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The association has announced that it has become a member of the small-business council.
The Mortgage & Finance Association of Australia (MFAA) has confirmed it has become a member of the Council of Small Business Organisations of Australia (COSBOA).
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The small-business organisation aims to foster enhanced awareness and understanding of the role of small businesses in Australia among public servants, elected officials, larger businesses, the media, and the general community.
MFAA CEO Anja Pannek said: “We’re thrilled to become members of COSBOA and have the opportunity to work together for the benefit of our broker members, the vast majority of whom are small-business owners themselves.
“We know our members require strong representation at all levels of government – federal and state – and the expertise of the COSBOA team will enable us to expand our advocacy support to a broader range of matters that impact our members as small-business owners.
“These include matters ranging from industrial relations law, competition, less ‘red tape’ and importantly a better tax system for small-broking businesses, including payroll tax.”
Luke Achterstraat, CEO of COSBOA, said that the council’s “strength comes from its members”.
“With MFAA joining us we are even better equipped to represent the interests of small business,” he said.
Achterstraat further stated that the ability of Australian households to access mortgage finance is “more important than ever” in the middle of a housing affordability crisis.
“Mortgage brokers play an important role in unlocking the dreams of many Australians, including young families,” Achterstraat said.
“We need to ensure that policy settings support rather than hinder the work of these brokers.
“We look forward to MFAA as we collaborate to support engagement and advocacy efforts.”
According to the MFAA, becoming a member of COSBOA will allow the association to further widen its member support and advocacy, while also enabling the MFAA to provide its members with additional support and resources specifically designed for small businesses.
“We look forward to working with COSBOA and enhancing the voice of our small-broking business members across Australia,” Pannek said.
This comes as the MFAA submitted its recommendations in support of the Treasury in developing the issues paper into the independent review of Australia’s credit reporting framework.
In a submission to Attorney-General’s Department, Naveen Ahluwalia, MFAA’s executive policy and legal, stated that recommendations are based off roundtable discussions between broker members.
“[T]he credit reporting system is integral to providing brokers with comprehensive information about their clients to enable them to meet responsible lending and mortgage broker best interest duty obligations, and to recommend products that best suit their clients’ circumstances and needs,” Ahluwalia said.
[RELATED: MFAA submits recommendations for credit reporting framework]
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