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August 3, 2008

Law of the Pacific Islands

Australia is frequently referred to as part of Asia Pacific but we have little knowledge of our Pacific Island neighbours.

LLRX has published a guide to resources on the law of the Pacific Islands.

What are the Pacific Islands?

American Samoa; Commonwealth of Northern Mariana Islands; Cook Islands; Easter Island; Federated States of Micronesia; Fiji; French Polynesia; Guam; Hawaii; Kiribati; Marshall Islands; Midway Is.; Nauru; New Caledonia; Niue; Norfolk Island; Palau; Papua New Guinea; Pitcairn Is.; Samoa; Solomon Is.; Tokelau; Tonga; Tuvalu; Vanuatu; Wallis and Futuna.

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Posted 3rd August 2008 by David Jacobson in Business Planning

July 28, 2008

Standing Committee of Attorneys‑General (SCAG) July meeting

The Standing Committee of Attorneys‑General (SCAG) meeting on 25 July 2008 discussed over 20 matters of substantive legal reforms for all jurisdictions, focussing on issues of national importance.

Key Decisions

Significant progress was made in reform areas including work towards a national register of suppression orders, proportionate liability, evidence laws, a judicial exchange program, indigenous justice issues, harmonisation of anti‑discrimination laws and criminal laws.

Other areas considered were:

  • Personal Property Securities Law Reform
  • Electronic Transactions Amendments
  • Statutes of Limitation
  • National Electronic Conveyancing System

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Posted 28th July 2008 by David Jacobson in Business Planning

July 24, 2008

Government issues National Rental Affordability Scheme Call For Applications

Treasurer Wayne Swan and Minister for Housing Tanya Plibersek have issued the first Calls for Applications for incentives for the National Rental Affordability Scheme.

Under the scheme, the Australian Government has combined with State and Territory Governments to offer incentives to institutional investors and housing providers to build 50,000 new rental properties, which will be rented out at 20 per cent below market rate. 

In order to stimulate investment, the Scheme will offer investors:

  • a Commonwealth incentive of $6,000 per dwelling per year refundable tax offset or payment; and
  • a State or Territory incentive of $2,000 per dwelling per year in direct or in kind financial support.

The five mandatory requirements are as follows:
1. dwellings will be rented to ‘eligible tenants’
2. dwellings will be rented for a period of 10 years
3. dwellings will be rented at a rate that is at least 20 per cent below the market rate
4. dwellings must either:
a. not have previously been occupied; or
b. not have been previously zoned for residential purposes; or
c. have been made fit for occupancy where otherwise the dwelling was ‘recognised’ as being uninhabitable; or
d. have been subdivided to produce more dwellings than were previously available on the identified block and section
5. dwellings will comply with State, Territory and local government, planning building codes and requirements.

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Posted 24th July 2008 by David Jacobson in Business Planning

July 4, 2008

COAG 3 July 2008 communique

The 3rd meeting of COAG since the Rudd Government was elected reflects its commitment to drive reform.

The communique identifies the outcomes including:

  • Leaders signed an agreement to end the fragmented and inconsistent
    approach to the protection of workers’ occupational health and safety.
    This will see the implementation of uniform legislation, complemented by consistent
    compliance and enforcement.
  • COAG has also agreed to develop a national trade licensing system that will
    remove inconsistencies across State borders and allow for a much more mobile
    workforce. A new national system will be signed off by COAG in December 2008. COAG has agreed that the national system will initially apply
    to the following trades:

    • air conditioning and refrigeration mechanics occupations;
    • building occupations;
    • electrical occupations;
    • land transport occupations (passenger vehicle drivers, dangerous goods);
    • maritime occupations;
    • plumbing occupations; and
    • property agent occupations.
  • COAG also agreed to a new Business Names Registration system
  • A new Standard Business Reporting program was also agreed by COAG that will
    radically streamline the myriad of financial reporting requirements on businesses.
  • the Commonwealth will take over responsibility
    for the regulation of trustee companies, mortgage broking, margin lending and
    non‑deposit lending institutions as well as remaining areas of consumer
    credit. The Business Regulation and Competition
    Working Group will examine this matter and report back to COAG in October 2008.
  • COAG has agreed that the Commonwealth
    will assume responsibility for the making of permanent product bans and standards
    under the Trade Practices Act 1974. States will retain powers to issue
    interim product bans.
  • A new electronic conveyancing system is to commence in 2010.

Other future reform priority areas were agreed on.

COAG will meet again in Perth on 2 October 2008.

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Posted 4th July 2008 by David Jacobson in Business Planning, Compliance, Corporations Act, Deregulation, Financial Services, Trade Practices, Workplace

June 11, 2008

Freedom of Information to become The Right to Information in Queensland?

The independent expert panel appointed by the Queensland Government to undertake a comprehensive review of the Freedom of Information Act 1992 has delivered its report titled The Right to Information .

The 423 page report proposes a new definition for the "public interest" exemption and a redrafting and scaling back of the cabinet documents exemption as well as moving personal information into a new privacy regime.

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Posted 11th June 2008 by David Jacobson in Business Planning, Privacy

May 28, 2008

Same-Sex Discrimination and Commonwealth superannuation schemes

Attorney-General
Robert McClelland
has introduced  the
Same-Sex Relationships (Equal Treatment in Commonwealth Laws –
Superannuation) Bill 2008
to remove same-sex
discrimination from Acts governing Commonwealth superannuation schemes.

The Bill makes amendments so that same-sex couples are
no longer denied the payment of death benefits from superannuation
schemes or the tax concessions on death benefits currently made
available to opposite-sex couples.

The superannuation schemes covered by the reforms are:

  • the Commonwealth Superannuation Scheme
  • the scheme under the Superannuation Act 1922
  • the Defence Force Retirement and Death Benefits Scheme
  • the Defence Forces Retirement Benefits Scheme
  • the Judges’ Pensions Scheme
  • the Federal Magistrates Disability and Death Benefits Scheme
  • the Governor-General Pension Scheme, and
  • the Parliamentary Contributory Superannuation Scheme.

Other
Commonwealth superannuation schemes, such as the Military
Superannuation and Benefits Scheme and the Public Sector Superannuation
Scheme, will be amended by delegated legislation. 

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Posted 28th May 2008 by David Jacobson in Business Planning

May 25, 2008

National business names registration scheme

Commonwealth, State and Territory Small Business Ministers have agreed
in-principle to a national business names initiative which will establish a one-stop online shop for businesses to
apply and pay for a national business name online through
a single application covering both a business name and Australian
Business Number (ABN).

To
register a business name nationally at present, businesses have to
apply separately in each State and Territory and pay a fee eight times
at a total cost of around $900.

The new system will be much cheaper and quicker, enabling a single registration for a single fee.

Those
businesses that want to register a name in a single State or Territory
will still be able to do so
within the national system.

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Posted 25th May 2008 by David Jacobson in Business Planning, Deregulation

May 21, 2008

National Health Workforce Registration and Accreditation Scheme

The
Council of Australian Governments (COAG) at its meeting of 26 March
2008 signed an Intergovernmental Agreement on the health workforce.

This
agreement will  create a single national registration
and accreditation system
for nine health professions: medical
practitioners; nurses and midwives; pharmacists; physiotherapists;
psychologists; osteopaths; chiropractors; optometrists; and dentists
(including dental hygienists, dental prosthetists and dental
therapists).

The new scheme will
maintain a public national register for each health profession that
will ensure that a professional who has been banned from practising in
one place is unable to practise elsewhere in Australia.

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Posted 21st May 2008 by David Jacobson in Business Planning, Deregulation

May 14, 2008

Register of Lobbyists finalised

Lobbyists must register on the Commonwealth’s Register of Lobbyists.

A lobbyist is defined in clause 3 of the Lobbying
Code of Conduct
to mean a person, company or organisation who conducts
lobbying activities on behalf of a client or whose employees conduct lobbying activities on behalf of
a client. These lobbyists are sometimes known as consultant lobbyists, or third party lobbyists.

The Code does not apply to in-house lobbyists, such as government relations staff employed by companies
to make representations to government on behalf of the company that employs them, or staff employed in
peak industry bodies or trade unions who make representations to government on behalf of their industry
or their members. These people are not required to register.

There are a number of exclusions from the definition. These include:

  1. charitable, religious and other organisations or funds that are endorsed as deductible gift recipients
  2. non-profit associations or organisations constituted to represent the interests of their members
    that are not endorsed as deductible gift recipients
  3. individuals making representations on behalf of family members or friends about their personal
    affairs
  4. members of trade delegations visiting Australia
  5. persons who are registered under an Australian Government scheme regulating the activities of
    members of that profession, such as registered tax agents, Customs brokers, company auditors
    and liquidators, provided that their dealings with Government representatives are part
    of the normal day to day work of people in that profession, and
  6. members of professions, such as doctors, lawyers or accountants, and other service providers,
    who make occasional representations to Government on behalf of others in a way that is
    incidental to the provision to them of their professional or other services. However, if a significant
    or regular part of the services offered by a person employed or engaged by a firm of lawyers, doctors,
    accountants or other service providers involves lobbying activities on behalf of clients
    of that firm, the firm and the person offering those services must register and identify the clients
    for whom they carry out lobbying activities.

The Register of Lobbyists will be fully operational from 1 July 2008. From that date, any lobbyist who wishes
to contact a Government representative for the purpose of lobbying activities must be registered
and must agree to comply with the requirements of the Code.

The Register is a public document that contains the following information about  lobbyists who make
representations to Government on behalf of their clients:

  • the business registration details and trading names of each lobbyist including, where the business
    is not a publicly listed company, the names of owners, partners or major shareholders, as applicable
  • the names and positions of persons employed, contracted or otherwise engaged by the lobbyist to
    carry out lobbying activities, and
  • the names of clients on whose behalf the lobbyist conducts lobbying activities.

See Open and Shut for comment.

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Posted 14th May 2008 by David Jacobson in Business Planning

Budget details for business

The Budget details have been released. The thrust of the Budget is delivery of election announcements; the Budget reveals the conditions and costings.

Worth noting from the Treasurer’s speech:

Supporting business

Mr Speaker, the Government supports the aspirations of Australian business, including small business, for a simpler tax system and less regulation.

Our nation has the potential to be a financial services hub in the Asia Pacific Region – the fastest growing region in the world. To support this ambition, the Budget begins the process of significantly reducing the withholding tax, by reducing the current interim rate of 30 per cent to a final rate of 7.5 per cent for most non resident investors.

This Budget confirms our commitment to a comprehensive agenda of regulation reform – cutting red tape and making it easier for business, particularly small business, to deal with government.

To improve innovation and productivity, the Government will invest $251 million over five years to establish Enterprise Connect Innovation Centres….

COAG Reform Fund

Where funds are used to finance capital projects with the States, they will be distributed to the States from the three new funds I have just announced through a new Council of Australian Governments (COAG) Reform Fund.

The COAG Reform Fund will also distribute funding provided in future budgets to the States for recurrent expenditure in areas of COAG national reforms, through new National Partnership payments.

In 2008 09, the States will receive $78.6 billion in total payments, an increase of 4.8 per cent. And new financial arrangements will allow all levels of government to work together to improve outcomes and reduce costs…

Australia’s future tax system

Tonight, I confirm the most comprehensive review of Australia’s tax system since World War 2. The Australia’s Future Tax System (AFTS) review will be reporting progressively from this July through to the end of 2009.

Treasury details

Revenue details are in Budget Paper 2 starting with Treasury’s delivery of the Government’s election commitments including the income tax cuts from 1 July 2008:

 
   

   

   

   

 

 

   

   

   

   

   

   

   

   

   

   

   

 

 

   

   

   

   

   

   

   

   

   

   

   

 

 

   

   

   

   

   

   

   

   

   

   

   

 

 

   

   

   

   

   

   

   

   

   

   

   

 

 

   

   

   

   

   

   

   

   

   

   

   

 

 

   

   

   

   

   

   

   

   

   

   

   

 

Current From 1 July 2008 From 1 July 2009 From 1 July 2010
Taxable income
      ($)
Rate
      (%)
  Taxable income
      ($)
Rate
      (%)
  Taxable income
      ($)
Rate
      (%)
  Taxable income
      ($)
Rate
      (%)
0 – 6000 0   0 – 6000 0   0 – 6000 0   0 – 6000 0
6,001 – 30,000 15   6,001 – 34,000 15   6,001 – 35,0000 15   6,001 – 37,000 15
30,001 – 75,000 30   34,001 – 80,000 30   35,001 – 80,000 30   37,001 – 80,000 30
75,001 – 150,000 40   80,001 – 180,000 40   80,001 – 180,000 38   80,001 – 180,000 37
150,001 + 45   180,001 + 45   180,001 + 45   180,001 + 45

Other Treasury -related announcements can be found here including:

  • Family trusts
  • Political donations — removing tax deductibility
  • Capital gains tax — extend small business concessions
  • Depreciation of computer software
  • Employee share schemes — election requirements
  • FBT refinements
  • GST and the sale of real property
  • Increasing the Luxury Car Tax
  • Managed funds — changes to the eligible investment rules
  • Taxation of Financial Arrangements

And here are the details of the Superannuation Clearing House Facility and First Home Saver Accounts.

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Posted 14th May 2008 by David Jacobson in Business Planning, Deregulation, Tax
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