Govt policy clouds future of residential tenancies

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One of Western Australia’s biggest residential property managers has called for more clarity around how tenants impacted by COVID-19 renegotiate rental agreements and how landlords can continue to service debt under the federal government’s moratorium on evictions.

Rental Management Australia chief executive Andrew Graham, who manages a rent roll of more than 3,500 properties in WA, Queensland and Victoria, said relief was desperately needed not only by renters, but also by landlords willing to support their tenants.

Mr Graham said issues that needed to be addressed included the ability for landlords to make mortgage payments if they grant a rent-free period or an abatement to their tenants, the ability to continue to maintain properties, and the prospect of continuing to make other statutory payments.

On the tenant side, Mr Graham said more clarity was particularly needed over a tenant’s obligations in the forms of paying additional rent or accepting an extended lease period once the COVID-19 crisis passes.

“The impact of this pandemic will be felt by many, if not most people, and that includes tenants and the hundreds of thousands of hardworking Australians who own investment properties,” Mr Graham told Business News

“We haven’t yet heard any

Covid-19: Govt reduces penalty on uncleared airport cargo by half

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The civil aviation ministry has ordered a 50 per cent waiver in demurrage charges in order to unclog import warehouses and facilitate smooth transport of essential items during period.


However, the customs department feels that this will only discourage more importers and brokers from lifting their consignments and cause further congestion of ports.



Demurrage refers to the penalty levied on importers by air terminal operators for delays in clearing shipments and is collected on per-kilogram basis.


The reduced charges will apply to goods which are cleared by midnight of April 16 and subsequently normal rates will apply.


“With anyway no demand of imported items amid of manufacturing facilities, the waiver will basically incentivise importers to continue keeping the shipment at the airports itself,” said a senior customs officer.


While trade associations were seeking a complete waiver of charges, the government has announced 50 per cent waiver to “encourage the air community to clear the backlog of imported


In it’s April 1 order the civil aviation ministry said the imported cargo could not be cleared creating a congestion

Zydus Cadila gets final nod from USFDA to market generic seizures drug

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Drug firm on Thursday said it has received final approval from the US health regulator to market generic Lamotrigine extended-release tablets, used to treat certain types of seizures.


The company has received final approval from the United States Food and Drug Administration (USFDA) to market Lamotrigine extended-release tablets USP in the strengths of 25 mg, 50 mg, 100 mg, 200 mg, 250 mg, and 300 mg, said in a statement.



The product will be manufactured at the group’s manufacturing facility at special economic zone (SEZ), Ahmedabad, it added.


The group now has 283 approvals and has so far filed over 386 abbreviated new drug applications (ANDAs) since the commencement of its filing process, said.

How is investment & wealth management adapting with technological advancements?

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Thanks to digital innovation and the rise of fintech, the financial marketplace continues to evolve at a rapid rate.

Make no mistake; this evolution is gradually changing the way in which investment and wealth management firms operate and the services that they offer to clients.

In the case of service providers such as WH Ireland, there’s also a drive to change the way in which city bonuses are paid and the perception of the industry as a whole. This company is committing to paying bonuses out of earned profits, rather than total revenues generated within a specific period of time.

With this in mind, there’s no doubt that firms are striving hard to remain accessible and relevant in the modern age. But how exactly are investment and wealth management companies adapting to change in the digital age?

What Technologies are Prominent in the Financial Industry?

According to figures, an estimated 68 per cent of financial services respondents have claimed that learning about new technologies and implementing these represents their biggest challenge.

Not only this, but 69 per cent are concerned about their ability to stay relevant in the eyes of younger investors and Millennials, which is why the successful

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