THE FEDERAL Government has welcomed the withdrawal of Chevron’s appeal to the High Court over the Australian Taxation Office’s assessment of $340 million in tax and penalties for interest payments made to related offshore parties.

THE House Agriculture and Water Resources Committee will travel this week to collect evidence for its inquiry into water use efficiency in Australian agriculture.

Committee chair, Rick Wilson MP, discussed the hearing program for the week:

“As the committee approaches the end of the evidence gathering phase of the inquiry, we will be travelling widely to hear from some key witnesses. Importantly, we will be hearing about some irrigation areas that lie outside the Murray Darling basin, specifically the Harvey Water area in Western Australia, and several areas in southern Victoria managed by Southern Rural Water.

Additionally, the committee looks forward to discussing water use efficiency with key academics from South Australia that have a deep interest in water management.

We will finish up in Melbourne with discussions on the role of technology, science and engineering in improving water use efficiency, and gain some input from organisations from north-east Victoria.”

Public hearing details:

Tuesday, 22 August, 11.15 am to 1.15pm, Harvey Town Hall, Harvey, Western Australia.

11.15am – 1.15pm: WA Government
12.00pm – 1.15pm: Harvey Water

Wednesday, 23 August, 1.00 pm to 3.30 pm, ‘Old Chamber’, Parliament of South Australia

1.00pm – 1.45pm: Professor Lin Crase
1.45pm – 2.30pm: Associate Professor David Paton AM
2.30pm – 3.30pm: Dr David Adamson, Dr Adam Loch, Assoc. Prof Sarah Wheeler and Prof Jeff Conner

Thursday, 24 August, 9.15 am to 3.45 pm, Committee Room G7, Parliament of Victoria

9.15am – 3.45pm: Witnesses to include water resource managers and a drip irrigation system manufacturer

A full program for each day is available on the inquiry website. 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 Trade and Investment Growth Committee has announced an inquiry into the trade system and the digital economy.

The World Economic Forum has identified that the digital economy has a central role in future trade policy. In Australia, like the rest of the world, the digital economy is challenging traditional business models and this inquiry will look at whether Australia’s trade system is meeting these contemporary needs.

Committee Chair Ken O’Dowd MP said “trade drives economic growth and the digital economy represents an important part of how business operates now and into the future. This inquiry will look at ways to ensure that Australia’s trade system can keep pace with our digital innovators.” He added, “we also need to ensure that our business sector is cyber-resilient so Australia can be leaders in this important area.”

The terms of reference for the inquiry are:

• the responsiveness of Australia’s trade architecture and regulatory system to the contemporary need of the digital economy and disruptive technology; and
• measures to improve the cyber-resilience of Australia’s trade-focussed business sector.

The Committee welcomes submissions from any individuals or businesses interested in trade and the digital economy. Submissions can be made by the Committee’s website before 12 October 2017. The Committee anticipates holding public hearings on the inquiry and advice will be provided on the website when these are scheduled.

Interested members of the public may wish to track the committee via www.aph.gov.au/jsctig. 

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THE Australian Retailers Association (ARA) have issued a submission to the Department of the Treasury’s Black Economy Taskforce regarding the retail industry’s leading role in fighting the black economy.

This Taskforce is focused on developing a strategy to uncover and stop the black economy in Australia by encouraging a move towards cash alternatives, improved policing and regulation. The current existence of the black economy undermines legitimate businesses in the retail sector.

The ARA’s Black Economy submission highlights the retail industry’s proactive role in tackling the black economy.

ARA Executive Director Russell Zimmerman said retailers across the country are using innovative and consumer friendly payment options to eradicate illegitimate and unfair business practices.

“We are extremely pleased to see the retail sector leading the way in tackling the black economy through innovation and proactive measures,” Mr Zimmerman said.

“The introduction of mobile payment systems, cashless payroll systems and electronic payment systems are all examples of how the retail industry has developed solutions to assist in eliminating illicit trade.”

The ARA called on the Black Economy Taskforce to embrace new technologies including mobile wallets and mobile payments to provide open access to retailers and consumers. 

“Greater participation in mobile wallets and mobile payments by merchants and service providers will lead to greater convenience for consumers while reducing under the counter transactions,” Mr Zimmerman said.

“These new payment technologies can provide a wide range of benefits which will significantly reduce black economy transactions and improve cashflow efficiencies for retailers.”

To view the ARA’s submission to the Department of the Treasury’s Black Economy Taskforce, 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 7,000 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

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