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Atlas Advisors Australia takes substantial share in Elanor healthcare fund

WEALTH MANAGER Atlas Advisors Australia has become a substantial investor in the A$123 million Elanor Healthcare Real Estate Fund.

Executive chairman of Atlas Advisors Australia, Guy Hedley said as the largest co-investor in the Elanor Healthcare Real Estate Fund, Atlas aimed to increase its participation in the fund and contribute to the addition of new assets.

The fund is uniquely established to target healthcare real-estate assets such as medical centers and day surgeries.

The fund currently comprises two Queensland properties purchased from Canada-based NorthWest Healthcare Properties Real Estate Investment Trust: A multi-tenanted medical office and day surgery at 55 Little Edward Street, in Spring Hill; and a medical office and day surgery at the Pacific Private in Southport, Golc Coast.

Both assets are located in established health precincts with strong anchor tenants and present strong returns and potential for capital growth.

Mr Hedley said the importance of healthcare assets came into special focus amidst the unprecedented impact of COVID-19.

“It is an opportunity to participate in a niche investment area with assets that make an important contribution to the Australian healthcare system,” Mr Hedley said.

Mr Hedley said the investment comes as Australia’s growing ageing population drives a revolution in healthcare management with greater preference for lower risk, coordinated and cost-effective treatment in day surgeries and shared private medical facilities.

Statistics show a growing trend towards day hospitals and shared private medical facilities for elective surgery. There were around 2.3 million elective admissions involving surgery in 2017-18 with 66 percent of these occurring in private hospitals. 

There are around 300 private day hospitals across Australia.

“Day surgeries are a more efficient way of delivering quality care to elderly patients undergoing elective surgery,” he said.

In addition to the ageing population, demand for more convenient healthcare experiences is expected to propel growth in same-day healthcare surgery.

“With strong growth anticipated in this health sub-sector, we will be looking to partner in the acquisition of additional high quality heathcare assets.”

 

About Atlas Advisors Australia

Atlas Advisors Australia is a leading funds manager and investment advisory business, operating between China and Australia offering a wide range of financial services and wealth management solutions. With operations in Sydney and Melbourne in Australia and Shanghai in China, we are able to support investors in all China and Australia locations.

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Jobkeeper exempt from payroll tax in Qld - CCIQ

THE CHAMBER of Commerce and Industry Queensland (CCIQ) has announced that after lengthy lobbying by business organisations the Queensland Government has ruled that JobKeeper payments woul be exempt from payroll tax in Quenesland.

"Late last night we received news that the Deputy Premier, Jackie Trad would be announcing that JobKeeper Payments will be exempt from payroll tax," CCIQ communications manager Faith Jarvis said.

"This is something that collectively we have been advocating for, and we are thrilled the voices of our small business community have been listened to.

"We understand that this will not impact every business, but for many, it will be potentially saving them additional tax, due to accessing the Jobkeeper stimulus payments, which as we know is designed to help businesses afloat and their staff employed," she said.

"This is a great win for business and one we hope that will lead the way for the adoption of our recovery plan."

Ms Jarvis thanked CCIQ members and allies for their support and collaboration.

"We look forward to continuing to use our united voices to spur the government into action," she said.

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Faith Jarvis

Communications Manager

Chamber of Commerce & Industry Queensland

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Fuel security talks with Australian oil refiners welcome, but shipping vulnerable

REPORTS that the Federal Government has commenced talks with Australia’s four oil refineries about the development of a domestic fuel reserve are a welcome step towards achieving energy security, but the Maritime Union of Australia has warned the plan must also address the nation’s reliance on foreign oil tankers.

The union is seeking a meeting with Energy Minister Angus Taylor to outline Australia’s reliance on foreign owned and operated tankers, which supply more than 90 percent of the nation’s liquid fuel needs, and urge the government to address this critical vulnerability.

MUA assistant national secretary Ian Bray said reports the Morrison Government was developing a more substantial energy security plan that included increased domestic fuel reserves was welcome news.

“The key concern with the Australian Government’s announcement last month that it was spending $94 million to access crude oil stored in the United States’ Strategic Petroleum Reserve was that in a crisis this reserve would still be on the other side of the world,” Mr Bray said.

“The coronavirus pandemic has highlighted just how vulnerable global supply chains are, raising questions about how this oil could be transported to Australia during major disruptions caused by natural disasters, military conflicts, or economic crises.

“It is welcome news that the Morrison Government has recognised those issues and commenced negotiations with Australian oil refineries about the joint development of a domestic fuel stockpile.”

Mr Bray said securing supply chains needed to be a key component in any fuel security plan, with the complete reliance on foreign-owned shipping posing a serious threat.

“Australia needs an energy security plan that not only addresses storage and refining capacity, but also includes a strong shipping component, ensuring oil and refined fuels can continue to be reliably delivered to Australia, even in a crisis,” he said.

“The MUA is seeking a meeting with the Energy Minister to outline the vital role of shipping in delivering fuel security, and the need to develop a strategic fleet of Australian owned and operated tankers to ensure supplies keep flowing in the event of a global crisis.”

The union has been advocating for action since 2015, through submissions to parliamentary inquiries and by commissioning shipping expert John Francis to produce a report, Australia’s Fuel Security – Running on Empty, which examined the nation’s reliance on foreign-owned tankers to supply liquid fuels.

“The union has been warning for years that the decline of Australian shipping is a national security risk, which is why we continue to urge the Australian Government to invest in the creation of a strategic fleet,” Mr Bray said.

“When 98 percent of our trade depends on foreign-owned ships, with no guarantee we could continue to access these vessels during a crisis, it is clear our nation is in an incredibly vulnerable position.

“Unless this vulnerability is addressed, the country will remain at risk of having our fuel supplies cut due to a future military conflict, natural disaster, economic crisis or pandemic that impacts seaborne trade.”

The MUA’s report ‘Australia’s Fuel Security – Running on Empty’ is available here: https://bit.ly/31cDisq

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Step One: Caravan industry wants roofed accommodation and RVs included

 

THE Caravan Industry Association of Australia is pleased with the National Cabinet’s positive messaging to a return to 'normal' and the clear framework it provides to business and our travelling community, but is calling for further consideration to cabin style accommodation and RVs that meet the requirements and where this fits into the timeline on a state and territory level.  

The industry is calling on the state Premiers and Chief Ministers to consider roofed accommodation such as cabins within caravan parks and RV’s with on-board facilities that include toilet, shower, kitchen etc. to be included in their stage one of restrictions easing. 

Caravan Parks are as safe an options as other accommodation providers, if not more so given their self-contained nature, the industry body said.

"Caravan Parks already have contact-less check-in and cabins are individual free-standing structures," a spokesperson said. "There are no shared hallways, lifts etc. which are common in other accommodation types. 

"This action will be crucial to get cashflow through businesses in regional Australia over the next few weeks to kickstart economic activity, with research indicating over 350,000 campers are keen to return to camping almost immediately when restrictions are lifted."

In April alone, a period that included Easter and Anzac day, COVID-19 response measures cost the caravan industry more than $208 million and this figure is further inflated by the loss of expenditure that would have been generated by regional tourism and thousands of small businesses.

Association CEO Stuart Lamont said, “Caravan parks have the ability to manage social distancing, adhere to increased hygiene, have strong contact tracing procedures in place, and yet they remain lumped in with unmanaged campgrounds who quite rightly should be opened in Step Two, but behind that is commercial operations which can demonstrate COVID-safe environments. 

"Caravan Park operators have been encouragingly quick to respond to plan and implement ways to be proactive in reducing the risk of COVID-19 exposure to guests and staff.

“This is a failure of government decision makers to recognise the diverse nature of what a modern caravan park is, and how it can manage the risk.  We urge state Premiers and Chief Ministers to consider this in their response to easing restrictions within their jurisdictions.”

Caravan Industry Association of Australia, however, in general welcomes today’s announcements, Mr Lamont said.

"It is an industry that believes it can play an important role in kickstarting the economy again, the tourism industry and regional Australia.  We look forward to being part of the solution."

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Businesses using the ATO’s business portal to lodge BAS or enrol for government assistance payments will need a myGovID 

THE AUSTRALIAN Taxation Office (ATO) is reminding businesses using the ATO’s Business Portal for the first time that they will need to set up a myGovID if they don’t already have one.

Through the Business Portal, businesses can apply for certain government assistance programs, lodge activity statements and pay super guarantee through the Small Business Superannuation Clearing House (SBSCH).

The ATO's chief digital officer, John Dardo said, "The ATO is here to help those needing to set up a myGovID quickly.

“In the past week we’ve seen over 800,000 ABNs logging into ATO portals. We have also seen over 120,000 ABNs setting up their myGovID to enable them to have online access. We expect to see similar enrolments in the coming week.

“If you need to use the ATO Business Portal and you don’t have a myGovID yet don’t worry. Just download the myGovID app and follow the steps. Over 80 percent of people can set it up without any assistance. If you get stuck, we have instructions and videos on the web and our call centres are able to help.”

The myGovID is an app business leaders download to their smart device to prove who they are online. It uses the security features in the individual's device such as fingerprint or face recognition and passwords to protect identity and stop others accessing personal information.

After downloading the app and setting up a myGovID, businesses need to link that myGovID to the business using Relationship Authorisation Manager (RAM). Together, myGovID and RAM provide a flexible, easy and secure way to access the ATO’s Business Portal.

“MyGovID is associated with an individual rather than a computer, making it flexible and portable," Mr Dardo said.

"This means you can continue to access the Business Portal when you’re working from home. All you need is a compatible smart device and a browser with internet access.”

How to set up a myGovID

  • Step 1: Set up your myGovID - download the myGovID app from the App Store or Google Play and use your Australian identity documents (two of the following; driver’s licence, Medicare card, birth certificate, passport) to enrol.
  • Step 2: Log in to RAM at https://info.authorisationmanager.gov.au) using your myGovID and link your business.
  • Step 3 (optional): Authorise your employees and others in RAM to act on behalf of your business online. They will receive an email to accept the authorisation request using their myGovID.

When you’ve completed these steps you’ll be able to use your myGovID to log in to the Business Portal.

Find out more about myGovID at www.ato.gov.au/mygovid

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