THE peak body for the Residential Land Lease Community industry warmly supports the Federal Government's announcement today of the Homebuilder grant.

With over 100,000 Australians already choosing the lifestyle and security of a land lease community, the Homebuilder grant will allow many more Australians to downsize out of the suburbs through the construction of a new house within a residential community, according to the chair of the Residential Land Lease Alliance, James Kelly.

Mr Kelly said the grant, available on new contracts from June 4, will not only stimulate new housing sales, but will free up equity for older Australians to otherwise spend through the economy, while also assisting housing stocks of established homes in the suburbs for families looking to get into the housing market.

“The benefits of a land lease community are being recognised by more and more Australians as they look to move into their next phase of their life and prepare for an active and connected lifestyle,” Mr Kelly said..

“The market has been somewhat subdued with the uncertainty of the COVID-19 crisis, but today’s announcement, along with the strict hygiene and social distancing procedures of the industry, will provide confidence for Australians to jump into land lease community living.

The land lease community model allows for Australians to purchase a home -- as an asset and able to be re-sold -- on land with a right to tenure, and gain access to community facilities.  This is proving a popular model for older Australians looking to free up capital, lead a social and active life, while having the security of independent living, Mr Kelly said.

www.lifestylecommunities.com.au

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THE House of Representatives Standing Committee on Economics will hear from ME Bank, the Australian Securities and Investments Commission (ASIC), and the Australian Prudential Regulation Authority (APRA) at an urgent public hearing by videoconference on June 3, 2020.

This hearing is part of the committee’s ongoing review of the four major banks and other financial institutions.

The Chair of the committee, Tim Wilson MP, said, "Australians who take out a banking product expect it to be available when they need it, not nabbed in the middle of the night without notification."

On May 14, 2020 the committee scrutinised ME Bank on its actions earlier this year in restricting customers’ access to redraw facilities. Since ME Bank’s appearance, the committee has sought information from APRA and ASIC on ME Bank’s conduct and engagement with the regulators on this issue.

"The discrepancy between ME Bank’s evidence to the committee and advice from ASIC is deeply concerning and requires further scrutiny," Mr Wilson said.

Public hearing details

Date: Wednesday, 3 June 2020
Time: 12pm to 1pm
Location: Videoconference

12pm – ME Bank
     ASIC
     APRA
 1pm – Finish

The hearings will be webcast at aph.gov.au/live.

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GWA Group, the leading supplier of bathroom and kitchen products in Australia to the commercial construction and home building/renovation sectors, has strongly endorsed Federal Government initiatives to boost new home and renovation construction as part of the coronavirus recovery plan.

With the two main household priority areas for renovation being kitchens and bathrooms, where multiple trades are employed, government stimulus will be particularly effective in boosting employment in key construction trades.

According to GWA estimates, each 10 percent increase in residential renovation activity alone will, in an average month, create an incremental 140,000 to 150,000 direct on-site trade jobs plus significant further upstream local jobs in trades such as brickmaking, window construction, concreting and more.

GWA also recommended  the Federal Government should link any incentives for new home and renovation projects where householders receive cash grants from the Federal Government to the mandatory installation of water efficient, highest rated WELS toilets, taps and showers.

“Australia is the driest continent on earth and with water scarcity continuing to be a major issue, we urge the Government to mandate water efficient sustainable solutions to preserve precious water resources for future generations of Australians,” GWA managing director, Tim Salt said.

GWA has a proven commitment to develop sustainable products which are highly water efficient. These technologies have been supported by government initiatives to conserve Australia’s water resources and energy. GWA was the first company to develop the two-button dual flush toilet system in 1982, which now saves the equivalent of a Sydney Harbour of water (c 500GL) every year in Australia.

GWA’s latest innovation, Caroma Smart Command, offers a hygienic touchless bathroom solution for commercial buildings that can reduce a building’s water consumption by 25 percent.

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WEALTH manager Atlas Advisors Australia has acquired a significant share in the Elanor Wildlife Park Fund.

The fund consists of two iconic wildlife park assets: Featherdale Wildlife Park, located in Western Sydney and managed by ENN since 2013, and Mogo Zoo located in Batemans Bay on the NSW South Coast.

Executive chairman of Atlas Advisors Australia, Guy Hedley said the two wildlife parks were core attractions for domestic tourism with a mixture of property and longstanding and profitable business assets.

The Elanor Wildlife Park Fund is the first of its kind in Australia and is looking to capitalize on the growing nature-based tourism industry.

Mr Hedley said parties were looking to add other private zoo and wildlife park assets to the portfolio. He said nature-based tourism is the fastest growing sub-sector of the tourism industry in Australia and around the world.

“It is the perfect time to invest with nature-based tourism experiencing strong growth and much potential in the industry yet to be realised,” Mr Hedley said.

“As our environment comes increasingly under threat, wildlife parks and ecotourism offer residents and tourists the ability to experience, enjoy and learn about wildlife and nature in an animal-friendly and environmentally sustainable way.

“These organisations also contribute to building resilient regional economies which generate employment and innovative new experiences and products.”

Mr Hedley said there are around 86 private and 14 public zoos, wildlife parks and sanctuaries across Australia which present further acquisition and consolidation opportunities for the fund.

“These are a recession-proof assets that align with our strategy to ensure investment is put towards socially and environmentally responsible organisations,” Mr Hedley said.

“It also corresponds with investor calls for good corporate citizenship and increasing appetite for socially responsible investing.”

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, Atlas is able to support investors in all China and Australia locations.

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BUDDING entrepreneurs at Queensland high schools have an opportunity to turn their enterprising ideas into a bonafide business with a new competition being launched by Brisbane-based RTO, Binnacle Training (RTO Code 31319).

Binnacle wants to empower students with a knack for business with their new Binnacle Boss initiative which requires students to present a 2-3 minute video pitch of their start-up business idea.

Binnacle is tipping that isolation may have inspired some original business ideas and even new video skills courtesy of TikTok which was a surprise lockdown hit for bored teenagers.

The young entrepreneur competition is open to all Queensland secondary school students from Grade 7-12. Students can enter individually or in teams of up to four and have multiple submissions over the course of the competition.

Video pitches will be judged on their creativity, impact, and innovation by an expert panel of successful business owners. These include Leanne Kemp, Queensland’s Chief Entrepreneur, and Taj Pabari who’s renowned for his transition from suspended schoolboy to teenage entrepreneur and was awarded Queensland’s Young Australian of the Year in 2017.

Boss prizes are up for grabs for the top three videos, as well as an Audience Prize winner. The haul includes Business Start-up Packages worth over $5,000, with mentoring and financing sessions, marketing collateral, podcast exposure, work experience, and access to potential investors to get businesses off the ground.

“One common theme we know from working with teachers is that students have incredible ideas but lack the resources and confidence to turn their vision into a reality,” Binnacle Training CEO Aaron Bulow said.

“Our goal is to provide a springboard for students who have ideas but don’t know how to action them,” he said.

Students, start brainstorming now to become the inaugural Binnacle Boss! The competition is open from now until August 31, with winners to be announced on September 18.

To view the entire list of judges click here.

Click here for the Binnacle Boss Resource Hub 
Facebook - https://www.facebook.com/binnacleboss/
Instagram - https://www.instagram.com/binnacleboss/

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THE Queensland Government has committed to establishing domestic procurement targets focussed on enhancing opportunities for small and local businesses, according to the Chamber of Commerce and Industry Queensland (CCIQ).

CCIQ  has been calling for a procurement policy, including setting a small business target.

CCIQ’s general manager of advocacy and policy, Amanda Rohan, said the announcement would give businesses some confidence in securing government contracts.

“Queensland is rich with diverse and capable small businesses. However, there are barriers when competing for government contracts,” Ms Rohan said.

“Today’s announcement is a positive first step in removing some of those barriers, and shows the government is serious about doing business with SMEs.

“We welcome the reduced payment terms, however would like to see this lowered more significantly. Many businesses are restricted due to cashflow and tighter payment terms will alleviate that pressure.

“We have been calling for a procurement framework for some time, but it is now more essential than ever," Ms Rohan said.

“Putting policies in place to support and enable businesses to succeed is crucial and needed to see economic growth and job stability around the state,” she said.

In February, CCIQ wrote to all Queensland MPs outlining the need for a procurement framework and asked for their commitment to working with the business sector in creating one.

CCIQ’s procurement framework includes:

• Setting up an open procurement platform across all government agencies;
• Breaking up government tenders to smaller components so small businesses have more opportunities to supply goods and services;
• Simplifying government tender documents and assessments criteria;
• Implementing payment terms of 5 business days for small suppliers.

The Labor, LNP, Katter and Greens parties all responded with agreement and commitment on working towards this framework.

www.cciq.com.au

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THE House of Representatives Standing Committee on Procedure is holding a public hearing as part of its inquiry examining the practices and procedures relating to question time in the House.

Chair of the committee, Ross Vasta said the committee would hold a public hearing by teleconference tomorrow, June 4.

“This is the first of the committee’s public hearings into this inquiry,” Mr Vasta said.

“I’m really looking forward to the feedback and looking into ways we can make it easier for people to engage with question time and be part of the process.”

Deputy chair of the committee Milton Dick said the committee would hear from a range of witnesses about how question time could be improved.

The committee has received more than 40 submissions and has conducted surveys to seek suggestions from the public and from Members on the rules and conventions around question time and opportunities for change.

At the conclusion of its inquiry, the committee will make recommendations to the House for its consideration. Further information about the inquiry is available on the committee’s website.

Public hearing details

Date: Thursday, June 4, 2020
Time: 11am to 3.45pm
Location: Teleconference

Indicative times:
11am – 12 noon: Mr Harry Jenkins
1pm – 2pm: Ms Anna Burke
2pm –2.45pm: Professor Colleen Lewis
3pm–3.45pm: Accountability Roundtable
3.45pm: Close

The hearing will be broadcast live at aph.gov.au/live.

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THE House of Representatives Standing Committee on Economics will hear from the General Insurance Code Governance Committee and the Insurance Council of Australia, as well as insurers at a public hearing via videoconference on June 3, 2020, as part of its ongoing Review of the Four Major Banks and other Financial Institutions.

The chair of the committee, Tim Wilson MP, said, "These hearings are an important mechanism for the Parliament to publicly scrutinise and hold Australia’s insurance sector to account.

"Insurance is an essential way that Australians and Australian businesses manage risk and protect themselves from financial loss after disaster strikes. Australians must be able to rely on the insurance sector to provide high-quality policies and respond quickly when claims are made.

‘The General Insurance Code Governance Committee’s recent findings regarding the substantial increase in code breaches is concerning. It is important that insurers have strong code compliance and governance frameworks in place to ensure that consumers are receiving the protections afforded to them by the code," Mr Wilson said.

"The COVID-19 pandemic has also raised a number of relevant issues relating to policy coverage ranging from travel insurance to lenders mortgage insurance that also need to be explored."

Public hearing details

Date: Wednesday, 3 June 2020
Time: 1pm to 4.30pm
Location: Videoconference

The hearings will be webcast at aph.gov.au/live.