Amid allegations wealthy Chinese ­citizens are secretly transferring money into overseas property markets, Australian banks’ are being queried at various levels including the claim of the ‘mis-using’ of the ‘Significant Investor Visa’ funds for investment into Australian real estate, reports the Australian Financial Review.

Banks are telling a parliamentary economics committee inquiry investigating the foreign investment in Australian real estate, that they there are limitations on what they know about foreign real estate investors.

The AFR reports that the Macquarie Group was asked what it did to make sure loan clients were not mis-using the “Significant Investor Visa” and diverting the funds into property assets: “Macquarie said it did not directly monitor how loaned funds were being used but it had the power to call in the loan or seize collateral early if clients were dishonest.”

ANZ, which is targeting Asian customers, was asked whether it traced the source of income for individual foreign buyers when it was lending money to domestic property developers.

The bank’s response, said it did not trace foreign buyers’ source of income, but it checked the post-codes of “pre-sales” to make sure they were genuine.

The Coalition has invalidated legislation deeming oil and gas projects to be within Australia’s migration zone, insisting the controversial move was necessary to restore certainty to the $200 billion offshore oil and gas sector.

In response to a Senate vote Wednesday night that blocked several visa categories for foreign oil and gas industry workers, Assistant Minister for Immigration and Border Protection Michaelia Cash issued a Legislative Instrument on Thursday to override the vote. The minister said that the controversial move was necessary to restore certainty to the $200 billion offshore oil and gas sector.

Labor’s legislation amended the Migration Act to ensure people working in an “offshore resources activity” were deemed to be in Australia’s migration zone. Therefore, foreign workers would have been required to hold an “offshore resources visa” or permanent visa.

Last Wednesday the Australian Senate voted to disallow a regulation that put foreign workers into three visa categories. That regulation, Migration Amendment (Offshore Resources Activity) Regulation 2014, was intended to quash a more restrictive law put in place by the previous government that would have required a new “offshore resources” visa for those workers. Both measures had effective dates of 30 June.

Following the disallowance vote, Assistant Minister for Immigration and Border Protection Michaelia Cash quickly issued Legislative Instrument IMMI 14/077 – Determination Subsection A(6) Migration Act 1958 to override the vote.

In a fast-paced world that seems to be ever-changing, stress can feel like an unavoidable part of everyday life. Everyone reacts to stress differently however, there are things you can do to help you cope with stress, and lower your risk of developing stress-related health problems. Here Bupa have outlined their Top 10 Tips for Managing Stress.

1.    Understand the problem – if you understand a bit about what is causing your stress, you’ll be better able to deal with it. Think about what may be causing you to feel stressed and consider how you’re going to tackle it.
2.    Take back control – feeling out of control can increase your feelings of stress. Plan more effectively and prioritise the more important jobs first.
3.    Take breaks – taking a break can help you to see things more clearly. Have a breather or take a brief break regularly. Make yourself a cup of tea or go for a short stroll outside.
4.    Learn to relax – relaxing will help you to reduce your stress levels. Take some deep breaths – stress is a physical reaction and deep breathing helps to counteract its effects.
5.    Exercise – is good for your wellbeing. It can help improve your mood, help you sleep, give you a sense of achievement and help you release your stress.
6.    Get enough sleep – feeling stressed or anxious is a key reason for insomnia. Establish a sleep routine – try to go to bed and get up at the same times each day – even at the weekend. And don’t nap during the day.
7.    Make time for the activities you enjoy – you’re more likely to neglect this area of your life if you’re stressed. Doing the things you enjoy can help to relax and distract you.
8.    Eat a healthy diet – diet can affect your emotional and mental health. Make sure you eat a balanced diet containing all the major food groups. Eat regular meals — your brain needs a consistent flow of nutrients to work properly.
9.    Unhealthy behaviours – cut down on excessive alcohol and caffeine consumption – try to stop smoking. In the long term these things may make you feel worse, and can affect your health.
10.    Visit your GP or healthcare professional to get the support you need if the above methods to reduce the effects of stress don’t work for you.

If you would like to find out more about managing and reducing stress in the workplace please click here www.bupa.com.au/health-and-wellness/health-information/az-health-information/managing-stress-in-the-workplace or if you have any questions relating to managing stress please do not hesitate to contact your Bupa representative.

Not yet registered with Bupa?  Click here to register now: migrationalliance.bupa.com.au/For-migration-agents/register

Disclaimer
©Bupa Australia Pty Ltd June 2014. This information has been developed and reviewed for Bupa by health professionals. To the best of their knowledge it is current and based on reputable sources of medical research. It should be used as a guide only and should not be relied upon as a substitute for professional medical or other health professional advice. Bupa Australia Pty Ltd makes no warranties or representations regarding the completeness or accuracy of the information.

Bupa Australia is not liable for any loss or damage you suffer arising out of the use of or reliance on the information, except that which cannot be excluded by law. We recommend that you consult your doctor or other qualified health professional if you have questions or concerns about your health.

Will OMARA be cut down to size and will consumer protection prevail with the establishment of an independent immigration commissioner under the review of OMARA? This is the chance for all RMAs to provide submissions on the governance of RMAs as submissions close on 27 July 2014.

Any inquiry into a public agency suggests problems have been brewing for far too long and have come to a head. No doubt, constant calls by the Migration Alliance have been a key catalyst to the recent announcement of an independent review the Office of the Migration Agents Registration Authority (OMARA). Now it’s the turn of RMAs to step up and make submissions to the reviewer or provide suggestions and feedback to MA’s white paper calling for an independent immigration commissioner. This will help ensure the inquiry sees OMARA for what it is and give RMAs and prospective migrants the changes they need.

OMARA has had trouble within and without since its inception: constant staff turnover; constant complaints from RMA’s of cumbersome administrative and expensive registration processes; and the overzealous scrutiny of RMAs. And the mother all its issues: being the lackey of DIBP and without independence thus begging the question:  how exactly does OMARA offer consumer protection to prospective migrants given this DIBP bias?

It is not unreasonable to expect this inquiry to cut OMARA down to size. Cruising on an annual expenditure of some $5million to administer the registration of 5000 agents, is in no uncertain terms excessive.

Perhaps one of the most damming indictments comes from Christopher Levingston’s description of the OMARA: “From its inception the MARA in all of its incarnations including the self-regulated model administered by the MIA, has comprehensively defaulted into a complex, unregulated and largely unresponsive ‘Authority’…”

The inquiry is clearly set up to consider issues such as this one. A key term of reference according to Assistant Minister of Immigration and Border Protection, Senator Michaelia Cash, who ordered the review, is to, “examine and report on the OMARA’s organisational capability and challenges, as well as the quality and effectiveness of its internal controls and governance”

Sponsored positions in the occupations below are now available in Australia via an On-Hire Labour Agreement with the Department of Immigration & Border Protection (DIBP).  

Australian companies’ now have access to overseas professionals in IT&T and Engineering, Financial Services and Sales & Marketing without the need to sponsor them onto 457 visas directly.   This allows Australian employers to employ overseas nationals without having to go through the cumbersome process of sponsorship.

If you know of an Australian employer and/or a 457 visa candidate looking to join forces, but are unable to do so due to 457 visa and sponsorship restrictions then I would encourage you to speak to RMA Anthony Ross on (02) 92210370 or email This email address is being protected from spambots. You need JavaScript enabled to view it. .