Daily Bulletin

Business News

  • Written by Media Release


BCCM welcomes focus on empowering small and medium businesses in 2019 Budget

 

Canberra –The Business Council of Co-operatives and Mutuals (BCCM) welcomes the extension of tax cuts on asset purchases announced in the 2019 Budget. Write-offs will now apply on assets up to $30,000, and for businesses with a turnover of up to $50 million. This will help many smaller co-operatives and mutuals improve their bottom line and make important investments.

 

Melina Morrison, BCCM’s CEO, said, “In this era of accountability, we are pleased Government has made provision for change in areas where there is rising demand for services. Our members who work in the aged care, disability care, health and housing sectors will benefit from the measures. Given the economic climate where the Australian and global economy are stuck in a downward trend for growth, we are pleased to see a focus on maintaining a strong economy and that the Budget includes support for small businesses and the agricultural sector. We welcome the investment in business incentives and new programs that will boost apprenticeships and address skill shortages.” 

 

A range of Budget measures to incentivise local land stewardship, enhance business energy efficiency, support local microgrid development and develop regional connectivity will benefit co-operatives and their members across Australia.

 

Ms. Morrison said, “We are pleased to see the focus the Government has placed on communities. Co-operatives and mutuals are, by their very nature, community focused with profits always going back to their members and communities.

 

“Government programs work best when communities are given the chance to help themselves. These measures do that, giving regional communities the chance to form resilient new enterprises and strengthen existing enterprises, including locally-owned co-ops and mutuals.”

 

The BCCM welcomes support for agricultural co-operatives and their members in the form of increased support for exporters and relief for farmers who have been affected by flood and drought.

 

As the co-operative and mutual sector is budget neutral, the BCCM remains focused on regulatory reform for its members and hope that Government will make it a priority this year.  BCCM continues to push for the following legislation:

 

Treasury Laws Amendment (Mutual Reforms) Act 2019, which was tabled in the Senate earlier this year. Reforms include:

  • The improved capability for mutuals to raise capital.  This will allow for more competition in the mutual and banking sector, something that will benefit all Australians. 
  • Adding the legal definition of mutual entities to the Corporations Act.  This will recognise mutuals as a legitimate business model in a highly competitive sector 

 

BCCM also continues to push for the inclusion of co-operatives in the red-tape busting Commonwealth Modernising Business Registers program.  Amendments to a Bill currently in Parliament would allow States and Territories to delegate administrative functions for state-registered co-operatives to the proposed Commonwealth Registrar.

 

The Business Council of Co-operatives and Mutuals (BCCM) is the national peak body representing Australian member owned businesses. Formed in 2013, the BCCM is led by the chief executives of Australia’s co-operative and mutual businesses in all sectors including agriculture, financial services, health insurance, retail, motoring services and human services. The BCCM works to promote the role of member-owned enterprises in the national economy. With over 2000 co-operative and mutual businesses operating nationally representing a total of 29 million memberships, the BCCM highlights the contribution co-operatives and mutuals make to economic and social development in Australia. www.bccm.coop

 

How to get the most out of a Premium Graduate Placement

An internship placement from PGP Australia can be a really rewarding and beneficial experience for anyone looking to get their foot in the door in a certain industry like human resources, accounting...

News Company - avatar News Company

Why having a website is so important for SEO purposes, even if you don’t have a lot of traffic

What most people out there can agree on is the fact that they will feel like they have something burning inside of them that they want to share. It may be to write a book, to create a product, to cr...

News Company - avatar News Company

Career Opportunities and Relocating

Moving for work can be an incredibly exciting opportunity. Yes, the amount of work will likely be larger, but so will the pay as well as the recognition. Despite the common nervousness, it is import...

News Company - avatar News Company

How to protect your business in a divorce

No one ever likes to think of the end of their marriage when things are going well, but when it comes to business you may have to consider it. You have to allow the possibility that it could happen ...

Australian Family Lawyers - avatar Australian Family Lawyers

Business Apps: 6 Services for Testing Startup Ideas

Startups are what help to develop our world, making it much better and more convenient. For example, let's look at the market of online travel services. One of them is car rental. Now, if you are go...

News Company - avatar News Company

The right way of compliance training: LMS

Does your business fall in the category of a small business, medium business or a highly regulated enterprise? Regardless, compliance training is unarguably necessary for everyone. However, many ...

News Company - avatar News Company


The Conversation

Politics

Scott Morrison interview with Alan Jones - 2GB

ALAN JONES: The Prime Minister's on the line from Melbourne, Prime Minister good morning. PRIME MINISTER: Good morning Alan ALAN JONES:  thank you for your time. I wish we had three hours but look...

Alan Jones - avatar Alan Jones

Making suicide prevention a national priority

Providing greater support for all Australians needing mental health and suicide prevention services is a key priority of my Government.   Suicide takes far too many Australians, devastating famili...

Scott Morrison - avatar Scott Morrison

Scott Morrison interview with Leigh Sales

LEIGH SALES: Prime Minister, welcome back, and congratulations on your re-election.   PRIME MINISTER: Well, thank you very much, Leigh. It's very good to be back.   SALES: Why is Labor's offer t...

Leigh Sales - avatar Leigh Sales

Travel

Top 8 Things To See And Do In Australia

Australia - One of the most popular travel destinations in the world, is camping, backpacking, diving, and road trip destination. The country’s immense beauty from Uluru to the Outback, rainforest...

Anna Jay - avatar Anna Jay

8 Tips How to Make Your Travels Memorable

Traveling the world is on every little kid's bucket list, and it usually remains to be there among top three well into the age as well. However, what makes traveling so fun and exciting is the nov...

Diana Smith - avatar Diana Smith

5 Reasons Why You Should Partake In Community Sporting Activities

Partaking in sports isn’t for everyone. Maybe you played a bit of sport as a child at school, but as an adult, you’ve barely picked up a tennis racket or kicked a ball, and that’s OK! However, there...

News Company - avatar News Company

ShowPo