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Should going to the gym be tax deductible?

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As Australians grapple with rising living costs, one industry is feeling the pinch more than most: fitness.

Whenever the cost of living rises, gym memberships seem to be among the first expenses to go, according to gym owner Amanda Heffernan.

But now, a lobby group for the fitness industry, AUSactive, is pushing for a change.

They’ve written to the federal government, advocating for tax-deductible gym memberships as part of a broader preventative health plan.

AUSactive’s CEO, Barrie Elvish, stresses the urgency of the situation, calling the current state of the health system “unsustainable.”

He argues that investing in preventative health measures, such as incentivising gym memberships, could save the government billions of dollars by keeping people healthier for longer.

Public campaign

The proposal for tax-deductible gym memberships is part of a three-point plan that also includes expanding fringe benefits tax (FBT) incentives for corporate gym memberships and launching a public messaging campaign to promote healthier lifestyles.

The importance of preventative healthcare cannot be overstated.

Countless studies have shown that physical exercise is crucial for preventing a range of non-communicable diseases, including heart disease, diabetes, and certain types of cancer.

The World Health Organization (WHO) identifies insufficient physical exercise as a significant risk factor for mortality, responsible for millions of deaths each year.

Despite the clear benefits of exercise, Australia lags behind other wealthy nations in investing in preventative health.

The Grattan Institute warns that without significant investment in preventative health programs, Australia is heading towards a future plagued by avoidable illness and disability.

Dr. Michael Wright, a health economist, said that even small changes, such as walking more or taking the stairs, can have a significant impact on overall health.

While gym memberships can be costly, there are also free resources available online, and individuals are encouraged to speak with their healthcare provider for personalised advice.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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