logo
West Australia could get an extra public holiday as state looks at syncing its system with the East Coast

West Australia could get an extra public holiday as state looks at syncing its system with the East Coast

News.com.au09-06-2025
West Australians could be treated to an additional public holiday next year as the state looks at aligning its system with the east coast.
WA currently has the lowest number of public holidays in the nation, and usually has a day off one week earlier than its eastern state counterparts.
The state celebrates WA Day on the fist Monday in June, then celebrates the Kings Birthday on the fourth weekend in September. Most other states and territories celebrate the Kings Birthday on the second weekend in June.
Premier Roger Cook said his department was looking at realigning West Australian public holidays with the east coast so they were better synched.
'It is ridiculous you have a situation where Western Australia closes its doors or shuts the shop when the east coast is open for business,' he said.
'Today of course, you'll have frustrated members of the Western Australian business community that can't access their colleagues on the east coast.
'I'm reviewing the whole range of public holidays we have in Western Australia and where they land to make sure that we've got better alignment and that they work better for the WA community
'We are part of a national economy, and we should be working together much better to ensure better alignment around these days. '
CCIWA chief economist Aaron Morey said it was a good call from the premier but he did not support an additional public holiday.
'I think it's a good call from the Premier and lining up holidays definitely has public merit, how many birthdays does the king need?' he said.
'We're going to see some distraction today, the Melbourne Collingwood game on, I think people would rather be at home watching that.'
But Mr Morey said he did not support having an additional public holiday in WA, which were huge headache for small businesses doing it tough.
'Someone might see a public holiday as a benefit, but for a small business, they just see another day when they have to pay $65 an hour for someone to wash dishes,' he said.
'It's really difficult for small business to navigate and to plan around public holidays, and so certainly not supportive of that concept.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

AFCA complaints handling hurry leaves thousands exposed
AFCA complaints handling hurry leaves thousands exposed

The Australian

time29 minutes ago

  • The Australian

AFCA complaints handling hurry leaves thousands exposed

Thousands of decisions by the Australian Financial Complaints Authority could be called into question because it has resorted to checking its own homework to process a backlog of claims. AFCA insiders are concerned that the organisation is drifting from its promise to apply a high standard of scrutiny to complaints. Instead, it has resorted to allegedly misrepresenting that a fresh set of eyes had ruled on matters when they had not, sources told The Australian. Where an AFCA ombudsman would rule on complaints at the final stage, these were routinely overseen by more junior case managers. The involvement of the ombudsman was allegedly limited to signing off on their recommendations. This is despite AFCA's assurance that decisions would be subject to review where either party to a complaint disagreed with the preliminary ruling. AFCA, assembled in the wake of the Royal Commission into Misconduct in the Banking, Superannuation, and Financial Services Industry, is designed to keep disputes from clogging up the court system and free-up regulators to pursue more egregious misconduct. In its first six months, AFCA received 34,263 complaints. Between July 1, 2023 and June 30, 2024, the latest period for which data is available, it was handed 98,622 matters. Of these, 41,583 were related to bank behaviour. AFCA insiders told The Australian it has resorted to 'quick and dirty' decision making in a bid to shift its backlog of claims, warning it put the outcomes of thousands of matters at risk. It's process boils down to a two-tiered arrangement. Matters are initially allocated to a case manager, who attempts to resolve the complaint by mutual agreement. If this fails, the complaint progresses to a second stage where a case manager assesses the merits of the case. The matter proceeds to an ombudsman if a party refuses to accept the case manager's finding. But poor resourcing meant ombudsman matters were often being sent back to the initial staffers, leaving the ombudsman to sign-off on their thinking. This may be as little as a 'quick glance'. 'There were often times where instructions were given to not send out decisions by ombudsman because it looked like it was too quick,' a former AFCA staffer, who spoke on the condition of anonymity, recalled. AFCA was pinged for weak processes in the 2022 NSW Supreme Court Notesco case, which saw a third party broker sue the body alleging it had acted without impartiality when awarding a decision to Jean Pasquier, a retired 83-year old living in France who lost €306,900 ($545,724) after making thousands of trades on Nextrade. AFCA staffer May Chng had sought the view of her manager, who in turn consulted ombudsman Nicolas Crowhurst, before issuing a decision in Mr Pasquier's favour. When Notesco contested the decision, it was sent to Mr Crowhurst to rule on, again in Mr Pasquier's favour. Following this, AFCA engaged former Federal Court judge Julie Dodds-Streeton and barrister Ahmed Terzic to review 30 decisions. AFCA deputy chief ombudsman Dr June Smith said the dispute's body had reviewed the Notesco decision. 'Steps were then taken to ensure that a final decision maker is not involved in the early investigation stage of a complaint they will determine,' she said. Dr Smith said AFCA had commissioned regular independent audits and its next review is slated for 2026 or 2027. 'These reviews have all found that AFCA is engaging in procedural and substantive fairness, and is meeting its obligations of independence and impartiality,' she said. 'These consistent results should give consumers and industry full confidence that AFCA interprets and applies its fairness jurisdiction appropriately and in accordance with its remit.' Resolving cases at AFCA has proven costly as it hires more staff in a bid to catch up to a spiralling case load. Parties before AFCA are slugged for each case, starting at $105.81 for a matter to be registered and up to $10,234 for a final decision. As revealed in The Australian, AFCA has been warning many complainants it would take up to six months to assign them case managers. AFCA chief executive and lead ombudsman David Locke told The Australian in February he was 'mortified' over the delays. AFCA has also been hampered by financial institutions poaching from its ranks, with ANZ recruiting its former banking lead Evelyn Hall as 'customer fairness advisor' in March 2022. David Ross is a Sydney-based journalist at The Australian. He previously worked at the European Parliament and as a freelance journalist, writing for many publications including Myanmar Business Today where he was an Australian correspondent. He has a Masters in Journalism from The University of Melbourne. Markets With the ASX trading near record highs despite subdued earnings forecasts, this reporting season will show whether investors are paying too much for a recovery that may not materialise. DataRoom Executives from Canada's largest mining company have been spotted at Bellevue Gold's flagship Western Australian project, fuelling takeover bid speculation.

Hike taxes on the oligopolies extracting 'rent' from Australia's economy
Hike taxes on the oligopolies extracting 'rent' from Australia's economy

ABC News

time43 minutes ago

  • ABC News

Hike taxes on the oligopolies extracting 'rent' from Australia's economy

Australia's economy is dominated by powerful firms that are extracting above-normal profits from the system, and their power is growing. They're extracting "economic rent" from our economy, which means they're charging higher prices and collecting higher profits from a lack of competition. The Productivity Commission (PC) says if we want to reform our tax system we need to focus on that issue, because it will solve a whole host of problems. Which industries are extracting economic rent from our society? It won't surprise you: the gas, oil, coal, and iron ore industries, the banking and financial services industry, the wholesale and retail industries, and telecommunication networks, among others. Last week, the PC published its interim recommendations to the Albanese government for how to reform Australia's corporate tax system. But at the heart of its recommendations was something fascinating. It showed the PC has picked up the cause of economists like Ross Garnaut and others who have been calling for our tax system to be reconfigured to tax economic rents much more heavily. Professor Garnaut spoke about these ideas in his Bannerman Lecture in May 2023 and his Henry George Commemorative Dinner address in September 2023. And the PC has explicitly drawn from two of Garnaut's recent journal articles to inform its recommendations. The first article is The Economic Public Interest in a World of Oligopoly (2023). Here's the summary of its argument: "The Australian economy has performed well compared with comparable countries over the last three decades only if we average the excellent performance in the 1990s and the poor performance over the past decade," Garnaut wrote. "Real wages over the past decade have stagnated — to an extent without historical parallel. "We cannot understand the economy's underperformance without recognising the increasing claims of economic rents on national income. "Correction of weaknesses requires coordination of many policy instruments including measures to reduce the prevalence of rents (competition policy and regulation of oligopoly where competition is not feasible or inefficient) and changes in taxation arrangements to shift the burden of business taxation from firms in competitive activities to firms relying heavily on economic rents." The second article is Replacing Corporate Income Tax with a Cash Flow Tax (2020), which Garnaut co-authored with Craig Emerson, Reuben Finighan, and Stephen Anthony. In that article, Garnaut and his colleagues said Australia's corporate tax system was built for the wrong century and we needed a new system to account for 21st-century realities. What were those new realities? They said greater mobility of capital had given rise to an international "race to the bottom" in company tax rates to attract and retain investment, while multinationals have far more opportunities to avoid and evade taxes through transactions across international borders. They warned that the phenomenon had contributed to the public's growing resentment of "globalisation" and a distrust of market exchange. They said the competitive position of national companies had declined compared to multinational corporations, due to their more limited opportunities for tax avoidance and evasion. They said the proportion of Australia's corporate income deriving from "economic rent" had grown, while the competitive returns on capital had declined. And our national tax compliance culture had deteriorated. "This paper suggests a major change in approach to taxing corporate income," they wrote. "It proposes changing the corporate tax base, from a conventional view of income to cash flow. "This increases the incidence of the tax on economic rent, and reduces the incidence on competitive or 'normal' returns on investment. "Our proposed cash flow tax is relatively simple to administer, applying familiar and well‐tested measurements of the taxation base." They also warned that a large and growing presence of economic rent in an economy tends to increase income and wealth inequality, owing to the narrow ownership of the scarce assets that attract rent. The PC agrees that our company tax system is inefficient. It asked the economist Chris Murphy to investigate the prevalence of economic rents in Australia's economy, and how a net cashflow tax could work, and it has relied on Murphy's modelling to make its recommendations to the government. Mr Murphy says his modelling accounts for three main types of rents: oligopoly rents, mineral rents, and land rents. Collectively, he says economic rents account for 54 per cent of corporate tax revenue in Australia, which is up from 41 per cent in 2016-17. The PC is very aware of what that indicates. It says business investment has fallen significantly in Australia over the past decade, and the lack of investment has contributed to Australia's "lacklustre productivity performance." Meanwhile, economic rents have become a more important part of Australia's company tax revenue by default. Therefore, it says we need to consciously shift to a new tax system that specifically targets economic rents, better encourages investment, and reinvigorates competition in moribund areas of the economy that are dominated by a few large firms. Murphy says his model of Australia's economy has 278 industries. He says 29 of those industries have oligopoly rents, but in practice, 85 per cent of oligopoly rents are received by just five industries: bank interest margins, wholesale margins, retail margins, bank fees, and telecommunications networks. He says mineral resource rents are present in five industries: coal mining, crude oil, liquefied natural gas (LNG), other gas extraction, and iron ore mining. He doesn't provide many details about land rents. In his modelling, Murphy discusses how taxing normal returns to capital has a "double disincentive" effect of discouraging both investment and labour supply, but location-specific economic rents are immobile, so taxing them does not diminish their local supply at all. He says his estimate that economic rents account for 54 per cent of corporate tax revenue in Australia highlights the challenges in designing corporate tax policy. "About one-half of revenue is collected from normal returns to capital, doing considerable economic harm through the double disincentive effect," he writes. "The other half is collected from economic rents, which in principle does no economic harm." So, the PC has made the following proposal to the Albanese government, ahead of this month's reform roundtable. It says Australia needs a new corporate tax system. It says we should cut our headline company income tax rate to 20 per cent (from 30 per cent or 25 per cent) for companies with revenue below $1 billion (which is the vast majority of Australian companies), but we should keep the 30 per cent tax rate for Australia's largest companies, with turnover above $1 billion, in the short-term. It says we should also introduce a new "net cashflow tax" of 5 per cent to be applied to company profits. It says the new tax will reward companies for capital expenditure by reducing their taxable income by the value of their investments. It says such a system would encourage business investment much more than our current system, and thereby help to produce a more dynamic and resilient economy in the long run. It says the net cashflow tax will likely increase the tax burden for companies with turnover above $1 billion. Murphy's modelling suggests the reforms will increase investment by $7.4 billion (1.6 per cent), GDP by $14.6 billion (0.5 per cent) and labour productivity by 0.4 per cent over the medium term. It says the initial reforms will be revenue-neutral, so they won't weaken the government's budget position. The PC says that if we tax economic rents more heavily, we can cut taxes on millions of smaller companies in Australia that are operating in more competitive environments, which will allow them to grow and challenge the big incumbents. "In many sectors, a small number of big firms exercise market power to the detriment of consumers, while ever more complicated regulatory and tax systems impose higher costs that keep new entrants from joining in or scaling up," it says. "With fewer firms entering and exiting, the economy is not getting a productivity bounce from new firms challenging incumbents. "Few grow into medium and large-sized businesses. Lower rates of business investment mean less capital per person and lower productivity growth. "The corporate tax system is not delivering the best outcomes."

Live: Julian Assange spotted as pro-Palestianian protesters march across Harbour Bridge
Live: Julian Assange spotted as pro-Palestianian protesters march across Harbour Bridge

SBS Australia

timean hour ago

  • SBS Australia

Live: Julian Assange spotted as pro-Palestianian protesters march across Harbour Bridge

21m ago 2:52pm Due to heightened concerns for public safety, NSW police have decided that protesters can walk back across the Sydney Harbour Bridge once the march reaches the northern end. "Protesters now have the option of walking to the end of the Sydney Harbour Bridge, then turning around and walking back to the Sydney CBD, which will be facilitated by specialist tactical police,' Operation Commander Adam Johnson said. "People who travelled from Sydney's northern suburbs can leave the group, and North Sydney Train Station will remain open and operating as originally intended, but due to the risk of a potential crowd crush scenario at the train station, we will now provide the third option of allowing protesters to walk back across the Bridge and disperse in the CBD. "This means the Bridge will remain closed for a longer period than originally planned, until the operation concludes." The Sydney Harbour Bridge was expected to be closed until 4pm AEST, Sunday. — Niv Sadrolodabaee 22m ago 2:51pm Opposition leader Sussan Ley has questioned the shutting down of a "critical arterial route" in Sydney, citing "all of the ongoing ramifications for people travelling". "We all want to see Gazans fed, we all want to see the Israeli hostages released, and we all want to see the war end. That conflict is overseas, what's happening here is incredibly disruptive to Sydney," she told SBS News earlier today. "Australians do have a right to protest and they have a right to free speech, and I support that," she said, but added that this particular protest would have a disproportionate impact and was "clearly not wanted" by most Sydney residents. Formerly a pro-Palestinian MP in parliament before shifting her position, Ley said the protest was "going to cause absolute chaos" and significant "diversion of our law enforcement and emergency personnel". — Zacharias Szumer 50m ago 2:23pm WikiLeaks founder Julian Assange — who has rarely been seen in public since his release from a UK prison in June — has been spotted at the rally in Sydney. Alongside him was former Labor minister Bob Carr, who has been a regular critic of his party's stance towards Israel and Gaza. — Zacharias Szumer 59m ago 2:15pm Pro-Palestinian protesters have begun to assemble in the Sydney's CBD ahead of a march across the Harbour Bridge. One protester SBS News spoke to said: "People around the world have got to stand up and really, truthfully, say what is happening there, and I think people are doing that now." "If you really want to make a humanitarian stance on what is happening in Gaza, you really have to be stronger," he added. — Zacharias Szumer 59m ago 2:14pm Protesters have also assembled in Melbourne, at the State Library, from where they will march down Swanston Street, before turning right at Flinders Street and marching to the King Street bridge. Earlier on Sunday, Victorian Premier Jacinta Allan warned protesters that there would be consequences for anyone who caused unnecessary disruption to the Melbourne CBD. "Anyone who breaks the law, anyone who compromises community safety will be dealt with swiftly by Victoria Police," she said at a press conference. — Zacharias Szumer 1h ago 2:08pm The Sydney Harbour Bridge will be closed in both directions to road traffic from around 11:30am to around 4:00pm today, but the closure may extend beyond that, Transport for NSW (TfNSW) said last night. Motorists and passengers should delay non-essential travel in the Sydney CBD and North Sydney during the event, TfNSW warned, adding that travellers should allow plenty of additional journey time to get around Sydney as the closure would have a flow-on effect across the road and public transport network throughout the day. — Zacharias Szumer 1h ago 2:03pm

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store