Innholdsfortegnelse for July 2025 i Money Magazine

Ensuring our readers get value for money is a central tenet of Money magazine. Sometimes that is done by crunching vast amounts of data to identify outstanding financial products and services. This results in our annual Best of the Best issue. At other times we ask our readers to tell us what they consider to be the best financial companies in Australia. Because, as we all know, lived-in experience of dealing with a business is different to results tallied on a page. This leads us to the 2025 Consumer Finance Awards, starting on page 52 of this issue. Here we profile the companies, mostly authorised deposit-taking institutions (ADIs) – another way of saying banks, credit unions and building societies – that people on the ground say are at the top…

“The trouble with tariffs, to be succinct, is that they raise prices, slow economic growth, cut profits, increase unemployment, worsen inequality, diminish productivity and increase global tensions. Other than that, they’re fine.” David Kelly, chief global strategist at JP Morgan Asset Management Much has been written since President Trump’s ‘Liberation Day’ tariff announcements on April 2 kicked off a period of volatile markets and heightened business uncertainty globally. The wonderful quote from JP Morgan Asset Management’s David Kelly above, beautifully summarises the various negative impacts of tariffs. Typically, economists think of these effects as applying to the country imposing the tariff – in this case (initially) the US. But when the tariff impositions are as large and as widespread as those proposed, the economy imposing the tariffs is as large…

The rate of superannuation guarantee (SG) – the amount of super that your employer is obliged by law to pay on your behalf – is going up to 12% (from 11.5%) on July 1, 2025. This is the final step in a series of annual increments that has seen the rate of SG progressively increase from 9.5%, by a series of annual increments going back to 2021. It means that your retirement savings have increased – indeed, analysis shows that each increment has led to an increase of about $19,000 in the size of the retirement nest egg available to a ‘typical’ 30-year-old Australian. SG contributions are one of the components of the concessional contribution cap, which currently sits at $30,000 per year. What this means is that you can…

1 in 6 The share of Gen Zs who would take up a suspicious investment opportunity based on a celebrity or influencer endorsement. Source: BrokerChooser In the first four months of the year Australians lost just shy of $119 million to scammers, according to Scamwatch. More than a quarter of these losses came from people aged 65 and older – the mostaffected age cohort by far. However, new research suggests that younger Aussies may need to improve their vigilance. A survey of 2000 Australians undertaken by BrokerChooser sought to gauge how likely people were to engage with four scam scenarios related to unsolicited investment opportunities, including the promise of sky-high returns. Respondents aged between 25 and 34 were found to be the most likely group to overestimate their confidence when it…

After nearly 50 years of cross-ownership, Brickworks and Washington H. Soul Pattinson are finally merging. Brickworks holds 26% of Soul Patts, while Soul Patts owns 43% of Brickworks. Their long-discussed but oftendismissed consolidation will create a new $14 billion entity -tentatively called TopCo, but likely to retain the Soul Pattinson name. In the new structure, Brickworks shareholders will own 19%, Soul Patts shareholders 72%, and 148 million cross-held shares will be cancelled. An additional $550 million in equity will be issued, lifting the company’s free float and triggering forced buying by passive index funds. This anticipated inflow is likely why Brickworks’ stock quickly jumped 27% and Soul Patts 17% on the announcement – gains that exceeded the merger’s immediate financial benefit. The rationale for timing is unclear, though Soul Patts’…

Telstra has launched Scam Protect, a new security feature that warns users about fraudulent and suspicious calls on smartphones. Integrated directly into Telstra’s network, Scam Protect extends across all its retail and wholesale services, including Boost Mobile, Belong, Aldi Mobile, Tangerine, and many others. When a potentially suspicious call is detected, the system sends a warning message, notifying users before they answer. These warnings fall into three categories: Warning: Potential fraud. Applies to calls that may be made from a spoof number (when a scammer makes a number look legitimate) or that have a suspicious calling pattern. Unverified: Overseas call. Applies to calls that look like they’re coming from a local number but are detected to be coming from overseas. Warning: Suspicious calling pattern. Applies to calls with a high…

A client recently asked me a question that goes far beyond dollars and cents: “We want to give our kids a financial head start, but we don’t want to rob them of the satisfaction that comes from doing it themselves. What’s the right way to help without overdoing it?” It’s a concern shared by many parents and grandparents, especially those who have worked hard to build wealth and now want to pass on something meaningful. The challenge? Finding the balance between supporting children and empowering them to create and manage wealth for themselves. Start with values, not just numbers The goal isn’t just to give money, it’s to raise children who understand how to build, grow and manage wealth. One of my favourite philosophies, often attributed to Bruce Lee, explains…

Here’s something new in banking that we can all get excited about. No, it’s not AI. It’s far more powerful than that. It’s the rise of commonsense banking. According to Money readers who participated in this year’s Consumer Finance Awards readership questionnaire, the banks that rose to the top are the same ones that made the meat-and-potatoes needs of their customers a priority. That includes automatically lowering interest rates on home loan products as soon as the Reserve Bank announced the rate cuts, offering high savings rates without onerous conditions, and making budgeting easy through intuitive and simple-tounderstand banking tools built into their banking apps. If you want to talk dollars, one bank blocked $4.1 million in online scams, while another gave $7.8 million in cashback. As you go through…

• ESG isn’t all about climate change, although that is important. According to Estelle Parker, co-CEO of the Responsible Investment Association Australasia (RIAA), it also includes factors such as biodiversity and nature loss on the environmental front, social issues such as modern slavery, human rights abuses, gender balance and workplace diversity, and governance issues such as transparency, tax evasion and corruption. • A 2024 survey by the RIAA found animal cruelty was one of the top concerns for investors, with two-thirds listing it as important and more than half wanting non-animal testing for non-medicinal purposes. More than three-quarters of respondents felt it was important to avoid human rights violations. Gambling, companies that don’t pay their fair share of tax, tobacco, weapons, environmental damage, pornography, and investing in armed-conflict zones were…

Anyone who has been following Banyantree’s research and investment strategies for close to a decade would be fully aware that within a multi-asset strategy our bias has always been towards global equities versus Australian equities. Australia makes up approximately 2% of the global equity market and it never made sense to us to allocate most of our equity allocation to our home market, if we were genuinely taking a global perspective. Further, the investment opportunities are greater across sectors, economic growth models and access to innovating companies. As the table below highlights, our bias towards global equities has delivered a materially higher per annum return for investors versus Australian equities. But we are not wedded to maintaining this global bias if we feel that the opportunity in Australian equities is…

Cochlear is our pick. The company dominates the global market for hearing implants. Its brand is peerless. Its technology is world class. It supports its customers through their entire journey, and benefits from a growing global middle class that’s increasingly able to access hearing solutions. The kicker? Once someone has a Cochlear device, they’re very likely to remain a customer for life. Cochlear gives us the trifecta: long-term demand, a strong economic moat and a product that creates loyalty as well as life-changing outcomes. Add in global growth potential and increasing rates of diagnosis, and you’ve got something special, and that makes the company our healthcare Best in Breed.…

CALENDAR OF EVENTS Tuesday, July 1 Unemployment rate Wednesday, July 2 Inflation rate MoM Wednesday, July 9 NAB business confidence Thursday, July 10 Interest rate decision Wednesday, July 16 Export prices YoY Putting the AI in online retail It’s an interaction that’s likely played out millions, if not billions, of times between retail assistants and customers over the years… “Is there anything I can help you with today or are you just browsing?” Like ambient music or excessively bright changing-room lights, it’s just part and parcel of the traditional shopping experience. And now, two of the world’s largest payment companies are aiming to embed that question -or, at least, the sentiment behind it – into a newer retail frontier: online shopping. But it won’t be a human asking the question.…

BOOK OF THE MONTH AI HUMAN FUSION by Leanne Shelton (Major Street Publishing, RRP $32.99) Suffering from AI overwhelm or fear but need or want to keep up with the tech? “Leaders are under pressure to adopt AI or risk falling behind, but many don’t know where to start or even what problem they want AI to solve,” says global AI coach and author Leanne Shelton. Shelton breaks down AI business essentials at a macro and micro level in this human-first, holistic guide, with real-world examples and expert insights on everything from AI security and privacy, to legal requirements, ethical considerations and team training. Five readers can win a copy. In 25 words or less, tell us how you think AI could help you in your work. Enter online at…

AMP is in the news a lot lately. Now it has a new super feature called Super Lifetime, which could help retirees save more than $100,000 in the first 10 years of retirement, without changing how their super is invested. Available to members aged 58 and older, the feature works in the background of a member’s account to create a ‘concessional’ balance. This balance uses a lower, government-set deeming rate (currently 2.25%) instead of the actual super fund return. However, members must move their super into AMP’s Lifetime Pension account at retirement. As Centrelink uses this smaller concessional number to decide pension payments, members may then be eligible for an increased age pension. According to AMP’s Melinda Howes, independent analysis shows it’s expected to improve retirement income for 94% of…

It’s hard not to be drawn in by Paul Adam’s recollections of his father, Marcel. Born in north-eastern France, Marcel trained as a master pastry chef in Switzerland, fought in the Second World War and ended up working as a pastry chef in an English hotel frequented by Winston Churchill. After seeing an advertisement for the Snowy Mountains Scheme, Marcel packed his bags for Australia in the 1950s, first opening a bakery in Cooma before relocating to Sydney with his wife, Martha. Then in 1961 the couple opened a chocolate shop in the suburb of Pymble on the Upper North Shore: Du Plessy Pralin & Otello. “I still have the original lease from Petersons of Pymble, which was the merchant store at the time,” says Paul. “The original lease from…

QUAFF 2022 Bremerton ‘Coulthard’ Cabernet Sauvignon, $25 Langhorne Creek produces wonderfully approachable reds; with their best also having the depth of flavour and finesse to satisfy the fussiest wine lovers. This cabernet has powerful wild berry flavours and is deep and mouth-filling in the mid-palate. Its pleasing approachability and long, lingering aftertaste make it stand out. SPLURGE 2022 Glaetzer AmonRa Shiraz, $100 An outstanding Barossa shiraz sourced from Ebenezer in the north of the Barossa Valley. The vines range from 50 to 130 years old and are incredibly low yielding: while the wine is given first-rate treatment including 16 months in new (mainly French) hogsheads. The attention to detail is obvious in the finished wine: gently aromatic, ultra-smooth and wonderfully fleshy with blackcurrant and dark cherry flavours that linger. Seductive…

I have recently refinanced my owner-occupied property. I have some extra funds – around $550,000 – which I wanted to put towards either a second investment property around this price point or a franchise food business, which would require a similar investment amount. I think managing an investment property wouldn’t require a huge amount of effort. My husband owned a takeaway business in the past, which he found very tiring, and he is turning 46 this year. We have discussed our long-term future including retirement. We want to go ahead with the franchise, because we both think the franchise is a brand, and it has a business model and operations in place, which is much better than running a business yourself 24/7 with all its problems. But one of the…

A year ago, there wasn’t a lot of joy around for Gen Z and younger Millennials. This cohort of adults aged up to their mid-thirties typically couldn’t afford to buy a house without help from the Bank of Mum and Dad. They were saddled with an average tertiary debt of $28,000. Many could not afford to move out of the family home, and those renting found their rents rising. Parents are under enormous pressure to help their adult kids financially. I have friends who have sold their homes or raided their superannuation to unlock capital to help their children financially. Some are even delaying retirement and working into their seventies to help their children who are in their thirties. Some have moved closer to their children, who cannot afford to…

Would it really be the end of the world if Australian house prices fell? Is it something we may have to consider to ease our growing housing crisis where even middle income couples cannot realistically buy a capital city house without family backing? Add in lower income earners and singles and the picture looks even bleaker. Housing affordability – or lack of it – is probably the biggest issue facing Australians. And it has the potential to exacerbate all sorts of social problems that step from growing inequality. Labor won the 2025 Federal election with an increased majority, and it has a suite of solutions to the housing crisis, but experts are questioning whether these will be enough to make a sizeable dent in the problem. Fundamentally we need to…

In a move that will go some way towards addressing the ‘motherhood penalty’, from July 1 this year, parents taking time off work to care for their baby will get super on top of their Commonwealth paid parental leave (PPL) at the new rate of 12%. PPL will also increase from 22 weeks to 24 weeks in the new financial year and extend a further two weeks in July 2026 to 26 weeks. The introduction of super on top of the PPL payment is a significant change that will address one of the causes of gender inequality. The Association of Superannuation Funds of Australia (ASFA) says the median gap in super balances for those aged 60-64 between women and men is 25%. ASFA’s chief executive, Mary Delahunty says the drivers…

Pendal Focus Australian Share Fund An actively managed portfolio of Australian shares, which exhibits high conviction (15-30 stocks) ideas to deliver higher alpha. The fund aims to outperform the S&P/ASX 300 Accumulation Index over a five-year period or more. The team undertakes in-depth research across the market capitalisation spectrum to uncover an informational advantage relative to other market participants. Ausbil Australian Active Equity Fund Invests in a diversified selection of around 30 to 40 Australian large-cap quality companies, using a bottom-up stockselection approach that focuses on finding companies with positive earnings and earnings revisions profiles. The manager characterises the fund as ‘core’, taking advantage of both value and growth opportunities. Allan Gray Australian Equity Fund A long-only contrarian-style fund looking to beat the S&P/ASX 300 Accumulation Index. True to style,…

It’s been an unpredictable year for investors (but then, aren’t they all). Inflation is coming down, but slowly. Rates are going down, but only in part because of falling inflation and mostly because of global economic risks. And yet, amid the noise – and sometimes because of it – some sectors keep on keeping on. One of those is healthcare. Whether the economy is booming or on its knees, people still get sick, still need treatment, and still rely on the healthcare system. That makes healthcare companies – but only the right ones – a particularly interesting option for long-term investors looking to stay the course. And here in Australia, we’ve got a few crackers. CSL is the obvious poster child – a global leader in blood plasma and vaccines.…

I used to work for a second-hand car salesperson called Alex who specialised in classic cars – Jaguar XKs, E-Types, Aston Martins, AC Cobras, Trans Ams, Austin-Healeys, anything an investment banker would impulse buy (or at least, used to, in the 1980s). The name of the game was a lesson in stockmarket psychology. There are two things you had to do right: buy the car and sell the car. But of course, things were different in the 1980s, and the big advantage for a good salesperson like Alex was that the true value of classic cars didn’t really exist. There was no internet in those days and for a second-hand car salesperson the ignorance of their customers was bliss. It was much like the stockmarket today, people purport to put…

SUSAN HELY Columnist No more bill wrangling or forgetting who paid for what with an app called Tricount. It is a free, easy-to-use app that helps split bills. Whether you are a couple or a family, or going away with friends, Tricount does the maths after you put in who spent what. It calculates how much everyone owes or is owed. It is straightforward too. All you do is key in who paid for what when adding the transaction and it works out the split. See Susan’s column on 46. DAVID MATTHEWS Graphic designer A positive innovation is the online interface provided by energy retailers. Using data collected by the smart meter, it allows almost real time visibility into the amount of energy produced by my solar panels. As feed-in…

I sit across the desk from families who have ticked every textbook box – solid education, well-paid jobs, a home in a ‘good’ suburb, two kids in daycare – yet they still sweat the grocery bill. Today’s Aussie battler looks nothing like the bluecollar stereotype of the past. The new breed of battler earns a six-figure income, drives a serviceable SUV and owns a house that has ballooned in value, but every week has become a tightrope walk of credit-card balances, expensive grocery runs, childcare fees and mortgage repayments. Suburban squeeze Since 2022, rate rises have tacked an extra $1300 a month onto an average $800,000 loan. Selling the home and renting won’t ease the pain: median rents in many suburbs now match – or exceed – the mortgage they…

▶ MORE MONEY STORIES ON P40-48 Loyal to a fault? Aslim majority of Australians have never moved on from the first bank they signed up to, despite the potential for better value elsewhere. That’s the major takeaway from a recent survey conducted by Finder, which found that 51% of people have remained completely loyal to their original bank. While it’s not necessarily surprising that many younger Australians haven’t moved banks, the research revealed that nearly a third of Baby Boomers (30%) have never switched – meaning many will have been with the same bank for decades. There are plenty of reasons why people may want to stick with a bank. However, Alison Banney, money expert at Finder, says that customers may be paying a high price for their loyalty. “It’s…

AMP has become the first retail bank to launch a 10-year interest-only home loan for owneroccupiers without requiring a mid-term re-assessment. The loan is aimed at retirees and preretirees who want to reduce their monthly repayments and improve cashflow, without needing to sell or refinance. AMP Bank’s Michael Christofides says the product responds to the reality that more Australians are carrying debt into retirement. “Many [retirees] underspend out of fear of outliving their savings,” he says. “Our new interest-only loan provides financial flexibility for retirees and pre-retirees.” AMP says it also provides an alternative pathway into the property market, particularly for younger Australians through rent-vesting strategies. With an interest-only loan, borrowers pay just the interest on the loan for the set period, delaying repayment of the principal. This results in…

Need Paul's help? Send your questions to: Ask Paul, Money magazine, Level 7, 55 Clarence Street, Sydney NSW 2000 or money@moneymag.com.au. Paul can’t personally answer your questions other than in the Q&A column. By submitting your question to Money, you consent to having your question and the response you receive from Paul published in the print and digital edition of Money. Retiree Julie wants to ensure she and her husband are on the right financial track. Make sure your investments pass the 'sleep at night' test Q We are self-funded retirees in our late sixties. We have nothing in super as we didn’t want to pay the associated fees. We have one investment property earning $20,000 per year and cash in term deposits. What’s the best option for self-funded retirees?…

BREATHE EASY What is it? Dyson – Purifier Hot+Cool HP1 Nothing is quite as distracting or uncomfortable as being cold. But if you’re loath to run a large heating system, a standalone heater may fit the bill. As the name suggests, the Purifier Hot+Cool HP1 from Dyson can do that and more. The two-in-one system is designed to provide warmth in winter and cool in summer, while also acting as an air purifier. In fact, Dyson claims that the filter system can capture up to 99.95% of unwanted gases and pollutants inside the home. Users can monitor the air quality inside their home using the linked MyDyson app, and set schedules for the heater/cooler. Cost: $899 dyson.com.au PERFECT CUPPA What is it? Ember – Temperature Control Smart Mug 2 Ever…

What makes your question very interesting, Mandy, is that you are not asking me to contrast passive investment options, but to compare two very different opportunities – a very active investment option in a franchise, which would very much rely on your capital, business skills, effort and labour. This is the extreme opposite of a relatively predictable passive investment in a property where you collect rent and let capital growth reward you over time. The problem for me in answering you as well as I can, is that I have no personal experience of franchising. Sure, I have significant business experience, thanks to starting an investment business with my four partners back in the early 1980s. We grew ipac from a one-room serviced office, with a capital contribution of $20,000…

Every week more than 1.5 million listeners tune in to the Kyle & Jackie O commercial breakfast radio show on KIIS FM, to hear a variety of chat, music and, of course, the all-important, revenuebuilding advertising. The listeners hear the duo joke about – and graphically describe – a range of crude and, at times, harmful topics. Among these listeners is a group who call themselves Mad F***** Witches (MFW). This group is not listening for enjoyment, they are taking note of sexist, misogynist, racist and homophobic content. Most, importantly they are noting companies that advertise on the show. The activist group’s followers then email these companies to bring their attention to the objectionable content and lobby them to stop spending their advertising budget on the show. MFW calls it…

University students incur an average of $28,000 in debt for a typical degree, while TAFE students can avoid the burden of debt altogether. People aged 17 to 24 can study for free at TAFE as they are a priority group under the government’s free TAFE courses. For example: • A new student studying for a Certificate III in Carpentry in NSW would not incur the course fee of $2990. • In Victoria, a student training in the Diploma of Nursing could save up to $17,150. • In Queensland, a student training in the Certificate III in Electrotechnology Electrician was able to save up to $12,660. • A student studying a Certificate IV in Cyber Security in the ACT can save up to $3467 while a student enrolled in a Certificate…

BANK OF THE YEAR The winner had the highest overall composite rating scores across products and features, customer service and digital experience. Only national full-service banks were eligible to win this premier award. WINNER: MACQUARIE BANK BANK OF THE YEAR – DIGITAL The banking provider that achieved the highest overall rating scores for digital experience. WINNER: UP CUSTOMER-OWNED INSTITUTION OF THE YEAR Like Bank of the Year but only full-service customer-owned banks were eligible to win this premier award. WINNER: TEACHERS MUTUAL BANK BANK OF THE YEAR – YOUNG PEOPLE The banking provider that achieved the highest overall composite rating scores across products and features, customer service and digital experience from Money readers aged 18 to 34 years. WINNER: ING BANK BANK OF THE YEAR – RETIREES The banking provider…

Government paid parental leave (PPL) is a safety net provided to support parents to take leave at the important time of their child’s birth. Employer-funded parental leave can complement the government’s Commonwealth program. From July 1, parents will receive super contributions when they take time off to care for their babies, bringing PPL in line with other workplace entitlements. Payments are based on the national minimum weekly wage, which is currently $915.90 per week. Eligible parents with babies born or adopted on or after July 1, 2025 will receive an additional payment based on the superannuation guarantee, or 12% of their PPL payment, as a contribution to their nominated super fund. Parents will receive the contribution as a lump sum payment – including an interest component – following the end…