THE Queensland Resources Council (QRC) has repeated its call for the State Government to commit to 10 years of stable royalty taxes to make the resource industry more attractive to global investors post COVID, and provide Queensland with economic stability and job security. 

The industry has also called on the government to “dramatically improve” its regulatory processes and cut excessive red and green tape. 

Chief executive Ian Macfarlane last week launched the mining and gas industry's 'You can count on us to help Queensland recover' campaign in the lead-up to the state election to raise awareness about the sector’s $74 billion annual contribution to the state economy. 

Mr Macfarlane said the only reason resources has been able to keep the state economy afloat during COVID was because of previous decades of large-scale investment in resources projects.

“Increased royalty rates and excessive regulation during the current term of the State Government has meant long term investors don’t regard investment in Queensland resource projects as positively as they have in the past,” Mr Macfarlane said. 

“The QRC is extremely concerned the Queensland Government doesn’t understand the long-term implications of the ‘go slow’ it has imposed on gas and mining operations over the past three years.

“Big resource companies that roll out big projects work on long-term timeframes, and they don’t like surprises.

“Offering 10 years of royalty stability and streamlining regulatory practices will immediately signal to potential investors that Queensland is open for business, and will translate to thousands of jobs and opportunities for Queenslanders.” 

Mr Macfarlane said the general public would be very surprised at just how difficult it’s become for resource companies to do business in Queensland. 

“The lack of legislative consultation with the resources industry, slow regulatory and approval processes, and the barriers being put in front of us has been unbelievable,” he said. 

“We have that many hoops to jump over and crawl through, by the time we get to the other side we’ve missed 10 opportunities to give Queensland another few decades of economic stability and jobs."

Mr Macfarlane said Queensland ranked 15th in terms of investment attractiveness in the globally recognised Fraser Institute survey of mining companies and investors released earlier this year, comparing poorly to Western Australia’s number one position.

“If you’re looking for the canary in the coalmine, this is it,” Mr Macfarlane said.

“Not only does Queensland rank behind Western Australia, South Australia and the Northern Territory, we’ve got 11 other international competitors ahead of us who companies would prefer to invest their money with.

“This a terrible result for such a resource-rich state and reflects poorly on the government.” 

Mr Macfarlane said the QRC needs to see real change in the Queensland Government’s attitude towards resources in the lead-up to the state election.

“Our industry needs the Premier to commit to a stable royalty regime for the next 10 years and to world class regulation processes to enable us to do what we do best, which is running world-class mining and gas operations,” Mr Macfarlane said. 

"Large scale projects that get off the ground will lead to thousands of jobs and billions of dollars in royalty taxes for the State budget for decades, so this is an opportunity for the government to secure Queensland’s future post-COVID. 

“A balance can be struck between supporting mining as an industry, and making sure companies meet legislative requirements and community expectations around their environmental responsibilities. 

“The resource industry is ready to work with any government to achieve this.”

www.qrc.org.au

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THE Australian Small Business and Family Enterprise Ombudsman, Kate Carnell has welcomed legislation passed in the Senate to implement the Payment Times Reporting Scheme, requiring big businesses to be transparent about their payment times.

Ms Carnell said the Bill represented important progress at a time when it is critical small businesses are paid promptly.  

“Australian small businesses have been hit hard by the COVID crisis so getting paid on time is key to their survival,” Ms Carnell said.

“This Bill will require businesses with turnover of more than $100 million to publish information about their payment policies.

“It requires big businesses to be up front and honest about the time it takes to pay their small business suppliers.

“Importantly, the legislation introduced today will apply to around 3,000 Australian large businesses, including foreign companies that carry on an enterprise in Australia along with certain government enterprises.

“It also defines the small business as those that have a turnover of less than $10 million per year, which covers 99 percent of businesses.

“My office will be invoking the powers we have to investigate any reports of big businesses failing to live up to the information provided on this register once it is implemented.

“We support the Payment Times Reporting Scheme as passed by the Senate, however Labor’s ‘failsafe mechanism’ amendment would have strengthened the Bill.

“The proposed failsafe mechanism would have allowed the regulator to force big businesses to pay their small business suppliers in 30 days or face hefty fines, but the amendment was unsuccessful.

“In reality, the Payment Times Reporting Scheme is a step in the right direction, but it won’t solve the problem of late payment times on its own.

“Legislation requiring SMEs to be paid in 30 days is the only way to drive meaningful cultural change in business payment performance across the economy.

“Cash flow is king for small businesses and when small businesses are paid on time the entire economy benefits.”

www.asbfeo.gov.au

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THE House Standing Committee on Social Policy and Legal Affairs is commencing public hearings for its inquiry into family, domestic and sexual violence, with the first two hearings to take place on September 7 and 8.

On Monday September 7, the Committee will hear from government agencies, research institutes and other organisations about the experience of family violence in the Australian community and the policies and programs in place to respond to it and reduce its prevalence.

On Tuesday September 8, the Committee will further discuss these issues with various bodies including legal sector and service provider organisations, as well as focusing on technology-facilitated abuse with the eSafety Commissioner.

Chair of the Committee, Andrew Wallace MP, said, "These hearings are an opportunity for the Committee to hear about the current evidence base on the problem of family and domestic violence in Australia, and the actions being taken by governments and community organisations to prevent and respond to it.

"We want to investigate what is working well, and where there could be improvements, both to reduce violence against women and their children and to allow them to escape violence.

"In addition, though the significant majority of Australians experiencing domestic violence are women and children, the Committee understands that there are also men who live with this kind of abuse, and we are conscious of the need to inquire into its damaging impacts irrespective of the sex of the perpetrator or the victim.

"The Committee is also keen to hear about the impact the COVID-19 situation has had on those experiencing family violence, and on family violence service providers."

Mr Wallace said, "The Committee will use evidence from these and future hearings in formulating its report and recommendations, which will seek to inform the next National Plan to Reduce Violence against Women and their Children."

These hearings are the first of several expected to be held for the inquiry between now and November 2020.

In order to ensure public safety during the COVID-19 situation, Committee members and witnesses will participate in the hearing remotely, via videoconference and teleconference. Interested members of the public are invited to watch the live broadcast, available at aph.gov.au/live.

Further information, including hearing programs and submissions to the inquiry, is available on the Committee’s website.

Public hearing details

Date: Monday, 7 September 2020
Time: 8.45am to 4pm
Location: Via videoconference

Date: Tuesday, 8 September 2020 
Time: 8.45am to 4pm
Location: Via videoconference

View the public hearing programs here.

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A MOUNT DRUITT tax professional has been sentenced at the Sydney District Court to one year and eight months jail today, having pleaded guilty to dishonestly causing a loss to the Commonwealth of nearly $180,000 by lodging false income tax returns and amendments without his clients’ knowledge. He was also ordered to pay $179,826 in reparation.

Hussain Nazeer, a formerly registered Business Activity Statement (BAS) agent, lodged 22 fraudulent income tax returns for 14 of his clients between 2010 and 2013. This resulted in $23,000 of refunds that he kept for himself. Mr Nazeer’s clients provided honest information about their income and deductions, but he submitted different information in their returns.

Mr Nazeer also lodged 108 false tax return amendments on behalf of 37 taxpayers without their knowledge. His false claims, which mostly related to car and medical expenses, resulted in an extra $156,000 in refunds that went straight to his bank account.

Assistant Commissioner Adam Kendrick welcomed the sentence handed down today.

“Tax and BAS agents play a vital role in contributing to and protecting the integrity of the Australian tax and super systems. The majority of registered agents do the right thing, but unfortunately there are some agents who take advantage of their trusted position for financial benefit,” Mr Kendrick said.

The ATO has a program dedicated to identifying and addressing agents whose behaviour has an immediate and ongoing threat to the integrity of the tax and super systems, their clients, and the wider Australian community. 

“As demonstrated in today’s case, even registered tax professionals can be dishonest and take advantage of their clients,” Mr Kendrick said. "That is why it’s important for the ATO to maintain the integrity of the tax profession and weed out those who try to undermine their trusted position.

“Mr Nazeer’s actions showed a complete disregard for not only the law, but also his clients’ trust by lodging fraudulent tax returns and amendments in their names,” Mr Kendrick said.

Mr Nazeer’s registration with the Tax Practitioners Board (TPB) was ceased in April 2016. 

People concerned about the conduct of a tax practitioner can report them to the TPB at tpb.gov.au/make-complaint.

Anonymous reporting of possible tax evasion and crime activities can be reported to the ATO via the app or by calling 1800 060 062. 

This matter was prosecuted by the Commonwealth Director of Public Prosecutions.

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