Business News Releases

ATO must improve handling of tax disputes

THE ATO handles most disputes satisfactorily; however some disputes go off the rails, according to a report tabled today by Chair of the House Tax Committee, Bert van Manen MP.

The committee inquiry found that some disputes can go awry because of the ATO’s strong powers, the fact that the ATO does not engage with taxpayers, and that the ATO’s investigators and reviewers, for the great majority of disputes, are located in the compliance area of the ATO.

The committee Chair said poorly managed disputes had severe consequences for taxpayers.

“The committee received evidence that taxpayers suffer enormous emotional stress. Disputes can contribute to marriages breaking-up.”

The report, which focuses on small taxpayers and individuals, acknowledges the improvements that the ATO has made over the last few years. However, the committee believes that the ATO can build on these reforms with further actions.

A key recommendation is that the Government should create a new Second Commissioner to manage objections and litigation independently from the compliance and legal areas of the ATO. Further, the ATO should:
• have more robust protocols on communication between auditors and objections officers
• have more robust processes for making allegations or findings of fraud or evasion
• have the burden of proof in relation to fraud or evasion after the statutory record-keeping period has expired
• be more reasonable in terms of deadlines and volumes when making information requests of taxpayers
• consider having a direct discussion with taxpayers at the various stages of a dispute.

Mr van Manen said, “The ATO is a well-run, highly professional organisation, and the vast majority of disputes are handled in an appropriate and fair manner. The committee does not wish this report to be seen as lessening the ATO’s role in collecting revenue legally due. However, there is scope for improvement and full implementation of the committee’s recommendations will produce a fairer tax system, leading to better outcomes for taxpayers and also for the ATO.”

http://www.aph.gov.au/taxrev

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ARA eftpos Australian Retail Awards now open

THE Australian Retailers Association (ARA) is calling on all retailers to enter now for the 2015 eftpos ARA Australian Retail Awards.

The ARA Awards are now officially open across eleven categories and designed to celebrate success across the entire retail industry. As Australia’s first and largest national retail awards program, the ARA Awards have now celebrated Australia’s leading retailers for over 40 years.

“The ARA Awards have become something of an icon,” said ARA Executive Director Russell Zimmerman.

“Each year, the ARA Awards capture stories of hardworking and innovative retailers who are thriving despite daily challenges. The ARA Awards provide retailers with the valuable opportunity to showcase their business on a national stage and demonstrate just how focussed they are on their customers and the communities in which they operate.

“While business conditions remain less than ideal, 2015 is shaping up to be an exciting year and it’s important for us as an industry to unite and celebrate all of the hardworking retailers across the country.
 
“The 2015 ARA Awards are shaping up to be bigger and better than ever before, and we look forward to recognising those that are reinventing the retail industry at the Awards Breakfast ceremony on Thursday 2 July in Melbourne.

“There is an award category to suit every retailer - from our HR superstars, retail graduates and mum-and-dad owner operators, right through to those who have completed an amazing retail store fit-out or those leading the way in retail payment technologies. Of course, we’re also looking for the ‘Retailer of the Year,’ ‘Innovator of the Year’ and ‘Retail Employer of the Year’ among others. You’ve got to be in to win!” Mr Zimmerman said.

This year, the ARA Awards are again proudly supported by eftpos as the events major sponsor. eftpos Managing Director Bruce Mansfield said he hoped to see a record number of retailers enter this year’s awards and share their inspiring success stories.

“eftpos is proud to support these awards because they recognise the extraordinary work that is done by the hundreds of thousands of retailers who serve Australian communities every single day,” Mr Mansfield said.

ARA Retail Awards -  key information and dates:

WHAT: 2015 eftpos ARA Australian Retail Awards
WHEN: Entries now open and due by Friday 8 May 2015
(Winners will be announced at the ARA Awards Breakfast in Melbourne on 2 July 2015)
TO ENTER: Visit www.australianretailawards.com.au to view eligibility criteria and select from twelve award categories
MORE INFORMATION: Phone 1300 368 041 or email This email address is being protected from spambots. You need JavaScript enabled to view it..


ARA Award categories:

  • eftpos Australian Retailer of the Year
  • BDO Australian Retail Employer of the Year
  • The Realise Group Australian Independent Retailer of the Year
  • Pronto Software Australian Retail Innovator of the Year
  • Expr3ss! Staff Selection Software Australian Retail Graduate of the Year
  • NORA Australian Multichannel Retailer of the Year
  • FCB Australian Retail HR Rising Star of the Year
  • Rest Industry Super Individual Retailer of the Year
  • Roy Morgan Customer Satisfaction Retailer of the Year
  • Shop for Shops Australian Retail Store Fit-out of the Year
  • MasterCard Australian Retail Payments Leader of the Year

 

With thanks to our sponsors:
Major event sponsor: eftpos
Category sponsors: Expr3ss! Staff Selection Software, Roy Morgan, BDO, The Realise Group, Pronto Software, NORA, FCB, Rest Industry Super, Shop for Shops and MasterCard
Major media partner: Inside Retail
Media partners: SmartCompany, Retail Biz and Crowther Blayne

Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041.

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Encouraging employment in the small business sector

BARRIERS to employment for private sector small businesses, including government laws and regulations, excessive red tape and compliance costs, will be investigated in a new inquiry commenced today by Parliament’s Standing Committee on Education and Employment.

The committee will also consider why particular groups—young job seekers, mature age Australians, those in regional areas and those with a partial work capacity—may be discouraged or prevented from working for small businesses, and how these barriers can be overcome. 

Committee Chair, Ewen Jones, said that reducing red tape and other inhibitors to employment can have a positive effect on the nation’s productivity and increase employment opportunities, which is critical for those who are at a disadvantage in today’s job market.

“Reducing the rate of unemployment is high on this government’s agenda. Identifying the challenges that exist for employment in small business and the best way to meet these challenges will be another step forward in providing jobs and job security.

“The committee expects to receive compelling evidence on these crucial issues,” Mr Jones said.

Submissions to this inquiry are welcome. For further information, including the full terms of reference and how to prepare a submission, please visit the committee’s website at www.aph.gov.au/SmallBusinessEmployment or contact the secretariat on (02) 6277 4573.

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Inquiry into circumvention of anti-dumping laws

The House of Representatives Agriculture and Industry Committee will conduct a public hearing tomorrow, Thursday, 26 March 2015, for the inquiry into circumvention of anti-dumping laws.

Appearing at the hearing for the inquiry will be representatives from the Anti-Dumping Commission and the Department of Industry.

The hearing will be held in Committee Room 1R1, Parliament House, Canberra:
Thursday, 26 March 2015
12.15 pm Anti-Dumping Commission & Department of Industry
1.30 pm Close

The public hearing will be webcast live at: http://www.aph.gov.au/News_and_Events/Watch_Parliament

Further details about the inquiry, including submissions received and the terms of reference, can be obtained from the Committee’s website at: www.aph.gov.au/agind

For further information please contact the secretariat on (02) 6277 4500, email This email address is being protected from spambots. You need JavaScript enabled to view it.

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Tax deductible advice to help with better retirement outcomes - IPA

 

THE Government’s Intergenerational Report (IGR) indicates the need for better retirement planning and therefore, appropriate financial advice is essential, says the Institute of Public Accountants (IPA).

“The Intergenerational Report concludes that there will only be 2.7 working Australians to support every Australian over the age of 65 by 2055. Competent and affordable financial advice will be an essential ingredient in paving the way to sustainable retirement incomes and to help alleviate over-reliance on government funded pensions," said IPA chief executive officer, Andrew Conway.

“Allowing Australians to claim a tax deduction on financial advice will ensure better retirement outcomes and keep advice accessible and affordable.

“The IPA believes there is a strong case to support the tax deductibility of all of the costs of financial planning advice.

“Currently, a fee for service arrangement for the preparation of an initial financial plan is not tax deductible as it is not considered to be an expense incurred in producing assessable income.

“Changes to conflicted remuneration arrangements and the introduction of the best interests duty for the financial advice sector as part of the Future of Financial Advice reforms strengthen the case for the provision of deductible financial advice.

“The cost to Government will not be significant as these costs were previously fully deductible as commissions when paid to the financial planner.

“The tax deductibility of financial advice would considerably increase financial literacy, boost affordability and accessibility and reduce demands on public funding. It would encourage a larger numbers of Australians to seek financial advice. 

"The costs of a capped tax deductibility limit for financial planning advice will be significantly outweighed by the longer term benefits of assistance provided to tax payers as they plan for independent retirement,” said Mr Conway.

The IPA has made this recommendation in its pre-Budget submission 2015-16.  Further detail can be found at www.publicaccountants.org.au/2015budget

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Australian industry opportunity to provide high-value convenience foods to the Middle East

The Department of Industry and Science will outline its role in supporting Australian trade with countries of the Middle East at a public hearing in Canberra today.

In its submission to the Joint Standing Committee on Foreign Affairs, Defence and Trade inquiry into trade and investment with the Middle East, the Department highlighted the importance of developing new export markets in the Middle East as a driver of growth for the Australian food industry.

As more Middle Eastern people look to shop at supermarkets, the Department sees opportunities for Australian food processors to provide high-value convenience foods, including ready-to-eat, chilled, canned, preserved, frozen and baked foodstuffs. The growth in supermarkets and Western-style restaurants, especially in the Gulf States, is also pushing demand for premium cuts of beef and lamb from Australia.

According to the Department, Australian food processing is at its most competitive against other international exporters in markets where Middle East consumers are willing to pay a premium for quality Australian-grown food. With more than 350 million people to feed, future food security, including meeting demand for imported higher-value products that Australian food producers can provide, dominates the economic planning of Middle Eastern governments.

The Trade Sub-Committee may also explore the future role of the Australian automotive industry - in particular, its car parts export business beyond the closure of local car manufacturing in 2017. Australia exported $1.47 billion in vehicles and parts to the Middle East in 2013 and providing parts for these vehicles, such as the Toyota Camry, may be important for an Australian car parts industry in transition. 

Public hearing
Date/Time  Wednesday 25 March 2015, 11:05 am
Location  Committee Room 1R3, Parliament House, Canberra
Organisations Department of Industry and Science

Live audio broadcast will be available at www.aph.gov.au/live

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Retailers welcome extension of unfair contract term protections to small business

THE Australian Retailers Association (ARA) said over two million small businesses in Australia are likely to benefit from Minister for Small Business Bruce Billson’s decision to extend unfair contract term protections to small business.

ARA  Executive Director Russell Zimmerman said the retail industry has welcomed the Ministers announced provisions to further protect small businesses from unfair contract terms.

"Consumers are protected against unfair contract terms, however, small businesses have always struggled for the same level of protection.

“In simple terms, any proposal that protects small businesses against unfair terms in low-value standard form contracts is a positive step, as most small retailers have similar resources to consumers when it comes to protection.

“We are pleased to see the aim of this move is to support time-poor small businesses entering into contracts for everyday transactions, while not second-guessing their ability to manage their business.

“The Government and Minister Billson should be congratulated on this move, especially given all the disparate commercial forces and potential road blocks,” Mr Zimmerman said.

Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041.

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Programme to attract business people to Australia should be thoroughly examined

THE Business Innovation and Investment Programme (the Programme) should undergo a comprehensive examination by the Department of Immigration and Border Protection, according to a new report.

Federal Parliament’s Joint Standing Committee on Migration last night tabled the report for its inquiry into the Programme, which aims to attract investors and company owners who have demonstrated a history of success in investment, innovation and management of a business, to work and live in Australia.

The Programme offers various opportunities to help contribute to the Australian economy. Committee Chair, Mrs Louise Markus MP, said that it is important that Australia’s migration programme meet Australia’s business and economic needs.

“In order to compete in the global market and stimulate our economy, Australia needs programmes like this that encourage the creation of genuine and sustainable business opportunities,” Mrs Markus said.

“It is vitally important that the Business Innovation and Investment Programme is effective and meets its objectives. The committee has therefore recommended that the Department of Immigration and Border Protection examine the Programme with a focus on the suitability and attainability of the Programme’s objectives, the role states and territories have in administering the Programme, and how to best collect, disseminate and evaluate data on the Programme.”

The committee also recommended that the examination focus on: the promotion and marketing of the Programme; application processing and service standards; English language requirements; innovation points test; and attracting investment in regional Australia, graduates, early-stage entrepreneurs, and venture capitalists.

The full report can be found at the committee’s website: http://www.aph.gov.au/mig

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VECCI statement on the extension of unfair contract protections for small businesses

VECCI has welcomed the Commonwealth Government’s announced measures to support a fairer marketplace and assist Victorian small business growth. 

"The extension of unfair contract term protections for small business recognises that small businesses often do not have the time, legal expertise or bargaining power to scrutinise and negotiate contract terms that bigger businesses have," VECCI Chief Executive Mark Stone said.

"The new protections will enable the courts to declare void a contract term that is unfair for the small business, such as those allowing a bigger business to unilaterally change the prescribed price or main terms of the agreement.

"We commend the Commonwealth Government for conducting a public consultation process prior to this announcement, as it is important that such reforms sensibly balance the interests of both small and large sized businesses," he said.

"With small businesses in Victoria accounting for 98 percent of all businesses in the state, and almost half of all private sector jobs, small business growth is vital to job creation.

"We look forward to the release of further information on how this important reform will be implemented."

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

vecci.org.au

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SA retailers welcome much-needed changes to penalty rates

THE Australian Retailers Association (ARA) said retailers are relieved to hear that penalty rates in South Australia (SA) will be abolished on Saturdays and halved on Sundays in exchange for a higher base rate of pay and other improved conditions for employees.

ARA Executive Director Russell Zimmerman said the ARA has been leading the penalty rates case for a long time and was open to working with the Shop Distributive and Allied Employees’ Association (SDA) as part of its case to Fair Work to facilitate this agreement and broaden it across the country.

“It is very encouraging to see that the SDA has recognised that the current Sunday penalty rate is too high.

“The ARA welcomes any move that better aligns penalty rates with the modern retail industry. Changes like this allow businesses to respond to their customers needs, rather than having to try to fit their allocation of labour to an antiquated system.

“There is a real opportunity here to support the struggling retail sector and stimulate jobs growth. In order to create more employment opportunities for Australians, retail wages need to be flexible.

“We are hopeful that this agreement has a flow-on effect across Australia,” Mr Zimmerman said.

Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041.

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Australian defence industry export opportunities

THE Department of Defence and Austrade will appear at a public hearing tomorrow of the Defence Sub-Committee of the Joint Standing Committee on Foreign Affairs, Defence and Trade. The two key departments will give evidence on the accomplishments and challenges relating to Australia’s defence industry exports.

Defence is the main promoter and controller of Australian exports of defence equipment, including advanced weapon platforms, systems, components and technologies. In conjunction with Defence, the Australian Trade Commission (Austrade) supports companies seeking opportunities in international defence markets.

Austrade notes that the technologies and products of the defence sector are transferable to civil applications and it has developed initiatives to highlight Australia’s advanced manufacturing capabilities to potential customers.

Chair of the Defence Sub-Committee, Senator David Fawcett (SA), said the inquiry provides an opportunity to identify barriers to the export of defence goods and services by Australian companies.
 
“Defence industry should be seen as a fundamental input to Australia's defence capability which means we need it to be innovative and sustainable. One way to achieve this is for the Government to encourage, and where appropriate facilitate, export to suitable nations," Senator Fawcett said.

The inquiry's terms of reference include identifying barriers and impediments to the growth of Australia's defence exports; how Government can better engage and assist Australian defence industry to export its products; the operation of the Defence Export Control Office; and assessment of the export support given to defence industry by governments of comparable nations.

The inquiry's terms of reference are available on the Committee’s website.

Public hearing
Date/Time:  Tuesday, 24 March 2015, 5.40 pm
Location:  Parliament House Committee Room 1R1
Organisations: Department of Defence and the Australian Trade Commission (Austrade)

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

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