SAFETY, employment, legal concerns, public transport, infrastructure needs, access and equity and Australia’s role in driverless vehicle technology – all topics are on the table as the parliamentary driverless vehicle inquiry holds its final public hearing in Canberra this morning.

The Industry, Innovations, Science and Resources Committee will be hearing from the Department of Infrastructure and Regional Development and the Department of Industry, Innovation and Science as it wraps up its public hearings for its inquiry into the social impacts of driverless vehicles.

The Committee has heard from 30 organisations and individual witnesses and held four inspections over the course of the inquiry.

Committee Chair Michelle Landry MP commented that members of the Committee were looking forward to being able to follow up with the two departments on some of the questions that have arisen throughout the inquiry.

“We have heard from a wide range of stakeholders – from manufacturers, regulators, industry groups, academics and many others – about the social issues relating to driverless vehicles," Ms Landry said. 

"Today we will get the chance to discuss some of the issues we’ve heard about with representatives of the Commonwealth departments responsible for infrastructure and industry and innovation.”

Public hearing details: 10.45am – 12.30pm, Wednesday 21 June, Committee Room 1R3, Parliament House, Canberra

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

Interested members of the public may wish to track the committee via the website. 

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PARLIAMENT's Joint Standing Committee on Northern Australia will hold public hearings at Airlie Beach and Hamilton Island for its inquiry into Opportunities and Methods for Stimulating the Tourism Industry in Northern Australia on Sunday 25 June and Monday 26 June 2017.

The region recently bore the brunt of Cyclone Debbie and the tourism industry has rebounded and is gearing up for the 2017 season.

The Committee Chair, Warren Entsch MP, said North Queensland has bounced back after Cyclone Debbie and the Committee will be talking to the major tourism operators in the region.

“A wide variety of tourism experiences are offered in the Whitsunday Islands including island resorts and small businesses on the mainland. In the face of extreme weather events, business resilience is key to the success of an industry that is vital to the local economy,” Mr Entsch said.

The Committee will receive evidence from resort operators and small tourism operators on the mainland as well as from the region’s tourism representative bodies.

Public hearing details:

HAMILTON ISLAND: 9.45 am to 1.00 pm, Sunday, 25 June 2017, Ketch Room, Yacht Club, Hamilton Island

AIRLIE BEACH: 9.45 am to 2.35 pm, Monday, 26 June 2017, Mantra Club Croc, Shute Harbour Road, Cannonvale

The hearing will be broadcast live (audio only) at aph.gov.au/live.  

The hearing program and further information about the Committee’s inquiry, including the terms of reference is available on the Committee’s website.

Interested members of the public may wish to track the committee via the website. 

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HOW should Brexit affect the work of Australian lawyers in the United Kingdom? At a hearing in Canberra today, the Law Council of Australia will have its say.

The Trade Sub-Committee of the Parliament’s Joint Standing Committee on Foreign Affairs, Defence and Trade will hear from the Law Council at a public hearing today for its inquiry into Australia’s trade and investment relationship with the United Kingdom.

The Law Council, which is the peak representative body for the Australian legal profession, believes the decision by the UK to leave the European Union should not diminish the current level of access for Australian lawyers into the UK and should potentially expand access.

The Law Council’s submission says any proposed trade agreement with the UK should recognise the importance of multi-jurisdictional legal services in facilitating two-way trade and investment without costly legal disputes and possible failure. It supported the free movement of legal service providers from Australia and the UK.

The submission also raises concerns that as a consequence of Brexit, Australian legal firms and lawyers may no longer be in a position to recommend their clients to set up companies in the UK under the laws of England and Wales due to the uncertainties of post-Brexit trading rules and tariffs when trading with the EU.

Public hearing details: 10:05am - 11:00am, Wednesday 21 June, Committee Room 2S1, Parliament House, Canberra

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

Interested members of the public may wish to track the committee via the website. 

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RACING Queensland CEO Dr Eliot Forbes has welcomed the decision by The Australian Competition Tribunal to approve the $11 billion combination of Tabcorp and Tatts Group.

The decision was handed down by Justice Middleton of the Australian Competition Tribunal at the Federal Court in Melbourne this morning.

Dr Forbes said the Tabcorp-Tatts combination will deliver for the Queensland Racing Industry.

"This combination provides greater certainty for the racing industry in this state," Dr Forbes said.

“RQ signed a deed of understanding with Tabcorp in March to ensure that the merger would bring meaningful benefits to the Queensland racing Industry.”

As part of the Deed of Understanding Tabcorp committed to an increase in capital investment in the Queensland wagering business (currently UBET) across retail and on-course wagering facilities, as well as committing to implementing increases in investments in technology, sponsorships and marketing.

“The majority of our funding comes from the Queensland wagering business, so this agreement is important to underpin future returns.”

The combined Tabcorp-Tatts business will assist with investment in infrastructure and product and channel innovation to enhance the digital and retail customer experience, driving further growth for Queensland racing.

“RQ is looking forward to working with Tabcorp to grow and enhance the Queensland racing industry,” said Dr Forbes.

www.racingqueensland.com.au

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THE Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has encouraged small business operators to take advantage of the Government’s instant asset write-off extension.

More businesses are now eligible to buy equipment (new or second hand) up to $20,000 and write it off immediately after legislation passed the Senate. Multiple claims can be made under the program.

Small business has also been redefined for tax purposes as having a turnover less than $10 million, up from $2 million.

Ombudsman Kate Carnell welcomed the changes.

“The instant asset write-off program enables small business to immediately deduct assets costing less than $20,000 instead of claiming deductions over a number of years,” she said.

“This is a welcome incentive for small business to invest, which provides benefits for the broader economy and employment.”

Ms Carnell said anecdotal evidence suggested only a small proportion of eligible businesses were taking advantage of the opportunity.

“I encourage small business operators to invest before June 30 and claim the tax deduction,” she said.

Assets that cost $20,000 or more can't be immediately deducted.

Ms Carnell said small businesses in some industries would generally require assets above the $20,000 threshold.

“Effectively, this means that some industries are disadvantaged,” she said.

“It makes more sense for the threshold to be raised so that all businesses can benefit, upgrade their assets and continue to grow to benefit the economy.

“I will continue to urge the Government to lift the $20,000 threshold because for some industries, like farming, it’s too low for them to purchase equipment.”

www.asbfeo.gov.au

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THE Australian Retailers Association (ARA) congratulated the Parliament for passing the low-value GST for offshore tangible goods under $1000 as it said this legislation would improve tax fairness for Australian retailers.

Russell Zimmerman, Executive Director of the ARA, said they have been working with the Federal and State Governments since 2008 to reduce the Low Value Threshold (LVT) and provide a level playing field for Australian retailers.

“Today the Australian retail industry received a big win, as this much-needed GST will significantly assist our local retailers when trading against our international counterparts,” Mr Zimmerman said.

“This new legislation will create a fairer tax system for Australian retailers who are currently operating in a tough trading environment.”

The ARA congratulate the Parliament for passing this Bill but are extremely disappointed that the legislation won’t be implemented until July 1, 2018.

“We are disappointed there will be a 12 month delay before overseas retailers start collecting this tax, but we look forward to Australian retailers finally being given a fair chance,” Mr Zimmerman said.

“This legislation will mean our local retailers will be able to trade on the same level playing field as our international competitors.”

The ARA will continue to work with the Government and Productivity Commission to seek the most efficient system in collecting this GST.

“We will be talking to our members to ensure this legislation is implemented correctly,” Mr Zimmerman said.

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $310 billion sector, which employs more than 1.2 million people. The ARA 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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The Australian Retailers Association (ARA) has commended the NSW Government for delivering a Budget that focuses on infrastructure, while running a surplus in 2016-17.

ARA Executive Director, Russell Zimmerman said the NSW State Budget builds on economic strength for the state, assisting retail sales growth while supporting retail businesses and employment through continued skills funding and tax relief.

“The 2017-18 Budget released today focuses on delivering infrastructure projects that NSW communities need, with long term holes in infrastructure slowly being fixed for the first time in decades,” Mr Zimmerman said.

From January next year, businesses with an annual turnover of less than $2 million will be exempt from paying duties on insurance for work vehicles, professional indemnity and public liability.

The ARA also welcomes the increased support for the Business Connect Programme in helping small businesses to plan and adapt.

“As always, the industry needs the Government to further reduce business taxes to sustain retail growth,” Mr Zimmerman said.

“The tax cuts on business transactions is an important step for retailers making decisions to improve their operations.”

The ARA further congratulates the NSW Government for their $96 million commitment to the Jobs for NSW initiative which ARA members have participated in to stimulate jobs growth across NSW.

Retailers will also welcome stamp duty cuts with exemptions for homes worth up to $650,000, and discounts for purchases up to $800,000 for new homebuyers as these initiatives will stimulate consumer spend.

“These business cuts, along with the homebuyers’ stamp duty cuts will help grow retail spend across the industry,” Mr Zimmerman said.

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $310 billion sector, which employs more than 1.2 million people. The ARA 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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THE latest figures from the resource industry shows records tumble with an $8 billion increase in exports, however it’s not all good news as the Queensland Resources Council’s (QRC) quarterly sentiment survey highlights concerns about government policy uncertainty.

Every quarter, the QRC conducts its CEO sentiment survey that reveals what Queensland resources chiefs predict will affect their businesses over the coming year.

QRC Chief Executive Ian Macfarlane said the latest results showed, that for the fifth quarter in a row, regulatory uncertainty was the chief concern for the resource bosses.

“The most recent data shows that Queensland’s resource industry is alive and kicking, as records tumble with the QRC’s State of the Sector value index soaring a massive 78 percent in the December 2016 quarter, to the highest level on record,” Mr Macfarlane said.

“In the December 2016 quarter, the value of Queensland’s resource exports grew by an extraordinary $8 billion dollars, which is enough to build 24 new stadiums for Townsville, or two and half times the amount needed to pay the Solar Bonus Scheme’s stream of subsidies out to 2028.

“With Queensland’s population just under five million people, $8 billion is the equivalent of each of us getting a cheque for a $1,600.

“Over the past decade, the value of Queensland’s resources has tripled. That’s an extraordinary achievement that should see the industry feted as the backbone of the state’s economy.

"The impressive performance was driven by strong price increases for coking coal, thermal coal, lead, zinc and copper. Sadly however, it was not all good news in the report, the CEO sentiment index tells a different story and delivered mixed results.

“The impact of poor or uncertain regulation continues to act as a wet blanket for industry and has been the number one concern for member CEOs for five consecutive quarters, who warn that the real pain from regulatory uncertainty is felt in the long term,” Mr Macfarlane said.

Some of the member company CEO quotes include:

“Government policy is very volatile at present and it is difficult to allocate long lead capital with any certainty the legislation will be the same when the projects are delivered.”

“Resource industry companies need greater certainty with respect to regulation in order to commit to projects.”

“The current regulatory environment in Queensland is dreadful – in particular the environment department is acting as a ‘policeman’ rather than collaboratively working with companies to identify and resolve potential issues.”

Mr Macfarlane said, while the macro-economic outlook and access to capital had improved by 10 and 25 percent respectively since the March quarter 2016, the global macro-economy and social licence to operate remain major concerns for member CEOs.

www.qrc.org.au

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