Skip to main content

Business News Releases

Small businesses reminded to get Single Touch Payroll ready

THE Australian Small Business and Family Enterprise Ombudsman Kate Carnell has reminded small businesses they have until September 30 to adopt Single Touch Payroll (STP).

Small businesses with 19 employees or less are required to make the transition to STP by the deadline in two weeks.

STP became mandatory for small employers on July 1 this year, with the Australian Taxation Office allowing a three month grace period for businesses to transition to the new digital system.

“It’s encouraging to see the number of small businesses reporting through STP has more than tripled during this transition phase, from around 100,000 to 350,000,” Ms Carnell said.

“However there are many small businesses that have not yet made the move and they really need to.

“For those small businesses that need more time, they can apply for a deferral or work with their tax or BAS agent to report quarterly, if eligible.”

For more information about Single Touch Payroll visit ato.gov.au/stp

  • Created on .

Public hearing on nuclear energy

NUCLEAR security and non-proliferation issues will be discussed in the latest public hearings of the House of Representatives Standing Committee on the Environment and Energy inquiry into the prerequisites for nuclear energy in Australia.

Chair of the Committee Ted O’Brien MP said representatives from the Department of Foreign Affairs and Trade and the Australian Safeguards and Non-Proliferation Office will attend the hearing to be held today in Canberra.

"The issue of nuclear security is one of the key questions to be answered by the inquiry," Mr O’Brien said.

“We want to hear from the experts on what is one of the crucial issues for any investigation into the possible future use of nuclear energy in Australia.

“It’s important to determine not just whether nuclear energy stacks up economically and technologically but also that it is suitable for Australia on environmental, safety and security grounds.”

Public hearing details

Date: Wednesday, 18 September 2019
Time: 10:15am to 11am
Location: Committee Room 2R2, Parliament House, Canberra

10:15am: Department of Foreign Affairs and Trade (DFAT); Australian Safeguards and Non-Proliferation Office (ASNO)
11:00am: Close

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

The Committee intends to hold public hearings at various locations, which will be announced in due course on the inquiry website:  https://www.aph.gov.au/nuclearpower.

Further information about the inquiry can be found at https://www.aph.gov.au/nuclearpower or contact the Secretariat on (02) 6277 4580 or at This email address is being protected from spambots. You need JavaScript enabled to view it..

ends

  • Created on .

Byerwen coal mine opening good news for Queensland exports, jobs and royalties - QRC

THE OPENING of the Byerwen coal mine in North Queensland is testament to the strength and diversity of the state's mining sector, Queensland Resources Council (QRC) Chief executive Ian Macfarlane said today.

Mr Macfarlane today attended the official opening of the mine in the Bowen Basin, which will produce up to 10 million tonnes of coking coal each year. The mine is a joint venture between QCoal Group and JFE Steel.

“This is a milestone not only for QCoal Group, but for all Queenslanders," Mr Macfarlane said.

"Every new mining job in Queensland leads to at least another four jobs in associated industries and adds to the budget bottom line for every Queenslander.

"Mines are part of the local community and during both construction and operations QCoal Group has kept track of its local spending and employment," he said.

“Almost half of the spend during construction was in Queensland and in operations more than three quarters of the spend is in our state.  More than half of the workers currently at the mine are from the Isaac, Whitsunday and Mackay regions.

"The high-quality coal mined here will be exported to Japan, Europe, India and South East Asia, further strengthening Queensland's reputation as a world-leading supplier of coking coal that is essential for building modern cities and supplying day-to-day essentials.

"Each tonne of coal exported also delivers returns for all Queenslanders through royalty taxes that pay for schools, roads, hospitals and public transport.

"Queensland's resources industry benefits all of us, from the workers at the mine site, to regional communities and down to the South East corner," Mr Macfarlane said.

"The Byerwen coal mine has a potential life of more than 50 years, which means a long-term pipeline of jobs and investment in North and Central Queensland."

About 1000 people were employed during construction and the mine will have a permanent workforce of more than 500 people during operations.

The Queensland resources industry already supports more than 316,000 jobs across the State, earns 80 percent of Queensland's exports and generates more than $5 billion in royalties for the Queensland Government to reinvest into services and infrastructure for all Queenslanders, according to the QRC.

www.qrc.org.au

ends

  • Created on .

ATO: Property developer’s house of cards condemned

A 65-year-old property developer from Glen Waverley was sentenced yesterday in the County Court of Victoria to six years and nine months in jail for tax fraud.

Allan Dalton was convicted of obtaining and attempting to claim nearly half a million dollars in Goods and Services Tax (GST) refunds. Mr Dalton was brought on as a property developer and accountant by the directors of Greenhills Grange Pty Ltd (Greenhills), to assist with the completion of the first phase of a project to build 12 residential townhouses.

The project had run into financial difficulties and Mr Dalton convinced the directors that he had extensive experience in property development and accounting and would be able to get the project back on track. Having no prior experience in the property development industry or as an accountant, Mr Dalton sought the services of an external accountant to lodge business activity statements (BAS) on behalf of Greenhills.

Between March 2010 and June 2011, 16 false activity statements were lodged on behalf of Greenhills. Mr Dalton overstated the expenditure of Greenhills to obtain $479,714.84 in GST refunds. During this period, Greenhills was only entitled to $52,500 in GST refunds. The refund was subsequently transferred to Mr Dalton’s personal bank account and other bank accounts for which Mr Dalton was a signatory.

Mr Dalton was given a reparation order for $479,714.84, the full amount that he illegally obtained.

Mr Dalton was convicted of knowingly providing false information to his accountant to commit tax fraud for his own personal financial gain.

ATO acting assistant commissioner David Mendoza welcomed the sentence handed down and said it was commensurate with the seriousness of Mr Dalton’s crimes.

“Mr Dalton deliberately engaged with an external accountant and knowingly provided false information to him to obtain a personal financial advantage," Mr Mendoza said.

“As this case demonstrates, if you provide false information to your advisor you are breaking the law. We will hold you accountable and you will be pursued through the criminal judicial system,” Mr Mendoza said.

Reports can be made to the ATO anonymously at ato.gov.au/tipoff

ends

  • Created on .

BHP report highlights resources sector’s contribution to all Queenslanders - QRC

THE Queensland Resources Council has welcomed BHP’s annual economic contribution report highlighting its increased payments to the Queensland Government last financial year totalled $1.24 billion or $100 million every month.

QRC chief executive Ian Macfarlane said the report showed the company’s payments, including royalties, from its coal operations to the Queensland Government had increased by more than $100 million last financial year based on the current US dollar-Australian dollar exchange rate.

“These payments to the Queensland Government can be reinvested in services and infrastructure for all Queenslanders,” he said. 

“For instance, a $1.24 billion payment to the Queensland Government pays for all the budget capital works projects in Queensland hospital and health facilities ($1.22 billion). That means better hospital care and health facilities for Queenslanders no matter where they live."

Mr Macfarlane said this contribution did not include the multi-million-dollar injection from BHP in the form of wages, purchases from suppliers and contributions to local councils across Queensland.

“The QRC produces an annual contribution from the resources sector.  In 2017-18, the QRC study showed the resources sector contributed $62.9 billion to the Queensland economy, making $19.5 billion in purchases, paying $5.2 billion in wages and returning $4.3 billion in royalties to the State Government.

QRC will update its State-wide economic contribution report for 2018-19 in November.

Link to the 2017-18 QRC economic contribution report summary https://www.qrc.org.au/wp-content/uploads/2018/11/QueenslandStory2018_final.pdf  

Link to the BHP 2019 economic contribution report https://www.bhp.com/-/media/documents/investors/annual-reports/2019/bhpeconomiccontributionreport2019.pdf?la=en 

ends

  • Created on .