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Perth Now
a day ago
- Business
- Perth Now
Big changes coming to BNPL from Tuesday
Big changes are coming for Buy Now Pay Later providers as tighter regulations aim to stop consumers being affected by potentially harmful credit contracts. From Tuesday June 10, BNPL products – including Afterpay, Zip and Humm, as well as low cost credit contracts for significant purchases, including solar panels or dental work – will be regulated in the same way as credit cards. The new legislation was introduced by the Albanese government in June 2024, requiring BNPL providers to hold an Australian credit licence, comply with existing credit laws regulated by the Australian Securities and Investments Commission (ASIC), and establish a new category of low cost credit under the Credit Act. BNPL providers, under ASIC, may be required to complete mandatory checks and inquiries about a consumer's financial situation, including in relation to their income and expenditure, to prevent financial strain. Major changes are coming for BNPL products like Zip, Afterpay and Humm from Tuesday June 10. NewsWire / John Gass Credit: News Corp Australia BNPL products are the third-most used credit product in the country, sitting behind credit cards (58 per cent) and home loans (21 per cent), according to CreditSmart. This means consumers may begin to see missed or late repayments appearing on their credit reports. It also means consumers can expect to undergo mandatory credit checks, which could impact their credit scores. 'Some BNPL providers will report additional information, such as repayments, on consumers' credit reports,' Arca chief executive officer Elsa Markula said. 'However, BNPL providers such as Afterpay will report credit checks only.' The majority of BNPL customers are younger Australians. NewsWire /Gaye Gerard Credit: News Corp Australia A study from CreditSmart revealed one fifth of Australian consumers use a BNPL service such as Afterpay or Zip, but one third (33 per cent) have never checked their credit reports. Younger Australians are the biggest consumer of BNPL, with Millennials making up 38 per cent and Gen Z representing 13 per cent. However, 15 per cent of Gen Z said they didn't believe lenders would check their credit report during an application process. Ms Markula said the change in BNPL regulations would give consumers a harsh reality check when it comes to their credit scores, especially if they were hoping to apply for a loan or a mortgage.'BNPL is now the third most used credit product in Australia, behind credit cards and home loans,' she said. 'But too few people understand how it affects their credit profile, especially young Australians. 'Under the new rules, your BNPL behaviour could directly impact your credit score and your future ability to get a loan, a credit card, or even a mortgage.' The BNPL products will now be regulated like credit cards and home loans. NewsWire / John Gass Credit: News Corp Australia She urged consumers to be wary as the changes may catch them off-guard. 'Not all providers will report the same data at the same time, so check updates from your BNPL provider,' she said. Ms Markula said the sweeping legislation changes could be a positive move for Australians hoping to improve their credit score. 'Done right, BNPL usage can now be a tool for strengthening your credit profile, especially for younger or credit-invisible consumers looking to access more traditional forms of credit down the track,' she told NewsWire. She urged consumers to make repayments on time to avoid a negative hit to the credit reports. 'While not all BNPL providers report payment history, where this information is reported it is the most important factor for building or protecting your credit score,' she said. Consumers have also been cautioned to check their credit score regularly, and watch for errors or missing information. 'Check your credit reports from all three major credit reporting bodies to ensure your information is accurate,' she said. Ms Markula said the regulation changes should make Australians consider when they use BNPL products, and limit credit applications if unnecessary. 'Apply for credit only when needed; multiple applications in a short time may signal financial stress to lenders,' she said. 'Only take on credit – including BNPL – you can comfortably repay.'
Perth Now
03-06-2025
- Business
- Perth Now
‘Competing hard': Olympic house price battle
The Brisbane Olympics continue to loom as a potentially massive upward driver of house prices. Speculation is rife about just how much the Games will push up prices in Brisbane in particular. As soon as the long-awaited venues were confirmed in March, realtors began promoting their properties as within the 'Olympic precinct'. Finder research suggests 1.5 million people would be looking to buy in Brisbane between now and the 2032 Games. 'The ripple effect on the local property market, especially in Brisbane's inner and middle-ring suburbs, cannot be underestimated,' Australian Property Investor magazine said in April. A new stadium will be built at Victoria Park for the Brisbane Olympics. Queensland government Credit: Supplied Once a golf course and now a sprawling public park, the Victoria Park precinct is tipped to turbocharge Brisbane house prices. NewsWire / John Gass Credit: News Corp Australia Propertytology managing director Simon Pressley tempered the huge expectations this week though, downplaying estimates Brisbane house prices would double in the next seven years. 'No guarantee,' he told Channel 7 on Tuesday morning. 'Property markets are obviously very, very complicated. 'There's no precedent with past Olympic Games around the world that property booms always happen.' The Sydney 2000 Games did spark a property boom though, but the NSW economy and the monetary policy of the time were larger factors for the boom, Mr Pressley said. Persistent community opposition to a new Brisbane stadium was ignored by the state government. NewsWire / Tertius Pickard Credit: News Corp Australia 'Broadly, for the whole state of Queensland, the outlook for its property market for the foreseeable future looks to be strong,' he said. 'Buyers are already competing very hard for a small volume of properties for sale.' The latest national figures show Brisbane's median dwelling value has increased 7.1 per cent in the past year to $918,000. Of the capital cities, only Perth prices have gone up more in the past 12 months. Regional South Australian prices have shot up the most. In March, the Queensland government unveiled plans for a new Olympics precinct in Brisbane. 'There's going to be a lot of construction obviously with various stadiums and arenas built all over the state,' Mr Pressley said. 'Skilled labour is going to be a big challenge for the Queensland government as well.'
Herald Sun
27-05-2025
- General
- Herald Sun
Protesters threaten to shut down Brisbane's Story Bridge
Don't miss out on the headlines from On the Road. Followed categories will be added to My News. One of Brisbane's busiest bridges could be shut down by protesters during peak-hour traffic to demand a lane be allocated for bikes. Members of Space for Cycling Brisbane and its supporters plan to march across all six lanes of the Story Bridge between 8am and 9am on Friday. The protest, calling for one of the lanes to be altered to a bike, scooter and pedestrian only travelway, comes following the closures of the footpaths on either side of the bridge in March ahead of ex-Tropical Cyclone Alfred. A structural assessment was later carried out by engineers, who found water to be leaking through the concrete. Commuters looking to travel across the Story Bridge on Friday morning may need to look for other options. Picture: NewsWire / John Gass According to organisers of the protest, there has been 'no time frame' given to the public on the reopening of the footpaths nor an appropriate alternate detour made available. 'There are thousands of people who use the Story Bridge daily who have had their commutes and travel impacted for well over two months now,' a message from the organisers read. 'It is now clear that the footpaths over the bridge are unsafe to travel on, however more frustrating than the closure is the lack of communication from the council and the lack of a suitable detour. 'Council has multiple times published suggested detours that aren't possible.' A detour is in place for cyclists and pedestrians using the new Kangaroo Point Bridge, while CityCat and KittyKat services also link Kangaroo Point to the city and Howard Smith Wharves. Protesters are marching to demand one of the bridge's six lanes be converted into a pedestrian and bike crossing. Picture: Supplied The move has been slammed by Brisbane City councillor Andrew Wines, after the group was coined 'Extinction Rebellion on wheels' by Lord Mayor Adrian Schrinner during a council meeting on Tuesday. 'Brisbane commuters need to be aware of a dangerous and disruptive protest that will shut down traffic on the Story Bridge during peak hour on Friday morning,' Mr Wines said in a statement. 'The cycling activists, who are taking a leaf out of the Extinction Rebellion playbook, plan to proceed with their illegal protest at 8am on Friday despite concerns raised by Queensland Police and Brisbane City Council. Brisbane City councillor Andrew Wines slammed the march, declaring protests will 'cause chaos' during the peak-hour stint. Picture: Supplied 'They plan to hold Brisbane commuters to ransom and cause chaos, just like Extinction Rebellion did a few years ago. 'The protesters are trying to force the closure of a lane of Story Bridge to traffic so it can be used by cyclists and pedestrians while work is underway to repair the bridge footpaths. 'However, the chaos this protest will cause will just prove the point that it's simply not practical to close traffic lanes on the Story Bridge for the benefit of cyclists.' Mr Wines said expert analysis by council found two lanes of the bridge would need to be closed to safely allow cyclists and pedestrians to cross – causing 'daily traffic chaos' not just on the Story Bridge but across the city's road network. The group has been likened to radical protesters Extinction Rebellion, who have shut down Brisbane's corridors before. Picture: NewsWire / Sarah Marshall He added: 'We're working to ensure the footpaths are reopened within months.' Queensland Police are set to make a last-minute bid to stop the demonstrators from marching and will appear at Brisbane Magistrates Court on Thursday. The court application was lodged after talks reportedly broke down between the two parties. 'Police and Brisbane City Council attempted to engage with the protest organiser in relation to suitable protest plans, however mediation was not successful,' the spokesperson told ABC News. 'Under provisions of the Peaceful Assembly Act, police will lodge documentation with Brisbane Magistrates Court for a decision to be made with respect to the Notice of Intention to Hold a Public Assembly.' It comes as the bridge's footpaths were closed in March ahead of ex-Tropical Cyclone Alfred's landfall and haven't been reopened since. Picture: NewsWire / Dan Peled Protest organiser Kathryn Good said the protest would not go ahead if the court ruled it to be illegal. 'Brisbane City Council have accused us of holding an illegal protest,' she wrote to supporters on Tuesday. 'This is not only factually untrue, but an absolutely outrageous statement to make.' She confirmed the organisers has submitted a Notice of Intention and informed Brisbane City Council ahead of time. 'The organisers including myself have engaged in good faith with QPS and BCC,' Ms Good added. 'We are aware that they are seeking a court order to prevent the process and we have every intention of complying with any court orders made.' Ms Good said the protest had no affiliation with Extinction Rebellion, or any other political party or group. More than 100 people are expected to march. Originally published as 'Extinction Rebellion on wheels' threatens to shut down Brisbane's Story Bridge over missing bike lane
Herald Sun
30-04-2025
- Herald Sun
Former MKR star Claudean Bernadette Uamaki-Mu pleads guilty to assault of children
Don't miss out on the headlines from Breaking News. Followed categories will be added to My News. Two former My Kitchen Rules stars who were facing a raft of charges can be identified for the first time, after the woman pleaded guilty to kicking, spitting on and hitting children. Claudean Bernadette Uamaki-Mu and Anthony Michael Mu could only be named as two Channel 7 personalities during their initial appearances at Richlands Magistrates Court, due to a sweeping non-publication order handed down in 2023. But the pair – who appeared on the Channel 7 reality cooking show in 2023 – can now be named due to Uamaki-Mu, 54, pleading guilty to six charges of common assault on Wednesday. She walked free from court with a 12-month good behaviour bond and $1000 recognisance, and no conviction recorded. Claudean Bernadette Uamaki-Mu pleaded guilty at Richlands Magistrates Court on Wednesday to six common assault charges. Picture: NewsWire / John Gass The couple were surrounded by family supporters, who pushed past waiting media as they exited court. Wednesday's proceedings began at 9am but a lengthy delay occurred due to police attempting to amend some of Uamaki-Mu's charges. After case conferencing which lasted through the lunch break, police prosecutor Sergeant Tom Wirawan said only six common assault charges Uamaki-Mu was facing would proceed to a plea. Other charges were withdrawn. Additional chairs were required to accommodate reporters due to family members packing out the courtroom. Anthony Michael Mu is due to stand trial in Richlands Magistrates Court in May. Picture: NewsWire / John Gass Picture: NewsWire / John Gass Acting Magistrate Michael Quinn noted some details involved pulling the hair of a child and hitting the child on the back of the head with a hairbrush. 'On another occasion there was spitting on the child,' Mr Quinn said. 'On another, there was a lesser assault of throwing a plastic Tupperware container and hitting the back of the child's head.' The court was told there was another incident where a child was kicked in the stomach and pulled up by the hair. 'There was another, involving grabbing a child and throwing (the child) into the bedroom wall,' he said. 'Another … involved pulling the child to the ground and poking the child in the face with your finger.' Mr Quinn called the charges 'extremely serious' and emphasised how the protection of children was paramount. Uamaki-Mu had no criminal history, the court was told. Sergeant Wirawan said he would normally ask for a suspended prison term but noted the woman's early plea and that she had avoided complainants needing to give evidence at trial. He asked for a 'hefty' fine to be issued. Defence barrister Simon Lewis said his client suffered from depression and anxiety and had been diagnosed with post-traumatic stress disorder. The court was told Uamaki-Mu's common assault charges involved her hitting, kicking and 'spitting on' children on diverse dates over, which occurred over various dates over 2006, 2010, 2011 and 2021. Picture: NewsWire / John Gass She was seeing a medical professional to address her longstanding psychiatric issues, Mr Lewis said, who told the court the behaviour was consistent with 'losses of control'. Mr Lewis said Uamaki-Mu had endured public shaming due to the offences. 'In my submission, there would seem to be little utility in imposing a fine for something (where) … the majority of offending that happened some ago,' Mr Lewis said. Magistrate Quinn accepted Uamaki-Mu was remorseful and was receiving ongoing treatment to address her mental health issues. While Wednesday's proceedings close a chapter in a protracted case that has staggered through the magistrates court for more than a year, it is not the end for both Uamaki-Mu and Mu's court cases. Uamaki-Mu is still due to stand trial in the District Court on 12 charges, including unlawful assault occasioning actual bodily harm, indecent treatment and rape, following a committal hearing in January. Mu is also due to stand trial in the Magistrates Court on a later date. He is facing eight counts of assault occasioning actual bodily harm (two while in company), two counts of common assault and one count of observations in breach of privacy. During January's committal hearing, Magistrate Stuart Shearer repeatedly raised concerns with the admissibility of certain statements and noted some relied on 'hearsay'. Sergeant Wirawan's request to amend some of the 'duplicitous' charges were refused. 'I'm not amending your charges to fix your case,' Mr Shearer said. He proceeded to dismiss dozens of Uamaki-Mu's charges one by one, variously noting there were 'no particulars' or evidence to support each charge or that it was duplicitous with another charge. Originally published as Former MKR star Claudean Bernadette Uamaki-Mu pleads guilty to 'kicking', 'hitting', 'spitting on' children
Perth Now
30-04-2025
- Perth Now
MKR stars facing assault charges named
Two former My Kitchen Rules stars who were facing a raft of charges can be identified for the first time, after the woman pleaded guilty to kicking, spitting on and hitting children. Claudean Bernadette Uamaki-Mu and Anthony Michael Mu could only be named as two Channel 7 personalities during their initial appearances at Richlands Magistrates Court, due to a sweeping non-publication order handed down in 2023. But the pair – who appeared on the Channel 7 reality cooking show in 2023 – can now be named due to Uamaki-Mu, 54, pleading guilty to six charges of common assault on Wednesday. She walked free from court with a 12-month good behaviour bond and $1000 recognisance, and no conviction recorded. Claudean Bernadette Uamaki-Mu pleaded guilty at Richlands Magistrates Court on Wednesday to six common assault charges. NewsWire / John Gass Credit: News Corp Australia The couple were surrounded by family supporters, who pushed past waiting media as they exited court. Wednesday's proceedings began at 9am but a lengthy delay occurred due to police attempting to amend some of Uamaki-Mu's charges. After case conferencing which lasted through the lunch break, police prosecutor Sergeant Tom Wirawan said only six common assault charges Uamaki-Mu was facing would proceed to a plea. Other charges were withdrawn. Additional chairs were required to accommodate reporters due to family members packing out the courtroom. Anthony Michael Mu is due to stand trial in Richlands Magistrates Court in May. NewsWire / John Gass Credit: News Corp Australia, NewsWire / John Gass Acting Magistrate Michael Quinn noted some details involved pulling the hair of a child and hitting the child on the back of the head with a hairbrush. 'On another occasion there was spitting on the child,' Mr Quinn said. 'On another, there was a lesser assault of throwing a plastic Tupperware container and hitting the back of the child's head.' The court was told there was another incident where a child was kicked in the stomach and pulled up by the hair. 'There was another, involving grabbing a child and throwing (the child) into the bedroom wall,' he said. 'Another … involved pulling the child to the ground and poking the child in the face with your finger.' Mr Quinn called the charges 'extremely serious' and emphasised how the protection of children was paramount. Uamaki-Mu had no criminal history, the court was told. Sergeant Wirawan said he would normally ask for a suspended prison term but noted the woman's early plea and that she had avoided complainants needing to give evidence at trial. He asked for a 'hefty' fine to be issued. Defence barrister Simon Lewis said his client suffered from depression and anxiety and had been diagnosed with post-traumatic stress disorder. The court was told Uamaki-Mu's common assault charges involved her hitting, kicking and 'spitting on' children on diverse dates over, which occurred over various dates over 2006, 2010, 2011 and 2021. NewsWire / John Gass Credit: News Corp Australia She was seeing a medical professional to address her longstanding psychiatric issues, Mr Lewis said, who told the court the behaviour was consistent with 'losses of control'. Mr Lewis said Uamaki-Mu had endured public shaming due to the offences. 'In my submission, there would seem to be little utility in imposing a fine for something (where) … the majority of offending that happened some ago,' Mr Lewis said. Magistrate Quinn accepted Uamaki-Mu was remorseful and was receiving ongoing treatment to address her mental health issues. While Wednesday's proceedings close a chapter in a protracted case that has staggered through the magistrates court for more than a year, it is not the end for both Uamaki-Mu and Mu's court cases. Uamaki-Mu is still due to stand trial in the District Court on 12 charges, including unlawful assault occasioning actual bodily harm, indecent treatment and rape, following a committal hearing in January. Mu is also due to stand trial in the Magistrates Court in May. He is facing eight counts of assault occasioning actual bodily harm (two while in company), two counts of common assault and one count of observations in breach of privacy. During January's committal hearing, Magistrate Stuart Shearer repeatedly raised concerns with the admissibility of certain statements and noted some relied on 'hearsay'. Sergeant Wirawan's request to amend some of the 'duplicitous' charges were refused. 'I'm not amending your charges to fix your case,' Mr Shearer said. He proceeded to dismiss dozens of Uamaki-Mu's charges one by one, variously noting there were 'no particulars' or evidence to support each charge or that it was duplicitous with another charge. Domestic Violence helplines mental health helplines
