Business News Releases

ACCC approves ARA amendments to pop-up code

THE Australian Retailers Association (ARA) welcomes the announcement from the Australian Competition and Consumer Commission (ACCC) to re-authorise an amended Casual Mall Licensing Code of Practice (Code) today. The Code in its current form has led to a number of issues for retailers and the unfair introduction of external competitors to shopping centres across the country.

The ARA’s long running campaign to change the Code has resulted in a victory for retailers battling against unscrupulous landlords. The ARA sought to make changes to the Code’s dispute resolution process, as well as the Code Administration Committee, which has been ineffective at administering and maintaining the Code over the last five years.

The ongoing issues with the Code have led to the unreasonable introduction of external competitors to shopping centres, especially at peak periods, which is hurting retailers and disrupting their businesses.

Russell Zimmerman, ARA Executive Director, said the ACCC had delivered a win for retailers just before Christmas, the busiest time of the year for the industry.

“The news couldn’t come soon enough for retailers, who have endured skyrocketing rents and a barrage of pop-up shops right outside their stores at some of the busiest times of the year,” Mr Zimmerman said.

“We now have a mandate from the ACCC to push ahead with making the necessary changes to the Code to ensure it is fair for everyone concerned.”

The ARA would like to thank the Australian Sporting Goods Association (ASGA), Franchise Council of Australia (FCA) and Pharmacy Guild of Australia (PGA) for their ongoing support in amending the current Code.

Mr Zimmerman said he was quite stunned to see the National Retailers Association (NRA) abandon retailers in favour of their landlord friends at the Shopping Centre Council of Australia (SCCA).

“It was astounding to see the NRA standing on the side of unfair competition and supporting the standover tactics of landlords when it comes to pop-up shops,” Mr Zimmerman said.

“The ACCC have had to drag landlord advocates like the NRA to the adult’s table this Christmas. However, these efforts have not gone unnoticed as shopping centres will no longer be able to introduce unfair competition, or bully their tenants into submission when they make a reasonable request.”

The FCA and PGA will now join the ARA on the CAC, ensuring a fair and balanced approach to casual mall leasing.

“The ARA will continue to seek fairness across the tenancy space for retailers and will ask the ACCC for regulatory intervention if the current issues are not addressed,” Mr Zimmerman said

“The proof of the pudding will be in the eating. All parties to the Code need to work together to address its issues, and ensure it operates in the interests of fairness for retailers across the board.”

To view the ARA’s submission to the ACCC, please click here.

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $310 billion sector, which employs more than 1.2 million people. The ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

ends

  • Created on .

IPA pre-Budget submission 2018-19

THE Institute of Public Accountants (IPA) has issued its pre-Budget 2018/19 submission to Government with key recommendations around holistic tax reform; state-backed loan guarantee schemes; publicly supported venture capital funding; investment in innovation; and legislating payment times to benefit small business.

“The IPA continues to put the case forward for major tax reform which has been a pill too hard to swallow for the major political parties,” said IPA chief executive officer, Andrew Conway.

“We are calling on the Government to deliver the much promised and almost forgotten tax reform white paper to take a long term view and encourage genuine public debate on tax reform.

“One of the main considerations is a rebalancing of the tax mix.

“We are also asking the Government to introduce a state-backed loan guarantee scheme to help increase the availability of much-needed affordable loan finance to the small business sector. 

“In addition, we are recommending that the Government introduce a publicly supported venture capital (VC) fund in order to encourage the private sector to follow the Government’s lead in boosting the entrepreneurial culture. 

“We also believe that the Government’s National Innovation and Science Agenda can be furthered by encouraging innovation policy to support innovative small to medium enterprises in Australia,” said Mr Conway.

Further information on the IPA’s recommendations can be found at http://bit.ly/2BU30Jm

publicaccountants.org.au

ends

  • Created on .

Coal delivers again for the budget

THE Queensland Resources Council (QRC) today called for the State Government to stand-up for the resources sector and to acknowledge coal’s fiscal value to the state budget and the thousands of coal workers who help deliver the royalties.

QRC Chief Executive Ian Macfarlane said the Mid-Year Financial Economic Review (MYFER) yet again showed resources, especially coal, underpin the budget.

“Coal royalties are expected to reach $414 million above the 2017-18 budget forecast or $3.16 billion forecast over the financial year. Revenues from all resources including coal, gas and metals not only pay the wages of teachers, nurses and police they build the schools, hospitals and police stations,” Mr Macfarlane said.

“The extra coal royalties alone would pay for the North Queensland Stadium ($250 million), four schools such as the new state school at Caloundra South (4 x $34 million) and three police stations in the regions (3 x $8.3 million).

“For the second year in a row resources have delivered an early Christmas present for the government and all Queenslanders. When the resources sector is doing well, the entire Queensland economy benefits.

"The sector continues to be a mainstay of employment and economic growth in Queensland, ensuring that every Queenslander benefits from this great industry."

Last financial year the sector generated $55.1 billion in economic prosperity for the state and achieved this contribution while using only 0.1 per cent of Queensland’s land mass.

www.qrc.org.au

ends

  • Created on .

New SMSF auditor registration fee out of this world

THE proposed increase in registration fees for new auditors of self-managed superannuation funds (SMSF) appears to be excessive according to the Institute of Public Accountants (IPA). 

“A one-off fee increase from $107 to $3,429 is exorbitant.  Even more unfathomable is that an auditor exiting the sector will be hit with a deregistration fee of $899,” said IPA chief executive officer, Andrew Conway.

“The ATO currently already collects $259 from each SMSF to finance the SMSF monitoring role the ATO conducts on behalf of ASIC.

“This levy was a mere $45 in 2008 but now equates to approximately $142.5M (550,000 SMSFs multiplied by $259) to monitor the sector including SMSF auditors.

“In 2011/12, the Government provided ASIC with $10.7M over five years, to develop and maintain an online registration system for auditors of SMSFs.  ASIC also developed a competency exam for auditors, enabling ASIC to deregister non-compliant auditors.

“The Government also gave the ATO $10.6 million over five years to police registered auditors, check their compliance with competency standards set by ASIC and where necessary, refer non-compliant auditors to ASIC for appropriate punishment.

“Some of the funding for the SMSF auditor registration process was also sourced by ASIC charging auditors to sit the SMSF auditor competency exam.

“Surely, the fee increases under the proposed fees-for-service funding model must take into account the money already being collected via the ATO supervisory levy.

“While we understand the objectives of the new funding model and the role of ASIC, we have a major concern over the impact these fees will have on competition, especially when there has already been a decline in the number of SMSF auditors in a market which is being dominated by the major players.

“SMSF auditors, who are members of one of the three professional accounting bodies, such as the IPA, are already well regulated in our co-regulatory system, which requires them to maintain their professional and ethical standards.

“We are calling on the Government to reconsider the proposed fee increases which will deter new entrants from entering the market,” said Mr Conway.

publicaccountants.org.au

ends

  • Created on .

Australian industry opportunities for future submarines

MINISTER for Defence Industry, Christopher Pyne MP, has announced Naval Group has released expressions of interest and requests for information to help get Australian industry involved in Australia’s Future Submarines.

Mr Pyne said Naval Group was seeking Australian industry ‘know how’ as the $50 billion Future Submarine Program continued to gather momentum.

“The Turnbull Government is committed to a sovereign naval shipbuilding capability and this includes 12 regionally superior submarines for our Navy,” Mr Pyne said.

“These submarines will be built in Australia, by Australians, which will maximise local industry involvement in all phases of the program."

So far around 130 companies have been pre-qualified by Naval Group to be part of the program. 

“Naval Group continues to support the Turnbull Government in this endeavour and is looking to Australian industry to manufacture and supply critical equipment and other common technologies for the submarines," Mr Pyne said.

“Opportunities exist for Australian industry to provide everything from electrical, mechanical, heating and air conditioning equipment, to castings, steel and titanium products.

“This is part of a wider suite of activities aimed at collecting information on industry’s capability to supply products and technologies required to manufacture and sustain the Future Submarines in Australia.

“These are the first major equipment information requests released by Naval Group, with more scheduled for release progressively throughout 2018, and complemented by the continuation of industry briefing days.

“Australian industry involvement in the Future Submarine Program is expected to generate an annual average of around 2,800 jobs over the life of the Program,” Mr Pyne said.

Companies wanting to know more about the program or respond to Naval Group’s request can visit the Future Submarine Industry Capability Network Gateway:

https://gateway.icn.org.au/project/3915/naval-group-future-submarine

The deadline for interested companies is January 5, 2018.

ends

  • Created on .

Contact Us

 

PO Box 2144
MANSFIELD QLD 4122