Finance News

From the monthly archives: November 2019

We are pleased to present below all posts archived in 'November 2019'. If you still can't find what you are looking for, try using the search box.

To tip? Or not to tip? No way!

Posted on Wednesday, November 13, 2019
To tip? Or not to tip? That is the question.   But in my view, it’s got a very simple answer: no.   Lots of things in our culture are becoming increasingly Americanised, with Halloween a couple of weeks ago a good case study. But one thing we don’t need to see creeping in is tipping.   The main reason for that, in my opinion, is that in Australia people are mostly paid a fair wage for the work that they do. Even our lowest paid workers are the beneficiaries of the highest minimum wage in the world. As a result, there’s generally no need to tip just to say, “thanks for doing your job”.   However, in the age of social media, there’s a new and better way to tip: leave a good review. A positive review on Facebook, Google or TripAdvisor for a business that provided amazing service is going to be far more valuable than slinging an extra tenner their way.   Similarly, jumping on your personal Facebook page, or your local buy, swap and sell p ... Read the rest of entry »

Assessing eligibility for the pension against the family home

Posted on Wednesday, November 6, 2019
At what point should the value of the family home be taken into account when assessing an individual’s or a couple’s entitlement for the pension? There’s been a proposal from an ACT academic to reduce the pension for older people whose homes are valued at more than $2 million. He says this would save the federal budget about $6.3 billion. I think this is an interesting conversation. From a technical economic perspective, taking into account all assets (including the family home) when assessing eligibility for the pension is the right thing to do. At the moment, all assets except the family home are taken into account. But if a government were to place a value cap on properties, whose assessment of value would be taken into account? Would it be based on rates notices? Or tax returns (which many pensioners no longer lodge)? Or something else? From a political perspective, making these sorts of changes to pension eligibility would be political suicide. No government – or opposition & ... Read the rest of entry »

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