Here’s what you need to know today

• The first quarter of the 2025 financial year has come to a close, and it has been great for Australian investors. The ASX 200 has had its best September quarter since 2013. And remember, this is a quarter that included the “horror global bloodbath” in early August.
  
  

• Australian Treasurer Jim Chalmers has delivered the latest Australian government budget, delivering a surplus for the second consecutive year. The $15.8 billion surplus was well above expectations driven by lower federal government spending.
  
  

• Within the budget there is a story about income tax that can be reported in very different ways. One version of the reporting tell us revenue from income tax and company tax fell. The other way to report it is that income tax as a percentage of government revenue was the highest in 25 years. Two ways of reporting the same information that would lead to different policy solutions.
  
  

• The kingmaker in the competition to become the next CEO of Nine Entertainment has stepped down. Bruce Gordon, owner of WIN the regional broadcaster that owns 25% of Nine, is retiring at the age of 95. Reports are, however, he’ll still be involved in the Nine CEO decision.
  
  

• The UK has officially shut down its last coal-fired power station. This brings to an end a 150-year history of British coal power that was synonymous with the industrial revolution since the world’s first coal-fired power station was built in London in 1882. Britain aims to decarbonise electricity by 2030 and become carbon neutral by 2050.
  
  

• The UK isn’t alone in phasing out coal-fired power stations. Italy plans to phase out coal-fired power by 2025, France by 2027, Canada by 2030 and Germany by 2038.
  
  

• Britain’s Sky has sued Warner Bros Discovery claiming it violated a deal that gave it the right to co-produce shows. The show at issue, a television adaptation of J.K. Rowling’s Harry Potter that is expected to air in 2026. Sky believe lost revenue from not being involved will be hundreds of millions of dollars.
  
  

• Boeing is reportedly back at the table with the striking machinists. The union represents 33,000 Boeing workers that want a 40% raise, Boeing has said its best offer is 30%. Reports are, the strike is costing Boeing $50 million a day.
  
  

• 85,000 US dock workers are preparing to strike if a pay deal is not reached by 1 October (i.e. today). If they do strike it could cripple the container ship industry and lead to shortages and price strikes of everything from food to pharmaceuticals to cars.

What the…?

German labour unions are up in arms after Tesla’s latest practice to check on sick workers. Managers have been showing up at workers homes and knocking on their doors to check if they are truly sick.

The company is reporting workers off-sick at three times the industry average as Tesla works to roll out mass-market electric vehicles.

Investing is a lifelong journey

Here’s what you can learn today.

Question from the Equity Mates community: When is it worth refinancing your mortgage? How often should you be checking if you can get a better rate?

We put this question to Chris Bates, mortgage broker and cofounder of Flint.

You have to refinance. The reason you do it is because the banks don't look after you.

If the banks looked after you, then you probably wouldn't have to refinance every few years because you'd always be on the best rate in the marketplace. But if you type into Google ‘loyalty tax mortgages’ you'll see that there's been inquiries on this. What happens is the banks basically take advantage of you. They play on your apathy, right? So they say, ‘I've got you on this good deal. I'm not going to give all my existing customers good deals. I'm just going to give my new customers better deals.’ And what they do is they just rely on you not reviewing your mortgage.

Bit by bit, you fall more and more out of the marketplace. So if you don't look at your home loan probably every 12 months, that could be 10 or 20 or 30 basis points. And over years, it could be 50, 60 basis points. That's the reason you have to review your mortgage.

Want to speak to Chris and check your rate? Fill out the form on our website and we’ll put you in touch.

Today’s sponsor is First Sentier Investors

How to target growth on the Australian share market

What is the secret to beating the market? Actively targeting Australia’s growth engine – high quality growing companies listed on the ASX – according to First Sentier Investors.

Since 1993, every wholesale fund managed by its Australian Equities Growth team has outperformed the share market over the long term¹.

Their selection of high-quality growing companies can power tax effective, geared and concentrated portfolios as well as exposures that look beyond the ASX 20 giants.

Thinking about new ways to target growth on the Australian share market? Think First Sentier Investors.

¹ Past performance not indicative of future performance. As of August 2024, net of fees.

Want more Equity Mates?