“THE NUMBER of building approvals for new homes across Australia increased during May, adding to evidence that Australia’s housing market is in the early stages of a recovery,” Shane Garrett, Master Builders Australia chief economist said. 

“ABS data published today show that growth was driven by a 2.1 percent rise in the volume of approvals for new apartments/units during May, the portion of the market worst hit by the downturn which began in 2017. Detached house approvals dipped slightly (-0.2%) during May.

“House price figures released earlier this week also support the view that we are at a turning point in the housing market. The latest rate cut from the RBA will help further in this regard. The quick passage of the tax cuts currently before Parliament would represent a big step forward,” Mr Garrett said. 

“In contrast to the residential side of the market, commercial building approvals dropped 6.7% during May,” he said. 

“The disappointing figures for commercial building again underline the importance of delivering government-led projects more quickly in order to support the many small building firms who are dependent on such work. A speedier roll out would do much to enhance confidence."

During May 2019, Victoria saw the largest increase in new dwelling approvals (+14.4%), followed by the ACT (+7.2%). 

The volume of approvals in New South Wales was unchanged during the month. The largest reduction in new homes approved affected Queensland (-6.3%), followed by the Northern Territory (-6.1%) and Western Australia (-4.7%). South Australia (-2.9%) and Tasmania (-1.2%) saw by more measured reductions. 

Compared with a year ago, the value of commercial building approvals in the three months to May 2019 grew strongest in New South Wales (+23.7%), followed by Queensland (+14.8%) and Victoria (+1.9%). The largest reductions occurred in Tasmania (-47.3%) and the Northern Territory (-34.4%). Commercial building approvals have also fallen back in South Australia (-10.0%), the ACT (-5.6%) and Western Australia (-4.2%).

www.masterbuilders.com.au

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THE Queensland Resources Council (QRC) and the Greater Whitsunday Council of Mayors (GWCoMs) have signed an agreement to ensure a greater commitment to jobs and investments into the region’s economy.

QRC chief executive Ian Macfarlane said the new Memorandum of Understanding (MoU) would bring three mayors under one partnership with the resources sector to ensure the Mackay region would receive its fair share of the sector’s economic benefits.

“This MoU with the mayors of Mackay, Isaac and the Whitsundays regional councils recognises that the Mackay region will continue to be one of the most important contributors to the resources sector. We want to maximise our partnerships with regional Queensland to ensure they benefit from the wealth they generate through primary industries such as mining," Mr Macfarlane said.

“Our sector contributes $9.3 billion to the region and supports more than 56,000 full time jobs both directly in resources and in associated industries. This partnership will encourage more investment and a shared commitment to support regional economies,” he said.

“The QRC works openly and constructively with the Cr Anne Baker (Isaac Regional Council Mayor, and Chair of GWCoM’s), Cr Andrew Willcox (Mayor of Whitsunday Regional Council), and Cr Greg Williamson (Mayor of Mackay Regional Council) and this MoU will further enhance and progress these working relationships.

“Over the last 12 months the sector has spent $3.4 billion with 1,810 local businesses and 261 community organisations who are represented by these three mayors. Our sector has a resolute commitment to working with local communities and delivering the benefits from resources to all Queenslanders.”

The GWCoM’s and the QRC agree to the following principles over the next four years:

• promote the sustainable development of the Greater Whitsunday region’s mineral and energy reserves for growth in jobs, exports and investment;
• Educate the wider population on the different types of coal and their associated use and the economic value the coal sector generates at local, state and national level. Support the industry’s sustainable growth through planning infrastructure and social needs recognising the impact on local regional communities ie maximising benefits
• encourage community and industry to develop in such a manner that each supports the sustainable growth of the other through planning, infrastructure and social needs;
• support local communities within the Greater Whitsunday region;
• collaborate to ensure that royalties earnt from the Greater Whitsunday region are reinvested within the region in support of both the industry and the local communities;
• work together as needed for a successful outcome for any individual items that may be in dispute between individual members and groups within the region

Queensland’s resources sector invested $62.9 billion into the State’s economy in 2017-18 while supporting the full time jobs of 316,267 men and women. All of the industry’s economic contributions were achieved while operating within a strict environmental management framework and using only 0.1 per cent of Queensland’s land mass.

www.qrc.org.au

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NSW small business owners are encouraged to get on board with a new ‘Single Touch Payroll’ system that came into effect from July 1 for employers with less than 19 employees.

Minister for Finance and Small Business Damien Tudehope said the NSW Government had been helping businesses prepare for Single Touch Payroll with workshops through its Business Connect advisory service network.

“Single Touch Payroll is the new way of automatically reporting tax and super information to the Australian Taxation Office (ATO) and starts from 1 July 2019 for employers with 19 or less employees," he said.

“Employers will use Single Touch Payroll to electronically report their employees’ salaries and wages, pay as you go withholding tax, and superannuation information directly to the ATO each payday when they run their payrolls.

“Single Touch Payroll will benefit employers by streamlining payroll processes to reduce business costs and provide protections for staff by giving greater visibility to the ATO on unpaid superannuation or late payments.

“The new system will make completing paperwork easier for more than 250,000 businesses across the state by automating much of the payroll process and help them stay on top of their financial affairs. Each time you pay an employee and report through Single Touch Payroll, their tax and super information will be updated on the myGov website.

“The good news is the ATO advises there will be no penalties for mistakes or late reports for the first year, and if you are experiencing hardship or operate in an area with limited internet capabilities, there will be exemptions available,” Mr Tudehope said.

Michelle Smith, the office manager at Orange-based arborist business The Tree Surgeon, attended a workshop with Business Connect provider Central NSW Business HQ, which helped her implement Single Touch Payroll using Xero accounting software. 

“The workshop was very helpful and gave me the information and confidence I needed to implement Single Touch Payroll for our five staff ahead of 1 July,” she said.

Dean Squire, a former grain industry worker, who set up Cootamundra business Desi’s Fabrics and Blinds with his wife, attended a workshop with Business Connect provider BEC Advice South and West.

“Single Touch Payroll will be easier when doing our payroll as currently we manually do our tax and super each week and this will do it in one hit,” he said.

Small businesses that haven’t yet transitioned to Single Touch Payroll can visit ato.gov.au/stp for further information.

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HOSTPLUS and Club Super have jointly announced that they are in discussions in relation to a merger of the two superannuation funds.

The funds have entered into a memorandum of understanding to formally pursue discussions and undertake a comprehensive due diligence process, which is anticipated to lead to the two funds’ trustees signing a successor fund transfer deed approving the merger of Hostplus and Club Super.

As industry funds with a common member profit heritage and history, and focus on serving the hospitality, tourism, recreation and sporting sectors, both funds believe there is a strong alignment between the organisations which when combined are expected to deliver greater benefits and outcomes for their members.

Hostplus’ chief executive, David Elia, said today that this due diligence phase would allow both funds to more formally evaluate the merger proposal.

“We look forward to working with Club Super through this phase during which our funds’ members and their employers will continue to receive the same high-quality service and outcomes they have come to expect of us," he said.

“Along with Hostplus, we are keen to explore how a merger of our funds, based on shared values, our all profit to member philosophy and focus and track record in serving the hospitality, clubs and allied sectors, would better serve our members and stakeholders both here in Queensland and nationally”, Club Super chair, Sharron Caddie said.

Both funds confirmed that their respective members and employers will be kept informed of the outcomes of the funds’ discussions once the opportunity has been fully explored.

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