How one simple switch can supercharge your super
We're often encouraged to put money into superannuation, but contributions aren't the only thing that can help set you up for a comfortable retirement.
In fact, says Peter Hogg, general manager of guidance & advice at Aware Super, 'as much as 50 per cent of your super balance at retirement may be determined by your investment returns'.
Those investment returns come down, in large part, to the portfolio type you select.
Because whether you know it or not, every Australian's super is placed in an investment strategy that's typically either conservative, balanced or higher risk, often known as 'high growth'.
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Higher-risk strategies are more susceptible to market fluctuations but yield a better return in the long term.
Conservative or balanced are less exposed to that short-term risk, but typically won't make as much money over multiple decades.
And done right, choosing that high-risk strategy – especially when you're younger – can make a huge difference down the line.
'Obviously, contributing to super is great and really important as well,' says Hogg.
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The Advertiser
5 hours ago
- The Advertiser
Biosecurity not competition a meaty issue in beef talks
Even if the federal government lowers barriers blocking imports of US beef, it would be no match for higher quality and cheaper to produce Australian cattle. Australia is considering granting more American beef producers access to the local market as a potential bargaining chip to strike a deal on tariffs, as the two nations' leaders prepare to potentially meet face-to-face for the first time. For biosecurity reasons, Australia imposes a soft ban on US beef. Cattle that can be proven to have been raised and slaughtered in the US are allowed into the Australian market, but large amounts of beef sent to American abattoirs come from Mexico or Canada, which are barred from importation. Challenges in tracing the origin of cattle means in practice beef imports are not allowed, until the US can show the same traceability systems Australia has in place. Australian beef producers urged the government not to loosen biosecurity protections. "Australia's biosecurity status is integral to the success and sustainability of our agricultural industries," National Farmers Federation president David Jochinke said. Prime Minister Anthony Albanese assured farmers the government would make no compromises on biosecurity. But as long as biosecurity was protected, Mr Albanese said he would be open to discussions about easing restrictions. David Humphreys, vice chair of industry body Western Beef Association, was open to the idea as well. As long as Australia's biosecurity standards were protected, it would be a beneficial outcome for all Australian farmers if it could be used as leverage to lower US tariffs, he said. Assuming US beef imports posed no disease risk, the impacts for Australian farmers from extra competition would be limited. "Australia has very competitive and relatively cheap beef production in comparison," Mr Humphreys told AAP. "Any beef that's coming in from the US is probably going to be targeting quite select segments of beef consumption, probably the cheaper cuts, produced beef products. "So it's not really competing with the premium Australian beef products that our beef farms produce." The low exchange rate of the Australian dollar as well as the high cost of transporting US beef also reduced the likelihood of it outcompeting homegrown products, he said. Local consumers are accustomed to leaner, higher-quality Australian beef and unlikely to be won over by fatty, hormone-injected American competitors. "I think there's not a lot of risk to Australian producers of beef, with this possibility of some limited US beef being imported into Australia," Mr Humphreys said. Australia's Department of Agriculture is reviewing its ban on Mexican and Canadian beef slaughtered in the US. Agriculture Minister Julie Collins said any decision to allow greater access for US beef would be based on science and evidence. Even if the federal government lowers barriers blocking imports of US beef, it would be no match for higher quality and cheaper to produce Australian cattle. Australia is considering granting more American beef producers access to the local market as a potential bargaining chip to strike a deal on tariffs, as the two nations' leaders prepare to potentially meet face-to-face for the first time. For biosecurity reasons, Australia imposes a soft ban on US beef. Cattle that can be proven to have been raised and slaughtered in the US are allowed into the Australian market, but large amounts of beef sent to American abattoirs come from Mexico or Canada, which are barred from importation. Challenges in tracing the origin of cattle means in practice beef imports are not allowed, until the US can show the same traceability systems Australia has in place. Australian beef producers urged the government not to loosen biosecurity protections. "Australia's biosecurity status is integral to the success and sustainability of our agricultural industries," National Farmers Federation president David Jochinke said. Prime Minister Anthony Albanese assured farmers the government would make no compromises on biosecurity. But as long as biosecurity was protected, Mr Albanese said he would be open to discussions about easing restrictions. David Humphreys, vice chair of industry body Western Beef Association, was open to the idea as well. As long as Australia's biosecurity standards were protected, it would be a beneficial outcome for all Australian farmers if it could be used as leverage to lower US tariffs, he said. Assuming US beef imports posed no disease risk, the impacts for Australian farmers from extra competition would be limited. "Australia has very competitive and relatively cheap beef production in comparison," Mr Humphreys told AAP. "Any beef that's coming in from the US is probably going to be targeting quite select segments of beef consumption, probably the cheaper cuts, produced beef products. "So it's not really competing with the premium Australian beef products that our beef farms produce." The low exchange rate of the Australian dollar as well as the high cost of transporting US beef also reduced the likelihood of it outcompeting homegrown products, he said. Local consumers are accustomed to leaner, higher-quality Australian beef and unlikely to be won over by fatty, hormone-injected American competitors. "I think there's not a lot of risk to Australian producers of beef, with this possibility of some limited US beef being imported into Australia," Mr Humphreys said. Australia's Department of Agriculture is reviewing its ban on Mexican and Canadian beef slaughtered in the US. Agriculture Minister Julie Collins said any decision to allow greater access for US beef would be based on science and evidence. Even if the federal government lowers barriers blocking imports of US beef, it would be no match for higher quality and cheaper to produce Australian cattle. Australia is considering granting more American beef producers access to the local market as a potential bargaining chip to strike a deal on tariffs, as the two nations' leaders prepare to potentially meet face-to-face for the first time. For biosecurity reasons, Australia imposes a soft ban on US beef. Cattle that can be proven to have been raised and slaughtered in the US are allowed into the Australian market, but large amounts of beef sent to American abattoirs come from Mexico or Canada, which are barred from importation. Challenges in tracing the origin of cattle means in practice beef imports are not allowed, until the US can show the same traceability systems Australia has in place. Australian beef producers urged the government not to loosen biosecurity protections. "Australia's biosecurity status is integral to the success and sustainability of our agricultural industries," National Farmers Federation president David Jochinke said. Prime Minister Anthony Albanese assured farmers the government would make no compromises on biosecurity. But as long as biosecurity was protected, Mr Albanese said he would be open to discussions about easing restrictions. David Humphreys, vice chair of industry body Western Beef Association, was open to the idea as well. As long as Australia's biosecurity standards were protected, it would be a beneficial outcome for all Australian farmers if it could be used as leverage to lower US tariffs, he said. Assuming US beef imports posed no disease risk, the impacts for Australian farmers from extra competition would be limited. "Australia has very competitive and relatively cheap beef production in comparison," Mr Humphreys told AAP. "Any beef that's coming in from the US is probably going to be targeting quite select segments of beef consumption, probably the cheaper cuts, produced beef products. "So it's not really competing with the premium Australian beef products that our beef farms produce." The low exchange rate of the Australian dollar as well as the high cost of transporting US beef also reduced the likelihood of it outcompeting homegrown products, he said. Local consumers are accustomed to leaner, higher-quality Australian beef and unlikely to be won over by fatty, hormone-injected American competitors. "I think there's not a lot of risk to Australian producers of beef, with this possibility of some limited US beef being imported into Australia," Mr Humphreys said. Australia's Department of Agriculture is reviewing its ban on Mexican and Canadian beef slaughtered in the US. Agriculture Minister Julie Collins said any decision to allow greater access for US beef would be based on science and evidence. Even if the federal government lowers barriers blocking imports of US beef, it would be no match for higher quality and cheaper to produce Australian cattle. Australia is considering granting more American beef producers access to the local market as a potential bargaining chip to strike a deal on tariffs, as the two nations' leaders prepare to potentially meet face-to-face for the first time. For biosecurity reasons, Australia imposes a soft ban on US beef. Cattle that can be proven to have been raised and slaughtered in the US are allowed into the Australian market, but large amounts of beef sent to American abattoirs come from Mexico or Canada, which are barred from importation. Challenges in tracing the origin of cattle means in practice beef imports are not allowed, until the US can show the same traceability systems Australia has in place. Australian beef producers urged the government not to loosen biosecurity protections. "Australia's biosecurity status is integral to the success and sustainability of our agricultural industries," National Farmers Federation president David Jochinke said. Prime Minister Anthony Albanese assured farmers the government would make no compromises on biosecurity. But as long as biosecurity was protected, Mr Albanese said he would be open to discussions about easing restrictions. David Humphreys, vice chair of industry body Western Beef Association, was open to the idea as well. As long as Australia's biosecurity standards were protected, it would be a beneficial outcome for all Australian farmers if it could be used as leverage to lower US tariffs, he said. Assuming US beef imports posed no disease risk, the impacts for Australian farmers from extra competition would be limited. "Australia has very competitive and relatively cheap beef production in comparison," Mr Humphreys told AAP. "Any beef that's coming in from the US is probably going to be targeting quite select segments of beef consumption, probably the cheaper cuts, produced beef products. "So it's not really competing with the premium Australian beef products that our beef farms produce." The low exchange rate of the Australian dollar as well as the high cost of transporting US beef also reduced the likelihood of it outcompeting homegrown products, he said. Local consumers are accustomed to leaner, higher-quality Australian beef and unlikely to be won over by fatty, hormone-injected American competitors. "I think there's not a lot of risk to Australian producers of beef, with this possibility of some limited US beef being imported into Australia," Mr Humphreys said. Australia's Department of Agriculture is reviewing its ban on Mexican and Canadian beef slaughtered in the US. Agriculture Minister Julie Collins said any decision to allow greater access for US beef would be based on science and evidence.
Sky News AU
8 hours ago
- Sky News AU
‘Whitlam-esque': Zoe McKenzie blasts Labor's divisive tax hike on super accounts, slams Tasmanian opposition for triggering early election
Victorian Liberal MP Zoe McKenzie has lambasted Labor for continuing to advance its plan to hike taxes on superannuation accounts and impose levies on unrealised gains whilst hammering the Tasmanian opposition for sending punters to a winter election. Labor's plan to raise taxes on superannuation accounts over $3 million to 30 per cent and to target unrealised capital gains has sent shockwaves throughout the political and business arena, with financial doyens accusing the government of discarding decades of precedent. The Coalition was previously in talks with the Albanese government to revise certain elements of the legislation, chiefly the concept of taxing unrealised gains, however shadow Treasurer Ted O'Brien officially confirmed on Thursday the LNP would oppose the bill. Yet, former Reserve Bank board members Donald McGauchie and Roger Corbett, in addition to a litany of major Liberal Party donors, have pressed the Coalition to remain at the negotiating table and to secure what it deems crucial exemptions for illiquid assets including farms and small businesses. Ms McKenzie, an outspoken moderate who holds one of the Liberal's last outer-suburban seats, railed against the policy, but did not address if the Coalition would resume talks with Labor to modify the legislation. 'I think this is a terrible piece of policy and a terrible precedent for the future, Labor is effectively saying that they will tax money in your pocket, and you do not yet have this money,' she told Sky News on Saturday. The Member for Flinders echoed criticism from industry magnates in relation to the controversial concept of taxing unrealised gains, stating, 'you may have it in the future, you may not have it in the future, but you will be taxed on it'. 'You may incur a loss in the figure, and you won't get that tax back and that's the principle that we must fight here, because once it's started, it could go anywhere,' indicating that the tax could be extended to a range of other assets including real estate and stocks. 'This is a devilish tax and should be fought by the Coalition parties most stridently, this government is very good at speaking liberal-light in terms of their economic narrative, but it is utterly Whitlam-esque in terms of its impact on the Australian economy'. While the Coalition has vowed to fight the legislation, the bill is expected to pass both houses of parliament unopposed, with the Greens joining with Labor in the Senate despite lobbying for the policy to be levied on those with super accounts over $2 million. 'The point is they're going after money no one yet has, these are paper profits, these are family businesses, these are farms held in super funds that people may well have to liquidate just to pass a putative profit that may not exist when finally realised in years to come," Ms McKenzie said. 'They will need the Greens support in the Senate and as you know, the Greens are pushing to lower that threshold from three million to two million. So, it gives the Australian people a very clear indication of what might happen when Labor and the Greens run the show for the next three years'. The shadow assistant minister then turned her attention to the ongoing political chaos in Tasmania. Liberal Premier Jeremy Rockliff lost a no-confidence motion in parliament on Thursday, with the speaker casting the deciding vote, resulting in the state heading to it's second election in as little as 14 months. Ms McKenzie savaged Tasmanian Labor leader Dean Winter for sending the state to a snap winter poll and argued the opposition parties had collectively torpedoed a popularly elected government. 'I think the Tasmanian people would be very disappointed with what's happened this week, basically holding an elected government hostage, so it looks like they will be going back to a mid-winter election. We've all done them and they're horrendous," she said. 'I'm sure the people of Tasmania will not be grateful for being dragged back to the polls so soon after a federal election and indeed just 14 months after a state election." Tasmanians will have to wait until next Tuesday to find out when they will return to the polls, with the parliament scrambling to draft emergency legislation to fund government services of which are due to be tabled on the same day. Independent MPs including Craig Garland have called on the beleaguered Premier to resign, with Mr Rockliff guaranteeing he would not sell off state-owned assets to pay down debt if he won the election, of which served as a key factor in sparking the political row.
The Age
16 hours ago
- The Age
‘Tactful disharmony': An interior designer's offbeat path to success
This story is part of the June 7 edition of Good Weekend. See all 14 stories. Tamsin Johnson is perched on a white sofa, sipping ginger and lemongrass tea beneath a 19th-century French crystal chandelier in her Darling Point home in Sydney's east. Before her, roses nestle in a vase on a marble coffee table next to a pair of oak armchairs by Frank Lloyd Wright. Looming behind, a large religious icon, painted by the Indigenous-Australian artist Dan Boyd, is half obscured by an antique console laden with coffee-table books with titles like Equestrian Life in the Hamptons and Haute Bohemians: Greece. Every detail in the room is a quiet signifier of cultural erudition and taste. Indeed, there's so much to admire, the harbour view feels like a distraction. At 40, Johnson has become one of Australia's most sought-after interior designers. Locally, her work ranges from the Byron Bay hotel, Raes on Wategos, to the Bondi store of jewellery designer Lucy Folk, while international jobs include a Dubai members club and Frank Sinatra's former Hollywood office. In 2021, publisher Rizzoli New York released her first book, Tamsin Johnson: Spaces for Living, while a second is now in the works. 'Tamsin is a true artist,' says Nick Smart, the fragrance entrepreneur behind the Libertine Parfumerie boutiques. He enlisted her to design his Paddington flagship store, which includes parquetry flooring and antique marble basins from France. The cost of decorating the 200-square-metre space exceeded $1 million, but Smart is keen to use Johnson again. 'People emulate Tamsin's style, but they don't make it look good,' he says. 'She puts together pieces from different eras in a breathtaking way.' 'Tactful disharmony' is how Johnson describes her mix-and-match approach. 'It's about finding the balance of elements that might not have necessarily worked together – the old and the new, the pristine and the slightly messy, the weird and the super polished.' She points above her fireplace to a contemporary mirror whose jagged edges counter the curves of an antique bronze nude. Similarly, offbeat notes pepper Johnson's own look. Tall and slender in a floaty, pinstripe shirt and cream slacks, she sports a jumble of accessories, including a Jaeger-LeCoultre Reverso watch in burgundy, a diamond tennis bracelet, and a mishmash of rings that includes vintage sapphires and a dark-green bloodstone. Her husband, Patrick Johnson, is also a tastemaker. In 2009, the 44-year-old launched his P. Johnson tailoring brand that today also encompasses womenswear, and has expanded to 10 shops as far afield as London and New York. The couple have two children, Arthur, 8, and Bunny, 7, but parenthood hasn't curbed their panache. Damien Woolnough, fashion editor of The Sydney Morning Herald and The Age, believes the pair's aspirational image – the holidays in Tuscany, the artworks, the clothes – feeds into P. Johnson's appeal. 'You so want to be them, and that lifestyle justifies the price as much as the cut and fabrics.' In one showroom, an antique chandelier beams onto a portrait of André the Giant. Johnson decorates her husband's showrooms to evoke a refined but playful mood of relaxed hospitality. In the Windsor location in Melbourne, for example, an antique chandelier beams onto a portrait of the late pro wrestler, André the Giant. 'I never wanted spaces that were all old wood and leather, like a traditional English tailoring shop,' Patrick says. 'I wanted the interiors to be an extension of our lives and the things we found beautiful. I wanted people to feel like they're coming into our home.' Johnson's eye for an art-deco sideboard also started at home. Her parents, Edward and Peta Clark, were successful antique dealers, and she grew up in Melbourne playing beneath Louis XV sofas and Venetian gilt mirrors. Her father's big break had come in 1974, when he negotiated a huge sale from the Maharajah of Mysore that included a lavish collection of royal carriages. 'I made a few bob and I've lived on that ever since, really,' Clark admits. The proceeds bought the family's former home, the converted Golden Crust bakery in Armadale, that Domain describes as one of 'Melbourne's truly great homes'. From a young age, Johnson and her sister Tess accompanied their parents on buying trips to Paris markets and Rome galleries. 'Subconsciously, I was learning, not just about furniture and antiques, but about selling as well,' Johnson reflects. She instinctively mastered the latter. When she was eight, her father recalls taking her to Camberwell market, where Johnson bought a gold bracelet for $5. 'An hour later, she resold it from my stall to a lady for $15.' Lauren Kozica, a high-school friend from Wesley College, remembers Johnson constantly hurling herself into extracurricular projects. 'Tamsin's always had the energy and stamina most people search for in a tablet.' As a teen, Johnson took sewing classes and began tie-dying petticoats and making her own clothes. By 18, she'd sold a line of beaded necklaces to Scanlan Theodore. That early win encouraged her to study fashion at RMIT; she then clinched an internship in London at Stella McCartney. After-wards, Johnson got a job with a London PR firm and during that period, she met her future husband in a pub. 'She just radiated this energy, this brightness,' Patrick says of his first impression. Raised on a 4000-hectare farm north of Adelaide, Patrick had already been in London for six years and was working for Robert Emmett, a high-end shirtmaker on Jermyn Street. Tamsin, meanwhile, was turning away from fashion. Recognising her sartorial taste would never be sufficiently edgy to stand out, she enrolled in a course at Inchbald School of Design in Chelsea: 'The minute I walked in, I was like: 'This is absolutely my field.' ' In 2009, the pair returned to Australia. While Patrick set up his tailoring business, Johnson got an interior design job at Sydney practice, Meacham Nockles McQualter. 'When Tam arrived she was well-travelled, with a broad knowledge of the history of art, design and architecture, which enabled her to develop designs with a distinctive language,' says her former boss, Don McQualter. Johnson credits her four-year stint with teaching her the fundamentals of her profession. But in 2013, she resigned to go out on her own. 'It wasn't a surprise,' says McQualter. Loading Her first job as a sole practitioner was with one of Patrick's tailoring clients, and in a business where social cachet matters, it proved to be heaven-sent. The Bondi home belonged to James Packer. Johnson turned the opportunity into a springboard. Her three-women team currently has 20 jobs on the go that range from overhauling a seven-bedroom home in Vaucluse to fitting new wardrobes in a child's bedroom. Johnson also runs a Paddington antiques shop that she opened in 2015. Each year she trawls the antique fairs in France, Italy and Spain for stock, shipping back five 12-metre-long containers laden with new (old) treasures. Sitting with her, I get the same pang of unease you get from too much Instagram, when you inadvertently compare your own reality to glimpses of the unattainable. It's not just her jet-set lifestyle. My kids are the same age as Johnson's, and we've twice had to get our sofa reupholstered due to peanut-butter stains and worse. How is her white sofa so pristine? 'We've always made sure the covers can be slipped off and cleaned,' she shrugs. What about the juggle of raising two children while running an internationally successful business? The family has help on Mondays and Tuesdays, when a nanny collects the kids from school, but Johnson admits to being pathologically efficient: 'If I've got something on my to-do list, I need to get it done. On holidays, I'll write an itinerary that Patch [Patrick] jokes is down to the minute.' As if to validate her working-mum credentials, Johnson's phone rings. It's her daughter's school: Bunny has a tummy-ache and needs collecting. Apologising, Johnson dashes out, urging me to finish my tea and try a piece of shortbread. Cut into heart shapes, even her biscuits are charmingly photogenic. Loading A week later, we chat on the phone. Johnson is driving to Melbourne Airport after seeing clients in the Otways who want an American ranch-style interior. I'm curious to know what her next chapter holds. She's already living the dream: where does she go from here? 'I've got a small, personal business and that's the way I like it,' she insists. 'I'm not trying to set up an office in London or New York. I like that we can still deliver amazing outcomes for clients that are super personal. Also, I want to raise my own kids.' She mentions how her signet ring, a gift from Patrick, is engraved with a turtle. 'I think it was to remind me to slow down.' Suddenly, I'm reminded of a recurring detail from her house. Beside the Bill Henson in the hallway, on the antique Spanish dining table, by the custom-made sofa, there were vases of mixed roses everywhere. Are they a visual cue, like that ring – a literal reminder to stop and smell the roses? 'Well, they are my favourites,' Johnson laughs. 'But maybe subconsciously, yeah.'
