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Private employers should take note of paid miscarriage leave for NSW public sector workers

PRIVATE sector employers across the country should expect a new form of paid leave for grieving parents to apply to their own workers in the future, following the announcement of such a policy for public sector employees in New South Wales.

Under the scheme announced in the state budget, all full-time, part-time, permanent or temporary public sector workers will be able to access five days of leave following a miscarriage or stillbirth. The spouses of public service employees who have a miscarriage or stillbirth can also take advantage of the same paid leave.

Mothers who prematurely give birth will also be given paid pre-term birth leave up until the date their child would have normally been expected. Both measures will come into effect from July 1, 2021.

While this is a first for the country and is limited to public workers in one state, Employsure, workplace relations advisor to more than 29,000 SMEs across Australia and New Zealand, believes it will eventually extend to other states and into the private sector.

“Typically when a new workplace benefit, particularly one as sensitive as this, is introduced, it doesn’t take long until it becomes a nationwide policy,” Employsure employment relations specialist Nicholas Hackenberg said.

“Private employers should take note of what this newly announced leave in New South Wales entails, and if they discover the added cost might negatively impact their business, should it ever apply to them, then they should use the time they have to make necessary changes to their cash flow to accommodate for it.”

The introduction of such a scheme in Australia is comparable to the one that has been in place in New Zealand since March. While similar, New Zealand’s form of bereavement leave only provides those eligible with three days of paid leave, as opposed to the five announced for New South Wales.

Grievances in the workplace are something employers across both countries have long needed guidance on. In the first five months of 2021 alone, an average of 530 calls a month have been made to Employsure’s advice line from employers specifically seeking grievance-related help.

Employers typically need advice relating to compassionate leave (such as when an employee’s family or household member dies) and what steps they should take. Calls also extend to personal or carer’s leave (sickness/support) and how to handle employees.

“This is clearly a delicate topic employers will always need guidance on, and if this scheme in New South Wales ever extends to the private sector or others states, it will no doubt cause extra confusion for small business owners, who don’t tend to have a dedicated HR department to help them,” Mr Hackenberg said.

www.employsure.com.au

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“Employers, regardless of state or industry, should familiarise themselves with this policy in New South Wales, so if it ever does apply to them in the future, they can implement it into their workplace without it being a sudden shock to the business.”

Government urged to stop leaving Aussie seafarers out in the cold

UNEMPLOYED seafarers are demanding urgent action from the Federal Government to address the decline of the nation’s shipping industry, including investment in a strategic fleet of Australian flagged and crewed vessels to move essential goods around the coast.

Seafarers who have lost their jobs after Australian vessels were replaced by foreign ships — many registered in notorious tax havens — were joined in their protest on the lawns of Parliament House by fellow maritime workers, trade unionists, and members of parliament.

The rally heard that while 98 percent of Australia’s imports and exports arrive by sea, only 12 Australian flagged and crewed cargo ships still operate. Australia’s fuel security is even more precarious, with not one Australian oil tanker remaining.

Maritime Union of Australia (MUA) national secretary Paddy Crumlin said shipping was an essential industry that was the backbone of the nation’s economy, but the Federal Government was making a choice to allow Australia seafarers to be replaced with exploited foreign workers.

“The Morrison Government hasn’t just stood by and watched the decline of Australian shipping, they have actively approved the replacement of Australian ships with foreign flag vessels crewed by exploited workers paid as little as $2 per hour,” Mr Crumlin said.

“Many of these vessels work exclusively on the Australian coast, moving cargoes between Australian ports, yet the Federal Government issues them temporary licences that allow them to avoid local wages and conditions.

“The crew of the MV Portland saw this policy first hand, finding out from media reports that they were losing their job, with the ship to be replaced by a foreign vessel.

“When they attempted to defend Australian jobs by refusing to take the MV Portland on its final voyage to Singapore, they were dragged from their bunks in the dead of night by security guards and replaced by a foreign crew,” Mr Crumlin said.

“Five years on, the work the MV Portland did bringing alumina to Alcoa’s Portland Aluminium Smelter in Victoria continues to be done by a foreign vessel under temporary licences issued by the Federal Government.

“Since the Coalition Government was elected in 2013, we’ve lost half our remaining fleet of Australian cargo vessels, taking with them the jobs of more than 500 Australian seafarers.

“This campaign isn’t just about getting Australian seafarers back up the gangways of Australian ships, it’s about the importance of a strong shipping industry to the economic success of an island nation.

“The importance of fixing this broken system has been highlighted by COVID, with international shipowners using the crisis to gouge freight rates, seriously impacting Australian businesses,” Mr Crumlin said.

“These same shipowners are responsible for keeping exploited seafarers effectively imprisoned on vessels, with hundreds of thousands unable to return home to their families for more than a year.

“As an island nation, we need to be reliant on ourselves, which means having a strategic fleet that can ensure our fuel security and keep essential goods supplied during a conflict, economic crisis, or pandemic.

“Australia is a great trading nation with a fantastic merchant navy tradition, yet the Morrison Government continues to preside over the demise of Australian shipping for purely ideological reasons.”

www.mua.org.au

 

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Visa news for chefs a 'bright light' says Accommodation Association

TODAY’s news of the addition of chefs to the Priority Skilled Migration Occupation List is a welcomed bright light in an otherwise bleak time for the accommodation sector.  

Peak industry body, the Accommodation Association has been lobbying on this issue for some time with a recent submission outlining the critical skills shortages currently being faced by the tourism accommodation sector. The two areas of critical shortage are housekeeping and chefs. 
 
“Accommodation Association is very pleased to see the much-needed addition of chefs to the Priority Skilled Migration Occupation List,” Accommodation Association CEO Dean Long said.
 
“The accommodation sector has been significantly impacted by COVID-19, losing 50 percent of its workforce at the commencement, with further reductions due to the prolonged nature of the pandemic. As we emerge from the pandemic with international borders closed, the industry is seeking to meet the fluctuations in demand, with employment a direct function of rooms sold.
 
“There is currently a critical shortage of chefs and house keepers. The industry has been extensively advertising to permanent residents for these positions but with little success.

"The recognition of the importance of these roles and the addition of chefs to the Priority Skilled Migration Occupation List is a positive step in addressing the skills shortage and challenges currently facing the sector. We welcome the Federal Government’s support in the sustainable recovery of our industry.”
 
 
About the Accommodation Association
The Accommodation Association represents over 80 percent of all known accommodation providers from small regional parks, caravan parks, serviced apartments and resorts through to the largest hotel groups in the world including Accor, Hilton, Wyndham Destinations and IHG.

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Opportunities for expansion in aquaculture

THE STATUS of Australian aquaculture and opportunities for its expansion will be discussed at an upcoming public hearing by the House Agriculture and Water Resources Committee.

The Committee will speak to the Fisheries Research and Development Corporation (FRDC) this Thursday as part of its inquiry into the Australian aquaculture sector. Witnesses will appear in person.

The FRDC is a national statutory authority responsible for funding and coordinating fisheries and aquaculture research, development, and extension activities in Australia.

Committee Chair, Rick Wilson MP, said, "For over 30 years, the FRDC has provided strategic leadership to the aquaculture sector, helping both government and industry to direct investment. Their work ensures that research priorities are identified and that subsequent findings are accessible to stakeholders.

"The FRDC’s submission to the inquiry was detailed and wide-ranging and the committee looks forward to discussing the many opportunities for growth, as well as solutions to current barriers, within the aquaculture sector," Mr Wilson said.        

For further information, visit the inquiry website.

Public hearing details

Date: Thursday, 24 June 2021
Time: 10.10am to 10.45am AEST

A live audio stream of the hearing will be accessible at: www.aph.gov.au/live

 

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Small businesses urged to ask COVID questions this tax time - CPAs

CPA AUSTRALIA’s top tip for small businesses is to ask their tax adviser if they’re eligible for any COVID-related tax incentives and deductions this tax time.

CPA Australia senior manager for tax policy, Elinor Kasapidis said, "Ninety-five percent of small businesses seek professional advice with their taxes. This year it’s even more important to ask the right questions and provide relevant information to help your adviser determine if you’re eligible for any COVID-related tax incentives and deductions.

“Around 98 percent of businesses in Australia are small businesses. Together they employ over 40 percent of the entire Australian workforce. Their importance to our economy cannot be understated.

"Small businesses did it tough over the past 12 months, with many still struggling. Every dollar of tax saved can help them recover and grow. Making sure businesses claim everything they’re entitled to is important.”

The 2020-21 tax year is the first full year of operating in a COVID-environment. There are multiple tax deductions and incentives small businesses owners need to be aware of.

“Small businesses which need to buy assets should take maximum advantage of depreciation incentives introduced as part of COVID-19 economic stimulus. However, the benefit will depend on your circumstances, so ask your tax agent for advice before making major purchases.”

COVID-19 has left many businesses experiencing cash flow difficulties or financial distress. Some small businesses may have a higher than usual number of bad debts on their books this income year.

“Businesses can claim a deduction for bad debts if there is little or no likelihood of the debt being recovered, but proceed with caution. Debts that have been forgiven can’t be claimed.

“The temporary loss carry-back is also available for companies that made a loss this year. This allows businesses to get a refund for previous years’ tax paid instead of carrying the loss forward.

“If your business is in financial difficulty, or you have complex tax matters like debt refinancing and restructuring, it’s critical to get proper tax and accounting advice as early as possible.”

Some small businesses experienced significant fluctuations in their inventory levels and value due to COVID-19.

“Ask your accountant whether a different trading stock valuation method for tax purposes may be more effective,” Ms Kasapidis said.

Many businesses received COVID-19-related government supports or grants during the income year.

“Unless there is a specific exception, government payments designed to assist businesses continue operating, such as JobKeeper, need to be included in assessable income.”

The tax rate for companies with an annual turnover of less than $50 million has been reduced from 27.5 to 26 percent for the 2020-21 income year.

However, companies that earn 80 percent or more of their income from passive investments such as rental income or interest income will continue to pay the full company tax rate of 30 percent.

Many businesses reduced their tax instalments during 2020-21. “If you reduced your instalments and your business did better than expected, be prepared for a tax bill when you lodge your return.”

The ATO is cracking down on incorrect expense deductions and unreported cash transactions in 2020-21 tax returns. “Business owners are increasingly being contacted regarding their income and expense claims.”

“It’s legal to accept payment in cash, but you must keep accurate records of these transactions. The ATO’s data capabilities are vast and growing, and so is their ability to join the dots when it comes to expenses claims and cash transactions.”

There are also rules around the private use of business assets and funds. “If you took money out of your businesses, for example, to pay school fees, you need to account for it as a fringe benefit, salary, dividend, loan or repayment. Each of these has tax implications and getting it wrong can be costly.”

CPA Australia tax tips for small businesses.

 

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Australian Chamber of Commerce and Industry to appear before Treaties Committee

THE Joint Standing Committee on Treaties will today hear from the Australian Chamber of Commerce and Industry (the Chamber) as part of the Committee’s inquiry into the Regional Comprehensive Economic Partnership Agreement (RCEP).

RCEP is a regional free trade agreement between Australia and the countries of ASEAN, China, Japan, the Republic of Korea and New Zealand.

Committee chair Dave Sharma MP said, "This hearing gives the committee an opportunity to explore the impact of RCEP on Australian business. The Chamber has told the committee that it believes that the value of RCEP for Australia is in strategically redirecting trade and economic ties towards regional relationships within the Asia-Pacific."

The committee will also discuss the Chamber’s concerns about the overlap between trade agreements, rule of origin arrangements, and the lack of independent economic analysis of RCEP’s impacts.

The committee anticipates conducting further hearings on RCEP in other parts of the country. Public hearing programs will be made available of the committee’s website.

Public hearing details

Date: Monday 21 June 2021
Time: 11.10am – 11.55am AEST
Location: Committee Room 2R1, Parliament House

Access to the public hearing is restricted as a pandemic control measure. The hearing can be accessed online.

Further information on the inquiry can be found on the inquiry website.

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Women lead jobs recovery but gender equality progress slows: Financy Womn's Index

THE FINANCIAL progress of Australian women appears back on track thanks to a female-led job’s recovery from the coronavirus pandemic but there is still a lot of catch-up to be done when it comes to achieving gender equality, the latest Financy Women's Index March quarter report shows.

Unlike past economic downturns, Australian women are helping to drive a recovery from the coronavirus pandemic with workforce participation at record highs and the fastest rate of improvement in over 40 years in the number of monthly hours worked by any gender in the March quarter.

The Financy Women’s Index rose by 0.7 points to a revised 71.6 points in the March quarter, and is up 1.8 points on March 2020 – the best start to a calendar year since 2018.

Women’s Index founder Bianca Hartge-Hazelman has welcomed the result with cautious optimism.

“It’s fantastic to see that female employment is bouncing back in many of the sectors hardest hit by the pandemic shutdowns,” she said.

“However when we look at what this means for gender equality in employment, the rebound shaved four years off the now 30 year timeframe for achieving that. While it’s a step in the right direction, it’s actually reflective of the slowest pace of annual progress since 2018."

The March quarter result has been driven by new data updates across the three sub-index areas: employment, underemployment and leadership. The Index also captures the latest available data updates on the gender gaps in pay, superannuation, unpaid work and fields of education linked to career earnings.

Employment data shows a record increase in female workforce participation, as well as improvement in the underemployment rate gender gap and a fresh high in women holding ASX 200 board directorships.

The combined result suggests that women are experiencing a somewhat faster employment recovery from the jobs fallout caused by the Coronavirus pandemic than men, helped by a significant rebound in the sectors hardest hit such as the female-dominated Retail Trade and Accommodation and Food Services.

Deloitte Access Economics partner, Simone Cheung, said sectors with high female representation such as Health and Social Services have also grown significantly over the pandemic. On the other hand, male-dominated industries such as construction have seen a drop in employment.

“The question remains: is this women-led recovery in jobs a correction, or is it a sign of things to come? We will have to wait and see,” she said.

“What we do next will be critical, and will determine whether this momentum is maintained, or whether things reverts to the pre-COVID norm.”

The Index also found that younger women and those in the most common age group for entering parenthood are yet to see a full recovery in the full-time employment numbers. It is a trend we are also seeing among younger men.

AMP Capital chief economist, Shane Oliver said while “it’s excellent news to see the Financy Women’s Index resume its rising trend in the March quarter, in most areas we remain many years and in some cases decades away from achieving gender financial equality".

The timeframe for achieving total gender equality stands at 101 years, based on the worst performing sub-index (unpaid work) of the Women’s Index.

In terms of other sub-indexes and achieving gender equality in those areas, the Women’s Index estimates it will now take 30 years to achieve equality employment, down from 34 years in March 2020.

The timeframe to achieving gender equality in underemployment remains around 17 years and it is likely to take seven years of sustained progress for complete gender diversity to be achieved on ASX 200 boards.

The gender gap in unpaid work seemed to worsen through the pandemic; however the crisis has also showed a way forward to help address this problem in a way that is beneficial for both males and females and at the same time good for productivity.

“The pandemic has showed that it’s possible to work from home in a more flexible way without negatively impacting productivity,” Dr Oliver said.

“And more working from home should further help boost female workforce participation thereby reducing their unpaid work.  At the same time, more men working from home should allow them to more fairly share in household and parental chores.

“The key is to encourage and facilitate the work from home phenomenon so that its benefits can be nurtured rather than just go back to business as usual once the pandemic is behind us,” Mr Oliver said.

 

About the Financy Women’s Index

The Financy Women’s Index measures and tracks the financial progress of Australian women and timeframe to gender equality on a quarterly basis. The Index is supported by Deloitte and Deloitte Access Economics, which provides economic modelling to assist with the development and creation of the Index and reports. This Financy Women’s Index is made possible with the support of Deloitte, the Ecstra Foundation and equality believer Connie Mckeage. The report is peer reviewed by the Women’s Index Advisory Board; Dr Shane Oliver, Simon Cheung, Roger Wilkins, Danielle Wood, Joanne Masters and Bruce Hockman. Index data is also reviewed where possible by the Australian Bureau of Statistics. Financy provides gendered-data insights, content and creative brand strategy. The Financy Women's Index advocates for financial gender equality through insights and seeks to influence through action.

 

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FOMO Freebies to thank Melburnians post-lockdown

THE CITY of Melbourne and the Victorian Government will provide free giveaways as an extra incentive for people to return to the city now that lockdown restrictions have eased.

FOMO Freebies provide a chance to enjoy quintessential Melbourne experiences from shopping at the Queen Victoria Market to experiencing the hit Broadway musical Frozen, or Harry Potter and The Cursed Child. The FOMO campaign is part of the $200m Melbourne City Reactivation Fund in partnership with the Victorian Government and the City of Melbourne.

There will be more reasons to return to the city with FOMO Freebies on offer from participating retail, accommodation, tourism and entertainment venues from Monday June 21 to Sunday July 18.

"The buzz is coming back to Melbourne and we are encouraging everyone to come and experience the best of what's on offer in Melbourne this winter,” Melbourne Lord Mayor Sally Capp said.

“By giving away these freebies we are reminding Melburnians that the city is very much open for business and we’re still Australia’s cultural capital.

“FOMO Freebies is a great way to thank people returning to the city and provide a major boost to retail, tourism and accommodation businesses across the City of Melbourne," Cr Capp said.

"Now is the perfect time to rebuild the team connection you’ve missed while working away from the office, or to bring your kids into the city to enjoy the family entertainment on offer during the school holidays.”

A Melbourne City Lord Mayor said giveaways would be up for grabs over the next four weeks, including:

  • Sea Life Melbourne Aquarium: 200 double passes to experience an underwater world;
  • Frozen The Musical: 200 tickets;
  • Harry Potter and The Cursed Child: 200 tickets to Part 1 and Part 2;
  • NGV: 100 ‘Friday Night’ double passes;
  • The Westin Melbourne: 200 overnight staycations;
  • Sofitel Melbourne on Collins: 200 overnight staycations;
  • Melbourne Star Observation Wheel: 250 double passes;
  • O’Brien Ice House in Docklands: 200 double passes (including skate hire);
  • Imaginaria: 200 tickets for an immersive play experience in Docklands;
  • Queen Victoria Market: 400 x $50 vouchers;
  • Rising Melbourne: 100 Aunty Zeta Rain Slickers;
  • Discovera Hidden Bars and History Tour: 200 double passes.

More prizes are to be announced. All giveaways and pick up details will be announced ahead of time via @WhatsOnMelb social media accounts (Facebook, Twitter and Instagram).

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Your Future, Your Super bill passes Senate

THE Federal Government’s signature ‘Your Future, Your Super’ reforms that were passed by the Senate on Thursday, and are expected to be passed into law by the House of Representatives shortly, represent a significant win for superannuation consumers.

The reforms include the Royal Commission’s ‘stapling’ recommendation which will ensure consumers have a single, high-quality fund that they are able to take with them from job to job, like a bank account or a tax file number.

Financial Services Council (FSC) CEO Sally Loane said, "The FSC has been a vocal and long-term advocate for stapling and our analysis shows that having a single superannuation account will save Australian workers up to $1.8 billion in fees over the first three years.

“This is an important milestone in our $3 trillion mandatory system, ending the scourge of unintended multiple superannuation accounts which have cost Australians billions of dollars in duplicate fees,” Ms Loane said.

The ‘Your Super’ reforms will also introduce new performance benchmarks for superannuation products, an ATO comparison tool to help consumers choose a better performing fund, and strengthen the requirements for trustees to act in the best financial interests of superannuation consumers.

“The new performance assessment will work alongside stapling to give Australians confidence that their superannuation is generating ‘best in show’ investment returns throughout their working lives. If a consumer is concerned their fund’s returns are substandard the ATO comparison tool will be available as an impartial source of information to help consumers choose a better fund.

“The challenge now for the regulators and Government is to ensure performance assessments use rigorous and comparable data for all products so that comparisons are undertaken on a ‘like-for-like' basis.”

The FSC also welcomed the Senate’s passage of the ‘More Flexible Super’ reforms.

“The changes to contribution arrangements for older Australians will make it easier for them to manage their superannuation and retirement planning,” Ms Loane said.

“We were also pleased to see the government support amendments tabled by Pauline Hanson’s One Nation to allow individuals who withdrew superannuation during the COVID-19 crisis to recontribute those amounts without being penalised. This is consistent with FSC advocacy as part of a holistic response to the COVID-19 early release scheme."

 

About the Financial Services Council
The Financial Services Council (FSC) has more than 100 members representing Australia's retail and wholesale funds management businesses, superannuation funds, life insurers, financial advisory networks and licensed trustee companies. The industry is responsible for investing almost $3 trillion on behalf of more than 15.6 million Australians. The pool of funds under management is larger than Australia’s GDP and the capitalisation of the Australian Securities Exchange and is the fourth largest pool of managed funds in the world. www.fsc.org.au

 

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Builders back moves to boost home ownership

THE Federal Government has announced the expansion of housing programs that, according to Master Builders Australia, are helping more people to own their first home provides and strengthening economic recovery. 

"The release of 30,0000 new places in the highly successful First Home Loan Deposit Scheme, New Home Loan Guarantee and the Family Home Guarantee will boost the economic security of thousands more people, including single parents, and continue to accelerate the recovery,” Master Builders Australia CEO Denita Wawn said.

"We know that the deposit gap is the greatest barrier to people owning their first home. Right around the country we are witnessing the success of the government’s housing policy measures to help people to bridge this gap.

“The Family Home Guarantee will mean that thousands of single custodial parents, the vast majority of whom are women, can access the life-changing benefits of homeownership. We want to this measure passed by the Parliament without delay,” Ms Wawn said.

“Providing more people with the support to make the step up to owning a home is also fundamental to a stronger economy which benefits the whole community.

“Lifting the price caps for these schemes will also make them more accessible to more people and that’s a very good outcome,”  she said.

“With every dollar spent in building new housing resulting in $3 benefit for the wider economy, it is clear why the Federal Government’s measures are having such a strongly positive effect,” Ms Wawn said.

www.masterbuilders.com.au

 

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DFAT to appear at first hearing for the Trans-Pacific Partnership inquiry

THE Department of Foreign Affairs and Trade will appear at the opening public hearing today for an Australian parliamentary inquiry looking at the merits of expanding the membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The CPTPP agreement signed in 2018 is a trade bloc of 11 countries that includes Australia and is an export market of 500 million consumers worth nearly $14 trillion.

The parliamentary inquiry will examine the scope for expanding the CPTPP beyond the existing membership of Australia, Canada, Japan, Mexico, New Zealand, Singapore, Vietnam, Brunei Darussalam, Chile, Malaysia and Peru to include new members.

Chair of the Trade Sub-Committee of the Joint Foreign Affairs, Defence and Trade Committee, Ted O’Brien, welcomed the opportunity to investigate the process of how the current members of the CPTPP can agree on expanding the trade pact to include other economies, and understanding what the benefits of new members joining will be.

"On the back of this week’s historical agreement to progress a FTA with the United Kingdom, between Prime Ministers Morrison and Johnson, it is timely to consider expanding the most comprehensive plurilateral trade agreement in existence, the CPTPP," Mr O’Brien said.

"Before we can assess the merits of aspiring economies that could accede to the CPTPP, it is important to baseline everyone’s understanding of the agreement, and that starts today when hearing from DFAT."

Representatives of DFAT will appear at the public hearing at 9:50am, Thursday June 17 in Committee Room 1R4, Parliament House.

Further details about the about the inquiry, including terms of reference, details on how to contribute a submission and, when available, details of public hearings and roundtable discussions, can be obtained from the Committee’s website.

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