Business News Releases

Tax Office to explain its path to more efficient scrutiny

THE Australian Taxation Office (ATO) and Treasury will give evidence tomorrow to the House Tax Committee on options for more efficient scrutiny of the ATO.

The ATO’s scrutineers include the Auditor-General, the Inspector-General of Taxation, the Ombudsman, the Office of the Australian Information Commissioner, and parliamentary committees. Complaints about tax administration were transferred from the Ombudsman to the Inspector-General on 1 May 2015.

The Commissioner of Taxation, Mr Chris Jordan AO, has publicly stated that the ATO may be subject to excessive scrutiny and that its scrutineers could be more “forward looking”.

Mr Jordan has stated that, over the past five years, the ATO has undergone 51 reviews producing 6300 pages of reports and almost 350 recommendations.

At the hearing, the ATO is expected to outline its proposals for more efficient scrutiny that maintains confidence in the tax system.

Committee Chair Bert van Manen said, “The ATO is an important agency within government and needs to be scrutinised. However, innovation should be supported and agencies are under constant pressure to be more efficient. I look forward to discussing the ATO’s proposals with them.”

Public hearing program
4.10 pm to 5 pm
Wednesday, 16 March 2016
Committee Room 2R1
Parliament House, Canberra

Witnesses: ATO and Treasury

To watch the hearing: go to www.aph.gov.au/News_and_Events/Watch_Parliament.

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Role of 'smart ICT' in the design and planning of infrastructure

A MORE CO-ORDINATED and integrated approach to the development and application of smart ICT to infrastructure is one of the key recommendations to Government in a report released today by the House of Representatives Committee on Infrastructure, Transport and Cities.

Committee Chair, Mr John Alexander MP, said the report on the role of Smart ICT in the design and planning of infrastructure revealed Smart ICT has the capacity to transform the design, construction and management of infrastructure assets, the management and use of existing assets, and the operation of transport, communications, energy and utility systems.

“These technologies are transformational with the capacity to dramatically increase the productivity of the Australian economy,” Mr Alexander said.

“In order to achieve this, however, governments and industry must be aware of the potential of smart ICT, and must invest in the technologies, skills and systems to make the transformation a reality.”

The central recommendation of the report is the formation of a Smart Infrastructure Task Force—based on the UK model—to provide national coordination between governments, industry and researchers.

The Committee has also recommended that:

  • The Smart Infrastructure Task Force be given responsibility for the national coordination of protocols and standards relating to infrastructure data and the development of an objects library.
  • The National Archives of Australia be given the resources to oversee the development of a whole-of-government infrastructure data strategy.
  • Government gives greater recognition to the capacity of new technologies and systems to enhance the operation of emergency management and disaster planning and remediation.
  • Government recognizes public safety communications systems as critical infrastructure.

A copy of the report can be obtained from the committee’s website or from the secretariat on (02) 6277 2352.

The Committee’s webpage.

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QN Sales must put forward a real plan: Townsville

STATEMENT from Townsville Enterprise Chair Kevin Gill:

The continuing blame game and excuses put forward today are just not good enough.

QNI Resources Pty Ltd and QNI Metals Pty Ltd made the decision to take back control by appointing Queensland Nickel Sales and to revoke the authority of the Administrators.  QN Sales must therefore outline the actions it will be taking to employ personnel, obtain the necessary agreements and licences it needs and to secure ore supply to recommence operating.

It is time for QN Sales to step up and clearly explain to employees and the community what plans will be put in place for the future of the Yabulu nickel refinery.

"In addition, fast, decisive action by the Federal and State Governments, acting in a coordinated way, is what is needed now.

Together with the Chamber of Commerce and Region Councils Townsville Enterprise has presented both State and Federal Governments with projects that, with an injection of funds and more supportive policy settings, will create jobs, boost confidence and set the foundation for long term economic growth.

State Government

  • Announce an immediate boost to funding for the Integrated Stadium and Entertainment Centre ($100M already committed to a $380M project)
  • Expedite the mining lease for the Adani Carmichael Coal Mine and Rail project to start activity in the Galilee Basin
  • Fast track the Ergon/Energex merger and relocation to Townsville
  • Boost edutourism funding to take advantage of the development of a new export opportunity
  • Support the development of PNG and Auckland flights to boost tourism, trade and commerce
  • Fund the business case for the Townsville Eastern Access Rail Corridor

Federal Government

  • Match funding with the State Government to complete the $380M Integrated  Stadium and Entertainment Centre
    • Base the headquarters of the $5B Northern Australia Infrastructure Facility in Townsville – the   business centre of Northern Australia
      • Fund road and rail projects to improve supply chains for agribusiness, cattle and mining industries
    • Announce that the  Cooperative Research Centre for Developing Northern Australia will be headquartered in Townsville
    • Award funding from the $25M National Water Infrastructure Fund to Townsville Enterprise for feasibility studies into raising the Burdekin Dam and the new dam at Hells Gate

These projects are not new, Governments are well aware of their benefits and right now this region needs a shot in the arm of confidence and that will come, through action on these projects. - Kevin Gill.

orporate website   |   Destination website   |   Convention Bureau website

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On the right track: finding new ways to finance infrastructure

IDENTIFYING innovative funding and financing opportunities will be one of the issues canvassed by the government agency responsible for infrastructure when they appear before the inquiry into the role of transport connectivity on stimulating development and economic activity in Canberra on Tuesday.

Chair of the House of Representatives Infrastructure, Transport and Cities Committee, Mr John Alexander MP, said the Committee looked forward to hearing from the Department of Infrastructure and Regional Development, particularly on how value capture mechanisms can generate new partial funding streams.

“Funding and financing of infrastructure is an essential part of the planning process, particularly in its impact on transport connectivity,” Mr Alexander said.

“It is no longer possible for governments – state or federal – to be the sole funder of transport infrastructure and it is important to explore financing options for infrastructure that are more efficient and spread the cost fairly.

“By generating new partial funding streams through value capture, it could allow governments to deliver infrastructure projects ahead of schedule.”

Mr Alexander also said that in its submission, the Department of Infrastructure and Regional Development emphasised the need for an integrated land use and infrastructure planning approach, which the Committee looked forward to exploring in further detail.

Hearing details
Date: Tuesday, 15 March 2016
Time: 5.40 - 6.30 pm
Witnesses: Department of Infrastructure and Regional Development
Venue: Committee Room 1R3, Parliament House, Canberra
The public hearing will be webcast live at http://www.aph.gov.au/live

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ACCC to consult market on proposed undertakings from Iron Mountain

Iron Mountain is offering the court-enforceable undertaking pursuant to section 87B of the Competition and Consumer Act 2010 to address the competition concerns identified in the ACCC’s Statement of Issues published on 5 November 2015.

The Statement of Issues expressed the preliminary view that the proposed acquisition would be likely to substantially lessen competition in a national market for the supply of physical document management services.

A copy of the undertaking will be posted on the ACCC’s public register shortly: Iron Mountain Incorporated - proposed acquisition of Recall Holdings Limited

The ACCC invites comments from interested parties about the proposed undertaking, with the closing date for submissions being Monday 21 March 2016.

The ACCC will then decide whether or not to accept the undertaking.

The ACCC’s expected decision date is March 31, 2016.

The proposed acquisition is also being considered by competition authorities in the United States, United Kingdom and Canada.

Background

Iron Mountain is a global supplier of information management services, based in the United States. Recall is an Australian public company that is also a global supplier in the information management industry. In Australia, Iron Mountain has operations in every state and territory. Recall has a presence in every state and territory, except the Northern Territory.

www.accc.gov.au

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