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Government will require bosses to pay workers their super on payday

<p><em><a href="https://theconversation.com/profiles/michelle-grattan-20316">Michelle Grattan</a>, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a></em></p> <p>A government change requiring superannuation to be paid on payday could mean a young employee will be several thousand dollars better off by retirement.</p> <p>The reform – which will not come in until July 1 2026 – will benefit the retirement incomes of millions of Australians, according to Treasurer Jim Chalmers and Assistant Treasurer Stephen Jones.</p> <p>They give the example of a 25-year-old median income earner presently receiving their super quarterly and their wages each fortnight, who could be about $6000 (or 1.5%) better off when they retire.</p> <p>The ministers argue there will be benefits to bosses, as well as to the workers, in the change. “More frequent super payments will make employers’ payroll management smoother with fewer liabilities building up on their books.”</p> <p>They say payday super will mean employees can keep track of the payments more easily and it will be more difficult for disreputable employers to exploit them.</p> <p>“While most employers do the right thing, the Australian Taxation Office (ATO) estimates $3.4 billion worth of super went unpaid in 2019-20.”</p> <p>The ATO will get extra resourcing to help it detect unpaid super payments earlier. Treasury and the ATO will consult stakeholders on the changes later this year.</p> <p>The ministers say the July 1 2026 start will give employers, superannuation funds, payroll providers and other parts of the superannuation system enough time to get ready for the change.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/204759/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/michelle-grattan-20316">Michelle Grattan</a>, Professorial Fellow, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a></em></p> <p><em>Image credits: Getty Images</em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/government-will-require-bosses-to-pay-workers-their-super-on-payday-204759">original article</a>.</em></p>

Retirement Income

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So close! Sam Armytage’s huge property payday ... ALMOST

<p dir="ltr">Former <em>Sunrise</em> presenter Sam Armytage’s marriage to Richard Lavender has come at a significant personal financial cost.</p> <p dir="ltr">Three months after the couple got engaged and four months before their wedding, Armytage had sold her Burrawang weekender, Pear Tree Cottage, for $3.1m in August 2020.</p> <p dir="ltr">The former <em>Sunrise</em> presenter sold the stunning property to move in with Lavender into his farm at Berrima.</p> <p dir="ltr">The Pear Tree Cottage has been onsold to Max Johnston, the former chairman of Austcann, for a stunning $6m.</p> <p dir="ltr">This is a record price for acreage in the Southern Highlands village, and was sold by Vendor Patsy Peacock, a talent recruitment veteran.</p> <p dir="ltr">The Pear Tree Cottage, is a stunning five-bedroom, four-bathroom homestead with wraparound verandas, and an outdoor fireplace, that was built in 2001.</p> <p dir="ltr">The land size for the property is 20,239 m².</p> <p dir="ltr">Armytage had purchased the property in 2017 for $2.2m.</p> <p dir="ltr">Armytage had also sold her Bondi home to live with Lavender on his rural property, but she still has a city bolthole at Rushcutters Bay and a Hyams Beach retreat.</p> <p><em>Images: Realestate.com.au, Instagram</em></p>

Real Estate

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Reese Witherspoon's latest property payday

<p>Reese Witherspoon has sold her Los Angeles estate, scoring nearly $8 million more than what she purchased it for less than two years ago.</p> <p>Witherspoon and her husband, Jim Toth, picked up the traditional English country-style mansion in the Brentwood area in 2020 for $21.9 million (US$15.89m).</p> <p>The famous couple listed the house up for sale with $35.5 million (US$25m) asking price, with the property now pending sale for $29.7 million (US$21.5m).</p> <p>The newly renovated home measures over 960 sqm, with seven bedrooms and 10 bathrooms. It features custom-designed finishes, woodwork, and an open floor plan.</p> <p>The main level features a living room with French doors, a dining room, a family room with a bar, a wood-panelled office or library, a chef’s kitchen, and a breakfast room.</p> <p>Out back, the 3.1-acre lot includes a blue-tiled pool and spa, a limestone barbecue, an eight-seat bar. Perfect for hosting guests during the summer.</p> <p>The home is just minutes from Brentwood, Santa Monica, and Pacific Palisades making it the ideal LA location.</p> <p><em>Image: Real Estate</em></p>

Real Estate

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Huge payday for Cleo Smith's parents

<p dir="ltr">Just weeks after the alleged abduction of four-year-old Cleo Smith, the girl’s parents reportedly signed a $2 million deal with Channel Nine.</p> <p dir="ltr">Cleo Smith made international headlines in November after she was allegedly abducted from her family’s campsite in Western Australia, before being found alive and well 18 days later.</p> <p dir="ltr">Cleo's mother Ellie Smith and stepfather Jake Gliddon agreed to a tell-all interview with 60 Minutes, in what is believed to be Australia’s most expensive television deal.</p> <p dir="ltr">Reportedly organised by high profile talent agent Max Markson, the deal also includes a series of follow-up stories exclusive to Nine-owned publications.</p> <p dir="ltr">According to <a rel="noopener" href="https://www.theaustralian.com.au/subscribe/news/1/?sourceCode=TAWEB_WRE170_a&amp;dest=https%3A%2F%2Fwww.theaustralian.com.au%2Fnation%2Foutrage-as-nine-network-pays-more-than-2-million-for-cleo-smith-interview%2Fnews-story%2Fcfdf1580eb12f20e1a4f12a391ef6499&amp;memtype=anonymous&amp;mode=premium&amp;v21=dynamic-cold-test-score&amp;V21spcbehaviour=append" target="_blank">The Australian</a>, there is also speculation of a six-part special for streaming service Stan, that young Cleo herself may feature in the interviews.</p> <p dir="ltr">Nine beat out the Seven Network’s <em>Spotlight</em> program for the lucrative deal, despite Seven West Media chairman Kerry Stokes' “personal interest” in the story.</p> <p dir="ltr">“Nine was scared at the end of the year after they lost their No 1 position – this seems a desperate attempt to regain the mantle … and it won't work,” an inside source told the publication.</p> <p dir="ltr">Despite the high profile nature of the case, some staff at the network are reportedly horrified by the deal.</p> <p dir="ltr">“What are the possible consequences of asking this young girl to talk about what happened to her, when we don't know what she went through?” one journalist asked.</p> <p dir="ltr">News of the deal comes after a source told <a rel="noopener" href="https://www.dailymail.co.uk/news/article-10425069/Cleo-Smith-Parents-sign-Channel-Nine-deal-alleged-abduction-headlines-world.html" target="_blank">Daily Mail Australia</a> that Cleo’s parents were considering changing the four-year-old’s name in order to stop unwanted attention.</p> <p dir="ltr">The couple has reportedly been seeking advice from other parents whose children have been through similar ordeals that thrust them into the limelight.</p> <p dir="ltr">“They're worried about the repercussions of the media and so forth down the track,” a source told Daily Mail Australia.</p> <p dir="ltr">Cleo’s parents are reportedly concerned about the impact the media attention could have on her livelihood as she grows up.</p> <p dir="ltr">“They're worried about people making the connection later on down the line,” the source said.</p> <p dir="ltr"><em>Image credits: Getty Images</em></p>

Family & Pets

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Artist turns in blank canvases after hefty payday

<p><span style="font-weight: 400;">A daring art heist has been carried out in the most audacious way in a Danish museum. </span></p> <p><span style="font-weight: 400;">The </span><a href="https://kunsten.dk/en"><span style="font-weight: 400;">Kunsten Museum of Modern Art</span></a><span style="font-weight: 400;"> in the Danish city of Aalborg offered artist Jens Haaning to recreate two of his most famous works titled </span><em><span style="font-weight: 400;">An Average Danish Annual Income</span></em><span style="font-weight: 400;"> and </span><span style="font-weight: 400;"><em>An Average Austrian Annual Income</em>.</span></p> <p><span style="font-weight: 400;">The politically charged artworks used actual banknotes to reflect the average working wage for citizens of Denmark and Austria. </span></p> <p><span style="font-weight: 400;">The remakes were set to appear in a current exhibition titled Work it Out, which delves into the role of artists in the labour market. </span></p> <p><span style="font-weight: 400;">The institution lent Jens Haaning $117,000AUD to complete the recreations, and offered an extra $9,700 if needed. </span></p> <p><span style="font-weight: 400;">As per the contract the artist signed, the money would have to be returned to the museum at the end of the exhibition on January 16th 2022. </span></p> <p><span style="font-weight: 400;">Upon receiving a suspicious email from the artist, the museum curators suspected something was not quite right. </span></p> <p><span style="font-weight: 400;">The email told the museum that the title of the artwork had been changed, and was now called </span><em><span style="font-weight: 400;">Take the Money and Run</span></em><span style="font-weight: 400;">.  </span></p> <p><span style="font-weight: 400;"><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7844667/jens-haaning.jpg" alt="" data-udi="umb://media/1d04863eb9c145c0a60a0ab854c8d506" /></span></p> <p><em><span style="font-weight: 400;">Image credit: Getty Images</span></em></p> <p><span style="font-weight: 400;">As the museum staff opened the box containing Mr Haaning’s ‘artworks’, they discovered two blank canvases while the cash had completely disappeared. </span><span style="font-weight: 400;"></span></p> <p><span style="font-weight: 400;">“The money had not been put into the work,” museum director Lasse Andersson told </span><a href="https://www.cbsnews.com/news/jens-haaning-take-the-money-and-run-blank-canvases-kunsten-museum-modern-art-denmark/?intcid=CNM-00-10abd1h"><span style="font-weight: 400;">CBS</span></a><span style="font-weight: 400;">.</span><span style="font-weight: 400;"></span></p> <p><span style="font-weight: 400;">Despite the controversy, Mr Haaning defended his bold decision. </span></p> <p><span style="font-weight: 400;">“The work is that I have taken their money,” the artist </span><a href="https://www.dr.dk/lyd/p1/p1-morgen/p1-morgen-2021-09-25"><span style="font-weight: 400;">told Danish radio program P1 Morgen</span></a><span style="font-weight: 400;"> of the performance piece and mega-minimalist work.</span><span style="font-weight: 400;"></span></p> <p><span style="font-weight: 400;">“It’s not theft. It is a breach of contract, and breach of contract is part of the work.”</span></p> <p><span style="font-weight: 400;">Jens Haaning said he thought of the idea as a protest against the small sum he was offered to be included in the exclusive exhibition, as well as making a bold political statement on the status of artists in society. </span><span style="font-weight: 400;"></span></p> <p><span style="font-weight: 400;">“The artwork is essentially about the working conditions of artists. It is a statement saying that we also have the responsibility of questioning the structures that we are part of.” </span><span style="font-weight: 400;"></span></p> <p><span style="font-weight: 400;">“And if these structures are completely unreasonable, we must break with them.”</span><span style="font-weight: 400;"></span></p> <p><em><span style="font-weight: 400;">Image credits: Getty Images</span></em><span style="font-weight: 400;"></span></p>

Art

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Koby Abberton reveals his massive SAS Australia payday

<p dir="ltr">Koby Abberton has revealed how much he was paid by Channel 7 to appear on season two of SAS Australia, bluntly telling the hosts of Moonman in the Morning that he was paid $100,000.</p> <p dir="ltr">That makes Abberton one of the<span> </span><a rel="noopener" href="https://oversixty.com.au/finance/money-banking/sam-burgess-huge-sas-australia-salary-revealed" target="_blank">highest-paid stars on the show,</a><span> </span>only earning less than Sam Burgess, and being paid the same amount as tennis star Mark Philippoussis.</p> <p dir="ltr">Model Erin Holland, 32, is earning between $60,000 and $80,000 while footballer Heath Shaw, 35, actress Isabelle Cornish, 27, and athlete John Steffensen, 39, tennis player Alicia Molik, 38, are on around the same amount.</p> <p dir="ltr">In the next rung, singer Pete Murrary, 51, athlete Jana Pittmann, 38, actor Dan Ewing, 36, runner Jessica Peris, 31, ironman Jett Kenny, 27, volleyball player Kerri Pottharst, 56, and socialite Brynne Edelsten are estimated to be being paid between $50,000 and $70,000.</p> <p dir="ltr">At the very bottom of the ladder is former Australian Labor Party member Emma Husar, 41, who is earning just $25,000. Meanwhile Manu Feildel, 47, will go without a pay day because his appearance is likely part of his contract at Channel Seven.</p> <blockquote class="twitter-tweet"> <p dir="ltr">Recruit #2 Koby Abberton well and truly left his mark on the course and departs knowing he made the right decision for himself. 💪 <a href="https://twitter.com/hashtag/SASAustralia?src=hash&amp;ref_src=twsrc%5Etfw">#SASAustralia</a> <a href="https://t.co/VGklwou1QP">pic.twitter.com/VGklwou1QP</a></p> — SAS Australia on 7 (@sasaustralia) <a href="https://twitter.com/sasaustralia/status/1443380081590689795?ref_src=twsrc%5Etfw">September 30, 2021</a></blockquote> <p dir="ltr">Abberton rose to fame as a member of Maroubra’s ‘Bra Boys’, culminating in the release of the 2007 documentary<span> </span><em>Bra Boys</em>, produced by Russell Crowe and directed by Koby’s brother, Sunny, and Macario De Souza.</p> <p dir="ltr">He also shared with the Moonman in the Morning team the reason for his repeated questions about how much tennis star Philippoussis made, saying, "When I grew up, the only way out of my area was to be a sportsman. You were either a surfer, a football player or a fighter, and that's what we banked on.</p> <p dir="ltr">"These days these kids are constantly on Instagram, or Facebook or TikTok or all this garbage. They all seem to want to be Instagram stars, and honestly it's just garbage."</p> <p dir="ltr"><em>Image: SAS Australia</em></p>

TV

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95-year-old Auschwitz survivor wakes up to $20 million Bondi payday

<p>Auschwitz survivor Freda Feuerstein’s block of flats overlooking beautiful Bondi Beach has sold for an eye-watering $20.65 million on Wednesday night.</p> <p>Feuerstein had originally purchased the £11,000 block in 1958.</p> <p>Bondi locals told the Wentworth Courier that the man who had won the keys to the beach-view space was the founder of F45 gyms, Rob Deutsch.</p> <p>It is speculated that the site may be redeveloped into apartments above and a gym in to the retail space below.</p> <p>The block of four rundown flats had most recently been housing Brazilian backpackers and is just four doors down from where casino mogul James Packer sold his bachelor pad for $29 million in 2018.</p> <p>Mrs Feuerstein, 95, currently lives in a retirement home in Israel, and told the Wentworth Courier that she had knocked back several offers from Packer to buy the rundown block.</p> <p>Speaking from Israel, Mrs Feuerstein’s son, Yehuda Engelman, said that his mother slept soundly while her beachfront home was fought over for tens of millions of dollars.</p> <p>“This is what we were hoping for!” he said.</p> <p>Engelman added that he wasn’t sad that the property would no longer be owned by the family after 62 years.</p> <p>“The sadness was when I left Australia … it was time for someone else to have a go,” he said.</p> <p>“It was a crime to have a building in Campbell Parade just sitting there like that.”</p> <p>Yehuda explained that his mother Freda and father, Mark Engelman, had both miraculously survived internment in Nazi concentration camps during World War II.</p> <p>After their misery in Europe, the pair found hope in Sydney and worked with the little they had to make a comfortable living on the shores of the eastern suburbs.</p> <p> </p>

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