Business News Releases

Superannuation choice should be open to all employees

STATEMENT by AMMA executive director, policy and public affairs, Scott Barklamb:

AUSTRALIA’s resource industry employer group, AMMA, welcomes proposed legislation to ensure unions cannot use enterprise agreements to stop Australian employees choosing which fund they want to direct their superannuation into. 

Unions regularly insist that enterprise bargaining agreements (EBAs) covering wages, leave and hours also compel employers to direct all employee superannuation contributions into an industry superannuation fund nominated by the union. 
 
Employees covered by these enterprise agreements are denied superannuation choice.  This means they cannot choose where to direct their retirement incomes, and are denied the full range of competing superannuation products.  It also stops employees consolidating their superannuation into a single account to reduce fees.
 
This includes employees who did not vote for the agreement and are not members of the union.
 
This is unacceptable. Union bosses, enjoying the support of just 11% of private sector employees, should not be able to decide where the superannuation of working Australians is directed and remove their right of choice – particularly not to force contributions into funds with union officials sitting on the board.
 
The vast majority of Australian employees, ranging from highly paid professionals to those on minimum wages, have the right to choose where to direct their superannuation, to choose between retail funds, industry funds and competing products, or to not exercise superannuation choice and stay in default arrangements.  
 
Most employees also have the right to consolidate their superannuation into a single fund of their choice.
 
It is not acceptable that unions be able to extinguish these choices for individual employees through collective agreements, and AMMA welcomes legislation to put this right.  
 
The Superannuation Legislation Amendment (Choice of Fund) Bill 2016 was introduced into the House of Representatives by Assistant Treasurer Kelly O’Dwyer on 17 March 2016.

www.amma.org.au

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Future Industries Fund provides $20m in grants for key growth sectors

THE Victorian Chamber of Commerce and Industry Chief Executive Mark Stone said the chamber supports today’s announcement by the Victorian Government of a $20 million Sector Growth Program to support economic growth and job creation in identified priority growth sectors.

The Program will provide up to $1 million in matched funding for projects that strengthen industry capability, pilot new technologies and invest in innovative infrastructure.

$100,000 grants are available for scoping, planning and feasibility studies that explore sector opportunities to strengthen market pathways, boost industry capability and increase supply chain efficiency.

Applications for either stream of funding must be submitted on behalf of a consortium of organisations that include at least one Victorian small to medium sized enterprise (SME).

The co-contribution grants will encourage investment and business expansion in the identified priority growth sectors of medical technologies and pharmaceuticals, new energy technologies, food and fibre, transport, defence and construction technologies, international education and professional services.

Accompanying today’s funding announcement is the release of individual strategies to grow these priority sectors. Each strategy contains specific actions that the government will take to strengthen investment, improve university and business collaboration, create jobs and drive new opportunities in local and international markets.  

The Victorian Chamber has played an active role in contributing to the development of the Future Industries Sector Strategies and looks forward to continuing to work with the Victorian Government to ensure their successful implementation.

Further details of the Future Industries Sector Growth Program can be found on the Business Victoria website.

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Regional access to news and the arts up for discussion at Melbourne hearing

ARTS and broadcasting groups will address the House of Representatives Standing Committee on Communications and the Arts next week in Melbourne for its inquiry into broadcasting, online content and live production to rural and regional Australia.

Committee Chairman the Hon Bronwyn Bishop MP said the Committee will build on the valuable evidence already received at its hearings in Sydney and Canberra, when it hears from groups in Melbourne. It looks forward to learning from the perspectives that these groups will provide based on their Victorian and broader regional experience in arts and media matters.

“The Committee believes that while rural and regional Australians face a number of challenges, they should not have to compromise on access to reliable news services and emergency broadcasts, and to quality arts performances. These services are vital to these communities where almost a third of Australians live,” Mrs Bishop said.

Public hearing details
Date: Tuesday, 22 March 2016
Time: 10.00am to 3.15pm
Location: Parliament of Victoria, Room G3
55 St Andrews Place, East Melbourne, Victoria
Live webcast (audio only)

Hearing program:
10.00am - Live Performance Australia (Submission 25)
10.45am - Regional Arts Victoria (Submission 1)
11.30am - Australian National Theatre Live (Submission 52)
12.00pm - Lunch break
12.30pm - ACE Radio (Submission 15)
1.00pm - Deakin University (Submission 19)
1.30pm - Australian Children’s Television Foundation (Submission 29)
2.00pm - National and State Libraries Australasia (Submission 38)
2.30pm - Screen Australia
3.15pm - Finish

For further background information, including programs for the hearing and copies of submissions, please visit the Committee website www.aph.gov.au/communications

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Victorian tourism businesses call for proposed backpacker tax to be abandoned

THE Victoria Tourism Industry Council (VTIC) welcomes the announced review of the proposed backpacker tax and hopes this will see an end to this policy that will stifle Victorian tourism growth.
 
Under the Federal Government plan as announced in the 2015-16 budget, from 1 July 2016 the tax-free threshold (currently $18,200) for working holiday makers will be removed and their earnings will be subjected to a 32.5 per cent tax rate from the first dollar earned.
 
“Tourism businesses have been opposed to this plan from the start as it will deter backpackers from visiting and working in Australia,” said VTIC Acting Chief Executive Erin Joyce.
 
“Backpackers are a valuable source of labour for Victorian tourism businesses, particularly in the hospitality sector which relies on the involvement of a transient workforce to meet seasonal market demands. Victorian tourism operators are facing a shortage of more than 30,000 workers over the next five years, so the government must do what it can to grow our workforce.
 
“Hitting travellers with this tax would make us a less desirable place to visit and work and damage our strong standing in the highly-competitive international tourism arena.
 
“We look forward to presenting our stance to the Federal Government’s review of this proposal on behalf of Victorian tourism operators.”
 
International backpackers contribute over $600 million to the state’s economy, and over $3 billion nationally, and represent more than one in 10 international overnight visitors to Victoria.

The Victoria Tourism Industry Council (VTIC) is the peak body for Victoria’s tourism and events industry, providing one united industry voice.

Tourism and events are growth industries for Victoria and contribute more than $20 billion to the state economy each year and employ more than 200,000 people.

vtic.com.au

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Latest anti-dumping decisions support local steel industry

IN A MAJOR WIN win for local steel makers the Australian Government will today implement anti-circumvention measures against foreign steel importers who have been avoiding anti-dumping duties by slightly modifying their products.

Making the announcement today of duties payable in excess of $4 million, Minister for Industry, Innovation and Science Christopher Pyne said the decisions would prevent certain steel exporters in China, Taiwan and Malaysia making minor changes to their products to circumvent existing anti-dumping measures.

“Australian steelmakers need to be able to benefit from free and fair trade,” Mr Pyne said.

“When foreign suppliers try to get around Australian anti-dumping duties, in this case by substituting selected steel products with alloyed for unalloyed steel, this Government is committed to action.

“We are a world leader in fighting the avoidance, or circumvention, of anti-dumping measures.

“The Australian Government will continue to work to give Australia’s Anti-Dumping Commissioner the power and capabilities he needs to ensure that local producers are not injured by unfair competition.”

Assistant Minister for Science Karen Andrews was proud to be part of Australia’s effective and equitable anti-dumping process.

“Our system is fair and transparent in providing support for Australian manufacturers.”

Across the two types of goods, the duties for alloyed galvanised steel will range from 2.6% to 62.9% and for alloyed Hollow Structural Sections from 3% to 57.1%.

Information on the decisions can be found at http://www.adcommission.gov.au/Pages/default.aspx

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