Skip to main content

Business News Releases

JobKeeper scheme a lifesaver say CPAs

THE Australian Government’s third tranche of stimulus and safety net measures will go a very long way to ameliorate the dramatic impact that the COVID-19 crisis is having on businesses, workers and their families, and the economy, according to accounting body CPA Australia.

The new JobKeeper scheme announced today – offering $1,500 per employee per fortnight and backdated to 1 March 2020 will, according to CPA Australia general manager for external affairs, Paul Drum:

  • Be of significant financial benefit to workers and their families;
  • Help businesses to stay open during the crisis where and when permitted;
  • Keep employers and employees engaged during this period of unprecedented uncertainty;
  • Speed up the business and economic recovery as we come out of the crisis period.

"The cost of this measure – an additional $130 billion over and above what has already been committed to by governments at all levels is breathtaking – but indicative of the magnitude of the health and economic challenges Australia is facing now and in the future," Mr Drum said.

“CPA Australia will continue to work with governments and the relevant government agencies to help ensure this package of relief gets to those who qualify as expeditiously as possible.

www.cpaaustralia.com.au

About CPA Australia

CPA Australia is one of the world's largest accounting bodies, with more than 165,000 members working in 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.

ends

  • Created on .

JobKeeper package a survival kit for small businesses

THE Australian Small Business and Family Enterprise Ombudsman Kate Carnell has welcomed the $130 billion JobKeeper package announced by the Federal Government today.

The flat payment of $1,500 per fortnight per employee will be delivered via the Australian Taxation Office (ATO). It will be available to staff that have been stood down since 1 March and staff that continue to work.

Small businesses that have experienced a decline in turnover of 30% or more will be eligible to register for the payment on the ATO’s website.

“The JobKeeper payment will play a critical role in assisting small businesses that have been impacted by the COVID-19 crisis,” Ms Carnell said.

“Crucially, it will allow small businesses to continue trading and paying their staff. It will also ensure small businesses stay connected with their staff, who have been stood down, so they can re-engage their team when trading conditions return to normal.

“Any small business will tell you that staff are their most important asset and this announcement today will be a huge relief for many small businesses that have been in the midst of making very tough decisions about their future as a result of the coronavirus," she said.

“The payment applies across the board to sole traders, the self-employed, full time, and casual staff that have worked for more than 12 months for the same employer.

“It’s a generous payment that’s equivalent to 70 percent of the median wage and while payments will start flowing to businesses from the first week of May, it has been backdated to staff on the books since 1 March 2020," Ms Carnell said.

“In addition to the JobKeeper payment, the Job Seeker payment has also been extended to those – including sole traders - with partners that have an annual income of up to $79,000. The previous limit was $48,000 so this is a positive development.

“The government is taking unprecedented steps to shield small businesses from the devastating impacts of COVID-19 and this JobKeeper package gives the sector the hope that they need.

“My office will continue to work with the small business community and to advocate for any further measures that will support them during this difficult time.”

www.asbfeo.gov.au

ends

  • Created on .

Magnitsky Act inquiry continues with teleconference

AN INQUIRY into whether Australia should adopt Magnitsky-style laws to impose sanctions upon individuals who commit human rights abuses will hold its first public hearing this week, via teleconference.

Kevin Andrews MP, Chair of the Human Rights Sub-Committee of the Joint Standing Committee on Foreign Affairs, Defence and Trade, said the inquiry would continue despite the spread of COVID-19, using technology to enable witnesses and Sub-Committee Members to perform their roles while maintaining social distancing.

"It’s important that the Australian Parliament continue its work in these difficult times," Mr Andrews said.

"This teleconference hearing will enable the Human Rights Sub-committee to advance our inquiry. This is important work and we will be pressing on to deliver a comprehensive report later this year."

The public hearing will provide an opportunity for the Sub-committee to hear from human rights advocates and community groups.

"These groups have overwhelmingly expressed their support for Australia to expand its targeted sanction laws and give the Australian Government more options in dealing with human rights violators," Mr Andrews said.

In light of the current circumstances arising from the spread of the COVID-19 virus, the Sub-committee will be holding its public hearings via teleconference until further notice.

Due to the current circumstances the Sub-committee is continuing to take submissions. To make a submission, contact the Secretariat on 02 6277 2312 or This email address is being protected from spambots. You need JavaScript enabled to view it..

Public hearing details

Date: Tuesday 31 March 2020
Time: 9am – 1.15pm
Location: Via teleconference

The hearing will be streamed at aph.gov.au/live.

ends

  • Created on .

Australian Government urged to acquire 'Aurora Australis' to deliver critical food and supplies to Norfolk Island

THE Australian Government has been urged to acquire the soon-to-be retired ship Aurora Australis to address critical shortages of food and other essential supplies on Norfolk Island, which has been placed in isolation to avoid an outbreak of COVID-19.

The Aurora, affectionately known as the 'Orange Roughy', this week returned from its final voyage for the Australian Antarctic Division where it delivered 12 months worth of cargo, food and fuel to remote Macquarie Island.

Norfolk Island is dealing with a growing crisis following the loss of one of two vessels that previously supplied the island, along with a massive reduction in air travel, resulting in chronic shortages of food, stock feed, building materials, and other essential supplies needed by the island’s 1800 residents.

With no port, and without the ability to handle containerised freight, the island has been left dependent on a single small vessel sailing once every two months from Auckland. For the limited goods that are supplied, freight costs have led to the doubling of prices compared with mainland Australia.

The Maritime Union of Australia argues the Aurora Australis is uniquely suited to addressing the crisis facing Norfolk Island. Not only does it have the capacity to carry 1790 cubic metres of non-containerised break bulk cargo, along with an additional deck capacity for 700 tonnes of containerised freight, but it has three decades of experience delivering supplies to remote locations.

The vessel can also carry and transfer nearly two million litres of fuel, meaning it would be able to provide all the fuel needed by vehicles, heavy machinery, and the airport on Norfolk Island.

MUA assistant national secretary Ian Bray, who spent two decades as a merchant seafarer including several years on the Aurora Australis, said the union believed the vessel should be urgently acquired by the Australian Government, with an initial mission to deliver essential supplies to Norfolk Island.

“Even before the COVID-19 pandemic forced the isolation of Norfolk Island, the community was already in crisis, with supermarket shelves bare, local contractors unable to get supplies, and farmers running critically low on stock feed and other essential supplies,” Mr Bray said.

“The island has seen a reduction of more than 75 percent in the amount of freight arriving, while the cost of many products that are available more than double the price of mainland Australia due to a complex arrangement that requires them to be shipped to Auckland before they can be forwarded to Norfolk Island.

“There are very few appropriate vessels capable of delivering break bulk cargo to remote locations, but the retirement of the Aurora Australis provides a unique opportunity for the Australian Government to acquire a ship that is perfectly suited to Norfolk Island’s unique needs," he said.

“Now that it has returned from Macquarie Island, the Aurora should be immediately acquired with the initial task of undertaking a series of supply runs to Norfolk Island to rectify the critical shortages that are crippling the island’s economy and causing substantial hardship for residents.”

Mr Bray said the government acquisition of the Aurora Australis would not only provide a lifeline to Norfolk Island and other remote island territories, it would also allow the creation of a maritime emergency response capacity following natural disasters.

“For less than $10 million dollars, the Australian Government could purchase the Aurora, undertake maintenance and minor modifications, and have it in action as an emergency response vessel ahead of the next bushfire season,” he said.

“The Aurora could respond when natural disasters such as bushfires, cyclones and floods isolate or devastate coastal communities, arriving with fuel, food, fresh water, and a functional hospital.

“Specialist emergency vessels usually come with eye-watering price tags, but the Aurora provides a unique opportunity to acquire a vessel perfectly suited to this role, with proven capability and reliability, at a fraction of the cost.

“The Aurora is able to deliver essential supplies in challenging conditions to some of the most remote locations on earth. It is simply too valuable a vessel to lose from the Australian coastline.”

ends

  • Created on .

Consumers warned about scams involving the newly-announced early-release super measures.

THE Australian Institute of Superannuation Trustees (AIST) is aware that unscrupulous operators have already begun targeting super fund members and offering to assist them in taking up the new early release super measures announced last Sunday.

The new measures – part of the Federal Government’s Coronavirus economic support package – allow qualifying individuals suffering financial hardship to access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21.

AIST CEO Eva Scheerlinck said everybody needed to be on their guard if they receive unsolicited calls about their superannuation.

“Unfortunately, as we’ve seen before with any early release super measure, there are unscrupulous operators who take advantage of people in financial hardship either through outright fraud in an attempt to steal their super or by offering unnecessary services for which a fee is charged,” Ms Scheerlinck said.

“The ATO is managing the new early-release process though its MyGov website. There is no need to involve a third party and there are no fees involved.”

“Nor is there a need to panic and rush through an application. Anyone who is considering applying for early release superannuation under the new financial hardship provisions should be aware the scheme does not commence until mid-April.”

Ms Scheerlinck suggested that, in the interim, those who were planning to apply through MyGov for early release should firstly ensure their personal details were up to date by visiting their super fund’s website.

AIST is urging people suffering financial hardship to explore all the various Government income-support measures available before accessing their superannuation through an early release measure, which should be a last resort.

Any suspicious behaviour relating to superannuation can be reported to Australian Securities & Investments Commission (ASIC) through its online complaint form.

ends

  • Created on .