NAMRO Services

Reserve Bank Holds the Official Interest Rate at 4.75%

The Board of the Reserve Bank of Australia met today for its monthly meeting having to come to terms with a rapidly changing situation in our local economy.

Until very recently the expectations of economists and analysts had generally been that the RBA’s action in holding interest rates steady at 4.75% since its November meeting was likely to be reviewed with an increase to the cash rate at its April meeting today.

However, the February reports from the Australian Bureau of Statistics released in the past fortnight prompted a major re-think. The ABS figures showed that Australia’s resources boom had regained its momentum faster than expected with commodity prices once again increasing rapidly.

Conversely, consumer confidence is suffering. Living costs are increasing steadily, employment growth has stalled, consumers have closed their wallets and are saving their money rather than spending, so retail revenues are significantly down, as are credit applications. The threat of inflation and the strong AUD are also lurking in the background.

In the last couple of weeks, economists reversed their forecasts to predict that while the RBA was expected to hold rates this month, it may well start adjusting official interest rates by the middle of this year if the economy outside the mining sector does not improve

There is no better time than NOW to review your individual financial circumstances.

Please contact us to discuss your circumstances and options.

We have all watched in disbelief over the last month as we saw images of our state engulfed in the worst flooding many of us have seen in our lifetime. 

www.business.qld.gov.au.

I urge small businesses affected by the flood to utilise special disaster flood assistance grants to help you get back on your feet.

Information on assistance, grants and recovery services available to small businesses can be found at We have seen lives lost, businesses and communities devastated by these floods and our state will take some time to recover from this tragedy.

The coming weeks and months will be challenging for us all but I know that we come through this stronger and more resilient than ever before.

The Honourable Peter Lawlor MP
Minister for Tourism and Fair Trading
Member for Southport

This article explains the caps that apply to super contributions and the tax payable if you exceed these caps.

http://www.ato.gov.au/distributor.asp?doc=/content/Content/00106372.htm

The November issue of Building Links is the third produced in an easy read format and the final edition for 2010 and is available on BSA’s website homepage or click link http://www.bsa.qld.gov.au/SiteCollectionDocuments/Building%20and%20Constructing%20Links/Building%20Links%20Newsletter%202010/Building%20Links%20November2010.pdf

This issue highlights:

• The latest changes to contracts
• Examines how Compliance helps the industry
• Find out why contractors attend BSA seminars

BSA website -  www.bsa.qld.gov.au

Information to assist individuals and overseas visitors to work out if you need to lodge a tax return, how to lodge it and when you need to lodge by, including what information you need to prepare your tax return and what to do if you need help.

http://www.ato.gov.au/distributor.asp?doc=/content/Content/00257420.htm

If you missed the BSA/CSQ Better Building Supershow (April to June 2010) or the September Trade Seminar here is your opportunity to attend the Introduction to the Building Industry seminar.  If you did attend now is the time to send your staff, subbies or 4^th Year Apprentice to this important seminar.

This free seminar will be held at the Robina Community Centre, 195 Robina Town Centre Drive, Robina on Tuesday 9 November, 2010 commencing at 4.30pm and will run for approximately 1½ hours. 

This seminar would be of particular interest to new licensees (last 18 months) and those wanting to keep up to date with recent changes affecting the industry.  The presentation covers to role of BSA and CSQ, the role of Building Acts and Regulations, the Building Code of Australia and Australian Standards, the building approval process, defective work and dispute resolution.  It also covers the major risks businesses face in their first few years including supervision and Workplace Health and Safety.  Whether you are a builder, designer, trade contractor, supervisor, 4^th year apprentice you need to be aware of these requirements.

To register please complete the Booking form and fax it to 3225 2889 or email bsaseminars@bsa.qld.gov.au

We look forward to seeing you at this seminar.  Further details regarding BSA’s Trade Specific Seminars are available at

http://www.bsa.qld.gov.au/SiteCollectionDocuments/Builders_Contractors/Fact%20Sheets/2010%20Trade%20Seminars%20page%20Dec%2009.pdf

Regards

Sharon Hopkins

Event Coordinator

Building Services Authority

BSA/CSQ INTRO TO BUILDING BOOKING FORM

FAX TO 3225 2889 or email bsaseminars@bsa.qld.gov.au

Venue Attending: ………………………………………………………………………

Individual Name: …………………………………………………………………………….

BSA Licence #: ………………………………………………………………………………

Address (if not a BSA Licensee): ………………………………………………………….

Phone: ……………………………………….  Fax: ……………………………………….

Email: …………………………………………………………………………………………

Register now!

On 1 January 2011, all Australian Governments will introduce a single, national consumer protection and fair trading law.

The Australian Consumer Law will replace key sections of the Commonwealth’s Trade Practices Act 1974 and the fair trading acts of all states and territories, including Queensland’s Fair Trading Act 1989.

The ACL will affect almost every Australian business. To avoid being caught out by the changes, don’t miss the free online information seminar being offered.

As well as an introduction to the law, you’ll get an opportunity to put your questions to an expert panel, including Jacqui Thorpe from the Australian Competition and Consumer Commission and Patrick L’Estrange from Consumer Affairs Victoria.

This event is offered as a free service by fair trading agencies, including the Queensland Office of Fair Trading, frm 12pm (Queensland time) on 26 October 2010.

 To register to watch the webinar, click here.

For more information on the Australian Consumer Law, visit www.consumerlaw.gov.au or www.fairtrading.qld.gov.au/australian-consumer-law.htm.

To help make it as easy as possible for you to comply with your tax and super obligations, the ATO provide a free and tailored assistance service within Australia. Visits are conducted by tax officers at your place of business or preferred location.

For more information or to book online go to  www.ato.gov.au/assistancevisit