Latest news with #SophieRyan
Yahoo
29-06-2025
- Health
- Yahoo
ATO $1,318 warning as thousands of Aussies urged to act now
Australians are being urged to check their health insurance cover, or risk being hit with an extra tax by the Australian Taxation Office (ATO). Hundreds of thousands of people are stung with the Medicare Levy Surcharge each year, with the average person forking out an extra $1,318 in tax. Fresh data from the ATO revealed that 768,537 people paid the Medicare Levy Surcharge in 2022-23, up nearly 25 per cent from 616,903 people who paid it in 2021-22. The Medicare Levy Surcharge is designed to encourage higher-income earners to take out private hospital cover. From July 1, the singles threshold at which the tax applies will be $101,000, up from $97,000, while the family threshold will be $202,000, up from $194,000. The surcharge is paid on top of the Medicare levy of 2 per cent, and is between 1 and 1.5 per cent depending on your income. RELATED $8,000 ATO boost applied to Medicare Levy Surcharge Days left for millions of Aussies to claim ATO $20,000 tax benefit ATO reveals 10 highest paying jobs in Australia iSelect spokesperson Sophie Ryan said health insurance wasn't typically top of mind around tax time, but urged Aussies to add it to their end-of-financial-year checklist. 'More than half of policyholders surveyed (55 per cent) weren't aware of the reduction in the private health insurance rebate this year,' Ryan said. 'Meanwhile, one in five of all Aussies (20 per cent) don't even know whether they're paying the Medicare Levy Surcharge – an extra tax that higher-income earners may have to pay if they don't have an appropriate level of hospital cover by July 1.' The private health insurance rebate is a contribution the government makes towards your private health insurance premium. It is income-tested and applies to singles earning $158,000 and under, and families earning $316,000 and under for the 2025-26 financial year. The rebate ranges from 8 to 32 per cent, depending on your income and you have hit the Medicare Levy Surcharge this financial year, you can't take out a health insurance policy now to avoid the charge completely. Tax Invest Accounting director Belinda Raso explained that taxpayers are liable for the surcharge for each day they are not covered by private health insurance. 'It's very hard to avoid it if your income's over that amount,' she told Yahoo Finance. 'A lot of people don't realise the reportable fringe benefits will get them in most cases because they get grossed up.' The ATO considers your combined taxable income, reportable fringe benefits, total investment losses, and reportable super contributions for your income for Medicare Levy Surcharge purposes. Raso said you would need to take out private health insurance before July 1 if you wanted to avoid the surcharge completely next financial year. If you already have a health insurance policy in place, it could be worth comparing your cover to make sure you aren't being stung with a loyalty tax. iSelect research found 76 per cent of policyholders had either never switched their health insurance or hadn't done so in more than two years. This could mean they are missing out on savings, with 65 per cent of Aussies who switched revealing they had saved at least $100 a year, 43 per cent around $200 and one in five $500 or more. 'A quick review to see if there's a more suitable deal according to your budget and health needs available could save you serious money and give you peace of mind,' Ryan said. Ryan recommended reviewing what things you are covered for, including any extras, plus considering your in to access your portfolio
Sydney Morning Herald
07-06-2025
- Business
- Sydney Morning Herald
Power bills got you sweating? Stay warm without spending a fortune
Real Money, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You're reading an excerpt − sign up to get the whole newsletter in your inbox. As I write this on a frosty Melbourne morning, the mercury has dipped below 3 degrees, prompting the ritualistic donning of black puffer jackets and a sharp spike in the number of people working from home. I've heard it's also quite cold in Sydney but, frankly, whatever goes on north of the Murray River is none of my business. Scientists have also discovered that cold weather is often associated with thoughts such as 'oh my god I'm never going to be warm again' and 'can I do everything I need to get do today from bed?' It can also see many of us crank our heating up to ridiculous levels, which is great for short-term relief but bad from a power bill perspective. This is especially problematic for those of us with large or poorly insulated houses (so, basically, all of us, as 80 per cent of Australian houses have a two star or less energy rating). What's the problem? To make matters worse, energy prices are on the up. Power prices are set to rise by up to 9.7 per cent in NSW and 5 per cent in Victoria from July 1, after the market regulator announced its latest round of annual price setting. These rises are just an estimate too, as calculations by Canstar show that over the past six years, 67 per cent of the actual prices ended up higher than the proposed price. All in all, it's shaping up as a bad year to be cold. What you can do about it So if the chill is creeping a little too much for your liking (and it's only June!), here are some moves you can make: Shop around: You can put on as many jumpers as you like, or stack on three more blankets, but nothing will save you as much money as jumping ship to a new energy retailer. Comparison expert at iSelect, Sophie Ryan, says everyone should get on the front foot now and check how your current energy offer stacks up – including what your service and supply fees are. 'While power prices may be higher across the board and will increase further for many homes from July 1, there are still differences between retailers and plans, and even a small price difference could make a big difference to a quarterly energy bill,' she says. It's a common misconception (and something that I ramble on about all the time) that loyalty pays, but it doesn't. Your energy provider owes you nothing, and vice versa, so if another one is offering a better deal (even if it's just a one-off for new customers), go get it. The government even has a free, independent energy price comparing tool which you can access here.
The Age
07-06-2025
- Business
- The Age
Power bills got you sweating? Stay warm without spending a fortune
Real Money, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You're reading an excerpt − sign up to get the whole newsletter in your inbox. As I write this on a frosty Melbourne morning, the mercury has dipped below 3 degrees, prompting the ritualistic donning of black puffer jackets and a sharp spike in the number of people working from home. I've heard it's also quite cold in Sydney but, frankly, whatever goes on north of the Murray River is none of my business. Scientists have also discovered that cold weather is often associated with thoughts such as 'oh my god I'm never going to be warm again' and 'can I do everything I need to get do today from bed?' It can also see many of us crank our heating up to ridiculous levels, which is great for short-term relief but bad from a power bill perspective. This is especially problematic for those of us with large or poorly insulated houses (so, basically, all of us, as 80 per cent of Australian houses have a two star or less energy rating). What's the problem? To make matters worse, energy prices are on the up. Power prices are set to rise by up to 9.7 per cent in NSW and 5 per cent in Victoria from July 1, after the market regulator announced its latest round of annual price setting. These rises are just an estimate too, as calculations by Canstar show that over the past six years, 67 per cent of the actual prices ended up higher than the proposed price. All in all, it's shaping up as a bad year to be cold. What you can do about it So if the chill is creeping a little too much for your liking (and it's only June!), here are some moves you can make: Shop around: You can put on as many jumpers as you like, or stack on three more blankets, but nothing will save you as much money as jumping ship to a new energy retailer. Comparison expert at iSelect, Sophie Ryan, says everyone should get on the front foot now and check how your current energy offer stacks up – including what your service and supply fees are. 'While power prices may be higher across the board and will increase further for many homes from July 1, there are still differences between retailers and plans, and even a small price difference could make a big difference to a quarterly energy bill,' she says. It's a common misconception (and something that I ramble on about all the time) that loyalty pays, but it doesn't. Your energy provider owes you nothing, and vice versa, so if another one is offering a better deal (even if it's just a one-off for new customers), go get it. The government even has a free, independent energy price comparing tool which you can access here.
Arab News
23-04-2025
- Entertainment
- Arab News
29th Dubai World Cup breaks records and paves way for the future of horse racing
The 29th Dubai World Cup marked a new milestone in international horse racing, drawing a record-breaking crowd of over 65,000 spectators and offering an impressive $30.5 million in prize money across nine world-class races. Capping off a thrilling season, the event showcased Dubai Racing Club's commitment to delivering an exceptional racing experience on a truly global stage. A spectacular closing ceremony featuring a triple Guinness World Record-breaking drone and fireworks display lit up Meydan Racecourse, reinforcing Dubai's reputation for combining sport, innovation, and entertainment. One of the most anticipated events on the international racing calendar, the Dubai World Cup welcomed a record 170 global broadcasters and nearly 500 accredited media professionals, bringing the excitement from the track to screens globally. From thrilling races to exclusive hospitality, the energy was palpable both on-site and worldwide. The season's success extended beyond the main event. The Dubai Racing Carnival, which runs from November to March, saw a 34 percent rise in attendance, a testament to Dubai's growing appeal in the sport. Highlights included the much-anticipated Fashion Friday on Jan. 24, where Romantic Warrior secured his 10th Group 1 win in Jebel Hatta. International winners from the UK, France, Hong Kong, and Norway further underlined the carnival's global competitiveness. This season showcased strong infrastructure and global reach, largely due to Dubai's strategic location and its advanced equine transport and quarantine facilities. These factors position Dubai as a premier hub for international horse racing. Each year, the Dubai Racing Club's International Department imports and quarantines around 3,000 horses. This process facilitates smooth participation for competitors from around the world and strengthens the city's reputation as a leading destination for racing events. As in previous seasons, innovation was crucial, featuring new technologies such as drone-based coverage and advanced analytics through Total Performance Data. These improvements enhanced the viewing experience and offered valuable insights for fans, trainers, and analysts, all while maintaining the highest safety standards for horses, jockeys, and spectators. One of the most spectacular viral moments was the drone and fireworks display during the Dubai World Cup closing ceremony. This event not only broke three Guinness World Records but also showcased a commitment to innovation. 'These moments captivate our guests and project Dubai's excellence on a global stage, showcasing what's possible when cutting-edge technology and visionary event design come together,' said Sophie Ryan, head of corporate communications, marketing and brand at Dubai Racing Club. Beyond the racing, Meydan Racecourse evolved into a full-fledged lifestyle destination. The venue offered luxury suites, exclusive balconies, and high-end culinary experiences from restaurants including The MAINE, Beau, and Cipriani Dolce. Popular events like Ladies' Nights and the Style Stakes fashion competition added flair to the festivities, underscoring Dubai's blend of tradition and modern luxury. As for fashion, it remains a core part of the racing culture in Dubai. This season's Style Stakes, sponsored by Emaar, elevated the glamor with bold self-expression and cultural flair. From the elegance of Fashion Friday to Emirates Super Saturday, racegoers embraced the spirit of individuality. For the first time, Dubai Racing Club also introduced a Millinery Exhibition, celebrating the artistry of hat-making and offering a new opportunity for fashion enthusiasts to shop one of the most essential elements of the horse racing outfit. What can we anticipate for the upcoming seasons? As preparations begin for the 30th anniversary of the Dubai World Cup in 2026, Dubai Racing Club is deepening global partnerships with organizations like Churchill Downs and The Jockey Club. With new hospitality collaborations on the horizon, the future promises an even more immersive and world-class experience for racing fans. 'The 30th anniversary of the Dubai World Cup in 2026 will deliver the most memorable celebration, setting a new benchmark for the sport,' added Ryan. As the curtain falls on an unforgettable season, one thing is clear — Dubai Racing Club is not just hosting the future of horse racing; it is defining it.
