THE Australian Small Business and Family Enterprise Ombudsman has welcomed a Senate vote to improve access to justice for small business.

Ombudsman Kate Carnell said the passing of Labor’s Competition and Consumer Legislation Amendment addressed a key finding from her Small Business Loans Inquiry.

“Access to justice is an important issue for small business operators,” Ms Carnell said.

“The Senate bill allows Federal Court judges to waive liability for adverse costs to small business private litigants in cases related to the misuse of market power.

“It gives small business operators confidence to proceed with legal action, knowing they will only be liable for their own costs.

“This has the added benefit of filtering cases that might potentially be considered vexatious or unlikely to succeed, saving time and money for all involved.”

www.asbfeo.gov.au

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THE Institute of Public Accountants (IPA) has acknowledged the ATO’s effort to reassure the public of its IT system reliability during tax time 2017.

“It is good to see the ATO proactively reassure the public that its IT systems are withstanding the pressure of the current busy tax return season,” said IPA chief executive officer, Andrew Conway.

“We look forward to the ATO continuing to maintain functionality of all their systems throughout the rest of tax time 2017.

“Our members have borne the brunt of past system issues over a protracted period.  They are very relieved that the ATO has been able to maintain functionality of all their systems during this important part of the tax season where the bulk of individuals are trying to finalise their tax return and bring closure to the year just ended.

"The proof will be in the pudding and let’s hope for all concerned, that things are back on track. We won't take a backwards step in holding the ATO accountable to deliver a reliable IT system for the benefit of tax practitioners and taxpayers alike,” said Mr Conway.

publicaccountants.org.au

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STRATEGIES to improve the liveability and sustainability of Australian capital cities and regional centres in the face of steady population growth will be discussed at a public hearing in Canberra tomorrow.

The Committee on Infrastructure, Transport and Cities has invited Commonwealth agencies, peak bodies and academics to share their ideas as part of its inquiry into the Australian Government’s role in the development of cities.

Committee Chair, Mr John Alexander OAM MP, said the Committee is interested in exploring some of the issues face by growing cities in more detail with a view to identifying innovative solutions.

“The Committee recognises the primacy of state, territory and local governments in the planning and operation of our cities,” Mr Alexander said.

“However, we’d like to explore opportunities for the Commonwealth Government to contribute to the development of our cities and regional centres, be that through the provision of leadership, reducing red tape or facilitating the development of new regional centres.”

The Housing Industry Association suggested that the Australian Government should lead planning policy reform, stating that “whilst the planning system is managed by the states and territories, the Australian Government can have a significant influence in the delivery of streamlined approval processes for new land and housing developments, encouraging greater standardisation of development assessment processes and codes across borders.”

The Australian Logistics Council also argued that the Australian Government should have greater involvement in planning. “This will help to deliver better economic outcomes and the more efficient and safe delivery of freight by easing urban encroachment and helping to protect corridors for later infrastructure investment.”

Further information on the inquiry, including the full terms of reference, is available on the Committee website.

Public hearing details: 9am – 12pm, Friday 11 August, Parliament House, Canberra

9.00 am – 9.40 am: Department of Infrastructure and Regional Development
9.40 am – 10.20 am: Master Builders Australia
10.40 am – 11.20 am: Australian Logistics Council
11.20 am – 12.00 noon: Housing Industry Association

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

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

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THE House of Representatives Standing Committee on Economics will hold a public hearing with the Governor of the Reserve Bank of Australia (RBA), in Melbourne from 9.30am to 12:30pm on Friday, 11 August 2017.

Since the previous hearing with the RBA in February 2017, monetary policy has remained accommodative with a cash rate of 1.50 percent.

In his August statement, the Governor noted the recent appreciation of the Australian dollar and said it is expected to ‘contribute to subdued price pressures in the economy.’ He remarked that ‘an appreciating exchange rate would be expected to result in a slower pick-up in economic activity and inflation than currently forecast.’

The Governor also noted that business conditions have improved, stating that ‘some pick-up in non-mining business investment is expected.’ The RBA forecasts that current high levels of residential construction will be maintained for some time, before slowly easing.

The Chair of the House Economics Committee Mr David Coleman MP said ‘the Committee will examine these issues in more detail and will question the RBA on whether current monetary policy settings are adequate for encouraging growth and inflation consistent with future targets.’

Public hearing details: 9:30am - 12:30pm, Friday 11 August, Melbourne Town Hall, Yarra Room,Corner of Collins and Swanston Streets, Melbourne

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

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

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