New coins honour Women's Weekly Children's Birthday Cake Book
Coins commemorate classic cake book, Optus slapped with $100 million fine, and the $30k tax deduction you don't want to miss. Here are five things you may have missed this week.
Invest in a slice of Aussie childhood
From the cake tin to the coin press, the Royal Australian Mint has issued a new range of collectible coins celebrating the Australian Women's Weekly Children's Birthday Cake Book.
The book, first published in the 1980s, has been a source of delight for children - and torment for parents, for 45 years.
My own kids used to thumb longingly through the book, plotting their next birthday cake, only to realise that Mummy, a devotee of White Wings packet mixes, simply wasn't up to the jelly-filled Swimming Pool cake, the Cuddly Koala, or the ultimate gastronomic challenge - the Choo Choo Train cake.
There are 10 individual $1 coins in cards available, or you can buy them all as a 10-coin collection, with a one in 10 chance of finding a Choo-Choo Train coin.
If you're not up to the cake challenge, the coins could make a great gift or collectible investment.
Head to the Royal Australian Mint website for details.
Optus fined $100 million
Optus Mobile has agreed to pay a $100 million penalty for unconscionable conduct.
It follows an investigation by consumer watchdog - the ACCC, which found Optus sold inappropriate, unwanted or unaffordable mobiles and phone plans to over 400 people who couldn't afford them, or couldn't even use the phones.
In some cases, sales staff pressured consumers to purchase a large number of products, including expensive phones and accessories.
Scant regard was given to whether the customers had Optus coverage where they lived, and some were led to believe the goods were free or included as part of a bundle at no extra cost.
Adding salt to the wound, Optus called in the debt collectors when customers couldn't pay their phone bills.
ACCC deputy chair Catriona Lowe has described Optus's behaviour as "simply unacceptable".
Optus CEO Stephen Rue says the misconduct was inexcusable and unacceptable, and the telco has begun compensating impacted customers.
The $30,000 tax deduction you don't want to miss
Time is running out to make a tax deductible super contribution.
Up to $30,000 worth of voluntary super contributions can be claimed on tax in the 2024-25 financial year though this includes your employer's compulsory contributions plus any salary sacrificed contributions.
If you have less than $500,000 in super, you may also be able to claim unused concessional caps from up to five previous years.
It makes the next few days the last chance to claim unused super caps from 2019-20, after this, they expire.
If you're aiming to make a personal super contribution it pays to get cracking.
Most super funds ask for contributions to be made by Thursday, June 26, so that payments can be processed by June 30.
To claim a tax deduction, you need to give your fund notice in an approved form (your fund should have this on its website) and get an acknowledgment back from the fund.
Vanguard analysis shows a 30-year-old who makes annual voluntary contributions of $1,000 to their super for 10 years could increase their balance by $60,947 by age 67.
First home buyers pile back into market as values are set to soar
This week saw NAB report a 16% surge in lending to first home buyers since February.
Yet a Finder report found almost half (45%) of first home buyers who purchased in the past year regret their decision, the most common regret being paying too much for the home.
That buyer's remorse may be short-lived.
Domain is forecasting house prices could soar by as much as $112,000 in Sydney next year, with prices expected to jump by at least 3% across all the mainland state capitals.
Why airfares out of the middle east just took off
Several middle east destinations including Dubai, Doha and Abu Dhabi are popular stopover points for Aussies heading overseas.
If you're planning to travel that way, be sure to have travel insurance - and maybe a bit of extra cash.
The Israel/Iran conflict is seeing airlines giving a wide berth to an area spanning Syria, Iraq and Iran.
This is adding time and fuel to flights, and Gulf News reports that flights from Dubai and Abu Dhabi to many parts of Asia, Europe, Africa and North America are now 15% to 60% more expensive than they were just days ago.
Dubai airline Emirates has warned that due to the "regional situation", it has temporarily suspended all flights to Jordan, Lebanon, Iran and Iraq.
Qatar Airways has cancelled flights to Iran, Iraq and Syria.
Etihad has suspended flights to Amman, Jordan and Tel Aviv, Israel.
Virgin Australia's wet leased Doha services, which launched this month, remain unaffected.
A Virgin Australia spokesperson says, "If for any reason a change is required, Virgin Australia and Qatar Airways will work together on identifying safe alternatives and will ensure guests remain well-informed of any impacts."
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