Categories
Business

Here’s why Trivago CEO believes travel will be even more expensive

Aussies are keener than ever to hop on a plane and escape what has been a pretty rough past few years.

Almost 57 per cent of Aussies are planning a getaway in the next 12 months which is up 49 per cent from December, according to Finder’s Consumer Sentiment Tracker.

However, travel at the moment comes with a heftier than usual price tag.

KAYAK’s data shows the average return economy international flight price in Australia based on flight searches in July (between July 1-18) was approximately $1761 – an increase of about 14 per cent compared to the same period in May (between May 1-18) .

Meanwhile, the consumer price index (CPI) July report shows plane tickets have soared 27.7 per cent on a year-over-year (YoY) basis.

And sadly it is a tendency likely to stick around for a bit longer, according to Angus Kidman, travel expert at Finder.

“Sale fares are definitely higher than they were pre-pandemic. Tiger used to regularly offer $9 domestic fares,” Mr Kidman said.

“We won’t see that again. Jetstar has offered a handful of $22 fares this year, but only outside of peak periods and for a tiny number of seats.”

He said Virgin’s floor in sales is now generally $49, and for Qantas it’s rare to see any sub-$100 flights.

“I don’t expect we’ll see much change to that in 2022. The arrival of new competitor Bonza may create a little price pressure, but many of its routes are regional and I’m expecting that it will be charging well over $100 for a seat most of the time.”

‘On the rise’

Trivago (TRVG) CEO Axel Hefer believes “costs will continue to go up”, attributing it to staffing shortages and labor costs.

“You see a fundamental shortage of people in travel and hospitality, and the reason is that a lot of companies have actually reduced their staffing during the pandemic,” Mr Hefer told Yahoo Finance.

“[Companies] are now struggling in very tight labor markets to staff up again. So they will have to pay up, and that cost will be passed on.”

Flight cancellations

The Bureau of Transportation Statistics quantified that 88,161 flights have been canceled so far this year, with many being attributed to staffing issues.

Virgin Australia, Qantas, and Air New Zealand were all named among the global airlines with the current highest cancellation rates, while Singapore Airlines was noted as the carrier with the lowest cancellation figure.

The new data, compiled by aviation analytics company Cirium, looked at flight data from 19 major airlines in the three months to July 26 which revealed Virgin Australia to have one of the highest cancellation rates at 5.9 per cent.

Air New Zealand and Qantas were also named in the top five airlines with high cancellation rates, at 3.7 and 3.3 per cent respectively.

Singapore Airlines, which remains the top international carrier in Australia, was dubbed the most reliable airline, with a 0.8 per cent cancellation rate.

Notably, of all 19 studied carriers, Virgin boasts the smallest international network, possibly skewing the data, according to Australian Aviation.

Australia’s worst month for flying

Australian airlines recorded their “worst ever” month in June for flight delays and cancellations with a total of 5.8 per cent of all flights canceled – nearly three times more than the long-term cancellation average.

There were 63 per cent of all flights arriving on time in June, with 61.9 per cent departing on schedule, the Bureau of Infrastructure and Transport Research Economics (BITRE) report found.

BITRE said these figures mark “the worst” the industry has seen since records began in November 2003.

The report looked at delays and cancellations across all major Australian airports in the month of June.

The severe disruption was fueled by staffing shortages, staff sicknesses, mid-year school holiday travel surges and severe weather events, including flash flooding throughout NSW.

Qantas recorded the highest percentage of cancellations at 8.1 per cent during the month, followed by QantasLink, Virgin Australia, Jetstar, Virgin Australia Regional Airlines and Rex Airlines.

Qantas recorded just over half of their airlines arrived on time in June, at 59 per cent, while Virgin achieved the highest level of on time departures among the major domestic airlines at 60 per cent.

A Qantas spokesperson told NCA NewsWire the flight delays and cancellations were not the kind of performance that they were delivering pre-Covid.

“A rise in Covid and other illnesses among airline crew as well as the tight labor market led to flight disruptions for all domestic airlines in June,” they said.

“We had rostered additional crew on standby which helped lessen the impact of Covid-related crew absences and meant 85 per cent of our domestic flights for the month departed within an hour of schedule.”

“Flight cancellations in July were lower than they were in June, call center wait times are now better than they were pre-Covid and our mishandled bag rates are close to what they were before the pandemic.”

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Categories
Entertainment

Anne Heche ‘not expected to survive’ car crash, actor’s family says | Anne Heche

The family of Anne Heche say the US actor is “not expected to survive” a severe collision that left her vehicle engulfed in flames last Friday.

In a statement, Heche’s family said through a representative that she had suffered “a severe anoxic brain injury” and was now being kept on life support to determine whether her organs were viable for donation.

The family said it had “long been her choice” to donate her organs.

“We want to thank everyone for their kind wishes and prayers for Anne’s recovery and thank the dedicated staff and wonderful nurses that cared for Anne at the Grossman Burn Center at West Hills hospital,” the statement read.

“Unfortunately, due to her accident, Anne Heche suffered a severe anoxic brain injury and remains in a coma, in critical condition. She is not expected to survive.”

“Anne had a huge heart and touched everyone she met with her generous spirit,” the statement added. “More than her extraordinary talent, she saw spreading kindness and joy as her life’s work — especially moving the needle for acceptance of who you love. She will be remembered for her courageous honesty from her and dearly missed for her light from her.

On Thursday, police told CNN that they were investigating whether Heche was impaired at the time of the incident following a blood draw but that “additional testing is required to rule out any substances that were administered in the hospital,” officer Annie Hernandez said.

He crashed her car into a house in the Mar Vista area of ​​Los Angeles, near her own home, at speed on Friday. The collision caused a fire that took an hour to extinguish, according to reports.

The occupant of the house escaped without injury; Neighbors told Fox News that the car had ploughed right through the house. “The windows were broken, so I opened the back door of the car. [Heche] answered and said she was not OK, so that was tough. I know they didn’t get her out of the car until the fire was pretty much put out.”

Heche, 53, is known for her work on films including the remake of Psycho, Donnie Brasco and Cedar Rapids.

Press Association contributed to this report.

Categories
Australia

Port Hedland wins WA’s Sh**test Town contest, snatching crown from Kalgoorlie-Boulder

Port Hedland has officially snatched the crown from Kalgoorlie-Boulder, being voted in as WA’s Sh**test Town.

Kalgoorlie-Boulder has won the past three years, however Port Hedland won the dubious award for a single point this year, taking their debut title for the WA division.

In a brutal statement from the Sh**test Town of Australia organisers, the Port Hedland is described as a “derelict minerals discharge hole”, painting images of a mate in a sandpit after a big night, spitting out whatever comes.

Your local paper, whenever you want it.

“The iron anus owes its name to its turd-brown eyesore of a port… and its inhabitants’ inability to spell,” the statement read.

“Cattle and sheep farming was once a major industry for the town, but this ended when the animals all withered to a crisp. The only fauna able to survive Port Deadland’s intense heat are creatures like red-necked stints, red-necked avocets and red-necked people.”

The locals call their home the sunniest place in Australia — a great feat — however they sadly forgot to coat the surroundings in Banana Boat.

This has resulted in the landscape being deep-fried and sun-dried to a dusty brown colour, not unlike the inside of a plumbing pipe.

The engineers were focused on other things that day because the road layout is reminiscent of a circular maze; going in circles but never really arriving anywhere.

And when cyclone season hits, the spectacular drainage system clogs in record time, allowing roads to flood superbly and locking everyone inside.

Port Hedland port
Camera IconPort Hedland port Credit: james lauritz/supplied by Port Hedland Port Au

Currently the town is best known as an iron-ore hub and a spawning point for FIFO workers.

“Popular pastimes include racing wheelbarrows, smashing people’s solar panels and being hospitalized with a respiratory infection caused by iron ore dust,” STOA added.

Later this year Port Hedland will represent WA for a chance to win the national trophy.

In third place for WA came Fitzroy Crossing, followed by Armadale, Rockingham and Geraldton.

Perth came in at 11th place for the State.

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Categories
US

Ohio standoff – latest: Ricky Shiffer may have left final message on Trump’s social platform before being shot in FBI standoff

Eric Trump blames Biden administration after FBI raid on Mar-a-Lago

Law enforcement officers in Ohio shot and killed Ricky Shiffer, 42, after the armed man threatened an FBI field office in Cincinnati on Thursday morning then fled.

After a daylong standoff in a cornfield in Wilmington, Ohio, officers fatally shot Shiffer, who they say resisted negotiations and pointed a gun towards police.

Earlier that morning, officials say Shiffer fired a nail gun and brandished an AR-15-style rifle at FBI agents then fled in his car.

Highway troopers chased the man after finding him at a rest stop, before he eventually abandoned his car and fled into a cornfield, exchanging gunfire with police.

Officers surrounded the field and surveyed it with helicopters and drones for hours.

Police are investigating whether the man had any ties to the January 6 riots at the US Capitol.

Social media accounts appearing to belong to Shiffer indicate he may have been present during the insurrection.

The incident comes as numerous prominent conservatives have trained their ire at the FBI, after the agency carried out a search at Donald Trump’s Mar-a-Lago club in Florida as part of an investigation into the mishandling of White House documents.

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FBI director calls attack on Ohio agents ‘deeply concerning’

ICYMI: FBI Director Christopher Wray called Thursday’s attack on an Ohio FBI office “deeply concerning.”

“Violence and threats against law enforcement, including the FBI, are dangerous and should be deeply concerning to all Americans,” Mr Wray wrote in a statement to NBC News. “Every day I see the men and women of the FBI doing their jobs professionally and with rigor, objectivity, and a fierce commitment to our mission of protecting the American people and upholding the Constitution.”

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Ricky Shiffer being labeled ‘suspected domestic violent extremist’ – report

Authorities have said the Ohio shooting suspect Ricky Shiffer is being labeled as a “suspected domestic violent extremist”, according to a tweet by ABC’s chief investigative reporter Josh Margolin on Friday.

The report cited law enforcement officials who have been briefed on the probe.

Shiffer, who was shot dead by the FBI, allegedly threatened the investigative agency’s office in Cincinnati on Thursday around 9am, firing a nail gun at staff and brandishing an AR-15-style rifle, before driving away.

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Police identify man who threatened Ohio FBI office

ICYMI: Officials have identified Ricky Shiffer, 42, as the armed man who threatened the Cincinnati field office of the FBI.

Officers shot and killed Shiffer after a prolonged standoff in a cornfield near Wilmington, Ohio.

Police reportedly tried to negotiate with the individual and use non-lethal tactics to arrest him, before the 42-year-old raised a gun at officers and was killed, the Ohio State Patrol said.

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Ricky Shiffer: Everything we know about Ohio gunman who attacked FBI

Ohio native Ricky Shiffer was shot and killed by the law enforcement officers on Thursday afternoon after he launched an attack on an FBI field office in Cincinnati.

The 42-year-old suspect was armed with a nail gun and an assault rifle.

Resident of Columbus, Shiffer had reportedly posted a string of violent remarks on his social media account on Truth Social in the recent months leading to the attack.

Josh Marcus reports on everything we know about Ricky Shiffer:

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FBI probing Ohio shooter’s social media presence, ties to right-wing extremism – Report

FBI investigators are probing Ohio shooting suspect Ricky Shiffer’s presence on social media platforms, and whether he had any links with right-wing extremism, CNN reported, citing a source.

The officials are also looking into whether the suspect had any connection with any of the groups involved in the Capitol riots and if he was himself involved in the violent attack, reported CNN citing a separate federal law enforcement source.

According to a Truth Social account reported to belong to the shooting suspect, Shiffer referred to making an attempt to storm an FBI office and also urged others online to brace for a war for revolution, the report added.

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Armed man who threatened FBI office in Ohio shot by police

ICYMI: Police have shot and killed Ricky Shiffer, 42, an armed man who threatened an Ohio FBI office on Thursday morning, leading to a prolonged car chase and standoff throughout the day.

Here’s the Ohio State Patrol announcing what happened.

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Standoff over as Ohio officials probe whether man who threatened FBI had Jan 6 ties: officials

ICYMI: An hourslong standoff between Ohio police and an armed man accused of threatening a Cincinnati FBI field office on Thursday has come to an end, according to local officials.

“Law enforcement operations and response has ended,” Clinton County Emergency Management Agency announced on Thursday.

It’s unclear whether the individual—who allegedly fired a nail gun and brandished an assault rifle at FBI agents, and later shot at police—has been arrested, killed, or otherwise.

Police are now probing whether the man, unofficially identified by two anonymous law enforcement sources in New York Times as Ricky Shiffer, 42, has any ties to the January 6 attacks on the US Capitol in 2021.

Social media accounts appearing to belong to the man indicate he was present in Washington on 5 and 6 January for pro-Trump demonstrations, and claimed to have been present at the storming of the Capitol.

More details to come on this breaking news story.

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Standoff with man who threatened FBI has ‘ended’: officials

ICYMI: The hours-long standoff on Thursday between Ohio police and an armed man accused of threatening a Cincinnati FBI office has ended, according to county officials.

The Clinton County Emergency Management Agency announced that “law enforcement operations and response has ended. Some operations will continue on-scene,” in a terse update on Thursday evening.

It’s unclear whether the individual was arrested, killed, or otherwise.

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Witness describes watching FBI chase armed assailant

ICYMI: Farmer Rob Thompson was stunned this morning as a blazing police chase sped past his farm in Wilmington, Ohio.

“I thought, since we are by the interstate, that they were just chasing a speeder,” Mr Thompson told New York Times.

But it was far from just a speeder. Instead, officers are still in pursuit of an armed man who allegedly threatened an FBI office in Cincinnati this morning.

The farmer said he wasn’t worried about his safety.

“He could be in the cornfield or a thicket of trees nearby, but they have him contained,” he continued.

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Die-hard Trump fans claim Ohio FBI shootout is a ‘false flag’ attack

Well, that didn’t take long.

The diehard Donald Trump fans on r/TheDonald, a popular (and often NSFW) Reddit page, are claiming that the armed threats against an FBI field office in Ohio today were “staged.”

As NBC News reporter Ben Collins reports, nearly “every top post” on the page at the moment has some version of the conspiracy theory.

Speculation about the FBI has been flying in conservative circles since the Justice Department raid on Donald Trump earlier this week.

Categories
Business

Elon Musk’s SpaceX Starlink internet proposal rejected

Elon Musk’s space company SpaceX recently had an internet proposal rejected by the Federal Communications Commission, a US government agency.

The rejection cited SpaceX’s failure to meet promised expectations.

The rejection denied SpaceX over $A1.25 billion in funding to offer broadband internet to rural areas via the SpaceX Starlink satellite system, and also canceled nearly $A1.5 billion in funding for LTD Broadband.

The FCC, in its rejection, stated that SpaceX “failed to demonstrate that the providers could deliver the promised service”.

First noticed by Slashgear, the FCC is currently administering proposals to allocate funds from the Rural Digital Opportunity Fund (or RDOF) to build infrastructure that would deliver affordable and high-speed internet to the many rural locations throughout the United States.

In order to meet the minimum threshold for the funding, SpaceX had to show that the internet services being offered could meet the 100 Mbps down, 20 Mbps up speeds — the absolute minimum to be considered ‘low-latency’.

Ookla, a company that provides analysis of internet access, including data transfer rate and latency, noted that SpaceX’s Starlink system was failing to meet these minimums regularly. Citing these results, FCC chairwoman Jessica Rosenworcel said: “[The government cannot] afford to subsidise ventures that are not delivering the promised speeds or are not likely to meet program requirements.”

She continued, stating that the agency avoids risky investments “that promise faster speeds than they can deliver” or “plans that are not realistic or that are predicated on aggressive assumptions and predictions.”

The rejected proposal would have had customers paying nearly $A850 upfront, with an additional $A160 monthly, something the FCC noted was not worth publicly subsidising. SpaceX isn’t out of the running quite yet, however, as the company can reapply for subsidies in the next round of RDOF funding.

Elon Musk has no shortage of problems outside of SpaceX as well. He currently is selling off a huge amount of stock amid legal fears of his potential buyout of Twitter.

While that’s happening, he’s also having a few problems with his family speaking to the press, asking his own father to ‘Please keep quiet,’ instead of speaking with reporters.

Written by Junior Miyai on behalf of GLHF.

Read related topics:Elon Musk

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Categories
Entertainment

West Side Story star Rachel Zegler defends intimacy coordinators after Sean Bean criticism | film industry

Rachel Zegler, the actor who rose to fame as the lead in Steven Spielberg’s West Side Story, has spoken up in support of intimacy coordinators, after criticism of the role by Sean Bean earlier in the week.

Speaking to the Times, Bean said such coordinators – largely brought in post #MeToo to help police on-set safety – can “spoil the spontaneity” of shooting a sex scene.

“It would inhibit me more because it’s drawing attention to things,” Bean said. “Somebody saying: ‘Do this, put your hands there, while you touch his thing.”

“I think the natural way lovers behave would be ruined by someone bringing it right down to a technical exercise,” he added. Bean, who starred in Lord of the Rings and Game of Thrones, compared recent experiences to his time shooting a 1993 TV adaptation of Lady Chatterley’s Lover opposite Joely Richardson.

“Lady Chatterley was spontaneous,” Bean said. “It was a joy. We had a good chemistry between us, and we knew what we were doing was unusual. Because she was married, I was married. But we were following the story. We were trying to portray the truth of what DH Lawrence wrote.”

A young Sean Bean (right), with Nigel Terry and Tilda Swinton in Derek Jarman's Caravaggio (1986).
A young Sean Bean (right), with Nigel Terry and Tilda Swinton in Derek Jarman’s Caravaggio (1986). Photograph: Bfi/Allstar

Writing on Twitter, Zegler took issue with Bean’s position, saying intimacy coordinators “establish an environment of safety for actors” and that “spontaneity in intimate scenes can be unsafe. Wake up.”

She expressed her gratitude to the coordinator who worked with her and Ansel Elgort on West Side Story, saying “they showed grace to a newcomer like myself + educated those around me who’ve had years of experience.”

The Broadcasting, Entertainment, Communications and Theater Union issued a statement saying they found it “disappointing to hear these comments from such a screen favorite and established actor without acknowledging his position of privilege and the vulnerabilities and challenges many in the industry, particularly young and less experienced actors, may face as they engage in shooting intimate scenes.”

Added Bectu head Philippa Childs:

“Intimacy coordination provides vital support for artists during the preparation, rehearsal and shooting of intimate action and its increasing use is a welcome move to further establish an environment of safety for actors on set.

“These comments display a disservice to intimate co-ordinators and to the knowledge and contributions of the trained, skilled professionals our members who carry out this work are. We applaud their commitment to keeping everyone safe and respected on set.”

Bean had also criticized post-shoot editing of intimate scenes, saying that he was saddened to see sexual sequences involving himself, co-star Lena Hall and a mango had been cut from TV series Snowpiercer.

“Often the best work you do, where you’re trying to push the boundaries, and the very nature of it is experimental, gets censored when TV companies or the advertisers say it’s so much,” said Bean. “It’s a nice scene, quite surreal, dream-like and abstract. And mango-esque.”

Asked about the origins of intimacy coordinators, who are seeking to protect vulnerable actors, Bean said: “I suppose it depends on the actress. This one [meaning Hall] had a musical cabaret background, so she was up for anything.”

Hall, who has starred in Broadway productions of Kinky Boots, Cats and Hedwig and the Angry Inch responded by saying that Bean is “an awesome actor and made me feel not only comfortable but also like I had a true acting partner in those bizarre scenes. ”

She added: “If I feel comfortable with my scene partner and with others in the room then I won’t need an intimacy coordinator. BUT if there is any part of me that is feeling weird, gross, over exposed etc … I will either challenge the necessity of the scene or I’ll want an IC [intimacy coordinator].”

Amanda Seyfried in the 2012 Linda Lovelace biopic
Amanda Seyfried in the 2012 Linda Lovelace biopic Photograph: Millennium Films/Sportsphoto/Allstar

Other actors who took issue with Bean’s stance include The Good Place’s Jameela Jamil, who tweeted that sex scenes “should only be technical. It’s like a stunt. Our job as actors is to make it not look technical. Nobody wants an impromptu grope.”

Representatives for Bean said the actor declined to comment further.

In an interview published on Tuesday in Porter magazine, Amanda Seyfried, the Mamma Mia! actor who was Oscar nominated two years ago for her role as Ella in David Fincher’s Mank, said she regretted the lack of intimacy coordinators when she was beginning her career as Ella.

Seyfried said she emerged “pretty unscathed” from her early days as an actor in Hollywood, but reflects on her early experiences with shock at herself and disappointment with others.

“Being 19, walking around without my underwear on – like, are you kidding me? How did I let that happen? Seyfried said. “Oh, I know why: I was 19 and I didn’t want to upset anybody and I wanted to keep my job. That’s why.”

Speaking to the Guardian earlier this year, the director Adrian Lyne also expressed ambivalence about intimacy coordinators.

Ana de Armas and Ben Affleck in Deep Water.
Ana de Armas and Ben Affleck in Deep Water. Photograph: Photo Credit: Claire Folger/Claire Folger

“It implies a lack of trust. And that’s all I have. If the actors don’t trust me, I might as well go home. I’ve gotta make myself vulnerable for them; for them to know I would spill my guts, do anything for them. Then, with any luck, I get the same back.”

I have contrasted shooting his most recent film, Deep Water, starring Ben Affleck and Ana de Armas, who began a relationship on set, with making Fatal Attraction in the 1980s.

The stars of that film, Glenn Close and Michael Douglas, swigged champagne before their first sex scene, and margaritas before their second. “You can’t do that now!” said Lyne. “Why is everything so serious? God, it’s not like they’re gonna get paralyzed or something.”

This article was amended on 10 August 2022 because an image was captioned “Amanda Siegfried in Rian Johnson’s 2012 Linda Lovelace biopic”. Johnson was not the director of that film.

Categories
Sports

Matt To’omua spills on divorce from Ellyse Perry, engaged to Naomi Cameron

Former Wallabies fly-half Matt To’omua has opened up about his “brutal” divorce from Australian cricketer Ellyse Perry, admitting the taxing order was “not fun at all”.

The sporting power couple, who tied the knot in 2015, announced their divorce in July 2020, confirming the news in a joint statement.

Watch The Hundred. Every Match Live & Exclusive to Fox Sports on Kayo. New to Kayo? Start your free trial now >

“It’s with the greatest of respect for one another that we decided to separate earlier this year,” the pair said at the time.

“We felt this was the right course of action and is in the best interests of each other and our current lives. This is something that has evolved and is a mutual decision.

Throughout our relationship we have remained private and we ask that our space and privacy continue to be respected during this difficult time for both of us.”

The couple went public in 2013 when they appeared at the John Eales Medal awards night together before getting engaged the following year.

Ellyse Perry and ex-husband Matt To'omua.
Ellyse Perry and ex-husband Matt To’omua.Source: Instagram
Ellyse Perry and ex-husband Matt To’omua. AAP Image/Scott BarbourSource: AAP

speaking to the Sydney Morning HeraldTo’omua revealed he had not spoken to Perry in more than a year,

“It was tough,” he confessed. “Not fun. Not fun at all. It sucks.

“You can see why it breaks people. I’m very lucky that I’ve found someone now who’s amazing, but at the time, it was brutal.

“I’m very fortunate that we had no children and, of the divorces, it was a good one in the sense of the separation of those things. The one unique thing being it was public. Getting sprayed while I’m goalkicking or getting abused on some social media platform isn’t great, but they’re minor things.”

Matt To’omua of Australia. Photo by Michael Steele/Getty ImagesSource: Getty Images

To’omua has since started dating forensic psychologist Naomi Cameron, who he met in 2020. They recently got engaged.
Earlier this year, the 32-year-old announced he would head overseas and join Japan’s League One, signing with an unnamed club.

To’omua represented the Wallabies in 59 Tests after making his international debut in 2013, also playing 130 Super Rugby games for the ACT Brumbies and Melbourne Rebels.

Meanwhile, rumors emerged last year that Perry was dating Fremantle Dockers captain Nat Fyfe.

The 31-year-old was part of the Australian squad for this year’s triumphant Cricket World Cup campaign in New Zealand.

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Categories
Australia

John Barilaro pulls out of NY trade inquiry due to ‘mental health reasons’

form NSW deputy premier John Barillaro won’t appear at the parliamentary inquiry into his appointment to the plum New York trade posting today.

Barilaro pulled out of the hearing, citing mental health reasons for his absence.

“Mr John Barilaro has informed the committee that due to mental health reasons he is unable to attend today’s hearing,” the legislative council announced in a statement.

John Barilaro pulled out of the hearing into the New York trade role scheduled for Friday. (Kate Geraghty)

He was meant to reappear before the parliamentary committee to face questions about two ongoing sagas: the appointment process for his trade posting and the latest scandal involving a sacked minister, a property developer and a bombshell resignation letter.

Barilaro has always maintained and followed the correct application processes.

The former Monaro MP was set to face questions about what his partner knew about the $500,000-a-year job.

She worked for the body responsible for hiring people for overseas trade roles when the New York role was advertised.

Shock resignation letter and links to sacked minister

Chandler wrote about links between Petinos’ office and a property developer Barilaro worked for regarding a Merrylands development.

“I have raised with you concerns that I have with the advised relationship of the Minister and Coronation Property Group,” Chandler’s resignation letter read.

The resignation letter has been referred to the NSW Independent Commission against Corruption (ICAC).

NSW Building Commissioner David Chandler
NSW Building Commissioner David Chandler’s resignation letter raises questions about links between Petinos and Barilaro. (The Sydney Morning Herald)

The parliamentary inquiry has been carried out by NSW Labor for almost two months after Barilaro was awarded the US trade commissioner job, which sparked outrage among ministers.

When Barilaro faced a hearing earlier this week, he called the trade job furore a “personal hell” and insisted he had not done any wrongdoing over his application for the role.

Ayres has consistently denied any wrongdoing.

Minister for Small Business Eleni Petinos speaks during Question Time at State Parliament House.  Photo: Wolter Peeters, 16th February 2022, The Sydney Morning Herald.
Eleni Petinos was dragged into the saga after Chandler’s resignation letter. (Wolter Peeters)

Petinos was also removed from the cabinet by NSW Premier Dominic Perrottet over allegations of bullying, which she denies.

The parliamentary inquiry is set to continue next week.

Tanya Plibersek shared a throwback photo to Twitter to remind young Australians to enroll.  The deadline to do so is 8pm tonight.

Throwback photos of federal politicians

Categories
US

Woman dies after being impaled by umbrella

A woman died after she was impaled by a beach umbrella near Myrtle Beach, according to the coroner. (Video above: Morning headlines from WYFF News 4) Chief Deputy Coroner Tamara Willard said the beach umbrella was carried by wind just after 12:30 pm Wednesday on Garden City beach. Garden City is more 10 miles south of Myrtle Beach. The woman was struck and impaled by the umbrella and taken to the emergency room, Willard said. Willard said Tammy Perreault died from chest trauma at 1:30 pm Willard said Perreault was 63-years-old and from Garden City. Scotty’s Beach Bar posted on Facebook about Perreault’s death of her.

A woman died after she was impaled by a beach umbrella near Myrtle Beach, according to the coroner.

(Video above: Morning headlines from WYFF News 4)

Chief Deputy Coroner Tamara Willard said the beach umbrella was carried by wind just after 12:30 pm Wednesday on Garden City beach. Garden City is more than 10 miles south of Myrtle Beach.

The woman was struck and impaled by the umbrella and taken to the emergency room, Willard said.

Willard said Tammy Perreault died from chest trauma at 1:30 pm

Willard said Perreault was 63-years-old and from Garden City.

Scotty’s Beach Bar posted on Facebook about Perreault’s death.

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Categories
Business

When an investment company can be better than a family trust

For example, there are rules around lending money to shareholders. Money slow to shareholders can be treated as taxable dividends or loans subject to relatively high interest and principal repayments. Providing benefits to employees can be seen as remuneration and fringe benefits. Company distributions, or dividends, are limited in their flexibility as to who can receive dividends by the shareholding structure of the company.

However, the flexibility of dividends can be built in when establishing the company by issuing, in addition to ordinary shares, special shares that have no rights other than to be able to receive dividends. These can be held by various family members in such a way that dividends can be declared at any time on any of the shares held, including (or excluding) the ordinary shares.

Dividends don’t have to be paid

One benefit of companies over family trusts is that if dividends are declared, they don’t have to be paid. They can sit in a loan account owing to that individual. Although it can be problematic for the company to make loans to the family, there is nothing restricting the family from making loans to the company.

Another advantage of investment companies for tax purposes is that the company doesn’t have to declare a dividend, compared with trusts that do have to distribute their income. Instead, it can simply retain its profits from investments. This is because companies are a taxed entity in their own right, whereas trusts are not taxed if all the income flows through them, so the beneficiaries pay the tax.

This ability to retain profits can assist with the building of wealth. When shareholders reach retirement, they can draw money tax-free from the built-up loan account, while franked dividends can be paid to shareholders to top up the loan accounts. Often the now-retired individual has minimal other income, so the franked dividends are highly tax-effective.

From a tax perspective, investment companies are slightly less attractive than family trusts as they do not receive a discounted tax rate on capital gains. This results in capital gains being taxed at the company tax rate, usually 30 per cent, whereas a trust could distribute gains to individual beneficiaries who would pay no more than 23.5 per cent if the asset had been held for at least 12 months.

However, investment income generally is taxed in the investment company at 30 per cent, whereas trust beneficiaries might pay up to 47 per cent tax on that investment income.

So investment companies can work well for a family if the company is established with a flexible share structure. The family can loan money to the company, perhaps as a lump sum and/or regular amounts. The company then invests the money and pays its own tax on income generated, usually at 30 per cent. Profits can then be accumulated or paid as dividends.

There is one big caveat to investment companies. It is best for the investment company to avoid “investing” in personal use assets such as holiday homes and cars as this can be interpreted as providing benefits to shareholders and/or fringe benefits to directors. This can certainly complicate matters when it comes to tax time.