Business News Releases

Committee to discuss Indigenous procurement policy

THE Indigenous Affairs Committee will this week conduct a roundtable discussion with representatives from the Departments of Health, Defence, Social Services, and Infrastructure, Transport, Regional Development and Communications on the Indigenous Procurement Policy (IPP) as part of its Inquiry into Pathways and Participation Opportunities for Indigenous Australians in Employment and Business.

Committee Chair, Julian Leeser MP, noted that this discussion on the implementation of the IPP, and on the Indigenous suppliers contracted through this policy, would make a valuable contribution to the inquiry.

"The Committee looks forward to discussing the goods and services that departments now procure from Indigenous businesses, and how the nature and volume of Indigenous suppliers may have changed, under the IPP," Mr Lesser said.

"We will also be interested to hear about the retention of Indigenous staff in these respective departments. It will be useful to consider how Indigenous employment opportunities could be improved across Government departments and agencies," Mr Leeser said.

Public hearing details

Date: Friday, 18 June 2021
Time: 1.30pm to 3pm AEST

A live audio stream of the hearing will be accessible at https://www.aph.gov.au/Watch_Read_Listen.

A full program will be available at the inquiry website.

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Committee focus on the national capital

THE Joint Standing Committee on the National Capital and External Territories will be briefed tomorrow by the National Capital Authority about issues relating to the nation’s capital.

The briefing will be broadcast live on the Parliament House website.

Committee Chair, Senator Sam McMahon, said, “The Committee anticipates discussing a range of contemporary matters with the National Capital Authority during the public briefing.

“The briefing process is an opportunity for the Committee to maintain an ongoing awareness of issues relating to Canberra and the National Capital Authority.”

Further information may be found on the Committee’s website.

Further information about the National Capital Authority can be found on its website.

Public hearing details

Date: Thursday 17 June 2021
Time: 11am to 11:45am

The hearing will be broadcast live at aph.gov.au/live. Due to the COVID-19 pandemic, committee hearings are not presently open for physical attendance by members of the public.

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FRV to carry out its first hybrid solar battery project near Dalby.

FOTOWATIO Renewable Ventures (FRV),  a global leading provider of sustainable energy solutions has started construction on its first 5 MWac solar-storage hybrid power plant in Australia.

Located in the Dalby region of Queensland, the Battery Energy Storage System (BESS) facility will feature 2.4 MWac of solar photovoltaic (PV) generation panels and a 2.5 MWac/5 MWh energy storage system which, once completed, will be one of the first co-located PV and BESS system greenfield developments in Australia.

The plant’s output will be connected to Ergon’s distribution network, allowing the hybrid power plant to supply and take electricity from the grid and trade in the National Electricity Market.

The plant is designed to be operated as a predictable and dispatchable generation plant, to provide a reliable energy output to Queensland customers. The system will have the ability to access the maximum number of markets and revenue streams, including arbitrage and FCAS*  services. 

Carlo Frigerio, managing director of FRV Australia, said, "Battery Energy Storage Systems are needed to support further investment in Queensland renewables and help maintain system security and reliability. This project will be critical to Queensland’s future energy supply and security as renewable energy capacity increases, with storage supporting solar and wind power coming into the market when it is most needed.

"The inclusion of PV as part of the project shows the importance of integrating solar and batteries in order to deliver dispatchable power."

Felipe Hernandez, global managing director of FRV-X, said, “FRV is already collaborating with governments, regulators, and partners around the world to lay the foundations for a new energy model. Energy storage will play a central and critical role to fully realise the power of renewable energy, and FRV acknowledges the value of this technology as a key element to achieve a decarbonised society."

This project is FRV’s ninth project in Australia becoming part of a total of about 640MWdc owned-projects’ portfolio.

Only last year, FRV reached three financial closes in Australia alone, demonstrating its continuing strong commitment to grow and consolidate its unique portfolio of solar and storage assets in the country.

The Dalby project also continues FRV’s global expansion in utility-scale storage systems. The company is aiming to further grow its pipeline of energy storage capacity and already has two battery projects in the UK; Holes Bay in Dorset, a 7.5 MW/15 MWh battery plant that has been operating since June 2020, and Contego, a 34MW/68 MWh battery project in West Sussex, that once completed in 2021, will be one of the most advanced and innovative energy storage systems in the UK. In addition to this, FRV has developed an advanced pipeline of battery projects in different countries.

The Dalby Hybrid Facility is expected to create job opportunities during construction and operations. FRV requires all construction partners working on its solar farm developments to hire local contractors and utilise local suppliers wherever possible.

Construction is expected to be completed in December 2021 and the facility has an operating life of around 30 years.

  

About FRV

Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, is a leading global renewable energy development company. In line with its ambition to continue leading the global transition to a more sustainable energy future, FRV has evolved from being just a developer to becoming an independent power producer.  www.frv.com

About Abdul Latif Jameel Energy

 

Abdul Latif Jameel Energy was established in 2012, and is now a leading independent power producer, and a premier service provider in the renewable energy sector, with interests in 16 countries around the world with capabilities in renewable energy, including solar PV, wind, waste-to-energy and environmental solutions, including desalination, water and wastewater treatment. alj.com/energy

The jig is up on the gig economy this tax time - CPAs

A GROWING NUMBER of Australian taxpayers earn income from the gig economy and must include it in their tax return, according to Australia’s leading professional accounting body, CPA Australia.

Senior manager tax policy Elinor Kasapidis said, “Lots of people turned to the gig economy to make ends meet during COVID-19.

“The ATO is aware of these ‘side hustles’ and matches data from platforms like Uber, Airbnb and AirTasker against individuals’ tax returns. This means the jig is up on the gig economy this tax time.”

Gig economy workers often work as independent contractors, but the term broadly includes people who earn income from bartering or sharing as well.

“If you drive people around, do odd jobs or freelance work, rent out your car or storage space, run social media accounts or sell products, you need to declare this income in your tax return," Ms Kasapidis said.

“The good news is that your expenses from earning this income may be deductible.”

Gig workers can claim deductions for most costs incurred in earning their income. Examples can include travel, vehicle, marketing, financing and home-office expenses.

“You can only claim a deduction for the work-related proportion of your use," she said. "Picking up an Uber fare on the way home from visiting mum doesn’t entitle you to write off all your car expenses.”

The ATO is cracking down on the cash economy. The consequences of not declaring cash income from the gig economy may include interest on an individual's tax bill and criminal and administrative penalties.

“It’s legal to receive payments in cash rather than electronically but you must report these amounts in your tax return,” Ms Kasapidis said.

"You don’t need to declare income from activities that are little more than hobbies or not intended to make a profit, but you can’t claim a deduction for them either.

“Don’t worry, the hundred bucks you earned from selling your designer handbag or off-loading your ‘barely used’ bike on eBay doesn’t need to be reported.”

COVID-19 tax issues

Ms Kasapidis said of the Covid-19 changes to earnings, “During lockdowns, some gig economy activities like ridesharing declined, while others such as food delivery skyrocketed. If your deductions are based on a representative period and your usual pattern of work changed due to COVID-19, you may need to prepare an additional record for this period.”

Contractors who received JobKeeper payments or other business grants must record these as business income in their tax return, she said.

"These are assessable and you may need to pay tax on them."

 

About CPA Australia

CPA Australia is Australia’s professional accounting body and one of the largest in the world. CPA has more than 168,000 members in over 100 countries and regions, supported by 19 offices globally. Core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest, engaging with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes.  cpaaustralia.com.au

 

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Volunteering Queensland launches a small grants program to support student volunteering during National Student Volunteer Week

VOLUNTEERING Queensland has launched the National Student Volunteer Week (NSVW) website and social media campaign, as the Small Grants Program.

Grants of up to $500 will be available in Queensland only and are for activities held during 2021 NSVW that celebrate the contribution of and enable the participation of young people through volunteering.

The grants are open to Queensland universities, TAFEs, colleges, schools, and not-for-profit organisations that have volunteering programs for students and young people aged up to 25 years of age. 

National Student Volunteer Week (NSVW2021), August 9 – 15, exemplifies the outstanding contribution student volunteers make across Australian communities. Education providers, volunteer organisations and students across the country are invited to participate in National Student Volunteer Week by getting involved at their local community level to celebrate and promote volunteering, hosting events, awards and training sessions, as well as taking part in volunteering activities.

With the decrease in volunteering participation in the last 12 months, and an increase in the needs of vulnerable community members due to COVID-19, now it is more important than ever for students and young people to come together and acknowledge the important role they play in the sector and the wider community.

National Student Volunteer Week gives students the opportunity to lead others in connecting to their community by offering support and kindness. Students are provided with the chance to explore the personal and professional benefits of volunteering, which include valuable work experience, enhanced feelings of self worth, refinement of values, increased understanding of people, local and global issues, and reduced social isolation.

NSVW also recognises the significant skills, ideas, enthusiasm, creativity, and time that young people contribute through volunteering. A suite of resources has been developed and is available for all participants to assist with planning and executing volunteering activities as well as volunteer promoting events and campaigns.

National Student Volunteer Week has been coordinated and delivered nationally by Volunteering Queensland since 2013 and supported by Volunteering Australia and all State and Territory Peak volunteering bodies, 

The 2021 NSVW grant applications opened at 10am on Friday June 11 and close at 5pm on July 9, 2021.

The initiative has been made possible through the support of the Queensland Government through the Department of Communities, Housing and Digital Economy. 

For more information about the week as well as the grants program, visit The National Student Volunteer Week website at https://nationalstudentvolunteerweek.org.au/

 

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Vection accelerates European expansion via strategic acquisition

REAL-TIME software company Vection Technologies Ltd (ASX:VR1) has signed a binding agreement to acquire European technology company and Dell Platinum and OEM partner, JMC Group. 

JMC is a technology company designing, developing, and delivering high-level integrated business technology solutions for Industry 4.0, underpinned by a strong knowledge in virtual reality and augmented reality (XR), internet of things (IoT), artificial intelligence (AI) and information and communication technology (ICT). 

This acquisition will accelerate Vection's expansion within the Europe, Middle East and Africa (EMEA) region while further integrating its XR portfolio with IoT, AI and ICT towards a 360-degree product suite for Industry 4.0. JMC's strong growth history is expected to provide a more robust foundation for the combined group as it grows within the EMEA region. 

Gianmarco Biagi, managing director of Vection Technologies, commented that this transaction represented a significant step in the company's vertical growth strategy to assist companies in their digital transformation plans via next generation integrated XR solutions. 

"Vection's executive team is adhering to the stated growth strategy to establish itself as a global technology company with a strong XR foundation, deeply integrated with innovative enabling technologies (including AI) and strong vertical competences.

"Via this acquisition we gain a significant technological and geographical advantage and the addition of key management within the European region, unlocking significant global growth opportunities for the company. We remain focussed on completing our 2021 M&A acquisition strategy via the expansion in the US while progressing on our previously stated commercial objectives." 

In commenting on the acquisition, JMC's founder and CEO, Jacopo Merli, said, "We share Vection's global vision of bringing together next-gen technologies with XR to enable companies to make the leap to the fourth industrial revolution. We are truly excited to pursue this opportunity and to grow the combined business across the EMEA region and abroad in the coming months." 

About Vection Technologies

Vection Technologies Ltd (ASX:VR1) is a multinational software company that focuses on real-time technologies for industrial companies' digital transformation.Through a combination of 3D, VR, AR, IoT and CAD solutions, Vection Technologies helps companies and organisations to innovate, collaborate and create value. http://www.vection.com.au/  https://mindeskvr.com/  https://blankcanvas.studio/

 

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First public hearing into Security of Critical Infrastructure to be held

THE Parliament’s Intelligence and Security Committee will hold the first of a number of public hearings tomorrow as part of its Review of the Security Legislation Amendment (Critical Infrastructure) Bill 2020 and Statutory Review of the Security of Critical Infrastructure Act 2018.

The Committee will hear from the Law Council of Australia, Inspector-General of Intelligence and Security, Commonwealth Ombudsman, Office of the Victorian Information Commissioner, Office of the Australian Information Commissioner, and the Department of Home Affairs and the Australian Signals Directorate.

Further information on the inquiry can be obtained from the Committee’s website.

Public hearing details

Friday, 11 June 2021
9.30am – 3:30pm (AEST)
Committee Room 2R1, Parliament House, Canberra

A program for the hearing can be found here and the hearing will be broadcast live at aph.gov.au/live.

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Scientific research improves seafood

WAYS to maximise the commercial potential of innovations in science will be discussed at an upcoming public hearing by the House Agriculture and Water Resources Committee.  

The committee will speak to the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Australian Nuclear Science and Technology Organisation (ANSTO) this Thursday as part of its inquiry into the Australian aquaculture sector. Witnesses will appear via videoconference.

Committee Chair, Rick Wilson MP, noted that both organisations are engaged in pioneering research which aims to boost the overall efficiency, sustainability, and profitability of domestic aquaculture enterprises.

"CSIRO research into marine microbes led to the development of a natural supplement which has helped Australian farmers to rear bigger, healthier prawns," Mr Wilson said. "Similarly, ANSTO has used nuclear techniques to maximise seafood growth by identifying optimal feed ingredients and percentages.

"The committee looks forward to discussing these and other emerging scientific innovations, as well as their potential commercial applications in the expansion of the aquaculture sector," Mr Wilson said.

For further information, please visit the inquiry website.

 

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Ombudsman to monitor impact of Woolworths food distribution move

THEAustralian Small Business and Family Enterprise Ombudsman Bruce Billson said his office would closely monitor Woolworths’ planned acquisition of a controlling stake in PFD Food services (PFD), in regards to the impact it has on small businesses in the sector.

Following the Australian Competition and Consumer Commission’s (ACCC) decision not to oppose Woolworths’ acquisition of 65 percent of shares in PFD, Mr Billson said small businesses in the food distribution space were understandably concerned.

“The ACCC’s decision not to intervene or impose any conditions on Woolworths’ proposed acquisition of a majority stake in PFD is disappointing,” Mr Billson said.

“The deal is an example of another creeping acquisition by an already dominant player in the food and grocery sector, eating away at the competitive landscape and the footprint of independent businesses.

“In this case it’s the wholesale food distribution channel, which has been one of the few genuinely competitive areas of the food and grocery sector

“Food and grocery suppliers are concerned about the likely further narrowing of alternatives to supermarkets for their products with the transaction expected to result in Woolworths significantly increasing its presence and influence in wholesale food distribution channels.

“Small and family business food and grocery suppliers will understandably feel one of the truly open doors for their products closed a little today.

“My office has made our concerns about this transaction clear to the ACCC and we note the evidence was not sufficient to support ACCC intervention as it has concluded the deal will not substantially lessen competition," Mr Billson said.

“Given that much of the concern about this acquisition relates to Woolworths’ influence on the wholesale distribution channel and the impact on food and grocery producers who are already concerned about having too few customer options, I hope the ACCC will join me in keeping a close eye on how this plays out.

“In the meantime, my office welcomes ongoing feedback from small and family business owners and operators in food distribution.”

www.asbfeo.gov.au

 

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Darwin: Wharfies forced into quarantine over COVID safety breach

THIRTEEN waterfront workers have been forced into 14-day mandatory quarantine following a COVID safety breach at the Port of Darwin involving a container ship that arrived from Singapore on Thursday.

Workers at the Linx terminal at East Arm Wharf who boarded the Tacoma Trader to unload containers have been forced into quarantine, with Northern Territory police collecting six from the wharf, along with an additional seven who worked the previous night shift. All have been transported to the Howard Springs quarantine facility.

The Tacoma Trader had been allowed to dock well inside the 14 day quarantine period after NT Health boarded the vessel to undertake health checks of the foreign crew, which involved temperature checks and a declaration from the ship’s master that there was no illness onboard.

Once NT health cleared the vessel of any COVID cases, waterfront workers were permitted to board the vessel to commence unloading the cargo.

The Maritime Union of Australia (MUA) has been campaigning for foreign crew to be tested for COVID prior to Australian workers boarding vessels, but NT and Federal Governments refuse to implement that common sense approach to keep waterfront workers and the community safe.

MUA assistant national secretary Adrian Evans said health authorities had forced workers into quarantine, with workers told by police that it was because of an administrative failure by the vessel’s agent in declaring the number of days since its last port of Singapore, which is not a declared hotspot. This failure was out of the workers’ hands.

"This has been an extremely traumatic experience for our members, who were marched off the wharf by police and bussed straight into quarantine, including some who needed to get home to care for their children,” Mr Evans said.

“The Tacoma Trader, like most vessels arriving in Darwin, had not been at sea for 14 days, leaving waterfront workers dependent on government health checks of the ship’s crew to keep them safe. 

“Those biosecurity measures have clearly broken down, resulting in extreme hardship for nearly half the workforce at the Linx terminal who were simply doing their job, but are now stuck in quarantine.

“Given there are no COVID cases onboard the Tacoma Trader, we question why workers are in lock-up? This is clearly a bureaucratic overreaction.

“Dragging people out of their workplace and locking them up without a valid reason is clearly unacceptable. No one should go to work, then be forcibly detained in Howard Springs for two weeks.

“To make matters worse, these workers have been denied a change of clothes and are still in the same work gear they’ve had on since 6am yesterday.

“Our members worked all through the height of the pandemic, they have faced the risk of COVID infection to keep the economy going, and now they find themselves being locked up just for doing their jobs.

“We demand the immediate release of our members and a commitment from the NT Government that this will not happen again.”

The Tacoma Trader has now been diverted to Port Hedland, which will significantly impact delivery of cargo into the Territory. The union also warned that the quarantining of a large part of the workforce will impact the ability to load and unload other vessels at the Port of Darwin.

Mr Evans said the incident highlighted the union’s repeated warnings that Australia’s COVID biosecurity measures — which vary between states and territories — are fundamentally flawed.

“The MUA has written to National Cabinet on a number of occasions, highlighting flaws in Australia’s biosecurity measures, and urging an immediate overhaul to create a nationally-consistent regime for addressing the very real threat of COVID arriving on international commercial vessels,” Mr Evans said.

“This issue is particularly important for the NT, because the territory’s close proximity to Asia means most vessels are arriving less than 14 days after departing foreign ports.

“What we need is the rapid testing of all seafarers arriving in Australian ports, ensuring COVID outbreaks onboard are immediately identified, appropriate health support is provided, and Australian workers are protected from the risk of infection.

“This case highlights the precariousness of the current system, and the very real risk of COVID entering the Australian community through maritime supply chains.

“There is no question that this COVID safety breach is a failure of government; it shows the current approach isn’t working and highlights the urgent need for a nationally consistent approach to address the issue.”

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Retirees welcome extension of temporary superannuation drawdown relief

 “THE ANNOUNCEMENT by the government to extend the temporary halving of the minimum superannuation drawdown amount is welcomed by retirees,” Association of Independent Retirees president Wayne Strandquist said today. 

“In times of financial crisis or market volatility that we have seen with the GFC or the COVID-19 pandemic, retirees need greater flexibility in the minimum amount they are required to draw down from their superannuation," he said.

“If retirees are forced to withdraw money from superannuation when the capital value of superannuation accounts are depressed or when the returns being generated are low, it will have long term impacts on how long their superannuation will last,” Mr Strandquist said.

“The 50 percent reduction in the minimum age based drawdown percentages for superannuation income streams for the past two years was welcomed by retirees, as is the extension of the temporary reduction for a third year 2021-22.

“The Association of Independent Retirees has advocated for some years to government that the minimum withdrawal percentages from superannuation in retirement should be permanently lowered for retirees who are 75 years and older.

“The time spent in retirement is now considerably longer than when the compulsory superannuation system was established. In addition to this longevity risk, investment risk also increases over time with more periods of volatility in the value of retirement savings and retirement income,” Mr Strandquist said.

“So, rather than a temporary arrangement, retirees need a permanent reduction to minimum super drawdowns so they have the flexibility to deal with whatever comes along as well as preserving funds for out of pocket health and age care expenses in later life."

www.independentretirees.com

 

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