Business News Releases

Company tax rate cut under the microscope at Melbourne Economic Forum

TAX REFORM options, including the proposed cut in the company tax rate, personal tax cuts and incentives for innovation will be the focus at the next Melbourne Economic Forum at Victoria University.

The forum, to be held at the University’s City campus on Wednesday, follows the success of the December forum which closely examined various tax reform proposals, including payroll tax reform as an alternative to increasing the GST rate.

Dr Janine Dixon, senior research fellow at the Centre of Policy Studies at Victoria University, will deliver a modelling assessment on the impacts of a company tax cut in Australia.

She joins a panel of leading economic and tax experts who will take a closer look at Tax Reform in the hope of shedding new light on this national issue, and informing policy.

Speakers include:

  • Professor John Daley, chief executive officer, Grattan Institute on the assessment of recent tax proposals and the politics of tax reform 
  • Professor John Freebairn, from the Department of Economics at the University of Melbourne on the small business investment incentive effects of personal tax cuts 
  • Professor Beth Webster, the director at the Centre for Transformative Innovation at Swinburne University on tax policy and innovation.

Professor Peter Dawkins, Vice-Chancellor and President at Victoria University and Professor Ross Garnaut, Professorial Research Fellow in Economics at University of Melbourne will also speak.

The Melbourne Economic Forum is a joint collaboration between Victoria University and the University of Melbourne. It is run in association with the Australian Financial Review.

What:  Melbourne Economic Forum: Tax Reform
When:  Wednesday 13 April
Time: 11am to 2pm
Where:  Victoria University:  Conference Centre, level 12, 300 Flinders Street, Melbourne

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Retail penalty rates debate nears conclusion - ARA

THE FINAL week of hearings in the Fair Work Commission (FWC) has kicked off today with the Australian Retailers Association (ARA) confident the evidence it has put forward in the case demonstrates that current Sunday penalty rates under the General Retail Industry Award 2010 (GRIA) are costing jobs and impeding growth in the retail sector.

The ARA and the retail industry has been engaged in a review of GRIA for the past 18 months, with the view to reducing the costs for retailers who trade on Sundays, proposing a reduction in Sunday penalties from the current double time (100 percent) to time and half (50 percent).

ARA Executive Director, Russell Zimmerman, says a reduction in Sunday penalty rates will have a number of benefits for the community and economy, in addition to cost reductions for retail businesses.

“Should Sunday penalties be cut, retailers will be able to afford to employ more staff for more hours. With youth unemployment rates at an all time high, and retail being one of Australia’s largest private employers, this change will enable businesses to employ more staff, helping to reduce unemployment levels, particularly in the sector of under 25s,” said Mr Zimmerman.

“Retail employees cite shortage of staff as one of the most significant negative aspects of Sunday work - a direct consequence of the high penalty rates in place under the current GRIA. A reduction in Sunday penalty rates will allow retail employers to be able to provide more labour hours to retail employees who would like to work on Sundays.

“More staff employed for further hours will lead to more money in the pockets of these workers, increasing their spending power and fostering a stronger economy overall.”

Independent research commissioned by the retail industry demonstrates retail employees are prepared to work on Sundays for a lower penalty rate, with most retail workers indicating that their willingness to work on Sundays changes very little whether they are paid at double time or time and a half.

In December, the Productivity Commission’s (PC) final report on Workplace Relations Framework recommended that given changes to Australian lifestyles, Sunday rates should be brought into line with those of Saturday penalty rates - 25 percent, or time and a quarter.

"It is important to note that the ARA does not advocate for the removal of penalty rates, simply a reduction of the current Sunday penalty rate of double time and a half.

“The ARA and our legal teams believe the FWC is in the best position to make a decision on this important issue for the retail industry, and we are hopeful for a successful outcome,” said Mr Zimmerman.

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $293 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 5,000 independent and national retail members throughout Australia.

For more information, visit www.retail.org.au or call 1300 368 041.

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Ten days left for Australian innovators to enter the 2016 iAwards

Canberra, 8 April 2016 – Australian innovators still have 10 days remaining to enter the iAwards – Australia’s premier awards programme recognising  home-grown innovation.

The deadline for nominations has now been extended to 18 April 2016 as newly appointed CEO of the Australian Information Industry Association (AIIA), Rob Fitzpatrick, brings a renewed focus to building a strong network of business mentors to support this year’s finalists.

“The iAwards is not just about winning. Its greatest benefit is in offering individuals and businesses an opportunity to develop and communicate their brand identity, strength in innovation and competitive advantage in their given fields.”

With 10 days remaining, the 2016 iAwards has seen a 20 percent increase in nominations across ten industry sectors, against this time last year.

“The iAwards is an ideal showcase for Australian visionaries who want to demonstrate their best innovations and innovative projects. I’m delighted to see students, governments and large corporates all put their hats in the ring to compete – all the name of celebrating great ideas.”

The iAwards is hosted by the AIIA, a non-profit organisation run by members for members driving innovation in technology.

To nominate, visit: https://www.iawards.com.au/nominate.

About the iAwards:

The iAwards honours innovators from corporate, research, academia, students, government and start-ups. The key goal of the iAwards’ is to discover, recognise and reward innovations that have the potential to, or are already having, a positive impact on the community – at home, in the office and on a global scale.

http://www.iawards.com.au/

Join the conversation:
One of the great things about the iAwards is that they get people talking about Digital Innovation. Take advantage of the hype by joining the conversation on Twitter, liking us on Facebook, staying in touch with LinkedIn or following us on Pinterest.

@theiAwards / #iAwards

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Resource industry supports abolition of the Road Safety Remuneration Tribunal

THE Road Transport Remuneration Tribunal (RSRT) should be consigned to history as a misguided and flawed experiment before permanent damage is done to owner-drivers and the wider transport sector, says resource industry employer AMMA.

“Australia’s resource employers welcome today’s announcement that the Turnbull government will, if reelected, abolish the RSRT. This tribunal was setup only to pander to former Prime Minister Julia Gillard’s mates in the Transport Workers Union (TWU),” says executive director, policy and public affairs Scott Barklamb.

“While safety is the absolute priority in both the resources and transport sectors, the RSRT would have no effect but to force current self-employed owner-drivers into the unemployment queue to the benefit of company-employed drivers and the TWU.

"Conflating OHS matters with industrial relations tribunals is rarely helpful. If further resources need to be put into OHS in the road transport industry, this should be through existing safety regulars and should accompany a return to mainstream IR regulation by the Fair Work Commission.”

Mr Barklamb also notes that Australia relies on an effective, competitive road transport industry, including both employed drivers and owner drivers, operating at competitive and sustainable prices in an effective market for transporting goods.

“The significant contribution of owner-drivers in the trucking industry is critical to both the supply and distribution of Australia’s resource operations, as well as the regional and remote communities in which we operate,” he continues.

"It is clear this damaging regulation seriously endangers the jobs, livelihoods and assets of swathes of working Australians, particularly those who have chosen to be self-employed and support their families through owning and operating their own trucks.

“We need our lawmakers to have the courage to admit when they have got it wrong, and the courage to put things right.

“Labor and the Greens should join the government in a unity ticket to abolish the RSRT as a matter of urgency and return to a situation where award minimum wages apply, as they did for more than a century, and safety is again be dealt with by OHS regulators.”

www.amma.org.au

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QRC on Coal Mine Workers’ Health Scheme

THE Queensland Resources Council (QRC) says it is keen to work with all stakeholders in progressing the interim findings released today as part of the state government’s review of the respiratory component of the Coal Mine Workers’ Health Scheme. 

"As anticipated, the review initiated by the Minister for Natural Resources and Mines, Dr Anthony Lynham, has released an interim report identifying enhanced medical assessment practices to further protect the health of our workforce," Queensland Resources Council acting chief executive, Greg Lane said.

"The health and safety of workers is a top priority and the resources sector is committed to maintaining compliance with the Coal Mine Workers’ Health Scheme.

"The resources sector has co-operated fully with the review process and in support of the Minister’s five-point action plan announced earlier this year," Mr Lane said.

"Industry remains committed to implementing the recommendations of Professor Sim and his team of experts, in a timely matter."

www.qrc.org.au

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