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Mum shares the exact time she went into Coles to nab marked-down meat, dairy and bakery items

An Australian mum has shared her incredible bargain grocery haul and revealed the exact time she went to the supermarket to nab the deals.

The woman, from Wodonga, Victoria, managed to score $215.11 worth of goods for just $10.92 when she visited Coles at 8pm.

She bought 26 heavily-discounted items with a range of meats including kangaroo kebabs for just 47 cents, chicken breasts for $1.08 down from $20, bacon for 28 cents a pack and and eight-pack of beef chevaps for 32 cents.

A thrifty mum has shared how she bought $215 worth of groceries for just $10 by going to the supermarket at around 8pm

A thrifty mum has shared how she bought $215 worth of groceries for just $10 by going to the supermarket at around 8pm

Also included in the stash was three liters of milk down to 32 cents, a nine-pack of vanilla cupcakes for 27 cents, ready-made spaghetti meals for just 32 cents each as well as lamington donuts, coleslaw mix, veggie mince, yoghurt, and cream.

The bargain hunter said she was ‘absolutely stoked’ with her impressive haul in a post to a popular Facebook group, Markdown Addicts Australia.

‘Our freezer is now full which is a relief with rising prices,’ she said in the comments.

The post received more than 1,700 ‘likes’ and prompted a flurry of responses from fellow members wanting to know the mum’s budget shopping secrets.

What’s the best time to shop for discounts at a supermarket?

in the morning – shoppers can save between 10 and 20% off goods about to expire

before dinner – shoppers can save up to 50% off goods about to expire

Just before the store closes – shoppers can save up to 90% off goods about to expire

* Markdowns are determined based on store policies and times and may vary

‘Score! Especially in the recent food cost hike. Jealous but stoked for you,’ one woman commented.

‘Price hikes have been insane!’ the poster replied.

‘So jealous I never score great bargains,’ a second wrote to which the shopper said she ‘happened to show up’ as an employee was starting to mark down the items.

‘We went down the aisles then would go back and pick up the bargains as he left,’ she said adding she gave the worker space making sure not to crowd him.

‘So you find these on one section OR do you go around the whole shop finding them?’ another asked.

‘Multiple sections – most meat was in a pile in the meat section, dairy usually put next the milk, cakes & bread together etc,’ the mum answered.

The next evening, the bargain hunter returned to Coles at the same time and picked up $75.60 worth of items that had been discounted to just $3.95

The next evening, the bargain hunter returned to Coles at the same time and picked up $75.60 worth of items that had been discounted to just $3.95

Just a day later, the Wodonga mum picked up another markdown haul when she returned to the same Coles at the same time.

She spent just $3.95 on $75.60 worth of items including plant-based patties, bread, cupcakes, zucchini noodles, loaves of bread and bagels.

‘After last night I wanted to see if I could back it up! Seems our store has decided 8pm is the time to start marking down!’ she wrote in another post.

‘Had to leave after meat but they seem to do bakery then meat, then the dairy fridges and around in a circle.’

Dozens of shoppers have been sharing their tips and tricks for nabbing bargains at the supermarkets amid the rising cost of living.

One woman came across a 500g pack of butter for just $1.88 marked down from $7.50 at her local Central Coast store and purchased the lot.

Shoppers have been sharing their tips for nabbing bargains at the supermarkets amid the riding cost of living including one mum who bought all the marked down butter on the shelf

Shoppers have been sharing their tips for nabbing bargains at the supermarkets amid the riding cost of living including one mum who bought all the marked down butter on the shelf

She shared her find to the group dividing members with some impressed by the bargain while others said she should have left some for others.

The woman, who is a keen baker and uses a lot of butter, attracted more than 1,100 ‘likes’ on her post and sparked a lively debate with dozens of comments.

The post was flooded with comments from disgruntled shoppers who say they ‘would have left some’ for others.

‘I would have left some, as there are many people struggling, good find,’ one person quipped.

chicken

Do you think the mum should have left some marked-down butter for others?

  • And it is 324 votes
  • Nope 209 votes

‘During these hard times and so many people doing it tough I would have left some for someone else. But that’s just me,’ another said.

‘I left ALL the meat. Shelves and shelves of it. I bake ALOT so the butter is great for me,’ the home baker responded.

However, not everyone was unhappy about the Lake Haven woman’s butter haul with many jumping to her defense and complimenting her ‘great score’

‘I would have taken them all, I love a bargain and this is something that gets used daily in my house so you bet if I saw them I’d take em all too!,’ one mum said.

Another Coles customer from Coomera in Queensland bought $170 of chicken as well as a some dairy and deli items for just $25 when she nipped into the store at 7pm on the way home from work for what was supposed to be a ‘quick stop’.

‘One happy house wife. Worth $169.94. Paid $25.20. My fam will start to grow feathers, ‘she wrote in a post with a photo of her budget shop de ella.

Another savvy shopper picked up $170 worth of heavily discounted chicken and groceries for just over $25 however many warned against stockpiling meat close to its use-by date

Another savvy shopper picked up $170 worth of heavily discounted chicken and groceries for just over $25 however many warned against stockpiling meat close to its use-by date

She bought 21 packets of chicken and turkey including whole birds, wings, negs, legs and mince as well as an iced coffee, yoghurt and hummus at just a fraction of the price.

Why you shouldn’t wash raw chicken

Chicken: it’s super tasty and a great source of protein. But it can also play host to nasty bacteria, and all food handlers must be careful preparing it.

For starters, don’t wash raw chicken. The bacteria on its surface can spread in tiny droplets that splash around your kitchen – contaminating surfaces, equipment and other food.

Cooking chicken thoroughly kills the bacteria.

Also, when you’re preparing raw chicken remember to wash your hands before and after handling, and use separate chopping boards and utensils to avoid bacteria spreading to ready-to-eat food.

Playing it safe with food only takes a few seconds.

It’s always worth it.

Source: Healthier QLD

Her post drew in hundreds of comments and prompted a debate among shoppers who cautioned against keeping meat close to its use-by date for too long even when it’s been frozen.

‘Great pick up especially with the cost of meat! But my anxiety would never let me eat it – discounted meat especially chicken is a no go,’ one mum warned.

‘Looks like they’ve been reduced twice, you might want to give it a quick sniff,’ another recommended while a third wrote: ‘I use the rule if it smells and is slimy THROW IT OUT. This applies to stuff in date by days or a day or 2 left and purchased on clearance.’.

‘If you want to eat something that could make you very sick and call it a bargain well I suppose as long as your happy, I truly hope you don’t get serious food poisoning,’ a fifth quipped.

‘Do some of y’all really think when the clock strikes midnight chicken is instantly riddled in salmonella? Like you know that’s not how bacteria works right…’ argued another.

Others suggested opening, repackaging and even rinsing the discounted meat before freezing to check whether it’s safe to eat.

‘Clearance meat (not just chicken) is always opened, sniff, slimy test done, repackaged and frozen,’ one shopper said.

‘I remove from original packaging wash the juice, then portion them in freezer bags and freeze. Once I have got poisoned from was already marinated and cooked without washing,’ a second explained.

Food safety experts however have said not to wash raw chicken as it can spread harmful bacteria around the kitchen.

According to the Queensland government initiative Healthier, washing chicken is not recommended as droplets of bacteria can splash around the kitchen and contaminate surfaces, equipment and other food causing illnesses like Salmonella.

Many of Coles chicken packages advised customers to store at or below 5C and if freezing, do so on the day of purchase and use within a month.

‘Allow to fully thaw in the refrigerator prior to cooking and keep refrigerated until use. Use within 1 days of thawing. Once thawed do not refreeze,’ the package reads.

Simple steps to freezing and thawing chicken meat safely

If you buy raw chicken meat in bulk, it’s likely that you will need to freeze some of it for use later.

Each time you freeze and thaw chicken meat it loses moisture which can affect eating quality, but it is safe to do so, if you follow these tips.

When freezing raw chicken meat:

  • Do it as soon as you get it home (and definitely before the use by date)
  • Freeze it at a temperature below -20°C (most home freezers should be at this temperature)
  • Package into meal-sized portions so that you don’t need to refreeze unused portions again

When thawing frozen chicken meat:

  • Make sure it is thawed completely prior to cooking
  • Thaw in the fridge or the microwave – don’t thaw on the bench
  • If thawing in the fridge, put the meat in a container on the bottom shelf

Throw out meat that has been thawing for more than a day.

How long can you keep chicken frozen before use?

Check the instructions on the door or lid of your freezer for how long poultry, meat etc will last.

From a safety point of view you can store frozen meats for years; however with time there will be a loss in nutrient value and quality.

Source: Australian Chicken Meat Federation

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You can’t afford NOT to invest in crypto and find the next Shiba Inu, suggests new report

Yes, yes… we know. Crypto is about as risky as a game of Russian roulette with an 18th century duelling pistol. Or is it? Actually, scratch that, a new report throws up some surprising data you simply can’t afford to miss. (Possibly.)

Forex Suggest, a Luxembourg-based finance broker, has compiled the stats on a bunch of top-performing cryptocurrencies, as well as some stocks and products, pitting them against each other in a kind of ROI/investment-thesis death match… just without any death, nor much semblance of a match.

In fact, in a further departure from any sense of glitz about this, we’ll forgo the suspense you already don’t have about which category comes out on top. It’s crypto.

The firm’s research is largely based across the past five years of data points, and it reveals that, with a gain of more than 2.2 MILLION per cent during that time, the top-performing crypto has fared more than 2,000 times better than the best- performing stocks. And the other best-in-show ROI cryptos have left stocks in the dust, too.

That’s all despite crypto’s generally pretty crappy year so far in 2022.

Some tables for you…

The top 3 stocks with the best ROI

Rank

Stock

Price five years ago (or at launch)

Current Price*

five year difference
(or since launch) %

Total return on initial $20 investment

1

Tesla

$64.69

$718.84

1,011%

$222.24

two

NVIDIA

$40.63

$187.86

362%

$92.47

3

Manzana

$37.18

$146.14

293%

$78.61

*Price as of June 7, 2022

Source: Forex Suggest Crypto Opportunity Cost report 2022

And now…drumroll…

The top 5 cryptocurrencies with the best ROI

Rank

cryptocurrencies

Price five years ago (or at launch)

Current Price*

Five year difference (or since launch) %

Total return on initial $20 investment

1

Shiba Inu

$0.00

$0.00

2,207,743%

$441,568.63

two

BNB

$0.11

$309.60

287.365%

$57,493.04

3

Axie Infinity

$0.15

$21.91

14.917%

$3,003.43

4

polygonal

$0.00

$0.65

13.526%

$2,725.10

5

Decentraland

$0.02

$1.05

5.657%

$1,151.32

*Price as of June 7, 2022

Source: Forex Suggest Crypto Opportunity Cost report 2022

So there you have it… As a five-year-hold, a coin (Shiba Inu) based round a meme of a cartoon dog that was ripped off another memecoin about a similar dog, has wiped the floor with the very best tech stocks in existence.

In fact, the research shows that if you’d not bought that large pepperoni pizza and longneck of Reschs you tucked into roughly five years ago on a lonely Friday night, and instead bunged the $20 US dollar value on SHIB, you’d have almost 40 billion of the doggie tokens today.

And that translates to about AUD $610,000.

But don’t beat yourself up. you really, really weren’t to know.

Further fun Forex Suggest findings

EV company Tesla had the biggest increase in value of any stock over the past five years, with an increase of 1,011%. Not too shabby… but yeah, still more than 2000x less than the major competitor of Musk-favorite Dogecoin – SHIB.

Some 18 cryptocurrencies outperformed the best stock on the market over the past five years. And that means 18 coins had more than a 1,011% value increase despite crypto crapping the bed somewhat this year.

The top 50 cryptos’ median average increase is 329% compared with the average of the top 50 stocks, which sits at 74%.

rare-earth metal rhodium tops the list of alternative, non-crypto products with the biggest ROI across five years, according to the study. The price of the metal increased by $13,840 over that time; at 1,441.67% gain. A $20 investment in 2017 would now be worth more than… $308.

No, it’s not crypto-gainz territory, but that’s still a fair amount of pizza and beer.

You can view the full research, and how the brokerage firm worked it all out, here.

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Wall Street rallies as inflation cools in July

Prices for bonds soared immediately after the inflation report’s release, pulling their yields lower. The yield on the two-year Treasury, which tends to track expectations for the Fed, fell to 3.19 per cent from 3.27 per cent late Tuesday.

The 10-year yield initially fell, though stabilized later in trading. It edged higher to 2.79 per cent from 2.78 per cent late on Tuesday. It remains below the two-year yield and many investors see such a gap as a fairly reliable signal of a coming recession.

Recession worries have built as the highest inflation in 40 years squeezes households and corporations around the world. Wall Street is closely watching to see if the Fed can succeed in hitting the brakes on the economy and cooling inflation without veering into a recession.

“It’s a very knife-edge type of path that they are trying to tread here,” said Brian Nick, chief investment strategist at Nuveen.

To be sure, inflation is still painfully high, and the expectation is for it to stay so for a while. But Wednesday’s data nevertheless rejuvenated Wall Street, which staggered following a stronger-than-expected jobs report on Friday that raised expectations for a more aggressive Fed. It bolstered hopes that a peak in inflation — and thus in the Federal Reserve’s most aggressive rate hikes — may be on the horizon.

“This is a step in the right direction but keep in mind we have many thousands ahead of us before inflation normalises,” said Mike Loewengart, managing director, investments strategy, at E-Trade from Morgan Stanley.

The Federal Reserve will get a few more highly anticipated reports before its next announcement on interest rates September 21, which could also alter its stance. Those include reports showing hiring trends across the economy due September 2 and the next update on consumer inflation coming on September 13.

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More immediately, reports this week will show how inflation is doing at the wholesale level and whether US households are still ratcheting down their expectations for coming inflation, an influential data point for Fed officials.

Wednesday’s inflation data nevertheless helped stocks across Europe climb to modest gains, while markets that closed earlier in Asia were mostly down. Germany’s DAX returned 1.2 per cent, Japan’s Nikkei 225 fell 0.6 per cent and Hong Kong’s Hang Seng lost 2 per cent.

On Wall Street, companies in the housing industry were strong on hopes that a less aggressive Fed could mean less pressure on mortgage rates. Homebuilder DR Horton gained 4.7 per cent, PulteGroup rose 4.6 per cent and Lennar was 3.6 per cent higher.

Cruise lines and other travel-related companies also made big gains. Carnival rose 9.2 per cent and American Airlines rose 3.1 per cent.

Netflix, a formerly high-flying and high-growth stock that has plunged to be this year’s worst in the S&P 500, was up 6.2 per cent though it remains down by nearly 60 per cent for 2022.

AP

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Gas users and experts call for federal crackdown on east coast ‘gas cartel’

John Irwin is the general manager of Steritech and on the frontline of Australia’s ongoing gas crisis.

“Without natural gas, we don’t operate our operations,” he said.

Steritech was one of the hundreds of manufacturers left exposed to the spot market when energy retailer Weston Energy collapsed in July.

Only two other gas providers were willing to consider signing a new supply deal with Steritech.

“And both of them were very unwilling to negotiate what we would consider a fair and long term price,” Mr Irwin said.

“It’s take it or leave it, you really don’t have a choice.”

Steritech is now paying up to four times what it used to for gas.

Mr Irwin said the dramatic price hike will eventually be passed through to patients on surgery operating tables around the country.

His company sterilises medical devices in procedure packs that are used in approximately 90 per cent of major operations in Australia.

“So increasing the price of those means that your health insurance is going to go up, and governments’ are going to have to spend more money in the public system for the materials being used,” Mr Irwin said.

Plenty of gas

Australia has plenty of gas and for decades the nation enjoyed cheap prices of around $5-a-gigajoule.

Technology enabled gas to be liquefied and sent overseas and Australia’s price became linked to the global market where prices are higher.

Recently prices on the east coast have skyrocketed as producers ramp up exports to supply a desperate global market caught short because of the war in Ukraine.

Mr Irwin does not hold back when it comes to who is responsible for the gas crisis.

“Both sides of politics have been in a situation where I don’t think they’ve represented the country too well,” he said.

“You’ve got to go back and look at who came up with a deal that does not ensure that we had appropriate domestic gas.

“The Australian community owns the gas in the ground, we license it out to gas companies to be able to extract it and deliver it to us, and you would expect that’s going to be done at a fair price.”

Malcolm Turnbull was prime minister in 2017 when he sat down with the heads of Santos, Shell and Origin and got them to agree to supply enough gas to the domestic market to fill projected shortfalls.

But he did not impose export or price controls, much like the current federal government in this current gas crisis.

LNG carrier
Australia exports more LNG than it uses. (Supplied)

Australians have been left paying more for our gas than overseas customers for long periods.

Last week the ACCC delivered a scathing report on the east coast gas market which detailed concerns about price-fixing behavior by exporters.

It also found profits had exploded compared to the cost of extracting gas.

It made similar findings in 2015, concluding that gas suppliers on the east coast had used a market restructure to hike prices on domestic consumers and evidence of collusion.

In its most recent report, the consumer watchdog concluded the east coast market is highly concentrated and dominated by the three LNG exporters, APLNG, GLNG and QCLNG, and their associates – controlling 90 per cent of the proven and probable gas reserves.

The damning ACCC report found exporters were withdrawing more from the domestic market than they were supplying, risking a 56 petajoule shortfall in 2023.

“On top of that it showed that they [exporters] pretty much ignored the heads of agreement that they had agreed with the Australian government [in 2017],” Mark Ogge, principal adviser on climate and energy at the Australian Institute, said.

“They weren’t providing gas at reasonable prices and reasonable terms and conditions to Australian gas customers – they were sending it overseas instead.

“The ACCC report doesn’t use the word cartel, but it describes cartel behaviour.

“If there’s cartel behaviour, if they have been colluding to keep prices high, then they’ve broken the law and that should be investigated.”

Mark Ogge, Australia Institute
Mark Ogge is a gas and energy analyst at the Australia Institute.(ABC News: Peter Drought )

The Australian Energy Market Regulator has said it plans to investigate potentially illegal behavior by the gas companies.

The ACCC said it will review the arrangements of exporters and “where appropriate consider enforcement action”.

Bruce Robertson, an energy analyst with the Institute for Energy Economics and Financial Analysis (IEEFA) said Australia was in “a rolling energy crisis caused by the gas cartel”.

“They control and fix the price through their contracting mechanisms. All these are detailed in the ACCC report, and if it walks like a duck, quacks like a duck, waddles like a duck, it is a duck.

“What the gas cartel is doing is starving the Australian market of gas to force up the price. That’s what cartels do. They fix prices.

“This is a price fixing cartel. It’s illegal and it should be dealt with with the full force of the Australian law.”

Bruce Robertson, Energy Finance Analyst at IEEFA
Energy analyst Bruce Robertson says gas companies on the east coast act like a “price fixing cartel”.(ABC News: Wiriya Sati )

Since the ACCC report was released on August 1, the gas price has been noticeably lower dropping to as low as $10.50-a-gigajoule.

“The gas price was as high as $55-a-gigajoule just two weeks ago in Sydney. So what we’ve seen is a collapse in the gas price. That could not have occurred without the gas cartel fixing the price,” Mr Robertson said.

“They’ve simply flooded the market in the short term, responding to political pressure that has come on with the ridiculous prices that they were charging Australian consumers.”

The peak body for gas producers the Australian Petroleum Production & Exploration Association (APPEA), said prices had dropped because of planned maintenance on LNG export facilities.

“That’s meant more gas has been able to flow into the market because those facilities are down for scheduled maintenance,” Damian Dwyer, APPEA acting chief executive said.

“And that’s a regular thing that happens this time of year and we’ve also seen warmer weather conditions that have meant less draw on gas for heating and power generation purposes than we saw in May.”

Mr Dwyer said there had been no collusion between gas companies.

“There’s been no behavior of that kind going on, what we’ve got is a market that has been under significant pressure,” he said.

“And that’s the energy market more broadly, not the gas market, the invasion of Ukraine and the international geopolitical tensions and disruptions to the energy market that have arisen from that.”

Electricity prices are going up

Gas is known as a price-setter in the National Electricity Market because gas-fired power plants step in to “smooth” the demand for energy when aging coal power stations are down or renewables aren’t working.

“A fair proportion of the electricity we use is generated by gas power stations at the moment,” Mr Ogge said.

“And with the price of gas going up to $40-a-gigajoule it meant that some gas power stations couldn’t produce gas for under $500-a-megawatt-hour.

“Previously the wholesale price of electricity was around $80 MWh, and these enormously high prices will flow onto Australian households and businesses.”

Damian Dwyer, APPEA Acting Chief Executive
Damian Dwyer, APPEA acting chief executive, says there is no east coast gas cartel.(ABC News: David Sciasci)

What’s the solution?

Unlike in Western Australia, which requires companies to reserve 15 per cent of gas for domestic use, there are no export limits or price caps on east coast gas.

Innes Willox from AiGroup said the longer the gas crisis drags on the more justification there was for an east coast reservation policy.

“It really is going to need government intervention, both at a federal and state level,” he said.

“And it’s going to need governments, quite frankly, to put their foot on the throat of gas producers to make sure they uphold their end of the bargain.

Mr Willox spent much of last year acting on behalf of industry trying to set up a code of conduct between gas producers and consumers – in the end, it fell over.

“Gas producers refused to touch issues around price, they wouldn’t go near it with a barge pole,” he said.

“They wouldn’t have price, content transparency as any part of a code of conduct, which rendered any sort of idea of ​​a code of conduct completely useless, quite frankly.”

Innes Willox
Innes Willox, AiGroup chief executive, says without energy at fair prices there will be no industry.

AiGroup does not support a “full blown reservation policy” but one that would only apply to new gas fields and take into consideration a “national interest test” on whether Australia had enough domestic supply.

Mr Robertson disagrees and argues that there should be no hesitation to apply a retrospective gas reservation policy with price controls, because gas companies have broken their original approval conditions by affecting the domestic market with exports.

“These players are now buying gas out of the domestic market, this is in direct contravention of their approval conditions,” Mr Robertson said.

“But law breaking just seems to go on and on in the gas industry in Australia and the government seems impotent.”

Windfall profits tax

Mr Ogge argues for a windfall profits tax, as the UK government has recently adopted in the face of soaring energy prices.

“A windfall profits tax is the only thing that we know will be effective,” he said.

“That’s because it would be very effective in reducing gas prices, because it removes the incentive for the LNG producers to export all their excess gas overseas to cash in on high gas prices.

“And it removes the incentive for them to charge Australian customers exorbitant prices for the gas that we use.

“On top of that, it provides funds for us to compensate Australian customers and businesses and households, and, money to actually help us electrify and get off gas so that we’re not permanently over the barrel of high international prices.”

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Online betting sites top search results for gambling treatment

A Microsoft spokesperson said it took user safety seriously and had removed the PointsBet ad.

“Unfortunately, sometimes ads like this make it through our detection mechanisms,” they said. “When we become aware of these instances, we take action to remove them as soon as possible.”

However, while the PointsBet ads were gone by Wednesday and searches for “gambling treatment” no longer displayed ads, searches for “help” or a “helpline” instead returned ads for other online gambling services, including Neds, Ladbrokes and Palmerbet.

The Microsoft spokesperson said the company acted to remove inappropriate ads as soon as possible, and would then “apply the feedback into our detection mechanisms to improve our ability to detect and remove similar ads in the future”.

Liquor & Gaming NSW is reviewing the advertisement placement. A spokesperson said it would “be engaging with Microsoft directly to express these significant concerns”.

“The placement of this advertising is completely inappropriate and it is concerning that gambling advertisements are being promoted to potentially vulnerable persons who are seeking help,” they said.

Charles Livingstone, an associate professor at Monash University and head of its gambling and social determinants unit, said online gambling advertising was designed to present betting as a fun activity while enjoying sport and TV shows.

“It’s an appalling outcome for people to have to grin and bear that kind of interference with getting help,” he said. “It’s like having to pass through a gamut of heroin dealers while getting help for a drug addiction.”

According to Nielsen Research, the gambling industry spent $287.2 million on advertising in Australia in 2021, excluding stadium advertising and sponsorships. The figure was more than triple its 2011 spend.

In 2018, Australia introduced a ban on advertising betting products during live sport broadcasts on TV and online between 5am and 8.30pm.

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Livingstone said more regulation of gambling advertising in the online space was a “no-brainer”.

“If you want to stop new recruits being drummed up by these operators, we need to think about where they are coming from, and how they are being kept there,” he said.

Hamilton agreed advertising regulation needed to be part of the strategy used to address online betting in the community, noting it was a rapidly growing form of gambling but “significantly underrepresented” in treatment presentations and research.

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Melbourne Airport removes T3 security, forces passengers via T4

Melbourne Airport’s ambitious plan to link Terminals 3 and 4 has finally come to fruition, although a removal of security screening at T3 – home to Virgin Australia – now sees passengers forced to walk to T4 for checks before heading back for their flight.

It’s the sting in the tail of the hub’s $30 million transformation, which the airport described as ‘an elevation to the traveler experience’. The project’s centrepiece is an indoor walkway linking the landside departures levels of Terminals 3 and 4.

Among the upsides though are greater connectivity between the terminals, in addition to smart security technology, also seen at the Gold Coast and Sydney T3. This time-saving tech allows travelers to keep laptops, tablets and liquids in their bags.

Two extra security lanes have also opened to meet increased demand.

Melbourne Airport says its T4 scanners halve the time it takes to go through security.

Melbourne Airport says its T4 scanners halve the time it takes to go through security.

Melbourne Airport CEO Lorie Argus says the upgrade work – which also includes new amenities at T4 – was much needed, with the terminal receiving no significant works in over 20 years.

“One of the biggest pinch points for Virgin guests has been the security check points, and we expect this change will help improve the experience for passengers as they pass through screening,” Argus explains.

“A lack of space means expanding existing checkpoints to accommodate modern technology was not an option, but we think consolidating the screening operation results in a better outcome for passengers.

As part of the linkway, the Virgin Australia lounge is now located in the secure airside zone, meaning premium travelers will be able to enjoy the facilities right up until boarding.

Here is a map of the new Departures process…

…and also the Arrivals.

Paradoxically, Melbourne Airport says that “under the (T3) reconfiguration, domestic travelers will have more time to relax inside restaurants and retailers before boarding their flights.”

We’d suspect they’ll have less time if they have to walk from the T3 check in desks through to T4 for security screening and then walk back to T3 again – especially if their Virgin Australia flights are departing from the higher-numbered gates 7 through 10 at the top of the T3 pier.

One Melbourne-based frequent flyer told Executive Traveler that he expects that even with the T4-T3 walkway located behind security, that could come close to a 10-minute walk.

The new parents' room at T3.

The new parents’ room at T3.

That said, there are several upgrades to love, including:

  • a more streamlined exit point in arrivals to “intuitively guide guests to outdoor transport options”
  • upgraded bathrooms at T3, which include all gender areas, adult change rooms, and assistance animal relief spaces
  • a parent’s room featuring “interactive full-length walls so children can play and stay entertained while their guardians tend to other needs.”

In addition to the new T3-T4 indoor walkway located before security, the current walkway between T3 and T4 past the Virgin Australia lounges will be opened up, with its own security checkpoint removed, to serve as the post-security or ‘airside’ connector.

As previously advised to executive traveler by a Melbourne Airport spokesperson, Virgin passengers with only cabin bags should check in online or via the Virgin app and head straight to T4, while also pointing out that some Virgin flights depart from T4.

What about Virgin’s promised T3 Premium Entry?

Interestingly, many of these changes – including the inter-terminal walkway and the relocation of T3 security to T4 – were first announced in December 2017 in partnership with Virgin Australia, with work scheduled to begin in 2018 for completion by 2020.

However, those plans included a “kerbside Premium Entry for Virgin Australia’s Business Class guests and Platinum and Gold Velocity frequent flyers, including dedicated check-in, bag drop and security screening features and direct access to the Virgin Australia Lounge.”

The original plan for T3 included private security screening and direct lounge access for Virgin Australia's premium passengers.

The original plan for T3 included private security screening and direct lounge access for Virgin Australia’s premium passengers.

This would replicate the kerbside Premium Entry facilities at Virgin’s Sydney and Brisbane domestic terminals, although both of those remain closed at the time of writing.

Contacted for comment, a Virgin Australia Group spokesman told executive traveler “Our plans to deliver a Premium Entry at Melbourne Airport remain under review amid the global pandemic.”

“We are committed to working with airports to deliver the world-class Virgin Australia guest experience and we welcome Melbourne Airport’s investment in the Terminal 3 transformation.”

Additional reporting by Chris Ashton.

David

David Flynn is the Editor-in-Chief of Executive Traveler and a bit of a travel tragic with a weakness for good coffee, shopping and lychee martinis.

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Cost of negative gearing tax breaks to rise, economists say

“I wouldn’t be surprised if we got to $5 to $6 billion per annum in net rental incomes, but it won’t go back to previous highs,” he said, adding that it would peak when the average variable rate hits 6 per cent and flow through in the 2023-24 financial year.

He said the cost of negative gearing dropped to a low in 2019-20 due to declining variable mortgage rates and a slowdown in investor lending after macroprudential measures.

But with rates on the rise again that rental income losses is tipped to climb again, experts say.

But with rates on the rise again that rental income losses is tipped to climb again, experts say.Credit:Rhett Wyman

While the current strength of the rental market would help partly offset negative gearing claims, an increasing number of investors piled into the market during the pandemic property boom at significantly higher levels of debt too, Oliver said.

“A 10 per cent rise in rents will partly offset the increased loss of the property of higher rates but if interest rates double it doesn’t nearly offset that increase in interest costs,” he said.

“It’s the same question as ‘will rising wages offset the cost of rising cost for owner occupiers?’ Partly but not much. The rents and wages are going up but when you see a doubling in interest rate costs they’re not going to keep up with that.”

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Independent economist Saul Eslake said the combination of negative gearing and the capital gains tax discount would cost taxpayers significantly in coming years as the tax settings encourage property investors to defer and permanently reduce tax.

“With interest rates rising the probability is more landlords will start reporting losses again and those who do will report bigger ones,” Eslake said.

He said defenders of negative gearing fail to highlight that it is overwhelmingly used by the wealthy to reduce their tax.

“Someone in the top tax bracket is more than three times as likely to be a negatively geared landlord as someone who has taxable income of less than $90,000,” he said.

“It is primarily used by people in the top tax bracket either to get them out or to reduce the amount they pay at the top rate.”

The federal government has ruled out changing negative gearing tax concessions.

The federal government has ruled out changing negative gearing tax concessions.Credit:Peter Rae

Eslake said while it would be in bad faith for the federal government to break their election promise this term, it should be revisited in the next as it would be a fair and equitable budget repair measure in the long term and a policy decision that already lags international standards as the conservative Reagan administration in the US and David Cameron’s government in the UK had already abolished it in the 1980s and 2015, respectively.

“The irony is this is portrayed as a left-wing thing to do. Scaling back tax privileges enjoyed by property investors is not the exclusive preserve of left-wing governments.”

Grattan Institute economic policy program director Brendan Coates said it was inevitable negative gearing would increase.

“It will cost the federal government substantially as interest rates rise. They’ve been going down over time as rates over time have decreased,” Coates said.

Abolishing negative gearing and capital gains tax discounts are some of the easiest measures for budget repair, Coates said.

“The interaction of those two distorted investment decisions, those tax breaks which largely benefit the wealthy, are substantial budgetary costs,” he said.

“One less renter is one more first home buyer which is policy objective in its own right.”

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Report pinpoints Australian capital city neighborhoods worst hit by mortgage stress

In what will be grim reading for some, a property report has zeroed in on the specific Aussie postcodes set to face the worst mortgage stress over the coming months.
More than 1.8 million households are currently in mortgage stress, the report claimed, and that number will spiral with more Reserve Bank rate hikes likely on the way.
A general view of housing construction in the outer Melbourne suburb of Sunbury
Many homeowners are being forced to tighten their belts following the Reserve Bank of Australia hiking interest rates four times in as many months. (Paul Rovere)

Both low-income suburbs and affluent neighborhoods were flagged in the report.

Paul Feeney, chief executive of Otivo, told 9news.com.au he expects another 300,000 households will fall into mortgage stress over the next 12 months if interest rates rise by another one per cent, which is widely anticipated.

“That’s when I think the pressure will really hit,” he said.

“Particularly if inflation keeps going up and wages don’t increase.”

Should Feeney’s prediction materialize, more than half of all Australian households with a mortgage would be in mortgage stress, up to 54 per cent from the current 45 per cent.

Even if households scramble to cope with the steep repayments, Feeney said the level of stress and anxiety inside countless Aussie homes will be significant.

“It is worrying,” he said.

The most vulnerable postcodes fell into “two distinct groups,” Feeney said, lower income households and higher-earning suburbs.

Feeney said he was “very surprised” to see some of Australia’s “more well-off suburbs” now under pressure, including parts of the eastern suburbs in Sydney, inner Melbourne and upscale areas of Perth.

Four-straight RBA hikes was “eating” into people’s surplus savings, he said.

For many, wages have remained static or gone backwards because of rising inflation.

“That’s why we’re seeing… the number of those in mortgage stress increasing.”

For a borrower with a $500,000 loan, the latest RBA decision meant a monthly repayment increase of $140, or an additional $472 every month since the RBA began lifting rates in May.

After August’s announcement, a person with a $750,000 loan is paying an extra $211 each month, up $708 since May.

Those with a $1 million mortgage are paying $281 more each month, which equates to an eye-watering $944 increase.

For its report, which surveyed the cashflows of 52,000 households nationally, Otivo highlighted three postcodes in each capital city set to feel the biggest impact from the most recent RBA announcement.

Otivo defines a household being in mortgage stress when its monthly surplus is reduced to zero or runs into negative because of increased mortgage repayments.

The top three postcodes are highlighted below.

Map of affected Sydney suburbs in the Otivo Mortgage Stress Report.
In Sydney, some suburbs in the Eastern Suburbs will be among those to feel the heat of the interest rate rises. (9News / Otivo)

In Sydney, some parts of the city’s eastern suburbs who have traditionally had very few households with mortgage stress will now begin to feel the heat of interest rate rises.

Suburbs like Chifley, Eastgardens, Hillsdale, La Perouse, Little Bay, Malabar, Matraville, Phillip Bay, Port Botany have gone from 0 per cent mortgage stress to 43 per cent in mortgage stress, the report said.

Map of affected Melbourne suburbs in the Otivo Mortgage Stress Report.
The three Melbourne post codes flagged in the Otivo Mortgage Stress Report. (9News / Otivo)

In Melbourne, the report projected suburbs in the inner-south will be hit hardest.

Many of those suburbs have never suffered mortgage stress, but they will now begin to feel financial pressure over the next 12 months, the report concluded.

Map of affected Brisbane suburbs in the Otivo Mortgage Stress Report.
The top-three hardest hit Brisbane suburbs highlighted in the Otivo Mortgage Stress Report. (9News / Otivo)

In Brisbane, suburbs in Ipswich including Brookfield, Chapel Hill, Fig Tree Pocket, Kenmore, Kenmore Hills, Pinjarra Hills, Pullenvale, Upper Brookfield face mortgage challenges.

The latest RBA hike has led to almost 52 per cent of households in these suburbs falling into mortgage stress, according to the Otivo report

Map of affected Perth suburbs in the Otivo Mortgage Stress Report.
The parts of Perth affected most by RBA interest rate hikes, according to the Otivo Mortgage Stress Report. (9News / Otivo)

Some of Perth’s most affluent suburbs in the prestigious south-west will soon be hit with mortgage stress, the report warned.

Almost 59 per cent of households in postcode 6153 (Applecross, Ardross, Brentwood, Mount Pleasant) will be buffeted by the most recent RBA interest rate announcement.

Map of affected Adelaide suburbs in the Otivo Mortgage Stress Report.
These Adelaide neighborhoods are set to feel the pinch of RBA hikes the most, according to the Otivo Mortgage Stress Report. (9News / Otivo)

In Adelaide, postcodes in the west are set to suffer with rising monthly repayments, because of recent RBA decisions.

Map of affected Hobart suburbs in the Otivo Mortgage Stress Report.
Areas in Hobart predicted to be among the worst affected by mortgage stress in the Otivo Mortgage Stress Report. (9News / Otivo)

The three post codes worst affected in Hobart lie in the city’s north and central neighbourhoods.

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Melbourne rental: Defective window leads to $1200 mold nightmare

A Melbourne man has been locked in a draining battle after discovering a widespread mold issue in his rental property.

It wasn’t until Jason, his wife and son were forced to move out of their two bedroom, Melbourne apartment, that they realized their mold problem was much bigger than anticipated.

Although the issue was enough for the family to terminate their lease early, the father-of-one estimated he’s spent more than $1200 on rent.

This is despite the fact the property has been vacated while work was performed at the property to fix an issue with their window caulking.

“We had to continue to pay rent for something that wasn’t our fault. It was a structural issue. It’s a building defect,” Jason told news.com.au.

After six months of living in their Doncaster East residence, Jason’s wife began noticing mold growing on the balcony door frames in May this year.

However, they say that their property manager advised them to treat the mold with Domestos – a disinfectant which contains bleach.

“We were like OK, but this is a mold issue. We had photos and we asked them if they wanted to send someone out,” Jason said.

“They were like, ‘Use Domestos and if it doesn’t work, then get in touch and we’ll send someone out.’”

While the initial treatment using Domestos worked, the mold returned a few weeks later. Their frustration was compounded by the fact that prior to signing the lease, the family were informed that while the apartment had mold issues and showed signs of water damage, they were told the issue had “all been fixed”.

Around the same time, the family also began getting sick. Jason said both him, his wife and are experienced recurring breathing difficulties and an “itchy feeling inside their nostrils”.

Although the family did visit a doctor, they didn’t know their symptoms could have been connected to the mold that was unsuspectedly growing in their home. Instead they were diagnosed with allergies and prescribed antihistamines.

“If you woke up at seven o’clock in the morning, you’d be sneezing until midday,” he said.

“We just thought it was maybe a cold because it was winter but over the course of the next month or so, we decided we would try our best to move out as soon as possible.”

‘It covered a quarter of the wall’

By June, the family had made the decision to end their lease and purchased a property instead. However, while moving out, they made a ghastly discovery.

“The issue is that the mold we saw at the time was just around the door frames, so we didn’t think to remove all our furniture to check if there were further issues,” he said.

“The mold behind the bed head was so significant, it covered a quarter of the wall.

“When we moved the baby change, everything underneath it was filled with mold and it was damp and there was water. It was really bad.”

While Jason was organizing the final cleaning for the apartment, they were informed by the agency that a builder had identified an issue with the caulking in the windows, which had caused the water to leak on the carpet. They were also told that the mold was caused by condensation from a lack of ventilation in the room.

Emails seen by news.com.au, confirmed the correspondence between Jason and the agent.

“The way I read it is that if it’s a ventilation issue, then it’s either a building design issue, or the blame is being put on us for not opening the window,” Jason said.

Despite this, the family was told that they had to continue paying rent until the apartment was re-leased.

“We were like, ‘The builder might need to get out the window guy. The window guy has to then come out to fix the corking, and then they have to fix the carpets.’” Jason said. “That could have taken weeks, if not months.

“Then when we went back and gave them the keys, (the agency) had the tenacity to say, ‘The mold issues still needed to be cleaned, how about I give you the keys back and you go back and use more Domestos?’ ”

While news.com.au approached the agent for comment, a spokesman for the agency declined to comment as a claim has been lodged with the Victorian Civil and Administrative Tribunal (VCAT).

“We must respect the process and not prejudice the tribunal’s decision,” he said.

Changes to mold and rental laws

Their dealings with the real estate agency have left Jason and his wife “incredibly upset”.

“When we found the mould, we were shocked, disgusted and upset,” said Jason.

Under changes to rental law in March 2021, issues related to mold and damp when caused by a building’s structure are now treated as an urgent repair. This classification means rental providers must address these issues as soon as possible.

If the issue is not responded to urgently, tenants can go through VCAT, where the application must be heard within two business days.

Speaking to news.com.au, practicing lawyer and the rental support services manager for Tenants Victoria, Georga Wootton said the renter advocacy group sees complaints about mold triple in winter. Ms Wootten estimates one-in-10 inquiries are currently about issues related to mold and damp.

Although tenants can apply for a rent reduction in issues related to mould, Ms Wootten said that rental providers often “aren’t willingly going to do that”.

“We advise all of our renters that because there’s been a breach of the residential tenancy act – which is to keep the premises in good repair – effectively the property is not in good repair if there’s mold there,” she said.

“So it does mean the renter could be entitled to compensation.”

However she admits this is not an immediate fix.

“There is a bit of a timeline until you might get that compensation,” she said.

“That can be disappointing for some renters because they are in that distressing situation of having to live in a moldy home.”

Still, Ms Wootten advises tenants to continue to pay the rent, so they don’t risk getting a notice to vacate.

“This can happen if you’re more than 14 days in rent arrears,” said Ms Wootten.

“We don’t want to see people to lose their homes.”

‘It’s painful’

After more than a month of back and fourth, the family were informed on Tuesday that the agent had re-leased the property. Since they vacated the property, Jason estimates the family have paid around $1200 in rent while the window caulking was being fixed, plus an additional $220 for the listing to be advertised.

Attempts at brokering an amicable resolution have also failed to the wayside, Jason said.

“I had a conversation with her two days ago. I said, ‘Can we come to something friendly here? Can we stop paying rent?’”

Jason said the drawn out issue has also been taxing on the family’s mental health and financial position.

“It’s really hard because with interest rates going up, it’s difficult continuing to pay rent for something we can’t even release off our books. It’s painful,” he said.

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DOJ preparing to sue Google over ad market as soon as next month | TechnologyNews

United States federal scrutiny of Google’s digital advertising operations can be traced back to the Trump administration.

By Bloomberg

The US Justice Department is preparing to sue Google as soon as next month, according to people familiar with the matter, capping years of work to build a case that the Alphabet Inc. unit illegally dominates the digital advertising market.

Lawyers with the DOJ’s antitrust division are questioning publishers in another round of interviews to refresh facts and glean additional details for the complaint, said three people familiar with the conversations who asked not to be named discussing an ongoing investigation.

Some of the interviews have already taken place and others are scheduled in the coming weeks, two of the people said. They build on previous interrogations conducted during an earlier stage of the long-running investigation, the people said.

An ad tech complaint, which Bloomberg had reported was in the works last year, would mark the DOJ’s second case against Google following the government’s 2020 lawsuit alleging the tech titan dominates the online search market in violation of antitrust laws.

Still undecided is whether prosecutors will file the case in federal court in Washington, where the search case is pending, or in New York, where state attorneys general have their own antitrust case related to Google’s ad tech business, the people said.

The Justice Department declined to comment.

“Our advertising technologies help websites and apps fund their content, and enable small businesses to reach customers around the world,” said Google spokesperson Peter Schottenfels. “The enormous competition in online advertising has made online ads more relevant, reduced ad tech fees, and expanded options for publishers and advertisers.”

The DOJ’s ad tech probe is an example of the federal government’s push to rein in the largest US technology platforms after nearly a decade during which regulators took little to no action. The Federal Trade Commission has sold Meta Platforms Inc. seeking to force it to sell off Instagram and WhatsApp and is investigating Amazon.com Inc. over its control of online retail.

Apple Inc. is also under investigation by the Justice Department related to its tight control over the App Store. These types of probes are difficult, taking years to prepare and resolve as they wend their way from investigation to litigation and appeals.

Federal scrutiny of Google’s digital advertising operations goes back to the Trump administration. Then-Attorney General William Barr sued the Mountain View, California-based company over its search business instead, alleging the company used exclusive distribution deals with wireless carriers and phone makers to lock out competition.

In December 2020, attorneys general for 16 states and Puerto Rico also sued Google for allegedly monopolizing the online digital advertising market. The suit alleges Google reached an illegal deal with Meta to manipulate the online auctions where advertisers and website publishers buy and sell ad space. Meta isn’t accused of wrongdoing in the states’ lawsuit, though regulators in the UK and Europe have opened a probe into both companies over the agreement, nicknamed Jedi Blue.

Google denies the allegations and has asked a federal judge to dismiss the states’ complaint. A hearing on that request is scheduled for later this month.

The search giant is the biggest player in the market for online display ads, which help fund news, sports and entertainment websites. The company owns tools that help websites sell ads, others that help advertisers buy space and the most widely used platform where online ad auctions take place.

Google controlled about 28.6% of the $211.2 billion in US digital ad spending last year, according to eMarketer, while Facebook made up 23.8% and Amazon 11.6%.

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