LOCAL STORIES

By Warren Strybosch

The Victorian Certificate of Education (VCE) was established as a pilot project in 1987. The earlier Higher School Certificate (HSC) was abolished in 1992. There was about 5 schools trialling the pilot program in Victoria and I was attending one of those at the time. for the VCE is usually completed over two years but can be spread over a longer period of time in some cases e.g., 3 years.

It could easily be argued that these last two years of VCE would have been one of the toughest two years on record since it started 34 years ago.

Not only did students have to deal with close to 300 days of lockdown, online schooling, the General Achievement Test (GAT) being postponed four times, sitting exams without power and/or having to reschedule exams when one of their class mates become Covid-19 positive, they also have had to deal with their whole family being at home whilst they tried to study, the distractions that surrounded them e.g. Fortnite, parents with reduced work or losing their jobs, increased suicides amongst their peers, and so on.

It is amazing that these young adults, who have managed to complete their VCE’s, have done so at all.

We, at the Find Maroondah, want to wish all VCE’s students all the best for their exams and hope that the next four or five years, whether it is studying at Uni, taking a gap year and then studying, or simply going into the workforce, is better than the two years you have just lived through.

We are thinking of you all as you complete your exams and hope you get the results you are want to get into your desired course. If you do not, I can attest, as someone who has failed VCE and now has 7 qualifications under their belt, including a post grad, that there are many and varied pathways into university. Life does not end when VCE finishes…in fact, it is just the beginning of your journey through adulthood.

The VCE is one credential available to secondary school students who successfully complete year 11 and 12 in the Australian state of Victoria. ... Study

COVID UPDATES INFORMATION

See Page 72 for Victoria's Roadmap Delivering National Plan More COVID information on Page 61

HELPING TO PROTECT YOU AND YOUR FAMILY

At Find we can help you find the ‘right’ personal insurance. Our aim is to help you obtain and retain the personal insurances that are appropriate for you and at cost that you can afford.

Personal Insurances Include:

• Income Protection (IP) • Life Insurances or Death Cover • Total and Permanent Disability (TPD) • Trauma Insurance or Critical Illness Insurance • Business Expense Cover • Child Trauma Cover

When your insurance are in place, our services do not stop there. We will provide you with an after care service that includes policy notifications, insurance report, help desk, reviews and help at claim time.

We provide ourselves in providing honest advice that you can rely on.

warren@findinsurance.com.au 248 Wonga Road, Warranwood VIC 3134

INSURANCE

What Business Must Do To Comply As We Reopen

By Warren Strybosch

To support business owners to reopen, the Business Stakeholder Pack has been developed by the Department of Jobs, Precincts and Regions. This stakeholder pack incorporates customisable content and downloadable artwork including:

• posters • support guides • social media content • suggested website and newsletter content • booking confirmation email and

SMS text for businesses.

See Page 94 for the Stakeholder Pack

Social media crackdown to protect children

By Matt Coughlan (Australian Associated Press)

Children aged under 16 would need their parents’ consent to use social media platforms under a proposed online crackdown.

Attorney-General Michaelia Cash on Monday released an exposure draft of new legislation to create a binding privacy code for social media services, data brokers and other large online operators.

All platforms would be forced to receive parental consent for users under the age of 16. Social media companies would be required to take all reasonable steps to verify users’ age and put children’s best interests first when handling personal information.

There would be tougher penalties and more enforcement powers handed to the privacy regulator. Online platforms subject to the code would need to comply with strict new privacy requirements, including new rules about children and other vulnerable groups. The code will be developed with the Australian Information Commissioner and industry. Organisations would face tougher requirements to be transparent about how personal information is handled.

Senator Cash said the bill would ensure Australians’ privacy would be treated more carefully and transparently by online platforms.

“We know that Australians are wary about what personal information they give over to large tech companies,” she said.

“Our draft legislation means that these companies will be punished heavily if they don’t meet that standard.”

A 2018 Headspace survey of more than 4000 people aged 12 to 25 found social media was the main reason youth mental health was worsening. Assistant Mental Health Minister David Coleman said there was a consistent increase in signs of distress and mental ill-health among young people even before the coronavirus pandemic.

“While the reasons for this are varied and complex, we know that social media is part of the problem,” he said.

“The recent leak of Facebook’s own internal research demonstrates the impact social media platforms can have on body image and the mental health of young people.”

Senator Cash’s department also released a discussion paper on broader reforms to privacy laws.

All Company Director’s Now Can Register For Their Director IDs Online

By Warren Strybosch

All Australian company directors including SMSF directors can now register for the new director ID.

This unique 15-digit identifier only takes about 15 minutes to apply online for most people but for those overseas a paper-based system may need to be used. For those currently living overseas, it is recommended they start this process as soon as possible as there might be issues with matching current director names to their actual birth names. The director IDs will stay with a person for life and aims to provide greater security and a level playing field for all those running a business.

Superannuation and Financial Services Minister Jane Hume said it would cut red tape and make things fairer for all.

“Directors will keep the same director ID as they move between different roles, businesses and even countries,” Ms Hume said.

“Acting as a unique identifier for every director, director ID not only paves the way for streamlined experiences in the future but offers directors greater confidence that they are protected from fraud and illegal activity today.” With over 2.7 million company directors can now apply for their new director identification numbers (director ID) using the Australian Business Registry Services (ABRS) website.

To apply, directors can simply log into ABRS online using the myGovID app. It is free to apply and available to directors within Australia and overseas. Applications are available by phone and by paper for those who need it.

Any individual who is a director or acting as an alternate director must register. This includes directors of an SMSF or a limited recourse borrowing (LRBA) corporate trustee.

Due to the huge number of applications that will need processing, there are transitional arrangements in place for directors to assist with the onboarding process.

Key dates to be aware of From 1 November 2021 to the end of 4 April 2022 there is a transitional period where all new directors have 28 days to apply for a DIN after being appointed as a director. required to apply for a DIN prior to being appointed as a director.

For all existing directors appointed prior to 31 October 2021, they will have a deadline of 30 November 2022 to apply for a DIN.

SMSF Directors are encouraged to get their DIN as soon as possible.

For directors of corporate trustees related to a SMSF, only they can apply for their own DIN. The accountant, tax agent or bookkeeper will not be able to apply on their behalf. As such, all SMSF Directors of SMSF are encouraged to also start the process as soon as possible. For those setting up a new SMSF or a limited recourse borrowing arrangement, they must get the DIN with in 28 days of face ASIC action, including penalties for non- compliance.

If a SMSF director fails to obtain their DIN, the SMSF could become noncompliance and face huge tax liabilities. Also, it might result in the SMSF Director, who is also a member, having to exit the SMSF given they have demonstrated they do not have the ability to manage their own SMSF.

Rosy Outlook Comes With Inflation Warning

Colin Brinsden, AAP Economics and Business Correspondent (Australian Associated Press)

Economists at Australia’s largest retail bank are predicting a robust economic outlook, but have also warned of a build-up in inflation pressures leading to the Reserve Bank lifting the cash rate before the end of 2022.

Commonwealth Bank of Australia’s household spending intentions index rose by a strong 6.6 per cent in October, to be 4.4 per cent higher than a year earlier, as people were freed from COVID-19 restrictions.

Intended spending on travel soared by 52.7 per cent in the month.

“I think the reopening is going to see an increase in spending that is sustained well into 2022,” CBA chief economist Stephen Halmarick told a webinar launching a revamp of the bank’s spending intentions index.

“We do think we will get a build-up of some inflationary pressures next year … moving up faster and more broadly than the Reserve Bank (believes).”

CBA expects underlying inflation will be around 2.5 per cent by the middle of next year – the mid-point of the RBA’s two to three per cent target.

The central bank does not expect this to be reached until the end of 2023.

“November next year we have got the first rate hike,” Mr Halmarick predicted. The revamped index has expanded to 12 categories covering almost all consumer spending and is backed by the bank’s transaction and loan application data covering 2.5 million households. It also uses publicly available Google Trends search activity.

The report’s release coincided with the weekly ANZ-Roy Morgan consumer confidence index – another pointer to future household spending – which rose 0.6 per cent, the eighth gain in nine weeks.

“Since its recent low in early August, consumer confidence is up a touch over 10 per cent and is getting close to its long-run average,” ANZ head of Australian economics David Plank said.

These outcomes support Deloitte’s annual retailers Christmas survey, which found 80 per cent of retailers are expecting to see sales grow this holiday period, 20 percentage points higher than in 2020.

“As the vaccine-led reopening and recovery takes hold and retailers welcome cashed-up customers back to their stores, they finally feel they have something to be optimistic about,” Deloitte’s David White said.

However, retailers still face some challenges, with more than half concerned about receiving sufficient stock for Christmas and nearly threequarters worried that rising shipping costs will pressure their margins. “Global supply chains have come under pressure as the world’s consumers emerge from the pandemic, and Australia is not immune from the fallout,” Mr White said.

National Australia Bank’s business confidence index, also released on Tuesday, jumped 11 points to an index of 21 points.

“Confidence began to rebound last month as reopening plans were announced, and that continued in October as businesses saw those plans begin to become a reality,” NAB chief economist Alan Oster said.

NAB’s business conditions index also rose six points in October to 11 index points, rising back above its long-run average and with all its components rebounding.

“Conditions have held up fairly well through the lockdown period, but the resilience of businesses was beginning to wear thin in September,” Mr Oster said.

“So it is pleasing to see a quick rebound in NSW with restrictions mostly lifted.”

He said there is still scope for things to improve in coming months, particularly in Victoria, but overall it was an encouraging result.

A large improvement in forward orders provided further evidence of a strong rebound in economic activity.

Your sneak peek at our 2022 Season One program.

2022 will see Melbourne Recital Centre celebrate the best in local and international music. From January to March we present Season One: Awaken, a program that takes inspiration from warm summer nights and the Australian landscape, highlighting exploratory and visionary artists and musicians. Featuring new faces and familiar friends, join us for an unmissable season of live music in 2022.

From our Partner: The Langham Melbourne

Enjoy a luxurious night away from home in the heart of Melbourne.

The Langham Melbourne invites you to save 10% on overnight accommodation for two adults including Melba breakfast, bubbles on arrival, valet parking and a complimentary in-room movie. Find out more and book your night away below.

1 Jan - 30 Dec, 2022. Subject to availability.

BOOK NOW

Bush Gothic & Partridge String Quartet

Traditional Australian songs transformed into dreamy chamber works of rebellious beauty.

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Coco's Lunch

BOOK NOW Accademia Arcadia

BOOK NOW Duo Eclettico

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Treasured vocal ensemble Coco’s Lunch performs songs from its latest release, Misra Chappu, in a masterful and exuberant feast of sound, rhythm, texture and storytelling.

Fri 12 Nov 6pm

Accademia Arcadia play beautiful works by Bach and Couperin on two of Australia’s finest harpsichords. Also streaming via Melbourne Digital Concert Hall.

Mon 15 Nov 6pm

Two premiere performances highlight Duo Eclettico's ambitious artistry. Ranging from the all-new to the transformed, the Baroque to the present, rich surprises await.

Wed 17 Nov 6pm

The Glasshouse

BOOK NOW All'Italia

BOOK NOW Alone with Bees

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Pianist Nat Bartsch unites with Inventi Ensemble to present her Meryln Myer Commission, exploring themes of femininity, fragility, the natural world and white privilege.

Tue 23 Nov 6pm

From Scarlatti to Busoni, pianist Stephen McIntyre AM revels in all things Italian. Radiating brilliance and passion, these pieces are among the most beautiful in the repertoire.

Tue 23 Nov 7pm

Themed around secrets, heartache, dreams and the buzz of the unknown, jazz musician Connie Lansberg’s latest compositions are intimate and uplifting.

Fri 26 Nov 8pm

Ian Munro

Pianist Ian Munro explores inspired repertoire from two Romantic masters and a new work of his own.

Nir Tsfaty & Invictus Quartet

From intimate, chamber moments to symphonic, emotional peaks, Nir's entrancing songs float over you like a daydream.