'The value just isn't there': customers turn on Telstra

"The value just isn't there" - customers turn on Telstra following price hikes, CHOICE calls out dodgy power pricing tactics, and experts warn that following TikTok tax advice could land you in jail. Here are five things you may have missed this week.

'Time to shop around' as Telstra hikes charges

From July 1, 2025, Telstra customers can expect to pay more for postpaid mobile, and home and small business internet plans.

Most plans will see a price hike of $3 to $5 a month.

Telstra claims the price hikes will "improve our mobile network performance and experience".

But the telco's customers aren't convinced.

One Reddit user noted, "The value just isn't there, nor do they reward any customers for staying on."

Another declared "time to shop around".

According to Finder, Telstra raised its postpaid mobile prices by $3 to $4 a month last year.

The year before that, an extra $3 to $6 a month was added to the bill.

The silver lining is that there won't be any changes to its prepaid plans, home phone plans, satellite plans, and 5G home internet plans.

CHOICE files 'super complaint' about energy retailers

You may think you're on your power provider's cheapest plan.

But chances are you're not.

Consumer group CHOICE has lifted the lid on a sneaky bill tactic used by power companies.

Your electricity bill is required by law to show if you could save by switching to a different plan with the same provider.

The catch, according to CHOICE, is that power companies often give newer, cheaper plans the same name as older, more expensive plans.

So people think they're already on the best offer, when in fact, they're stuck with a worse plan.

And it's hurting our hip pockets.

CHOICE reviewed almost 400 household power bills, and found 64 had 'better offer' messages with plans that had the same name as the customer's current power plan.

These households are missing out on savings averaging $171 annually.

CHOICE has taken its findings as a 'super complaint' to the ACCC, which has 90 days to respond.

Ignore TikTok 'advice' at tax time

If you see a TikTok vid suggesting you can claim your pooch on tax, it's probably time to put down the phone.

That's the advice from accounting body CPA Australia, which is warning that taking tax advice from social media platforms, especially TikTok, is a bad idea.

CPA Australia reports numerous examples of TikTok finfluencers - some with large followings - making outrageous claims about potential work-related tax deductions.

They include:

• Claiming expenses for your pet as a guard dog while you work from home
• Claiming a luxury designer handbag as a work laptop bag
• Claiming thousands of dollars in fuel costs without needing receipts.

CPA Australia tax lead, Jenny Wong, says, "In many cases the advice from these accounts is simply wrong. In other cases, the claims have an ounce of truth but would apply only to a very small group of workers.

"Some farmers may be able to claim expenses related to their sheep dogs, but the idea that a dog owner in a major city can claim expenses for a guard dog while they work from home is simply absurd."

According to Wong, the tax office uses data-driven profiles to identify which claims are realistic and which look like complete nonsense.

"Making false tax claims could result in hefty fines, a criminal record or even imprisonment," cautions Wong. "Arguing that you took advice from a finance influencer on TikTok won't cut it - your tax is your responsibility."

Parents demand more money management lessons

A survey by the Ecstra Foundation shows more than 90% of parents and teachers would like to see financial skills taught in our schools.

There's certainly a need for it.

Almost two in five (37%) children saying they have no, or very little, knowledge about money and finance.

Part of the problem is that less than one in two teachers feel confident teaching kids about money matters.

One in four parents admit to knowledge gaps.

That leaves 70% of children turning to social media to brush up their money skills.

The good news is there are plenty of freely available resources to help kids learn about money.

As a starting point, ask your bank what they offer.

NAB has an online financial literacy guide for kids.

CommBank offers Kit, a pocket money app parents and kids can use to learn about money.

Gateway Bank has Dollaroo's Den, a  kids' banking product that encourages saving and financial responsibility.

Most profitable towns for Airbnb

If you're in the market for an investment property to rent out for short term accommodation (think Airbnb or Stayz), beachside locations can seem like a no-brainer.

But big bucks can be earned in (relatively) affordable, inland areas.

Analytics company AirDNA has crunched the numbers, finding that Queensland's Whitsunday region tops the leaderboard of most profitable regions to own a short term rental.

However, two of the top five most profitable towns - Singleton and Cessnock, are located in the NSW Hunter Valley, a region better known for coal mines than white sandy beaches.

What the two townships have in common is nearby vineyards and reasonable proximity to Sydney, making them popular for weekend getaways.

As AirDNA notes, it's important to look at occupancy patterns throughout the year. Seasonal demand can impact revenue.

Also check local regulations, which can impact the viability of a short term rental property.

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