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Here’s what you need to know today

• The ASX monopoly is no more. Australia’s corporate regulator, ASIC, has signed off on rival exchange Cboe listing companies on its platform. Now Australian companies will have a choice when listing in Australia between listing on the ASX or Cboe, similar to American companies choosing between NYSE or Nasdaq. (Capital Brief)
  
  

• With oil and gas prices falling, the Australian government is expecting a 25% fall in export earnings from LNG (liquified natural gas). From the LNG export revenue peak of $92 billion in 2022-23, it is expected to drop to $48 billion in 2026-27. (AFR)
  
  

• The consolidation in Australia’s Superannuation industry continues. Aware Super and Telstra Super have signed an agreement to merge into a giant Super fund that would manage more than $235 billion on behalf of 1.3 million members. (Capital Brief)
  
  

• France is down another Prime Minister. Sébastien Lecornu has resigned after less than a month on the job after his coalition allies rejected his proposed cabinet. France has now seen five Prime Ministers resign in two years. Calls for President Emmanuel Macron to call an early election grow louder, but so far he has refused. (ABC News)
  
  

• More good news for Novo Nordisk and Eli Lilly. The European Association for the Study of Obesity has issued new guidance nominating the GLP-1 drugs Novo Nordisk’s Wegovy and Eli Lilly’s Zepbound to be the first choice in treating obesity. This follows the American College of Cardiology in June changing its guideline to recommend GLP-1’s as the first line of treatment for obesity rather than diet and exercise. (Quartz)
  
  

• OpenAI has struck a deal with chipmaker AMD, that could see the AI leader take a 10% stake in the company. AMD shares were up 24% on the day. (Quartz)
  
  

• The lack of China studies at Australian universities has become a national security concern. Between 2017 and 2021, only 17 Australians completed an honours program in Chinese studies with language. The has led to Australia’s House of Representatives’ education committee launching a review into the education system’s engagement with Asia. (AFR)
  
  

• Federal courts in America have given the Trump administration mixed messages about their deployments of national guard troops to American cities. One federal judge blocked the administration’s deployment to Portland, Oregon while a different federal judge temporarily allowed the deployment to Chicago, Illinois. (NPR)

What the…?

One of US President Trump’s most popular proposals in the 2024 election was ‘no tax on tips’. It was recently made into law with the passage of Trump’s Big Beautiful Bill and there has been a surprising winner: podcasters.

The law allows eligible workers to deduct up to $25,000 in income made from tips from their tax returns. And the Treasury Department’s list of qualifying occupations includes podcasters, social media influencers, streamers, and other digital content creators.

While it is unclear where the line on tipping will be drawn, tax experts believe users giving creators money directly over Twitch, TikTok, YouTube, Patreon and similar platforms may all qualify under the law. (Quartz)

Investing is a lifelong journey

Here’s what you can learn today

Managing money as a couple

Community Question: What’s your philosophy when it comes to couples and setting up their finances? Everything shared/ joint accounts? Some money on the side?

We put this question to Glen Hare, financial adviser and cofounder of Fox & Hare

When it comes to couples and their finances, I generally advocate for joint goals and shared finances, especially as the relationship progresses and shared goals become larger and more involved e.g. buying a home, starting a family, etc.

What I usually see at Fox & Hare Financial Advice is that one partner is a lot more engaged with the numbers and places a larger emphasis on personal finance. They’re sometimes surprised when I push for the less engaged partner to start paying more attention but it's essential that both are aligned on financial goals and strategies. If one person takes on all the financial planning while the other remains disengaged or overspends, it can create significant problems down the line.

Sharing finances also offers practical advantages. For instance, structuring investments in the lower-income earner's name can potentially reduce the overall tax burden for the couple.

Of course, every relationship is different, and some couples prefer to maintain separate finances, which is perfectly understandable. The key, regardless of the approach, is open and honest communication about money, goals and what the future looks like. I don’t think we are talking about the fact that choosing a partner is a major financial decision enough. It’s true, even though we rarely think of it that way.

When we share our lives with others our shared expenses, joint goals, and even debt become intertwined. I f we select a partner with mismatched financial values and habits that can breed conflict while, in my experience, a shared approach to finance can strengthen the relationship's foundation.

Combining finances offers several benefits, including:

• Transparency: Joint accounts provide a clear picture of income and expenses, promoting trust and understanding.

• Simplified Budgeting: Managing finances from a shared pool streamlines budgeting and bill payments.

• Shared Goals: Pooling resources makes it easier to save for common objectives like a house or extended holiday..

• Tax Advantages: As mentioned earlier, there can be tax benefits to structuring investments strategically.

For me, the ideal approach to managing finances in a relationship depends on the couple's unique situation and preferences. However, the cornerstones of financial success in any partnership remain the same: open communication, shared goals, and a willingness to work together.

Want to speak to Glen or another of our hand-picked financial advisers? Fill out the form on our website and we’ll put you in touch.

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