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The recent Federal Budget announcement was a robust response to the impact of the global pandemic. The significant fiscal spending plans will support individuals and businesses by way of tax cuts, hiring incentives and COVID-19 related support payments. What does this mean for contractors?
The lead up to the end of tax year is always a great time to reflect on your goals, tie up loose ends and take steps to improve your financial strategies as a contractor. In these unprecedented times when many people are experiencing changes to work and income, it’s even more important to make smart decisions to boost your super, reduce tax, maximise government entitlements and build wealth.
The Australian Government has released a list of priority skills that will be granted travel exemptions into Australia. A new priority skills list and strengthened labour market testing will allow sponsored skilled workers to travel to Australia to provide urgent skill needs in critical sectors, helping to create jobs and rebuild Australia’s economy.
In the span of a few weeks COVID-19 has upended how people in Australia and around the world work and live. You may now be working from home, have reduced income, be dealing with redundancy – one way or another, most of us will be adjusting to new financial realities. For those who still have plenty of work and a high income, the reduced spending that comes with iso life is an opportunity to put money towards your long-term goals.
Daily life has been turned upside down for all of us due to the COVID-19 pandemic and new ways of living, working and connecting have quickly become the norm. Whatever big changes you are adapting to personally, from new working arrangements, to reduced income, unexpected job loss, or the cancellation of long-awaited travel or events; chances are your budget has been upended too. Even though things are changing rapidly, it’s important to take some time to review your cash flow and revise your budget in line with new realities.
‘Talent crunch’, ‘brain drain’, ‘war on talent’ – there are many terms being used to describe how technological shifts in the workforce are creating unprecedented demand for new skills. Finding the right talent for existing and especially emerging jobs is a huge priority for Australian organisations and agencies in the current climate of industry 4.0. With demand outstripping supply – particularly for digital skills – organisations need to consider recruitment beyond domestic borders to mobilise the talent they need to prosper both now and into the future.
The demand for workers in the mining sector is at its highest level since the previous boom-time peak in 2013. Australian Resources and Energy Group, AMMA, have projected that 21,000 new workers are required by 2024 due to 57 new projects in the pipeline worth $41 billion. With local talent shortages already apparent and as new projects come to fruition, skilled migration is essential to securing the volume and calibre of talent that businesses need. Take a look at how organisations can harness migration to bridge skill shortages and maintain their competitiveness.
Calls for Labour Hire Licensing arose to stop the exploitation and mistreatment of workers, support legitimate labour hire operators and protect users of labour hire organisations. Pressure has come from Labor government-led states for the Federal Government to introduce a national scheme; however it has maintained the stance that Labour Hire Licensing is a matter for individual states to determine.
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