Business News Releases

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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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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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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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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Commonwealth Government’s Repeal Day measures will reduce regulatory burden on Victorian business

VECCI Chief Executive Mark Stone said - VECCI welcomes the Commonwealth Government’s announcement of a further $305 million, in addition to the $2.1 billion previously announced, in net red tape reduction measures that will be of great benefit to Victorian business.

Mr Stone said highlights for business include:

  • Improvements to the ATO website, estimated to benefit six million Australians who will be able to find relevant tax information more quickly.
  • Implementing easier monthly Pay As You Go (PAYG) tax instalments for certain businesses, meaning participants will only need to calculate their actual instalment income on a quarterly basis.
  • Lowering the amount of surplus capital that private health insurers need to maintain and simplifying their reporting requirements.
  • Reducing duplicate assessments for Australian manufactured medical devices, putting Australian manufacturers on an equal footing with their overseas competitors regarding regulatory assessment requirements.

"VECCI also welcomes the Commonwealth Government’s efforts to measure, and report to Parliament, the total cost of federal regulations, estimated at $65 billion per annum," Mr Stone said. "This portfolio by portfolio stocktake highlights key regulatory hotspots and can be used to target future deregulatory reforms.

"VECCI recognises that well-designed regulation is beneficial for business and the wider community because it improves economic stability, provides operational certainty and increases consumer confidence.

"However, because regulations affect all facets of business, including inputs, prices, and output, unnecessary, complex and poorly designed regulations also constrain the ability of business to provide the best product or service at the lowest cost.

"VECCI has been a consistent supporter of the Commonwealth Government’s repeal agenda and applauds the priority given to red tape reform.

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  

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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Public hearing for inquiry into circumvention of anti-dumping laws

The House of Representatives Agriculture and Industry Committee will conduct a public hearing tomorrow, Thursday, 19 March 2015, for the inquiry into circumvention of anti-dumping laws.

Appearing at the hearing for the inquiry will be the Australian Forest Products Association and two major Australian steel producers.

The hearing will be held in Committee Room 1R1, Parliament House, Canberra:
 
Thursday, 19 March 2015
12.15 pm Australian Forest Products Association
12.45 pm BlueScope Steel
1.15 pm Arrium (OneSteel)
1.45 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

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