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Last Updated:
Dec 27, 2011 - 1:06:09 PM
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Co-ops & Government
Submissions on Financial Reporting for small co-operatives
Dec 27, 2011 - 12:59:40 PM
On behalf of all States and Territories, on 8 November 2011 NSW Fair Trading invited submissions on reporting requirements for small co-operatives. Submissions closed on the 7 December 2011. Seven submissions were received from - NSW Department of Education and training, the Co-operative Federation of Victoria Ltd, the Australian Accounting Standards Board, Co-operatives WA, Mark Snell and the Sydney Live Steam Locomotive Society Co-operative Ltd.
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Co-op Activities
Federal Labor and Mutuals
Dec 9, 2011 - 6:53:47 AM
When the Reserve Bank raises or cuts rates and how the Big Four banks respond - ANZ, Commonwealth, NAB and Westpac - becomes a matter of controversy about the irrelevance of Federal Labor Treasurer Wayne Swan. What is real, however, is that Federal Labor has encouraged the strengthening of the mutual alternative with three mutuals now allowed to call themselves banks and the Federal Government deposit guarantee applying equally to the Big Four and mutuals. Statistics from APRA show that for the year ended 30 September the assets of credit unions, building societies and mutual banks grew by 8.7% compared with 7.9% for the major banks.
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Co-ops & Government
CBH Taxation Win
Feb 4, 2011 - 11:03:18 AM
Co-operative Bulk Handling Ltd in Western Australis has won a Full Court of the Federal Court case between itself and the Commissioner of Taxation. The case concerned whether the co-operative was established for the purpose of promoting the development of Australian agricultural resource and meets the special condition under item 8.2 of section 50-40 of the Income Tax Assessment Act 1997.
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Co-ops & Government
Australian Government and the Mutuals
Nov 21, 2010 - 12:23:33 PM
The Australian Treasurer, Wayne Swan, has suggested Australians should consider credit unions and building societies for home loans - instead of the big four banks. Speaking on the Channel Nine Weekend Today program on 21 November 2010 , the Treasurer said that he was keen to help the mutual sector to compete against the Commonwealth Bank, the ANZ, Westpac and NAB. he said the Government was determined to see a new pillar of the banking system - particularly based on credit unions and building societies. For more on the mutuals visit Abacus Australian Mutuals. For the arguments as to whu credit unions and building socities come back to you.
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Co-op Activities :
VIC
Terang Co-op, the Retailers and After-School Jobs
Oct 8, 2010 - 2:22:13 PM
The Terang and District Co-operative in Victoria has lost an appeal to Fair Work Australia. The National Retailers Association and Master Grocers Association had appealed against a Fair Work Australia decision to maintain a national three-hour minimum shift requirement in retail stores. As a result of the minimum, the Terang and Sistrict Co-operative ceased employing six teenagers. In rejecting the appeal, Fair Work Australia said: "we do not think this is an appropriate case in which to grant permission to appeal." fair Work Australia, however, said there was no barrier to retailers applying to vary the award to deal specifically with the engagement of student casuals. The National Retail Association called on the government to change the law.
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Co-ops & Government
An ABC Co-operatised?
Sep 11, 2010 - 4:54:34 PM
Should the Australian Broadcasting Commission be transformed into a co-operative? In the Uk Labour leadership candidate David Miliband has argued that the British Broadcasting Corporation (BBC) should become a co-operative. The call has been welcomed by Ed Mayo, Secretary General of Co-operatives UK, who believes that the BBC would be improved if it were answerable to its members - rather than being bullied by government.
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