THE INQUIRY into food pricing and food security in remote Indigenous communities is holding further public hearings on Tuesday 18^th and Wednesday 19^th August, 2020.

Julian Leeser MP, Chair of the House of Representatives Indigenous Affairs Committee, said key stakeholders from Queensland and Western Australia would be appearing including local councils, health agencies, Aboriginal Corporations, the WA Government and Metcash. The chairman of the National COVID-19 Commission Advisory Board will also appear before the committee.

"These hearings will contribute significantly to the existing body of evidence for this inquiry. The committee looks forward to discussing some of the reasons for food insecurity in remote Indigenous communities, its impacts, and some of the possible solutions," Mr Leeser said.

"We will be particularly interested to hear from the National COVID-19 Commission on the additional challenges the pandemic is causing for remote food supplies."

The hearings will be conducted via telephone and video links due to social distancing requirements relating to COVID-19. Full programs are available at the inquiry website.

Public hearing details

Date: Tuesday, 18 August 2020
Time: 9.40am to 4.20pm
Location: Via conference call

Date: Wednesday, 19 August 2020
Time: 9am to 3.40pm
Location: Via conference call

An audio broadcast will be accessible at aph.gov.au/live.

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THE House of Representatives Standing Committee on Economics will hold a public hearing with the Governor of the Reserve Bank of Australia (RBA), Philip Lowe, on Friday, August 14, via videoconference.

The RBA last appeared before the committee in February 2020.

At its meeting on August 4, the RBA Board decided to maintain the current policy settings, including the targets for the cash rate and the yield on three-year Government bonds of 25 basis points.

Commenting on the decision, the RBA Governor said, "This accommodative approach will be maintained as long as it is required. The Board will not increase the cash rate target until progress is being made towards full employment and it is confident that inflation will be sustainably within the 2–3 percent target band."

The RBA Governor said, "The Australian economy is going through a very difficult period and is experiencing the biggest contraction since the 1930s. As difficult as this is, the downturn is not as severe as earlier expected and a recovery is now underway in most of Australia.

"This recovery is, however, likely to be both uneven and bumpy, with the coronavirus outbreak in Victoria having a major effect on the Victorian economy."

Committee Chair, Tim Wilson MP said,  "The committee will be scrutinising the RBA’s measures in response to the COVID-19 pandemic. We are interested in learning more about the RBA’s plans to support a strong recovery for the Australian economy.

"There’s never been a more lively time to discuss monetary policy, with reckless proposals for Modern Monetary Theory floated in the media. This hearing will provide a good opportunity for the RBA to outline the shortcomings of such proposals." Mr Wilson said.

Public hearing details

Date: Friday, 14 August 2020
Time: 9.30am to 12.30pm
Venue: Videoconference

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

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THE Australian Small Business and Family Enterprise Ombudsman Kate Carnell has welcomed action taken by Greensill to cut ties with clients that have poor payment terms, calling on other supply chain finance providers to follow suit.

“Greensill has issued discontinuance notices to its supply chain finance clients who fail to comply with 30-day payment terms,” Ms Carnell said.

“This is strong action taken in response to our Supply Chain Finance Review, showing that Greensill takes prompt payment times to small business seriously.

“There is no reason why other supply chain finance providers can’t do the same.

“As outlined in our Supply Chain Finance Review, we know there are large companies extending their payment terms to 60 or more days from the end of month the invoice is lodged and offering supply chain finance to those that want to be paid earlier and are willing to take a discount on the invoiced amount," Ms Carnell said.

“This practice is unacceptable and harmful to small businesses, especially in the current difficult trading conditions.

“Now, more than ever before, small businesses need to be paid the full invoiced amount owed, on time. Their survival depends on it.

“That’s why my office has recommended federal legislation requiring small businesses to be paid in 30 days. It is the only way to drive meaningful change in business payment performance across the economy," she said.

“Greensill has shown that supply chain finance providers can lead by example by cutting off clients that fail to pay on time.

“This should be the position adopted by all supply chain finance facilitators.”

www.asbfeo.gov.au

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THE Tax Practitioners Board (TPB) has signed its first memorandum of understanding (MoU) with a recognised Business Activity Statement (BAS) agent association, the Australian Bookkeepers Association (ABA). 

TPB chair Ian Klug said that a number of other recognised professional associations had expressed interest in similar agreements.

"We are delighted that the ABA is the first recognised professional association for BAS agents to join us in signing this MOU," Mr Klug said. 

"In developing these agreements, we are highlighting our intention to work collaboratively with tax and BAS practitioner associations to promote the integrity of the tax profession."

Mr Klug said that the agreement with the ABA, signed yesterday, will facilitate better information exchange between the two organisations.

"This TPB and ABA MoU will increase our mutual capacity to enhance the integrity of the BAS agent profession, including sharing information and intelligence about BAS agents’ compliance with the tax practitioners Code of Professional Conduct," Mr Klug said.

ABA director, Peter Thorp, said the spirit in which the MOU has been agreed is beneficial for both ABA and the TPB.

"The MoU will lead to greater co-operation, better communication and more streamlined procedural dealings between the ABA and the TPB," Mr Thorp said.

"A closer working relationship like the one envisaged in the MOU can only benefit the bookkeeping profession as a whole."

Mr Klug said the TPB is developing MoUs with other recognised professional associations and will announce more in coming months.

About the Tax Practitioners Board

The Tax Practitioners Board regulates tax practitioners in order to protect consumers. The TPB aims to assure the community that tax practitioners meet appropriate standards of professional and ethical conduct. Twitter @TPB_gov_au, Facebook and LinkedIn

About Australian Bookkeepers Association:

Australian Bookkeepers Association advances the cause of the bookkeeping profession in Australia. It does this in accordance with its Objects that foster education, training representation and professionalism. Twitter @ AustBookkeepers, Facebook and LinkedIn.

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OPTIONS for improving how major rail projects are funded will be discussed at a videoconference public hearing on August 17, 2020 for the inquiry into options for financing faster rail.

John Alexander MP, Chair of the House of Representatives Standing Committee on Infrastructure, Transport and Cities, said, "Governments have a responsibility to ensure that tax payer dollars are being used effectively on vital rail and wider infrastructure projects.

"Mr Steve Skinner will provide the committee with interesting evidence on opportunities lost for value capture, where infrastructure projects have created significant uplifts in land values," Mr Alexander said..

The Property Council of Australia will provide a stakeholder perspective on planning and tax reform challenges and opportunities, including voluntary planning agreements and government investment in infrastructure projects through ‘asset recycling’, involving the sale or lease of existing public assets to the private sector.

The committee will also hear from independent think tank Infrastructure Partnerships Australia about alternatives for funding major infrastructure.

Public hearing details

Date: Monday 17 August 2020
Time: 9.15am to 11.45am
Location: Videoconference

A program for the hearing is available on the Committee’s website.

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

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A PARLIAMENTARY inquiry into the impact of COVID-19 on Australia’s defence, trade and international relations will hear from the Department of Health.  

Senator David Fawcett, Chair of the Parliament’s Foreign Affairs, Defence and Trade Committee, said the department had been at the forefront of Australia’s COVID-19 response.

Senator Fawcett said, “Australians can rightly be proud of the achievements of our health authorities in responding to and managing the COVID-19 pandemic, though of course there is still work to be done. The committee looks forward to hearing from the Department about recent developments in the fight against COVID-19 and the steps we might take as a nation to build our resilience as we emerge from the pandemic.”

Full terms of reference for the inquiry are on the Committee website.

Public hearing details

Date: Thursday 13 August
Time: 3pm – 4.30pm AEST 
Location: By teleconference

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

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THE Joint Standing Committee on Migration will hold a public hearing today for its inquiry into the Working Holiday Maker program, with a particular focus on the agricultural sector.

Committee Chair Julian Leeser says the hearing will be an opportunity to hear from groups about the upcoming harvest season, and the impact of the COVID-19 pandemic on the available workforce.

"In our inquiry so far, we have heard from a diverse range of groups and government departments with a wide range of connections to the Working Holiday Maker program," Mr Leeser said.

"This hearing is an opportunity to focus on the workforce issues facing the horticulture industry from groups on the front line of this issue, including Fruit Growers Victoria and the Greater Shepparton City Council.

"The Committee will hear from AgriLabour, a labour hire company working with both Working Holiday Makers and agriculture businesses around Australia."

Public hearing details

Date: Thursday 13 August 2020
Time: 12.30pm – 4pm
Location: by teleconference

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

Further details on the inquiry, including the terms of reference, are available on the inquiry website.

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A LEGISLATED10-year hold on the rate of royalties applied by the State Government to Queensland's resource commodities will create more jobs and strengthen COVID-19 recovery efforts, according to the Queensland Resources Council.

QRC chief executive Ian Macfarlane said maintaining royalty rates – already Australia’s highest - at current levels for the next 10 years sends a clear message to investors around the globe that 'Queensland is open for business'.

"Before COVID-19 hit, the Queensland Government confirmed the royalty rates on coal and metals would remain stable until 2022, and for petroleum until 2025, which the resources industry welcomed," Mr Macfarlane said.

"Given the importance of the resources sector in leading the State in its economic recovery, the QRC welcomes today’s announcement by the LNP that it would legislate a 10-year freeze on royalty rates until 2030, because it’s exactly what Queensland needs right now.

“As the peak representative body for Queensland's explorers and producers of coal, metals and gas and supplier companies, the QRC calls on all members of State Parliament to support the LNP’s proposal to give the industry the confidence to play its part in Queensland’s COVID-19 recovery.”

Mr Macfarlane said the resources industry had been through a period of turmoil and upheaval with Queensland’s royalty regime, to the sector’s detriment.

"We know Queensland’s regulatory uncertainty has already impacted investment decisions for resource projects which operate for decades, and benefit our state economy for even longer,” he said.

“A decade of royalty certainty is the shot in the arm the Queensland economy needs as we unite and recover from COVID-19.”

Mr Macfarlane said as Queensland’s largest export industry, the resources sector was committed to paying its fair share of royalties, and the LNP proposal would lock in that definition of fair for a decade.

“Without new investment, jobs, exports and royalties the Queensland Government will simply not be in a position to finance a COVID-19 recovery,” he said.

“Before COVID-19, the Queensland resources sector employed more than 372,000 Queenslanders and generated $76 billion in economic activity across the State, creating more than $5 billion in government royalty revenue.

“Queensland needs to secure every job and every dollar, if we are to bounce back from COVID-19 as quickly and as strongly as possible,” Mr Macfarlane said.

www.qrc.org.au

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