HIA MEMBER BENEFITS JACOB SERTORI Northern Branch Manager MEMBERSHIP – NORTH & NORTH WEST According to data recently released driving this it is clear that a tightening ofmonths. This credit squeeze is largely due by the Australian Bureau of lending conditions is having an adverseto the majority of bank’s adopting lending Statistics, Australian new home effect. practices that go beyond the requirements approvals have fallen to a five-yearHIA’s own research is showing that theof APRA. low, falling by 9.1 per cent in Novemberaverage turnaround on a loan for a new With this increase in loan approval times 2018. While there are a number of factorshome has blown out from two weeks to twoit will massively impact the ability to plan and schedule start dates for work and there is a real risk of more loans being rejected. HIA will closely monitor lenders and the impact of the Banking Royal Commission to determine what effect this will have on housing starts. In the meantime Tasmania is still performing well with the northern parts of Tasmania now joining Greater Hobart in registering strong levels of activity. Awards and wages Do you know if you are paying your staff correctly? Fair Work Australia’s award rates of pay are subject to change each financial year. The awards can be difficult to interpret, particularly when it comes to penalty rates and allowances. Thankfully, HIA offers its members a service where you can discuss this issue with leading industry professionals to make sure you are paying fairly and accurately. This could save you a lot of time and money down the track. FAIR WORK AUSTRALIA’S AWARD RATES OF PAY ARE SUBJECT TO CHANGE EACH FINANCIAL YEAR You can also access a lot of the relevant information via the HIA website, including checklists for starting a new employee in the building industry, payroll tax information and general information and guides for employers. As always, if you require any assistance or would like to discuss anything at all, please do not hesitate to contact me on 0419 751 186 or j.sertori@hia.com.au BUILDING NEWS ISSUE 1/2019P17