The last SouthEast board meeting for 2014 will be on the 12 December at the office of the co-operative. The main item of business will be reviewing the performance of the board over the last 12 months - achievements, challenges and failures. It is important for the board to annually review its work and avoid complacency. Issues to be canvassed include how the directors conduct themselves at meeting, the adequacy of reports to the board to ensure informed decision-making and the capacity of the board to monitor the performance of the co-operative.
The Financial System Inquiry Final Report (November 2014) released on 7 December 2014 has called for the examination of a raft of tax breaks that he says distort borrowing including negative gearing, capital gains tax concessions and dividend imputation.
The FSI was chaired by Mr. David Murray (Pictured). Mr. Murray was a former Commonwealth Bank Chief Executive. The FSI was established by the Commonwealth Government on 20 december 2013.
Tax breaks for housing are criticised because they “tends to encourage leveraged and speculative investment” and “is a potential source of systemic risk for the financial system and the economy.”
Capital gains concessionsare criticised as a tax subsidy for the wealthy and that a reduction “would lead to a more efficient allocation of funding in the economy”.
Retaining dividend imputation is criticised because “the case for retaining dividend imputation is less clear than in the past” and suggested this could instead be replaced with a lower company tax rate. He said dividend imputation had created a “bias towards debt funding” and in particular pushed Australians and superannuation funds to invest in domestic shares.
“The benefits of dividend imputation, particularly in lowering the cost of capital, may have declined as Australia’s economy has become more open and connected to global capital markets.”
“Imputation provides little benefit to non-residents that invest in Australian corporates.”Read more ...
Martin Foley, the State Labor Member for Albert Park District, is Victoria's new Minister for Housing, Disability and Ageing in the newly elected Labor Government and he writes about his background:
I grew up as one of five kids in an Irish Catholic family, living on the outskirts of Melbourne.
We didn’t have much in the way of money. My mum was a nurse and my dad was just starting out in small business.
When I was eight years old, my mum passed away.
Suddenly, my dad was left with caring for 5 kids under 12 on his own. I have no idea how he did it, but with the help of family he made sure all his kids got the best shot at life.
From a very early age my dad taught us the importance of a good education, loyalty, hard work and getting involved to shape your community.
I watched my dad, with everything else he had going on; make time for his family, his neighbours, his church and most importantly, his local cricket club.
The idea of sticking together, working as a collective for something more than just your own interests became ingrained in me. Looking back now, I know this experience was the foundation for shaping my life.Read more ...
Following the Annual General Meeting on the 17 November 2014, the SouthEast board met on 28 November 2014 at the SouthEast Office - chaired for the first time by new Chairperson Andrea Lee. In the picture at the top of the table Andrea Lee chairs her first board meeting.
The board discussed the Annual General Meeting and was pleased with the 45 members who attended and their responses to surveys on the AGM and the Annual Report. The board decided, however, to write to all members who did not attend the meeting to seek an explanation for their absence.
The meeting also elected the following office-bearers:
Deputy Chairperson - Shirley Faram
Secretary - Greg Nolan
Deputy Secretary - Gayle Koubwere
Business and Finance Convenor - Tracey Hall
Governance and Policy Convenor - Shirley Faram
Audit Committee Convenor - Steve Kropf
There were many changes at the Annual General Meeting of the SouthEast Housing Co-operative Ltd on the evening of 17 November 2014 at the Dandenong Club, Dandenong. Fifty members were in attendance at the meeting. A major change was leadership with Andrea Lee replacing Shirley Faram as the co-operative's Chairperson. Shirley has been Chairperson of the co-operative since its formation in 2000 - except for a period of one year. Andrea has been the Deputy Chairperson and Secretary of the co-operative. The co-operative has a term limit for its Chairperson and is keen to promote and facilitate succession planning and this year Shirley had reached her term limit. From this year also the co-operative is introducing six year term limits for all directors of the co-operative. The photograph shows Andrea (left) being congratulated by Shirley (right) on her election.Read more ...
The SouthEast Housing Co-operative Ltd's Annual General Meeting will be held between 7:00 - 9:00 pm. on 17 November 2014 in the View Room at the Dandenong Club. The agenda will include the Annual Report, New Rules, the Services Charter and the Member Manual. General Manager Ian McLaren will also give a short talk on housing co-operatives in the United Kingdom. Members are reminded that they should either attend the meeting or provide a reason for not being able to attend the AGM.
This year's Annual Report continues the co-operative's commitment to accountability and transparency and includes detailed and comprehensive financial statements, an analysis of Strategic Plan Priorities, Key Performance Measures at 30 June 2014, key future challenges for the co-operative and reproduces the speech by the Registrar of Houding Agencies, Mr. Anthony Hardy, at the AGM on 18 November 2013. A copy of the Annual Report 2013-2014 can be downloaded.
At the Annual General Meeting on 17 November 2014 members co-operated in completing a survey on the AGM - 40 (80%) of the 50 members in attendance responded to the survey.Read more ...