MANUFACTURER FACES COURT FOR IGNORING COMPO CLAIMS

MANUFACTURER FACES COURT FOR IGNORING COMPO CLAIMS

A MELBOURNE manufacturer will front court for failing to compensate an overseas worker it had unfairly dismissed. The Fair Work Ombudsman has commenced legal proceedings in the Federal Circuit Court against Monochromatic Engineering over an Iranian worker. The service technician was in Australia on a 485 temporary graduate visa and la...

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NEW NATIONAL MINIMUM WAGE KICKS IN FROM TOMORROW

NEW NATIONAL MINIMUM WAGE KICKS IN FROM TOMORROW

AUSTRALIA'S new minimum wage comes into effect tomorrow. The hourly rate for adult workers will increase from $17.29 to $17.70 starting from the first pay period on or after July 1. Fair Work Ombudsman Natalie James says the agency's online pay tools can assist employers to calculate their new wage rates to ensure they meet wo...

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GOLD COAST SECURITY BUSINESS HIT WITH RECORD FINE

GOLD COAST SECURITY BUSINESS HIT WITH RECORD FINE

GOLD COAST business Step Ahead Security Services has been slugged with a record fine of $308,000 in Federal Circuit Court for underpaying employees. Judge Michael Jarrett ordered owner Owen Ivor Jennings to personally back-pay eight security guards a total of $22,779 for work completed over three months in 2014. The Fair Work Ombudsma...

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EWM GROUP SIMPLIFIES PHILANTHROPY

EWM GROUP SIMPLIFIES PHILANTHROPY

BRISBANE family office EWM Group has made it easier for clients to give back with the launch of a specialist philanthropy offering. GivingSimple offers advice on how individuals, families and businesses can support communities, charities and causes of their choice without having to establish their own philanthropy structure. Donors ca...

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CHEAPER FARES IN QLD PUBLIC TRANSPORT CRACKDOWN

CHEAPER FARES IN QLD PUBLIC TRANSPORT CRACKDOWN

COMMUTERS are set to benefit from cheaper fares following a major overhaul in south-east Queensland's public transport system. Under the Palaszczuk Government's Fairer Fares package, single zone travel during peak time will be reduced from $3.35 to $3.20 from next year. Customers will be able to travel further within a zone, w...

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SPORTSCRAFT WEARS PENALTY FOR MISLEADING CONDUCT

SPORTSCRAFT WEARS PENALTY FOR MISLEADING CONDUCT

CLOTHING retailer Sportscraft has paid a $21,600 penalty following an industry-wide investigation by the Australian Competition and Consumer Commission (ACCC). During its inquiry, the ACCC issued infringement notices to Sportscraft citing reasonable grounds for believing that the retailer had been making false or misleading representation...

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STORM DAMAGE CLAIMS HIT $38M

STORM DAMAGE CLAIMS HIT $38M

THE severe storms that pummelled the east coast over the weekend have been declared an insurance catastrophe with claims tipping $38 million. The Insurance Council of Australia (ICA) has recorded more than 11,150 claims from across the east coast of Queensland and NSW over damage related to heavy rainfall. ICA acting CEO Karl Sullivan...

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TAX OFFICE RETIRES E-TAX FOR FASTER SYSTEM

TAX OFFICE RETIRES E-TAX FOR FASTER SYSTEM

ALL taxpayers will have to switch to myTax this year after the Australian Taxation Office shut down its legacy online lodgement tool e-tax. The ATO upgraded the replacement tool over the past year to make it suitable for any Australian lodging their own return regardless of their tax affairs. First introduced in 2014, myTax reduces th...

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PRICE WARS DRIVE RETAIL SPENDING

PRICE WARS DRIVE RETAIL SPENDING

AUSTRALIANS are taking advantage of sales and price wars by spending big on groceries, household goods and clothing. National retail spending increased 3.6 per cent year-on-year in April while food retailing lifted 2.4 per cent, according to the Australian Bureau of Statistics. The Australian Retailers Association (ARA) says the figur...

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SCAMS ON THE RISE WITH AUSSIES DUPED $85M

SCAMS ON THE RISE WITH AUSSIES DUPED $85M

SCAM losses are up compared to a year earlier with $85 million reported lost in 105,200 complaints to the competition watchdog. The Australian Competition and Consumer Commission's Scamwatch recorded 91,600 scam complaints totalling $82 million in 2014. ACCC deputy chair Delia Rickard says the agency has ramped up its campaign war...

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QPCU SET TO BECOME QUEENSLAND'S NEWEST BANK

QPCU SET TO BECOME QUEENSLAND'S NEWEST BANK

QUEENSLAND Police Credit Union (QPCU) will rebrand as QBANK to reflect its broadening membership base. The move will see the community services financial institution become Queensland's newest bank on July 1, subject to final approval from the Australian Prudential Regulation Authority (APRA). QPCU CEO Grant Devine says the name c...

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BUDGET 2016: WHAT IT MEANS FOR BUSINESS

BUDGET 2016: WHAT IT MEANS FOR BUSINESS

BUSINESS is at the forefront of the 2016 federal budget, with SMEs set to see their company tax rate fall to 27.5 per cent from July 1 this year. Treasurer Scott Morrison announced the company tax break in his first budget overnight, a further 1 percentage point reduction for small businesses with annual turnover less than $2 million. ...

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ECONOMIC OPTIMISM SET TO BOOST COMPANY SPENDING

ECONOMIC OPTIMISM SET TO BOOST COMPANY SPENDING

AUSTRALIA'S largest companies have a renewed sense of optimism for the economy and plan to spend big this year to facilitate growth, a new study reveals. The American Express/CFO Research Global Business and Spending Monitor shows 64 per cent of CFOs anticipate economic growth in Australia over the next 12 months, with 81 per cent indi...

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LENDERS 'VULNERABLE, DOWN A BLACK HOLE'

LENDERS 'VULNERABLE, DOWN A BLACK HOLE'

THE corporate watchdog put a spotlight on the cash loan market when it ordered Nimble Australia to repay borrowers $1.5 million last month over allegations that it was not adhering to responsible lending obligations. But now the National Credit Providers Association (NCPA) has launched its own offensive against the authorities, blaming lo...

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ATO TARGETS HIDDEN CASH ON THE GOLD COAST

ATO TARGETS HIDDEN CASH ON THE GOLD COAST

GOLD Coast restaurant operators have been put on notice by the Australian Taxation Office that they could get a knock on the door from its agents as part of a national program that has already targeted Sydney, Melbourne and Adelaide. The ATO says it will be visiting about 250 restaurants, cafés and take-away shops, as well as hair ...

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NIMBLE ORDERED TO REPAY $1.5M TO BORROWERS

NIMBLE ORDERED TO REPAY $1.5M TO BORROWERS

PAYDAY lender Nimble Australia has been forced to refund more than 7000 customers a total of $1.5 million following a probe into its activities by the corporate watchdog. The Australian Securities and Investments Commission says its investigation was triggered by concerns that Nimble was not adhering to responsible lending obligations. ...

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EMPLOYERS URGED TO CHECK EASTER PAY RATES

EMPLOYERS URGED TO CHECK EASTER PAY RATES

EMPLOYERS are being urged to check the pay rates and entitlements that apply to their business over Easter, to avoid having egg on their face with Fair Work. Fair Work Ombudsman Natalie James says most underpayments are inadvertent and the result of employers failing to check their minimum obligations under workplace laws. "Wheth...

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ASSET 'MINER' DIGGING FOR THE NEXT BIG THING

ASSET 'MINER' DIGGING FOR THE NEXT BIG THING

THE Gold Coast investment firm that helped Brisbane-based veterinary company Greencross (ASX:GXL) float on the stock exchange is exploring opportunities as diverse as lithium, coffee and agriculture to uncover the next big deal. Strategic Equity Alliance, headed by Glenn Gaudet and Justin Broad, has appointed youthful mining industry vete...

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'DUMB' LENDING RULES GIVE FOREIGN INVESTORS THE EDGE

'DUMB' LENDING RULES GIVE FOREIGN INVESTORS THE EDGE

TOUGHER lending rules by Australian banks are giving foreign investors an unfair advantage in the property market, according to Aussie Home Loans founder John Symond (pictured). The finance industry veteran says that while he is comfortable with a broad range of initiatives introduced by the Australian Prudential Regulation Authority (APR...

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QUEENSLAND NEEDS TO SNAP OUT OF IT: DELOITTE

QUEENSLAND NEEDS TO SNAP OUT OF IT: DELOITTE

QUEENSLAND has been urged to snap out of the slump mentality and capitalise on the investment legacy created by the now defunct resources boom. Deloitte Access Economics' latest Queensland Business Outlook report says instead of looking at the boom as if it is a hole that needs to be filled, the state should be focusing on its traditi...

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