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Family of eight forced to live in tent amid rental crisis

<p>A family of eight have been forced to live in a tent for over six months as they wait to find suitable accommodation after their last rental lease ended. </p> <p>Cameron and Tameka Fletcher and their six children, aged between one and 10, have been living in a tent and have had to move from campsite to campsite since September. </p> <p>The couple claimed that the government can't support them because they have "too many children", and are waiting for public housing, but they might not meet the criteria to be eligible for it. </p> <p>They were reportedly staying in a makeshift tent city in a suburban park north of Brisbane.</p> <p>"We've always had a house, we've never done this," Cameron Fletcher told <em>Nine News</em>. </p> <p>"Everyone here is going through the same thing. But it's the only way to get help."</p> <p>“We can only do what’s best for our kids, to keep a roof over their heads,” his wife added. </p> <p>One of the couple's daughters is due to start school next year, and they have been struggling to enrol her as the family doesn't have a permanent address. </p> <p>The family said they are also struggling with day-to-day activities like finding breakfast, washing their clothes and getting the kids ready for school, and are using solar camping showers purchased from Kmart to clean themselves.</p> <p>According to <em>Nine News</em>, the family would be happy with a three-bedroom home but were told by state housing officials that they can only be offered a five-bedroom home to avoid overcrowding, but there are currently none available. </p> <p>In a statement issued to <em>Yahoo News</em>, a spokesperson for Department of Housing said it “has been working with the family since September last year, including providing accommodation which they chose to leave”.</p> <p>"As we’ve been assisting them to find longer-term options, they have declined further offers of accommodation," the spokesperson said.</p> <p>"With regards to social housing, there are eligibility factors that need to be met, including income thresholds. However, the department continues to work with the family to find a private rental and give any other support they might need."</p> <p>This comes as new <a href="https://www.news.com.au/finance/real-estate/rent-shock-what-youll-be-paying-in-every-australian-suburb-in-2024/news-story/10b67da9ebe170a2e2d37caa7e66bf40" target="_blank" rel="noopener">PropTrack</a> data, released in March, revealed that rent has increased by 17 per cent over the past 12 months, across all the capital cities in Australia. </p> <p>More than half of Queenslanders who have applied for social housing are reportedly homeless and have had to wait for over two years amid a lack of supply and increased demands.</p> <p>Earlier this year, the Queensland government announced it was aiming to build another 53,500 social homes by 2046, with a $3.1 billion funding boost to deliver one million homes. </p> <p><em>Images: Nine News</em></p>

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"Out-of-touch" Project stars slammed over clash with renter advocate

<p>Social media users have slammed <em>The Project </em>hosts,  following their recent interview with a renter advocate who encourages Aussies struggling with the housing crisis to squat in empty homes. </p> <p>Jordan van den Berg,  founder of the S*** Rentals website shared a video over the weekend outside a rundown house in Chadstone, Melbourne, saying: “Are you sick of rich people hoarding empty houses during a housing crisis? I know I am." </p> <p>“Here’s how you can do something about it.” </p> <p>He then encouraged people to submit information on empty homes in their suburbs via a form on his website, which he plans to promote on his socials so those struggling to find a home could squat in them. </p> <p>“Fun fact – squatting in Australia is not necessarily illegal, which is the best type of legal, especially if the front door doesn’t actually lock," he said. </p> <p>On Monday, he appeared on The Project to talk about his controversial plans, and was grilled by the show's hosts. </p> <p>“I know we’re in a pretty serious housing crisis, but do you really think encouraging people to squat in private properties is the way to fix it?" asked co-host Sarah Harris. </p> <p> “Let me answer your question by asking you a question. Do you think it’s right we have thousands of vacant, abandoned homes while we have people living on the street?” van de Berg replied. </p> <p>Harris said she didn’t and asked whether the solving the housing crisis should be focused on policy instead.</p> <p>Later in the interview, panellist Steve Price casted his doubts on whether there actually were a lot of vacant homes, but van de Berg replied that he'd received over 300 submissions from Aussies about empty homes in their suburbs. </p> <p>van de Berg also said that desperate people are even squatting in abandoned properties, and added: “If someone needs a house, they can reach out to me and I’ll send them [details about] an empty home."</p> <p>Harris was shocked that people would “basically camp out in abandoned houses with no power" which van den Berg argued that “camping out inside” was likely better than sleeping on the streets or in a park.</p> <p>Co-host Waleed Aly then asked whether van de Berg  was encouraging people to break the law, but he pointed out that squatting – done properly – isn’t technically illegal.</p> <p>The interview has been slammed on social media, with Writer and comedian John Delmenico posting on X: “Watching the rich out-of-touch panel on the Project realise in real time that not everyone is rich is so bizarre.</p> <p>"Especially the part where Pingers has to explain that being in a house is safer than sleeping on the street. How do they host the news with no connection to reality?”</p> <p>Others agreed mocking the panellists’ shock that “shelter without electricity is better than no shelter with no electricity”.</p> <p>“She was laughing at the fact that ppl would camp out in abandoned houses with no power/water, until he put her in her place by reminding her they’re better off camping under shelter than outside. Mic drop moment," one wrote. </p> <p>“Homelessness exists … it’s quite a big problem actually," another added. </p> <p>However, a few others agreed with the <em>Project</em> hosts. </p> <p>“Encouraging people to squat, who does he think he is?" one wrote. </p> <p>“He thinks he’s doing a good thing, but he’s given absolutely no critical thought to the implications of encouraging people to take over ‘empty homes’," another added. </p> <p>Leo Patterson Ross, chief executive of the Tenants Union of NSW, said that van den Berg was “drawing attention to issues that government should be acting on”.</p> <p>“In the middle of a housing crisis with growing levels of homelessness, we should be looking to ensure homes are not left vacant,” Patterson Ross said.</p> <p>“If a person leaves a property unattended and empty for 12 years, then I think many of us would agree it seems fair that the community can reclaim usage to provide a home, whether that be individuals or government.”</p> <p><em>Image: The Project</em></p>

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On a climate rollercoaster: how Australia’s environment fared in the world’s hottest year

<p><a href="https://theconversation.com/profiles/albert-van-dijk-25318">Albert Van Dijk</a>, <em><a href="https://theconversation.com/institutions/australian-national-university-877">Australian National University</a></em>; <a href="https://theconversation.com/profiles/shoshana-rapley-711675">Shoshana Rapley</a>, <em><a href="https://theconversation.com/institutions/australian-national-university-877">Australian National University</a></em>, and <a href="https://theconversation.com/profiles/tayla-lawrie-1517759">Tayla Lawrie</a>, <em><a href="https://theconversation.com/institutions/the-university-of-queensland-805">The University of Queensland</a></em></p> <p>Global climate <a href="https://wmo.int/media/news/wmo-confirms-2023-smashes-global-temperature-record">records were shattered</a> in 2023, from air and sea temperatures to sea-level rise and sea-ice extent. Scores of countries recorded their hottest year and numerous weather disasters occurred as climate change reared its head.</p> <p>How did Australia’s environment fare against this onslaught? In short, 2023 was a year of opposites.</p> <p>For the past nine years, we have trawled through huge volumes of data collected by satellites, measurement stations and surveys by individuals and agencies. We include data on global change, oceans, people, weather, water, soils, vegetation, fire and biodiversity.</p> <p>Each year, we analyse those data, summarising them in an <a href="https://bit.ly/ausenv2023">annual report</a> that includes an overall Environmental Condition Score and <a href="https://ausenv.online/aer/scorecards/">regional scorecards</a>. These scores provide a relative measure of conditions for agriculture and ecosystems. Scores declined across the country, except in the Northern Territory, but were still relatively good.</p> <p>However, the updated <a href="https://tsx.org.au/">Threatened Species Index</a> shows the abundance of listed bird, mammal and plant species has continued to decline at a rate of about 3% a year since the turn of the century.</p> <figure class="align-center zoomable"><a href="https://images.theconversation.com/files/581821/original/file-20240314-22-p8uskx.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/581821/original/file-20240314-22-p8uskx.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/581821/original/file-20240314-22-p8uskx.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=357&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/581821/original/file-20240314-22-p8uskx.png?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=357&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/581821/original/file-20240314-22-p8uskx.png?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=357&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/581821/original/file-20240314-22-p8uskx.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=448&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/581821/original/file-20240314-22-p8uskx.png?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=448&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/581821/original/file-20240314-22-p8uskx.png?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=448&amp;fit=crop&amp;dpr=3 2262w" alt="" /></a><figcaption><span class="caption">Environmental condition indicators for 2023, showing the changes from 2000–2022 average values. Such differences can be part of a long-term trend or within normal variability.</span> <span class="attribution"><a class="source" href="https://www.wenfo.org/aer/wp-content/uploads/2024/03/2023_Australias_Environment_Report-1.pdf">Australia's Environment 2023 Report.</a></span></figcaption></figure> <h2>Riding a climate rollercoaster in 2023</h2> <p>Worldwide, <a href="https://theconversation.com/how-2023s-record-heat-worsened-droughts-floods-and-bushfires-around-the-world-220836">77 countries broke temperature records</a>. Australia was not one of them. Our annual average temperature was 0.53°C below the horror year 2019. Temperatures in the seas around us were below the records of 2022.</p> <p>Even so, 2023 was among Australia’s eight warmest years in both cases. All eight came after 2005.</p> <p>However, those numbers are averaged over the year. Dig a bit deeper and it becomes clear 2023 was a climate rollercoaster.</p> <p>The year started as wet as the previous year ended, but dry and unseasonably warm weather set in from May to October. Soils and wetlands across much of the country started drying rapidly. In the eastern states, the fire season started as early as August.</p> <p>Nonetheless, there was generally still enough water to support good vegetation growth throughout the unusually warm and sunny winter months.</p> <p>Fears of a severe fire season were not realised as El Niño’s influence waned in November and rainfall returned, in part due to the warm oceans. Combined with relatively high temperatures, it made for a hot and humid summer. A tropical cyclone and several severe storms caused flooding in Queensland and Victoria in December.</p> <p>As always, there were regional differences. Northern Australia experienced the best rainfall and growth conditions in several years. This contributed to more grass fires than average during the dry season. On the other hand, the rain did not return to Western Australia and Tasmania, which ended the year dry.</p> <h2>So how did scores change?</h2> <p>Every year we calculate an Environmental Condition Score that combines weather, water and vegetation data.</p> <p>The national score was 7.5 (out of 10). That was 1.2 points lower than for 2022, but still the second-highest score since 2011.</p> <p>Scores declined across the country except for the Northern Territory, which chalked up a score of 8.8 thanks to a strong monsoon season. With signs of drought developing in parts of Western Australia, it had the lowest score of 5.5.</p> <p>The Environmental Condition Score reflects environmental conditions, but does not measure the long-term health of natural ecosystems and biodiversity.</p> <p>Firstly, it relates only to the land and not our oceans. Marine heatwaves damaged ecosystems along the eastern coast. Surveys in the first half of 2023 suggested the recovery of the Great Barrier Reef plateaued.</p> <p>However, a cyclone and rising ocean temperatures occurred later in the year. In early 2024, <a href="https://theconversation.com/the-great-barrier-reefs-latest-bout-of-bleaching-is-the-fifth-in-eight-summers-the-corals-now-have-almost-no-reprieve-225348">another mass coral bleaching event</a> developed.</p> <p>Secondly, the score does not capture important processes affecting our many threatened species. Among the greatest dangers are invasive pests and diseases, habitat destruction and damage from severe weather events such as heatwaves and megafires.</p> <h2>Threatened species’ declines continued</h2> <p>The <a href="https://tsx.org.au/">Threatened Species Index</a> captures data from long-term threatened species monitoring. The index is updated annually with a three-year lag, largely due to delays in data processing and sharing. This means the 2023 index includes data up to 2020.</p> <p>The index showed an unrelenting decline of about 3% in the abundance of Australia’s threatened bird, mammal and plant species each year. This amounts to an overall decline of 61% from 2000 to 2020.</p> <figure class="align-center zoomable"><a href="https://images.theconversation.com/files/581823/original/file-20240314-16-yi6tr0.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/581823/original/file-20240314-16-yi6tr0.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/581823/original/file-20240314-16-yi6tr0.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=350&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/581823/original/file-20240314-16-yi6tr0.png?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=350&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/581823/original/file-20240314-16-yi6tr0.png?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=350&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/581823/original/file-20240314-16-yi6tr0.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=440&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/581823/original/file-20240314-16-yi6tr0.png?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=440&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/581823/original/file-20240314-16-yi6tr0.png?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=440&amp;fit=crop&amp;dpr=3 2262w" alt="Line graph of Threatened Species Index" /></a><figcaption><span class="caption">Threatened Species Index showing the abundance of different categories of species listed under the EPBC Act relative to 2000.</span> <span class="attribution"><a class="source" href="https://www.wenfo.org/aer/wp-content/uploads/2024/03/2023_Australias_Environment_Report-1.pdf">Australia's Environment 2023 Report</a></span></figcaption></figure> <p>The index for birds in 2023 revealed declines were most severe for terrestrial birds (62%), followed by migratory shorebirds (47%) and marine birds (24%).</p> <p>A record 130 species were added to Australia’s <a href="https://www.dcceew.gov.au/environment/biodiversity/threatened/nominations">threatened species lists</a> in 2023. That’s many more than the annual average of 29 species over previous years. The 2019–2020 <a href="https://theconversation.com/200-experts-dissected-the-black-summer-bushfires-in-unprecedented-detail-here-are-6-lessons-to-heed-198989">Black Summer bushfires</a> had direct impacts on half the newly listed species.</p> <h2>Population boom adds to pressures</h2> <p>Australia’s population passed <a href="https://www.abs.gov.au/statistics/people/population/population-clock-pyramid">27 million</a> in 2023, a stunning increase of 8 million, or 41%, since 2000. Those extra people all needed living space, food, electricity and transport.</p> <p>Australia’s greenhouse gas emissions <a href="https://www.dcceew.gov.au/climate-change/publications/australias-emissions-projections-2023">have risen by 18% since 2000</a>. Despite small declines in the previous four years, emissions increased again in 2023, mostly due to air travel rebounding after COVID-19.</p> <p>Our emissions per person are the <a href="https://edgar.jrc.ec.europa.eu/report_2023">tenth-highest in the world</a> and more than three times those of the average global citizen. The main reasons are our coal-fired power stations, <a href="https://theconversation.com/australian-passenger-vehicle-emission-rates-are-50-higher-than-the-rest-of-the-world-and-its-getting-worse-222398">inefficient road vehicles</a> and <a href="https://www.theguardian.com/australia-news/2024/mar/11/how-many-cattle-are-there-in-australia-we-may-be-out-by-10-million">large cattle herd</a>.</p> <p>Nonetheless, there are reasons to be optimistic. Many other countries have dramatically <a href="https://ourworldindata.org/co2-gdp-decoupling">reduced emissions without compromising economic growth</a> or quality of life. All we have to do is to finally follow their lead.</p> <p>Our governments have an obvious role to play, but we can do a lot as individuals. We can even save money, by switching to renewable energy and electric vehicles and by eating less beef.</p> <p>Changing our behaviour will not stop climate change in its tracks, but will slow it down over the next decades and ultimately reverse it. We cannot reverse or even stop all damage to our environment, but we can certainly do much better.<!-- 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/225268/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><a href="https://theconversation.com/profiles/albert-van-dijk-25318">Albert Van Dijk</a>, Professor, Water and Landscape Dynamics, Fenner School of Environment &amp; Society, <em><a href="https://theconversation.com/institutions/australian-national-university-877">Australian National University</a></em>; <a href="https://theconversation.com/profiles/shoshana-rapley-711675">Shoshana Rapley</a>, Research Assistant, Fenner School of Environment &amp; Society, <em><a href="https://theconversation.com/institutions/australian-national-university-877">Australian National University</a></em>, and <a href="https://theconversation.com/profiles/tayla-lawrie-1517759">Tayla Lawrie</a>, Project Manager, Threatened Species Index, <em><a href="https://theconversation.com/institutions/the-university-of-queensland-805">The University of Queensland</a></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/on-a-climate-rollercoaster-how-australias-environment-fared-in-the-worlds-hottest-year-225268">original article</a>.</em></p> <p><em>Image: Dean Ingwerson | NSW.gov.au</em></p>

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Millions of Aussies set for power bill relief

<p>Millions of Aussies are set for some financial relief, with electricity costs set to drop by up to 7 per cent in the coming months. </p> <p>The Australian Energy Regulator (AER) and Victoria's Essential Services Commission (ESC) both released their draft default market offers - the maximum energy retailers are allowed to charge customers - for the 2024-25 financial year. </p> <p>Under the AER draft, residents in Sydney, Newcastle and the Hunter on the default offer will pay between 3 and 3.4 per cent less for electricity starting from July 1. </p> <p>The biggest drop is set for Victoria, with the ESC proposing a 6.4 per cent decrease. </p> <p>Those in Western Sydney, the Illawarra, and South Coast, will see their electricity bills decrease by 1.9 to 7.1 per cent. </p> <p>South Australians will receive a drop between 0.5 and 2.5 per cent. </p> <p>A number of small business customers will also benefit from lower power bill costs with 9.7 per cent for Sydney, Newcastle and the Hunter; 4.4 per cent for Western Sydney and the South Coast; 0.3 per cent for South-East Queensland; 8.2 per cent for South Australia; and 7 per cent for Victoria.</p> <p>Energy Minister Chris Bowen welcomed the news of lower power bill costs, but acknowledged that it will continue to play a part in the cost of living challenges faced by many Australians. </p> <p>"This is encouraging news," he said.</p> <p>"Encouraging for those small businesses and families who will receive lower energy bills as a result.</p> <p>"But nobody should suggest that there aren't real cost of living pressures around the world and in Australia, and energy prices are of course part of that and will continue to be."</p> <p>Not everyone will see a drop, with customers in the rest of regional NSW to get a small increase of 0.9 per cent, while the default offer for South East Queensland will increase by up to 2.7 per cent.</p> <p>While not all households are on the default offer, Bowen said that the AER's decision will also affect those not on the offer. </p> <p>"This either impacts directly or indirectly your energy bill," he said.</p> <p>"Directly for those on the default market offer. For those who aren't on the direct market offer, indirectly - the energy companies have to benchmark themselves against this, tell their consumers how they compare to this, and it provides very real pressure on them to match it.</p> <p>"If they don't, consumers will know about it and will make choices accordingly.</p> <p>"It's partly about those on the default market offer, but it actually impacts on all our bills indirectly."</p> <p>AER chair Clare Savage said that the cost of living crisis was the main contributor for their draft decision. </p> <p>"We know that economic conditions have put pressure on many Australians and the increases in electricity prices over the last two years has made energy less affordable for many households," she said. </p> <p>"In light of this, the AER has, in this decision, placed increased weight on protecting consumers." </p> <p>The draft decision is not final, with both the AER and ESC to receive consultation and feedback from stakeholders before confirming their default market offers in May.</p> <p><em>Image: Getty</em></p>

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What is negative gearing and what is it doing to housing affordability?

<p><em><a href="https://theconversation.com/profiles/michelle-cull-340911">Michelle Cull</a>, <a href="https://theconversation.com/institutions/western-sydney-university-1092">Western Sydney University</a></em></p> <p>Australia’s housing crisis is putting the <a href="https://www.mortgagechoice.com.au/guides/what-is-the-great-australian-dream/">Australian dream</a> to own one’s home out of reach for many.</p> <p>But it’s not just <a href="https://www.aihw.gov.au/reports/australias-welfare/home-ownership-and-housing-tenure">home ownership</a> that has been affected. Rental affordability has also become a serious issue. This has reignited the debate about negative gearing; whether or not it is fair and whether it holds the key to fixing the housing crisis.</p> <h2>What is negative gearing?</h2> <p><a href="https://treasury.gov.au/review/tax-white-paper/negative-gearing">Negative gearing</a> refers to using borrowed money to invest in an asset so it results in a loss which can be claimed as a tax deduction against other income. For example, a property investment is negatively geared if the net rental income received is lower than the mortgage interest. The loss is then offset against other income, such as wages and salaries, which reduces the amount of income tax payable.</p> <p>Negative gearing is commonly used for property investments but also applies to other investments (such as shares). Investments can also be positively geared when net income from the investment is more than the interest on borrowings.</p> <p>The attractiveness of negative gearing in Australia is mainly due to its ability to reduce the amount of income tax. For this reason, it can be more beneficial to individuals who are on higher marginal tax rates. However, capital gains tax must be paid on any gain when the asset is sold.</p> <h2>How does negative gearing work?</h2> <p>Let’s look at a simple example of negative gearing. Say an investment property was rented to tenants at A$500 a week ($26,000 a year), and associated expenses (such as agent fees, rates, mortgage interest, maintenance) were $40,000 for the year. This leaves a shortfall of $14,000.</p> <p>The property owner can deduct the $14,000 from their taxable income to reduce their liability. For example if they received $100,000 from wages, they would pay tax on only $86,000 (saving $4,550 in income tax). Individuals on higher incomes and therefore higher marginal tax rates would receive larger tax deductions (for example, someone earning over $180,001 would pay $6,300 less tax).</p> <p>While negative gearing an investment property can reduce tax while it is being rented, it can also result in a large <a href="https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/what-is-capital-gains-tax">capital gains tax</a> bill once the property is sold (even though capital gains tax is halved for assets held for more than 12 months).</p> <p>For example, if the cost base for a property purchased ten years ago was $400,000 and it sells for $900,000 today, capital gains tax would be calculated on half of the $500,000 difference. At a marginal rate of 45%, the tax bill would be $112,500.</p> <h2>How widespread is it in Australia?</h2> <p>According to the <a href="https://data.gov.au/data/dataset/taxation-statistics-2020-21">Australian Taxation Office</a>, about 2.25 million individual tax payers (21% of all individual tax payers) claimed deductions against rental income for a total 3.25 million properties in 2020-21 financial year.</p> <p>Of these, 47% negatively geared their properties, claiming a net rental loss. This is equivalent to just less than 10% of all taxpayers. Investors with fewer properties were more likely to be using negative gearing with over 71% of property investors having only one investment property.</p> <hr /> <p><iframe id="Wv9lV" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/Wv9lV/" width="100%" height="400px" frameborder="0"></iframe></p> <hr /> <p>The largest group of property investors (524,220) had one investment property and a total annual taxable income between $50,001 and $100,000. The chart above shows the proportion of property investors by age group.</p> <p>From 2016-2017 to 2020-2021, the total net rental income on property investments in Australia went from a loss of $3.3 billion to a gain of $3.1 billion (as you can see from the chart below).</p> <p>For the same period, the proportion of investors negatively gearing their properties dropped from 58% to 47%, as lower interest rates reduced losses.</p> <hr /> <p><iframe id="fXnoe" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/fXnoe/" width="100%" height="400px" frameborder="0"></iframe></p> <hr /> <p>Negative gearing is also becoming less attractive with the government’s recent changes to <a href="https://treasury.gov.au/tax-cuts">tax brackets and marginal tax rates</a>. According to a study conducted by <a href="https://www.pexa.com.au/staticly-media/2023/03/Whitepaper-2-Private-renting-in-Australia-a-broken-system_compressed-sm-1679450145.pdf">LongView and PEXA</a>, 60% of property investors would be financially better off if they instead put their money into a superannuation fund.</p> <h2>When was it introduced?</h2> <p>Negative gearing has been allowed under tax laws since 1936. It was thought it would encourage investment in housing and increase supply.</p> <p>However, debate around its impact on housing affordability led the government to partially abolish it in 1985 by not allowing rental property losses to reduce tax on other sources of income.</p> <p>There was a shortage of housing and rents rose during the two years it was abolished. As a result, in 1987, negative gearing was reinstated and capital gains tax legislation was introduced.</p> <h2>Is it used in other countries?</h2> <p>Canada, Germany, Japan and Norway use negative gearing. In Finland, France and the United States, rental losses can offset future rental income only. In the US, <a href="https://www.irs.gov/publications/p936#en_US_2023_publink1000229891">home owners are entitled</a> to claim a tax deduction for mortgage interest on their own home.</p> <p>The use and benefit of negative gearing depends upon all aspects of a country’s tax system. So although it may be attractive in countries with high marginal tax rates, other taxes such as capital gains tax, land tax and stamp duties may reduce its appeal.</p> <h2>Negative gearing’s impact on housing affordability</h2> <p>Many factors affect the cost of housing, including interest rates, inflation, employment, the overall taxation system and population growth, making housing affordability a complex issue.</p> <p><a href="https://www.smh.com.au/politics/federal/nz-kills-tax-loophole-on-property-to-slow-soaring-house-prices-20210323-p57d9s.html">In New Zealand, negative gearing is being phased out</a> due to its impact on housing prices.</p> <p>However, unlike Australia, New Zealand does not have capital gains tax, making negative gearing more popular and more likely to impact housing prices. In addition to phasing out negative gearing, the New Zealand government <a href="https://www.hud.govt.nz/our-work/public-housing-plan/">increased the supply of public housing</a> and <a href="https://www.abc.net.au/news/2023-09-25/nz-auckland-house-supply-experiment-results-in-dramatic-change/102846126">relaxed zoning regulations</a> to provide more affordable housing.</p> <p>In Australia, however, there are concerns abolishing negative gearing will cause rents to rise, as they did in the 1980s. More innovative approaches to housing affordability are needed to ensure ample supply of property for first home buyers and tenants.</p> <p>Some consideration could be given to allowing first home buyers to claim a tax deduction for mortgage interest, increasing capital gains tax, limiting the number or type of investment properties held, capping rent increases, or more infrastructure investment from the government for first home buyers and social housing.</p> <p>One or more of these measures would be a step in the right direction. Negative gearing on its own is not the answer to housing affordability. The whole system needs an overhaul, with a combination of measures needed to adequately address affordability, for now and for future generations.</p> <p>Taking no action will put home ownership out of reach for even more Australians.<!-- 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/223823/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><a href="https://theconversation.com/profiles/michelle-cull-340911"><em>Michelle Cull</em></a><em>, Associate professor, <a href="https://theconversation.com/institutions/western-sydney-university-1092">Western Sydney University</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/what-is-negative-gearing-and-what-is-it-doing-to-housing-affordability-223823">original article</a>.</em></p>

Money & Banking

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Restaurant sparks outrage for "ridiculous" fee

<p>As inflation rates continue to rise it is not surprising that restaurants are charging extra fees, but one disgruntled customer was particularly shocked to see this "ridiculous" fee on their bill. </p> <p>The customer, who dined at restaurant and cocktail bar in Georgia, USA shamed the restaurant for charging their customers a $20 fee for “live band entertainment”.</p> <p>They shared their complaints on Reddit with a copy of their receipt and an unexpected fee at the bottom which read: “Two Live Band Entertainment Fee — $20”.</p> <p>Most people in the comments were equally annoyed and called the fee "ridiculous". </p> <p>“This is one of those leave money on the table, hand the waiter a tip and leave, sorry but if I didn’t order it, I’m not paying for it,” one wrote. </p> <p>“Great way to not have repeat customers,” said another.</p> <p>“This will backfire for them, just be honest and upfront," a third added. </p> <p>Other commenters were less sympathetic and did not understand why the customer was complaining when it looked like they could afford it. </p> <p>“When you’re paying seven dollars for a bottle of water, you really don’t get to complain about ‘unexpected costs.’ You knew what you signed up for," one commenter wrote. </p> <p>“Imagine a live band getting paid, huh,” another added. </p> <p>“They’re buying $7 bottles of water, they can probably afford it,” added a third.</p> <p><em>Image: Getty/ Reddit</em></p> <p> </p>

Money & Banking

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Climate change is forcing Australians to weigh up relocating. How do they make that difficult decision?

<p><em><a href="https://theconversation.com/profiles/justine-dandy-121273">Justine Dandy</a>, <a href="https://theconversation.com/institutions/edith-cowan-university-720">Edith Cowan University</a> and <a href="https://theconversation.com/profiles/zoe-leviston-823">Zoe Leviston</a>, <a href="https://theconversation.com/institutions/australian-national-university-877">Australian National University</a></em></p> <p><a href="https://www.climatecouncil.org.au/resources/climate-whiplash-wild-swings-between-weather-extremes/">Big environmental changes</a> mean ever more Australians will confront the tough choice of whether to move home or risk staying put.</p> <p>Communities in the tropical north are <a href="https://www.news.com.au/technology/environment/climate-change/three-aussie-towns-set-to-become-unliveable-due-to-extreme-heat/news-story/a96b36d1be5054d9fe3282ebf18c3431">losing residents</a> as these regions <a href="https://theconversation.com/study-finds-2-billion-people-will-struggle-to-survive-in-a-warming-world-and-these-parts-of-australia-are-most-vulnerable-205927">become hotter and more humid</a>. <a href="https://www.smh.com.au/national/weather-is-growing-more-extreme-the-pressure-is-on-the-bureau-of-meteorology-to-keep-up-20240111-p5ewms.html">Repeated floods</a> have communities along the east coast questioning their future. Others face <a href="https://theconversation.com/yes-climate-change-is-bringing-bushfires-more-often-but-some-ecosystems-in-australia-are-suffering-the-most-211683">rising bushfire risks</a> that force them to weigh up the <a href="http://www.ohscareer.com.au/archived-news/bushfire-risk-for-those-who-move">difficult decision</a> to move home.</p> <p>However, the decision-making process and relocation opportunities are not the same for everyone. Factors such as socio-economic disadvantage and how we are attached to a place influence decisions to move or stay, where people go and how they experience their new location.</p> <p>Our research, working with other researchers at Edith Cowan University’s <a href="https://www.ecu.edu.au/schools/science/research/strategic-centres/centre-for-people-place-and-planet/overview">Centre for People, Place &amp; Planet</a> and Curtin University, seeks to document when and why people stay or go, and what this means for places and communities. In particular, our research suggests <em>who</em> is more likely to go may leave those who remain even more vulnerable.</p> <figure><iframe src="https://www.youtube.com/embed/oCeYJPwUaTg?wmode=transparent&amp;start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption><span class="caption">Darwin is already losing residents because of rising heat and humidity.</span></figcaption></figure> <h2>We’ve been slow to adapt to increasing impacts</h2> <p>Climate change is global in scale and <a href="https://www.ipcc.ch/report/ar6/syr/">has compounding effects</a>. It is increasing the frequency and intensity of disasters and extreme weather events such as heatwaves, fires, storms and floods. It is also accelerating environmental changes such as soil erosion, salinisation of waterways, loss of biodiversity, and land and water degradation.</p> <p>Both sudden disruptions and gradual pervasive decline <a href="https://link.springer.com/article/10.1007/s10113-019-01463-1">have impacts</a> on the places where we live, work and play. So far, there has been <a href="https://thefifthestate.com.au/urbanism/climate-change-news/ahuri-rips-into-federal-government-inaction-on-helping-cities-adapt-to-climate-change/">little effective government action</a> to improve <a href="https://www.ahuri.edu.au/research/final-reports/411">climate change adaptation in Australia</a>.</p> <p>As we have seen in recent times in <a href="https://www.theguardian.com/australia-news/2022/apr/09/land-swaps-relocations-or-rebuilds-lismore-community-grapples-with-its-future">Lismore</a>, New South Wales, and <a href="https://www.abc.net.au/news/2024-01-17/mooroopna-shepparton-flood-residents-consider-staying-or-leaving/103324882">northern Victoria</a>, for example, living in some flood-prone locations will become <a href="https://www.abc.net.au/news/2021-03-23/flood-insurance-costing-30000-dollars-where-not-to-build/13268966">unaffordable due to insurance costs</a> or simply uninsurable.</p> <p>In other locations, different reasons will force residents to leave. It might be because environmental change threatens their livelihoods, or they can’t tolerate new conditions such as more long heatwaves or less reliable freshwater supplies. Others might not be able to endure the threat of another disaster.</p> <p>In sum, living in the place they called home will not be sustainable.</p> <figure><iframe src="https://www.youtube.com/embed/eqafq5UV5Iw?wmode=transparent&amp;start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption><span class="caption">Repeated floods are forcing people in towns like Rochester in Victoria to contemplate whether they can afford to stay.</span></figcaption></figure> <h2>What factors affect the decision to stay or go?</h2> <p>Not everyone can relocate to cooler or safer places. Systemic inequalities mean some people are more at risk from environmental change and have <a href="https://wires.onlinelibrary.wiley.com/doi/epdf/10.1002/wcc.565">less capacity</a> to respond than others. These vulnerable people include children (both <a href="https://www.abc.net.au/news/health/2024-01-25/climate-change-threatens-health-of-babies-in-utero/103362510">before and after birth</a>), women, older people, people on low incomes and/or with disability, Aboriginal and Torres Strait Islander peoples and other cultural and/or linguistic minorities.</p> <p>In addition, housing is more affordable in areas that are hotter or flood-prone. This makes it more likely to be owned or rented by people with fewer financial resources, compounding their disadvantage.</p> <p>For First Nations peoples and communities, connections to and responsibilities for places (Country) are intimately intertwined with identity. For them, the <a href="https://www.cell.com/one-earth/pdf/S2590-3322(20)30250-5.pdf">impacts of climate change</a>, colonisation and resettlement interact, further complicating the question of relocation.</p> <p><a href="https://link.springer.com/article/10.1007/s10113-019-01463-1">Place attachment</a> – the emotional bond between people and their environment – might suppress the urge to move. But environmental change might fundamentally alter the characteristics that make a place unique. What we once loved and enjoyed <a href="https://wires.onlinelibrary.wiley.com/doi/abs/10.1002/wcc.476">has then disappeared</a>.</p> <p>This sort of change <a href="https://www.sciencedirect.com/science/article/abs/pii/S0277953612003255">impacts human health</a> and results in feelings of <a href="https://www.cell.com/one-earth/pdf/S2590-3322(20)30250-5.pdf">loss and grief</a>. It can prompt people to decide to leave.</p> <h2>So who stays and who leaves?</h2> <p>In our <a href="https://www.sciencedirect.com/science/article/pii/S2666623523000028#sec0014">research</a>, we found that when residents imagined the loss of what they valued about Perth’s environment this significantly increased their intentions to move away and significantly decreased place attachment. They nominated bushland, beaches, fauna and flora, and the climate/weather as characteristics they valued and feared changing or losing as climate change progressed.</p> <p>One study participant wrote: "It would be hotter and much more unpleasant in summer. I would miss the trees, plants and birds. I would hate living in a concrete jungle without the green spaces we have here. I would miss being able to cycle or walk to the local lakes to connect to nature and feel peaceful."</p> <p>But social factors matter too. We found people who valued characteristics of Perth such as social relationships and lifestyle were more likely to stay as they tended to have less reduction in their place attachment.</p> <p>We also found place attachment was associated with people acting to protect that place, such as protesting environmentally destructive policies. Yet people who were more likely to take such actions were also <a href="https://link.springer.com/article/10.1007/s10113-019-01463-1">more likely to leave</a>.</p> <p>This could make the remaining community more vulnerable to further unwanted change. That’s because those who can afford to relocate are usually the ones with the resources – psychological, social, political and financial – to take action to protect their homes, neighbourhoods and cities.</p> <h2>Proper planning for adaptation is long overdue</h2> <p>Climate change impacts everyone. It causes significant economic and non-economic losses for both individuals and communities.</p> <p>Many locations are becoming unliveable. A changing climate and <a href="https://www.abc.net.au/news/2023-10-21/dark-roofs-raising-the-heat-in-australian-new-suburbs/102990304">inappropriately built or located housing</a> interact to create conditions where some people can or should no longer stay.</p> <p>Some will be prompted or forced to move, but not everyone has that capacity. Furthermore, relocation pressures have environmental, infrastructure and social <a href="https://www.ipcc.ch/report/ar6/syr/">consequences for the places to which they move</a>.</p> <p>The housing crisis in Australia adds to resource constraints and their impacts for individuals and communities. Relocating can also disrupt psychological, emotional, social and cultural connections that are crucial for people’s wellbeing.</p> <p>We need co-ordinated, well-governed, long-term planning for people to move in the face of environmental change to ensure equitable and positive transitions for individuals and communities.</p> <hr /> <p><em>The authors wish to acknowledge the following contributors to this research: Professor Pierre Horwitz and Dr Naomi Godden (Centre for People, Place &amp; Planet, ECU), Dr Deirdre Drake (School of Arts and Humanities, ECU) and Dr Francesca Perugia (School of Design and the Built Environment, Curtin University).</em><!-- 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/221971/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><a href="https://theconversation.com/profiles/justine-dandy-121273">J<em>ustine Dandy</em></a><em>, Associate Professor, Centre for People, Place &amp; Planet, and School of Arts and Humanities, <a href="https://theconversation.com/institutions/edith-cowan-university-720">Edith Cowan University</a> and <a href="https://theconversation.com/profiles/zoe-leviston-823">Zoe Leviston</a>, Research Fellow, College of Health and Medicine, <a href="https://theconversation.com/institutions/australian-national-university-877">Australian National University</a></em></p> <p><em>Image credits: </em><em>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/climate-change-is-forcing-australians-to-weigh-up-relocating-how-do-they-make-that-difficult-decision-221971">original article</a>.</em></p>

Domestic Travel

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How baby boomers are benefiting from Australia's "worst financial mistake"

<p>A financial expert has explained how baby boomers have remained largely unscathed by the ongoing housing crisis in Australia. </p> <p>ABC finance guru Alan Kohler described the crisis as Australia's "worst financial mistake", as Adelaide has now become the country's second least affordable city. </p> <p>The South Australian capital, which has long been known as one of the more affordable places in the country to live, has skyrocketed in price, as the median price for houses and units in Adelaide was $721,376 in January, which is 7.9 times higher than the state's average full-time salary of $91,026.</p> <p>"There are a couple of things that might surprise you: Adelaide became the second, least affordable Australian city last year," Mr Kohler explained.</p> <p>"Adelaide has just taken over from Hobart in second place."</p> <p>"What's going on: put simply, incomes in Adelaide, Hobart and Brisbane are not keeping up with house prices, which are being pushed up by fast-rising population and by first-home buyers."</p> <p>Mr Kohler, a baby boomer, noted that when he and his wife bought their first home in Melbourne for $40,000 in 1980, he was earning $11,500 as a journalist, meaning his home cost just 3.5 times his income before a mortgage deposit.</p> <p>"When my wife and I bought our first house in 1980, the average house price was 3.5 times average income," he said. "Now, it's 7.5 times and rising."</p> <p>"That didn't have to happen: it's Australia's worst, economic mistake."</p> <p>Mr Kohler said parents were increasingly propping up the mortgage deposits of first-home buyers, as first-home buyer subsidies from the federal government only pushed up property prices.</p> <p>"Despite rising prices and crushing interest rates, first-home buyers were the fastest-growing type of borrower," he said.</p> <p>"The Bank of Mum and Dad coughing up early inheritances and politicians showering them with grants and concessions, desperate to appear to be doing something about affordability while actually making it worse."</p> <p><em>Image credits: Shutterstock / ABC</em></p> <p class="mol-para-with-font" style="font-size: 16px; margin: 0px 0px 16px; padding: 0px; min-height: 0px; letter-spacing: -0.16px; font-family: graphik, Arial, sans-serif;"> </p>

Money & Banking

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To avoid the worst of climate change we have to change how we travel

<p>In September last year I embarked on a 5 week trip throughout Italy and France.</p> <p>We swam in the waters of Cinque Terre, ate the best pizza we’d ever had in Naples, and walked blisters into our feet through the streets of Paris.</p> <p>The marvels of modern aviation meant I completed my 32,000 km round trip in roughly 24 hours each way.</p> <p>But while I budgeted for the monetary costs associated with the trip, I neglected to consider another crucial one – the carbon cost.</p> <p>Humans are changing the Earth’s climate. It is estimated our activities have caused about 1°C of additional  atmospheric warming since the industrial revolution. The Intergovernmental Panel on Climate Change (IPCC) says <a href="https://www.ipcc.ch/sr15/chapter/spm/" target="_blank" rel="noreferrer noopener">crossing a 1.5°C threshold</a> will unleash devastating climate change impacts on human life and ecosystems.</p> <p>To keep global warming to below 1.5°C, as called for in the <a href="https://unfccc.int/process-and-meetings/the-paris-agreement" target="_blank" rel="noreferrer noopener">Paris Agreement</a>, emissions must peak before 2025 at the latest, halve by 2030, and reach net-zero as soon as possible before 2050. The <a href="https://www.unwto.org/the-glasgow-declaration-on-climate-action-in-tourism" target="_blank" rel="noreferrer noopener">Glasgow Declaration on Climate Action in Tourism</a>, launched at <a href="https://www.un.org/en/climatechange/cop26" target="_blank" rel="noreferrer noopener">COP26</a>, commits the tourism sector to these goals.</p> <p>So, what will global tourism look like as it begins to decarbonise? Will it necessitate changing the way I approach travel in the coming decades?</p> <p>Paul Peeters, a professor of sustainable transport and tourism at Breda University of Applied Sciences in the Netherlands is one of the principal authors of a report released last year that seeks to <a href="https://pure.buas.nl/ws/portalfiles/portal/27136592/Peeters_Papp_EnvisionTourism_report.pdf" target="_blank" rel="noreferrer noopener"><em>envision tourism in 2030 and beyond.</em></a></p> <h2 class="wp-block-heading">Tourism and emissions: how big of a contributor is it?</h2> <p>Tourism is a major contributor to climate change. According to Peeters, at least 5% of global CO<sub>2</sub> emissions come from tourism and travel, with some estimates as high as 8-11% if you include indirect (supply chain) emissions.</p> <p>These emissions are inequitable, about half of the global tourism footprint is caused by travel between the richest countries.</p> <p>If global tourism continues unchanged, it’s predicted to increase emissions by 73% by 2050, compared to 2019. In this scenario, the sector will use over 66% of the world’s remaining carbon budget between 2023 and 2100.</p> <p>Peeters says this is not a viable way forward. But it doesn’t mean that tourism will cease to exist, or that we must stop flying altogether.</p> <p>Instead, the modelling he presents finds there is a plausible decarbonisation pathway that allows tourism to continue with similar levels of growth in global revenue, trips, and guest nights compared to 2019, while also achieving net-zero emissions, by 2050.</p> <p>This model is called the Tourism Decarbonisation Scenario (TDS) and it requires us to re-think how we travel.</p> <h2 class="wp-block-heading">How do you put tourism emissions into a holding pattern?</h2> <p>“If you look at the division of the [emissions from] different parts of travel, then in general… transport takes about 75-80%, 20% goes to the accommodation sector,” says Peeters.</p> <p>That 20% also includes activities, like visiting museums or amusement parks.</p> <p>“And then within transport, you see that about more than half of the emissions come from aviation, while at the same time aviation serves about a quarter of all trips,” he says.</p> <p>Each country party to the Paris Agreement – a legally binding international treaty on climate change – is required to establish a <a href="https://www.un.org/en/climatechange/all-about-ndcs#:~:text=Simply%20put%2C%20an%20NDC%2C%20or,and%20adapt%20to%20climate%20impacts." target="_blank" rel="noreferrer noopener">Nationally Determined Contribution</a> (NDC). An NDC is an action plan to cut emissions and adapt to climate impacts, updated every 5 years.</p> <p>Most of tourism – like accommodation and on-ground transportation – falls within the Paris Agreement and these NDCs and will decarbonise through changes already happening in the legislation of each country. For instance, the transition to electrified forms of travel and accommodation powered by renewable energy. So, as a tourist, I won’t need to change my behaviour there.</p> <p>“But it’s not true for aviation. And the problem is that aviation, in terms of governance, has got an exemption,” says Peeters. Aviation emissions are much harder to reduce.</p> <p>The International Civil Aviation Organization  – ICAO – governs international aviation. It has a long-term aspirational goal for net-zero carbon emissions by 2050, and to achieve these goals is pursuing improvements to <a href="https://cosmosmagazine.com/science/engineering/hydrogen-fuelled-planes/">aircraft technology</a>, <a href="https://cosmosmagazine.com/technology/energy/from-refinery-to-biofuel-reactor/">sustainable aviation fuels</a>, and <a href="https://cosmosmagazine.com/earth/climate/carbon-offsetting-right/">carbon offsets</a>.</p> <p>But Peeters’ modelling says this won’t be enough.</p> <p>“The final technology is low or zero emission aircraft technology,” he says.</p> <p>“But that takes decades to develop and then decades to replace the whole fleet – you are not buying a new aircraft every year like a car.</p> <p>“That technology will come […] much faster actually than 10 years ago, but still it’s at a pace that we will have it by the end of the century fully implemented, not before.</p> <p>“We need an international body that governs the growth of aviation that actually stops it for the next couple of decades, to create a timeframe for the technology we need.”</p> <p>So until sustainable aviation technology can be fully implemented, the key is to slow the rate of growth of aviation.</p> <h2 class="wp-block-heading">Further does not equal better</h2> <p>In 2019, nearly all long-distance travel over 16,000 kms return trip was by air. These trips, equivalent to flying return Shanghai to Sydney or further, made up just 2% of all trips in 2019. But they were the most polluting – accounting for 19% of tourism’s total carbon emissions.</p> <p>My roundtrip from Australia to Europe sits in this bracket. I estimate my seats on those planes probably came with a carbon footprint of about 6.4 tonnes of CO<sub>2</sub> altogether. To put that in perspective, the average Australian emits 15 tonnes per year, according to <a href="https://ourworldindata.org/co2/country/australia" target="_blank" rel="noreferrer noopener">ourworldindata.org</a>, and I emitted almost half that in just 48 hours.</p> <p>Failing to curb the growth of these longest-haul trips means they will make up 4% of all trips but account for a massive 41% of tourism’s total emissions by 2050. To prevent this, the TDS says we need to cap them at 2019 levels – about 120 million return trips per year.</p> <p>In this scenario, shorter distance trips up to 900km return – that’s roughly equivalent to flying from Rome to Milan in Italy – and those by car, rail, coach, and ferry, would increase to 81% of all trips by 2050.</p> <p>Longer distance trips (return journeys of more than 7,000km, roughly equivalent to return flying Sydney to Perth and further) would also grow less quickly than current rates and account for 3.5% of all trips by 2050 (down from 6.0% in 2019).</p> <p>This could have flow-on benefits, especially for local tourism.</p> <p>“So, you keep the number of trips, and you keep the number of nights – you could even increase that a little bit as a compensation maybe for not being able to travel so far, then you can travel deeper. And that means the total revenues in the sector can grow as we are used to because the number of trips and the number of nights generate most of the revenues,” explains Peeters.</p> <h2 class="wp-block-heading">What curbing the aviation industry could look like</h2> <p>So, what will this mean for my travel habits in the coming years, if further isn’t better?</p> <p>It will likely involve a switch in mindset to consider whether an alternative, less carbon intensive mode of transport exists to reach the destination I have in mind.</p> <p>According to Peeters, even 1 fewer person sitting in an aircraft’s seats can measurably change its emissions.</p> <p>“Aircraft are quite lightweight, half of the weight of an aircraft taking off is not its structure. But it means that if you remove 100 kilograms, even off an Airbus A320, you can measure the difference in fuel consumption. It will save, I calculated it for flights, just a 1,500 km flight, already up to 10 kilograms of CO<sub>2</sub>,” says Peeters.</p> <p>Compare that to a different mode – adding an additional person to an already incredibly heavy train will add perhaps half a kilogram in emissions at most, probably less.</p> <p>It’s a little embarrassing to admit that I’ve never considered the idea of an interstate road trip, taking the car across the border or opting for a coach or train instead of flying, as a viable option for domestic travel in Australia.</p> <p>But it has for other people. <a href="https://flightfree.net.au/about/" target="_blank" rel="noreferrer noopener">Flight Free Australia</a> encourages us to stop flying, and people have already taken their pledge to swear off air travel – whether for the next 12 months or until it’s ‘climate safe’ to do so again.</p> <p>As for Europe… Well, Peeter’s report predicts that ticket prices will increase, with the cost of flying increasing to 0.18 $/pkm in 2050, from 0.06 $/pkm in 2019, caused mainly by mandates for sustainable aviation e-fuels.</p> <p>Entire families have event attempted to make it from one end of the world to another without setting foot on a plane – a months-long journey ultimately <a href="https://www.abc.net.au/news/2023-12-22/british-family-travel-australia-without-flying-carbon-footprint/103256280" target="_blank" rel="noreferrer noopener">foiled</a> by cyclones north of Darwin.</p> <p>Whether the changes outlined in the <em>Envisioning Tourism in 2030 and Beyond </em>report are made to the aviation industry, already my perspective on flying is changing. Why would I reduce my carbon footprint in other areas of my life, but turn around and negate those efforts by jumping on a plane?</p> <p>It doesn’t mean that I have to give up travel, just change my perspective on what makes a worthy destination.</p> <p>“You see a growing number of people, particularly young people, that say, ‘I stopped flying, whatever happens, I never go anymore’,” says Peeters.</p> <p>“And it makes your life so much easier. You don’t have to choose every time ‘should I fly?’. No, if you can’t get there by train, car, or whatever, you don’t go. And then you go somewhere else, of course, you’re not sitting at home. And you discover that somewhere else is also beautiful.”</p> <div> <p align="center"><noscript data-spai="1"><img decoding="async" fetchpriority="high" class="aligncenter size-full wp-image-198773" src="https://cdn.shortpixel.ai/spai/q_lossy+ret_img+to_auto/cosmosmagazine.com/wp-content/uploads/2023/11/Cosmos-Catch-Up-embed_728x150-1.jpg" data-spai-egr="1" alt="Sign up to our weekly newsletter" width="600" height="154" title="to avoid the worst of climate change we have to change how we travel 2"></noscript></p> </div> <p><!-- Start of tracking content syndication. Please do not remove this section as it allows us to keep track of republished articles --></p> <p><img id="cosmos-post-tracker" style="opacity: 0; height: 1px!important; width: 1px!important; border: 0!important; position: absolute!important; z-index: -1!important;" src="https://syndication.cosmosmagazine.com/?id=294884&amp;title=To+avoid+the+worst+of+climate+change+we+have+to+change+how+we+travel" width="1" height="1" loading="lazy" aria-label="Syndication Tracker" data-spai-target="src" data-spai-orig="" data-spai-exclude="nocdn" /></p> <p><!-- End of tracking content syndication --></p> <div class="share-syndicate-wrapper margin-top-1"> <div class="article-sharing"> <p><em>Image credits: Getty Images</em></p> </div> </div> <div id="contributors"> <p><em><a href="https://cosmosmagazine.com/synergy/to-avoid-the-worst-of-climate-change-we-have-to-change-how-we-travel/">This article</a> was originally published on <a href="https://cosmosmagazine.com">Cosmos Magazine</a> and was written by <a href="https://cosmosmagazine.com/contributor/imma-perfetto/">Imma Perfetto</a>. </em></p> </div>

Travel Trouble

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Restaurant's kind act for struggling Aussies

<p>As Aussies continue to adapt to the rising cost-of-living, one restaurant owner took it upon herself to give back to the "struggling" community. </p> <p>Aleeya Hamidan the owner of Manoosh & Co in Eagle Vale, southwest of Sydney, realised that a lot of people in the community are struggling to afford food.</p> <p>"Prices are going up in rent, and there are a lot of large families that live here as well. They don't have much spare money to go out and eat with their kids after school,"  she told <em>Yahoo News Australia</em>.</p> <p>So, she decided to implement a system where customers in need can get a free meal that has been paid for by other customers. </p> <p>The text: "Please take one if [you're] in need!! Already paid for from our beautiful customers" is written on a whiteboard, with six receipts containing various orders valued at around $10-$12 attached to it. </p> <p>Hamidan was the first to put up an order on the board a few weeks ago to encourage other customers to do the same, and the system has grown in popularity since. </p> <p>"One man came in a few weeks ago and took one of the free meals, but the following week when he did have money, he purchased one for someone else," she said. </p> <p>"We just didn't want it to be intimidating for people who can't afford our products.</p> <p>"It was just something we started doing for a little but have now continued to do. We've had such amazing feedback on it."</p> <p>The restaurant owner's kind deed was praised after local woman Amanda Mauga posted a picture of the board on social media. </p> <p>"If you are having a hard time and need a meal or coffee, go down to Manoosh Eagle Vale," she shared in a community Facebook page. </p> <p>"People buy food for people who need it. So if you're in need head down there, I have left you a coffee. Enjoy."</p> <p>Mauga said that she "felt inspired to help" after seeing the thoughtful gesture, and wanted to help those who were homeless and struggling in their community "in some small way". </p> <p>The post racked up thousands of likes and comments from people impressed by the "great initiative". </p> <p>"What a great idea! We need more like this. So many people are struggling, bravo," one wrote. </p> <p>"Well done folks... nice there are caring people around," another commented</p> <p>"What an amazing shop for even doing this," a third commented.</p> <p><em>Images: Manoosh & Co</em></p> <p> </p>

Domestic Travel

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Climate activists throw soup at Mona Lisa

<p>Two climate change activists have hurled soup at the bullet-proof glass protecting Leonardo da Vinci’s iconic painting, the Mona Lisa, at the Louvre Museum in Paris. </p> <p>On Sunday morning, local time, a video posted on social media showed two women throwing red and orange soup onto the glass protecting the painting to the shock of bystanders. </p> <p>The incident came amid days of protests by French farmers across the country demanding better pay, taxes, and regulations.</p> <p>The two women, with the words "FOOD RIPOSTE" or "Food Counterattack" written on their T-shirts,  managed to pass under the security barrier and stood in front of the painting, while shouting slogans for a sustainable food system.</p> <p>“What is more important? Art or the right to healthy and sustainable food?” they asked. </p> <p>“Your agricultural system is sick. Our farmers are dying at work,” they added, before the security put black panels in front of the painting, and asked visitors to evacuate the space. </p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="fr">ALERTE - Des militantes pour le climat jettent de la soupe sur le tableau de La Joconde au musée du Louvre. <a href="https://twitter.com/CLPRESSFR?ref_src=twsrc%5Etfw">@CLPRESSFR</a> <a href="https://t.co/Aa7gavRRc4">pic.twitter.com/Aa7gavRRc4</a></p> <p>— CLPRESS / Agence de presse (@CLPRESSFR) <a href="https://twitter.com/CLPRESSFR/status/1751538762687893894?ref_src=twsrc%5Etfw">January 28, 2024</a></p></blockquote> <p>On its website, the "Food Riposte" group said that the French government is breaking its climate commitments, and they demanded a state-sponsored health care system to be put in to give people better access to healthy food, while providing farmers with a decent income. </p> <p>The protests comes after the French government announced a series of measures for agricultural workers on Friday, which they believe do not fully address their demands. </p> <p><em>Image: Twitter</em><span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> </span></p>

Legal

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Real estate agency slammed for "greedy" rental increase

<p>Real estate agency Nelson Alexander has come under fire after increasing the weekly rent to one of their vacant properties on the day of the viewing. </p> <p>The property, located in the inner suburbs of Melbourne, had a scheduled viewing on Thursday and many hopeful tenants were keen to check it out. </p> <p>Unfortunately, their interest came at a cost, as the agency sent out a text just hours beforehand saying that they were increasing  the weekly rent from $600 to $650 due to "overwhelming" demand.</p> <p>Journalist Jacqueline Felgate shared the text on social media, and many branded the agency's move as  "greedy" and "disgraceful" and even accused them of perpetuating the rental crisis. </p> <p>The exact location of the property and the number of bedrooms it has <span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">is unknown, and after receiving all the backlash, the ad has since been pulled. </span></p> <p><span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">The real estate agency also apologised and said that </span>they "do not solicit or encourage any form of rental bidding".</p> <p>"Whilst the current issue at hand is not a breach of legislation, it fell short of our commitment to fair and transparent practices," the statement read.</p> <p>"We are deeply aware of the moral and social responsibility we have to our community during these challenging times."</p> <p>They also added that they are currently reviewing their processes to "ensure this doesn't ever happen again". </p> <p>It is unclear whether the property has been put back on the market and for what price. </p> <p><em style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline; color: #323338; font-family: Figtree, Roboto, 'Noto Sans Hebrew', 'Noto Kufi Arabic', 'Noto Sans JP', sans-serif; background-color: #ffffff; outline: none !important;">Images: Instagram</em></p>

Money & Banking

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"Proud to pay more": The billionaires who want to pay more tax

<p>Over 250 millionaires and billionaires have issued an <a href="https://proudtopaymore.org/" target="_blank" rel="noopener">open letter</a> to global leaders encouraging them to implement wealth taxes to combat the cost-of-living crisis. </p> <p>This comes just as a report by the <a href="https://www.oversixty.com.au/finance/money-banking/shocking-amount-australia-s-richest-people-earn-per-hour" target="_blank" rel="noopener">Oxfam Charity</a> revealed that the global wealth of billionaires have only grown in the last three years despite inflation. </p> <p>The open letter, signed by super-rich individuals from 17 countries, includes signatories like Abigail Disney, the grand-niece of Walt Disney, <em>Succession </em>actor Brian Cox, and American philanthropist and Rockefeller family heir Valerie Rockefeller.</p> <p>They said that they would be "proud to pay more taxes" in order to address the  inequality.</p> <p>"Elected leaders must tax us, the super rich,"  the letter read. </p> <p>"This will not fundamentally alter our standard of living, nor deprive our children, nor harm our nations' economic growth.</p> <p>"But it will turn extreme and unproductive private wealth into an investment for our common democratic future."</p> <p>Austrian heir Marlene Engelhorn is also among the voices demanding that they pay more in taxes.</p> <p>"I've inherited a fortune and therefore power, without having done anything for it. And the state doesn't even want taxes on it,"  Engelhorn, who inherited millions from her family who founded chemical giant BASF, said.</p> <p>The letter was released just as global leaders gather in Davos, Switzerland for the World Economic Forum.</p> <p>Abigail Disney, whose net-worth is measured at more than $100 million, said that lawmakers need to come together to make a meaningful economic and social change. </p> <p>"There's too much at stake for us all to wait for the ultra rich to grow a conscience and voluntarily change their ways," she said.</p> <p>"For that reason, lawmakers must step in and tax extreme wealth, along with the variety of environmentally destructive habits of the world's richest."</p> <p>A recent <a href="https://static1.squarespace.com/static/63fe48c7e864f3729e4f9287/t/6596bfb943707b56d11f1296/1704378297933/G20+Survey+of+those+with+More+than+%241+million+on+Attitudes+to+Extreme+Wealth+and+Taxing+the+Super+Rich.pdf" target="_blank" rel="noopener">survey</a> of almost 2400 millionaires found that 74 per cent of them supported the introduction of a wealth tax to fund improved public services and deal with the cost-of-living crisis.</p> <p>The open letter also said that one-off donations and philanthropy "cannot redress the current colossal imbalance" of societal wealth.</p> <p>"We need our governments and our leaders to lead," the letter said. </p> <p>"The true measure of a society can be found, not just in how it treats its most vulnerable, but in what it asks of its wealthiest members."</p> <p><em>Images: Getty</em></p>

Money & Banking

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Coles shopper admits to stealing to feed her family amid cost of living crisis

<p>A woman has made a desperate plea to Prime Minister Anthony Albanese after overhearing a teary Coles shopper admit to shoplifting to feed her family. </p> <p>The woman was shopping in her local Coles supermarket when she overheard another shopper confess the desperate act to her friend, as the cost of living crisis continues to impact struggling Aussies. </p> <p>Australia’s cost of living crisis is continuing to see millions struggle with soaring interest rates and rent prices, high energy bills and rising supermarket costs, with many being forced to take drastic measures to survive. </p> <p>Sharing on Facebook, the woman said she was feeling “let down” and “hoodwinked” by the Albanese government after listening to the Coles customer’s heartbreaking story.</p> <p>“Anthony Albanese, I am so deeply saddened to hear someone shopping at Coles admit to her friend in tears that sometimes she now steals food because she simply can’t put food on the table any other way,” she wrote.</p> <p>“Of course there is food relief et al (but those services are also at breaking point). It’s disheartening to witness firsthand the desperation that leads someone to resort to theft just to put food on the table."</p> <p>“While I have you, I am feeling let down and somewhat hoodwinked by you. Your sentiment around truly understanding hardship because of your upbringing seems to have been just talk."</p> <p>“What I heard today made me realise that not enough is being done that was promised to make a positive impact on the lives of those struggling with adversity.”</p> <p>Many commented on the post saying not enough was being done to help battling Aussies, and urging the government to do more. </p> <p>“The line at ReachOut (food pantry) was around the corner and down the street this afternoon,” one said.</p> <p>Another added, “Food costs are beyond ridiculous right now. I fear that the horse has bolted and once it’s out ... it’s not coming back for pats.</p> <p>“And sorry to say but Albo is just another politician. Hope he sees this and listens but I’m not holding my breath. Sad state of affairs.”</p> <p><em>Image credits: Shutterstock</em></p>

Money & Banking

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Kochie's brutal message to Baby Boomers

<p>David Koch has shared his brutal thoughts on the housing crisis and rising interest rates, claiming millennials have been dealt the "short end of the stick", while boomers have been spared. </p> <p>The former <em>Sunrise</em> host, who is now the Economic Director at Compare the Market, said young borrowers are copping the brunt of rising interest rates and soaring inflations. </p> <p>“If you bought your home in early 2022 under the pretence that interest rates would stay low for longer, you’ve now been lumped with the short end of the stick,” Mr Koch said.</p> <p>He went on to say young people had difficulty generating any decent savings due to record rental prices and cost-of-living, and those that can scrape together a deposit on a home now face onerous interest charges.</p> <p>Recent data from Compare the Market found homeowners who bought their homes at the peak of the market in early 2022 were far worse off compared to those who bought three years earlier. </p> <p>Those who also bought property before the Covid lockdown have also benefited from a rise in their equity, as property prices have significantly increased over the past four years.</p> <p>Kochie said the repayment hike as a result of rising interest rates was a "tough pill" for young Aussies who had no time to accrue a strong savings buffer.  </p> <p>Given these factors, Kochie said many Aussie baby boomers have been spared the pain of rising interest rates.</p> <p>"Meanwhile, a lot of mature Australians have missed this pain altogether after selling their properties at the peak and having reaped the benefits over more equity for years," he said.</p> <p>"A lot of mature Australians have been shielded from the rate rises, and it's already widely believed that their spending drove inflation."</p> <p>A recent report from CommBank iQ found that baby boomers spending on luxuries appears to be further fuelling Australia's inflation crisis as millennials are forced to cut back on essentials.</p> <p>This goes a long way to explaining why the current cycle of interest rate rises are not dampening inflation as expected, as the new big spenders are older people who own properties outright and are therefore unaffected by rate rises.</p> <p>Boomers are are going on holidays and dining out more often, while millennials, battling higher rents and mortgage repayments, rare being forced to reduce their spending to cope with the worst cost of living crisis in a generation.</p> <p>Koch said, "It's time policy-makers should be asking: how could the pressure be more evenly spread?"</p> <p>Aussie baby boomers have long claimed that they had to make the same sacrifices when they were buying their first homes, given the home loan rate in 1989 to 1990 was at 17 per cent, compared to today's six per cent variable rates.</p> <p>However, Kochie debunked this claim, saying current house prices are far higher when measured against average salaries, and that level was only accelerating, far outpacing wages growth.</p> <p>"Back in the 80s, the average cost of an Aussie house was $70,000, now it's $700,000 - ten times more expensive," he said. </p> <p>The financial guru explained how in the 1980s the average salary was $19,000, compared with $94,000 in 2023.</p> <p>"So in the 80s, the price of a house was four times the average person's income," he said.</p> <p>"In 2023, it's eight times the average Aussie salary."</p> <p>Kochie urged mortgage holders hit with higher repayments to call their banks and explore whether refinancing to a lower-rate loan is possible. </p> <p>"We urge people in mortgage pain to reduce the interest on their repayments as much as possible by shopping around for a better deal," Koch said. </p> <p>"When every dollar counts, 2024 should be the year of the new lender."</p> <p><em>Image credits: Compare the Market </em></p>

Money & Banking

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The cost-of-living crisis is hitting hard. Here are 3 ways to soften the blow

<p><em><a href="https://theconversation.com/profiles/ama-samarasinghe-1386754">Ama Samarasinghe</a>, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a></em></p> <p>As our wallets feel the strain from the cost-of-living crisis, many of us are looking for ways to soften the blow.</p> <p>While everyone’s circumstances are different, and ideally you should seek help from an accredited financial adviser, there are some tried and true ways to work out where all your money is going and why.</p> <p>Here are three practical tips to reduce the impact of the cost-of-living increases, and stretch every hard-earned dollar.</p> <h2>1. Hunt for a better loan rate</h2> <p>For many households, the biggest hit comes from the mortgage, so start there.</p> <p>Even a modest 0.5% reduction can translate into substantial savings. Call your bank today and just ask for rate reduction. If the answer is no, consider shopping around for a different lender.</p> <p>Your loyalty to your current lender might be costing you more than you realise. Banks often reserve their most attractive rates for new customers, leaving long-time customers paying higher-than-necessary interest.</p> <p>Even if your bank does agree to a rate reduction, explore the market anyway. There is a range of free rate-comparison websites, or you can directly check individual bank websites.</p> <p>If you find a lender offering a better rate, you might consider calling the competing bank to ask about switching your mortgage to them.</p> <p>Or, you might seek assistance from a mortgage broker, who can guide you through the process of securing a better deal (just remember they often take <a href="https://www.canstar.com.au/home-loans/mortgage-brokers-fees/">commissions</a> from lenders).</p> <p>Tread carefully and factor in any exit fees or charges from your current lender. Refinancing isn’t without risk, so a thorough cost-benefit analysis is important before making the switch.</p> <p>Also consider the value of features such as <a href="https://moneysmart.gov.au/glossary/offset-account">offset accounts</a>. An offset account, linked to your home loan, allows you to deposit money such as your salary and savings. This money is then “<a href="https://www.rba.gov.au/publications/smp/2015/aug/box-e-offset-account-balances-and-housing-credit.html">offset</a>” against your home loan balance.</p> <p>That means you only pay interest on the outstanding amount (the loan minus whatever salary and savings you put in the offset). This can accelerate loan repayment and reduce interest costs.</p> <p>Keep in mind that offset accounts are typically only available with variable interest rates. Offset accounts work best if you have considerable savings to put into the offset account that outweigh the additional fees and charges attached to offset accounts.</p> <h2>2. Trim your expenses and uncover hidden savings</h2> <p>It’s time to become a budget detective, identifying and cutting down on non-essential costs that might be quietly draining your wallet.</p> <p>Take a close look at those recurring memberships and subscriptions. How often do you actually use that gym membership or streaming service?</p> <p>Many banking apps have handy spending tracking features to help you set realistic budget goals for each spending category.</p> <p>According to the <a href="https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/selected-living-cost-indexes-australia/latest-release">Australian Bureau of Statistics</a>, insurance and financial services are among the top risers in living cost indexes (which measure the price change of goods and services and its effect on living expenses). So search comparison websites for better insurance premiums.</p> <p>Australia’s insurance market is competitive, and you can often get discounts by bundling your insurances together (for example, having your home and contents insurance with the same company that also provides your car insurance). However, don’t shy away from exploring different insurers for potentially better value.</p> <p>Don’t overlook energy costs, either. Use comparison websites like <a href="https://www.energymadeeasy.gov.au/">Energy Made Easy</a> (or, if you’re in Victoria, the <a href="https://compare.energy.vic.gov.au/">Victorian Energy Compare</a> site) to find more cost-effective energy plans. Stay updated on rebates and concessions via the federal government’s <a href="https://energy.gov.au">Energy.gov.au</a> site, to ensure you’re maximising your entitlements.</p> <p>Use less energy, if you can. Small adjustments can make a significant dent in your bills. And for fuel costs, find websites and applications that allow you to lock in the lowest prices in your area.</p> <p>If you’re renting, ask yourself whether moving to a cheaper suburb or a cheaper home is an option.</p> <p>Many people use cashback sites like Cashrewards and ShopBack to accrue cashback incentives.</p> <h2>3. Maximise returns and tackle high-interest debts</h2> <p>While rising interest rates might make your mortgage climb, it also means high interest on your savings.</p> <p>Consider exploring high-yield savings accounts; with current interest rates, you could potentially earn around 5.5% with a bank savings account. Many people set up recurring transfers to help them stick to savings goals, increase deposits and maximise interest earnings.</p> <p>For those wrestling with high-interest debts such as credit cards or personal loans, prioritise settling outstanding balances to minimise interest payments. It can be hard to escape the long-term repercussions (such as a <a href="https://theconversation.com/payday-lending-trap-requires-a-credit-supply-rethink-39311">poor credit score</a>) of defaulting on <a href="https://www.sydney.edu.au/news-opinion/news/2022/09/21/researchers-uncover--pecking-order-of-defaults--as-belts-tighten.html">high-interest loans</a>.</p> <p>And approach buy-now, pay-later services with extreme caution. They may seem tempting but the <a href="https://onlinelibrary.wiley.com/doi/10.1111/acfi.13100">debts can quickly add up</a>.</p> <p>And if you need more help, contact the government’s free National Debt Helpline on 1800 007 007.<!-- 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/218118/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><a href="https://theconversation.com/profiles/ama-samarasinghe-1386754"><em>Ama Samarasinghe</em></a><em>, Lecturer, Financial Planning and Tax, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</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/the-cost-of-living-crisis-is-hitting-hard-here-are-3-ways-to-soften-the-blow-218118">original article</a>.</em></p>

Money & Banking

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Women forced to do shocking act for $100 rent reduction

<p>Two women in Queensland have claimed that they were forced to use a makeshift  "temporary shower" outdoors, while renovations are being carried out in the property's only bathroom. </p> <p>The pair, who were expecting a porta-loo style shower to use during the four-to-six weeks renovation, were horrified when they found out the makeshift shower was just a blue tarpaulin attached to the side of the house.</p> <p>Electrical cords and plumbing pipes can be spotted hanging down in front of the open cubicle, and has no curtain for privacy or a lock, raising questions for their privacy and safety. </p> <p>To make matters worse, the women revealed on Facebook that they initially tried negotiating for a rental discount of $200 per week during the renovations, but their landlord said "no way" offering only a $50 discount, "then $100 as final offer".</p> <p>Dr Chris Martin, Senior Research Fellow in the University of NSW's City Futures Research Centre, slammed the landlord for "a bunch of possible breaches". </p> <p>"There is a big question about whether the temporary arrangement meets the minimum standards that apply to rented premises in Queensland under the Residential Tenancies and Rooming Accommodation Act," he told <em>Yahoo News</em>. </p> <p>"Those minimum standards include that the bathroom and toilet facilities must provide privacy and that a premise must be weatherproof and structurally sound, and there's a standard about security," he added. </p> <p>He also claimed that "there's a bunch of possible breaches of the minimum standards of this temporary arrangement," as intruders could also potentially get in. </p> <p>The Senior Research Fellow also slammed the $100-a-week reduction in rent, calling it "grossly insufficient".</p> <p>"What a professional landlord who takes a bit of pride in themselves as a reputable housing provider would have done, is hire one of those portable bathrooms that come on a little trailer with a little heater and hook it up, and also do a rent reduction for the hassle of having to trot out to the trailer to shower," he said.</p> <p>"That would be the appropriate response."</p> <p>He encouraged the tenants to speak to Tenants Queensland or a local tenants advice service about what to do, adding that they could say that the current temporary arrangements could be deemed "unlivable or uninhabitable". </p> <p>"I suggest they should also be telling the landlord that this arrangement may place the landlord in a further breach of the agreement and for the liability for an even bigger rent reduction and the prospect of compensation if they don't do this better,"  Dr Martin told the publication. </p> <p><em>Images: Facebook</em></p>

Money & Banking

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"Is this legal?" Residents outraged over demanding aircon letter

<p>Residents in a Sydney unit complex were left outraged after they were asked to turn off their air conditioners overnight.</p> <p>A letter placed inside the elevator of the 18-floor apartment building states that the utility can only be used “during the following times."</p> <p>“Weekdays 7am to 10pm, weekends and public holidays 8am to 10pm,” the letter said.  </p> <p>“At other times than this, please turn off your air conditioners, especially after 10:00 PM every day.”</p> <p>The letter, which was posted on Facebook, received a lot of backlash from other residents and renters</p> <p>One resident who lived in the 1960s building for a decade said it was the first time she had heard of such a request.</p> <p>“Can anyone please let me know if this is legal? Can they actually force people to not run their own AC units?” the person asked. </p> <p>Many other renters expressed their annoyance, with one joking that they'd have to pry the aircon off their dead hands. </p> <p>“Anyone else feel like we are in a Nanny State?” one wrote. </p> <p>“To be honest with 30°c nights they can pry my aircon from my cold dead heads,” another quipped. </p> <p>One Facebook user also commented that building developers might be to blame. </p> <p>“I think the strata builders got a bit cheap and installed less expensive aircons and therefore they are too loud. Bet if they had decent ones, the tenants wouldn’t have to suffer hot nights because of the noise,” they said. </p> <p>A few others commented that it might not just be a request from strata, but local councils that are enforcing new noise pollution restrictions which affect aircons. </p> <p>City of Sydney, Inner West, and Penrith councils, are a few of the local governments which require the airconditioners to be turned off 10pm to 7am during the week and until 8am on the weekend, the same time requested on the laters. </p> <p>The local governments also recommend that residents and developers purchase high-quality airconditioners that won't cause noise pollution or disturb neighbours. </p> <p>“Even if you’ve been told that it complies with noise requirements, it doesn’t mean it’s going to suit every location all the time,” the Inner West Council website read. </p> <p>The letter comes as Sydney battles its second heatwave in the span of a week. </p> <p><em>Images: Facebook/ Getty</em></p>

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It’s time to limit how often we can travel abroad – ‘carbon passports’ may be the answer

<p><em><a href="https://theconversation.com/profiles/ross-bennett-cook-1301368">Ross Bennett-Cook</a>, <a href="https://theconversation.com/institutions/university-of-westminster-916">University of Westminster</a></em></p> <p>The summer of 2023 has been very significant for the travel industry. By the end of July, international tourist arrivals globally <a href="https://www.unwto.org/news/international-tourism-swiftly-overcoming-pandemic-downturn">reached 84% of pre-pandemic levels</a>. In <a href="https://joint-research-centre.ec.europa.eu/jrc-news-and-updates/eu-tourism-almost-full-recovery-pre-pandemic-levels-2023-10-23_en">some European countries</a>, such as France, Denmark and Ireland, tourism demand even surpassed its pre-pandemic level.</p> <p>This may be great <a href="https://skift.com/insight/state-of-travel/">news economically</a>, but there’s concern that a return to the status quo is already showing dire environmental and social consequences.</p> <p>The summer saw record-breaking heatwaves across many parts of the world. People were forced to flee <a href="https://www.theguardian.com/world/2023/jul/24/greece-wildfires-corfu-evia-rhodes-heatwave-northern-hemisphere-extreme-weather-temperatures-europe">wildfires in Greece</a> and <a href="https://www.independent.co.uk/climate-change/news/hawaii-fires-update-biden-b2393188.html">Hawaii</a>, and extreme <a href="https://www.manchestereveningnews.co.uk/news/world-news/foreign-office-issues-spain-weather-27339111">weather warnings</a> were issued in many popular holiday destinations like Portugal, Spain and Turkey. Experts <a href="https://theconversation.com/european-heatwave-whats-causing-it-and-is-climate-change-to-blame-209653">attributed these extreme conditions</a> to climate change.</p> <p>Tourism is part of the problem. The tourism sector <a href="https://wttc.org/Portals/0/Documents/Reports/2021/WTTC_Net_Zero_Roadmap.pdf">generates around one-tenth</a> of the greenhouse gas emissions that are driving the climate crisis.</p> <p>The negative impacts of tourism on the environment have become so severe that some are suggesting drastic changes to our travel habits are inevitable. In a <a href="https://www.intrepidtravel.com/sites/intrepid/files/basic_page/files/A%20Sustainable%20Future%20For%20Travel%20From%20Crisis%20To%20Transformation-231016-02.pdf">report</a> from 2023 that analysed the future of sustainable travel, tour operator Intrepid Travel proposed that “carbon passports” will soon become a reality if the tourism industry hopes to survive.</p> <h2>What is a carbon passport?</h2> <p>The idea of a carbon passport centres on each traveller being assigned a yearly carbon allowance that they cannot exceed. These allowances can then “ration” travel.</p> <p>This concept may seem extreme. But the idea of personal carbon allowances is not new. A <a href="https://publications.parliament.uk/pa/cm200708/cmselect/cmenvaud/565/565.pdf">similar concept</a> (called “personal carbon trading”) was discussed in the House of Commons in 2008, before being shut down due to its perceived complexity and the possibility of public resistance.</p> <p>The <a href="https://www.nature.org/en-us/get-involved/how-to-help/carbon-footprint-calculator/#:%7E:text=A%20carbon%20footprint%20is%20the,is%20closer%20to%204%20tons.">average annual carbon footprint</a> for a person in the US is 16 tonnes – one of the highest rates in the world. In the UK this figure sits at 11.7 tonnes, still more than five times the figure recommended by the <a href="https://www.openaccessgovernment.org/the-average-british-carbon-footprint-is-five-times-over-paris-agreement-recommendations/152669/#:%7E:text=Despite%20rising%20environmental%20awareness%20across,equivalent%20(tCO2e)%20per%20year.">Paris Agreement</a> to keep global temperature rise below 1.5°C.</p> <p>Globally, the average annual carbon footprint of a person is closer to 4 tonnes. But, to have the best chance of preventing temperature rise from overshooting 2°C, the average global carbon footprint <a href="https://www.nature.org/en-us/get-involved/how-to-help/carbon-footprint-calculator/#:%7E:text=Globally%2C%20the%20average%20carbon%20footprint,tons%20doesn't%20happen%20overnight!">needs to drop</a> to under 2 tonnes by 2050. This figure equates to around <a href="https://www.theguardian.com/environment/ng-interactive/2019/jul/19/carbon-calculator-how-taking-one-flight-emits-as-much-as-many-people-do-in-a-year">two return flights</a> between London and New York.</p> <p>Intrepid Travel’s report predicts that we will see carbon passports in action by 2040. However, <a href="https://www.politico.eu/article/travel-short-haul-flights-europe-under-fire-climate-change-cop26/">several laws and restrictions</a> have been put in place over the past year that suggest our travel habits may already be on the verge of change.</p> <h2>Targeting air travel</h2> <p>Between 2013 and 2018, the amount of CO₂ emitted by commercial aircrafts worldwide <a href="https://theicct.org/sites/default/files/publications/ICCT_CO2-commercl-aviation-2018_20190918.pdf">increased by 32%</a>. Improvements in fuel efficiency are slowly reducing per passenger emissions. But <a href="https://www.sciencedirect.com/science/article/pii/S1352231014004889">research</a> from 2014 found that whatever the industry’s efforts to reduce its carbon emissions, they will be outweighed by the growth in air traffic.</p> <p>For emission reductions to have any meaningful effect, ticket prices would have to rise by 1.4% each year, discouraging some people from flying. However, in reality, <a href="https://www.climatecentral.org/news/increase-in-flights-will-outweigh-carbon-cuts-17875">ticket prices are falling</a>.</p> <p>Some European countries are beginning to take measures to reduce air travel. As of April 1 2023, passengers on short-haul flights and older aircraft in Belgium have been <a href="https://www.euronews.com/green/2022/12/12/private-jets-and-short-haul-flights-face-pollution-busting-tax-increases-in-belgium">subject to increased taxes</a> to encourage alternative forms of travel.</p> <p>Less than two months later France banned <a href="https://www.bbc.co.uk/news/world-europe-65687665">short-haul domestic flights</a> where the same trip can be made by train in two-and-a-half hours or less. <a href="https://businesstravelerusa.com/news/spain-to-follow-frances-lead-plans-to-ban-short-haul-domestic-flights/">Spain</a> is expected to follow suit.</p> <p>A similar scheme could also be on the horizon for Germany. In 2021, a <a href="https://www.cleanenergywire.org/news/seventy-percent-germans-favour-banning-short-haul-flights-survey">YouGov poll</a> found that 70% of Germans would support such measures to fight climate change if alternative transport routes like trains or ships were available.</p> <h2>Cruises and carbon</h2> <p>It’s not just air travel that’s being criticised. An <a href="https://www.transportenvironment.org/wp-content/uploads/2023/06/The-return-of-the-cruise-June-2023.pdf">investigation</a> by the European Federation for Transport and Environment in 2023 found that cruise ships pump four times as many sulphuric gases (which are proven to cause acid rain and <a href="https://www.forbes.com/sites/jamesellsmoor/2019/04/26/cruise-ship-pollution-is-causing-serious-health-and-environmental-problems/?sh=468ee2f637db">several respiratory conditions</a>) into the atmosphere than all of Europe’s 291 million cars combined.</p> <p>Statistics like these have forced European destinations to <a href="https://www.ft.com/content/8727387d-590d-43bd-a305-b5ec208a4dfe">take action</a> against the cruise industry. In July, Amsterdam’s council <a href="https://www.bbc.co.uk/news/world-europe-66264226">banned cruise ships</a> from docking in the city centre in a bid to reduce tourism and pollution – an initiative that has shown success elsewhere.</p> <p>In 2019 Venice was the most polluted European port, due to large numbers of cruise ship visits. But it dropped to 41st place in 2022 after a ban on large cruise ships entering the city’s waters <a href="https://www.transportenvironment.org/discover/europes-luxury-cruise-ships-emit-as-much-toxic-sulphur-as-1bn-cars-study/">reduced air pollutants from ships</a> in Venice by 80%.</p> <h2>Changing destinations</h2> <p>Intrepid Travel’s report also highlights that not only how we travel, but <a href="https://joint-research-centre.ec.europa.eu/jrc-news-and-updates/global-warming-reshuffle-europes-tourism-demand-particularly-coastal-areas-2023-07-28_en">where we travel</a> will soon be impacted by climate change. Boiling temperatures will probably diminish the allure of traditional beach destinations, prompting European tourists to search for cooler destinations such as Belgium, Slovenia and Poland for their summer holidays.</p> <p><a href="https://www.travelweekly.com/Travel-News/Tour-Operators/Travelers-seek-cooler-destinations-this-summer">Several travel agencies</a> reported seeing noticeable increases in holiday bookings to cooler European destinations like Scandinavia, Ireland and the UK during 2023’s peak summer travel months.</p> <p>Whatever the solution may be, changes to our travel habits look inevitable. Destinations across the globe, from <a href="https://www.theneweuropean.co.uk/barcelonas-war-on-tourism-ada-colau/">Barcelona</a> to the <a href="https://www.dw.com/en/italy-tourism-bans-controls-fees-restrictions/a-66453047">Italian riveria</a> and even <a href="https://theconversation.com/death-on-everest-the-boom-in-climbing-tourism-is-dangerous-and-unsustainable-114033">Mount Everest</a> are already calling for limits on tourist numbers as they struggle to cope with crowds and pollution.</p> <p>Holidaymakers should prepare to change their travel habits now, before this change is forced upon them.<!-- 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><a href="https://theconversation.com/profiles/ross-bennett-cook-1301368"><em>Ross Bennett-Cook</em></a><em>, Visiting Lecturer, School of Architecture + Cities, <a href="https://theconversation.com/institutions/university-of-westminster-916">University of Westminster</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/its-time-to-limit-how-often-we-can-travel-abroad-carbon-passports-may-be-the-answer-216503">original article</a>.</em></p>

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