array(1) { [0]=> &object(stdClass)#6773 (52) { ["id"]=> string(5) "17673" ["title"]=> string(136) "Will housing affordability improve in 2022? Will buy now, pay later become the norm? Why are Aussies staying in failing super products? " ["alias"]=> string(131) "will-housing-affordability-improve-in-2022-will-buy-now-pay-later-become-the-norm-why-are-aussies-staying-in-failing-super-products" ["introtext"]=> string(254) "

In this episode of The nestegg Podcast, host Maja Garaca Djurdjevic checks in with our three experts, digging into the biggest headlines of what’s happening when it comes to the world of superannuation, property, investing and wealth creation.

" ["fulltext"]=> string(1072) "

Steve Waters, director of Right Property Group, talks about affordability, inflation and his expectations for property in 2022.

RMIT senior lecturer of finance Dr Angel Zhong covers the interesting topic of buy now, pay later and what its introduction to the hospitality industry could mean for consumers. She also relays her thoughts on CBA’s entry into crypto and how other banks may react.

Finally, tax and super guru Timothy Munro tackles the likely return of a popular tax-saving measure in 2022. He also delves into super’s stellar performance and why Aussies aren’t leaving failing MySuper products.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "302" ["created"]=> string(19) "2021-11-17 00:28:11" ["created_by"]=> string(4) "2404" ["created_by_alias"]=> string(0) "" ["state"]=> string(1) "1" ["modified"]=> string(19) "2021-11-17 03:35:57" ["modified_by"]=> string(4) "2404" ["modified_by_name"]=> string(12) "Robyn Tongol" ["publish_up"]=> string(19) "2021-11-17 03:35:57" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(233) "{"image_intro":"images\/podcasts\/Angel_Zhong_Steve_Waters_Timothy_Munro.jpg","float_intro":"","image_intro_alt":"","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(855) "{"article_layout":"","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"UCLBR-2LtTtui_WiRuEfW3qA","send":"0","test":"0","comments":"1","readingDiff":"3","schema_active":"0","schema_name":"","schema_description":"","schema_thumbnailUrl":"","schema_uploadDate":"","schema_duration":"","schema_contentUrl":"","schema_embedUrl":"","canonical_link":""}" ["metadata"]=> string(68) "{"robots":"","author":"","rights":"","xreference":"","metatitle":""}" ["metakey"]=> string(97) "housing, affordability, improve, 2022, buy, pay, norm, aussies, staying, failing, super, products" ["metadesc"]=> string(200) "In this episode of The nestegg Podcast, host Maja Garaca Djurdjevic checks in with our three experts, digging into the biggest headlines of what’s happening when it comes to the world of superannua" ["access"]=> string(1) "1" ["hits"]=> string(3) "116" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(4) "1072" ["ordering"]=> string(1) "0" ["category_title"]=> string(7) "Podcast" ["category_route"]=> string(17) "resources/podcast" ["category_access"]=> string(1) "1" ["category_alias"]=> string(7) "podcast" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "82" ["author"]=> string(12) "Robyn Tongol" ["author_email"]=> string(33) "[email protected]" ["parent_title"]=> string(9) "Resources" ["parent_id"]=> string(3) "300" ["parent_route"]=> string(9) "resources" ["parent_alias"]=> string(9) "resources" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#6774 (3) { ["data":protected]=> object(stdClass)#6787 (95) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(67) "Earn Money - Your Best Source on How to Earn Money Guides | nestegg" ["menu-meta_description"]=> string(154) "Complete comprehensive guides on starting a blog, tips for tax savings, side hustles, getting online money earning opportunities and latest economic news." ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(67) "Earn Money - Your Best Source on How to Earn Money Guides | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-11-17 03:35:57" ["slug"]=> string(137) "17673:will-housing-affordability-improve-in-2022-will-buy-now-pay-later-become-the-norm-why-are-aussies-staying-in-failing-super-products" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(150) "/resources/podcast/will-housing-affordability-improve-in-2022-will-buy-now-pay-later-become-the-norm-why-are-aussies-staying-in-failing-super-products" ["image"]=> string(58) "images/podcasts/Angel_Zhong_Steve_Waters_Timothy_Munro.jpg" ["image_alt"]=> string(0) "" } }

Latest Podcast

Will housing affordability improve in 2022? Will buy now, pay later become the n...

Resources

There is $17.5 billion in lost and unclaimed super across ...

Earn

JobSeeker rise a ‘half-arsed PR exercise’

By Cameron Micallef

February 24 2021
Share

Earn

JobSeeker rise a ‘half-arsed PR exercise’

By Cameron Micallef
February 24 2021

The federal government’s plan to permanently increase JobSeeker by $50 a fortnight has been slammed by industry experts for leaving 1.2 million Australians at the mercy of poverty.

JobSeeker rise a ‘half-arsed PR exercise’

By Cameron Micallef

February 24 2021
Share

The federal government’s plan to permanently increase JobSeeker by $50 a fortnight has been slammed by industry experts for leaving 1.2 million Australians at the mercy of poverty.

Under the new proposal, JobSeeker recipients will see a reduction in their current $715 fortnightly pay, as the $150 coronavirus supplement expires at the end of March.

But recipients of JobSeeker, Youth Allowance, Austudy, Abstudy and Parenting Payment are set to recoup part of this loss, with the Morrison government announcing on Tuesday a permanent lift in the rate by $50 a fortnight, due to kick in on 1 April.

According to the PM, the cost to the national budget will hit $9 billion over the next four years.

With the total JobSeeker allowance due to equal $307 per week, PM Scott Morrison said employing workers is a better alternative to JobSeeker payments.

“Every person we get in a job, they’re better off and the country is better off. That remains our objective. If you’re on JobSeeker, we’ll work night and day to get you off and back into a job,” the PM said.

While the Business Council of Australia backed the PM’s assertions, others are less pleased, with the Green’s leader, Adam Bandt, calling the decision “a bloody insult”.

“This decision will keep people going hungry. It will keep unemployed people facing homelessness. We must raise the rate above the poverty line,” Mr Bandt said on Twitter.

Conversely, CEO Jennifer Westacott said that while the JobSeeker support is important, it needs to go “hand in hand” with urgent reform to better support unemployed people to find meaningful jobs.

“At the end of the day, most people don’t want to be on welfare, they want a job,” she said.

“We need to remain focused on how we can create more and better jobs for all Australians.”

The usual $575 a fortnight payment was nearly doubled in the early stages of the pandemic, with the coronavirus supplement initially worth $550 a fortnight, before being reduced to $250 and eventually $150 a week as the economic recovery continued.

Prior to the pandemic, the JobSeeker base rate was barely over half the Henderson’s poverty line, with GetUp advocating for an $80 a day increase to get JobSeeker recipients equal Australia’s poverty line.

“This isn’t a raise in the JobSeeker rate — it’s a half-arsed PR exercise that will entrench poverty and disadvantage more than 1.2 million Australians who depend on JobSeeker to survive,” GetUp national director Paul Oosting said.

“The Morrison government has thrown people on JobSeeker some crumbs and called it a raise. What it really is, is an insult.”

CPA Australia’s chief executive officer, Andrew Hunter, weighed in, too, noting that while the lift is welcome, the amount of the rise may not be sufficient.

“We’re pleased the government has announced an increase in JobSeeker, but the new rate still won’t provide adequate support or security to many recipients,” Mr Hunter said.

“It doesn’t make sense to leave so many households struggling to make ends meet in these difficult times.

“One of the surest ways to get money circulating in an economy is to assist people who will spend it. JobSeeker recipients have limited capacity to save and will use additional amounts to buy goods and services that support business and the economy.”

ACOSS chief executive Cassandra Goldie said on Monday that JobSeeker recipients were struggling to afford rent, food, medication and bills even with the coronavirus supplement, stating Australians will struggle with a reduced rate.

“As we continue along what will be a long, hard road out of recession, we cannot leave millions of people behind in poverty, which is clearly inhumane [and] makes no economic sense,” she said.

“For far too long, our unemployment payment, which is the lowest in the OECD, has been brutal and inhumane.”

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates

Rate the article

About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

Salary

Gen Z left behind in progress to gender equality

Women under 25 may emerge from the pandemic in a worse financial position than when it began, new research has shown. ...Read more

Salary

Show me the money: I deserve a COVID recognition payment, and so do you

Staff are currently in high demand. But they’re also mostly overworked, overtired, underplayed and underpaid. ...Read more

Salary

Is Australia headed for the ‘Great Resignation’?

A wave of resignations from Australian workers is expected in the next six months. ...Read more

Salary

Earnings surge in lockdown, but is a slump ahead?

A new report from CBA has shown that it may actually pay to be in lockdown, as growth in household income surged ahead in NSW and Victoria. ...Read more

Salary

RBA sets sights on 4% unemployment

The RBA has updated its key objectives in order to jolt the Australian economy into growth, including a two-decade low unemployment rate of 4 per cent. ...Read more

Salary

Aussie women required to work 61 extra days to earn the same pay

61 days is how much extra time a woman must spend in the workforce to achieve the same financial outcome as her male counterpart, with the gender gap expected to grow further, research has revealed. ...Read more

Salary

Pandemic sees spike in remote-work job postings

Businesses are looking far and wide to attract key staff members as lockdowns accelerate the move towards online working, meaning businesses can now attract staff who do not need to be in the office, ...Read more

Salary

Workers, businesses wait on lockdowns before deciding next moves

Australian businesses and staff alike are waiting to see what will happen post the COVID-19 pandemic before deciding whether to increase staffing levels or change their jobs, government figures have s...Read more