THE Indigenous Affairs Committee will hear from a number of Indigenous businesses today in Canberra as part of its Inquiry into Pathways and Participation Opportunities for Indigenous Australians in Employment and Business.
Committee chair Julian Leeser MP said the views and experiences of successful Indigenous-owned enterprises will be hugely important for the inquiry.
"The Indigenous Business Trade Fair in Parliament House tomorrow will provide an opportune time to hold discussions with some of the participants," Mr Leeser said.
"Who better than existing Indigenous companies to advise us on what government might do to foster more business start-ups and greater economic independence among our First Nations communities.
"This is our first public hearing and we hope to speak to many more of these businesses in the coming months in a variety of sectors."
The public hearing will be from 12.30-1.30pm and the full program will be available at the inquiry website.
WITH EMPLOYEE underpayment scandals occurring with increasing regularity, new research has revealed that 48 percent of organisations want better information on penalty rates and other shift work entitlements, to enable their payroll departments to do their jobs better.
The research comes from a survey of more than 630 payroll managers by the Australian Payroll Association, one of Australia’s leading networks in payroll training, consulting and advisory for employers.
The results indicated that the building and construction industry most struggled with understanding shift work entitlements: 74 percent of payroll managers admitting they required more knowledge of this entitlement for better job performance. This compared with half the amount (37 percent) of payroll managers from the professional, scientific and technical services industries that felt they required more knowledge regarding shift work entitlements, including penalty rates.
The data also revealed which other entitlements payroll managers require more knowledge of: Forty-five (45) percent need more information about general tax requirements across multiple employee payment categories, 40 percent need more knowledge of long service leave payment rules, and 43 percent need more information on redundancy pay entitlements.
Payroll managers in smaller companies of under 50 people were much more concerned about redundancy pay, with 59 percent declaring it was an entitlement they required more information about to perform their job to a higher standard. This compared with only 31 percent of payroll managers at large companies with more than 5,000 employers who felt they needed more information on this entitlement.
Tracy Angwin, a leading Australian expert on payroll and the CEO and founder of the Australian Payroll Association, said, “With more and more companies facing Fair Work action as a result of employee underpayments, organisations must minimise the incidence of payroll errors. Payroll managers require proper training and qualification to maximise job performance and accuracy.
"The Australian Payroll Association offers online and in-person training sessions, as well as formal payroll qualifications for payroll personnel, to help them keep up-to-date with the technical aspects of payroll. We can also help them to find out how they can automate or simplify their payroll processes, as well as optimise their payroll functions.”
Q. Which aspects of awards and legislation around employee payments and entitlements require more knowledge to perform your job to thebest of your ability? Choose all that apply
Shift worker entitlements, including penalty rates
48%
General tax requirements across multiple employee payment categories
45%
Redundancy pay
43%
Long service leave
40%
Wages of salary
23%
Superannuation
16%
Annual leave
7%
Sick leave
6%
About Australian Payroll Association
Australian Payroll Association is one of Australia’s leading networks in payroll training, consulting and advisory for employers. It offers end-to-end payroll process reviews, compliance auditing, specialist recruitment services, payroll qualifications and training courses, and a membership program. Established in 2010, Australian Payroll Association offers the only nationally accredited payroll qualifications at Certificate IV and Diploma level through its registered training organisation, Australian Payroll Institute. It also holds annual events including its national conference and end of year seminars, in addition to releasing an annual Payroll Benchmarking Report. It also has a regular digital podcast series called ‘Talking Payroll’.
Chair, Andrew Laming MP, said, "The Committee is concerned that students in regional, rural and remote areas risk falling behind their peers in metropolitan areas due to inequitable access to education and other opportunities.
"Raising awareness of options for further education and training, and career opportunities can help build student aspiration. The committee looks forward to hearing from the Country Education Partnership and Rural Youth Ambassador Alumni about a range of initiatives that foster youth aspiration," Mr Laming said.
"The committee is particularly interested in hearing how education meets the learning needs of students and how barriers in education can be overcome."
Public hearing details
Date: Wednesday, 12 February 2020 Time: 11.30am to 12.45pm Location: Committee Room 2R1, Parliament House, Canberra
The closing date for submissions has been extended to Friday, 28 February 2020. Submissions can be made online or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..
Jason Falinski, chair of the committee, said, "A number of reviews have observed that the Australian retail corporate bond market is small compared to those of similar countries. The committee is interested in why Australian businesses make greater use of offshore bond markets rather than issuing bonds."
The committee will consider the tax treatment of corporate bonds as well as the Corporations Act 2001 to determine whether there are any impediments to the development of the retail corporate bond market.
Submissions from interested individuals and organisations are invited by Thursday, March 16, 2020. The preferred method of receiving submissions is by electronic format lodged online using a My Parliament account.
Further information about the inquiry including the terms of reference is available on the committee’s website.
CPA AUSTRALIA'S 2020-21 Federal Budget submission proposes the government implement a suite of both short and longer-term fiscal measures that will help to stimulate the economy.
Both official and private sector data points to 2020 being another challenging year for Australia. Preliminary results from the organisation’s Asia-Pacific Small Business Survey also supports this view, with 40 percent of Australian small business respondents expecting the economy to contract in 2020.
Australia is also facing challenges such as ever-increasing international competition and an ageing population, as well as the recent bushfires, the ongoing drought and the potential economic risks associated with the spread of coronavirus, warned CPA Australia.
Recommendations by the CPA include the Federal Government:
increases its spending on repairs, maintenance and preservation of public assets, especially in areas impacted by recent fires and drought;
fund a business advice voucher system for bushfire affected businesses of $1,000 per business;
introduces a broad-based investment allowance for businesses;
removes many of the government fees imposed on small business;
funds a holistic review of the regulatory frameworks for financial advice to ensure regulation is fit for purpose and to reduce overlaps and costs;
introduces a 40 percent savings income discount for individuals and non-business-related net interest income and net residential rental income;
funds the development of educational material and other programs to assist small business build their digital capability, management skills and understanding of overseas markets, and delivered by professional advisers;
funds programs that encourage those new to business to seek professional advice. Options include the government giving new businesses a voucher that can be redeemed for professional advice from, for example, a registered tax agent;
makes the current instant asset write-off a permanent feature of the tax system;
develops policies that further encourage the development and deployment of technologies that will play a role in combatting global warming. This should cover several policy areas including education, energy and science.
"We believe that these recommendations will assist Australian business weather the current economic challenges and help maintain the long-term sustainability of Australia’s public finances," a CPA spokesperson said.
CPA Australia’s full submission can be accessed here.
About CPA Australia
CPA Australia is one of the world's largest accounting bodies, with more than165,000 members working in more than 100 countries and regions and supported by 19 offices globally. Core services to members include education, training, technical support and advocacy. Employees and members work together with local and international bodies to represent the views and concerns of the profession to governments, regulators, industries, academia and the community.
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