THE FOCUS on the small business sector in the lead-up to the election was a major factor in the win for the Coalition government, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Kate Carnell said today.

“A Sensis report a few weeks ago showed 35 percent of small to medium enterprises were undecided on who to vote for before the election, but they made their voice heard on the day and will expect the Coalition to act on its pre-election policy commitments,” Ms Carnell said.

“The returning government can start by responding to the review by Treasury of the unfair contract term legislation.

“ASBFEO, the Australian Competition and Consumer Commission (ACCC) and others have strongly recommended significant changes to the current unfair contract term legislation, backed by the Treasury report," Ms Carnell said.

“The major changes are making unfair contract terms illegal and punishable; increasing the contract size threshold to $1 million for contracts up to 12 months and $5 million for contracts greater than 12 months; and increasing the number of small businesses protected – those with a turnover of up to $10 million.

“The government should also require departments to comply with unfair contract term legislation," she said.

“The Coalition must re-introduce the legislation to address illegal phoenixing activity and provide some protection for small businesses, who often hurt the most when this happens.

“Action on payment times for small businesses will lift confidence, particularly the government’s undertaking to force the country’s top 3,000 big businesses to publish payment information annually on a reporting framework.

“We are pleased the government committed to move to pay small businesses within 20 days from July 1 and then develop a plan to introduce payment terms of five days when small businesses use e-invoicing," Ms Carnell said.

“Addressing the mental health of small business owners is also something we support. Earlier this year, Minister Cash convened two roundtables with key stakeholders were held, with the commitment to develop a small business mental health portal specifically for business owners. This is significant as much of the workplace mental health focus has been on employees," she said.

“There was a range of commitments made to small businesses during the election campaign and in the Budget and we look forward to working with the government to deliver on these to ensure SMEs continue to be the ‘engine room of the economy’.”

www.asbfeo.gov.au

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LEADING financial services education provider Kaplan Professional has engaged Dr Deen Sanders OAM, Deloitte leader ethics and professionalism, to help build and deliver the three bridging courses required by the Financial Adviser Standards and Ethics Authority (FASEA).

The bridging courses are aligned to FASEA’s curriculum and will combine Kaplan Professional's deep industry understanding and education calibre with Deloitte’s global expertise, insight and capability.

Due to such high demand from licensees and their financial advisers, Kaplan Professional is intending to offer enrolments for Ethics and Professionalism in Financial Advice in July if FASEA approval is granted. Pending FASEA approval, the education provider is preparing for September enrolments into the two other bridging courses: Financial Advice Regulatory and Legal Obligations and Behavioural Finance: Client and Consumer Behaviour, Engagement and Decision Making.

Kaplan Professional chief executive officer Brian Knight said he was delighted to work with Deloitte and especially Dr Sanders, Partner Deloitte, as he wanted to work with the very best people available to set the benchmark for adviser education.

“Together, we have assembled a team of market-leading academic and practitioner experts to build out these bridging courses," Mr Knight said. "This includes Sydney University behavioural scientists, and legal and professional ethics leaders from both Sydney University and the University of New South Wales.

“The involvement of Deloitte will ensure these bridging courses are best-in-breed – unprecedented, innovative and cutting-edge, and will significantly contribute to the fabric of adviser education. We wanted to go ‘above and beyond’ the norm and transform what is available in the market.

“FASEA has placed great importance on these three knowledge areas. This is a strong indication it sees improvement in these skills as integral to the future of the profession and to advisers’ performance.

“All advisers will have to complete a least one bridging course to meet the requirements, so we want to make this a valuable and engaging experience. It is imperative advisers gain practical and relevant outcomes that will benefit their career in the years to come … for the betterment of not only themselves, but the Australian public they serve,” Mr Knight said.

He added the fundamental contribution of Dr Sanders in the development of the bridging courses would be an enormous asset for the credibility of the content.

“Dr Sanders is renowned as a global leader in the field of ethics, trust and regulation and its impact on professional behaviour and conduct," Mr Knight said. "He has a deep and profound understanding of Australia’s financial services sector.

“In addition, he brings an unrivalled insight from his time at FASEA, understanding the vision for the professionalisation program in the Corporations Act to encourage sustained change in behaviour, to align with professionalism, and to champion a positive and long-term future for trusted financial advice,” he said.

Expressions of interest to enrol in Ethics and Professionalism in Financial Advice are open to advisers and scheduled to start as soon as July 8, 2019 when Study Period 4 commences.

Kaplan Professional is also hoping to offer Financial Advice Regulatory and Legal Obligations and Behavioural Finance: Client and Consumer Behaviour, Engagement and Decision Making in Study Period 5, which commences on September 2, 2019.

If approved by FASEA, all bridging course subjects will form part of Kaplan Professional’s Graduate Diploma of Financial Planning.

www.kaplanprofessional.edu.au

About Kaplan Professional

Kaplan Professional is one of Australia’s leading providers of financial planning, real estate, mortgage broking, insurance and leadership education. Kaplan Professional delivers education and training services to over 45,000 professionals each year. This includes over 1,500 corporate clients, encompassing the majority of financial services organisations in the country. 

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THE Palaszczuk Government must immediately reaffirm its support for the resource industry and resource jobs, with a commitment for long-term royalty stability and a fair go for all projects, Queensland Resources Council (QRC) chief executive Ian Macfarlane said today.

Mr Macfarlane said the message was clear after Queenslanders across resource communities voted so overwhelmingly for the Federal Coalition Government’s pro-mining and pro-jobs agenda and record.

“Queenslanders have spoken and their message is clear.  They support mining jobs and they expect their Governments to support them too,” Mr Macfarlane said.

“For the past 18 months, there have been too many mixed messages from the Palaszczuk Government when it comes to resources jobs. 

"The goal posts have been moved for projects like the Adani mine, and the Government has yet to rule out new royalty taxes on all coal mines, which would risk future projects and future jobs.

“Queenslanders don’t want a bet each way.  They want a future that includes resources jobs and the resources investment that is so important to regional Queensland," Mr Macfarlane said.

"They’ve got the backing of the South East corner too, including in Brisbane which is Queensland’s biggest mining town.

“You don’t need to work in a mine to depend on a strong resources industry. Our industry supports 315,000 Queenslanders into work, generates more than $60 billion for the economy and delivers 80 percent of the State’s exports. We also support more than 14,000 small businesses across the State, including across south-east Queensland,” he said.
 
“Prime Minister Scott Morrison and the LNP, particularly through Resources Minister Matt Canavan, were unequivocal in their support for the resources industry. Queenslanders responded to that. They voted for jobs.

“Prior to the election, Bob Brown and his convoy of cars drove around Queensland telling mine workers and people living in regional Queensland that they were wrong and that they should reskill.  There was no defence of these Queenslanders from the Queensland Government.

“The fact is Queensland needs resources and renewables.  We need to have a strong energy mix and we need to be able to give the world the resources they need to deliver their own energy mix," he said.

“Prior to the Federal election, QRC, the CFMEU and the Resources Industry Network called for certainty from the Palaszczuk Government on royalties imposed on the mining industry as it was sapping confidence from the sector.

“The QRC will be seeking to meet as soon as possible with the Premier to discuss the long-term future of the resources sector.”
 
Mr Macfarlane said the QRC would continue to seek commitments from the Palaszczuk Government on:

• no changes to the rates of royalties on all resource commodities, including coal, to ensure future investment in proposed resource projects and jobs are not put at risk;

• assessment and approval processes of all projects based on science, free from political interference, and overseen by the Office of the Coordinator-General;

• confirmation the Government will oppose, as the Parliamentary Committee recommended, the Greens’ legislation prohibiting mining in the Galilee Basin in central Queensland;

• and genuine consultation with the QRC on any changes on policies or programs that will have material impact on the industry.

www.qrc.org.au

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THE executive director of the Australian Retailers’ Association, Russell Zimmerman, said today the re-election of the Morrison Government was “a win for retailers” that was warmly welcomed by the retail sector.

Commenting on the election – in which ongoing counting appears to have re-elected the Coalition with an outright majority – Mr Zimmerman said the outcome would provide certainty for retail businesses, whilst offering opportunities for the sector to engage and address issues of concern with government.

“On behalf of Australia’s $320 billion retail sector, we’d like to offer our warmest congratulations to the Prime Minister and his team on their victory in a hard-fought contest at Saturday’s federal election,” Mr Zimmerman said.

“We look forward to continuing to work with the government on a raft of issues affecting our members."

Mr Zimmerman singled out Labor’s promise to legislate to reverse penalty rate reductions in retail, hospitality and pharmacy, and emphasised the ARA would continue to resist any move to implement such a policy.

“The independent umpire – the Fair Work Commission, set up by Labor – makes evidence-based determinations regarding issues such as penalty rates, and its independence must be respected,” Mr Zimmerman said.

“We hope the election result puts an end to attempts to interfere politically with bodies such as the FWC.”

Mr Zimmerman said that with retail growth in 2017-18 being the lowest on record, it was crucial the retail sector and government were in lockstep on issues that affected the trading environment in which retailers operate.

“Governments don’t determine trade or turnover, but what they administer dictates the conditions with which our retail member businesses must work to be profitable, to make a living, and create jobs,” Mr Zimmerman said.

“The Morrison Government has signalled a commonsense approach to workplace relations, business energy costs, lower taxes, cutting red tape, and taking a rational view on climate change, and we welcome its re-election to office,” Mr Zimmerman concluded.

About the Australian Retailers Association

Founded in 1903, the Australian Retailers Association (ARA) is Australia’s largest retail association, representing the country’s $320 billion sector, which employs more than 1.3 million people. As Australia’s leading retail peak industry body, the ARA is a strong pro-active advocate for Australian retail and works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,800 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

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