Skip to main content

Business News Releases

QRC welcomes Federal Government’s $125 million exploration boost

THE Queensland Resources Council has welcomed the Federal Government’s $125 million funding extension to Geoscience Australia’s Exploring for the Future (EFTF) Program.

QRC chief executive Ian Macfarlane said the investment would lead to a clearer understanding of the geological structures in Queensland and Australia.

“This is a vote of confidence in the exploration industry from the Morrison Government and I congratulate the Federal Resources Minister Keith Pitt for backing the exploration industry which is hurting from the economic impacts from COVID-19," Mr Macfarlane said. 

“Geoscientific data plays a critical role in framing policy settings from government and this program provides an in-depth understanding of our resource assets which belong to all Queenslanders.”

QRC’s exploration focused member organisation the Queensland Exploration Council (QEC) said this program was a vital tool for the exploration industry. 

“Queensland is blessed with a rich source of minerals and the skilled people to find them. Connecting this to supportive governments will ensure the minerals discovered today are the foundations of tomorrow’s resources industry,” QEC chair Kim Wainwright said.

‘Industry has long understood the return on investment potential of geoscience data and the recent ACIL Allen analysis showed the total potential benefits flowing from the activities in the current EFTF could be between $446 million and $2.5 billion."

The EFTF program has been in operation for four years.  

Link to Geoscience Australia’s Exploring for the Future (EFTF) Program: https://www.ga.gov.au/eftf

Link to ACIL Allen analysis: https://www.acilallen.com.au/projects/program-evaluation/exploring-for-the-future-program-return-on-investment-analysis

ends

  • Created on .

NSW offers help in improving COVID safety at work

THE NSW Government has launched a new suite of guidance materials to help all types of businesses manage the risk of COVID-19.

Minister for Better Regulation, Kevin Anderson said these new materials had been specifically created for non-customer facing businesses, to ensure everyone has access to industry specific, practical guidance to prevent the spread of the virus.

“About 45,000 businesses have already downloaded the NSW Government’s COVID Safety Plans, and we’ve now created additional resources for offices, construction sites, farms, and manufacturing premises,” Mr Anderson said.

“The materials being made available include practical, inexpensive guidance that will no doubt inspire some innovative strategies as they are put into play.”

For example, in an office environment, a safety plan can be tailored to variables such as numbers of staff, whether the building has lifts, shared amenities or hot desks.

“Common misconceptions for office workers are that hot-desking is banned, and that only one person can ride in a lift at a time. That’s simply not true so long as you clean your desk thoroughly before and after use, and maintain a social distance within the lift,” Mr Anderson said.

“Ultimately we want to focus on getting NSW’s economy back up and running and providing businesses with the right guidance to operate safely and successfully in the current climate.

“I encourage every business to jump online and download these simple yet powerful tools to map out a safe way back to business that puts customers and workers front and centre.”

The new campaign materials including social media tiles, downloadable posters and checklists for all NSW offices are available at www.nsw.gov.au/covid-19/industry-guidelines/office-environment-including-call-centres

 

ends

  • Created on .

Tax agent gets maximum ban for multi-million dollar tax evasion

FOLLOWING a recent investigation, the Tax Practitioners Board (TPB) found that tax agent Peter Biantes had attempted to conceal over $35 million dollars of income from the Australian Taxation Office (ATO) through the creation of multiple overseas entities.

Accordingly, the TPB terminated his tax agent registration, and banned him for the maximum period of five years.

In doing so, the TPB found that Mr Biantes had:

  • deliberately tried to avoid the tax implications of the sale of a business, intentionally misled the ATO, and obstructed the proper administration of the taxation laws;
  • made false statements to the TPB in two of his annual declarations and an application for renewal of registration;
  • repeatedly failed to comply with taxation laws in the conduct of his affairs including in relation to the timeliness and accuracy of his tax returns.

Speaking about the case, chair of the TPB, Ian Klug AM said, "Through serious and repeated misconduct, Mr Biantes attempted to undermine the integrity of the taxation system. Terminating and banning an agent from applying for registration is the firmest sanction that can be imposed by the board and is never taken lightly. The severity of Mr Biantes’ conduct requires the maximum ban to be imposed."

"The TPB is committed to targeting practitioners who undertake, or facilitate, black economy behaviour and tax evasion through schemes such as offshoring and failing to declare proceeds and profits. Where we discover this behaviour, we will act swiftly and take strong action."

About the Tax Practitioners Board

The Tax Practitioners Board regulates tax practitioners in order to protect consumers. The TPB aims to assure the community that tax practitioners meet appropriate standards of professional and ethical conduct. TPB is on Twitter @TPB_gov_au, Facebook and LinkedIn

ends

  • Created on .

New IEA report highlights Australia’s untapped energy efficiency potential

A NEW International Energy Agency (IEA) report highlights the massive potential of energy efficiency to create jobs, cut bills and address climate change, but Australia can do much more to seize this opportunity, according to the Energy Efficiency Council.

The 10 recommendations, published by national leaders, ministers, top business executives and prominent energy experts that make up the Global Commission for Urgent Action on Energy Efficiency, show how energy efficiency can play a central role in fixing the social and economic damage of the COVID-19 crisis.

“A major drive to improve the energy efficiency of homes and businesses could create 120,000 job years of employment in Australia, while reducing cost-of-living pressures for businesses and households,” Energy Efficiency Council CEO Luke Menzel said.

“Action on energy efficiency would immediately help those most affected by the economic impacts of COVID-19, including financially stressed households and businesses, and workers seeking new opportunities. 

“However, in 2018 Australia was ranked the world’s worst performing developed country on energy efficiency. We must do better and seize this moment so that we can create thousands of jobs, lower energy bills, and slash emissions," Mr Menzel said.

Over the last month, multiple joint statements – including organisations as diverse as the Australian Council of Social Service, the Property Council of Australia, Australian Industry Group, the Business Council of Australia and Australian Council of Trade Unions – have called for state and Federal Governments to put energy efficiency at the heart of stimulus measures. 

“There is near-universal support for energy efficiency as a key stimulus measure because projects can roll out rapidly, deliver a long term productivity dividend, slash emissions and are highly job intensive,” Mr Menzel said. 

“The Global Commission has called on governments around the world to show leadership, upgrading their own schools, hospitals and other public to save taxpayers money and create jobs straight away.

“Global experts have given us a plan. Now we need state and federal governments to invest at a speed and scale that matches the magnitude of the economic challenge ahead of us,” Mr Menzel said.

ends

  • Created on .

COVID-19, the health sector and Australia's international relations

THE health system will be the focus of the first public hearing of the inquiry on the impact of COVID-19 on Australia’s Foreign Affairs, Defence and Trade

Witnesses from pharmaceutical company IDT, and peak body the Australian Healthcare and Hospitals Association, will give evidence on the impacts on the healthcare sector of the pandemic.

Senator David Fawcett, Chair of the JSCFADT, emphasised the importance of the healthcare system to Australia’s national resilience. 

"Australia’s health system is both domestically critical and sensitive to disruption in international supply chains," Senator Fawcett said. 

"Hearing more about the impact of the pandemic is a logical first step in this inquiry, which aims to develop ongoing effective national framework to ensure the resilience required to underpin Australia’s economic and strategic objectives."

Full terms of reference for the inquiry are on the Committee website. Submissions can be made until June 30, 2020.

Public hearing details:

Date: Thursday, 25 June 2020
Time: 3.30pm – 4.30pm AEST 
Location: By teleconference

The hearings will be audio streamed live at aph.gov.au/live.

ends

  • Created on .