Monthly Archives: August 2019

Through the cracks: The story of a little girl lost in Mandurah

The Mandurah Mail writes many stories about the achievements of remarkable young people, but this one is not like the others.
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The law means we can’t show you a photo of this particular 13-year-old’sbrilliant, hopeful smile or even use her real name.

We can’t tell you where she’s from or the complete story of the violence and abuse she has suffered at the hands of relatives.

But what we can tell you about Danni –this is not her real name–is both terrifying and inspiring.

For the past three weeks she has been staying in Mandurah after two months ago being thrown out of her home in Perth where she lived with her guardian.

In the middle of a cold July nightDanni was told to get out of the house with only the clothes on her back.

She waited outside a friend’s house until the morning, then –unlike so many homeless young people –went to school.

Withouttelling her teachers she didn’t have a place to sleep –because she was afraid –she borrowed a uniform and a school bag and went to class as though nothing was wrong.

For the following six weeksshe managed to eat at friends’ houses and arrange “sleep-overs”, only occasionally going hungry or sleeping in backyards.

But three weeks ago, she met a Mandurah mum who learnt about Danni’s circumstances and decided enough was enough.

Since then, Jennifer –again, not her real name – has worked overtime to get the authorities to take some kind of responsibility for Danni.

“She was taking herself to school,” Jennifer said.

“She’d been couch hopping for over a month and a half, and her family didn’t even wonder where she was, they weren’t even looking for her.

“When Danni told me what was going on, I said, ‘This is bulls**t’.”

She said she immediately rang Danni’s school in Perth and contacted the Department of Child Protection, but has felt she has been knocking her head against the wall, with phone calls unreturned and non-profits unable to assist.

Jennifer said she felt as though no-one was prepared to help.

“This is what I don’t get,” she said.

“These mums who were looking after her for a day or two or whatever, what are you thinking?”

Danni had spent most of her life moving from foster home to foster home, struggling to make friends and shifting schools regularly.

Jennifer was furious our community could let a 13-year-old girl live on the streets without a home while having the determination and self-discipline to take herself to school.

“You know what really p****s me off?” she said.

“But there has to be some means of government assistance in advising a young girl. Why hasn’t she been contacted once throughout this whole process?

“There is a breakdown in this stupid bureaucratic system and I can’t believe I’m only learning about it this way because I know there must be hundreds of kids out there that are doing this, and the government is just fobbing you off.”

She said the irony was that Danni would need her guardian’s permission to enrol in a new school in Mandurah, but that her guardian wanted nothing to do with her.

But Jennifer said she was inspired by the 13-year-old who she said would be in her life forever, come what may.

“You know what? She’s done it all on her own. The tenacity,” Jennifer said.

“She’s so brave and I’m so happy and I knew when I met her she was a good kid.

“She’s been reading books since she’s been here, she’s dug out homework from the old school.

“All she wants to do is go to school.”

Help is available by calling the Kids Helpline on 1800 55 1800 or by going to kidshelpline苏州夜总会招聘.au.

Facts and figuresThe latest statistics collected in Western revealed there were more than 5000 children under the age of 14 who accessed specialist homeless services in 2013-14.In 2016, a government report revealed 28 per cent of people accessing specialist homeless services were under the age of 18 and 18 per cent under 10-years-old.

How tax planning distorts the property market

20110528. BRW. Torquay. Generic Real Estate. Property, for sale, sold, housing, growth, development, housing market, greater melbourne, home, residential, real estate, home buyer, rent, lease, land, interest rates, building.Photograph by Arsineh Houspian. +(61) 401 320 173. [email protected]苏州夜总会招聘Far from encouraging efficient use of the housing stock and improving housing affordability, proposals to increase the capital gains tax payable on the sale of investment properties could well add to current housing problems. A concerned reader highlighted this point arguing that even today’s CGT levied on 50 per cent of the gain was deterring sales of his several inner-city properties.
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The large appreciation in their values because of inflation and their location means that selling these properties would generate a tax bill of slightly less than 20 per cent of their current value. Even if the property market weakens as expected, the fall in their values is unlikely to be as large as this.

CGT is payable only when a property is sold and by bequeathing them to resident heirs, the tax liability can be further postponed until their ultimate sale.

While not all investment property owners have been so fortunate in accruing such large gains, even smaller percentage gains can be subject to high tax rates for several reasons. The main one is that the applicable tax rate is calculated at marginal rates that increase as the owner’s other taxable income rises.

Also, unlike shares or other managed products that can be sold in small parcels over a number of tax years, selling a property will result in a bulky gain taxed in the one tax year. This increases the likelihood that the taxpayer’s marginal tax rate applicable to the gain will be high.

Recognising this fact, several overseas governments levy their CGT at a flat rate not dependent on the owner’s other taxable income. Clearly, the higher the CGT liability is, the greater the deterrent to realising the gain, especially when transfer in kind at death can further postpone the liability.

It’s most unlikely that a future government would be prepared to reduce the CGT payable on investment properties and property investors could even face higher tax rates. Therefore, new investors need to pay attention to ownership structures when purchasing properties.

For example, the negative gearing tax benefits increase the attractions of making the purchase in the name of a high marginal rate taxpayer. But this decision is also likely to increase future capital tax bills if, as is usual, the objective is to make a large capital gain. For properties likely to appreciate substantially over a relatively short period, ownership by a low-income taxpayer, discretionary trust or super fund can be a more attractive option.

Ownership structure decisions will be even more important if CGT rates are increased further, especially because capital appreciation is such a large component of the returns available from property ownership.

Daryl Dixon is the executive chairman of Dixon Advisory. [email protected]苏州夜总会招聘.au

[email protected]: ASX set to open higher as Wall St steadies

The information of stocks that lost in prices are displayed on an electronic board inside the n Securities Exchange, operated by ASX Ltd., in Sydney, , on Friday, July 24, 2015. The n dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg MARKETS. 7 JUNE 2011. AFR PIC BY PETER BRAIG. STOCK EXCHANGE, SYDNEY, STOCKS. GENERIC PIC. ASX. STOCKMARKET. MARKET.
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Stock information is displayed on an electronic board inside the n Securities Exchange, operated by ASX Ltd., in Sydney, , on Friday, July 24, 2015. The n dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg

Risk trends across the global financial spectrum stabilised this past session, but it didn’t pace much in the way of significant recovery. That is somewhat surprising considering the US government seems to have bought reprieve from the next debt crisis bearing down on the country. Yet, despite the encouraging news, US equity indexes showed little progress beyond the initial gap higher won through the Wednesday open. Meanwhile, the onus of North Korea tension and a mixed backdrop of global monetary policy – normalisation that exposes increased risk taking versus a scramble back to the extreme end of the curve to suggest a troubled future – are still rolling around in investors’ minds.

1. Wall Street: Most of the action for US equities was seen on the open – meaning it was more a reflection of the bounce in sentiment registered in European hours rather than significant course correction into the New York hours. Through the end of the session, the S&P 500 closed up 0.4 per cent (2,467), the Dow 0.25 per cent (21,808) and Nasdaq 0.3 per cent (6,393). That was performance generally in line with the outcome for Euro Stoxx 50 Index. For volume, the day’s turnover was still elevated from the previous three week’s average; supporting the seasonal shift that is often attached to the the August to September transition. Furthermore, the VIX remains at 11.7. A higher resting rate for implied volatility likely speaks more to market activity and opportunity for traders than fear and risk to investors. This popular volatility measure is still well below the past three-year average of 15.

2. US debt ceiling relief but North Korea risks linger: The most surprising news through this past US session was President Donald Trump’s unexpected support of the Democratic Party’s proposal to fund the government and increase the country’s debt limit by three months. That effectively disarms the impending threat of a third debt ceiling standoff in the US in six years. Back in 2011 and 2013, the brinkmanship drew the country right to the edge of a financial cliff that threatened to through global markets into a crisis as the world’s preferred ‘risk free’ assets (Treasuries) were cast deep in shadow. The first standoff earned the US a cut to its sovereign credit rating from Standard & Poor’s which maintains a serious blemish to the country’s pristine safe haven status. It was remarkable that there was not more of a rebound in risk assets following this news. Perhaps there are concerns that GOP republicans would not support the initiative or maybe the concern truly rests with the unresolved North Korea escalations. Yet, it is just as likely that we are seeing that complacency – which has been the primary feature of the financial landscape – can curb risk taking as readily as fear at this stage.

3. n dollar: While the Aussie Dollar registered some significant movement against the New Zealand Dollar (gains) and Canadian Dollar (losses), this progress was almost exclusively the reflection of more motivated counterparts. From the most liquid pairings – AUD/USD, EUR/AUD and GBP/AUD – there was virtually no change on the day. The robust 0.8 percent 2Q GDP reading from yesterday’s session that was also slightly cooler than economists’ consensus seemed to hold little lasting influence.

4. ASX: The ASX200 is due a strong open Thursday with the general stability from the previous US shares session carrying over. Wednesday, the best performing sectors were energy and industrial with the worst showing from financials. Looking at the S&P 500’s breakdown, energy offered a significant acceleration of performance with a 1.6 percent climb while financials were green to the tune of 0.2 percent.

5. Surprise bank of Canada hike: The Bank of Canada surprised the market’s Wednesday when Governor Poloz and crew announced another 25 basis point hike to the benchmark rate that brings the Loonie’s yield to a competitive 1.00 percent. This was not completely unexpected as the group moved at its meeting in July and the market afforded a 44 percent probability of a subsequent move according to overnight swaps. That said, the audacious pace compared to a far more constrained Fed and other global peers who are not comfortable with even discussing normalisation makes the Canadian Dollar look even more stately as a carry currency. The response was remarkable with USD/CAD dropping over 2 percent immediately following the news. The currency posted gains against all of its major counterparts, but some of the drive eased back through the remainder of the session. At this point, the Loonie is the only traditional, liquid carry currency that is raising rates and it is now moving at a faster pace than the Fed. The premium this affords the currency is significant, but how much reach this affords depends on how aggressively the market is reaching for yield.

6. ECB moves to deflate expectations: With the Bank of Canada and Reserve Bank of policy decisions setting the extremes for how market moving such events can be (the former extremely, the latter not at all), the European Central Bank seems to be interested in following the RBA’s lead. The Eurozone policy authority once again used its unofficial channels to guide market expectations. Last week, unnamed officials ‘familiar’ with the situation suggested more voting members were concerned with the climb from the Euro. This past session, a similiarly described source let leak to Bloomberg that a plan to reduce its balance sheet would not be reached before October. It is highly unlikely that these are rogue leaks from staff. Rather, this is almost certainly an effort of forward guidance to help shape market reactions without having to put the bank’s credibility on the line if it fails in the endeavor. Watch for the ECB decision later today as this is arguably the developed world’s most dovish effort.

7. Commodities: Softs saw robust performance through this past session with particularly strong showing in sugar and corn. Closer to home wheat and live cattle prices however were more restrained in performance. It is the energy complex that holds he most promise for Thursday’s session. Crude oil prices climbed another 1 percent which has shown some spill over to natural gas and coal. For metals, ore, gold and aluminium had descending performance from 0.6 per cent gain down to a 1.1 per cent loss.

8. Market Watch:

SPI futures up 17 points or 0.3% to 5691

AUD +0.05 per cent to 0.8000 US cents

On Wall St, Dow +0.41 per cent, S&P 500 +0.42 per cent, Nasdaq +0.39 per cent

In New York, BHP +1.11 per cent, Rio +0.68 per cent

In Europe, Stoxx 50 +0.38 per cent, FTSE -0.25 per cent, CAC +0.29 per cent, DAX +0.75 per cent

Spot gold -0.51 per cent at US$1332.81 an ounce

Brent crude +1.31 per cent to US$54.07 a barrel

Iron ore +0.59 per cent to US$86.847 a tonne

Dalian iron ore at 554.0 yuan

LME aluminium (cash) -1.19 per cent to $US2072.25 a tonne

LME copper (cash) -0.25 per cent to US$6869.50 a tonne

10-year bond yield: US 2.11 per cent, Germany 0.35 per cent, 2.60 per cent

This column was produced in commercial partnership between Fairfax Media and IG

Minister Christopher Pyne corrected for his cattle breed mistake

Christopher Pyne posted this image on his Facebook page with the caption: At the Royal Adelaide Show hanging out with the Santa Gertrudis!
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WITH so many new breeds in the beef industry today, sometimes it can be difficult to distinguish them.

But when you’re a minister of the Commonwealth, at the Royal Adelaide Show, you really have to get it right.

For those in the know, telling a Speckle Park and Santa Gertrudis apart is a straight-forward business.

But if you’re not a quick check before a social media post is probably a good idea..

And for that, Minister for Defence Industry, Christopher Pyne, who has come under firefor his breed misidentification.

While visiting the Royal Adelaide Show, Minister Pyne posted a picture on Facebook standing beside a Speckle Park animal only to caption it “hanging out with the Santa Gertrudis”.

Mr Pyne was quickly corrected in the comments by Facebook users who weren’t afraid to add in their own humor to their responses.

Sherilyn Birch said in her comment,“Before Ipass judgement on these santas, Iwould like to acknowledge the idiot presenting himself as a cattlemen in front of Speckle Parkcattle. I have place(d) this individual in last place based completely on his poor stature, feminine head, lack of depth and inability to step out properly. He lacks presence and Iam doubtful of his reliability in seasons to come. Thank you.”

O’Hara Lowlines said, “Perhaps young Christopher Pyne could recommend a NAPLAN test for politicians. On the other hand, this is a specsavers moment if ever I have seen it.”

It is understood Mr Pyne knew he wasn’t standing in front of Santa Gertrudis cattle but had just finished looking at them before posing for a photo.

Mother!, starring Jennifer Lawrence, is genius. Or crap

“Holy. Crap.” That’s the two-word review someone, somewhere, will surely give Darren Aronofsky’s Mother!, which debuted at the Venice Film Festival on Tuesday after months of utter secrecy. This is a film so out there, so bold, so borderline insane that it practically begs the haters to hate.
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From the acclaimed director of Black Swan, Requiem for a Dream and Noah, Mother! is a mad, sprawling, wildly ambitious piece of work that is one long metaphor for ??? well, a whole bunch of things, including creativity, celebrity culture, religious mania, environmental degradation, the rise and fall of civilisation and, of course, motherhood. That the director and the star are romantically involved adds to the complexity, but explains none of it.

Is it holy? In parts, absolutely. Is it crap? I’m not so sure, though plenty of people will say so.

There have been reports already of raves and boos in Venice. That’s par for the course at the big international festivals – if there isn’t at least one film from a big-name auteur dividing audiences like that, it’s considered a dud year.

The first reviews have been similarly mixed. Variety’s Owen Gleiberman called it “a movie that’s about everything and nothing”. The Playlist called it “Aronofsky’s most bombastic, ludicrous and fabulous film”. In Vanity Fair, Guy Lodge said it was a “pained, deranged provocation” that makes “Black Swan look like an episode of Murder, She Wrote” before confessing “the longer I sit with Mother!, the more moved I am by its madness”.

It’s that kind of movie – even those who respond to it will struggle to find words to say exactly why they do so. Unless they hate it, in which case it’s easy. Holy. Crap.

I saw it in Melbourne at roughly the same time it was being unveiled in Venice. I had to sign a form at midday in which I pledged not to write anything about it – not even a tweet – until the embargo was lifted. At 5pm that day.

On the way into the cinema, that struck me as laughably mad. On the way out, it struck me as suitably inspired, a mildly lunatic directive that was of a piece with the movie itself. Logical, in an utterly illogical way. Or vice versa.

The story, if that’s the right word for it, goes something like this. A woman (Jennifer Lawrence, billed only as “mother”) lives in a massive Victorian mansion in the middle of a paddock, surrounded by forest, with her husband (Javier Bardem, billed as “Him”). It was his childhood home, but it burned down; now mother is painstakingly rebuilding it while her poet husband struggles with writer’s block.

One day, a visitor turns up (Ed Harris, “man”). He claims to be a doctor looking for lodgings, but he’s actually a rabid fan. Soon he is joined by his wife (Michelle Pfeiffer, “woman”), and others quickly follow. There is a murder, then a home invasion, and finally a descent into utter bloody chaos.

Through it all, the house seems to be alive. When mother leans against a wall, she can hear its heart beat. When blood is spilt, it seeps into, and from, the very fabric of the building.

Is it a haunted house film? The trailer would lead you to think so, and that would be only a little misleading. There are real echoes of Roman Polanski’s Repulsion, a masterful portrait of mental decay in an apartment that seems to turn on its female inhabitant (Catherine Deneuve). Much of Mother! is shot from mother’s point of view (echoes here of the superb Holocaust film Son of Saul), but it’s hard to escape the sense we’re being dragged inside the mind of a character whose perspective is far from reliable.

But there’s so much else going on here than mere madness. Haunted or otherwise, that house comes to stand as a symbol of civilisation itself, just as mother stands for all mothers, for Mary the blessed mother, for Mother Earth. Giver of life, protector, pawn and victim.

Him is the creator, the needy God craving the adoration of his acolytes, as blind to the needs of his family as he is sensitive to the wants of the world.

It’s a portrait of a marriage in decay, of a loving couple torn apart by new parenthood. It’s a madcap, surreal comedy, in the style of Luis Bunuel, of a bourgeoisie rendered impotent by its own good manners.

There is so much going on in Mother! that it is almost impossible to say what it is about, other than to say that like much of Aronofsky’s work it is about spirituality, human suffering, and a quest for purpose amid the chaos of existence.

It overflows with potential meanings. Hell, that exclamation mark alone will doubtless spawn a multitude of interpretations.

I’m not sure if that makes it a good movie, much less an enjoyable one. But does it make it the most interesting, and probably most divisive, film of the year? Holy crap, yes.

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