THE Business Council of Co-operatives and Mutuals (BCCM) today congratulated the Minister for Agriculture, Barnaby Joyce, on his unopposed election to leader of the Nationals and on becoming Deputy Prime Minister elect.

Commenting on the leadership change, BCCM CEO, Melina Morrison said, “I wish to congratulate Minister Joyce on the Nationals leadership and elevation to the office of Deputy Prime Minister. As Minister for Agriculture, Mr Joyce has been very supportive of the co-operative sector and we hope this great work will continue in this new capacity.”

In July, the federal government announced a $13.8 million package to help farmers form co-operatives, as a key measure in the White Paper on Agricultural Competitiveness. A two-year pilot programme will provide farmers with information and training on co-operatives and collective business models aimed at getting better returns to the farm gate and reinvestment on farm.

“The Council is looking forward to the roll out of this programme to improve access to information on co-operatives so that farmers can get better returns up and down the supply chain. I am sure in his new role, the Deputy Prime Minister elect will continue to champion the sector.”

“The role of co-operatives and mutuals in supporting strong, regional economies is recognised by the Nationals support of other initiatives aimed at enabling the growth of the sector, including the current Senate inquiry into co-operatives, mutuals and members owned firms co-proposed by Victorian Nationals Senator, Bridget McKenzie and South Australian Independent Senator Nick Xenophon,” concluded Ms Morrison.

www.bccm.coop

The Business Council of Co-operatives and Mutuals (BCCM) is the national peak body representing the co-operative and mutual models of enterprise in Australia. Formed in 2013, the BCCM is led by the chief executives of Australia’s leading co-operative and mutual businesses and is the only organisation uniting the entire, diverse range of member owned business. 

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THE Australian Retailers Association (ARA) has commended Federal Treasurer, Scott Morrison, on draft laws introduced to Parliament this week to close the loophole which sees digital purchases, including e-books, music, and content streaming services escape tax if purchased from online overseas operators.

The ARA has lead the campaign on tangible and intangible GST collection changes, securing a major victory in August, with confirmation of the removal of the $1000 tax-free threshold on purchases from international retailers from July 2017.

ARA Executive Director, Russell Zimmerman, said the planned changes are necessary to bring purchases of digital goods in line with physical goods from 2017, and will put a stop to the advantage online overseas retailers now enjoy over Australian businesses.

“Mr Morrison’s proposal to close the GST loophole that has seen international online operators given a leg up over local Australian players is the final frontier in our fight to maintain a fair an equal business environment for Australian retailers,” said Mr Zimmerman.

If the proposed legislation is passed in Parliament, intangible items such as games, music, e-books, video and other content streaming purchased from international e-commerce entities will be subject to the same tax as Australian sold physical or digital goods. The laws would be expected to come into effect from July 2017.

“The issue of international online retailers escaping the payment of taxes has been a huge concern for Australian retailers, and the ARA is overjoyed to see that the Government is finally taking action. If passed, this legislation will finally offer Aussie companies a level playing field on intangible items, with the Government committed to fixing the GST on physical items.

“This change will have the added benefit of funnelling around $350 million in extra revenue into our States and Territories, which can be used to fund crucial services such as teachers, police, and doctors. We hope to see the quick passing of the laws in Parliament and the swift implementation of this sensible law.”

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s more than $300 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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AUSTRALIA’s national resource industry employer group, AMMA, pays tribute to Warren Truss and Andrew Robb, two leading political figures who have made a valuable contribution to the resource industry and to the nation.

Warren Truss:

Mr Truss has delivered wide ranging and consistent leadership for the Australian people both as the member for Wide Bay, and across ministerial and shadow ministerial portfolios encompassing infrastructure, transport, trade, regions, agriculture, border protection and community services.

Mr Truss has delivered a significant foundation for the ongoing growth and success of the Australian resource industry, particularly through his work to improve productive infrastructure, deliver more effective logistics, and open up new international trade opportunities.

His legacy of achievements provides important foundations for Australia’s successful resources production and exports, and will do so long into the future.

Andrew Robb:

AMMA shares the Prime Minister’s assessment that Andrew Robb has been the most successful trade minister in Australia’s history.

The China, Japan and South Korea free trade agreements secured under his leadership and relentless hard work have opened up significant new opportunities for Australia’s resources producers to satisfy the commodity demands of a rising middle class in Asia.

By eliminating tariffs, fast tracking access to international markets and supporting our competitive position in the growing Asia Pacific region, these agreements will play an invaluable role in underpinning the next phase of resources investment and expansion.

The recent signing of the Transpacific Partnership – encompassing 12 nations accounting for 40% of global GDP – is another great milestone in Mr Robb’s distinguished parliamentary career which will further promote investment in Australia’s resource sector and open doors for local exporters.

AMMA also congratulates Mr Robb for his leadership on mental illness. His openness and advocacy have played a very important role in starting to destigmatise mental illness and ease the way for critical conversations and growing awareness that is helping people throughout the resource industry and the broader community.

www.amma.org.au

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THE Institute of Public Accountants (IPA) has continued its support of the small business sector through its 2016 pre-Budget submission to the Government.

“The IPA’s submission puts forward a number of key policy recommendations, focusing particularly on the key pillars required for a more productive and dynamic small business sector,” said IPA chief executive officer, Andrew Conway.

“However, the recommendations within the submission are presented against the background of a looming economic downturn.

“Our Australian Small Business White Paper published in late 2015 shows that after more than two decades of prosperity driven by booming prices for mineral exports, Australia now faces the real prospect of a sustained fall in living standards.

“Apart from a deteriorating federal budget, the core of the nation’s economic problem is its failure to lift business productivity for much of the past 15 years.

“Sadly, this means that Australia’s businesses collectively are barely more efficient than they were at the start of this century.

“This situation must be arrested now if we are to continue to enjoy the standard of living we enjoy today.

“To this end, we are hopeful that the Government will take serious consideration of our key recommendations which include a loan guarantee scheme, venture capital funding, building an innovation system, boosting skills and human capital, and the need for robust tax reform,” said Mr Conway.

For more information on the IPA’s pre-Budget submission go to http://bit.ly/1PVGJX7

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 with more than 35,000 members and students in over 65 countries.  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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