Business News Releases

Resource records reset with exports up $8 billion

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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Consultation open on the Great Barrier Reef cruise ship policy

PUBLIC feedback is being invited by the Great Barrier Reef Marine Park Authority on a draft policy for cruise ship operations in the Great Barrier Reef.

The Great Barrier Reef Marine Park Authority’s draft policy brings together all current management arrangements for cruise ships operating across the Reef and promotes ecologically- sustainable activities.

Great Barrier Reef Marine Park Authority Tourism and Stewardship Director Fred Nucifora welcomed feedback on the draft policy.

“A review of this policy is timely to recognise the changing needs of industry and the community,” he said.

“The draft encourages the cruise ship industry to contribute to protecting the Great Barrier Reef and recognise its outstanding universal value when conducting operations in this World Heritage Area.”

Key amendments include:

  • Adopting a joint management approach with Queensland Parks and Wildlife Service that applies to both the Great Barrier Reef Marine Park and the Great Barrier Reef Coast Marine Park
  • Strengthening and encouraging best practice including stewardship opportunities with Traditional Owners.Clarifying the application of the Environmental Management Charge (EMC) to cruise ship operations conducting extended tours Providing policy statements for existing management arrangements in legislation, plans of management and permit practice, and proposing some improvements which would involve future legislative amendments such as: 
    • Proposing the definition of a ‘cruise ship’ be ‘70 metres or over’ for permits, plans of management and legislation Extending the plans of management requirement for bookings to designated anchorage to anchorages outside of the planning areas (currently only permit practice)
    • Including domestic and international obligations for waste management and ship activities in the Great Barrier Reef.

The revisions were made with input from the tourism industry and government agencies and describe best practice management and clarifies cruise ship access to the Great Barrier Reef, waste discharge, compliance, environmental management charge and permitting arrangements.

The Marine Park Authority will consult further with the tourism industry, cruise ship permittees and Traditional Owners while the draft policy is open for public feedback.

To comment on the draft policy visit www.gbrmpa.gov.au. Consultation is open until 5.00pm Friday 14 July 2017.

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House Economics Committee report into tax deductibility

THE House of Representatives Standing Committee on Economics today presented the report of its inquiry into Tax Deductibility.

The committee’s review focused on enhancing compliance in relation to tax deductions. Committee Chair, Mr David Coleman MP, said ‘the ATO identified $100 million of abuse in a single year through a review of the Work Related Expenses claims of about one in one thousand taxpayers. The committee sees considerable scope for improvement in this area and has recommended the ATO review its compliance activity in relation to WREs.’

In addition, the committee has recommended that the ATO undertake a detailed review of tax deductions to identify areas that are open to systemic abuse and overclaiming, and recommend amendments to law or policy where appropriate.

Mr Coleman said ‘while the committee sees opportunities to improve the operation of the tax system, and has recommended changes to strengthen compliance, the committee supports the ongoing ability of Australians to claim legitimate deductions.’

The committee recommended:

  • The Australian Taxation Office (ATO) review its compliance activity in relation to WREs.
  • The ATO be instructed to analyse each detailed subcategory of tax deductions and identify areas that it believes are particularly open to systemic abuse and overclaiming, ranking these in order of the size of the financial risk they represent to Government revenue, and recommending amendments to law where appropriate.
  • As matter of priority, The Treasury provide a clear estimate of the actual cost to Government revenue of WREs so as to properly inform policy in this area.
  • The ATO continue with technological development and progress on pre-filling of returns to support the implementation of the reform agenda and to simplify taxpayers’ interaction with the tax system, with the eventual goal to minimise, and ultimately remove, the need for taxpayers to amend pre filled returns.
  • The Government continue its important work on the implementation of the G20/OECD Base Erosion and Profit Shifting (BEPS) recommendations to further strengthen Australia’s rules addressing tax integrity.

The report can be accessed from the Committee’s website.

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

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New coal technology part of LNP’s approach says resources council

THE Liberal National Party’s (LNP) support for a new ultra-supercritical coal-fired power station in North Queensland would deliver essential base load power and help to create hundreds of regional jobs, according to the Queensland Resources Council (QRC).

"In its 2017 Budget reply speech, the LNP’s pragmatic approach to the energy mix would secure cost-effective electricity with new coal technology for North Queensland and the state," QRC chief executive Ian Macfarlane said.

"If this region is to develop to its full potential and be the powerhouse of northern Australia, it must have its own stable power generation near Townsville to support the investments being made in hydroelectric and solar farms.

"The Palaszczuk Government turned away from a technology neutral approach and ruled out high efficiency, low-emission (HELE) plants in its energy plan, despite the global investment into the latest coal-fired power generation in countries such as Japan, Germany, China and India," Mr Macfarlane said.

"There are more than 1,000 of these HELE units currently delivering reliable and affordable electricity around the world and more than 1,200 planned, or under construction. Queensland has substantial reserves of high-quality, lower emission coal and it should take advantage of this resource to increase its international competitiveness.

"Growing the economy and attracting industry and jobs is a great way to make sure North Queensland grows."

www.qrc.org.au

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Tax reform for the 21st century

THE Tax and Revenue Committee will hear from tax policy advisor Richard Highfield at the next public hearing for the inquiry into taxpayer engagement with Australia’s taxation system.

Committee chair Kevin Hogan MP said that tomorrow’s meeting will provide an opportunity to grapple with some of the more complex issues in the tax engagement debate with a former ATO Second Commissioner.

Mr Hogan said that Mr Highfield, now an adjunct professor with the School of Taxation and Business at the University of New South Wales, has extensive experience in tax policy design, development and administration.

Over the course of two decades, the professor held key advisory roles with the OECD, the World Bank, the Asian Development Bank and the International Monetary Fund. He is currently a member of expert advisory panels to the ATO and the NSW Office of State Revenue on tax gap research programs.

“The committee looks forward to receiving expert guidance from one of Australia’s senior tax advisors,” Mr Hogan said.

“Taxation law is complex and regulators must be careful that reforms do not have unintended consequences; even opening up loop holes for criminal activity. At the other end of the scale, how do we promote the message that paying your taxes is worthwhile, both for your business and the community?”

Public hearing details: 4:15pm – 5.30pm, Wednesday 14 June 2017, Committee Room 2R1 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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Going driverless on the land and in the city

HOW will driverless vehicles affect agriculture and regional Australia? How will their presence be felt in Australia’s capital cities?

The Innovation Committee’s driverless vehicles inquiry aims to find out at a hearing in Canberra today.

Committee Chair Michelle Landry MP says the potential effects of the introduction of driverless vehicles in Australia are wide ranging.

“From the farm to the city, we can expect driverless vehicles to shape industries, employment, and access to services and communities,” Ms Landry said.

“The Committee will also consider the environmental impacts in both rural areas and cities.”

The public hearing will include witnesses from the National Farmers’ Federation and the Council of Capital City Lord Mayors.

The Committee will also be hearing from academics to discuss some of the likely impacts of driverless vehicles, including public acceptance, ethics questions, health benefits and broader social changes that access to driverless vehicles might affect.

This hearing will be the ninth the Committee has held for its inquiry into the social issues relating to land-based driverless vehicles in Australia.

Public hearing details: 10.45am – 12.30pm, Wednesday 14 June, Committee Room 1R1, Parliament House, Canberra

10.45 – 11.25am: Dr Damith Herath, Human Centred Technology Research Centre, University of Canberra and Professor Simone Pettigrew, School of Psychology and Speech Pathology, Curtin University.
11.25am – 11.55am: Council of Capital City Lord Mayors
11.55am – 12.30pm: National Farmers’ Federation
12.30pm: Close

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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Key agencies to appear in Canberra for the Australian film and television industry inquiry

THE House Standing Committee on Communications and the Arts will hold its first public hearing in Canberra on Friday, June 16, as part of its inquiry into the Australian Film and Television Industry.

Committee chair, Luke Howarth MP said, “Digital technology and a rapidly changing media environment have both provided challenges and opportunities for those involved in the film and television industry.”

“There are a number of public hearings scheduled and these will offer a valuable chance to drill down on the issues that either threaten or support a sustainable film and television industry in Australia.

“This first Public Hearing in Canberra will enable the key government agencies and our two public broadcasters to provide direct input into this inquiry”: Mr Howarth said.

Public hearing details: 9:30am to 3:30pm, Friday 16 June, Committee Room 1R3, Parliament House, Canberra

9.30am: Department of Communications and the Arts
10.30am: Australian Communications and Media Authority
11.30am: Australian Broadcasting Corporation
12.30pm: Lunch break
1.15pm: Special Broadcasting Service
2.15pm: ACT Screen Industry Association
2.40pm: Academy of Interactive Entertainment
3.05pm: Federation of Ethnic Communities' Councils of Australia
3.30pm: Finish

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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Minerals Council of Australia to discuss growing Australia’s nearly $5 billion worth of minerals and energy exports to the UK

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

The Minerals Council of Australia (MCA), which is the peak industry body for the Australian mining sector that exports nearly $5 billion worth of minerals and energy to the UK, believes the decision by the UK to Brexit from the European Union may create some uncertainties for companies looking to London as a global trading hub for gold, silver and other industrial metals.

The MCA’s submission to the inquiry states the Australian government needs to consider how entering into negotiations for an FTA with the UK may impact on other Australian trade priorities.

According to the MCA submission, the City of London is also one of the world’s most significant financial centres providing important capital for the Australian mining sector so any changes to its role may impact on future investment. The MCA believes the monetary threshold which triggers screening of business investments from the UK should be increased from $252 million to the $1,094 million that applies to investors from FTA partner countries.

Public hearing details: 10:05am - 11:00am, Wednesday 14 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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Bringing back the BIFF: Brisbane International Film Festival returns for 2017

THE Brisbane International Film Festival is set to return in 2017 with an invigorated screening program, the support of the Queensland Government through Screen Queensland and the expertise of industry partner Palace Cinemas.
 
The Brisbane International Film Festival, to be held from August 17 to September 3, will be co-directed by experienced film curator Richard Sowada and Brisbane’s Maxine Williamson, previously film director of the Asia Pacific Screen Awards and the Brisbane Asia Pacific Film Festival.
 
Palace Cinemas will host BIFF at its two Brisbane locations and will also provide infrastructure support to the organisation.
 
 “I haven’t seen a period of more change, excitement and challenge in the film industry than in the last 18months” BIFF co-director Richard Sowada said.

“A breaking down of creative and business territoriality and a real sense of political and artistic immediacy has changed the face of what a festival needs to be and what audiences expect from cinema. Being part of the new BIFF team and bringing that freshness, excitement and creative propulsion to Brisbane in a reinvigorated event is thrilling for me - and I hope for audiences.” 
 
Co-director Maxine Williamson said, “I am so happy we are 'rebooting the BIFF!' - Brisbane's iconic and popular world film festival with an international reputation for showcasing new and emergent talent, award-winners from the circuit and crowd-pleasers from across the globe. We will continue BIFF's long legacy of presenting films that expand our hearts and minds, that educate us about our region and closest neighbours, that comment on what cinema is and can be.

"The 23rd edition of BIFF provides an important platform for filmmakers to present their artistic responses to what is happening in their worlds. I look forward to engaging with industry in a meaningful way and to contribute to the growth of this vibrant creative arts sector. As a Brissie girl I am happy to play a part in this celebratory reboot.”
 
Screen Queensland CEO Tracey Vieira welcomed the new iteration of BIFF to the state’s 2017 calendar of film festivals.
 
“It is wonderful to see a flagship international film festival once again taking place in Brisbane,” Ms Vieira said.
 
“It is envisioned that the new BIFF will be an annual event.  Screen Queensland’s investment, along with the festival’s solid partnership with Palace Cinemas, will help to ensure the 2017 event is a success, and will pave the way for future BIFFS,” she said.
 
Palace Cinemas founder Antonio Zeccola said, “It’s a great honour for Palace Cinemas to be associated with such an important and highly regarded event as BIFF and play host to their screening program as a principle partner. For a city the size and sophistication of Brisbane an international film festival is an essential element in the cultural mix and we’re keen to do what we can to facilitate and explore these great cinematic possibilities”.
 
Mr Sowada and Ms Williamson said that the 2017 Festival will be the forerunner of an event that continues to build in the years to come. 

The 2017 program will screen around 60 international and Australian films and will include collaborations with existing Queensland screen culture organisations including the Asia Pacific Screen Awards (APSA), a Queensland Short Film Competition, a free family event, national and international guests, talks, panels and seminars. 
 
www.biff.net.au
 #BIFF2017
 FACEBOOK facebook.com/brisbaneinternationalfilmfest
 TWITTER @brisintfilmfest
 INSTAGRAM @brisintfilmfest

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Retailers fight for tax fairness

THE Australian Retailers Association (ARA) are commencing an advertising campaign on behalf of the retail sector in various major national newspapers this morning, calling on the Government to pass the low value GST legislation which will be in front of the Senate today.

Russell Zimmerman, Executive Director of the ARA said they have been working with the Federal and State Governments to reduce the low value threshold and provide a level playing field for Australian retailers.

“Australian retailers are continually having to pay GST while their foreign counterparts do not, and local online and bricks-and-mortar retailers are sick of the constant delays in implementing this tax equality issue,” Mr Zimmerman said.

“We do not want to take away the right for consumers to purchase from overseas, however we do need to provide a level playing for Australian retailers.”

“This tax equity issue has been going on for years, now the legislation is in front of the Senate, smaller mum and dad retailers are demanding the legislation to be passed.”

Mr Zimmerman said Australian retailers have banded together and are willing to call out those who do not support tax fairness for local retailers.

The ARA strongly support the new legislation before Parliament, and call on the Senate to support small Australian businesses, and level the unfair playing field against international competitors.

“The retail industry is already operating in a tough environment and any delay to this much-needed legislation will significantly affect employers and employees working in this sector,” Mr Zimmerman said.

“We strongly support this proposed GST model and will continue to put pressure on those who oppose the immediate implementation of the low value GST legislation.”

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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Bipartisanship necessary to end native title limbo

THE Queensland Resources Council is calling for a show of bipartisanship from the federal Coalition and the Labor Party to ensure legislation currently before the Senate is passed to amend the Native Title Act in the Senate on Tuesday.
 
The Native Title Amendment (Indigenous Land Use Agreements) Bill 2017, has been used as a political football by some politicians and many green activists and has been hanging in limbo since the Bill’s introduction in the House of Representatives in February.
 
The Bill was in response to the McGlade judgment in the Full Federal Court on 1 February, which held that all named applicants on a registered native title claim must sign the ILUA as a condition precedent to its registration.
 
The judgment made no exceptions for deceased or incapacitated applicants and the ILUA would be rendered invalid if it was not signed by 100 percent of registered applicants. Prior to McGlade, obtaining the majority of applicants’ signatures was sufficient to have the ILUA registered.
 
QRC Chief Executive Ian Macfarlane said the scenario meant that current and future ILUAs could be at risk.
 
“I call on all politicians from all sides of politics to raise above politics and work to continue to pass the amendments through the Senate. If the amendments don’t pass, there is the potential to affect hundreds of mining leases in Queensland and cost thousands of jobs,” Mr Macfarlane said.

www.qrc.org.au

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