THE CFMEU and the Australian Constructors Association are calling for targeted reforms to drive construction in Build-To-Rent and social housing to stimulate the economy and boost jobs ahead of the Federal Budget.

The peak construction industry groups are also warning that moves to allow people to further drawdown on their superannuation savings could weaken investment in the nation's vital construction industry as it recovers from the economic shock of the pandemic.

Reforms to enable Build-To-Rent construction projects could boost the economy by $10 billion, create up to 23,000 jobs, and build 20,000 homes over the next four years. This would help offset a continued downturn the industry is expecting in the construction of apartments and student accommodation.

Build-To-Rent is a big part of the rental market and commercial construction sector in North America, Europe and Asia which helps sustain development of large-scale affordable housing.

However, in Australia, a raft of state and federal tax rules act as a barrier to investment. In particular, the application of GST is uneven between apartments sold to individuals and apartments built to rent by the developer.

Reforming the GST rules for BTR construction projects and coordinating with the National Cabinet to reform State and Territory rules would enable investment in a range of shovel-ready projects across the country.

Along with increased social housing, these measures would provide homes for people who need them and create tens of thousands of jobs.

A recent report by construction giant and ACA member Multiplex estimates that changes to the rules around GST and other tax measures on Build-to-Rent projects would boost the Australian economy by up to $10b, potentially create 23,000 jobs, and build 20,000 new home around the country over the next four years.

The Federal Government can also enact reforms that give the green light to Australia's $2 trillion superannuation sector to more easily invest in nation-building stimulus projects such as the construction of Build-To-Rent homes and social housing.

The Federal Government must also be wary of the unintended consequences of encouraging further drawdowns on people's retirement savings, which could affect the capacity of super funds to invest in non-liquid assets like the large-scale construction projects the economy will need in coming years.

In particular, the use of superannuation for housing deposits is poor public policy and goes against the concept of super as a long-term investment for people's retirement security.

The construction industry has worked hard to maintain its role as a principle driver of the Australian economy through the pandemic crisis. Builders and unions have worked together in the national interest to keep the industry going, to keep people in jobs, and to ensure that construction maintains its role at the heart of our economy.

The government can assist by enacting these reforms that will free up investment to boost the industry and help build the homes that the Australian people need.

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THE Queensland Resources Council is urging voters at this month’s state election to back a strong economic recovery post-COVID by putting job security first and the Greens last on their ballot paper.

With COVID-19 predicted to put tens of thousands more Queenslanders out of work and unemployment expected to peak at 9 per cent, QRC chief executive Ian Macfarlane said it was vital for people to vote for candidates who support the resources sector and the jobs it creates.

“Now is not the time to risk a single job in Queensland by voting for the Greens or by putting them anywhere but last on your ballot paper,” Mr Macfarlane said.

“The Greens have made it clear they are against new mining projects and want to put an end to the existing mining and gas industry, terminate existing mining leases in the Galilee Basin, and increase royalty taxes on resources, effectively stopping future jobs being created.

“The Greens want to shut the resources sector down and put hundreds of thousands of people and almost 15,000 small businesses out of work.”

The QRC today launched a campaign to urge voters to put their job first and vote the Greens last.

Mr Macfarlane said it was time for voters to “plan for the worst and hope for the best” by making job security and Queensland’s financial stability top priority at the October 31 election.

“Make no mistake, there are grim times ahead for many people and businesses in Queensland because of COVID-19. No industry is immune, including the resources sector, and none of us know how much longer this pandemic will affect the global economy.”

Mr Macfarlane said if people want to protect their job and keep the Queensland economy strong, they need to put the Greens last on their ballot paper so they don’t unintentionally vote in a minority government controlled by the Greens.

 “If the Greens get into a position of influence in Queensland, it will be a disaster for the resources industry and for the 372,000 people employed in our sector and the 14,400 businesses that depend on us," Mr Macfarlane.

“The Greens also want to shut down jobs in farming, tourism, forestry and fishing which are all essential industries for post-COVID recovery and job-creation, particularly in regional Queensland.”

Mr Macfarlane said the QRC will work constructively with whoever wins government to ensure the mining and gas industry continues to be in a position to underpin the state economy.

“We’re extremely lucky to live in such a resource-rich state, so we’re asking voters not to jeopardise our strong position compared to other states and countries by supporting a party or a person that doesn’t support Queensland’s number one export industry,” he said.

“Without mining and gas holding up the state economy right now, Queensland would be in dire financial straits. The Greens’ anti-mining and anti-gas policy will end up costing Queensland jobs and money that we can’t afford to lose.”

Queensland’s resources industry contributed $63 billion in export dollars to the state economy last year and $5.3 billion in royalty taxes to help fund government services such as nurses, doctors, teachers, roads, schools and hospital and health facilities throughout the state.

www.qrc.org.au

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THE Queensland Resources Council has welcomed Premier Annastacia Palaszczuk’s promise to 'no deals', ruling out a power-sharing alliance with the Greens to stay in office after the October 31 State Election.

QRC chief executive Ian Macfarlane said while the QRC would continue to warn Queenslanders about the risk to jobs of voting for or preferencing the Greens right up until 6pm on election night, the Premier’s promise – ruling out a Labor-Greens alliance in government - was "very welcome news for the resources sector and for Queensland".

“The Greens have made it clear they are against new mining projects and want to put an end to the existing mining and gas industry, terminate existing mining leases in the Galilee Basin and increase royalty taxes on resources, which will stop future jobs being created,” Mr Macfarlane said.

“Queensland needs the resources sector and the 372,000 jobs it supports more than ever during its recovery from COVID-19. The Greens want to stop jobs in our sector and others,” he said.

“We cannot afford to surrender jobs when tens of thousands of Queensland men and women are out of work and unemployment is forecast to keep rising to 9 percent later this year.”

Queensland’s resources industry contributed $63 billion in export dollars to the state economy last year and $5.3 billion in royalty taxes to help fund government services such as nurses, doctors, teachers, roads, schools and hospital and health facilities throughout the state.

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THE Institute of Public Accountants (IPA) said it was proud to support The Male Hug, a dedicated men’s mental health organisation founded by IPA member, Tony Rabah.

“We congratulate Tony Rabah and The Male Hug team for such an important initiative in getting men to talk about issues that may be impacting their mental health and wellbeing,” IPA chief executive officer Andrew Conway said.

“I am also pleased to be an ambassador for The Male Hug organisation and its new initiative, Talktober, where I and others taking up the Talktober challenge are committed to call at least one male each day for the month of October.

“The timing is also perfect as it coincides with World Mental Health month,” said Mr Conway.

Founder and CEO of the Male Hug, Tony Rabah, said men were vulnerable to mental illness because of the inherent belief and conditioning that they "just have to ‘suck it up’ and get on with it".

“The COVID-19 pandemic has been devastating and so many men are doing it tough; many have lost their jobs, closed their doors or are just struggling through on a day-to-day basis, unsure of where there next customer is coming from," Mr Rabah said.

“The Male Hug is encouraging men from all fields to not hold feeling or emotions back and to talk to someone.  We would rather a person join our Let’s Chat Buddy Program, than to suffer in silence feeling alone and desperate,” Mr Rabah said.

For more information about The Male Hug and the Talktober challenge go to www.themalehug.com.au or www.themalehug.com.au/talktober

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 38,000 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. www.publicaccountants.org.au

About The Male Hug

The Male Hug is an initiative that seeks to raise the awareness of men’s mental health and promote the open dialogue of this often-sensitive issue. Mental health is an issue that is becoming more prevalent but continues to find degrees of negative stigma associated with it, particularly amongst men. The Male Hug seeks to tackle the stigma associated with men’s mental health as it looks to take its place as a support service for men by providing support and encouraging men to talk in a safe and friendly environment that is free of judgement.

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