QUEENSDLAND'S RESOURCE sector is making further inroads into bringing down the state’s unemployment rate by investing in new projects and expanding existing activities, said the Queensland Resources Council (QRC). 

QRC chief executive Ian Macfarlane said ahead of today's ABS jobs data the resource sector was already doing the heavy lifting with more than 1,300 jobs available in mining, resources and energy on the employment website Seek.

“These are long-term jobs and can provide education and training to advance employees into the next stage of their careers,” Mr Macfarlane said. 

“Our sector continues to drive economic opportunities in all corners of the state with more than $14 billion in new or commissioned projects this year alone.

“The mining industry has by far the highest average weekly full-time adult earnings of any industry at $2659 – or over $138,000 per annum. Over 75 percent of these current vacancies pay $100,000 or more which is income that flows through to the butcher, bakery and hairdresser. 

“In the Mackay region there are more than 500 vacancies, 84 in Rockhampton and the Capricorn Coast, 65 in Townsville, 80 in Mount Isa, 38 across the Darling Downs and in the nation’s biggest mining town Brisbane there are 372 jobs. 

“Premier Palaszczuk highlighted the importance of the resource sector’s contribution to employment at the QRC’s Annual lunch last November and the resources sector shares the Government’s ambition. 

A report by CSIRO found people wanted industry and government to work together with communities and wider society to promote effective, constructive, and mutually beneficial relationships.”

The Queensland resources sector supports more than 316,000 full-time jobs and contributed $62.955 billion to the State’s economy in 2017/18. The sector also contributed more than 80 percent of the State’s exports with overseas sales of Queensland coal, metal and petroleum increasing to more than $60 billion, propelling Queensland exports to a record $81 billion in 2018. 

www.qrc.org.au

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FINANCIAL services information publishing company Rainmaker Group announced today that it has completed its transaction with Bauer Media to acquire Money magazine.

Following the purchase, Money magazine will become Rainmaker’s key consumer title under its media division, Financial Standard. It currently publishes five B2B titles, including its flagship newspaper, and three B2C titles: The Good Super Guide, The Good Investment Guide and The Good Economics Guide.

“This is our first major acquisition since our media division, Financial Standard, was established in 2003. While we have steadily built our business in trade media, this acquisition meets our longer-term objective of growing our consumer media platform,” said Christopher Page, founder and group managing director of Rainmaker.

Following the deal, Rainmaker Group has announced new leadership roles. 

Michelle Baltazar, executive director of media at Financial Standard, will assume the role of editor-in-chief. 

• Darren Snyder, editor of Financial Standard, will move to the role of managing editor of Money

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Jamie Williamson, associate editor of Financial Standard’s magazine FS Advice – The Australian Journal of Financial Planning, will move to the role of editor at Financial Standard.

Money editor Effie Zahos and deputy editor Maria Bekiaris will provide Rainmaker Group and Financial Standard with their editorial services to assist with the transition. However, they have chosen not to continue past the transition period.

“We hold Effie and Maria in high regard and wish them well in their future endeavours. Effie’s strong leadership and editorship has enabled Money  to boast the loyal reader following that it has today,” Mr Page said.

The Money team, namely Ann Loveday (art director), Sharyn McCowen (online content producer), Bob Christensen (senior sub-editor), Debra Duncan (senior sub-editor) and Simon Park (brand manager) will move across to Rainmaker’s offices, effective March 25, 2019.

Award-winning finance author and financial literacy advocate Paul Clitheroe AM will continue in his role as Money’s chairman and chief commentator.

“We’re excited to work with an incredibly talented and passionate group of people. They have built a solid foundation from which we can further grow Money’s reputation as the leading source of personal finance news and expert advice,” Ms Baltazar said.

Established in 1999, Money is Australia’s longest running and most-read personal finance magazine.

About Financial Standard

Financial Standard is the publishing division of Rainmaker Group. Financial Standard  is focused on providing trade news and investment analysis for professionals in superannuation, financial planning and wealth management. Established in 2003, Financial Standard also publishes FS Advice - The Australian Journal of Financial Planning; FS Super – The Journal of Superannuation Management; FS Private Wealth – The Journal of Family Office Investment; FS Managed Accounts – The Journal for Managed Account Professionals. It also publishes three B2C titles: The Good Super Guide, The Good Investment Guide and The Good Economics Guide. www.financialstandard.com.au

About Rainmaker Group

The Rainmaker Group was founded in 1992 and has established a reputation as a leading financial services information company in Australia providing market intelligence, industry research, media and publishing, events and consulting services. Rainmaker produces strategic, tactical, and analytical information about the financial services industry predominantly for superannuation funds, investment managers financial planners and consumers. The Rainmaker Group comprises: Rainmaker Information, Financial Standard, FS Aspire CPD, SelectingSuper, SelectAdviser and SuperGuard360. www.rainmaker.com.au

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TODAY's release of SQM’s research is the latest in a series of economic modelling critical of Labor’s housing tax policy to increase capital gains tax and restrict negative gearing, according to Master Builders Australia.

“Previous research commissioned by Master Builders Australia has shown that the ALP’s policies would result in an up to 42,000 reduction in new home building activity,” Master Builders CEO Denita Wawn said. 

“Given the indications of weaker than expected economic growth this is the exactly the wrong time to be discouraging investment in housing. All current incentives should be kept on the table,” she said. 

“Instead of just saying ‘No We Can’t’, Labor needs to stop fobbing off and ignoring legitimate questions about the impact of its housing tax policy and rethink their policies.

“Housing market conditions are already in sharp decline – unfavourable policy changes would make things even worse. Even in the absence of NG/CGT changes, new home building starts are likely to decline from over 230,000 to about 175,000 over the next couple of years,” she said. 

“Labor continues to argue that ‘grandfathering’ will neutralise any negative impact of their policies and protect against future shocks to the housing market but the evidence we do have from the Hawke-Keating era and Cadence Economics modelling is that there will be negative impacts on the housing market regardless.  For example, the investment potential of grandfathered assets will be undervalued because all subsequent owners will have a 50 percent tax increase on their investment,” Ms Wawn said. 

“Treasury analysis (FOI 1876) that Labor quotes in support of its policies suggests that Labor’s policies to increase capital gain tax could compound upon a cyclical downturn in the housing market that may be underway,” she said. 

“All this amounts to a compelling need for Labor to consider the impact of its policies to increase capital tax and restrict negative gearing before the next federal election. 

“Master Builders also restates that Labor conceived this policy in booming housing market – this is no longer the case.  House prices have fallen by at least 15 percent in Sydney, Melbourne and Perth while new dwelling approvals and lending volumes are driving lower at some pace,” Ms Wawn said.

www.masterbuilders.com.au

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THE Australian Retailers Association (ARA) praises the South Australian (SA) Government’s decision to offer suburban retailers the opportunity to trade on Easter Monday.

Suburban retail stores operating across South Australia will now be able to open their doors from 11am to 5pm - if they elect to do so.

Russell Zimmerman, executive director of the ARA said the decision made by the SA Government, will grant retailers the chance to trade on Easter Monday and assist in leveling the competitive retail playing field.

“The decision made by the SA Government is fantastic news for local retailers who will now be able to trade on Easter Monday alongside their metropolitan and online counterparts,” Mr Zimmerman said.

“This will also provide consumers living in suburban areas with greater opportunities to shop in their local area if they desire and should deliver some much-needed relief to local retailers.”

As the retail industry is a $320 billion-dollar sector, employing over 1.3 million people across Australia, the ARA believes this decision will offer retail staff the choice to work on the Easter Monday.

“The Easter trading period is a busy time for retailers and employers will be looking to roster on or hire more retail staff to compensate for the increase in foot-traffic,” Mr Zimmerman said.

“The decision made by the SA Government will benefit retail staff, as they will have the option to work and earn extra wages if they would like to do so and make contributions to the local retail economy.”

After years of constrained trading hours, the SA Government last year welcomed the extension of Boxing Day trading hours following strong demand from retailers and shoppers, who wished to capitalise on one of the busiest trading days of the year.

The move now brings South Australia in alignment with every other State and Territory across Australia, and the ARA hopes this decision will influence the Government to revise existing trading restrictions.

“The recent outcome carried out by the SA Government is a bold stride in not only listening to the voice of retailers and consumers, but also in eradicating outdated restrictions towards trading hours,” Mr Zimmerman said.

“The ARA is delighted to see that the SA Government is a making positive step towards removing these archaic restrictions on trading hours and will continue to support the deregulation Bill through Parliament.”

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is Australia’s largest retail association, representing the country’s $320 billion-dollar sector, which employs more than 1.3 million people. As Australia’s leading retail peak industry body, the ARA is a strong pro-active advocate for Australian retail and works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,800 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

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