WITH the Australian Retailers Association (ARA) and Roy Morgan Research predicting Australians to spend more than $50 billion over the Christmas trading period from November 15 to December 24, 2017, the ARA believe toy retailers will be as busy as elves this Christmas.

With the ARA and Roy Morgan Research tipping Australian consumers to spend 2.8% more on Christmas compared to last year, ARA Executive Director, Russell Zimmerman said it’s a busy time for toy retailers across the country.

“Keeping up with hottest-selling toys for kids at Christmas is like keeping up with digital technology in the retail landscape… both retailers and consumers need to be prepared,” Mr Zimmerman said.

“With many new toys hitting the shelves this year, parents need to start their shopping early to ensure they can get the toy at the top of their children’s wish list.”

“Likewise retailers need to be prepared for the onslaught of parents trying to secure the perfect gift for their children.”

With the ARA and Roy Morgan Research predicting Aussies to increase their spending in the ‘Other retailing’ category by 3.96%, the ARA have worked with Toys“R”Us to identify the Top 20 Toys for kids this Christmas.

“It appears Hatchimals continue to outperform retailer’s expectations as they completely sold out last year, so we urge retailers to be prepared for a similar toy rush this pre-Christmas period,” Mr Zimmerman said.

New to the toy scene, LEGO Boost Creative Toolbox is one of the most sought-after interactive toys in the tech space this year. This innovative creation targeted for boys aged 7+, enhances the building and learning experience for boys by not only building the robot but also coding its behaviour.

“Gone are the days when we used to fly model planes, it seems LEGO Boost is now a must have for tech savvy youngsters this Christmas,” Mr Zimmerman said.

“Just like retail, Christmas is all about the consumer experience, and for girls aged 3+ this year’s highly sought-after toys include LOL Dolls and Pikmi Pops as they provide the ultimate unwrapping experience this silly season.”

With many Australian children on Santa’s nice list this year, the ARA expect both retailers and Santa’s elves to be extremely busy over the next few weeks.

To view the ARA and Roy Morgan’s Annual Pre-Christmas Sales Predictions for 2017 please click here. And for more information regarding the Top Toys this Christmas please click here.

ARA ROY MORGAN PRE-CHRISTMAS SALES PREDICTIONS 2017

November 15 – December 24, 2017

2017 Pre-Christmas Sales Growth by Category

[ARA / ROY MORGAN]

2017 Pre-Christmas Sales Growth by State

[ARA / ROY MORGAN]

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.

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WITH just five weeks left in 2017, the Tax Practitioners Board (TPB) has revealed approximately 9500 tax and financial advisers still need to apply to renew their registration by January 1, 2018.
 
Chair of the TPB, Ian Taylor warned that time is running out for advisers to renew their registration with the TPB and that they will put their business at risk if they fail to renew on time.

"Like most Australians, these 9500 tax and financial advisers will be looking forward to a break over the Christmas and New Year period. Don’t put your business at risk – make sure renewing your registration is on the top of your to do list before you go on leave," Mr Taylor urged.

"If advisers fail to renew their registration they can no longer provide advice services for a fee or reward. They will also need to lodge a new application and cannot provide services until the new application is decided," Mr Taylor warned.

So long as tax and financial advisers submit their renewal application on time, they remain registered until the TPB makes a decision on their application. Mr Taylor encouraged advisers to take immediate action to make sure they are ready to renew:

• make sure they have updated their email address and mobile number (for SMS messages) on My Profile so they don’t miss important renewal information
• register for the TPB’s final free webinar for the year – Top Tips for renewing with the TPB to be delivered 5 December 
• ensure they have had their completed statement of relevant experience verified by appropriate persons before they apply
• the TPB’s frequently asked questions for tax (financial) advisers will assist with registration questions.

www.tpb.gov.au/financialadvisers


About the Tax Practitioners Board:
The Tax Practitioners Board 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. Follow us on Twitter @TPB_gov_au and LinkedIn

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THE Australian Small Business and Family Enterprise Ombudsman today released a study into factors impacting small to medium enterprise investment.

Speaking at the Institute of Public Accountants national conference on the Gold Coast, Ombudsman Kate Carnell said barriers to investment included access to capital, red tape and energy prices.

Ms Carnell said removing barriers to investment would give small businesses confidence to grow and boost jobs.

Despite recent claims by bank executives that lending to small firms is booming, Ms Carnell said this wasn’t the case for borrowers who don’t have equity in property.

“Traditional bank loans are backed by real property mortgages and although alternatives are emerging, they are not currently mature and affordable,” she said.

“Young aspiring small business operators are particularly disadvantaged and increasingly rely on their parents to provide seed finance.”

Ms Carnell said this meant the “Bank of Mum and Dad” was often called on to help young entrepreneurs.

“This offers convenience and flexibility, but it puts people’s retirement savings at risk,” she said.

“It also raises social equity issues in that the children of affluent parents have greater opportunities to buy and grow businesses.”

Ms Carnell said a government-backed guarantee scheme could be the answer, similar to the British Business Bank.

The Ombudsman’s study also takes aim at red tape, saying past reduction efforts have largely been “window dressing”.

Ms Carnell said a successful pilot in Parramatta to make compliance requirements seamless should be extended to other areas.

“It was found there were more than 50 pieces of regulation which applied to setting up a hospitality business in Parramatta and the regulation meant it took up to 18 months to commence trading,” she said.

“Regulation wasn’t removed, but was instead sped up and made invisible. Information provided once was used to automatically complete forms in other areas of bureaucracy.

“This is a smart way of using systems and technology to relieve regulatory burdens on business.”

The ASBFEO paper is available for download.

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THE Parliament’s Northern Australia Committee will visit Christmas Island and the Cocos (Keeling) Islands from Saturday 27 January to Thursday 1 February 2018 to hold public hearings as part of its Inquiry into Opportunities and Methods for Stimulating the Tourism Industry in Northern Australia.

The Committee Chair, Warren Entsch MP said ecotourism is becoming increasingly popular with Australian and international visitors and the potential is there to develop existing tourism operations and create new experiences on the Indian Ocean Territories.

“Christmas Island and the Cocos (Keeling) Islands have recently been voted as having some of the best beaches in Australia, with their pristine coral reefs, and largely untouched national parks,” Mr Entsch said.

“Increasing tourism to the islands has the potential to also boost jobs and create a positive impact on the local economy,” he said.

Draft Public Hearing Programs:
Monday, 29 January 2018: Christmas Island Court House, 8.30am to 3.30pm.
Tuesday, 30 January 2018: West Island, Cocos Club, 1pm to 3.30pm.
Wednesday, 31 January 2018: Home Island, Council Chamber, Shire Offices, 8.30am to 12.30pm.

The Committee is interested in hearing from a range of tourism stakeholders. These times are indicative only and may be shortened or lengthened depending on community interest.

People wanting to participate in the inquiry can contact the Committee secretariat by telephone on 02 6277 4162 or by email to This email address is being protected from spambots. You need JavaScript enabled to view it. as soon as possible, and no later than 19 December 2017.

For more information about the Committee’s inquiry, including the hearing program, submissions and terms of reference visit the committee website.

Interested members of the public may wish to track the committee via the website. 

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