THE Victorian Chamber of Commerce and Industry today launches its pre-budget submission to the State Government, outlining nine key recommendations that are vital to ensure success for Victorian businesses in 2017-18 and beyond.

A key recommendation of the Victorian Chamber’s submission is for Victorian agribusiness to be the next priority in the State Government’s small business regulation review.

The Victorian Chamber believes this must be done through a complete review of regulatory burdens facing those operating in the agribusiness sector.

Victorian Chamber of Commerce and Industry Chief Executive Mark Stone AM said specific reforms to red tape should be identified and implemented to support the industry.

“Victoria’s is known to be a producer of high quality food and fibre and simplifying regulatory processes must be promoted and prioritised to enable business expansion,” he said.

“Our state’s agribusiness producers have indicated that costly and unnecessary red tape needs to be addressed if we are to enable them to be more competitive at home and abroad.

“We must improve the regulatory process for agribusiness producers so it is not as complex and inconsistent as it currently is, across all three levels of government. If regulation is simpler and easier to navigate, our state will benefit from more innovation and business startups, and lift our reputation as a premium agribusiness producer.”

The Victorian Chamber is delighted that one of its longstanding recommendations, the North East Link, has already been committed to prior to the budget being handed down.

Other recommendations of the Victorian Chamber’s State Budget Submission are:

• Increase the payroll tax threshold to $850,000 by 1 July 2018
• Allocate $25 million to extend Back to Work to small businesses with turnover of less than $2 million
• Create a $5 million Export Insights program to help new exporters engage with international markets.
• Allocate $23 million a year to support Visit Victoria in regional, domestic and international marketing activities.
• Ensure expenditure growth does not exceed revenue growth.

About the Victorian Chamber of Commerce and Industry

The Victorian Chamber of Commerce and Industry, established in 1851, is the most influential business organisation in Victoria, informing and servicing more than 15,000 members, customers and clients around the state.

www.victorianchamber.com.au

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APPLICATIONS for the Horizon Scholarship are now open to first-year university students studying agriculture-related degrees. 

The Horizon Scholarship, an initiative of the Rural Industries Research & Development Corporation (RIRDC) in partnership with industry sponsors, provides $5,000 per year for the duration of a student’s university degree. Applications close on Friday, 24 February 2017.

The Horizon Scholarship also offers students annual industry work placements, access to industry leaders, professional development assistance, and opportunities to network and gain knowledge at a range of industry events.

RIRDC’s Managing Director John Harvey said the Horizon Scholarship provides real and practical benefits for the students involved and as a result will differentiate them from their peers.

“The students involved in the Horizon Scholarship are expanding their networks and learning new skills. Combined with easing the financial burden on students and families, the Scholarship is opening doors for these future agricultural leaders,” Mr Harvey said.

"The Scholarship attracts students who are collaborative, dynamic, passionate and want to be future leaders of Australia’s agricultural industries - it is special group of young people and we look forward to welcoming more of them into the Scholarship in 2017.”

To be eligible for the Horizon Scholarship students must be entering their first year of university and studying a degree related to agriculture, such as agricultural science, rural science, livestock/animal science, veterinary science or agribusiness and plant science. Students must also have started their tertiary studies no longer than two years after leaving high school.

Scholarship recipients will be selected on the basis of their commitment to a career in agriculture, as well as their leadership potential and high school academic record. 

Applications close on Friday, 24 February 2017 and shortlisted applicants must be available for a telephone interview in March 2017. The Scholarship winners will be announced in May 2017.

Application forms can be downloaded from the RIRDC website at www.rirdc.gov.au/horizon or by contacting RIRDC on 02 6923 6900.

Sponsors of the Horizon Scholarship are the Australian Egg Corporation, ANZ, the Cotton Research and Development Corporation, the Grains Research and Development Corporation, Horticulture Innovation Australia Limited, McCaughey Memorial Institute, Meat & Livestock Australia, Sugar Research Australia, and RIRDC (Rice and Chicken Meat research programs).

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THE Independent Review into the Future Security of the National Electricity Market, chaired by Australia’s Chief Scientist Dr Alan Finkel, is commencing a wide-ranging open public consultation process.

The Independent Panel’s preliminary report, released on 9 December 2016, included a number of observations and questions to guide these consultations. A blueprint informed by the public’s perspectives will be released in the first half of 2017.

“Electricity is the lifeblood of the nation and I encourage members of the public to share their point of view with the Review Panel,” Dr Finkel said.

The consultation sessions will be held on the following dates:

• Adelaide, Crowne Plaza Adelaide: 30 January 2017: 5 pm – 7 pm
• Brisbane, Sofitel Brisbane Central: 2 February 2017: 5 pm – 7 pm
• Melbourne, Ibis Melbourne Hotel and Apartments: 8 February 2017: 5 pm – 7 pm
• Hobart, Hotel Grand Chancellor: 13 February 2017: 5 pm – 7 pm
• Sydney, Karstens Sydney Function Centre: 15 February 2017: 5 pm – 7 pm

Members of the public are invited to attend the session in their capital city.

The Panel will also hold targeted meetings in capital cities for businesses, researchers, policy specialists and consumer groups involved with the energy sector.

Details on registering for public sessions and the targeted meetings are available on the Department of the Environment and Energy’s website.

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SMALL business payment terms, times and practices are in the spotlight thanks to an inquiry of the Australian Small Business and Family Enterprise Ombudsman, Small Business Minister Michael McCormack says.

NEARLY 600 participants attended yesterday the Official Launch of the International Year of Sustainable Tourism for Development 2017.

The event took place in the International Tourism Fair of Spain, FITUR, and will be followed by 12 months of global actions aimed at advancing sustainable tourism contribution to the 2030 Agenda for Sustainable Development.

Co-presented by Max Forster, CNN, and Raquel Martínez, RTVE, the event underlined the immense socio-economic opportunities brought by the sector to all societies as well as its power to advocate for mutual understanding, peace and sustainable development worldwide.

“Every day, more than three million tourists cross international borders. Every year, almost 1.2 billion people travel abroad. Tourism has become a pillar of economies, a passport to prosperity, and a transformative force for improving millions of lives. The world can and must harness the power of tourism as we strive to carry out the 2030 Agenda for Sustainable Development“ said United Nations Secretary-General, Antonio Guterres, in his message on the occasion of the International Year.

“2017 is a unique opportunity for us to promote the contribution of tourism to achieving the future we want – and also to determine, together, the exact role we will have tourism play in the sustainable development agenda, to and beyond 2030. A unique opportunity to ensure that tourism is a pillar in achieving the 17 Sustainable Development Goals (SDGs)”, said UNWTO Secretary General, Taleb Rifai, opening of the event.

“With the launch of the International Year of Sustainable Tourism for Development we once again emphasize that our nations all face common global challenges, which can only be resolved through advancing relations and furthering partnerships. By introducing this initiative, we have highlighted that Sustainable Development Goals (SDGs) are the focal point for future development, and will guide us to create long-term assets, and prevent relevant liabilities.”, said the Prime Minister of Georgia, Giorgi Kvirikashvili.

“The International Year of Sustainable Tourism for Development 2017 is an incentive to a foster social and political dialogue which can promote initiatives, investments and government actions leading to development and the fight against poverty” said the Vice-President of Honduras, Ricardo Alvarez Arias.

“The 2030 Agenda considers sustainable tourism as a vector of development, job creation and the promotion of local culture and products. Tourism is part of the Sustainable Development Goals and contributes decisively to almost all 17 Goals through its impacts on fighting poverty, promoting decent jobs, improving gender equality and the livelihoods of young people or the fight against climate change” said the Minister of Foreign Affairs and Cooperation of Spain, Alfonso María Dastis.

Addressing the Ceremony were also Nassir Abdulaziz Al-Nasser, High Representative for the United Nations Alliance of Civilizations, Francesco Bandarin, Assistant Director-General for Culture at UNESCO and Elzbieta Bienkowska, European Commissioner for Internal Market, Industry, Entrepreneurship and SMEs.

On the occasion, UNWTO announced the nomination of the Ambassadors of the International Year: HE Ellen Johnson Sirleaf, President of Liberia; HM King Simeon II; Huayong Ge, President, UnionPay; Dr Talal Abu Ghazaleh, Chairman, Talal Abu-Ghazaleh Organization and Dr Michael Frenzel, President, Federal Association of the German Tourism Industry

The event also marked the launch of the International Year campaign ‘Travel.Enjoy.Respect’, aimed at promoting sustainable tourism among travelers in partnership with CNN and RTVE.

Sponsors of the International Year

Official Sponsors: ANA, Balearic Islands; Global Tourism Economy Research Centre; Minube; Amadeus; Chimelong; Ras Al Khaimah; Ministry of Tourism of Colombia; Ministry of Tourism of Morocco, IFEMA/FITUR

Diamond: Ministry of Tourism of Mexico, Georgian National Tourism Board, Ministry of Culture and Tourism of Azerbaijan, The Travel Corporation, Capital Airlines, Eventísimo, Mastercard

Gold: German National Tourism Board (DZT), Turismo de Portugal, Valencian Tourist Agency, Catalunya Tourist Board, Global Geoparks Network, University of Applied Sciences HTW Chur – Institute of Tourism and Leisure, Intercontinental Hotels Group

Silver: JTB Corp, South Pole Group

Media Partners: CNN, RTVE, Travel Weekly

Portal of the International Year of Sustainable Tourism for Development

Travel.Enjoy.Respect Campaign

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THE Institute of Public Accountants (IPA) has welcomed the appointment of Michael Sukkar MP to the position of Assistant Minister to the Treasurer.

“Mr Sukkar will bring a great level of knowledge and experience to the role of Assistant Minister to the Treasurer given his professional background as an accomplished tax lawyer and demonstrated commitment to small business,” said IPA chief executive officer, Andrew Conway.

“We look forward to working with Michael to ensure the issues of smaller businesses and vital role that public accountants play in our community are at the forefront of policy considerations,” Mr Conway said.

About the Institute of Public Accountants

The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies.  In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than 35,000 members and students in over 80 countries.  The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants.  The IPA was recognised in 2012 as Australia’s most innovative accounting organisation and listed in the top 20 in the 2012 BRW Most Innovative Companies List.

publicaccountants.org.au

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THE Institute of Public Accountants (IPA) has voiced its support for the passing of the proposed Misuse of Market Power Bill.

“To date, the misuse of market power provision has not adequately protected small business, and by extension consumers, from the predatory actions of companies with substantial market power,” said IPA chief executive officer, Andrew Conway.

“Australia’s concentrated market structure means that some markets are not competitive and, where collective bargaining is not possible or sufficiently expeditious, small or medium sized businesses are especially vulnerable to exploitation or exclusion by firms with substantial market power.

“The IPA has continued to advocate for an ‘effects test’ to be introduced. So we are pleased that the Bill is consistent with the Harper Review in relation to misuse of market power and importantly, provides that a corporation with substantial market power must not engage in conduct having the purpose or likely effect of substantially lessening competition in that or any other market.

“The most significant deficiency with the current test is that, through narrow judicial interpretation of the phrase ‘take advantage’, it does not catch conduct by firms with market power, when the same conduct could have been carried out by a firm without market power.

“This fails to recognise that conduct capable of being engaged in by firms without market power has a greater propensity to foreclose the market and produce economic harm when it is engaged in by firms with market power.

“The proposed s46(1) in the Misuse of Market Power Bill is significantly more convoluted than that proposed in the Harper Report.  This has resulted from attempts to define, in some detail, the market or markets in which the substantial lessening of competition must occur.

“In particular, it specifies that the substantial lessening of competition must occur in the market in which substantial market power is held, or any other market in which it, or a related body corporate, supplies or acquires goods or services.

“The IPA believes this amendment to be unfortunate and that it unnecessarily complicates the law.  However, as it is not envisaged that this change will significantly diminish the scope of the provision, it does not alter the IPA’s support for the Bill.

“The Harper Report recommendation corrects the two key deficiencies in the existing legislation by removing the ‘take advantage’ element; and, expanding the focus of the provision to capture conduct having the effect of substantially lessening competition in a market.

“The proposed changes to section 46 as reflected in the Bill, represent a sensible and long overdue improvement to Australia’s misuse of market power laws.  Importantly, the shift of the focus to competition rather than competitors will help ensure that unilateral conduct by firms with market power cannot be permitted whether its design or effect is to substantially lessen competition,” said Mr Conway.

About the Institute of Public Accountants

The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies.  In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than 35,000 members and students in over 80 countries.  The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants.  The IPA was recognised in 2012 as Australia’s most innovative accounting organisation and listed in the top 20 in the 2012 BRW Most Innovative Companies List. 

pubblicaccountants.org.au

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