Business News Releases

A fair go for retail: ARA secures major change to retail leases in NSW

RETAILERS in New South Wales (NSW) will have an extra reason to celebrate this Christmas after the Australian Retailers Association (ARA) secured a major win for retail tenancy in the state.

The ARA and major industry leaders the Pharmacy Guild of Australia (PGA), along with other industry bodies, are behind the development of the landmark Retail Industry Code of Practice – The Reporting of Sales and Occupancy Costs (the Code). 

An outcome of the 2016 review of the Retail Leases Act 1994 (NSW), the Code marks a major power shift back to retailers, as shopping centre landlords will now have an obligation to provide benchmark information to their tenants where retailers provide sales data.

Russell Zimmerman, executive director of the ARA, said that from January 1, 2019, the Code will ensure that retailers will have the ability to access information on sales reporting and occupancy costs, improving transparency and accountability.

“This landmark achievement for retailers in NSW will provide vital information to tenants in shopping centres, allowing them to better-understand the real value of their leases,” Mr Zimmerman said.

“The implementation of this Code will help to give some power back to retail tenants and give them some added certainty when it comes to negotiating with their landlords.”

The Code has also been agreed to by the Shopping Centre Council of Australia (SCCA) and will be implemented next year. Shopping centres will have a six-month transitional period to July 1, 2019 to sign-up and implement the Code.

Mr Zimmerman said the reform could not have been possible without the support of the PGA, along with the Deputy Premier of NSW, John Barilaro, who championed the reforms.

“The ARA is grateful to our friends and partners at the PGA for their continued advocacy, not only on behalf of their own members, but for the benefit of the entire industry,” Mr Zimmerman said.

“We will be working to implement this Code nationally over the medium-term, and with rising costs, increasing competition and patchy sales growth creating some headwinds for retailers, big wins like this can make a substantial difference.”

To view a copy of the Code, click here.

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is Australia’s largest retail association, representing the country’s $310 billion sector, which employs more than 1.2 million people. As Australia’s leading retail peak industry body, the ARA is a strong pro-active advocate for Australian retail and works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

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ARA: New Zealand to legalise vaping, leaving Australia behind… again

THE Australian Retailers Association (ARA) said that following the announcement by the New Zealand Associate Minister of Health, Jenny Salesa, to legalise vaping and nicotine e-cigarettes, Australia will soon sit behind more than 60 other countries in continuing to ban the alternatives to traditional tobacco products.

The announcement by Associate Minister Salesa last Friday emphasised that legalising vaping will enhance product quality and safety and assist low-income earners, who have some of the highest smoking rates, to switch to a cheaper and less harmful alternative.

Russell Zimmerman, executive director of the ARA, said that it was past-time that the Health Minister, Greg Hunt MP, dropped his personal opposition to legalising nicotine e-cigarettes in Australia, and followed the lead of our international counterparts.

“The Health Minister is standing in the way of a path towards better health outcomes for long-term smokers, due to a personal opposition to all forms of tobacco,” Mr Zimmerman said.

“We call on the Minister to put his personal convictions aside for the benefit of Australians, and listen to our counterparts across the Tasman, who have clearly stated that vaping is significantly less harmful than smoking.”

In August, the CSIRO’s E-cigarettes, smoking and health (the report) literature review indicated that e-cigarettes can assist some smokers in quitting traditional cigarettes. The report also provided evidence for a range of health improvements when conventional tobacco smokers make the switch.

“According to the CSIRO’s findings, it is clear that e-cigarettes are preferred by some smokers as a cessation method. Trials have found nicotine e-cigarettes are more effective at reducing conventional smoking than nicotine free e-cigarettes or no e-cigarettes,” Mr Zimmerman said.

“The Government should listen to the CSIRO and alleviate concerns about unregulated usage by allowing retailers to sell nicotine e-cigarettes legally.”

Along with the CSIRO’s report, a Crosby Textor poll conducted in June found almost 50 percent of Australians and more than two thirds of smokers support the legalisation of e-cigarettes and personal vaporisers in Australia.

“The Crosby Textor poll showed that 70 percent of Australians and 67 percent of smokers agreed that vaporisers were a way to completely phase out cigarette smoking in Australia,” Mr Zimmerman said.

With New Zealand legalising the sale of nicotine e-cigarettes, Australia will now sit behind over 60 countries, including most of the European Union, the United Kingdom, the United States of America, and several Asian nations, giving consumers ample options to circumvent local restrictions and import vaping products from overseas.

“When restrictions force consumers to import these products, rather than purchase them legally at home, consumers are exposed to the risk of unregulated and potentially unsafe products,” Mr Zimmerman said.

“The number of people who are already importing nicotine-based e-cigarettes from overseas is growing, giving offshore retailers a significant advantage and translating into a significant loss of revenue for Australian retailers.

“Allowing retailers the opportunity to sell these harm reduction alternatives is a win-win, as it provides health benefits for the community, and economic benefits, including a reduced burden on the health system and crucial support for local retailers.”

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is Australia’s largest retail association, representing the country’s $310 billion sector, which employs more than 1.2 million people. As Australia’s leading retail peak industry body, the ARA is a strong pro-active advocate for Australian retail and works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

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Research funding report tabled

THE Standing Committee on Employment, Education and Training has today tabled its report, Australian Government Funding Arrangements for non-NHMRC research.

The report identifies ways to simplify research funding application and assessment processes, particularly for university researchers.

Committee chair Andrew Laming MP said, "Australian researchers spend a great deal of time and effort applying for competitive research funding.  Time spent applying for research funding, is less time available to conduct world-class research."\

The Committee has made 15 recommendations in its report.  The key recommendation is the introduction of a central online research management system for all Commonwealth grant programs, and a two-stage application process which favours the strength and merit of research ideas.

Mr Laming said, "The Committee’s recommendations aim to reduce the large volume of information required to support a research funding application. The recommendations emphasise the need to make use of existing data sources and information, improve document uniformity, and level the playing field for under-represented researchers.  This includes early and mid-career researchers, women, minority groups, Indigenous researchers and rural and regional universities."

The report also calls for a more strategic approach to Australia’s research investment, including investment and participation in international research funds.

The Committee received 97 submissions to its inquiry, and held four public hearings in Brisbane, Melbourne, Sydney and Canberra.  Further information on the inquiry, including the full terms of reference, is available on the Committee website.

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Real estate foreign investment compliance under scrutiny

THE Joint Committee of Public Accounts and Audit is holding its second public hearing on Wednesday for the Committee’s inquiry based on Audit Report No. 48 (2017-18), Managing Compliance with Foreign Investment Obligations for Residential Real Estate.

The committee will hear from the Australian Taxation Office, the Department of the Treasury, and the Australian National Audit Office.

Committee chair, Senator Dean Smith, said the public hearing would assess the effectiveness of the ATO’s and Treasury’s management of compliance with foreign investment obligations for residential real estate.

“The committee will consider how foreign investment compliance arrangements by the ATO and Treasury were monitored and reported, and activities undertaken to address potential non-compliance.”

The JCPAA is Parliament’s joint public administration committee. It scrutinises the governance, performance and accountability of Commonwealth agencies, and has the power to inquire into all expenditure of Commonwealth money.

The Committee examines all reports of the Auditor-General tabled in the Parliament and can inquire into any items, matters or circumstances connected with these reports.

Further information about these inquiries can be accessed via the Committee’s website.

Public hearing: Wednesday, 28 November 2018, Committee Room 2R1, Parliament House, Canberra

9am to 10am: Audit Report No.48 (2017-18), Managing Compliance with Foreign Investment Obligations for Residential Real Estate

Witnesses: Australian Taxation Office, Department of the Treasury, and the Australian National Audit Office

The public hearing will be broadcast live at aph.gov.au/live. The hearing program is available from the Committee website.

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ACCC will not oppose Vossloh Austrak deal

THE ACCC will not oppose the proposed acquisition of Austrak by Vossloh Australia.Vossloh and Austrak are suppliers of rail track components.

Vossloh supplies rail fastening components and switch systems including turnouts, while Austrak supplies concrete sleepers and bearers.

“There is no horizontal overlap between the products manufactured and supplied by Vossloh and Austrak in Australia. There are vertical links, however, and this is what the ACCC’s investigation focussed on,” ACCC Commissioner Roger Featherston said.

The concrete sleepers that Austrak manufactures and supplies are manufactured to fit specific fastening systems, potentially including those manufactured by Vossloh. In addition, Austrak supplies concrete bearers to turnout manufacturers such as Vossloh for use in the production of turnouts. 

“The ACCC considered whether the proposed acquisition could enable the combined Vossloh-Austrak to lessen competition in either turnouts or fastenings by foreclosing its rivals,” Mr Featherston said.

The ACCC’s inquiries indicate there are alternative manufacturers of sleepers and bearers in Australia and some imports.

“After speaking with a range of industry participants, we consider that existing manufacturers of sleepers and bearers could expand their offerings, including by increasing production or expanding their geographic presence,” Mr Featherston said.

In relation to fastening components, industry participants also indicated that there was a very strong competing supplier, whose products are approved for use in most rail tracks, and is likely to continue to constrain Vossloh post acquisition.The ACCC also considered concerns raised about the possible disclosure of confidential turnout and fastening information to the combined Vossloh-Austrak, but did not consider that it would cause a substantial lessening of competition.

Austrak is a wholly owned subsidiary of Laing O’Rourke, and is the largest concrete sleeper manufacturer and supplier to the rail industry in Australia.Sleepers are rectangular supports that support the rails and uniformly transfer and distribute loads to the underlying ballast.Fastening components are used to connect rails to railway sleepers. \

Turnouts enable trains to move from one track to another. Bearers are similar to sleepers, but lie underneath turnouts instead of straight track and are specifically designed for each turnout.Austrak has concrete sleeper manufacturing facilities in four states (Qld, NSW, WA, Vic).

Vossloh is a subsidiary of Vossloh AG, a German rail technology company which manufactures and supplies rail infrastructure. In Australia, Vossloh supplies rail fastenings and switch systems, including turnouts which enable trains to move from one track to another. 

Vossloh does not manufacture or supply sleepers in Australia. It supplies fastenings in Australia for use with slab track and does not currently supply fastenings for use in ballasted track, although it has the ability to do so.

More information is available at Vossloh Australia Pty Ltd - proposed acquisition of Austrak Pty Ltd.

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Vision Super announces divestment from thermal coal, tar sands and tobacco

INDUSTRY super fund, Vision Super, today announced they will be divesting from tobacco, thermal coal and tar sands producers, in addition to their existing controversial weapons exclusion.

Chief executive officer Stephen Rowe said the fund has a decision-making framework and the board applied it after seeking the views of members.

“As a values-based fund, environmental, social and governance factors are important to us when we decide how to invest,” Mr Rowe said.

“Our ESG decision-making framework looks first to reduce harm through active ownership of shares, and the Board will only decide to divest if the evidence is clear that the harm of a particular product cannot be reduced.

“We also take into account the views of our members, through member forums, feedback and surveys.

“We already had considerably lower carbon intensity than the index across our portfolio, because we don’t believe markets are pricing in carbon risk appropriately – which could put members’ money at risk.

“But thermal coal and tar sands are two of the biggest contributors to climate change, and we don’t believe the risk of continuing to use them can be mitigated. Report after report tells us that if we don’t act now to keep temperature increases contained, future generations will suffer. So the board made the decision to exclude these.

“We also looked at tobacco through the same lens, and concluded that it’s not possible to minimise the harm of a product that kills its users, and the people around them. So the decision was made to exclude tobacco too.”

Vision Super is working on a strategy for prudently selling excluded stocks out of the portfolio.

The materiality threshold for divestment has been set at 25 percent of revenues, with a buffer of +-5 percent.

https://www.visionsuper.com.au/

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Australia's population to reach 30 million in 11 to 15 years

Based on current trends, Australia's population is projected to reach 30 million people between 2029 and 2033, according to the latest figures released today by the Australian Bureau of Statistics (ABS). 


Population projections are based on assumptions of future levels of fertility, life expectancy and migration, which are guided by recent population trends.

Anthony Grubb, Director of Demography at the ABS, said: "The projected time for the nation to grow by 5 million people on current indications will be similar, if not a little shorter, than the 14 years it took to grow from 20 million to 25 million.

"Looking further ahead, based on the medium of our three main projection assumption series, Australia could add a further 10 million to our current 25 million by the year 2043. 

"However under our higher range of fertility, mortality and migration assumptions the population would reach 35 million 5 years earlier in 2038. Conversely, under lower assumptions the population would only reach 35 million a decade later in 2053."

Historical and projected population of Australia

Under all assumptions, the population of New South Wales is projected to remain as the largest state with a population of between approximately 9 and 9.3 million. Victoria is projected to experience the largest and fastest increase in population; possibly reaching between 7 and 8 million by 2027. 

Queensland is projected to continue growing over the projection period, increasing to 6 million people in 2027. Western Australia is projected to increase to 3 million by 2027, while South Australia is projected to have slower growth, increasing to 2 million. 

The population of the Australian Capital Territory is projected to increase to between 479,000 and 510,000 people closing the gap on Tasmania's population which is projected to reach between 545,000 and 573,000 people in 2027. The Northern Territory is projected to increase to between 270,000 and 284,000 people in 2027.

Projected population, States and territories, at 30 June
Series A (a)
Series B (b)
Series C (c)
2027
2066
2027
2066
2027
2066
'000
'000
'000
'000
'000
'000
New South Wales
9 285
14 796
9 152
13 088
9 022
11 754
Victoria
7 908
14 525
7 694
12 030
7 497
10 091
Queensland
5 931
10 469
5 789
8 718
5 676
7 507
South Australia
1 866
2 437
1 853
2 214
1 838
2 040
Western Australia
2 935
4 926
2 941
4 760
2 928
4 493
Tasmania
573
744
559
581
545
453
Northern Territory
270
386
277
439
284
490
Australian Capital Territory
510
939
495
775
479
612
Australia (d)
29 284
49 226
28 766
42 608
28 274
37 444
(a) Higher assumptions of fertility, life expectancy, overseas and interstate migration flows.
(b) Medium assumptions of fertility, life expectancy, overseas and interstate migration flows.
(c) Lower assumptions of fertility, overseas and interstate migration flows, and a medium assumption of life expectancy.
(d) Includes Other Territories.
Selected population milestones, Australia, Series A, B and C
Population Milestone
Series A (a)
Series B (b)
Series C (c)
30 Million
2028/29
2030/31
2032/33
35 Million
2038/39
2043/44
2053/54
40 Million
2048/49
2058/59
. .
45 Million
2058/59
. .
. .
(a) Higher assumptions of fertility, life expectancy and overseas migration flows.
(b) Medium assumptions of fertility, life expectancy and overseas migration flows.
(c) Lower assumptions of fertility and overseas migration flows, and a medium assumption of life expectancy.


Further information is available in Population Projections, Australia, 2017 (base) to 2066 (cat. no. 3222.0) available for free download from the ABS website.


Multiplex is the 2018 National Builder Of The Year

MULTIPLEX has won the  award for the construction of Perth's Optus Stadium at the National Excellence in Building and Construction Awards on the weekend. 

The Awards recognise the project as the best in the country for 2018. 

“Multiplex had to beat fierce competition from other outstanding construction contractors and projects from the around the country to be recognised with this prestigious Award,” Denita Wawn, CEO of Master Builders Australia said. 

The leading builder and the landmark project also won the National Commercial/Industrial Construction over $100 million Award and the National Entertainment/Recreation Facility Award before taking out the top award at the Master Builders National Excellence in Building and Construction Awards at the Convention Centre in Adelaide over the weekend. 

“Multiplex’s work on Optus Stadium has resulted in a landmark project for the Perth and West Australian community,” Ms Wawn said. 

“The project was a mammoth undertaking and the result has exceeded the clients’ expectations,” she said.  

“With a vision of a stadium within a park, the scope of work on the project also consisted of hard and soft landscaping over an area of 41 hectares, including the design and construction of the Chevron Parkland and BHP Boardwalk and Amphitheatre to activate the area on both event and non-event days." 

John Gelavis, executive director of Master Builders Western Australia said, “The construction of Optus Stadium, a 60,000 seat multi-purpose venue, delivers an unrivalled stadium experience for Western Australia along with the surrounding Stadium Park.

“Designed with a fans first philosophy, it offers year-round community facilities including parklands, nature play areas, restaurants, an amphitheatre as well as a pedestrian and cyclist network,” Mr Gelavis said. 

www.masterbuilders.com.au

 

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QRC welcomes Co-ordinator General approval of MacMines Austasia project in Galilee Basin

THE Queensland Resources Council (QRC) has welcomed the Coordinator General’s decision to approve MacMines Austasia’s $6.7 billion China Stone coal mine in the Galilee Basin.

“Every new investment in the resources sector is good news for Queensland,” QRC chief executive Ian Macfarlane said.

“The resources industry adds $62.9 billion to the Queensland economy and supports 316,000 direct and indirect jobs.

“Our resources sector puts money in the bank for every Queenslander, from the Cape to the Gold Coast.

“It pays more than $4 billion in royalty taxes, which are used to build roads, schools and hospitals, and to pay the wages of hard-working teachers, nurses and police officers.

“The Queensland resources sector works hand-in-hand with regional communities and has a long history of co-existing alongside other important industries including agriculture and tourism.

“The economic value from the resources sector is created using just 0.1 per cent of Queensland’s land area, and our resources sector is committed to sustainable land use and rehabilitation.”

In the report on the MacMines project the Coordinator General said: "I conclude that there are significant local, regional and state benefits to be derived from the China Stone Coal project, and that environmental impacts can be acceptably managed, minimised or offset, through the implementation of the measures and proponent commitments outlined in the EIS."

Mr Macfarlane said new projects in the Galilee Basin would further strengthen the long-term outlook for the resources sector and provide direct benefits to nearby regions.

“That means more high-paying jobs for regional Queenslanders, especially in places like Mackay, Townsville and Rockhampton.

“There are up to six mines that could open in the Galilee Basin. That’s just the shot in the arm that regional towns need.”

www.qrc.org.au

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Qld small business entrepreneur grants program open for applications

ROUND four of the Queensland Government's Small Business Entrepreneur Grants Program is now open for applications, closing December 13, 2018.

The program helps new small businesses get off to a better start with access to planning, coaching and training.

Grants of up to $5,000, matched by participants, are available to help small businesses engage a consultant, advisor or business coach for up to three months, and businesses can choose their own consultant or advisor to work with.

https://www.business.qld.gov.au/starting-business/advice-support/grants/entrepreneur-grants

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QRC welcomes Co-ordinator General approval of MacMines Austasia project in Galilee Basin

THE Queensland Resources Council (QRC) has welcomed the Coordinator General’s decision to approve MacMines Austasia’s $6.7 billion China Stone coal mine in the Galilee Basin.

“Every new investment in the resources sector is good news for Queensland,” QRC chief executive Ian Macfarlane said.

“The resources industry adds $62.9 billion to the Queensland economy and supports 316,000 direct and indirect jobs.

“Our resources sector puts money in the bank for every Queenslander, from the Cape to the Gold Coast.

“It pays more than $4 billion in royalty taxes, which are used to build roads, schools and hospitals, and to pay the wages of hard-working teachers, nurses and police officers.

“The Queensland resources sector works hand-in-hand with regional communities and has a long history of co-existing alongside other important industries including agriculture and tourism.

“The economic value from the resources sector is created using just 0.1 per cent of Queensland’s land area, and our resources sector is committed to sustainable land use and rehabilitation.”

In the report on the MacMines project the Coordinator General said: "I conclude that there are significant local, regional and state benefits to be derived from the China Stone Coal project, and that environmental impacts can be acceptably managed, minimised or offset, through the implementation of the measures and proponent commitments outlined in the EIS."

Mr Macfarlane said new projects in the Galilee Basin would further strengthen the long-term outlook for the resources sector and provide direct benefits to nearby regions.

“That means more high-paying jobs for regional Queenslanders, especially in places like Mackay, Townsville and Rockhampton.

“There are up to six mines that could open in the Galilee Basin. That’s just the shot in the arm that regional towns need.”

www.qrc.org.au

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