Business News Releases

First public hearings for family violence inquiry

THE House Standing Committee on Social Policy and Legal Affairs is commencing public hearings for its inquiry into family, domestic and sexual violence, with the first two hearings to take place on September 7 and 8.

On Monday September 7, the Committee will hear from government agencies, research institutes and other organisations about the experience of family violence in the Australian community and the policies and programs in place to respond to it and reduce its prevalence.

On Tuesday September 8, the Committee will further discuss these issues with various bodies including legal sector and service provider organisations, as well as focusing on technology-facilitated abuse with the eSafety Commissioner.

Chair of the Committee, Andrew Wallace MP, said, "These hearings are an opportunity for the Committee to hear about the current evidence base on the problem of family and domestic violence in Australia, and the actions being taken by governments and community organisations to prevent and respond to it.

"We want to investigate what is working well, and where there could be improvements, both to reduce violence against women and their children and to allow them to escape violence.

"In addition, though the significant majority of Australians experiencing domestic violence are women and children, the Committee understands that there are also men who live with this kind of abuse, and we are conscious of the need to inquire into its damaging impacts irrespective of the sex of the perpetrator or the victim.

"The Committee is also keen to hear about the impact the COVID-19 situation has had on those experiencing family violence, and on family violence service providers."

Mr Wallace said, "The Committee will use evidence from these and future hearings in formulating its report and recommendations, which will seek to inform the next National Plan to Reduce Violence against Women and their Children."

These hearings are the first of several expected to be held for the inquiry between now and November 2020.

In order to ensure public safety during the COVID-19 situation, Committee members and witnesses will participate in the hearing remotely, via videoconference and teleconference. Interested members of the public are invited to watch the live broadcast, available at aph.gov.au/live.

Further information, including hearing programs and submissions to the inquiry, is available on the Committee’s website.

Public hearing details

Date: Monday, 7 September 2020
Time: 8.45am to 4pm
Location: Via videoconference

Date: Tuesday, 8 September 2020 
Time: 8.45am to 4pm
Location: Via videoconference

View the public hearing programs here.

ends

Payment Times Reporting Bill a step in the right direction: Ombudsman

THE Australian Small Business and Family Enterprise Ombudsman, Kate Carnell has welcomed legislation passed in the Senate to implement the Payment Times Reporting Scheme, requiring big businesses to be transparent about their payment times.

Ms Carnell said the Bill represented important progress at a time when it is critical small businesses are paid promptly.  

“Australian small businesses have been hit hard by the COVID crisis so getting paid on time is key to their survival,” Ms Carnell said.

“This Bill will require businesses with turnover of more than $100 million to publish information about their payment policies.

“It requires big businesses to be up front and honest about the time it takes to pay their small business suppliers.

“Importantly, the legislation introduced today will apply to around 3,000 Australian large businesses, including foreign companies that carry on an enterprise in Australia along with certain government enterprises.

“It also defines the small business as those that have a turnover of less than $10 million per year, which covers 99 percent of businesses.

“My office will be invoking the powers we have to investigate any reports of big businesses failing to live up to the information provided on this register once it is implemented.

“We support the Payment Times Reporting Scheme as passed by the Senate, however Labor’s ‘failsafe mechanism’ amendment would have strengthened the Bill.

“The proposed failsafe mechanism would have allowed the regulator to force big businesses to pay their small business suppliers in 30 days or face hefty fines, but the amendment was unsuccessful.

“In reality, the Payment Times Reporting Scheme is a step in the right direction, but it won’t solve the problem of late payment times on its own.

“Legislation requiring SMEs to be paid in 30 days is the only way to drive meaningful cultural change in business payment performance across the economy.

“Cash flow is king for small businesses and when small businesses are paid on time the entire economy benefits.”

www.asbfeo.gov.au

ends

Mount Druitt tax professional jailed for lodging fraudulent tax returns

A MOUNT DRUITT tax professional has been sentenced at the Sydney District Court to one year and eight months jail today, having pleaded guilty to dishonestly causing a loss to the Commonwealth of nearly $180,000 by lodging false income tax returns and amendments without his clients’ knowledge. He was also ordered to pay $179,826 in reparation.

Hussain Nazeer, a formerly registered Business Activity Statement (BAS) agent, lodged 22 fraudulent income tax returns for 14 of his clients between 2010 and 2013. This resulted in $23,000 of refunds that he kept for himself. Mr Nazeer’s clients provided honest information about their income and deductions, but he submitted different information in their returns.

Mr Nazeer also lodged 108 false tax return amendments on behalf of 37 taxpayers without their knowledge. His false claims, which mostly related to car and medical expenses, resulted in an extra $156,000 in refunds that went straight to his bank account.

Assistant Commissioner Adam Kendrick welcomed the sentence handed down today.

“Tax and BAS agents play a vital role in contributing to and protecting the integrity of the Australian tax and super systems. The majority of registered agents do the right thing, but unfortunately there are some agents who take advantage of their trusted position for financial benefit,” Mr Kendrick said.

The ATO has a program dedicated to identifying and addressing agents whose behaviour has an immediate and ongoing threat to the integrity of the tax and super systems, their clients, and the wider Australian community. 

“As demonstrated in today’s case, even registered tax professionals can be dishonest and take advantage of their clients,” Mr Kendrick said. "That is why it’s important for the ATO to maintain the integrity of the tax profession and weed out those who try to undermine their trusted position.

“Mr Nazeer’s actions showed a complete disregard for not only the law, but also his clients’ trust by lodging fraudulent tax returns and amendments in their names,” Mr Kendrick said.

Mr Nazeer’s registration with the Tax Practitioners Board (TPB) was ceased in April 2016. 

People concerned about the conduct of a tax practitioner can report them to the TPB at tpb.gov.au/make-complaint.

Anonymous reporting of possible tax evasion and crime activities can be reported to the ATO via the app or by calling 1800 060 062. 

This matter was prosecuted by the Commonwealth Director of Public Prosecutions.

ends

Parliament hosts roundtable on the Pacific today

DIPLOMATIC representatives from Samoa, the Solomon Islands, Papua New Guinea, the Kingdom of Tonga, New Caledonia, Vanuatu, New Zealand, and Kiribati will meet today with members of the Joint Standing Committee on Foreign Affairs, Defence and Trade for a roundtable discussion on the topics of Pacific trade, aid and defence.

The roundtable connects several inquiries from sub-committees of the Parliament’s Foreign Affairs, Defence and Trade Committee.

Members of the sub-committees will be seeking the views of participants on the Australian Government’s Pacific Step-Up, infrastructure development, regional security, seasonal workers programs, a new development-centred trade agreement, the Pacific Agreement on Closer Economic Relations Plus (PACER Plus) and the potential of a “Pacific bubble” for easier travel and tourism between the island nations and Australia and New Zealand, in response to the COVID-19 shutdowns.

Further details about the about the inquiries, including terms of reference, details on how to contribute a submission and, when available, details of public hearings and roundtable discussions, can be obtained from the Committee’s website.

Public hearing details

Date: Friday 4 September 2020
Time: 9am to 12:30pm
Location: Committee Room IR1, Parliament House, Canberra

The hearing will be audio streamed live at aph.gov.au/live.

ends

Big four banks COVID-19 response under scrutiny

WITH THE IMPACT of COVID-19 still being felt around the country, executives from Australia’s four major banks will appear before a parliamentary committee in hearings over the next two Fridays to discuss their response to the pandemic.

Chair of the House of Representatives Economics Committee, Tim Wilson MP, said the hearings are part of the parliament’s role in publicly scrutinising and holding Australia’s four major banks to account.

"The Economics Committee and I are keen to discuss the banks’ response to the pandemic with the benefit of hindsight and bring forward new issues about Australia’s economic recovery," Mr Wilson said.

"Since the start of the pandemic, the Australian Government has introduced a range of support measures in cooperation with the banks. It’s really important that financial institutions are held accountable and that they are treating consumers fairly during what is a difficult time for many Australians.

"We are also keen to hear about the consequences of mortgage and small and medium business loan deferrals, and where there are opportunities for reform of responsible lending laws in light of the RBA Governor’s recent evidence to the committee."

In addition to COVID-19, the hearings will examine the four major banks’ progress in implementing the recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

"The committee will scrutinise the banks on how they are improving their practices and rebuilding trust in the sector. In particular, the committee will question banks regarding compliance issues that have continued to come to light, such as Westpac’s compliance failings in relation to its transaction reporting system," Mr Wilson said.

"Failures of this type have once again shaken the community’s trust in financial institutions, and these hearings give the committee an opportunity to follow up on how they can be prevented in the future so that the industry can regain the community’s trust."

For more information about the hearings, or to read transcripts from previous hearings, you can visit the Committee’s website.

Public hearing details

Date: Friday 4 September 2020
Time: 9.15am to 4.15pm
Witnesses: ANZ, CBA
Location: Via videoconference

Date: Friday 11 September 2020
Time: 9.15am to 4.15pm
Witnesses: Westpac, NAB
Location: Via videoconference

The hearing will be broadcast live at aph.gov.au/live.

ends

MTAA Super and Tasplan finalise C-suite structure ahead of merger

SUPER FUNDS MTAA Super and Tasplan have appointed Ross Barry as chief investment officer ahead of their merger next year.

With over 25 years experience, Dr Barry is a pioneer in institutional investing in Australia and is well known in the super industry as a specialist in private market investing and a leading proponent of active asset ownership. He was most recently the senior investment leader for First State Super.

Dr Barry will join MTAA Super on September 28, 2020. His appointment completes the C-suite team that will lead the combined fund after March 31, 2021.

The full C-suite group includes CEO Leeanne Turner; chief operations officer Kathleen Crawford; CIO Ross Barry; chief strategy officer Ningning Lyons; chief of people and culture Robyn Judd; chief of governance risk and compliance Amy Ward; and chief finance officer Grace Angeles.

Current MTAA Super executive manager for investments Phil Brown will assist with the handover before stepping down in mid-October after 15 years of service. More MTAA Super and Tasplan executives will exit following completion of the merger.

Departing from MTAA Super will be deputy CEO Michael Sykes; executive manager for operations Chris Porter; and executive manager of marketing, communications, education and advice.Michael Irving, 

Departing from Tasplan will be CEO Wayne Davy; COO and deputy CEO Nick Connor; executive manager for trategy Keryn Welch; chief risk officer Greg Hanigan; and acting CIO Dave Stuart.

CEO designate of the new merged entity, Leeanne Turner said, “On behalf of our respective boards, staff, and members, I sincerely thank all the executives for their dedication and commitment to the funds. They have been instrumental in driving this merger and have been integral to our success for many years leading up to this. I wish them all the best with their future endeavours.

“We are excited about the future. This merger will allow us to provide the personal customer service benefits of a smaller fund while harnessing the benefits of scale a larger fund can bring.”

Chair of Tasplan, Naomi Edwards said the focus was now on completing the merger with minimal disruption to members and employers.

“To date, the merger process has been very smooth, and we want to keep it that way," Ms Edwards said. "So, having our C- suite structure in place early is critical. I’m very excited about the team we have put together and I have no doubt they will help us build a fund that our members can be proud of.”

ends

Focus on the national capital

THE Joint Standing Committee on the National Capital and External Territories will be briefed tomorrow by the National Capital Authority about issues relating to the nation’s capital.

The briefing will be broadcast live on the Parliament House website.

Committee Chair, Anne Webster MP said: "The Committee welcomes the opportunity to hear from the National Capital Authority about its role as custodian of the National Capital Plan and caretaker of the special character of Canberra as the nation’s capital.

"The Committee looks forward to discussing a range of matters during the briefing and being updated on the latest developments.”

Further information may be found on the Committee’s website.

Public hearing details

Date: Thursday 3 September 2020
Time: 11am to 11:45am

The hearing will be broadcast live at aph.gov.au/live. Due to the COVID-19 pandemic, committee hearings are not presently open for physical attendance by members of the public.

ends

Seafarers recognised on Merchant Navy Day as pandemic highlights importance of maritime supply chains

THE SIGNIFICANT and invaluable contribution merchant seafarers make to Australia’s economy and society, both during wartime and at peace, has been recognised today on Merchant Navy Day.

With more than 98 percent of the nation’s imports and exports carried by sea, the COVID-19 crisis has highlighted once again how vital seafarers remain to Australia’s security and economic success.

During World War II, one-in-eight Australian merchant seafarers sacrificed their lives — a casualty rate higher than those suffered by any of the armed forces — in an effort to maintain supplies of goods and materials vital for the war effort.

Merchant Navy Day is commemorated each year to remember their sacrifice, marking the anniversary of the sinking of the first Allied merchant vessel during World War II, on September 3, 1939.

The Maritime Union of Australia said the day also highlighted the urgent need to invest in Australia’s declining merchant fleet.

“During the first and second world wars, more than 800 Australian merchant mariners sacrificed their lives for the Allied cause,” MUA national secretary Paddy Crumlin said.

“The role of merchant seafarers remains just as important during peace-time, as they transport the goods and resources needed to keep the Australian economy ticking. 

“The COVID-19 pandemic has highlighted the importance of this invaluable work, as global supply chains were stretched by an unprecedented crisis.

“Unfortunately, very few large trading vessels still fly the Australian red ensign, undermining our economic sovereignty as supply chains become increasingly reliant on foreign owned, crewed and flagged ships.

“A smart island nation needs a strong merchant navy — a lesson that is as relevant in the midst of a global pandemic as it was during both world wars.”

Mr Crumlin said Merchant Navy Day wasn’t just about remembering the sacrifices of the past, but highlighting the need to revitalise Australia’s shipping industry to ensure it can continue to support the nation’s economic and national security.

“Seafarers transport Australia’s exports, they supply the country with fuel, and they ensure the overwhelming majority of everyday products are available to the community,” he said.

“As the number of Australian-crewed vessels declines, not only are quality jobs lost, but the country is left vulnerable to global conflicts or economic shocks that disrupt maritime trade.

“During past conflicts, Australian-owned vessels crewed by Australian seafarers were available to ensure our supply lines remained in place, but decades of neglect has seen the industry hollowed out.

“Australia is now almost entirely dependent on foreign flag-of-convenience vessels, often registered in tax havens and crewed by exploited visa workers on as little as $2 per hour, to move cargo around the coast.

“One of the key lessons of World War II was the importance of having skilled, experienced seafarers to maintain supply lines during times of crisis. It is essential that as a nation we don’t forget it.”

ends

Builders call for National Cabinet consensus to arrest economic decline

BUILDING a National Cabinet consensus to deal cohesively and practically with the tension between the health and economic impacts of the virus is the overwhelming imperative to be drawn from the 7 percent fall in June quarter GDP, according to Master Builders Austrlaia.

“This is a fundamental requirement to instilling the confidence necessary to arrest the shocking drops in private sector demand and household spending that are driving the decline in economic growth,” Master Builders Australia CEO Denita Wawn said.

“Our industry is confronting forecast declines of 27 percent in home building activity and around 17 percent in commercial construction over the next 12 months,” she said.

“This will have a devasting impact on the nearly 400,000 businesses, the 1.2 million people they directly employ and negatively impact thousands more in the building supply chain and wider economy.

“That is why Master Builders is calling for bold action from the Federal Government in the Federal Budget which is now just over a month away.

“We want to see stimulus and policy measures that support economic growth. Investment in building and construction activity that gives back to the economy,” Ms Wawn said.

Ms Wawn outlined measures such as:

  • Master Builders proposed CommunityBuilder grants scheme to activate and bring forward demand for building services through the Federal Government assisting community groups and not-for-profits with the cost of construction of new facilities and substantial maintence of existing ones.
  •  Extending the life and expanding the scope of the highly successful HomeBuilder grants and First Home Deposit Scheme.
  •   Introducing accelerated depreciation on capital works over the next two years for all property types.
  •  Fast tracking construction pre-approved civil and social infrastructure.
  • Funding to provide training and jobs to young people and new hope and opportunity whose jobs are displaced by the economic crisis.
  • Complementary tax and regulatory reforms that lighten the load on business to maximise the effectiveness of government spending.  

“Rebuilding Australia from this recession is going to be a unique challenge. The building and construction has a major role to play and has been successfully navigating through the health challenges posed by the pandemic to continue providing jobs and economic activity,” Ms Wawn said.

“Boosting confidence through a National Cabinet consensus to deal with the economic and health challenges and Budget measures to bridge the gap in private demand are essential to providing a foundation for recovery."

www.masterbuilders.com.au

ends

Pacific trade agreement opponents to have their say

AUSTRALIAN, Tongan and Fijian opponents to a new Pacific trade agreement will give evidence at a parliamentary hearing tomorrow.

Witnesses from the Pacific Network on Globalisation (PANG) and Public Services International will provide evidence at the hearing, part of an inquiry into the Pacific Agreement on Closer Economic Relations Plus (PACER Plus).

Chair of the Foreign Affairs, Defence and Trade Committee’s Sub-Committee on Trade, John McVeigh, said the hearing was an important opportunity for the Sub-Committee to hear all views on Pacific trade.

PACER Plus is an agreement yet to be ratified with 13 other members of Pacific Islands Forum that it is hoped will encourage a stronger regional trading system between Pacific island countries.

Further details about the about the inquiry, including terms of reference, details on how to contribute a submission and, when available, details of public hearings and roundtable discussions, can be obtained from the Committee’s website.

Public hearing details

Date: Thursday 3 September 2020
Times: 10am to 11:15am
Location: Committee Room IR3, Parliament House, Canberra

The hearing will be audio streamed live at aph.gov.au/live.

ends

Seeding progress for hydrogen

ENERGY Networks Australia has welcomed the announcement today of the Regional Hydrogen Technology Clusters Seed Funding Program.

The National Energy Resources Australia (NERA) scheme aims to build the skills, capacities and commercialisation opportunities necessary to unlock Australia's enormous potential to create a global hydrogen export market.

Energy Networks Australia head of gas, Dennis Van Puyvelde, said it was good to see progress on actions outlined in the National Hydrogen Strategy.

"Technology clusters will support the development of different technologies to bring down costs of hydrogen production, transport and end-use," Dr Van Puyvelde said.

"Mapping the hydrogen landscape will create better opportunities to collaborate on technology development and integrate supply chains.

"Networks are already pushing ahead with hydrogen demonstration projects, with two already in operation and two more under construction."

More information on the future of gas in Australia can be found in Gas Vision 2050.

ends

More Articles ...

Contact Us

 

PO Box 2144
MANSFIELD QLD 4122