Welcome to the November edition of our Newsletter.
Well, it’s that time of the year again, where the Nation stops for a horse race! The Melbourne Cup is run today with a host of foreign raiders attempting to take the Cup from our shores; by the time you read this you will probably know the winner. It would be helpful to know the winner now, along with this week’s Powerball numbers please. If you can teleport the above to me that would be appreciated!
The month of October has been dominated by two serious events; the referendum and the invasion of Israel, and then the counter-offensive by Israel on the Gaza strip and the West Bank.
The referendum outcome seemed to be quite expected in the end, however the size of the ‘No’ vote probably took quite a few by surprise. Analysis in the aftermath is somewhat bemusing; determining exactly why 15,895,231 people voted one way or the other is fraught with hubris, the motivations of people to vote as they did would be so varied.
The result has certainly sent a message to those motivated to support the initiative, it was very interesting to watch the debate and behaviours of people. There were a lot of “Yes” signs on homes and I saw little to none when it came to “No” signs. To me it is somewhat of a reminder that there will always be a ‘silent element’ that should always be considered in matters of politics; the silent element, as I describe them, may not always be a majority element but will usually be significant in size.
The importance of the referendum was overshadowed by the disastrous eruption of atrocities in Israel, the outworking of the original invasion appears awful for everyone. To hope peace can be restored quickly in the region is probably way too optimistic at this stage, however it would be miraculous if peace can be restored quickly and the suffering that is being experienced on all sides can cease swiftly.
Today the Reserve Bank will be determining whether to raise the cash rate again to curb inflation. The markets are betting on a rise, and some articles I have read have also seemed to bring some fairly intense pressure on our new Reserve Bank Governor, Michelle Bullock, to do so. I’m hoping Ms Bullock and the Board will hold their nerve for a bit longer and let the current higher interest rates continue to do their work. Raising interest rates further will bite into the family budgets of middle Australia already experiencing difficulties with higher costs of living.
In this month’s newsletter we look at the ever-changing landscape of employment laws and also the move to harmonise powers of attorney nationally. Temporary or annual shutdowns at places of work are now considered in the Modern Awards under the Fair Work Act. A review of your employment contracts to consider whether an update is required to allow for temporary or annual shutdowns is probably opportune.
Powers of Attorney are an important document that all people could potentially benefit from having in place, especially if you travel overseas frequently or are moving into your elderly years or have a significant illness. A POA empowers others to undertake financial transactions on your behalf, which can be useful from time to time and certainly if you were to become unexpectedly incapacitated. Seeking to tighten regulation around POA’s in an endeavour to limit potential abuse, especially against the elderly and vulnerable, is certainly a worthwhile pursuit. Hopefully the States will make some progress on this front in the near future.
I hope you all enjoy a great month of November, and you back a winner in the Cup. I’m going for “Without a Fight”, this year’s Caulfield Cup winner has had last year’s winning jockey get off of last year’s winning horse, Gold Trip, to ride it. I’m hoping Mark Zahra knows what he’s doing, because Gold Trip is a fair chance as well!
If you have any questions or concerns in areas where we may be able to assist, feel free to give us a call, as we say… we’re here to help!
For information on the range of commercial legal advice and services that we provide, head to:
Michael Fabbro
Practice Principal
Ezra Legal
