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Don't struggle with reading the fine print

If you’ve struggled to read fine print or mistakenly worn clothes inside out or back to front, you may be one of the 70 per cent of Australian adults who need to have their eyes checked.

New research from Galaxy has shown difficulty reading fine print is the most common problem with 51 per cent, followed by being unable to see the TV menu clearly (22 per cent) and having difficulty seeing while driving (21 per cent). However, one in four (24 per cent) are worried about the possibility of needing to wear glasses or contact lenses.

Tax on so-called 'super rich' could prove costly

By Chief Advocate Ian Henschke

In March the Labor Party announced a radical new policy. If elected it would close a “tax loophole” exploited by the rich.

It would reap $59 billion over 10 years by disallowing tax credits from Australian shares to be paid to people who had no income. Labor leader Bill Shorten said: “A small number of people will no longer receive a cash refund.”

One size does not fit all in retirement risk

National Seniors is concerned a proposed ‘one size fits all’ approach towards helping retirees better manage their financial risks in retirement may not suit everyone.

National Seniors last year made a submission to the federal Treasury, commenting on the initial proposal to develop regulation for new Comprehensive Income Products for Retirement (CIPRs). It is proposed super funds offer these products to help retirees better manage risks such as outliving their super.

Ambulance costs can be painful

If you don’t have private health insurance and need to call an emergency ambulance, you’ll likely have to pay a hefty fee that could leave you hundreds, if not thousands, of dollars out of pocket.

But National Seniors General Manager Insurance, Chris Grice, says there are ways to protect yourself from “ambulance bill shock”.

“If you live in Queensland or Tasmania, the good news is your state automatically covers you for emergency  pre-hospital ambulance treatment Australia-wide,” Mr Grice said.

Unannounced audits start on aged care homes

Australia’s 2,700 aged care homes are now subject to unannounced audits after new quality and safety compliance regulations came into force from Sunday, 1 July.

Aged Care Minister Ken Wyatt said aged care homes would no longer be given notice of the date of their re-accreditation audit.

“Audit teams will arrive at any time to monitor and ensure the provision of safe, quality care 365 days of the year,” Mr Wyatt said.

“This is about certainty and confidence for older Australians and families whose loved ones are receiving care.

Applications open for aged care funding round

Aged care homes in rural, regional and remote areas will be the focus of the federal government’s latest funding round.

Announcing the opening the 2018-19 Aged Care Approvals Round (ACAR) on Sunday, 1 July, Aged Care Minister Ken Wyatt said the offering of 14,200 new aged care places was 35 per cent  more than the previous round.

Mr Wyatt said improved access to residential aged care in regional, rural and remote areas was aimed at encouraging older people to continue to live in the communities they knew and loved.

Australians distrust social media

A new survey shows Australians distrust social media more than any other media category.

Conducted in May by Roy Morgan, the Media Net Trust Score Survey (NTS) revealed social media is deeply distrusted in Australia, with Facebook by far the most distrusted media brand.

Nearly half of all Australians (47 per cent) distrust social media, compared to only four per cent who distrust, for example, magazines.

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Women still lagging in super

New research shows the average superannuation balances of intending retirees over the past decade for both men and women have more than doubled, but females remain well behind the male average.

The latest results from Roy Morgan Research’s Single Source Survey show the average superannuation held by women intending to retire in the next 12 months is $177,000, or equal to only 57.3 per cent of the male average ($309,000). An estimated 392,000 people intend to retire in the next 12 months.

$18m registry to fast-track dementia research

Dementia Australia has welcomed the announcement of the Australian Dementia Network (ADNet), a registry and research program to accelerate dementia research in Australia.

Dementia Australia’s Maree McCabe said Australian researchers, Dementia Australia and people impacted by dementia have long held a vision for an integrated registry of researchers, studies, information, data and clinicians to ensure more targeted, effective research.

“The Federal Government’s commitment of $18 million will make this vision a reality,” Ms McCabe said.

Online purchases from overseas now dearer

Online shopping from overseas stores is likely to become more expensive for Australian consumers after the introduction of 10 per cent GST on goods worth less than $1000 from 1 July.

New research by online comparison website finder.com.au research shows 73 per cent of Australians – equivalent to 14 million people – shop from overseas retailers, having made a purchase under $1,000 from an international store in the past two years.

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