SMALL building businesses in rural and regional communities around the country will take on more apprentices as a result of new apprentice wage subsidies announced by the Federal Government, accpording to Master Builders Australia.

“There are more small businesses in the building industry than any other sector of the economy and thousands of them make a major contribution to strong local economies in communities around the country,” Denita Wawn, CEO of Master Builders Australia said.

“We are forecasting strong future demand for workers in our industry and our members tell us that they need more access to local skilled tradespeople to work on local projects and the Government’s initiative will create opportunities for small building businesses and young people in rural and regional communities,” she said. 

“Master Builders also thanks Senator Pauline (Hanson) for her strong advocacy for this important initiative,” Ms Wawn said.

www.masterbuilders.com.au

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INSTITUTE of Public Accountants (IPA) chief executive officer, Andrew Conway has told hundreds of delegates at the IPA annual national congress, that accountants must revitalise community trust in professions.

“Public expectations continue to rise in a time when overall trust in institutions is declining,” said Mr Conway.

“Trust impairment is a global trend and when you take into consideration such factors as the findings from the Hayne Royal Commission Interim Report and a growing distrust in financial institutions and financial advice, we as a profession must step up.

“Lack of trust only exacerbates people’s expectations, however, the fundamental need of people seeking trustworthy and competent professionals must still be met.

“There have been no systemic issues involving accountants and public accountants still hold the honour of being trusted advisers to their clients.

“However, as a profession we must do everything in our power to not only maintain that level of trust but also respect the community need for the trust they invest in us.

“As reflected in the interim findings of the banking royal commission, trust is in question and the brand of financial advice has been tarnished.  This means that all professional accounting bodies must stand together and rebuild trust for the sake of not just the profession but also the broader public interest,” said Mr Conway.

About the Institute of Public Accountants

The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies.  In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than 35,000 members and students in over 80 countries.  The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants. 

publicaccountants.org.au

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THE SUPREME Court of Queensland has ruled against the legal bid by rail transport group Aurizon to 'undermine' the regulator's draft coal rail network decision

"On behalf of the state’s coal industry and the 300,000 Queenslanders employed by the resources sector, the Queensland Resources Council (QRC) welcomes the Supreme Court of Queensland’s decision to dismiss Aurizon’s legal challenge to the draft decision of the Queensland Competition Authority (QCA) for the future operation of the state’s major coal rail network," QRC chief executive Ian Macfarlane said.

"This outcome is very important for all Queenslanders, who are set to receive more than $3.5 billion in coal royalties this financial year.

"The Court’s decision allows the QCA to finalise its decision on the future management of the Central Queensland Coal Network."

Aurizon Network commenced the judicial review application on April 30, 2018, with the statement: “Aurizon Network has today applied to the Supreme Court of Queensland for the Judicial Review of the Queensland Competition Authority’s (QCA) Draft Decision on the 2017 Draft Access Undertaking (UT5) for Aurizon’s Central Queensland Coal Network (CQCN) on the basis of apprehended bias.

"This application results from the QCA chairman, Professor Roy Green also being the chairman of the Port of Newcastle in NSW, part of the Hunter Valley coal supply chain. Aurizon Network is seeking judicial review of the draft decision on the basis that it was affected by legal error because the Queensland Competition Authority did not afford procedural fairness to Aurizon Network due to Prof. Green’s conflict of interest and the apprehension of bias.”

On July 26, 2018, 10 coal producers – among them Australia’s largest coal producers – were joined as respondents to the judicial review application commenced by Aurizon Network against the QCA in the Supreme Court of Queensland.

The coal producers that were joined as Respondents to the judicial review application by Aurizon Network were:

Anglo American Metallurgical Coal Pty Ltd
BHP Billiton Mitsui Coal Pty Ltd, 
BM Alliance Coal Operations Pty Ltd
Coronado Curragh Pty Ltd
Glencore Coal Pty Ltd
Idemitsu Australia Resources Pty Ltd
Jellinbah Mining Pty Ltd
Lake Vermont Resources Pty Ltd
Peabody Energy Australia Coal Pty Ltd 
Yarrabee Coal Company Pty Ltd

www.qrc.org.au

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“APPROVALS for new detached houses across Australia are at their lowest ebb since late 2013,” according to Shane Garrett, chief economist of Master Builders Australia. 

ABS figures which have just been released indicate that detached house approvals fell by 2.1 percent during September to record their weakest monthly result since December 2013. There was better news for apartment and other dwelling approvals which benefited from a 10.7 percent bounce during September. 

“The descent to a five-year low for detached house approvals is an unwelcome milestone and reflects a number of unfavourable factors,” Mr Garrett said. 

“House prices are continuing to fall in Australia’s two largest markets and this makes it more difficult to deliver new housing supply. The results of last week’s MBA industry survey also demonstrated how the ongoing Royal Commission has led to tougher financing conditions in recent months,” he said. 

“The unprecedented level of new home building over the past five years has substantially expanded the capacity of the Australian economy by boosting the number of construction jobs and allowing greater numbers of workers in all sectors to put a roof over their heads.

“With new home building activity starting to flag, it is vital that government policies remain focused on allowing our industry to provide enough new homes to meet our future demands,” Mr Garrett said. 

During September 2018, approvals for new dwellings saw the largest increase in Victoria (+30.5 percent), followed by Tasmania (+15.7 percent) and South Australia (+7.8 percent).

The largest reduction in approvals hit Western Australia (-19.0 percent), followed by Queensland (-10.5 percent) and the ACT (-8.4 percent). There were also fewer approvals in New South Wales (-6.8 percent) and the NT (-6.9 percent) during September 2018.

www.masterbuilders.com.au

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THE Australian Small Business and Family Enterprise Ombudsman, Kate Carnell has welcomedf the $5 billion Future Drought Fund to support farmers and communities in rural and regional Australia.

Ms Carnell said the focus on expanded mental health services and support is particularly important, for farming family enterprises and the many small business owners who are also doing it tough.

“Running a farm or a small business during an extensive period of drought is one of the toughest situations to be in as a business owner," Ms Carnell said.

“While this new fund will deliver crucial water infrastructure and drought resilience projects, it will also provide more access for more people to mental health services and support.

“Never underestimate the importance of mental health. We know that one in five Australians will experience a mental health issue at some stage in their life.

“For farmers, many experience high levels of stress for a prolonged period of time and beyondblue research shows male farmers die by suicide at rates significantly higher than the general population and non-farming rural males.

“This is why additional mental health services are so crucial. The more support for farmers and small business owners facing high rates of stress and depression, the better.”

The increase to funding for mental health services by $15.5 million will go towards early intervention and community well-being services.

“Early intervention is key. A further $3.6 million will expand Medicare Benefit Services to enable local doctors to offer mental well-being support services via telehealth to rural and remote patients,” Ms Carnell said.

The government has also pledged $30 million to key charities to provide support to at least 10,000 households facing hardship.

“As long as these funds are used within the drought-affected communities, it should provide a much needed injection back to those who need it most; the small and family businesses trying to keep afloat during these periods of prolonged drought,” Ms Carnell said.

www.asbfeo.gov.au

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THE House of Representatives Infrastructure, Transport and Cities Committee has commenced a new inquiry into automated mass transit, focusing on developments in the use of automation and new energy sources for land-based mass transit.

Committee Chair John Alexander said that automation would make our mass transit systems “better, stronger and faster”, by making them safer, more efficient and more reliable than they are today.

“International experience of automated metro systems shows what they could do to improve connectivity within our rapidly growing cities,” Mr Alexander said.

“Automation and platooning present real opportunities to make bus networks more reliable and responsive, as well as more efficient, creating real competition between different modes of transport.

“In addition, new fuel sources—such as electricity and hydrogen power — have the potential to make mass transit cheaper, reduce our carbon footprint, and reduce our reliance on the importation of fossil fuels.”

The Committee will inquire into and report upon current and future developments in the use of automation and new energy sources in land-based mass transit, including:

• Rail mass transit
• Road mass transit
• Point-to-point transport using automated vehicles
• Commonwealth roles and responsibilities in the development of these technologies.

Submissions are open until Friday 7 December 2018. For more information about how to make a submission, contact the This email address is being protected from spambots. You need JavaScript enabled to view it..

Further information on the inquiry, including the full terms of reference, is available on the Committee’ website.

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THE Joint Standing Committee on Electoral Matters is holding further public hearings into the Commonwealth Electoral Amendment (Lowering Voting Age and Increasing Voter Participation) Bill 2018.

This Bill as proposed by the Greens would extend the franchise to 16 and 17 year-olds on a voluntary basis, allow enrolment for 14 and 15 year-olds, and permit a provisional vote on election day for unenrolled citizens.

Chair of the Committee, Senator James McGrath said that given the evidence from the initial hearing, held in September in Melbourne, the Committee was interested to hear further evidence from both young people and academic and legal experts.

The hearing will be held at Glenala State High School, enabling young people to engage with the committee process.

The full program can be found on the Committee’s website.

Public hearing details:

Date: Tuesday, 30 October 2018
Time: 10:00am –  1:45pm
Location: Glenala State High School, Durack, Brisbane

The hearing will be broadcast live at aph.gov.au/live

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ENHANCING financial literacy skills amongst the small business sector will go a long way to ensure small business viability and growth, according to the Institute of Public Accountants (IPA).

“The IPA believes that the government should make funding, for vocational education courses to enhance SME owners’ financial literacy, a priority,” IPA chief executive officer, Andrew Conway said.

“We also support the notion that practical education in areas encompassing business strategy and management to form part of the educational offerings.

“Incentives for further financial literacy and SME business management education, such as tax deductibility for educations costs, should be offered to SME owners via the tax system.

“Registered Training Organisations could partake in government incentives and play a more active role in encouraging SME operators to improve their knowledge in business management and finance,” Mr Conway said.

These recommendations stem from the Australian Small Business White Paper produced by the IPA in partnership with the IPA Deakin SME Research Centre. 

For more information: https://www.publicaccountants.org.au/news-advocacy/small-business-white-paper

About the Institute of Public Accountants

The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies.  In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than 35,000 members and students in over 80 countries.  The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants. 

publicaccountants.org.au

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