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Business News Releases

New South Wales throws down the gauntlet with new net zero plan

ENERGY efficiency experts say the NSW Government’s plan for meeting its new 2030 climate target is comprehensive, credible and achievable, and sets a new benchmark for action from other states.

The NSW Government has announced a target of reducing statewide emissions by 35 percent by 2030, and released a net zero plan setting out the detailed actions that will get them there.

Council CEO Luke Menzel said NSW Energy and Environment Minister Matt Kean has thrown down the gauntlet to his ministerial colleagues around the country.

“Every Australian state has set a goal of hitting net zero emissions by 2050. However the NSW Government is the first with a detailed plan for what they are going to do, right now, to begin driving this economic transformation," Mr Menzel said.

Mr. Menzel said the NSW Government’s plan did two crucial things.

“In the short term, it scales up deployment of cost effective technology that immediately cuts carbon and energy costs for families and businesses,” he said. “However it also has an eye to the future, supporting industry to gain experience with new ways of operating – like electrifying manufacturing processes – that will become crucial to emissions reduction efforts later this decade.”

The NSW plan:

  • includes new funding for an expanded Energy Efficiency Program that will ramp up the NSW Government’s existing support for smart energy use across the state;
  • commits $450 million over 10 years to an Emissions Intensity Reduction Program, which assist the rollout of cutting edge low carbon technologies in sectors where it is harder to reduce emissions;
  • includes a range of other measures, including strategic investments in hydrogen, expanding building rating programs and reducing embodied carbon in building products.

Mr. Menzel said that NSW’s leadership position on emissions reduction was smart.

“This isn’t just an environmental policy, its an economic one,” Mr Menzel said.

“It is a blueprint for cutting the emissions of existing industries, and capturing the opportunities of a net zero economy.”

About the EEC

The Energy Efficiency Council is a not-for-profit membership association for businesses, universities, governments and NGOs. Founded in 2009, the Council’s members are diverse, but are united by a common cause: building a sophisticated market for energy management products and services that delivers: Healthy, comfortable buildings; productive, competitive businesses; and an affordable, reliable and sustainable energy system for Australia.

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Builders back well targeted stimulus

THE Federal  Government’s $17.6 billion stimulus package should bolster economic resilience in the face of the current challenge according to Master Builders Australia.

"In times of crisis people look to their leaders to respond and the government through this stimulus package has done that,” Denita Wawn, CEO of Master Builders Australia said.

"Right now what our industry most needs is confidence and this clear signal from the government that they are determined and committed to doing whatever it takes is extremely welcome,

"There are more than 380,000 small building businesses and tradies in our industry, more than any other sector of the economy, that will benefit from the Government’s strong focus on backing small businesses,” Ms Wawn said.

“We strongly back the moves to back businesses, particularly small businesses, to keep workers and apprentices employed. The danger with economic shocks is that the labour market recovers slower than the rest of the economy so moves to offset employers shrinking their workforce is very well targeted.

“Builders and tradies around the country will respond favourably to the huge boost in the instant tax write-off threshold from $30,000 to $150,000 and expansion of its eligibility to businesses with turnover under $500 million (up from $50 million),” Ms Wawn said.

"Incentives to invest in business assets are also well targeted to our industry. There is no doubt builders and tradies will be encouraged to invest in new plant and equipment.

"However, if there is a major contraction in building activity then the benefit of these measures will be blunted. The government must take a strong leadership role in ensuring that construction of government projects currently underway continue and that projects scheduled to commence are not delayed or withdrawn,” Ms Wawn said.

"The government could also bring forward expenditure on existing projects. Accelerating construction of current projects and bringing forward construction of shovel ready projects, big and small, would provide an immediate strong impetus for building firms to take up tax write off and investment incentive measures.

"Our industry also remains nervous about how protracted the inevitable shortage and delayed delivery of imported building products will be. This is a hit to our industry that is looming over the next few months and additional measures and extensions of some of stimulus measures may be required to help the industry weather that storm,” Ms Wawn said.

www.masterbuilders.com.au

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ATEC ready to support Australia’s tourism industry

THE Australian Tourism Export Council (ATEC) has welcomed the Federal Government’s stimulus package of funding to address the impacts of the coronavirus on the Australian economy.

“ATEC is pleased the government is making a solid commitment to sustaining the tourism industry in the wake of the COVID-19 outbreak,” ATEC managing director Peter Shelley said.

"We have been greatly concerned by the impact the contraction in international travel will have on tourism’s future - we just can't afford to lose the important distribution channels currently in place.  We are particularly happy with the commitment to support businesses where there has been a supply-chain breakdown as a result of the virus outbreak.

“Despite the bushfires and subsequent COVID-19 crisis, the industry has been doing what it can to keep the doors open - this is a dire time and the industry needs every bit of support it can get."

Mr Shelley said money for Austrade to explore alternative export markets aligns with ATEC’s focus on training and development and small business grants along with wage subsidies and BAS deferral will help to keep the wheels turning and maintain positive trade relationships. Business grants similar to EMDG would go a long way to encouraging capable tourism exporters to invest in new markets.

ATEC stands poised to ramp up support programs for the industry, using its already successful learning and development platform to deliver meaningful benefits for export tourism businesses across the country.  Many of ATECs programs are available via an online learning platform and can reach regional businesses. Training programs available for immediate action include:

  • Industry training programs designed to arm businesses with an understanding of the China, Japan and India markets with a focus on distribution, experience and product development;
  • Virtual Trade Shows to allow businesses to continue building relationships in order to re engage trade quickly post COVID-19;
  • International Ready training to move domestic tourism product towards export which can be driven throughout the tourism regions.

“Now is the time for action and ATEC looks forward to working with the Government in quickly delivering programs to Australia’s tourism industry which can help to put it back on its feet.”

www.tourismdrivesgrowth.com.au

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Committee to review telecommunications International Production Orders Bill

THE Parliamentary Joint Committee on Intelligence and Security (PJCIS) has commenced a review into the effectiveness of the Telecommunications Legislation Amendment (International Production Orders) Bill 2020.

The bill review was requested by the Minister for Home Affairs in a letter to the Committee available here.

The Telecommunications Legislation Amendment (International Production Orders) Bill 2020 is drafted to amend the Telecommunications (Interception and Access) Act 1979 to:

  • provide a framework for Australian agencies to obtain independently-authorised international production orders for interception, stored communications and telecommunications data directly to designated communications providers in foreign countries with which Australia has a designated international agreement;
  • amend the regulatory framework to allow Australian communications providers to intercept and disclose electronic information in response to an incoming order or request from a foreign country with which Australia has an agreement;
  • make amendments contingent on the commencement of the proposed Federal Circuit and Family Court of Australia Act 2020; and
  • remove the ability for nominated Administrative Appeals Tribunal members to issue certain warrants.

The Bill intends to provide for the legislative framework for Australia to give effect to future bilateral and multilateral agreements for cross-border access to electronic information and communications data, such as that being negotiated with the United States for the purposes of the US Clarifying Lawful Overseas Use of Data Act (CLOUD Act).

The Committee requests submissions to the inquiry by Thursday 9 April 2020

Prospective submitters are advised that any submission to the Committee’s inquiry must be prepared solely for the inquiry and should not be published prior to being accepted by the Committee.

Further information on the inquiry can be obtained from the Committee’s website

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Have your say on Indigenous opportunity

THE Indigenous Affairs Committee in the Federal Parliament has launched a new survey seeking your feedback on ways to make employment and business ownership easier to access for Indigenous Australians.

This survey forms part of the committee’s current Inquiry into Pathways and Participation Opportunities for Indigenous Australians in Employment and Business. Committee Chair Julian Leeser said it makes having your say to the Parliament easier and faster than ever before.

"A focus of this inquiry is removing barriers, and what better way to start than by removing barriers to participating in the inquiry?" Mr Leeser said.

"You can fill out the survey in only five minutes, and if there’s something you’d like to raise with the Committee in more detail you can still make a longer written submission to the inquiry and be considered as a possible witness at a future public hearing."

The Committee plans to announce hearings around regional Australia in the coming weeks as part of the inquiry.

You can find more information about the inquiry on the Committee’s website.

The survey can be accessed at this link.

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ATO support measures to assist those affected by COVID-19

THE Australian Taxation Office (ATO) will implement a series of administrative measures to assist Australians experiencing financial difficulty as a result of the COVID-19 outbreak.

Commissioner of Taxation Chris Jordan is encouraging businesses impacted by the coronavirus to get in touch with the ATO to discuss relief options.

“We know that many businesses and communities are being heavily affected by the challenging economic conditions created by the outbreak of COVID-19,” Mr Jordan said.

“The ATO will work shoulder-to-shoulder with businesses to assist them through this difficult period and do what we can to ease the pressure. Once you contact us, we’ll tailor a support plan for your needs and circumstances.

“Support measures could include deferral of some payments, quicker access to GST refunds, and options to enter low interest payment plans for existing or future tax debts.

"We understand this is a time of significant uncertainty and that we will need to be flexible in how we help businesses," he said.

Options available to assist businesses impacted by COVID-19 include:

  • Deferring by up to four months the payment date of amounts due through the business activity statement (including PAYG instalments), income tax assessments, fringe benefits tax assessments and excise.
  • Allow businesses on a quarterly reporting cycle to opt into monthly GST reporting in order to get quicker access to GST refunds they may be entitled to.
  • Allowing businesses to vary Pay As You Go (PAYG) instalment amounts to zero for the April 2020 quarter. Businesses that vary their PAYG instalment to zero can also claim a refund for any instalments made for the September 2019 and December 2019 quarters.
  • Remitting any interest and penalties, incurred on or after 23 January 2020, that have been applied to tax liabilities.
  • Working with affected businesses to help them pay their existing and ongoing tax liabilities by allowing them to enter into low interest payment plans.

Employers will still need to meet their ongoing super guarantee obligations for their employees, Mr Jordan said.

"To make it easier for people to apply for relief we will be increasing our presence in the areas of highest impact," Mr Jordan said.

"A temporary shopfront with staff specialising in assisting small business will be established in Cairns within the next few weeks. In addition, we will consider ways to enhance our presence in other significantly affected regions, making it easier for people to apply for relief. Additional temporary shopfronts and face-to-face options are currently under consideration.

"We will also continue to work with the tax profession, other government agencies and local organisations to make sure other impacted communities are also supported during this time. We will ensure our services are tailored to the needs of the community and will work with taxpayers and their tax agents to tailor support to their individual circumstances," Mr Jordan said.

"Outside of business, the ATO will also work with individuals experiencing financial hardship, and their tax agents, and will apply appropriate tax relief measures for serious and exceptional circumstances, such as where people cannot pay for food or accommodation.

"Unlike the bushfire relief measures, which applied automatically to particular geographic areas, assistance measures for those impacted by COVID-19 will not be automatically implemented.

Anyone impacted by COVID-19 can contact the ATO to request assistance on the Emergency Support Infoline 1800 806 218, when they are ready, to discuss their situation.

www.ato.gov.au

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COVID-19 stimulus package to save jobs and industries says caravan industry

THE Caravan Industry Association of Australia has welcomed the $17.6 billion COVID-19 support package released by the Federal Government this morning. 

The stimulus package is crucial to supporting Australians, the business community and the economy in this time of crisis, the association said.

"There is no doubt that the start of 2020 has brought immense challenges to the tourism industry which is impacting cash flows, staffing and operations in businesses across the country," Caravan Industry Association of Australia CEO Stuart Lamont said.

The government’s stimulus package through business tax write offs, apprenticeship support, tourism funding and wage subsidies, will help inject cash into local economies, support businesses to maintain staffing levels and to provide business confidence in these uncertain times.

“Caravan Industry Association of Australia values the timely and measured response of the Government, which will help secure jobs across our manufacturing and accommodation sectors whilst also providing a safeguard for Australia’s economy,” Mr Lamont said.

“And once the current crisis eases, Australia’s caravan and camping industry will be ready to play its role in supporting economic recovery through welcoming Australians and our international visitors back into regional destinations to experience.”

About Caravan Industry Association of Australia

Caravan Industry Association of Australia is the peak national body for the caravan and camping industry. The association represents the $23 billion economy and 5000 jobs across the industry. The association operates as a not-for-profit organisation with a membership base comprising the individual state caravan and camping industry associations, working collaboratively with on matters concerning the industry.

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Fiscal stimulus 'a timely boost' amid coronavirus threat - CPAs

THE Federal Government’s economic response to the coronavirus, or COVID-19, announced today, should provide a strong boost to many households and businesses as they face an uncertain period, according to Australia’s largest accounting body CPA Australia.

CPA Australia spokesperson Paul Drum said COVID-19 continues to present a significant threat not only to human health but also to business and jobs.

“Today’s announcements should alleviate some of those business concerns, especially around cash flow,” Mr Drum said.

CPA Australia’s reaction to today’s fiscal stimulus announcements:

  • Cash flow boost for employers – giving employers up to $25,000 should boost cash flow for SMEs at this critical time. Businesses will, however, need to get their BAS statements in to get the credit.
  • The short-term extension of the instant asset write off until the end of June will make it more attractive for businesses under $500 million in turnover to invest in expensive plant and equipment. However, three months is a very short period to have such assets used or installed to qualify for the offset.
  • Similarly, the introduction of accelerated depreciation will make it more attractive for businesses under $500 million in turnover to invest. However, unlike the instant asset write off extension, this measure will be in place until June 30, 2021 and the value of the eligible asset is uncapped, meaning it could be very useful in encouraging investment in the post-crisis recovery.
  • The 50 percent wage subsidy for apprentices and trainees for small businesses should minimise job losses for this group of people.
  • The $750 support payment to certain households will provide a timely boost to spending.

“We encourage those recipients of monies as part of this package to spend it at Australian businesses," Mr Drum said. “With the crisis evolving quickly, this may not be the last time the government will need to consider stimulus measures."

About CPA Australia

CPA Australia is one of the world's largest accounting bodies, with more than 165,000 members working in 100 countries and regions and supported by 19 offices globally. Our core services to members include education, training, technical support and advocacy. Employees and members work together with local and international bodies to represent the views and concerns of the profession to governments, regulators, industries, academia and the community.

www.cpaaustralia.com.au

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Sentrient offers its Infection Prevention and Control course for Australian businesses for free

SENTRIENT has made available an online course, for free, to create awareness for infection prevention and control for all staff in Australian workplaces including employees, contractors and volunteers.

The 15-minute online course for infection prevention and control is a free resource to support small and medium businesses and larger organisations across all industry sectors and for people located in Australia and overseas. It provides an awareness of basic hygiene and how to prevent and control the spread of infection in the workplace.

Sentrient managing director, Gavin Altus, said that social media can often present misinformation about outbreaks of viruses and that employers have a responsibility to reinforce good health and safety practises in the workplace when it comes to situations that pose a risk for infection.

“The content of the course is simple to navigate, easy to understand and provides links to credible resources such as the World Health Organisation, UNICEF, Australian Government Department of Health and Smartraveller, and it is relatable to people from all Australian workplaces," Mr Altus said.

“The online course can be downloaded by an employer and rolled out via their existing learning management system within just minutes, making it really easy for employers to do the right thing and to help protect their people and their clients.”

Sentrient support hundreds of small and medium businesses and larger organisations in Australia with various compliance related content, mainly in the area of behavioural compliance. They are advocates for employers creating safe, inclusive and respectful workplaces.

After numerous requests for support with training on infection prevention and control, Sentrient felt they should go beyond supporting their own client base and instead create a resource that could be used by many.

Click here to find out more information about the infection prevention and control course and for further information contact Sentrient.

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New Inquiry: Commissioner of Taxation Annual Report 2018-19

THE Australian Parliament’s Tax and Revenue Committee has launched an inquiry into the Commissioner of Taxation Annual Report 2018-19.

As Australia’s principal revenue collection body, the annual report is a key mechanism for the ATO’s accountability to the Government and the Australian community. The 2018-19 annual report is the most recently tabled annual report from the Commissioner of Taxation.

Jason Falinski, Chair of the Committee, said, "This inquiry provides an opportunity for the committee to continue ongoing monitoring of the operations of the Australian Taxation Office and its interaction with the Australian community."

Submissions from interested individuals and organisations are invited by Friday, 17 April 2020. The preferred method of receiving submissions is by electronic format lodged online using a My Parliament account.

Further information about the inquiry including the terms of reference is available on the Committee’s website.

Public hearing details

Public hearings for the inquiry will be held in due course and notified through the Committee’s website.

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Maritime Union says US fuel deal is 'another Taylor-made accounting trick that will not secure our fuel'

THE Morrison Government’s arrangement to store Australia’s emergency fuel reserves in the United States is nothing more than an accounting trick that will do nothing to ensure the country’s resilience to a global crisis that disrupts fuel supplies, the Maritime Union of Australia has warned.

Energy Minister Angus Taylor announced the signing of an agreement to allow Australia to lease storage space in the US Strategic Petroleum Reserve, using that oil stored on the other side of the world to technically meet the International Energy Agency’s minimum 90-day fuel stockholding obligation.

The arrangement has provided no details of how that oil stockpile would assist Australia in a genuine crisis, how long it would take to bring to Australia, or how it would be transported when there are no Australian-owned oil tankers.

MUA Assistant National Secretary Ian Bray said the IEA requirement for minimum fuel reserves — which Australia has been in breach of since 2012 — were about ensuring adequate reserves were available to address potential shipping disruptions caused by military conflicts, economic crisis, or natural disasters.

“More than 90 percent of Australia’s fuel is imported, all on foreign tankers, yet in recent years the country has regularly had just a few weeks of fuel available, putting the economy at risk of grinding to a halt if any major incident cut those supplies,” Mr Bray said.

“To claim that storing Australian-owned oil in the US Strategic Petroleum Reserve will somehow solve this is fanciful, especially as the Morrison Government has provided no information on how it would transport those fuel supplies during a crisis.

“This agreement with the US is nothing more than an accounting trick that aims to placate the International Energy Agency while doing absolutely nothing to deliver fuel security for Australia.”

Mr Bray said the Morrison Government should take advantage of a collapse in global oil prices to construct a domestic fuel reserve, ensuring the products needed for transport, aviation and industry were on Australian soil and ready to use during any future crisis.

“The US has had a Strategic Petroleum Reserve for decades, which they consider a critical asset for their energy and national security,” he said.

“Rather than look to accounting tricks, the Morrison Government should emulate that model and construct a domestic fuel reserve that ensures adequate supplies of fuel are always available to address potential shipping disruptions caused by military conflicts, economic crisis, or natural disasters.

“Given it takes a supply chain of approximately 60 full-time fuel import tankers to supply petrol, diesel and jet fuel to Australia, and Australia has no ownership or control of any part of that supply chain, the Australian Government should also look to develop a strategic fleet that includes Australian-owned oil tankers to ensure supplies can continue during times of crisis.

“Given the short timeframes involved during the kind of emergencies where fuel supplies might be threatened, the Morrison Government’s solution of storing emergency fuel halfway around the world is not only fanciful, its recklessness puts the Australian economy at genuine risk.

“With the growing coronavirus pandemic already causing problems with supply, and businesses and households facing shortages of some products, it would be in the national interest if fuel wasn’t added to that list.

“A cut to fuel supplies wouldn’t just impact the transport sector, it would jeopardise our national food security and devastate local manufacturing, including some pharmaceuticals.”