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This is a very significant matter to be determined, and because it was heard in the UK, it will also apply to Australia as a precedent.

Many contractors do not realised that they fail the Personal Services legislation, that requires a true contractor to dervice more than 10% of their income from more than one source, and the Control Test, which most fail also.

This is a good outcome, as many so called contractors, such as myself being a finance broker, in accordance with this UK case, would be employees.

The real estate industry in WA has to pay their agents $300 per week base.

The drop in the cash rate today marks a period of medium term historically low interest rates.

With property prices plunging in almost all states, and rental yields at all time lows on the east coast, this may trigger another housing boom, as rates should now stay low for several years.

 

Reposted 4wards Consulting's post.

ASIC v Westpac in June 2020, on appeal in front of Justices Michael Lee, Jacqueline Gleeson and John Middleton, re:

Australian Securities and Investments Commission v
Westpac Banking Corporation (Liability Trial) [2019] FCA
1244

The case centred on Westpac's use of an automated process to approve hundreds of thousands of home loans, substituting would-be borrowers' actual living expenditure for a relatively low benchmark, the Household Expenditure Measure (HEM).

Reposted 4wards Consulting's post.

In the early 90's, I ran the "Fat Man in the Seat" case in the Western Australian Industrial Relations Commission, wherein the employee had been terminated because he had "allowed himself" to become heavier than the Safe Working Load of the seat in a front end loader, causing it to bottom out and hurt his back.

Whilst it didn't affect his compensation claim, the Commisioner upheld the dismissal because the employer had assisted every way possible to help this employee lose weight, and keep the weight off, yet he did not stick to the health program.

I was the AWU union advocate.

In the early 90's, I ran the "Fat Man in the Seat" case in the Western Australian Industrial Relations Commission, wherein the employee had been terminated because he had "allowed himself" to become heavier than the Safe Working Load of the seat in a front end loader, causing it to bottom out and hurt his back.

Whilst it didn't affect his compensation claim, the Commisioner upheld the dismissal because the employer had assisted every way possible to help this employee lose weight, and keep the weight off, yet he did not stick to the health program.

I was the AWU union advocate.

ASIC v Westpac in June 2020, on appeal in front of Justices Michael Lee, Jacqueline Gleeson and John Middleton, re:

Australian Securities and Investments Commission v
Westpac Banking Corporation (Liability Trial) [2019] FCA
1244

The case centred on Westpac's use of an automated process to approve hundreds of thousands of home loans, substituting would-be borrowers' actual living expenditure for a relatively low benchmark, the Household Expenditure Measure (HEM).

Only a true tin foil hatter would call a horse a "racist", while hitting it with a flagpole.

Anyone who hit's an innocent animal should serve a mandatory jail term.

$24Bn in loans, $150m in Introducer Fees, and fined $15m because they are co-operating with the regulator.

Mortgage brokers have to complete a Cert IV in Finance and Mortgage Broking, Diploma in Finance and Mortgage Broking within 1 year, MFAA studies, including Anti-Terrorist Funding/Fraud training, security clearances to almost ASIO level without any black marks, and 50 CPD hours each year.

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