THE Queensland Resources Council (QRC) said the decision by Glencore to close its Mount Isa Mines underground copper operations and Lady Loretta zinc mine was unfortunate, but understandable, and commended the company for its commitment to work with affected employees to find new opportunities.

Glencore will, according to the QRC, maintain a strong presence in the region through its copper smelter, George Fisher Mine, zinc-lead concentrator and lead smelter and Townsville copper refinery.

QRC chief executive Ian Macfarlane said the announcement highlighted the need for new resources investment in Queensland to develop new projects as major mines like this reach their end of life.

“The future success of the resources sector cannot be taken for granted by governments and we need policies that encourage investment in new Queensland resources projects as more mines reach their end of production in coming years,” Mr Macfarlane said.

“The Queensland Government needs to start listening to the many warnings about the threat to future investment as a result of its snap decision to impose the world’s highest coal royalty tax rates.

“In the current global economic climate, the State Government should be doing all it can to attract investment in new resources projects in Queensland.

“It’s time the Queensland Government started encouraging resources investment, which will support exploration and investment in new projects, rather than discouraging it with the world’s highest royalty taxes and endless approval processes,” Mr Macfarlane said.

“Queensland’s North West Minerals Province offers enormous potential for the resources sector with abundant reserves of many the critical minerals the world needs to develop the new technologies for a decarbonised future.

“That potential can only be fully reached with the backing of investors providing the billions of dollars to develop the projects that will provide future jobs and economic benefits for Queensland.

“Sudden Government policy changes and over-complicated red and green tape and regulation will do little to encourage investors when they have more attractive options in other states and countries.”

www.qrc.org.au

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The Tax Practitioners Board (TPB) terminated the registration of Queensland tax agent, Gary Turner and imposed the maximum five-year ban from reapplying for registration, claiming he "showed total disregard for the tax profession and the welfare of taxpayers when he allowed unregistered preparers to dodge the registration requirements".

The TPB statement alleged, "He did this by allowing the unregistered preparers to use his tax agent number and his access to the Australian Taxation Office via online services for agents, to provide tax agent services."

According tot he TPB, unregistered preparers, "who are often unqualified and poorly trained, operate outside of the law and pose a serious risk to taxpayers, the profession and the tax system. It is important for taxpayers to understand that if an unregistered preparer makes a mistake or submits a fraudulent tax return on their behalf, the taxpayer will be accountable for any liabilities and will have to pay any Australian Taxation Office penalties.

"It is also unlikely that an unregistered preparer will have appropriate professional indemnity insurance cover to compensate a taxpayer if they suffer a loss due to an error or omission that results from a service they provide."

TPB investigations found Mr Turner had breached several Code of Professional Conduct items. This included making false statements to the TPB to hide the fact he had not completed continuing professional education requirements (CPE). CPE is an important ongoing registration requirement that assists tax practitioners in maintaining the knowledge and skills relevant to the services they provide.

In addition, Mr Turner claimed that he met the relevant experience requirements for registration even though he had not. He also failed to provide adequate supervision for the tax agent services provided on his behalf.

Due to his serious failures and his repeated misconduct, it was determined Mr Turner was no longer a fit and proper person to be registered as a tax agent.

Chair of the TPB, Peter de Cure AM, is warning all tax practitioners that there are serious consequences for allowing people to use their registration number.

"Anyone providing tax agent services on your behalf must be supervised," Mr de Cure said. "We will not allow this unethical behaviour to go unpunished and will continue to protect the public and prioritise these serious breaches of law and trust."

Mr de Cure went on to say ‘Mr Turner’s conduct was serious and demonstrated dishonesty. His actions undermined the integrity of the tax profession and posed an unacceptable risk to the public."

As a part of the TPB’s new Client Support Program, the TPB will be contacting the clients of Gary Turner urging them to ensure their personal information is secure and, if required, to seek out the services of a registered tax or BAS agent.

This program has been developed by the TPB to assist and support the community by ensuring tax practitioner services are provided in accordance with appropriate standards of professional and ethical conduct. It provides support to clients that find themselves in a difficult situation after using the services of a high-risk tax practitioner. For help finding a registered tax or BAS agent, check the TPB Register.

About the Tax Practitioners Board

The TPB 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. Followon Twitter, LinkedInandFacebook.

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THE Joint Committee of Public Accounts and Audit (JCPAA) has tabled its report for its inquiry into the 2021–22 Annual Performance Statements audits by the Australian National Audit Office (ANAO).

The committee’s report focused on issues raised in the report, such as the impact of Machinery of Government changes, and the ANAO’s conduct of these audits, including the scheduling of these audits.  

Chair of the JCPAA, Julian Hill MP said, "Performance reporting may not be the most exciting of topics, but for public sector agencies charged with serious responsibilities and entrusted with spending billions of dollars wisely it really, really matters. Unlike financial reporting, which has been subject to ANAO audits for decades, performance reporting has been underdeveloped and under resourced.

“Plainly speaking, while Australians can trust the accounts of government departments as they are thoroughly audited, for too long the Parliament and the public have had no reliable way of knowing whether what agencies report in their performance statements is true or not. Do all those often mind-numbing KPIs and measures fairly represent what an agency does? Are there actually data sources underneath all the reports? Are they a fair measure of what’s been achieved, or did someone fudge the books?

“The ANAO’s 2021–22 Annual Performance Statements audits showed a clear improvement in the performance reporting and highlighted a number of key issues, such the lack of verifiable methodologies or supporting information for performance measures, as well as valuable examples of better practice," Mr Hill said.

The committee was concerned with the current need for performance statements audits to be requested by the Finance Minister before the ANAO can begin their work. This is an unnecessary process that can significantly delay these audits, and should be removed.”

The committee’s report makes four recommendations to improve the process and impact of performance statements audits.

The committee’s interim report and further information on the inquiry is available on the Committee website.

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THE Joint Standing Committee on Treaties (JSCOT) has tabled a report recommending the ratification of the Audiovisual Co-production Agreement between the Government of Australia and the Government of the Republic of India (Mumbai, March 10, 2023).

The Agreement provides a framework for Australia and India to cooperate on the approval and making of audiovisual productions which could include feature films, television, video recordings, animations, and digital format productions.

Committee Chair Josh Wilson MP said, "The committee’s scrutiny of this Agreement highlights that there is considerable value in Australia connecting and collaborating with the Indian film industry. The Agreement provides a valuable means for the two countries to share knowledge, skills, logistics and creative abilities.”

This would be the 14th co-production arrangement that Australia has entered into under Australia’s International Co-Production Program. The projects that are approved as official co-productions under the Agreement would be regarded as national productions of both Australia and India.

Mr Wilson said, “The Agreement would encourage employment in the screen industry, as well as technical development in the field of audiovisual production. It would also build on the existing, strong, and multifaceted relationship between Australia and India and benefit cultural exchange.”

The committee noted support for the Agreement from the government and representatives of the Australian-India film industry.

The committee supports ratification and recommends that binding treaty action be taken.

The report can be found on the Committee website, along with further information on the inquiry.

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