Group executive news

Group executive news



Perhaps the single best option for tackling these issues is to provide an unlimited work bonus which would allow pensioners to earn as much as they want from work and just pay income tax like everyone else. This is not to suggest a universal pension — eligibility would still be subject to an assets test and other income tests — but to give pensioners greater freedom to work if they choose to. It will give greater freedom and prosperity to pensioners who choose to work, it will increase revenue from the tax on additional income earned, and it will provide immediate relief to businesses across Australia struggling with worker shortages.

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Australia has half a million jobs up for grabs but is finding it near impossible to fill most of them. The Prime Minister’s $5.4b plan to make child care cheaper for families also forms a central part of his strategy to address the skills shortage. But Mr Albanese is also facing calls to encourage pensioners to return to the workforce. New Liberal leader Peter Dutton has pressed the Albanese Government to allow pensioners to earn more money without seeing their pensions being cut back — borrowing an idea championed by WA mining magnate Gina Rinehart and rejected by the Coalition. Currently pensioners can earn $300 a fortnight before their pension payments are reduced, but Mr Dutton wants the income threshold to be increased to $600.

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Estimates from Deloitte Access Economics have a 5 per cent rise in the number of over-55 s in the workforce as boosting national gross domestic product by $48 billion. The idea has long been championed by WA mining billionaire Gina Rinehart, pictured right. Mr Dutton confirmed conversations with Mrs Rinehart had helped inform his stance. Mrs Rinehart said she applauded Mr Dutton “for the leadership he has shown on this issue”. “I would encourage the Government to not only consider the benefits to the department of eliminating pensioners’ paperwork but the revenue generated from additional income tax … and businesses then able to generate more taxable profits,” she said. Mrs Rinehart wants the Government to go further than Mr Dutton’s policy however, by eliminating any upward limit to what pensioners can earn, “and just let them contribute like other Australians by paying income tax” .

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DUTTON IN PENSIONER WORK PLAN | Leader’s Gina-Inspired Policy


Peter Dutton is in Perth for the second time in less than a fortnight , this time to spruik his calls for the Albanese Government to let pensioners earn more money without their pensions being cut back. WA mining magnate Gina Rinehart championed a similar policy before the Federal election as a way to help solve Australia’s worker shortage, but the idea was never adopted by former prime minister Scott Morrison.

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Australian mining is critical to nation’s future


The mining industry is the backbone of the Australian economy paying the highest average wages and contributing billions in taxes and royalties each year. The industry continues to pay the highest on average wages, the most company tax, delivers the most export revenue and was critical to supporting regions and communities, including providing 1.1 million jobs in the mining, mining equipment, technology and services sector.

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Sky News | Chris Smith interviews Mrs Gina Rinehart AO


Hancock Prospecting Executive Chairwoman Gina Rinehart says she does not think either major party leader is “sufficiently across” what she sees as Australia’s “two most important issues”. Ms Rinehart told Sky News host Chris Smith that one of these issues is defence. “I repeatedly say, if we don’t have our country, what do we have? “And the second one is the economy, the economy is so important, it’s what drives living standards, it’s what drives jobs, it’s what drives revenue, it’s what drives opportunities.

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Absentee overload


An explosion of COVID-19 cases in WA is intensifying staffing woes, directly impacting businesses which continue to bear the brunt of skills shortages. As cases soared to a record high of 17,000 on Wednesday — well above the original peak prediction of 10,000 — businesses were left grappling with a surge in virus-related absenteeism. Some are optimistic conditions will improve from here as the case load comes down. However, others are anticipating further disruptions as potential new strains emerge. WA’s resources sector has also acutely felt the impacts of absenteeism.

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The 10,000 missing miners


High commodity prices are masking deep-seated problems in the world’s big mining companies were a combination of cost inflation, supply-chain tightness, and shortages of everything is starting to bite. Reports covering March quarter production, scheduled to start flowing this week, might throw fresh light on the size of the challenge confronting BHP, Rio Tinto and other leading miners which are currently enjoying strong investor support because of near-record prices for most of their output.

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