News stories
Stapling updates for employers
29th September 2021
As you may be aware, on 17 June 2021, the Government passed the Your Future, Your Super (YFYS) legislation which introduced three major reforms:
- Stapling
- Performance test
- Best Financial Interests Duty
Stapling poses the greatest change for employers as it is a new law that will link a person to one super fund and the stapled fund will follow the person when they change jobs.
This is due to come into effect from 1 November 2021.
In response to this, Cbus has created a dedicated web page containing important information and updates for employers.
R U OK?
1st September 2021
Tradies face a range of challenges across their working lives – from job uncertainty to financial pressures, intense physical demands and workplace culture issues. In an industry where stigma is high, these pressures can build up and impact mental and emotional wellbeing for tradies if they don't feel they can talk to others about their struggles.
The R U OK? Tradies resources provide practical tools and tips for family, friends and workmates to spot the signs that someone on their work site may be struggling, to empower them to spark a meaningful R U OK? conversation and to help them find support if needed.
When we genuinely ask ‘Are you OK?’ and are prepared to talk to a mate about how they’re feeling we can help someone who might be struggling to feel connected and supported, long before they’re in crisis.
CBus hits $60 billion FUM milestone
17 March 2021
Cbus, one of Australia’s largest industry super fund for the building, construction and allied industries, has reached a new milestone in January 2021 with total Funds Under Management (FUM) surpassing $60 billion.
Despite the challenges brought on by the COVID-19 pandemic in the past year, Cbus’ ability to organically grow our FUM is a result of our commitment to our investment approach which has included investing opportunistically in the post-COVID economic recovery.
It also reflects the success of our investments strategy as we continue to deliver value for Cbus members by internalising our investments program to deliver strong returns while reducing investment costs.
Haymes - Helping hand project
23 February 2021
2020 has been a really tough year, but sometimes the tough times also bring out the best in us. So here at Haymes, we decided we wanted to thank all of the communities who have supported our people and our shops, by donating paint to a deserving local business in our community. Up to three finalists will be chosen by your local Haymes Paint Shop from community nominations and the winner will be decided by locals casting their vote.
Follow the links for more information:
Security of Payment– Secure by name but not by nature
22 october 2020
Given the Minister for Commerce, John Quigley, has described the construction industry as ‘a vital part of our economy, providing the jobs, housing and critical infrastructure to meet the needs of all Western Australians….’ it’s disappointing to see the State Government treating our industry with contempt in the amendments to the new Security of Payment Bill 2020.
Originally an election promise to ‘even the playing field’ between builders, primary contractors and subcontractors, the Project Bank trials were limited only to contractors working on government contracts.
This time, the new retention trust account system excludes subcontractors working on residential projects.
Security of Payment - by name only V3
ReddiFund gives much needed boost to suicide prevention
4 September 2020
Prominent construction industry redundancy fund, ReddiFund have once again demonstrated their value and their commitment to the construction workers in Western Australia by handing over a cheque for $200,000 to MATES in Construction WA.
WA Government in ‘appalling’ broken promise to protect the payments of subcontractors
11 June 2020
The WA Government is backtracking on its promise to make contractors put aside subcontractor payments to protect them if there are any financial difficulties with the project. This is against what they promised to do and will therefore continue to leave tradies exposed to potential losses from non-payments.
CTF Support Package for Construction Workforce
23 April 2020
Details of the package and claim process are available here:
COVID-19 Documents and Links
Last Updated: 22 April 2020
This information regarding COVID-19 will be updated regularly as information comes to light. It will provide documents and links for you to stay up to date to run your business.
Access useful documents and links HERE
Building & Industry Commission
March 30 2020
In March, the MP&DA has had the opportunity to add our voice to an action calling on the Prime Minister to support security of payment for SME subcontractors (Small and Medium Enterprises). This issue has been dragging on for too long and it looks like the COVID-19 epidemic is only going to make things worse.
Large builders are asking the government (and private clients) to not impose liquidated damages because the Coronavirus is impacting their building schedules, however the same leeway is not being afforded to their subcontractors. It’s not fair, it’s not right and we want something done about it. See the letter to the PM here.
Letter to Prime Minister, March 30 2020
Feature story in WAToday
The vexed issue of white set plaster is in the news with a feature story in WAToday. See the full story here.
