many memes, the movie is a sugary blockbuster bursting with colorful effects and larger-than-life characters. Whether you find it entertaining or just highly irritating is a matter of personal taste, but you can't deny its cultural impact. Starring Jack Black, Jason Momoa and Danielle Brooks, this wild adventure is inspired by the juggernaut block-building video game of the same name, and sees a quartet of misfits stumble upon a strange blocky land known as the Overworld. Here, they team up with a zany crafter, Steve (Black), and set out on a quest to save the Minecraft universe from an army of sinister pigs. Watch on HBO Max from June 20
Sky News AU
6 days ago
- Business
- Sky News AU
‘Real worries' raised around Albanese government's home batteries scheme
Industrias Services Group co-founder Daniel Lazarus discusses the material amount of home battery systems in Australia which have been deemed 'substandard' – with a small percentage of them determined to be 'unsafe'. Labor's $2.3 billion bid to cut the price of solar battery installation has sparked fears of another disastrous situation like the Rudd government's Pink Batts scheme, where four men died doing installation work. The Albanese government claims it will cut the price of battery installation by 30 per cent through its major rebate geared at bolstering the nation's renewables shift. 'Even that small percentage of unsafe systems is big enough to create real worries about what the scheme might do with the tidal wave of what's going to happen around all these installs,' Mr Lazarus told Sky News Business Editor Ross Greenwood.
Sky News AU
6 days ago
- Business
- Sky News AU
Pink Batts disaster invoked over Albanese government's $2.3 billion solar batteries installation scheme
Labor's $2.3 billion bid to cut the price of solar battery installation has sparked fears of another disastrous situation like the Rudd government's Pink Batts scheme where four men died doing installation work. Join to watch the full interview on Business Weekend at 11am (AEST). The Albanese government claims it will cut the price of battery installation by 30 per cent through its major rebate geared at bolstering the nation's renewables shift. It has rekindled memories of Labor's Pink Batts scheme under former prime minister Kevin Rudd's Home Energy Efficiency Program where young, inexperienced installers were not protected and died on the job. A Royal Commission found the deaths of the young men would not have happened if the scheme was properly designed and implemented. Industrias Services Group CEO Daniel Lazarus has invoked the horror scheme just weeks ahead of Labor rolling out the new rebates. 'We've audited thousands and thousands of systems and batteries across the country over the last ... 12 months and I've seen a material amount of these batteries and solar systems, which are either substandard or a small percentage of being unsafe,' Mr Lazarus said on Sky News' Business Weekend. 'Even that small percentage of unsafe systems is big enough to create real worries about what the scheme might do with the tidal wave of what's going to happen around all these installs.' He noted the design of the installation program was currently 'sound' and stressed that he was confident around industry standards, but warned Aussies would take advantage of the huge swath of rebates. 'The problem is with this huge influx of rebate schemes,' Mr Lazarus said. 'What will happen with the inevitable influx that will come within the industry to take advantage and what are they going to do to try and maximise the rebate that they obtain? 'How will they take advantage or at least avoid dodging a lot of these elements that are required to receive the rebate, that being standards?' Despite protocols and standards that arose since the Royal Commission into the Pink Batts scheme, there remains a lack of key inspection mandates across the country, Mr Lazarus cautioned. 'What we're really advocating to industry is around how do you make it such that either all systems, or at least the majority of systems, installed by every installer that's taking advantage of this rebate scheme, is getting physically inspected,' he said. The rebates under the Pink Batts scheme led to the number of businesses in the installation sector rising from 200 to more than 8000. It was originally meant to run for five years but finished after just one year and about 30 per cent of inspected installations in 2010 were found to have faulty craftsmanship or to be unsafe. Mr Lazarus said while there were a few fatalities, alongside less than 100 fires, it would only take a small number of incidents to destroy the whole scheme. 'The last thing that I want to see is a scheme like this which is meant for specific homeowners and the distribution of energy to be called off early,' he said. Labor said it expects to deliver more than one million batteries under its scheme.
The Age
6 days ago
- Business
- The Age
Four years ago, 800 teenagers left school. Then, they were tracked
The study monitored 800 students who left high school in 2020 while receiving support from the charity. Unsurprisingly, better school attendance, higher grades and completing year 12 were all associated with better employment and training outcomes, the research found, but access to career advice was fundamental to success. 'Highly engaged young people had clear goals, strong support networks and well-developed career management skills. They successfully navigated alternative pathways, overcame setbacks and adjusted plans while staying on track,' the report said. Last year, the long-awaited Universities Accord set a target for students from poorer backgrounds to make up 25 per cent of university places. The Rudd government in 2009 set a target of 20 per cent, but universities have so far failed to achieve anywhere close to that. There were 66,000 students from disadvantaged backgrounds in tertiary education in 2023, federal Department of Education data shows, about 16.9 per cent of all students. There has also been a decline in the number of students taking up initial teacher education degrees, as well as a slight decrease in those taking up nursing, while society and culture courses were also down. By comparison, information technology, engineering and hospitality and personal service courses were up, the data released in March showed. Loading The Smith Family said its report indicated schools needed to focus on intentional career development learning which should include personalised career advice and support. The report also found while 87 per cent of young people from a disadvantaged background were either working or studying three years after leaving high school, those who had work were often in insecure, part-time jobs which had very limited opportunities for promotion. The charity's head of research and advocacy Anne Hampshire said career counselling must connect young people with the world of work beyond school. 'Many of the young people we spoke to wanted much more personalised careers advice, thinking about what they were interested in, helping them to connect to employers, helping them to get exposure to different industries and particularly new jobs that are going to be created in the future,' she said. 'We cannot expect the one lone careers adviser to provide that support for the whole of the school. What works much, much more is when there are partnerships developed ... to really support within the school, young people to have access to employers, to universities.' McCullough knows the value of supporting boys from disadvantaged backgrounds first-hand. After his stints as a plumber and plasterer, he landed a job as a trainee with Top Blokes, a charity organisation which runs mentoring programs for young men focused on healthy masculinity, respectful relationships, mental health, leadership, and positive decision-making. 'I wanted to do something where I can connect with people more on that psychological level,' he said. Sara Abdalhadi graduated from Liverpool Girls High School last year and knew she always wanted to be a doctor. Having the goal was the easy part: actually securing a spot in a pre-med program meant she needed to be tactical about her academic focus. Fortunately, career counselling was readily available at her school. 'My career adviser was my rock,' she said. She met her every fortnight last year and, Abdalhadi said, helped her balance the competing priorities of getting the required ATAR, scoring well in the medical school admissions test and succeeding in an interview. 'I think she kept me going. Like, obviously, everyone has their bad days, and everyone loses hope sometimes, especially when you're coming from, like, a school that is not as recognised as other schools,' she said.
