BARRIERS to growth for private sector small businesses, including government laws and regulations, excessive red tape and compliance costs will be on the agenda tomorrow for the first public hearing of the Standing Committee on Education and Employment’s inquiry into small business employment in Australia.

The Australian Small Business Commissioner, who represents small business interests and concerns to the Australian Government, will appear before the committee with the discussion aimed at identifying the key issues preventing small businesses from creating employment opportunities.

Committee Chair, Ewen Jones MP, emphasised the importance of supporting small business job creation.

“Small business makes up over ninety five per cent of all businesses in Australia. By supporting this large and important group in creating jobs we can help reduce unemployment and improve the lives of Australians,” he said.

“The committee is determined to find solutions for problems facing small businesses and looks forward to meeting with the Commissioner to identify what they might be.”

Details of the hearing are as follows:

Date: Wednesday 03 June 2015
Time: 11:20 am – 12:45 pm
Venue: Committee Room 1R4, Parliament House, Canberra

Submissions to this inquiry are also welcome. For further information, including the full terms of reference and how to prepare a submission, please visit the committee’s website at www.aph.gov.au/SmallBusinessEmployment or contact the secretariat on (02) 6277 4573.

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GOVERNMENT agencies need to have the power to disrupt illegal online services, according to the latest report by the House of Representatives Communications Committee.

The Committee examined the use of s.313 of the Telecommunications Act 1997 by government agencies in the disruption of illegal online services, including the widely-reported inadvertent blocking of 250,000 websites by ASIC in 2013.  The report recommends the adoption of guidelines for use by government agencies, which will include:

• the development of agency-specific internal policies consistent with the guidelines;
• clearly defined authorisations for website disruption at a senior level;
• defining activities subject to disruption;
• industry and stakeholder consultation;
• use of stop pages to identify the requesting agency, reason for disruption, agency contact, and avenue for review;
• public announcements, where appropriate;
• review and appeal processes; and
• reporting arrangements.

The Committee has recommended that all agencies using s.313 have the necessary level of technical expertise to carry out such activity, or procedures for drawing on the expertise of other agencies.

Committee Chairman Jane Prentice MP said one of the significant challenges faced by all governments is the need to balance the safety of the community with the rights of the individual.

“The internet has brought unprecedented opportunities—undoubtedly for the better.  But there are some in our community who would seek to use it for corrupt purposes,” Mrs Prentice said.

“How we deal with these threats is a question of balance. To do nothing is an abdication of duty; to go too far is to risk trampling on the rights and freedoms we seek to protect.

“The Committee believes it has struck the right balance.”

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

Further information: contact the Inquiry Secretary (02) 6277 2352, email This email address is being protected from spambots. You need JavaScript enabled to view it. or visit the Committee’s webpage.

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THE Tax and Revenue Committee today tabled its first report for its inquiry into the 2014 Australian Taxation Office (ATO) Annual Report.

The report outlines a range of topics including: the ATO’s relationship with taxpayers; the administration of the ATO; and compliance strategies. The report commends the ATO for its progress establishing its strategic direction and the steps it has taken, and continues to take, to ‘reinvent’ the client and staff experience to change the culture of the ATO.

Committee Chair, Bert van Manen MP, said that the ATO has made good progress towards achieving its goal of being valuable, relevant and trusted by the Australian people.

“I am particularly impressed with the ATO’s clear strategic direction and its commitment to meaningful performance indicators. A clear strategic direction and robust performance measurement and reporting are key elements of an efficient and transparent tax administration,” he said.

The committee commended the incorporation of modern technology into the ATO’s systems in its efforts to improve both the accuracy of tax information and the taxpayer experience. For example, the ATO is introducing Single Touch Payroll, Standard Business Reporting and no-touch tax returns. 

The Chair said that the taxation system relies on the Australian people’s trust that the system is fair and equitable.

“Non-compliance, such as demonstrated by those operating within the cash economy, robs the Australian people of much needed revenue. It also disadvantages honest and hard-working Australians who are doing the right thing. More must be done to tackle non-compliance,” Mr van Manen said.

The report listed a number of key areas that the committee will discuss at its next hearing for its second report into the 2014 ATO Annual report in late 2015.

The report can be found on the committee website: http://www.aph.gov.au/taxrev.

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The House Economics Committee has today tabled its second report on the Review of the Australian Prudential Regulation Authority Annual Report 2014. 

The Chair of the committee, Mr John Alexander OAM MP, said that although it was pleasing to learn from APRA that the Australian financial sector is showing overall stability, there is evidence of emerging risks in the housing market which must be carefully monitored.

"An increased scrutiny of mortgage portfolios is an appropriate response to this issue and we will be requesting updates from APRA in this regard at future hearings," Mr Alexander said.

In the superannuation industry, the management of conflicts of interest needs improvement and new and more detailed disclosure requirements are not yet fully implemented. APRA has given undertakings that it is continuing to oversee and promote better governance in this sector.

The prudential responsibilities of the Private Health Insurance Administration Council will be transferring to APRA in July of this year.  The committee is monitoring this transition with interest.

The outcomes of the recent Financial System Inquiry (FSI) and the current work of the Basel Committee may well impact future capital requirements for Australian banks. The committee will continue to discuss this with APRA at future hearings.

The next APRA hearing will be held on 23 October 2015 in Canberra.

The report is available on the committee’s website at: http://www.aph.gov.au/economics. 

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