<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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New residential buildings will have 12 months to make the required changes to smoke alarms.
The new Building Code of Australia (2014) will require all new smoke alarms to be interconnected when there is more than one alarm in a residential dwelling. When interconnected, if one fire alarm is triggered, the others in a home should also be activated.
Western Australia’s Building Commissioner Peter Gow has confirmed that the 12 month transition period will see the requirements coming into effect on 30 April 2015.
“Some building and electrical industry stakeholders were concerned about their ability to comply with the new requirements, so we have applied the one-year transition period that was built into our new Building Act to give the industry time to adjust their operations,” said Gow.
If dwellings are approved for construction before 1 May 2015, they will not be required to include interconnected smoke alarms. However, old dwellings will still need to have smoke alarms or heat detection alarms no older than 10 years old installed before they can be sold, transferred, hired or rented. 
</body></html>

jrichardson-uRX5hFdKfN

Investor alert: Changes to smoke alarm requirements for new residential buildings

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The Abbott government’s National Commission of Audit has recommended the abandonment of Australia’s post-war fiscal structure in favour of a decentralised state-based model of taxation and service delivery that would significantly reduce the Commonwealth’s role in national life. It also recommends targeting pensions, disability insurance, carers, higher education students, foreign aid and the homeless in order to deliver a more sustainable long-term budget.
Across 66 recommendations aimed at reducing government spending by $60 billion to $70 billion per year by 2023, the commission, chaired by business figure Tony Shepherd, has called for a massive reduction in Commonwealth programs and substantial reform and restructuring of the public service. But the most radical call is for a return to pre-war taxation arrangements in which the states would partially control income tax.
Federalism:
The commission has called for the devolution of services to the level closest to those receiving the services — a common enough argument — but has backed it up by calling on the Commonwealth to reduce the current personal income tax rate and replace the reduced rate with an equivalent “state surcharge” revenue from which would be hypothecated to the states. State governments would then have the power to increase or decrease the surcharge “as a means of injecting further competition into the federation”.
GST revenue would also be split between the states on a per capita basis, with smaller states receiving top-up grants from the Commonwealth to ensure they are not worse off. In return, the Commonwealth would then slash tied grants to the states, in effect freeing up the states to use tax revenue as they see fit. Natural disaster payments to the states would also be reduced to one-quarter to one-third of the cost of recovery, and Commonwealth payments to local government would cease.
Transfer and social assistance payments:
The commission calls for a major overhaul of Commonwealth welfare programs:
<ul>
<li>Slowing indexation of the age pension so that it falls to 28% of average weekly earnings over a 15-year period and then remains at that level thereafter; 
</li>
<li>Automatically adjusting the eligibility age to 77% of life expectancy from 2033, such that the pension age would reach 70 in the 2050s; the superannuation preservation age would adjust automatically to be five years under the pension age; 
</li>
<li>The family home, above a high value threshold, would be included in the pension means test for new pensioners, and tapering rates increased, from 2027; 
</li>
<li>Making the Commonwealth Seniors Health Card harder to quality for; 
</li>
<li>Slowing down the roll-out of the National Disability Insurance Scheme; 
</li>
<li>Cutting off Family Tax Benefit A at a significantly lower threshold — just under $100,000 a year compared to $110,000 now, and reducing the level of benefits for families with more than one child; 
</li>
<li>Abolishing Family Tax Benefit B and replacing it with a sole parent family supplement; 
</li>
<li>Forcing young unemployed people to relocate to “higher employment areas” and increasing the taper rate for additional income; 
</li>
<li>More tightly targeting the Disability Support Pension and setting it at the same level as the age pension at the same time; 
</li>
<li>Consolidating indigenous-specific programs and altering arrangements for overseeing indigenous program spending; and 
</li>
<li>Dumping homelessness programs, as they are a state responsibility, and confining the Commonwealth’s social housing role to rent assistance payments.</li>
</ul>
Education:
The recommendations on education are straightforward — the commission wants the Commonwealth out of education as much as possible and wants higher education students to pay much more:
<ul>
<li>States to have full responsibility for schools, with the Commonwealth’s role limited to providing pools of funding for public, Catholic systemic and private schools, and funding capped at 2017 per-student levels indexed by a combination of CPI and the Wage Price Index applying education; 
</li>
<li>States to have full responsibility or vocational education and training; all Commonwealth programs to be abolished; 
</li>
<li>
“Significantly” reducing the size of the Commonwealth Department of Education; and 
</li>
<li>Students to pay a greater share of higher education costs — 55% from 41% now — and accelerating payments under the Higher Education Loan Program.</li>
</ul>
Defence:
The commission is sceptical of the government’s “aspiration” to lift defence spending to 2% of GDP (which would worsen the budget by $11 billion in 2023 if achieved, according to Shepherd) and suggests funding be driven by the capability required to counter the strategic risks Australia faces:
<ul>
<li>Moving the Defence Materiel Organisation back into the Department of Defence and privatising the Defence Housing Authority; 
</li>
<li>Cutting the level of staff in the Department of Defence to 1998 levels; 
</li>
<li>Greater transparency and budget accountability for the Department of Defence; 
</li>
<li>But on intelligence — bizarrely, no discussion of any kind by the commission of Australia’s massive intelligence budget.</li>
</ul>
Health:
While the commission wants the burden of healthcare shifted to the states, it recognises this is a more complex task than in education. Instead, its priority is imposing more user charges in health in order to deter overuse:
<ul>
<li>Punitive taxation for high income earners who don’t take out expanded, more flexible private health insurance, with no access to the private health insurance rebate; 
</li>
<li>All patients to make Medicare co-payments of $15 up to 15 visits a year and $7.50 thereafter, with lower rates for concession card holders; 
</li>
<li>State governments should impose emergency department co-payments for non-emergency treatment to deter avoidance of the GP co-payment; 
</li>
<li>Capping Commonwealth hospitals funding and reducing reporting requirements on hospitals; 
</li>
<li>Cap the Pharmaceutical Benefits Scheme, increase co-payments and deregulate the pharmacy sector; 
</li>
<li>Aged care reforms currently in train are supported, but implementing the full suite of Productivity Commission recommendations in this area; and 
</li>
<li>Means-testing carer payments and targeting them only at carers whose ability to work has been limited, and setting them (eventually) at the same level as the age pension.</li>
</ul>
Industry and employment:
Having proposed that the axe be taken to individual welfare, the commission couldn’t avoid proposing a similar approach to corporate welfare. But it also wants Australia’s lowest wage earners to have their remuneration held down until it reaches 44% of average weekly earnings.
<ul>
<li>Limiting industry assistance to “areas of genuine market failure” and transitional assistance for “genuine structural change”, including closing 22 existing programs (the remaining automotive industry assistance schemes included) costing around $5 billion, and curbing anti-dumping provisions; 
</li>
<li>Abolishing export assistance by closing the Export Finance and Industry Corporation, closing the Export Market Development program, ending tourism grants and cutting back Tourism Australian and Austrade funding; 
</li>
<li>Consolidating and reducing research and development funding; 
</li>
<li>Less independence for the CSIRO “to ensure that resources are being directed at areas of greatest priority”; 
</li>
<li>Curbing the growth in the minimum wage until it is 44% of AWE in 10 years; 
</li>
<li>Capping the paid parental leave scheme at average weekly earnings (but not means-testing it) and redirecting savings to childcare assistance, which the commission believes was more important to female participation than the PPL; and 
</li>
<li>Ending Farm Finance Concessional Loans.</li>
</ul>
Foreign affairs and immigration: 
<ul>
<li>Abandoning the current bipartisan policy of linking foreign aid with Gross National Income and only indexing current levels of foreign aid, and reducing it if fiscal needs require it; 
</li>
<li>Outsourcing visa processing; and 
</li>
<li>Reducing costs of detaining asylum seekers to 2011-13 levels, plus “renegotiating contracts and better targeting of services”.</li>
</ul>
Broadcasting:
<ul>
<li>Benchmarking the ABC and SBS against commercial broadcasters to inform decisions to cut funding.</li>
</ul>
Public service:
<ul>
<li>Abolishing 35 agencies, a list headed by the Australian Public Service Commission (to be folded into the Department of Employment); most casualties though are small advisory boards; 
</li>
<li>Merge or consolidate over 60 other bodies: the biggest is the merger of Customs and Immigration, and 22 health bodies should be considered for merger or consolidation; 
</li>
<li>Privatise Australian Hearing Services, Snowy Hydro Ltd, Defence Housing Australia, ASC, consider privatising Australia Post in the medium-term; 
</li>
<li>Outsource the Department of Human Services payments system; 
</li>
<li>Public service departments to shift away from middle-management heavy structures; 
</li>
<li>Public servants to be required to be “highly productive”; 
</li>
<li>Departments to provide corporate/HR services to small agencies in their portfolios; and 
</li>
<li>A more coherent and systematic alignment of key performance indicators, reporting requirements and program evaluation.</li>
</ul>
Infrastructure:
<ul>
<li>Commonwealth should only invest  in projects “that provide broad economic or social benefits beyond commercial returns but cannot be completely funded in the short-term by user charges and would not otherwise go ahead”; and 
</li>
<li>
“Over time”, move to road-user charging “for all vehicles to the maximum extent possible”.</li>
</ul>
This article first appeared on <a href="https://www.crikey.com.au/" target="_blank">Crikey</a>.
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bkeane-XQ2u7CA6bB

Commission of Audit recommends radical shake-up of state and federal government relations

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An Australian women’s fashion retailer with annual turnover of $62 million has collapsed.
The directors of Grace Fashion, the parent company of retail chain SES Fashions, appointed Stewart Free, Bradd Morelli and Sule Arnautovic of Jirsch Sutherland as administrators on 22 April.
SES Fashions currently operates 44 retail stores across the country, employing approximately 300 workers. The chain specialises in affordable women’s fashion items, including clothing, shoes and accessories.
Free told SmartCompany that Jirsch Sutherland has had nine parties register interest for the business ahead of the first meeting of creditors, which will be held in Sydney on 2 May.
Free said the administrators are still investigating the state of the company’s books but its debts are believed to be around $12 million.
Free said a “very lacklustre” retail market in the first few months of this year is the main factor in pushing the company into administration, along with “some pressure from suppliers”.
Colin Porter, managing director of Creditwatch, told SmartCompany that it is “definitely a tough environment” for retailers in Australia.
Porter said the collapse of SES Fashions is a prime example of the need for wholesales and suppliers to “be really vigilant” and understand their clients and the market they are supplying.
SES Fashion’s administration follows the <a href="https://www.smartcompany.com.au/finance/cashflow/35295-creditors-line-up-after-fashion-retailers-collapse-dion-lee-ellery-and-mercedes-benz-fashion-week-all-owed-cash" target="_blank">collapses earlier this year</a> of fashion retailers Jasu and UnderCoverWear. 
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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ekeating-PWvazjYE25

$62 million fashion retail chain collapses

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Discussing the issue of the potential price guidance ban in Queensland, the Real Estate Institute of New South Wales president Malcolm Gunning expressed his support for a recent petition for agents to publish reserve prices a week out from auction.
The <a href="/expert-insights/buying/louis-christopher-and-patrick-bright-say-media-outlets-are-ignoring-underquoting-petition">petition, from EPS Property Search's Patrick Bright</a>, looks to increase transparency by requiring real estate agents to publish the reserve prices to the public.
Gunning told Property Observer that he doesn't support the banning of price guides in Queensland, believing that they're "trying to exonerate the responsibility of under or over quoting". Just today, Property Observer reported that the Real Estate Buyers Association of Australia believe that <a href="/expert-insights/buying/coercion-will-be-rife-under-new-queensland-price-guide-laws-rebaa">coercion will be rife if the changes go through</a>.
With Brisbane labelled one of the upcoming investment hotspots, he also expressed concern for buyers in New South Wales and other states and territories who would be heading to the south-east Queensland suburbs for purchasing, unaware of what prices could be attained, where a local might be more familiar.
"In NSW, the institute uspports the agent giving an indication. Agents are dumb when they [underquote]and have no confidence in their ability," said Gunning.
In fact, he pointed to education being the real issue for New South Wales instances of underquoting.
"We think the problem is that in New South Wales the level of entry into real estate is the lowest in Australia and we think that [when agents underquote it is] reflective of agents not being confident in themselves."
He noted that in the last 18 months it has been difficult for agents, particularly those with little confidence in appraising a property, to provide an accurate price guide, with buyers getting desperate to purchase and chasing the properties beyond market expectations.
However, he said, the agent should be able to give a purchaser an indication of the vendors expectation, and perhaps mention the level of competition. If a buyer wants to compete at auction with other bidders, then this is their decision, however they should not be competing with a reserve price set higher than expectation.
Gunning expressed his support of John McGrath, who has been actively against removing the price guidance.
Despite the opposition, however, it might go through.
"The REIQ are supporting it, and they’re a strong organisation, so I think the government might pass it," he said.
He also told Property Observer that he has recently spoken with the Office of Fair Trading who have said that underquoting is not as high on their agenda as looking to knock out dodgy Registered Training Organisations.
"There are a lot of training organisations offering sub-standard training, we’re trying to lift the standard of the industry. We’re getting people coming in with just a week of training," he said.
He noted that the better agents who do not fall into underquoting tend to be those with higher levels of education.
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jduke-EHk3XBmHkn

REINSW's Malcolm Gunning supports early publishing of reserve prices

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It seems that many think about retirement only when they’re nearing it, suddenly considering property investing as a viable option to quickly build themselves a nest egg.
However, EPS Property Search director Patrick Bright says that undertaking risky strategies, or going to “play the casino” with property, should not be an approach for those with little time until retirement day, despite the reality that most people will not have accrued enough super to maintain their current lifestyle.
“Often people who are getting closer to retirement have a lot of disposable income with many at the height of their career and the kids off the books,” said Bright.
“It’s incredibly important to take advantage of this situation and set yourself up with the right investments to ensure you can enjoy all that retirement has to offer.”
Those with a decade left who are now considering investing are fairly well placed, he said, pointing to those in their 50s still able to build a small portfolio with a range of investments. Property, in this dynamic, can be low-risk and insurable.
However, those looking for quick, high returns to catch up may see themselves going backwards.
"The greater the return the greater the risk,” he said.
“In your 50s you don’t have time to recover from a significant financial loss and secure your retirement if the investment goes pear-shaped,” Bright warned.
Instead, looking to preserve capital.
“You should be investing and protecting your financial position with reliable income producing assets that generate both capital growth and cash flow and property plays an important part in this strategy.”
Two key rules for 50+ investors
<ol>
<li>Protection and preservation of your capital is more important than the return on it Invest in secure, quality property primed for capital growth rather than speculating by chasing the latest ‘hot spot’. Investing in locations with upside is important however looking at a location’s history and track record is equally important. Capital cities offer the best opportunity for consistent capital growth, particularly in the inner ring around the CBD but not in it. Buy for high capital growth not high rental yields as these properties generally have high overall returns over the long-run. 
</li>
<li>Invest in the liquid part of the market It’s wise to invest in property that is easy to sell when and if you need to regardless of market conditions at the time. Here, I recommend buying investment properties around the median price for the suburb you’re investing into. I would stick to 20% above or below the median. There are always plenty of buyers and plenty of tenants in the middle of the market.</li>
</ol>
Source: EPS Property Search
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Older investors shouldn’t “play the casino” with property warns Patrick Bright

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Several have claimed, in response to our recent posts, that Queensland’s rising population growth, fuelled by interstate inflows from both Sydney and Melbourne, will create a ‘mini-real estate boom’ in south-east Queensland.
Could they be right?
Well, sadly, the stats tell a very different story.
Just spend a few seconds looking at the three charts below.
<img src="/images/2014/04/14/matusik%20april%2014%20one.png" alt="">
<img src="/images/2014/04/14/matusik%20april%2014%20two.png" alt="">
 <img src="/images/2014/04/14/matusik%20april%2014%20three.png" alt="">
One would think that rising house prices would get more residents to start leaving both Sydney and Melbourne.  But maybe it is more than just this that matters.
Migrants, mostly – from interstate or overseas – need to work.  Unless more jobs are created in Queensland and wages start to accelerate, then Queensland’s population growth will continue to slow.  As we have been saying for some time, the key to a sustainable Queensland recovery is job and wage growth.
Amenity is higher in Sydney and Melbourne – it is and don’t bother trying to argue otherwise. There is nothing wrong with Brisbane; I have chosen to live here.  It just hasn’t got the 24/7 lifestyle that the southern capitals offer.  And that appears to be increasingly important to many.
Climate alone doesn’t cut it anymore.  In fact, it never did – jobs and lower taxes attracted most interstate migrants in the past.  Those attracted mainly because of Queensland’s weather were often the underemployed or unemployed.  Yet, increasingly these days, it would appear that even the down and out prefer to live somewhere else. 
So Queensland’s population growth - my recalcitrant correspondents – maybe isn’t doing what you think it is.  Fewer people are migrating to Queensland from interstate than ever before.  In contrast, population growth is increasing in NSW and Victoria.
Now, we do expect more to move north from Sydney and Melbourne as their housing markets peak.  But this ‘priced-out of home’ movement northwards looks like it has lost a lot of its previous oomph.
Queensland’s declining market share of interstate migration – as the third chart clearly shows – has been a long trend.  Something is amiss; a past connection broken.  Maybe it cannot be fixed.
In short, it looks like there is no magic influx coming to float Queensland’s real estate boat.
Visit Michael's <a href="https://www.matusik.com.au/" target="_blank">website</a>, read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">his blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
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michaelmatusik-49YzLvdmNv

No magic interstate migrant influx coming to float Queensland’s real estate boat

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GUEST OBSERVATION
When Woolworths delivered its half-year <a href="https://www.woolworthslimited.com.au/icms_docs/137436_First_Half_Profit_Report_and_Dividends_announcement_for_the_27_weeks_ended_5_January_2014.pdf" target="_blank">results</a> in February, the numbers for its Masters hardware chain were sobering. On sales of A$393 million, Masters, a joint venture between Woolworths and US company Lowe’s, lost $71.9 million in six months. Put another way, for every dollar of sales in Masters in the second half of 2013, it lost around 23 cents.
Quarterly sales <a href="https://www.woolworthslimited.com.au/icms_docs/137803_Third_Quarter_Sales_Results_-_Financial_Year_2014_13_weeks_to_6_April_2014.pdf" target="_blank">results</a> released by Woolworths today indicate things could be going from bad to worse at Masters. Woolworths management have touted that quarterly sales increased from $128 million to $179 million year-on-year. Masters added 16 new stores (from 29 to 45) in the last 12 months. It’s the growth in the number of stores, rather than growth in sales per store, that has ensured Masters is “Australia’s fastest growing hardware store”.
The bad news is that quarterly sales per store decreased from $4.41 million in Q3 2013 to $3.98 million in Q3 2014 (a decline of 9.4%). In Perth on Tuesday, Wesfarmers announced store on store sales growth of 9.1% for Bunnings, Masters' key competitor. Customers are still buying, just not from Masters.
Today’s analyst webcast had more questions on Masters (which commands less than 1% of Woolworths' sales) than any other Woolworths business, indicating serious disquiet among investors about how things have gone so wrong so fast.
Masters' new management team (Matt Tyson joined Masters in January from Europe’s Kingfisher) face some serious challenges, some unavoidable and some self-imposed.
As a late mover into the “big box” hardware sector, Masters has often had to lease or develop sites that have been passed over by its larger competitor, Bunnings (which is owned by Woolworths’ arch-rival, and Coles owner Wesfarmers). At times, its rush to grow led to real problems. For example, its application to develop a store in Ballina (near Byron Bay) on a flood plain was rejected by the local council in March 2013. This led Masters to apply only months later to develop a store in Lismore, some 30 kilometres to the west. This new site is next to an existing Bunnings store and was clearly not Masters' first preference.
The rush to secure and develop sites has created investment decisions that seem, at times, capricious. As fast growth seems to have been the imperative, Masters' “big bang” approach created massive up front development costs that are a major drag on corporate earnings.
Aldi’s systems and strategies
Not all new entries into the Australian retail industry have been as inauspicious. Notable among the successes has been the German retailer Aldi that has patiently built a portfolio of 340 stores over 14 years – a new store on average every three weeks.
As a privately-owned firm, Aldi does not publish sales and profit figures, although informed estimates suggest it garners around 10% of Australian grocery sales from its Australian stores. <a href="https://corporate.aldi.com.au/en/about-aldi/" target="_blank">Aldi has signalled</a> its intention to open new stores in South Australia and Western Australia over the next few years, continuing its patient, staged approach to its Australian rollout.
Strategic management researchers often suggest firms should “stick to their knitting” – doing what they know well and knowing what they do well. Aldi knows what it’s good at – selling discount groceries. Founded in war-ravaged Germany in 1948 by the Albrecht brothers (the name is a derivation of Albrecht Discounts), Aldi keeps a limited product range of less that 1500 SKUs – or products – per store, while Woolworths and Coles often have more than 10,000. This limited range has many benefits - it enhances Aldi’s buying power, facilitates smaller stores, increases product turnover and simplifies inventory management.
In store, Aldi uses simple and effective palletised logistics for its fast turnover products and keeps its staffing levels low. Around 95% of its products are own-brand, and the quality of these products is often excellent. These are sourced both locally (for most fresh foods) and from its global supply chain (for many longer shelf life products).
Real estate wars
Aldi’s patience has allowed it to build retail scale slowly, centred on its five major Australian distribution centres (two in Victoria, two in NSW and one in Queensland).
Getting access to new retail sites has been a real problem for Aldi, as Coles and Woolworths <a href="https://www.theage.com.au/national/aldi-brands-coles-safeway-retail-bullies-20080628-2yjt" target="_blank">reportedly</a> locked them out of many suburban centres through restrictive agreements with landlords. In response, Aldi was patient, pursuing shopping centre vacancies when they arose, but also building a large number of standalone sites when the opportunities emerged.
These tactics are a sign that Woolworths and Coles are too big and too dominant in the Australian grocery industry. With a combined share, by some estimates, of 80% of Australian grocery sales, new growth has to come from areas where Woolworths has limited know-how and little brand equity.
Slow and steady wins the race
With the benefit of hindsight, it could be argued that Woolworths’ Masters rushed foray has been driven more by machismo than fundamental strategic management thinking.
Wesfarmers’ success with Bunnings was a sore point for Woolworths’ corporate management - whose grocery business had seen off the challenge of Coles prior to Wesfarmers acquisition of Coles in 2007. The launch of Masters has certainly created an internecine war in the hardware industry, but so far Woolworths has been the main victim.
In comparison, Aldi has a fundamentally valuable point of differentiation in its market – namely low prices. Aldi delivers this differentiation through strong internal consistency in terms of efficient systems and processes, a culture of corporate modesty and the patience to successfully execute its growth strategy over a long period of time. In essence, its management is driven by sound reasoning, disciplined consistency and patient execution.
Masters is on track to lose half a billion dollars before Woolworths hopes it to become profitable in 2016. That is serious money, and the Masters investments continue to limit Woolworths’ abilities to invest in and renew its existing portfolio. The worst-case, but highly possible, scenario is that the turnaround does not happen and the losses continue to escalate.
John Rice is associate professor in strategic management at Griffith University<a href="https://theconversation.com/institutions/griffith-university"></a>.
John Rice is a current member of the Australian Labor Party and the National Tertiary Education Union.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. 
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jake-cSmGT7VXVf

Masters could learn a lot from Aldi

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As the Abbott government inches closer to <a href="https://www.smartcompany.com.au/legal/politics/41665-hockey-s-budget-roadmap-industry-assistance-age-pension-and-welfare-payments-on-treasurer-s-hit-list" target="_blank">delivering its first budget on 13 May</a>, the Prime Minister has today signalled some changes to his proposed paid parental leave scheme.
The scheme, first proposed by the Coalition when it was in opposition, is expected to take a $5.5 billion chunk out of the government’s coffers each year, with the aim of encouraging more Australian women to return to work after having children.
While Abbott and Treasurer Joe Hockey have continued to defend the <a href="https://www.smartcompany.com.au/legal/33217-small-business-divided-on-coalition-s--5-5-billion-parental-leave-policy---where-s-the-money-coming-from" target="_blank">controversial policy</a>, some members of the Coalition have been <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-02-27/government-senator-warns-parental-leave-scheme-too-costly/5288208" target="_blank">signalling their unease over the policy to the media</a> and the Greens have raised concerns about the cost of the policy in light of the government’s slated plans to cut welfare payments in next month’s budget.
So what will the new scheme look like? And who will be affected by the changes? We’ve pulled together a SmartCompany Q&amp;A to provide some answers.
What has the Prime Minister actually said?
<a href="https://www.theaustralian.com.au/news/latest-news/abbott-to-reduce-parent-leave-cut-off/story-fn3dxiwe-1226900421459" target="_blank">According to The Australian</a>, the Prime Minister will cut the threshold for the scheme from $150,000 to $100,000.
The change does not introduce a means-test for the scheme, but instead caps the amount of money that women can receive at a lower level.
The $100,000 threshold is in line with <a href="https://www.theaustralian.com.au/national-affairs/tony-abbotts-100000-welfare-test-for-families/story-fn59niix-1226898879439" target="_blank">Abbott’s recent comments</a> about the income limit at which families should stop receiving welfare payments.
And how is this different to what was on the table before?
The scheme will continue to pay six months or 26 weeks parental leave based on the recipient’s full-time salary, but the maximum payouts from the scheme will now be capped at $50,000 instead of $75,000.
The government has not proposed any other changes to the scheme, with existing features such as the payment of superannuation still included.
How many new parents will be affected?
Diversity strategy and compliance consultant Prue Gilbert told SmartCompany that less than 2% of Australian women of childbearing age earn above $100,000 and so the change would only affect a small percentage of workers.
“It’s a pretty minimal change and is more symbolic than anything else,” said Gilbert.
And if the government is making the change to save money, does it mean other measures rumoured to be included in the budget such as the “debt levy” will be scrapped?
Probably not. Gilbert says the change will have a “negligible impact on the budget bottom line” and so the government will proceed with its plans to reduce the current budget deficit by dramatically reducing its spending and potentially introducing a temporary increase to personal income tax levels.
So if the change is minimal, what’s Abbott thinking?
Gilbert says the change is “aimed at getting more support” for the scheme, which is now attracting <a href="https://www.smh.com.au/federal-politics/political-news/nervous-liberal-mps-beg-prime-minister-tony-abbott-to-rethink-paid-parental-leave-scheme-20140428-zr0vo#ixzz30J8LG5iV" target="_blank">criticism from within the Coalition’s own ranks</a>.
“The Greens have previously said that they will support the scheme at $100,000,” said Gilbert, who believes the change will mean that the scheme will almost certainly gain the Senate’s tick of approval.
Would the government be better off spending more on affordable and accessible childcare?
Media reports this week have <a href="https://www.theaustralian.com.au/national-affairs/childcare-shortage-anbsphurdle-for-paid-parental-leave/story-fn59niix-1226898789564" target="_blank">focused on the paid parental leave versus childcare debate</a>: that is, that women would be more likely to return to work if they have better access to more affordable and higher quality childcare.
However, Gilbert says that on average, Australian women take a mixture of 32 weeks in paid and unpaid leave from their jobs after having a child, and a paid parental leave scheme that allows mothers to spend the first year of their child’s life at home is in the best health interests of the mother.
It’s also much more expensive for childcare centres to care for children under the age of one, says Gilbert, who will be looking at the legislative detail of the government’s policy to see if it will be possible for women to take 12 months leave at half-pay under the scheme. “It would be a very positive thing,” she says.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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What will Abbott’s scaled-back paid parental leave scheme look like?

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Lend Lease will begin its largest commercial tower in its $6 billion Sydney's Barangaroo South project with a pre-commitment from two cornerstone tenants -  PricewaterhouseCoopers Australia and HSBC Bank Australia. 
In a statement to the ASX, Lend Lease said it should be as an anchor tenant of Tower 1, PwC has entered into an agreement to take 26,500 square metres or  12 floors in the 49-storey building. HSBC has signed heads of term for the bank to take 8,000 square metres of space or 3.5 floors in the building.
Lend Lease will commence the development and funding of 100% of the building, known as Tower 1 of International Towers Sydney, via existing capital sources. It intends to introduce co-investors into Tower 1 at an appropriate time in the future.
Lend Lease Group chief executive, Steve McCann, said "prior to today’s announcement, we were already ahead of where we expected to be at this stage of the evolution of the Barangaroo South precinct, with two towers 77% leased and under construction, and the first two apartment buildings sold".
As part of its announcement, the listed property group said it had entered into an agreement to reduce its co- investment in Lend Lease International Towers Sydney Trust (LLITST) from 25% to 15% via a sale to international pension fund APG. 
Following completion of the sale of the 10 per cent interest, Lend Lease’s equity commitment to LLITST will reduce from $500 million to $300 million.
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Lend Lease secure two cornerstone tenants for $6 billion Barangaroo South tower

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One of Australia's most exclusive bridal wear designers, Mariana Hardwick, has put the ground floor salon and first floor of her landmark Hardwick Building in Melbourne's Brunswick up for auction next month. 
Up for grabs is a ground floor bridal salon of about 375 square metres, a first floor atelier plus additional office spaces of around 875 square metre and air rights for a total of about 1,250 square metres.
The sale also includes Lot N, which is about 950 square metres and is located above the first floor of the main buildings. The inclusion of that lot, said selling agents Fitzroys, provided the purchaser with the opportunity to undertake further development in the future (STCA). 
The property is offered subject to a long lease over 1,065 square metres of the ground floor and first floor to Mariana Hardwick, potentially until 2032. The lease structure is 5+7+7 years from 1 August 2013.
Around 135 square metres of the first floor is leased to typographic studio Letterbox on a five year deal starting on 15 October 2013.
The current combine returned rental is estimated at $250,000.
The property will go under the hammer on 16 May through Fitzroys agent James Gregson.  
The history of the two-level building stretches back until 1907 when it began as the Hoopers Drapers store. After a succession of owners including Waltons and Spotlight, Mariana Hardwick acquired the Hoopers Building in 2005 as a new location for her salon. 
Gregson described property as a "high yielding investment" which was expected to return about 8-9% to the purchaser.
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