Star Weighs Last-Minute $157 Million Capital Offer From Bally's
Star Entertainment Group Ltd. is considering a last-minute recapitalization proposal from Bally's Corp. that could potentially hand over control of the company to the US casino group.
Under the terms of the offer, Bally's would provide fresh capital of at least A$250 million ($157 million), Star said Monday, after details of the offer appeared in the Australian newspaper. Star would issue notes that would be convertible into at least 50.1% of the company, according to the proposal.
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Yahoo
an hour ago
- Yahoo
'Powerful' superannuation trick to save $150,000 in tax: 'Don't know until it's too late'
If you inherit your parents' superannuation fund, there's a good chance you'll lose a big chunk of it to the ATO in tax. In some cases, this tax can be up to 30 per cent of their hard-earned retirement savings, which can have a big impact on how much is left over for your family. This is a tax that most people don't understand, or even know exists, until it's too late. The rules are a little technical and complicated, but this tax is completely avoidable if you get the right strategies in place early. If you're a parent wanting to leave money to your family, or someone likely to receive an inheritance that doesn't want to donate more to the ATO unnecessarily, the super inheritance tax rules are something you should be aware of. $1 million superannuation retirement myth busted Major RBA interest rate call set to give homeowners $250 per month win $400 cash boost available for thousands of Aussies in new energy rebate In Australia, super inheritance payments don't automatically pass to your family tax-free. There's often a hidden tax that's applied when your super money is passed down to a 'non-dependent', which includes most adult children. Under the laws that apply to super death benefit payments, a 'dependent' includes your spouse or partner, children under the age of 18, or someone who is financially dependent on you. The good news here is that a dependent can inherit super tax-free. Non-dependents include adult children, parents, siblings, or anyone else who isn't financially dependent on you. This is where the super death benefits tax of up to 30 per cent kicks in, and when the ATO will come knocking for their slice of your gets a little complicated, but essentially your super fund is made up of different 'components' based on how the money has come into your super fund. These components are referred to as 'taxable (untaxed)', 'taxable (taxed)', and 'tax-free', and each different component is treated slightly differently when it comes to super death benefits tax: Taxable (untaxed) is taxed at 30 per cent when paid to a non-dependent Taxable (taxed) is taxed at a rate of 15 per cent when paid to a non-dependent Tax-free is able to be received tax free, even by non-dependents The biggest component of most people's super funds is the 'taxable (taxed)' element, because this component is made up of any compulsory employer super contributions, salary sacrifice or tax deductible contributions, and all of the growth and earnings on these funds inside your super fund. This means if you inherit a $1 million super benefit, you're likely to pay tax of around $150,000 - money that could have stayed in your family. The good news here is that this tax can be significantly reduced, or eliminated altogether with a simple strategy. It's called the 'withdrawal and recontribution' strategy, and it's one of the most powerful (and underrated) strategies in Australian financial planning. This strategy will give some tax benefits to your parents while they're drawing an income from their super, but also goes a long way to cutting out the super death benefits tax. This strategy works once your parent is over the age of 60, and has met a condition of release (like retirement) they can withdraw part of all of their super, completely tax-free. To put this strategy into place, you withdraw super money and then put the same money back into your super fund as an after tax, 'non-concessional' contribution. When the non-concessional contribution goes back into your super fund, no tax applies on the way into the super fund - but more importantly, the money goes into the 'tax free' component of your super. This means that when the money is eventually inherited, no super death benefits tax applies. In this case it's essentially a simple swap. You take taxable money out of super, and put tax-free money back in. The key here is doing this while your parents are still around and while they're eligible to be making super contributions. It's worth noting that the rules around withdrawing and contributing to your super fund, as well as how much you can put in and when are complicated. If you're thinking about putting this strategy into place, it's crucial you get some quality advice from a professional. Over the next two decades, Australia is going to see the biggest intergenerational wealth transfer in our history, with billions of dollars moving from one generation to the next. Most of this money will be transferred via superannuation and property assets. Without the right strategies in place, a bigger piece of your inheritance pie will be taken up with tax. And while this is important at some level, if you want to maximise the wealth that's actually retained within your family, you don't want the tax to be any bigger than it needs to be. If your parents have super and they're planning on passing this on to adult children or other non-dependents, don't wait until it's too late to understand this tax and how to manage it. If you don't, you could be looking at a six-figure hit to your inheritance, and worse - knowing it could have all been avoided through some conversations and smart planning. Ben Nash is a finance expert commentator, podcaster, financial adviser and founder of Pivot Wealth. Ben's new book, Virgin Millionaire; the step-by-step guide to your first million and beyond is out now on Amazon | Audiobook. If you want some help with your money and investing, you can book a call with Pivot Wealth here. Disclaimer: The information contained in this article is general in nature and does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it, and where appropriate, seek professional advice from a finance in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
an hour ago
- Yahoo
ASX Value Stock Picks Including Lynas Rare Earths For Estimated Growth
As the ASX200 flirts with record highs, investor sentiment in Australia is cautiously optimistic, buoyed by potential trade deals and corporate activities like mergers and acquisitions. In such a climate, identifying undervalued stocks becomes crucial for investors looking to capitalize on market opportunities; companies with strong fundamentals and growth potential can offer promising prospects even amidst fluctuating sector performances. Name Current Price Fair Value (Est) Discount (Est) Superloop (ASX:SLC) A$2.85 A$4.92 42.1% Ridley (ASX:RIC) A$2.86 A$5.64 49.3% Praemium (ASX:PPS) A$0.685 A$1.16 40.8% Polymetals Resources (ASX:POL) A$0.825 A$1.54 46.3% PointsBet Holdings (ASX:PBH) A$1.195 A$2.05 41.8% Nuix (ASX:NXL) A$2.35 A$4.04 41.8% Nanosonics (ASX:NAN) A$4.35 A$6.92 37.1% Fenix Resources (ASX:FEX) A$0.285 A$0.47 38.9% Charter Hall Group (ASX:CHC) A$19.35 A$33.88 42.9% Capricorn Metals (ASX:CMM) A$9.12 A$14.62 37.6% Click here to see the full list of 32 stocks from our Undervalued ASX Stocks Based On Cash Flows screener. Underneath we present a selection of stocks filtered out by our screen. Overview: Lynas Rare Earths Limited operates in the exploration, development, mining, extraction, and processing of rare earth minerals in Australia and Malaysia with a market capitalization of A$8.04 billion. Operations: The company generates revenue primarily from its rare earth operations, amounting to A$482.82 million. Estimated Discount To Fair Value: 36.5% Lynas Rare Earths is trading at A$8.6, significantly below its estimated fair value of A$13.55, suggesting it may be undervalued based on discounted cash flow analysis. Despite a decline in profit margins from 33.2% to 10.5%, the company is expected to experience substantial earnings growth of over 61% annually, with revenue projected to grow at 38% per year, outpacing the broader Australian market's growth expectations. Our growth report here indicates Lynas Rare Earths may be poised for an improving outlook. Unlock comprehensive insights into our analysis of Lynas Rare Earths stock in this financial health report. Overview: Nanosonics Limited is a global infection prevention company with a market cap of A$1.32 billion. Operations: The company's revenue is primarily derived from its Healthcare Equipment segment, totaling A$183.97 million. 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Estimated Discount To Fair Value: 49.3% Ridley, trading at A$2.86, is priced below its estimated fair value of A$5.64, indicating potential undervaluation based on discounted cash flow analysis. Recent equity and fixed-income offerings might impact shareholder value in the short term. While revenue is expected to grow robustly at 20.7% annually, earnings growth of 16.6% per year surpasses the Australian market average but remains moderate compared to significant benchmarks. The company's dividend history is unstable, and return on equity forecasts are modest at 14.4%. Our expertly prepared growth report on Ridley implies its future financial outlook may be stronger than recent results. Click to explore a detailed breakdown of our findings in Ridley's balance sheet health report. Navigate through the entire inventory of 32 Undervalued ASX Stocks Based On Cash Flows here. Have a stake in these businesses? Integrate your holdings into Simply Wall St's portfolio for notifications and detailed stock reports. Enhance your investing ability with the Simply Wall St app and enjoy free access to essential market intelligence spanning every continent. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ASX:LYC ASX:NAN and ASX:RIC. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
3 hours ago
- Miami Herald
Heat interested in Durant for a fourth time: Where things stand as Suns explore trade
Months after making a trade offer for Kevin Durant, the Heat again has interest in acquiring the 15-time All-Star forward, but only at the right price, a source with direct knowledge said Wednesday. Confirmation of the Heat's renewed interest in Durant came after ESPN's Shams Charania reported Wednesday that the Heat and Suns have been in conversations about Durant during the past week, and that Miami, Houston, San Antonio, New York and Minnesota are teams with interest, with other dark horse teams also in the mix. Per ESPN, the Suns and Durant's business partner, Boardroom CEO Rich Kleiman, 'have met multiple times over the past week and are sifting through trade scenarios. The two sides are expected to work together on potential destinations.' Durant has one year left on his contract (for $54.7 million), and that gives him some leverage in where he's traded. After being traded (which is expected), Durant will be eligible to sign a two-year contract extension worth as much as $112 million. If he waits six months after the trade, he could sign a two-year extension worth up to $124 million. A Durant extension likely would mean the Heat would not be a player in 2026 free agency. This will be at least the Heat's fourth pursuit of Durant during the past decade. Miami tried to land him in 2016 free agency, then tried to acquire him in 2022 (when he requested a trade from Brooklyn; he wasn't traded until eight months later, to Phoenix) and then made an offer for him before this past February's trade deadline. That Heat offer, according to a source, included Jimmy Butler (who was subsequently traded to Golden State), Josh Richardson, a first-round pick and another component. Five Reasons Sports reported that Miami offered Nikola Jovic as that fourth component But the Suns rejected that offer, asking for a larger return despite cap restrictions that would have made it difficult for Miami to add more salary. Miami holds Durant in high regard but didn't want to offer all of its trade assets — meaning its top young players and all its available draft inventory. Miami is believed to still feel the same way, even though it would love to add Durant. The Heat typically would open the cupboard and offer most of its top assets for players who are younger. Durant will turn 37 on Sept. 29. He's still highly effective; last season, he averaged 26.6 points, 6.0 rebounds and 4.2 assists while shooting 52.7% and 42.3% on threes. The Spurs and Rockets would seem to have the most assets to offer for Durant, and the Knicks instantly would become a top contender if they offer Karl Anthony-Towns, whose contract would make a trade easier to facilitate. But the Heat has two advantages: a skilled young center in Kel'el Ware (Phoenix reportedly wants a center, but it's unclear if the Heat would offer him), and Duncan Robinson's contract, which would save the Suns well more than $20 million and help get them under the second apron and potentially under the luxury tax line. Robinson is due to make $19.9 million next season, but only $9.9 million is guaranteed. A team that acquires Robinson could release him by the July 8 guaranteed deadline and save $10 million against the cap and luxury tax. A team acquiring Robinson also would save substantial money, for cap and tax purposes, for this reason: His full $19.9 million salary counts on the Heat's books in a trade, but only $9.9 million counts for the team acquiring him before July 8. As a hypothetical, let's say Miami sent Robinson, Andrew Wiggins, Jaime Jaquez Jr., Pelle Larsson and Golden State's 2025 first-round pick, two second-rounders and pick swaps for Durant. That's $54 million in salary being sent out by the Heat and $54.7 million (Durant's salary) coming back. When NBA trades (involving $30 million or more in salaries for each team) are made involving teams without cap space but under the aprons, salaries must be within 125% of each other, plus as much as $250,000. But teams over the first or second aprons (which are about $8 million and $20 million over the tax line, respectively) cannot acquire any more money than they're sending out. The Suns are above the second apron at the moment. That aforementioned hypothetical trade would be cap compliant for Miami because of the 125 percent rule and would be cap compliant for the Suns because they're taking back less money than they send out, a requirement for teams over either apron, and not aggregating contracts, a requirement for teams over the second apron. Among numerous other hypothetical Heat/Durant trades that would satisfy cap requirements: ▪ Wiggins, Robinson, Ware, Kevin Love and a first-round pick or two. ▪ Wiggins, Robinson, Jovic and Love and a first-round pick or two. ▪ Wiggins, Robinson and two among Ware, Jovic and Jaime Jaquez Jr., and a pick. The Heat can trade two-first rounds before the draft: The 20th overall selection this season and a first-round pick in 2030 or 2031. The Heat can trade as many as three first-round picks if the deal is agreed to before the draft but not executed until after the draft. In that scenario, Miami could select a player on behalf of another team at No. 20 and then trade 2030 and 2032 first-round picks after the draft. The Heat's 2032 first-round pick cannot be traded until after the draft because teams cannot deal picks more than seven years out. Per ESPN, Durant has averaged at least 25 points, 50% shooting and 40% on 3-pointers in three straight seasons, the longest streak in NBA history. ever in the NBA, according to ESPN Research. Last season, he shot an NBA-best on jumpers (49.7%) and midrange shots (53.1%). He also had the best shooting percentage on off-the-dribble jumpers (50.9%) Hoopswire reported this week that Durant would like to be traded to the Spurs, but that has not been corroborated by any other media outlet.
