THE Institute of Public Accountants (IPA) has welcomed the appointment of Michael Sukkar MP to the position of Assistant Minister to the Treasurer.
“Mr Sukkar will bring a great level of knowledge and experience to the role of Assistant Minister to the Treasurer given his professional background as an accomplished tax lawyer and demonstrated commitment to small business,” said IPA chief executive officer, Andrew Conway.
“We look forward to working with Michael to ensure the issues of smaller businesses and vital role that public accountants play in our community are at the forefront of policy considerations,” Mr Conway said.
About the Institute of Public Accountants
The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies. In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than 35,000 members and students in over 80 countries. The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants. The IPA was recognised in 2012 as Australia’s most innovative accounting organisation and listed in the top 20 in the 2012 BRW Most Innovative Companies List.
APPLICATIONS for the Horizon Scholarship are now open to first-year university students studying agriculture-related degrees.
The Horizon Scholarship, an initiative of the Rural Industries Research & Development Corporation (RIRDC) in partnership with industry sponsors, provides $5,000 per year for the duration of a student’s university degree. Applications close on Friday, 24 February 2017.
The Horizon Scholarship also offers students annual industry work placements, access to industry leaders, professional development assistance, and opportunities to network and gain knowledge at a range of industry events.
RIRDC’s Managing Director John Harvey said the Horizon Scholarship provides real and practical benefits for the students involved and as a result will differentiate them from their peers.
“The students involved in the Horizon Scholarship are expanding their networks and learning new skills. Combined with easing the financial burden on students and families, the Scholarship is opening doors for these future agricultural leaders,” Mr Harvey said.
"The Scholarship attracts students who are collaborative, dynamic, passionate and want to be future leaders of Australia’s agricultural industries - it is special group of young people and we look forward to welcoming more of them into the Scholarship in 2017.”
To be eligible for the Horizon Scholarship students must be entering their first year of university and studying a degree related to agriculture, such as agricultural science, rural science, livestock/animal science, veterinary science or agribusiness and plant science. Students must also have started their tertiary studies no longer than two years after leaving high school.
Scholarship recipients will be selected on the basis of their commitment to a career in agriculture, as well as their leadership potential and high school academic record.
Applications close on Friday, 24 February 2017 and shortlisted applicants must be available for a telephone interview in March 2017. The Scholarship winners will be announced in May 2017.
Application forms can be downloaded from the RIRDC website at www.rirdc.gov.au/horizon or by contacting RIRDC on 02 6923 6900.
Sponsors of the Horizon Scholarship are the Australian Egg Corporation, ANZ, the Cotton Research and Development Corporation, the Grains Research and Development Corporation, Horticulture Innovation Australia Limited, McCaughey Memorial Institute, Meat & Livestock Australia, Sugar Research Australia, and RIRDC (Rice and Chicken Meat research programs).
SMALL business payment terms, times and practices are in the spotlight thanks to an inquiry of the Australian Small Business and Family Enterprise Ombudsman, Small Business Minister Michael McCormack says.
“In the six months I have been Australia’s Small Business Minister, I have travelled the country listening to the concerns, ideas and feedback from as many small businesses as I can,” Mr McCormack said.
“It’s clear small business owners and operators have concerns with payment terms, times and practices, which is why I applaud the Ombudsman on her inquiry.”
The first self-initiated inquiry of the Ombudsman since the Turnbull-Joyce Government established the watchdog in March 2016, Kate Carnell’s inquiry follows her nation-wide consultation on issues affecting small business during 2016.
“From Australia’s largest cities to its smallest towns and villages, small businesses tell me cash-flow is king. With the Ombudsman seeking on-the-ground feedback from Australia’s 2.1 million small businesses, now is the time to get involved and have your say,” Mr McCormack said.
The Ombudsman will also seek input from State and Territory Governments and Authorities, State Small Business Commissioners, the Council of Small Businesses Australia and the Australian Institute of Credit Management, as well as businesses large and small.
The Ombudsman’s survey is open until the end of February 2017 and can be accessed at The Australian Small Business and Family Enterprise Ombudsman website. Written submissions or comments close on 13 January 2017 and can be emailed to This email address is being protected from spambots. You need JavaScript enabled to view it..
The Ombudsman will present her report to Minister McCormack in March 2017.
THE Australia Council for the Arts has today announced a $5.8 million investment through its October project grant round.
This will support 184 projects, including $3 million for 141 individuals and groups, and $2.8 million for 43 small-to-medium organisations.
Australia Council for the Arts Chief Executive Officer Tony Grybowski said the round included the highest number of successful multi-art form applications under the new model, and a continued commitment to a large proportion of the investment going to individual artists, in recognition that the Council is the lead Commonwealth funder of this part of the sector.
“We received 1,373 applications from across Australia, and the 128 peer assessors had another impressive group of diverse projects to assess in an increasingly competitive funding environment,” Mr Grybowski said.
“With ‘arts in daily life’ as one of our strategic goals, I’m particularly pleased that 31% of the successful applicants had audience engagement, and access and participation in the arts as the primary outcomes of their projects.
“It was encouraging to see that 19% of successful applicants were based in regional and remote areas; more than half of grant funding to individuals went to female artists; and multi-art form grant funding has hit a five-round high, all of which continue the trend in fostering diversity, strength and vibrancy of the arts across Australia,” Mr Grybowski said.
The rigorous assessment process which underpins this program draws on the diverse experience and deep knowledge of expert peers from across the national arts sector. In this round, 19% of peer assessors identified as being culturally and linguistically diverse, 18% identified as being Aboriginal and/or Torres Strait Islander people, and 20% were from regional or remote Australia.
January 2017 also marks the beginning of the Four Year Funding program, with $28 million invested annually in 128 small to medium companies who represent all state, territories and areas of practice.
A full list of the grants outcomes can be found on the Australia Council for the Arts grants register. Applications are now open for the first round of grant funding for 2017 and close on Tuesday 7 February for projects starting after 1 May 2017.
THE Institute of Public Accountants (IPA) has voiced its support for the passing of the proposed Misuse of Market Power Bill.
“To date, the misuse of market power provision has not adequately protected small business, and by extension consumers, from the predatory actions of companies with substantial market power,” said IPA chief executive officer, Andrew Conway.
“Australia’s concentrated market structure means that some markets are not competitive and, where collective bargaining is not possible or sufficiently expeditious, small or medium sized businesses are especially vulnerable to exploitation or exclusion by firms with substantial market power.
“The IPA has continued to advocate for an ‘effects test’ to be introduced. So we are pleased that the Bill is consistent with the Harper Review in relation to misuse of market power and importantly, provides that a corporation with substantial market power must not engage in conduct having the purpose or likely effect of substantially lessening competition in that or any other market.
“The most significant deficiency with the current test is that, through narrow judicial interpretation of the phrase ‘take advantage’, it does not catch conduct by firms with market power, when the same conduct could have been carried out by a firm without market power.
“This fails to recognise that conduct capable of being engaged in by firms without market power has a greater propensity to foreclose the market and produce economic harm when it is engaged in by firms with market power.
“The proposed s46(1) in the Misuse of Market Power Bill is significantly more convoluted than that proposed in the Harper Report. This has resulted from attempts to define, in some detail, the market or markets in which the substantial lessening of competition must occur.
“In particular, it specifies that the substantial lessening of competition must occur in the market in which substantial market power is held, or any other market in which it, or a related body corporate, supplies or acquires goods or services.
“The IPA believes this amendment to be unfortunate and that it unnecessarily complicates the law. However, as it is not envisaged that this change will significantly diminish the scope of the provision, it does not alter the IPA’s support for the Bill.
“The Harper Report recommendation corrects the two key deficiencies in the existing legislation by removing the ‘take advantage’ element; and, expanding the focus of the provision to capture conduct having the effect of substantially lessening competition in a market.
“The proposed changes to section 46 as reflected in the Bill, represent a sensible and long overdue improvement to Australia’s misuse of market power laws. Importantly, the shift of the focus to competition rather than competitors will help ensure that unilateral conduct by firms with market power cannot be permitted whether its design or effect is to substantially lessen competition,” said Mr Conway.
About the Institute of Public Accountants
The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies. In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than 35,000 members and students in over 80 countries. The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants. The IPA was recognised in 2012 as Australia’s most innovative accounting organisation and listed in the top 20 in the 2012 BRW Most Innovative Companies List.
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