Brett David Freudenberg

Where there is a WIL there is a way

While work‐integrated learning (WIL) is seen as a way to address the call for improved ‘employment readiness’ and generic skills of graduates, it has been stated that WIL programs need to be ‘well managed and structured’ and ‘well integrated’. To provide such structure and integration a Professional Development (PD) Program was developed to assist students who would undertake a WIL internship as part of their business degree. This paper details evidence of the impact of the PD Program for first year students compared to those undertaking a conventional orientation process. The preliminary evidence demonstrate that structure and integration of the PD Program has had positive effects in terms of generic skills, satisfaction and self‐efficacy.

Determinants of Client-Professional Relationship Quality in the Financial Planning Setting

Advice provided by financial planners has the potential to impact the financial and emotional well being of clients. Despite the outcomes of quality financial planning relationships, there is little direct evidence to support the importance of ‘relationship quality’ in financial planning. Previous research has emphasised the importance of relationship quality in psychology, nursing, and business settings. This research investigates determinants of client-professional relationship quality in financial planning, measured in a survey of clients and financial planners regarding relationship factors of trust, engagement, empowerment, ownership, client activity and commitment. Ratings for relationship dimensions were compared between clients and financial planners, with financial planners found to overestimate their clients’ levels of trust and commitment and underestimate their client’s levels of empowerment. The relationship dimension of ‘trust’ was found to be critical for client-professional relationship quality.

Facilitating Islamic Finance in Australia

This article considers the emergence of Islamic banking and finance in global financial markets and efforts by governments (through regulatory and tax initiatives) to facilitate it. Recently there have been calls for Australia to become a financial hub – particularly in south East Asia. One aspect of this is the recognition of faith-based financial alternatives in the marketplace. This consideration includes ensuring that tax laws are synchronised and do not unduly hinder or restrict the orderly development of such alternatives. The need for research in this area is critical as some nations (such as the United Kingdom, Malaysia and Singapore) have introduced reforms to facilitate lslamic finance, and there are initial calls in Australia for similar reforms to be considered in Australias quest to become a regional financial services hub.Such changes call for a closer look at tax reforms in ways that may produce tangible benefits to Australia in terms of trans-national banking cooperation, capital and investment flows and tax revenues.

The program risks of work-integrated learning: a study of Australian university lawyers

ABSTRACT Work-integrated learning (WIL) is a risky business in higher education. The strategic opportunities that WIL presents for universities cannot be achieved without taking on unavoidable legal risks. University lawyers are involved with managing the legal risks as part of their internal delivery of legal services to universities. It is important to identify the risks that potentially arise, so these can then be managed. A case study involving Australian university lawyers reveals the ‘program risks’ of WIL. Program risk is a type of legal risk that relates to the conduct of universities, host organisations and students before, during and after a WIL placement, as well as the personal characteristics of students that can expose the university to legal risk. The research findings may be applied by university lawyers, academic disciplines and university management to evaluate and improve risk management in WIL programs.

The impact of the GST on mortgage pricing of Australian credit unions: An empirical analysis

Purpose - – The purpose of this paper is to investigate the impact of the Goods and Services Tax (GST) on mortgage pricing and to measure the GST shifting ratio of Australian credit unions. Design/methodology/approach - – Using the proprietary data from 79 credit unions in Australia, we perform multivariate regression analysis on the effect of the GST on mortgage effective yield spreads and interest margins, respectively. We also introduce a model that is used to measure the GST shifting ratio. Findings - – We document that the introduction of the GST in July 2000 led to the substantial rise in mortgage costs charged by credit unions in the post-GST periods. Overall, the GST alone contributed to the increase of effective yield spreads and interest margin by 65.3 and 70.1 basis points, respectively. As measured by the GST-shifting ratio, credit unions passed more than twice of the GST rate. This suggests GST over-shifting, and it is generally consistent with tax over-shifting literature. Originality/value - – This is the first time the GST shifting ratio has been robustly measured with the use of multivariate models on mortgage costs.

Emerging from the shadows: tax as a research discipline

More than ever, research is playing an important part in supporting proposed tax reforms and finding solutions to Australia’s tax system. Also, for tax academics the importance of quality research is critical in an increasingly competitive tertiary environment. However, life for an academic can be an isolating experience at time, especially if one’s expertise is in an area that many of their immediate colleagues do not share an interest in. Collegiately and the ability to be able to discuss research is seen as critical in fostering the next generation of academics. It is with this in mind that on the 5th of July 2010 the Inaugural Queensland Tax Teachers’ Symposium was hosted by Griffith University at its Southbank campus. The aim was to bring together for one day tax academics in Queensland, and further afield, to present their current research projects and encourage independent tax research. If was for this reason that the symposium was later re-named the Queensland Tax Researchers’ Symposium (QTRS) to reflect its emphasis. The Symposium has been held annually mid-year on four occasions with in excess of 120 attendees over this period. The fifth QTRS is planned for June 2014 to be hosted by James Cook University.

Change for change's sake: are tax reforms required to assist the Australian arts sector?

The arts sector can be plagued by characteristics that make its sustainability difficult, and it would appear that those in the arts sector consider that Australias tax system has an important role to play in contributing to a sustainable arts sector. For example, within the 2020 Summit, at least 19 recommendations by the committee on “Towards a creative Australia” related to proposed tax changes (Australia, 2008). However, there are already a number of tax provisions that assist the art sector (either directly or indirectly) – is it that the current concessions are ineffective, not well understood or something else? This article reports on the survey results of 236 people involved in the arts sector (either as artists, arts organizations, advisors or supporters). This article reports the findings of the survey in terms of bettering understanding how taxpayers, particularly those involved in the arts sector, accessed tax information, their tax awareness of current tax provisions that directly/indirectly affect the arts. Furthermore, it explores what those involved in the sector consider to be their greatest tax issues. Given the survey results, it will be argued that to ensure that any reforms for this sector to be effective there needs to be greater considerations to the way that artists access tax information, and their level of competency in dealing with tax obligations, and how practical strategies can be implemented within the current framework to assist the arts. It will be argued that this background understanding is critical in determining what tax reforms, if any, are needed to ensure that reforms are not done just for changes sake.

Facilitating Islamic Finance in Australia: Possible Models for Reform

This paper focuses on reform issues currently under consideration by tax and regulatory authorities to facilitate Islamic finance in Australia. The necessity for a comprehensive approach is critical if the government’s desire to promote Australia as a financial services hub is to be realised. However, in pursuing this goal one identified delimiter in attracting Islamic finance remains the current lack of tax parity treatment. It is argued that if such tax reforms are to be implemented, there should be an overarching approach to guide reforms – particularly to ensure that there are no adverse consequences, such as increased complexity and potential for tax avoidance. In addressing these shortcomings and potential barriers, this paper proposes tax reform models aimed at providing guidance in designing appropriate tax measures for consideration by regulatory authorities.