THE Australian Retailers Association (ARA) praises the South Australian (SA) Government’s decision to offer suburban retailers the opportunity to trade on Easter Monday.

Suburban retail stores operating across South Australia will now be able to open their doors from 11am to 5pm - if they elect to do so.

Russell Zimmerman, executive director of the ARA said the decision made by the SA Government, will grant retailers the chance to trade on Easter Monday and assist in leveling the competitive retail playing field.

“The decision made by the SA Government is fantastic news for local retailers who will now be able to trade on Easter Monday alongside their metropolitan and online counterparts,” Mr Zimmerman said.

“This will also provide consumers living in suburban areas with greater opportunities to shop in their local area if they desire and should deliver some much-needed relief to local retailers.”

As the retail industry is a $320 billion-dollar sector, employing over 1.3 million people across Australia, the ARA believes this decision will offer retail staff the choice to work on the Easter Monday.

“The Easter trading period is a busy time for retailers and employers will be looking to roster on or hire more retail staff to compensate for the increase in foot-traffic,” Mr Zimmerman said.

“The decision made by the SA Government will benefit retail staff, as they will have the option to work and earn extra wages if they would like to do so and make contributions to the local retail economy.”

After years of constrained trading hours, the SA Government last year welcomed the extension of Boxing Day trading hours following strong demand from retailers and shoppers, who wished to capitalise on one of the busiest trading days of the year.

The move now brings South Australia in alignment with every other State and Territory across Australia, and the ARA hopes this decision will influence the Government to revise existing trading restrictions.

“The recent outcome carried out by the SA Government is a bold stride in not only listening to the voice of retailers and consumers, but also in eradicating outdated restrictions towards trading hours,” Mr Zimmerman said.

“The ARA is delighted to see that the SA Government is a making positive step towards removing these archaic restrictions on trading hours and will continue to support the deregulation Bill through Parliament.”

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is Australia’s largest retail association, representing the country’s $320 billion-dollar sector, which employs more than 1.3 million people. As Australia’s leading retail peak industry body, the ARA is a strong pro-active advocate for Australian retail and works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,800 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

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AUSTRALIANS love a dark horse and Australian public company, NeuroScientific Biopharmaceuticals Ltd (NSB), is just that, leading the way against other much larger pharmaceuticals in finding a cure for Alzheimer's disease.

As featured in Nature, The Economist and the February 2019 issue of Fortune, Alzheimer’s research has pivoted towards a ‘radical new approach’ focused on the ‘survival’ of brain cells to combat degenerative neurological disease.

To NSB chairman, Brian Leedman’s knowledge, NSB is the only company in the world poised to commence human studies in this specific field of research. 

Mr Leedman said, “NSB’s novel approach to cell survival was considered ‘radical’ at the time of its public listing mid-last year, but now is likely to be considered mainstream by the scientific community. We’re moving into human trials this year, which is effectively light years ahead of the competition.”

According to the Australian Institute of Health and Welfare, in 2015 there were an estimated 342,800 people living with dementia in Australia. Alzheimer's disease is the most common type of dementia, an overall term for conditions that occur when the brain no longer functions properly.

An Access Economics report commissioned by Alzheimer’s Australia (AA) and published in March 2005, also projected that by 2050 - if no cure is found - the total number of Australians with dementia will be over 730,000, or 2.8 percent of the population. The costs are more than human too, with AA estimating dementia cost $8.8 billion in direct expenditure in 2016, and forecast it to rise to $16.7 billion by 2036.

NSB’s current main focus is the development of its leading drug candidate, EmtinB, towards clinical human trials, estimated to commence in Q3 of this calendar year. They are also looking to make their mark in the investment community to further their exciting research into effectively treating Alzheimer’s worldwide.

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AUSTRALIA's leading food rescue organisation, OzHarvest, is preparing a menu with a difference for their annual fundraiser, the CEO CookOff to be held on Monday, March 25 at Sydney’s Royal Hall of Industries.

The unique charity event brings together over 200 of Australia’s industry leaders and corporate teams with 50 top chefs to create and serve a gourmet dinner made with love, hope, generosity and new this year, six versions of the humble trifle made by a team of world famous dessert chefs. 

More than 1,400 special guests from charity agencies across Sydney will enjoy the gastronomical delights prepared by the likes of Matt Moran, Neil Perry AM, Guillaume Brahimi (Bistro Guillaume), Jacqui Challinor (Nomad), Manu Feildel (My Kitchen Rules) and Rob Cockerill (Bennelong). General David Hurley AC DSC (Ret'd), Governor of New South Wales and Mrs Hurley will join the kitchen action and guests will be entertained by a live performance from Aussie legend Daryl Braithwaite. 

This year OzHarvest founder and CEO, Ronni Kahn has set the stakes high for the business leaders, with a fundraising target of $3million which will provide six million meals to people in need.

“Thanks to the competitive nature of CEOs, OzHarvest has the perfect platform to raise crucial funds to keep our wheels turning and I’m thrilled that over $1million has been raised already,” said Ronni. “Food is a beautiful connector and this unique event allows people from all different backgrounds to come together, break bread and enjoy a night of real humanity, experiencing the magic of what matters.”

In addition to fuelling food rescue operations around the country, a long-standing partnership with BP ensures OzHarvest can bring this annual event to life. BP president Andy Holmes is handing over the spatula to Tanya Ghosn, general ,manager Castrol ANZ, who will be cooking up a storm in the kitchen on the night.

“This is our third year supporting this special event and, once again, the whole team across our BP and Castrol brands are energised to make a difference in the lives of those Australians who need it most. In 2019, as BP celebrates 100 years of operations in Australia, we are incredibly proud to continue our support of OzHarvest and their mission to Nourish our Country,” Andy.Holmes said.

Attending the event for the first time is 'mum of seven', Rikki from Lomandra School in Campbelltown, where she receives OzHarvest food regularly.

“I’ve never been to anything like this before. Just to eat a meal without sharing with my kids and have a night out with my husband alone is something I haven’t done in a very long time. I couldn’t get by without the food OzHarvest delivers to Lomandra, fresh fruit and veg just wouldn’t be a part of my kids diet as it’s so expensive,” Rikki. said.

Tabcorp Holdings and their CEO Adam Rytenskild are topping both fundraising leader boards with over $125,000 raised so far. Mr Rytenskild is closely followed by Adrian Coseneza from the Australian Orthopaedic Association, Peter Andrews from Andrews Meats and Michael Schai from Lindt and Sprungli. 

Other corporate teams battling it out for the top spots are Woolworths, Deliotte and PwC.

There is still time to sign up and anyone can donate to the cause https://www.ceocookoff.com.au/donate

About CEO CookOff:

• CEO CookOff is OzHarvest’s flagship fundraiser and has raised $9million since  2012
• The 2018 event broke all records raising a massive $2million providing four  million meals to those in need
• Event hosted by Larry Emdur, supported by ARN’s Yumi Stynes (Kiis FM), Mike E and Emma Lisboa (The Edge 96.ONE)
• 200 industry leaders and corporate teams feed over 1400 vulnerable people
• The dessert station is a new addition to this year’s CEO CookOff and was the brilliant idea of Colin Fassnidge, who has supported the event since the beginning. Six world-class dessert chefs will be creating their own take on the  home-made trifle. The dessert station is sponsored by Lindt.
• Supporting partners: Woolworths, Amplify Kombucha, Vittoria, NSW  Department of Family and Community Services

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THE Australian Taxation Office (ATO) is aware of the announcement by the Commonwealth Bank of Australia regarding their research and development (R&D) tax incentive disputes with the ATO and Innovation and Science Australia (ISA).

ISA has legislative oversight of the (R&D) tax incentive, which is administered jointly by the ATO and AusIndustry in the Department of Industry, Innovation and Science (DIIS).

Deputy Commissioner of Taxation Rebecca Saint said this is an important development in ensuring that the R&D Tax Incentive is working for innovative Australian businesses as it was designed.

“While we cannot comment on specific taxpayer-related matters due to confidentiality laws, this development sends a strong signal that digital transformation and software development costs do not automatically qualify for the R&D tax incentive," Ms Saint said.

“The ATO is committed to supporting innovation of Australian businesses, however, activities must meet strict legal criteria to qualify for the R&D tax incentive. Just because a project is large, expensive or risky does not mean it necessarily qualifies as R&D for the purposes of the tax incentive.

“The ATO and DIIS work together to ensure that the R&D tax incentive supports innovation activities of Australian businesses as intended. Our ongoing joint efforts in this area will ensure the continued strength of the program.

"We are continuing our joint focus on helping companies get their claims right by providing guidance, including flagging areas of concern and common mistakes," she said. "Companies and their advisors should consider how this guidance applies to their circumstances to be confident that their claims are correct."

DIIS has recently published guidance material on software activities and the R&D tax incentive. The guidance provides detailed information to assist taxpayers determine whether their software development activities are, or are not, eligible for the program and common errors.

“We encourage companies who are seeking greater certainty about their R&D tax incentive to seek advice from us and DIIS directly in relation to their specific facts and circumstances,” Ms Saint said.

She said companies should seek help from the agency that administers the aspect of the program that relates to the query. Further information on where to get help can be found on the ATO website.

Background

The R&D tax incentive encourages companies to engage in R&D benefiting Australia, by providing a tax offset for eligible R&D activities. Companies are responsible for self-assessing whether they, the activities they are conducting and the expenditure incurred for those activities meet the eligibility requirements of the R&D tax incentive.

The ATO and DIIS jointly administer the R&D tax incentive. DIIS is responsible for determining eligibility of R&D Tax Incentive registrations. The ATO determines whether or not the expenditure claimed as relating to those activities is sufficiently related to those activities to obtain the incentive.

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