I have another rebus puzzle for you today. As a reminder, a rebus puzzle conveys a phrase which is a common idiom or expression. For these kind of puzzles, you need to look at things like the word placement and numbers to solve the puzzle.

Answer is in the tidbit!

Quote of the day
“All retail workers, whether they’re a casual in their first job or doing the night shift at the local convenience store, have a right to feel safe at work.”
Australian Retailers Association Chief Executive Paul Zahra on proposed laws in Western Australia to strengthen penalties for people who assault retail workers.

Stat of the day
202.4 million
How many Americans watched at least part of the Super Bowl this week, making it the biggest broadcast in U.S. history.

Today in history
1966
Australia’s official currency became the dollar, replacing the pound.

Some headlines from this morning:

Asbestos has been found in several locations across Sydney in recent weeks. Inhaling asbestos particles can cause life-threatening diseases, including cancer.

The toxic material has been discovered in garden mulch, which is put on top of soil.

NSW Premier Chris Minns said the multiple discoveries were “completely unacceptable”. Authorities are investigating how asbestos ended up in the mulch.

What is asbestos?
Asbestos is a naturally occurring mineral found in soil or rocks. It has previously been used in home insulation. When broken up, asbestos can release toxic particles into the air.

There are two different types of materials containing asbestos: friable and non-friable.

Non-friable materials include asbestos mixed with other substances like cement, and won’t release asbestos fibres unless damaged. However, friable materials can easily crumble to release asbestos.

Rozelle
Last month, asbestos was found in a newly opened park above the Rozelle interchange in Sydney’s inner west.

Garden mulch used around the children’s playground was found to contain traces of non-friable asbestos. The parkland has been closed off to the public.

Parks
The City of Sydney Council confirmed recent testing identified asbestos in several parks. It said it’s still conducting tests at a further 30 sites where contaminated mulch is suspected.

Non-friable asbestos was found in mulch at Victoria and Belmore Park, both near Sydney’s CBD. Mulched areas have been closed off to the public.

Friable (more dangerous) asbestos was discovered at Harmony Park in Sydney’s inner east. The entire park has been closed while cleaning to remove the toxic material continues.

School
Asbestos has also been discovered at a primary school in Sydney’s south west.

NSW Environment Protection Agency (EPA) said Liverpool West Public school would shut for two days as it conducted testing for mulch found at the school.

NSW Govt
NSW Premier Chris Minns said the NSW Environment Protection Agency is considering a possible mass recall of the mulch, as it investigates whether the product was distributed anywhere else.

A Government proposal aimed at increasing home ownership among low-income earners has divided Senators.

The “Help to Buy” scheme would see the government contribute to the purchase of a home, in exchange for split ownership of the property.

With the Coalition against the proposal, Labor needs the support of the Greens and independents to get its reforms through the Senate (upper house).

However, the Greens said they won’t support the measures unless the government scraps tax discounts for people who own multiple properties.

Buying a home
To buy a home in Australia, a purchaser is required to pay an upfront deposit worth about 20% of the sale price. The rest of the purchase can be made with a mortgage — a bank loan that you pay off over time with interest.

According to property data analyst CoreLogic, property values have soared from a national average house price of $552,200 in 2019 to $759,400 in 2024.

That’s an increase of nearly 38% in five years.

Help to buy
Under the proposal, a person could pay a minimum 2% deposit to purchase a home. The government would provide ‘equity’ worth up to 30% of the property’s value, or 40% for new builds.

Equity means the government would be a part-owner of properties under the scheme. It would also be entitled to up to 40% of a property’s value when it’s sold.

The government argues the 2% deposit is a more realistic target for many Australians, while the government’s equity would allow owners to apply for smaller mortgages.

The government introduced its Help to Buy Scheme to Parliament in November.

Under the proposal, 40,000 people could access the scheme over four years.

To be eligible, a person must be a first-home buyer, and must not earn more than $90,000 per year, or $120,000 for couples. If a homeowner’s income increases above these caps, they could be made to repay the government’s equity.

Property price caps (depending on the area. e.g. $950k in Sydney, $400k in regional South Australia) will limit which homes can be purchased under the scheme.

Greens debate
The government will need support from the Greens and a handful of independents to pass its housing reforms.

However, the Greens are concerned the 40,000-buyer cap will create a “housing lottery” and pit hopeful home owners against each other.

Greens leader Adam Bandt said his party will negotiate with the government on its proposal, but that he wants action on negative gearing and capital gains tax concessions.

Negative gearing
Australians who own multiple properties may lease them out to renters.

If a property’s mortgage repayments are higher than the rental income it makes, an owner may be eligible for tax relief called ‘negative gearing’.

For example: If a landlord receives $20,000 in rental income per year for a property with a mortgage that costs $25,000 per year, they will record a loss of $5,000.

That loss can be taken off the property owner’s taxable income — meaning they can end up paying less tax.

Capital Gains tax
When you own something (an asset: e.g. a house) and then sell it, you might sell the asset for more than what you bought it for. That’s called making a capital gain, which is just another term for “personal profit”.

For instance, if you sell some shares in a company for $500 more than what you bought them for, then you are required to include that profit in your income tax for the year (e.g. your salary + $500).

If you’ve owned the asset for more than a year and live in Australia, then you can get a tax discount for the “capital gain”.

Greens vs Labor
The government is not expected to negotiate on the Greens’ proposal, meaning it will try to pass the Help to Buy scheme in its current form.

Greens spokesperson Max Chandler-Mather called the scheme “hard-to-get” and said it risked driving up house prices.

Housing Minister Julie Collins urged the Greens to support the scheme, accusing them of “standing in the way of vital new assistance to help renters into the security of home ownership”.

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Housing affordability is something that we talk about a lot at The Daily Aus, and the ins and outs of it can get confusing.

Today on the deep dive, we're breaking down what the 'help to buy' scheme is that the federal government are proposing and whether it could actually help you buy your first property.

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The largest purpose-built platypus conservation centre in the world has opened up in Dubbo, NSW.

The new research, rescue, and rehabilitation centre at Taronga’s Western Plains Zoo is aimed at helping to facilitate the release of rescued platypuses back into the wild and protecting population numbers from the impacts of climate change.

We couldn’t finish today’s newsletter without mentioning it is of course Valentine’s Day today.

If you’re in South Australia, love is in the air! Queensland, not so much.

According to new data from Australia Post, the biggest spike in deliveries in the lead-up to Valentine’s Day was in SA (where parcels increased by 7%). Queensland, on the other hand, saw the smallest increase, with deliveries up just 0.5%.

If you’re looking for ideas on how to espresso how much someone beans to you, the most popular Valentine’s Day delivery was coffee, closely followed by underwear/lingerie.

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Riddle answer: Try to understand.