Editors Picks
05 February 2023
AFCA WELCOMES NEW SCAMS INITIATIVES
THE Australian Financial Complaints Authority (AFCA) has commended the recent banking initiatives aimed at combating scams.
AFCA's Chief Ombudsman and CEO, David Locke, said, "We see the devastating impact scams have on people and welcome any initiatives by banks to protect their customers, including the innovative use of technology.
The Commonwealth Bank of Australia recently introduced "NameCheck" technology for money transfers and caller verification via the CommBank app.
AFCA received an average of 400 scam-related complaints per month in the current financial year, which was up 28% from the previous year.
According to Mr. Locke, the sums involved in these scams are increasing and people are losing home deposits and retirement savings.
AFCA will continue to collaborate with industry, consumer groups, and regulators to reduce scam transactions.
05 February 2023
FUTURE OF AUSTRALIAN PROPERTY MARKET
SOCIAL commentator, Bernard Salt, recently spoke at an event hosted by real estate debt investment platform AltX about the future of property in Australia.
He noted that Australia is one of the wealthiest countries per capita and the country has a long history of being obsessed with property.
Mr Salt believes the resumption of immigration to pre-pandemic levels will increase demand in the property market over the next five years.
Additionally, middle-aged millennials and retiring baby boomers are expected to drive growth in lifestyle properties outside major cities.
He also believes that over the next ten years, millennials who are reaching their forties and starting families will prompt a move out of cities and into larger homes with backyards, resulting in a change to people's properties and towns/cities.
AltX provides wholesale investors access to private real estate debt investments and has a strong track record of consistent returns and a built-in contingencies to manage market corrections and worst-case scenarios.
01 February 2023
SURVEY REVEALS BUSINESSES PLANING GROWTH
A SURVEY by Small Business Loans Australia found that 48% of small-to-medium businesses in Australia plan to expand in 2023, despite the risk of recession.
The survey included 210 business owners and decision-makers across micro, small, medium and large businesses.
Businesses in Western Australia showed the most growth with 88% focusing on growth since 2019, followed by 86% in New South Wales. In 2023, the most confident about growth were businesses in the ACT, with 60% planning to focus on growth.
Micro businesses were the most positive about growth in 2023 with 50% planning to expand, compared to 48% of medium-sized businesses and 37% of small businesses.
Alon Rajik, founder of Small Business Loans Australia, said: “Despite the potential economic slowdown, SMEs will continue to be resilient and confident in their ability to weather tough economic periods.”
He advised businesses to make smart financial choices when expanding and to shop around for low interest rates and fees.
The full survey results can be found at https://smallbusinessloansaustralia.com/growth-in-recession/.
01 February 2023
NEW SERVICE CENTRE AT NORTH ROCKS
A NEW Service NSW Centre will open in North Rocks Shopping Centre, North Rocks, in mid-2023.
30 January 2023
FLOOD EVACUATION ROUTES IMPROVED
FLOOD evacuation routes near Richmond will be improved with $1B from the government's WestInvest program for Western Sydney roads. The upgrade includes $15M for a new roundabout and extra lane at The Driftway and Londonderry Road intersection. Works will start soon to ensure the community is not cut off during floods. Other projects include safety improvements on Elizabeth Drive, the Pitt Town bypass, and Garfield Road East upgrade. Visit https://nswroads.work/NewRichmondBridge for more details.
29 January 2023
TOP OF THE POPS FOR 2022 BABY NAMES
CHARLOTTE looks set to be the most popular girls’ name in NSW in 2022 while Oliver is the number one boys’ name for the eighth year running.
Attorney General Mark Speakman and Minister for Customer Service and Digital Government Victor Dominello revealed the current top 10 NSW baby names for 2022, as recorded by the NSW Registry of Births, Deaths and Marriages.
“Welcoming a baby into the family is a joyous time for parents and selecting a name is one of the most important decisions they’ll make. It’s always interesting to see which names are the most popular each year,” Mr Speakman said.
“After finishing third in 2021, Charlotte is well placed to finish top of the charts joining Oliver who has been the number one baby boys’ name in NSW since 2014,” Mr Speakman said.
“Amelia, Isla and Mia have also made the top 10 for several years running, along with Jack, Noah, and William.
“We welcome the state’s newest residents and congratulate all NSW families who brought a little bundle of joy into their home in 2022.”
Mr Dominello said that parents have the option of registering the birth of a child online or by post using a paper form.
“Registering your child’s birth establishes their legal identity in the community and is important in accessing government services such as Medicare. Parents have up to 60 days from the date of birth in which to submit a registration form,” Mr Dominello said.
“While not compulsory, the overwhelming majority of parents also order a paper birth certificate for their child at the time of birth. When the first of its kind NSW Digital Birth Certificate is launched later this year, families will also benefit from having secure access to their child’s identity documents anywhere, at any time.
“Congratulations to NSW families now enjoying parenthood, either welcoming their first child or expanding their family in 2023.”
Top 10 names for girls in 2022 Top 10 names for boys in 2022
1. Charlotte | Oliver
2. Amelia | Noah
3. Olivia | Leo
4. Isla | William
5. Mia | Theodore
6. Ava | Jack
7. Ella | Henry
8. Matilda | Luca
9. Sienna | Thomas
10. Chloe | Charlie
In 2022, 83,411 babies were registered in NSW, 6,648 fewer than in 2021. However, as parents have 60 days to register their newborn, babies who were born in December 2022 may yet to be registered.
The top 100 baby names in NSW will be revealed later this year.
25 January 2023
HELP FOR TRADIES WITH MENTAL HEALTH CONCERNS
TRADESPEOPLE in Western Sydney are facing a devastating epidemic of suicide, with rates among young tradesmen more than double that of other men.
CEO of TIACS (This Is A Conversation Starter), Keri Stephenson, said that those who work in trades and construction have some of the highest suicide rates in Australia amongst men.
TIACS is a free and confidential chat, text, and call-back service that provides early-intervention mental health support for Australia’s truckies, tradies, blue-collar workers, and those who care about them.
Through the support of partnerships with businesses such as TradeMutt, TIACS has supported over 12,000 clients and delivered over $2.15M worth of market services to the Australian blue-collar community free of charge.
TradeMutt, founded by Daniel Allen and Edward Ross, is a national social impact workwear brand that supports the health and well-being of tradies and other blue-collar workers across the country.
The company was founded after Daniel lost a close friend to suicide in 2015. TradeMutt creates eye-catching, colorful shirt designs that start conversations about mental health.
The company also created the concept of "Funky Shirt Friday" to give tradies a reason to wear their TradeMutt shirts to work, similar to what office workers do on casual Fridays. 50% of TradeMutt’s profits are donated directly to TIACS.
Visit: www.trademutt.com
