THE Australian Retailers Association (ARA) strongly oppose the NSW Gift Card Reforms as the proposed regulation by NSW Fair Trading will significantly disadvantage consumers, hurt small businesses and place NSW at a competitive disadvantage to other states. 

The ARA on behalf of the NSW Business Chamber (NSWBC), Australian Sporting Goods Association (ASGA), Franchise Council of Australia (FCA), Pharmacy Guild of Australia (PGA), and Restaurant and Catering Australia (RCA) all disapprove of the proposed reforms to NSW gift cards as previous Federal inquiries into the operation of gift cards have found no associated consumer benefit to altering the regulations.

ARA Executive Director, Russell Zimmerman, said the ARA along with the above industry groups are concerned that members and the business community were not properly notified of these reforms and believes implementing any changes without consultation to key stakeholders is concerning. 

“Introducing a three-year minimum expiry limit for gift cards within New South Wales places an unnecessary regulatory burden and significant additional administrative costs on small, medium and large businesses,” Mr Zimmerman said.

“It is unreasonable to expect small retailers and family businesses to amend their administrative practices and incur extra liabilities on their books simply to respond to unnecessary regulation.”

The ARA are highly concerned these reforms will also create jurisdictional and competitive issues for small businesses in New South Wales. 

“Gift cards are issued to consumers free of charge, with the majority used within their first 12 months. Increasing red tape and imposing conflicting rules on gift cards from retailers who operate across the nation will simply not work,” Mr Zimmerman said.

“This will restrict trade and competition between New South Wales and other states, and there is no means of monitoring the use of gift cards across borders.”

Given the issues of consistency, the extra administrative burden on small business, and the lack of engagement with stakeholders, the ARA call upon the NSW Government to abandon these unnecessary regulations, which will serve to hurt consumers and small businesses alike.

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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SMALL business owners across Australia are encouraged to take part in Stay Smart Online Week by taking simple steps to ensure that they don’t fall victim to cyber criminals.  

THE House of Representatives Standing Committee on Economics is conducting further public hearings with Australia’s four major banks in October as part of its ongoing scrutiny. On 11 October 2017 in Canberra the committee will hear from Westpac and ANZ banks.

The committee’s First Report was published in November 2016, following on from the initial public hearings in October 2016. The committee affirmed the ten Recommendations of its November Report in April 2017 following on from the further public hearings held in March of this year. In the May Budget, the Government broadly adopted nine of the committee’s ten Recommendations.

Recommendations adopted by the Government relating to the banking sector include a one-stop-shop for consumer complaints, a regulated executive accountability regime, and new powers and resources for the ACCC in investigating competition issues in the setting of interest rates.

The committee’s mandate from the Government to review the banking sector is ongoing. The Chair of the committee, Mr David Coleman, MP, stated that ‘these hearings provide an important mechanism to hold the four major banks to account before the Parliament.’

Public hearing details: 

Wednesday, 11 October 2017

Main Committee Room, Parliament House, Canberra

Westpac—9.15am to 12.15pm
Mr Brian Hartzer, CEO
Mr Peter King, Chief Financial Officer

ANZ—1.15pm to 4.15pm
Mr Shayne Elliott, CEO
Mr Graham Hodges, Deputy CEO
Ms Alexis George, Group Executive, Wealth Australia

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

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BENDIGO will host the first of a series of public hearings this week, as the Select Committee on Regional Development and Decentralisation heads to Victoria and Tasmania.

Launceston and Burnie in Tasmania, and Wodonga, on the border of New South Wales and Victoria, will also host public hearings.

The Chair of the Committee, Dr John McVeigh MP said, “these public hearings will provide the Committee with some good opportunities to engage with local communities in regional Australia. The Committee is keen to hear from the diverse range of witnesses to better inform ourselves of the issues impacting regional communities, and what can be done to address them.

“Each regional and rural community in Australia is unique, with localised issues. The Committee has heard that what works well for these communities is local, tailored strategies. We are hoping to hear more about the local strategies being adopted by the communities of Bendigo, Launceston, Burnie, Albury and Wodonga,” said Dr McVeigh.

Dr McVeigh indicated that witnesses across the four public hearings will include business and communities leaders, universities and TAFEs, community advocacy groups, healthcare providers, and regional development specialists.

The hearing will be broadcast live at aph.gov.au/live and a transcript will be available on the Committee’s website.

Public hearing details: 

Bendigo

Time: 9.00am – 3.20pm (click to listen live)
Date: Monday 9 October 2017
Location: Bendigo Town Hall (Reception Room), 189-193 Hargreaves St, Bendigo Vic

Launceston

Time: 9.00am – 2.20pm (click to listen live)
Date: Tuesday 10 October 2017
Location: Hotel Grand Chancellor (Chancellor 6) 29 Cameron St, Launceston Tasmania

 
Burnie

Time: 8.30am – 12.15pm (click to listen live)
Date: Wednesday 11 October 2017
Location: University of Tasmania, Domestic Arts Building (103 Lecture Room) 8 Bass Hwy, Parklands Tasmania

Wodonga

Time: 8.30am – 4.00pm (click to listen live)
Date: Thursday 12 October 2017
Location: 158 Lawrence Street, Wodonga TAFEspace, Strategic Planning Room, Wodonga, Victoria

For the full programs of these public hearings, see the Committee’s website.

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

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