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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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Warner Brothers & Discovery considers splitting up to boost stock value

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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