How Sydney drivers can claim hundreds back on tolls

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Toll relief for Sydney motorists, one in three plan to save tax cuts, and Australia's cheapest Aussie share ETF launches. Here are five things you may have missed this week.

For NSW motorists the end of the financial year doesn't just mean a possible tax refund, it can also bring a welcome toll rebate.

Two options are available.

toll rebates for sydney drivers

Drivers who spend more than $402 annually on a personal toll account, may be eligible for a 40% toll rebate worth up to $802.

If you're racking up seriously big toll bills - at least $60 a week - you may be eligible for the Weekly Toll Cap, with a maximum rebate of $340 per week.

Head to the Services NSW website for details. Drivers have until June 30, 2025 to claim a rebate, but why wait?

These types of rebates aren't found in other states.

Queensland has the Go Between Bridge toll credit scheme. But it's only worth a maximum of $100, and it ends in mid-June.

However, motorists in other states needn't feel envious.

Sydney has more toll roads than any other state capital, and they cost the city's motorists $2.5 billion each year.

While 87% of Sydney drivers say tolls are too high, Transurban shareholders are unlikely to complain.

The company, which owns Linkt, is the dominant player in Sydney's toll roads.

Transurban reported toll revenue of $1,763 million in its 2024 half-yearly report though not all of this came from Sydney roads.

One in three plan to save tax cuts

We're a month out from Stage 3 tax cuts, but already Aussies are deciding how they'll use the extra cash.

NAB found over one in four (29%) of us will use the additional disposable income - expected to average around $1888 annually - to manage higher living costs.

More than a third are planning to stash the cash into a high interest savings account.

Fewer than one in 10 taxpayers expect to use the tax savings for retail therapy.

Paul Riley, NAB Personal Banking Executive, says "Australians continue to prove they're more engaged with their finances than they have been for a long time, and it's clear most are going to use this extra money to get ahead."

To know how much extra to expect in your pay packet, head to the newly launched Tax Cuts website.

Macquarie launches 0.03% fee ETF

This week saw yet another Aussie share-based ETF hit the ASX.

It's a competitive market, with more than 60 funds focusing on various Australian share indices.

The most recent addition, the Macquarie Core Australian Equity Active ETF (ticker code MQAE), aims to beat the S&P/ASX 300 Accumulation Index.

Nothing unusual about that.

What sets this ETF apart is the almost microscopic fee of 0.03%, making MQAE the cheapest listed Aussie share fund.

But there is a twist.

MQAE comes with a hefty 20% performance fee though this only applies if the fund beats the benchmark.

Solar panel households slugged to export power to grid

Kermit the Frog was definitely onto something when he said it isn't easy being green.

It's not always a money saver either.

From 1 July, Ausgrid customers with rooftop solar panels will be slugged 1.2 cents per kilowatt hour for electricity exported to the grid between 10am and 3pm above a free threshold that varies by month.

Between the peak demand times of 4pm to 9pm, Ausgrid will pay 2.3 cents per hour for solar power exported to the grid.

While Ausgrid says the 2-way tariff could see a typical 5 kW solar customer face a bill hike of just $6.60 annually, it's not much of a reward for installing solar panels.

The average cost of solar panels is around $5796, according to a Canstar Blue, with an extra $1500 on top for installation.

Ausgrid chiefly serves the Sydney, Central Coast, and Hunter Valley markets.

Revealed: Australia's most popular suburb for home buyers

Millions of Australians click on online property listings each month.

Some of us are tyre kickers (who hasn't had a virtual peak inside homes way beyond our budget?).

But plenty are genuine buyers.

And affordability is fast outweighing the wannabe factor when it comes to trawling homes listed for sale.

According to PropTrack, the suburbs that once attracted the most views per listing - Toorak in Melbourne, and Mosman in Sydney, are being trumped by more affordable locations.

Eight of the 10 most viewed suburbs for April are in Adelaide, with Torrens Park topping the list of locations.

The two remaining suburbs outside Adelaide were Springfield on the NSW Central Coast, and Middle Park in Melbourne.

suburbs with the highest average views per listing

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A former Chartered Accountant, Nicola Field has been a regular contributor to Money for 20 years, and writes on personal finance issues for some of Australia's largest financial institutions. She is the author of Investing in Your Child's Future and Baby or Bust, and has collaborated with Paul Clitheroe on a variety of projects including radio scripts, newspaper columns, and several books.
Comments
Mike Short
May 18, 2024 9.41am

I can vouch for the appeal of Adelaide. Relocated here from an East Coast capital. Best move ever! Comfortable size city with great facilities,easy to get around, world class beaches and wine regions on your doorstep. Great community feeling. Any one who knocks it has never been here.