Business News Releases

Builders want the IR Omnibus Bill passed this week

MASTER BUILDERS Australia is calling on the Senate to pass the IR Omnibus Bill this week. 

Denita Wawn, CEO of Master Builders Australia said, “Senators need to back this Bill to support economic recovery, it’s that simple.

“Business investment remains low while other indicators of recovery are rebounding. Passing this Bill will send a strong signal to businesses that pragmatic measures to grow the economy are being put in place, boosting confidence that they can hire more people and invest in generating more business activity,” she said. 

“Productivity boosting measures in the Bill include reducing the unnecessary technicalities and complexities that currently beset the IR system. It will encourage enterprise bargaining in our industry which has fallen by over 33 percent in recent years,” Ms Wawn said. 

“With every $1 dollar spent on construction generating $3 in wider economic activity, governments around the country are investing billions to harness the industry’s multiplier effect and build the bridge to recovery. Passing the Omnibus Bill will unlock even more productivity and jobs in the sector. 

“Master Builders does not agree with everything in this Bill, but we have determined not to let ‘the pursuit of the perfect be the enemy of the good’ as it includes positive measures that will boost business confidence and unlock investment to drive economic growth to the benefit of the whole community. 

“The Senate should the pass Omnibus Bill this to improve the operation of the IR system to support the nation’s economic recovery,” Ms Wawn said.

www.masterbuilders.com.au

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Better gender balance in ASX leadership vital for improving performance

IFASX COMPANIES want to increase their long-term market value they need to act now and increase the number of women in CEO and executive leadership positions.

This was one of the many views expressed during a panel discussion at a virtual event recently for the 40:40 Vision initiative launched last year by industry super fund HESTA with industry partners Chief Executive Women, Australian Council of Superannuation Investors (ACSI), 30% Club and the Workplace Gender Equality Agency (WGEA).

The panel comprised Sam Mostyn, president Chief Executive Women, Louise Davidson, CEO, ACSI, Colleen Harris, group chief people officer, Ramsay Health Care, and moderated by HESTA CEO Debby Blakey agreed that there had been too little progress on seeing women advance to senior roles.

Panellists said,while it was good the number of ASX200 women chairs had grown from 11 in 2015 to 24 in 2021, it was disconcerting only 10 ASX200 CEOs are women and only one of the 25 CEOs appointed to ASX200 CEO roles last year was a woman.

In 2020, the WGEA and the Bankwest Curtin Economics Centre released research showing an increase in the share of female ‘top-tier’ managers by 10 percentage points or more led to an average 6.6 percent increase in the market value of Australian ASX-listed companies.

The 40:40 Vision chair and HESTA CEO Debby Blakey said, “As investors, we share a common goal with companies to improve their long-term performance – it’s good for our members and its good for their shareholders. We know from local and global research that addressing gender diversity in leadership is essential to creating stronger decision making and this long-term improvement in a company’s value.”

“With only 25 percent of ASX200 executive leadership positions held by women, it’s not surprising there are such a small number of women CEOs. Boosting the number of women in leadership will provide an important pipeline of diverse talent for boards.

“Those companies not looking closely enough at 50 percent of the population when identifying top talent risk missing out not only on the best people but also the long-term performance edge a more diverse and inclusive culture provides.”

Global company Ramsay Health Care was the first ASX listed companies to join the initiative. Ramsay’s Group chief people officer Colleen Harris said, “Ramsay Health Care has a strong record of embracing diversity and promoting women into leadership roles. By supporting the 40:40 Vision initiative, we hope to encourage other ASX200 companies to achieve gender equality.

“Globally, we are a significant employer of women, and we have long been committed to having strong female representation at all levels of the organisation. In Australia, 59 percent of our hospital and facility CEOs are women and 60 per cent of our regional executives are women.”

ACSI CEO Louise Davidson said investors have long recognised the value of gender diversity in governance and leadership roles.

“We’re very encouraged to see the number of women directors continuing to increase. But it’s disappointing that the number of female chairs and CEOs continues to languish. Through 40:40 Vision, investors are driving companies to capitalise on the long-term value of diversity by setting gender targets in leadership teams. Women’s progression to executive leadership positions and CEO roles still has a long way to go, and it will take sustained effort for this to change.”

President of Chief Executive Women, Sam Mostyn, said, “ASX200 companies can lead the way and achieve better results for all their stakeholders by ensuring their leadership teams are balanced. More diverse teams lead to stronger financial performance and safer company cultures. Risk is reduced and outcomes improved – a 40:40 vision of gender equality is a corporate responsibility right now.”

Ms Blakey said HESTA launched the 40:40 Vision initiative last year with industry partners out of concern that the number of women in leadership positions had stalled.

“The 40:40 Vision initiative was necessary because a lack of gender diversity in leadership is ultimately a financial risk. We have set ambitious targets; the time for waiting is over because we can’t wait decades to see equal numbers of men and women in senior leadership.”

Ms Blakey encouraged all ASX200 companies to pledge support for a 40 percent gender balance by 2030, and said 40:40 Vision recognises the complexity and differences in organisational structure among ASX200 companies, giving flexibility for companies to set and develop their own plans and targets.

“We want to see real, genuine change – not just additional layers of needless reporting and governance resulting in a tick-the-box exercise,” Ms Blakey said.

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More than 1000 job opportunities for resourceful and energetic Queenslanders

THE Queensland resources and energy sector is currently looking to fill more than 1000 jobs across the State, Queensland Resources Council (QRC) chief executive Ian Macfarlane said today.

Mr Macfarlane said Queensland’s resources sector supported more than 420,000 jobs across the State, and despite COVID-19, international market conditions and commodity price fluctuations the sector was continuing to hire staff.

“The resources sector already supports one in six jobs across the state and is playing a central role in helping Queensland work, earn and employ its way through COVID,” Mr Macfarlane said.

“Right now the resources sector is offering more than 1000 opportunities for Queensland jobseekers, both in Brisbane and in the regions.”

According to online job portal Seek, there are currently more than 1000 vacancies in Queensland mining, resources and energy including:

  • 318 Brisbane
  • 297 Mackay and Coalfields
  • 82 Townsville
  • 63 Cairns and Far North
  • 59 Mount Isa
  • 57 Rockhampton and Capricorn Coast
  • 27 Gladstone
  • 27 Toowoomba and Darling Downs
  • 11 Bundaberg, Wide Bay-Burnett

Mr Macfarlane said the tireless work of the industry, in partnership with the Queensland Government and local councils, to ensure staff, their families and their communities remained safe during COVID-19 had ensured the industry could continue to operate and earn for Queensland.

“As an industry, we are working very hard and having increasing success in attracting more women, more Aboriginal and Torres Strait Islanders and more young Queenslanders to join our industry,” Mr Macfarlane said.

“The resources and energy sector uses cutting edge technology and is at the forefront of delivering the full energy mix, advanced manufacturing and renewable energy and battery storage technologies, so there is a lot to offer potential employees looking for new opportunities,” he said.

“I strongly encourage people who want to be part of an industry that is all about finding energy solutions to consider a career in resources.”

www.qrc.org.au

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QRC welcomes Santos exploration project and domestic gas boost

THE Queensland Resources Council (QRC) has congratulated Santos on being awarded an Authority to Prospect (ATP) in the gas-rich Bowen and Surat Basins.

QRC chief executive Ian Macfarlane said Resources Minister Scott Stewart’s announcement that Santos had been granted a domestic gas ATP was a win for the gas industry and for industrial and household consumers.

“As the peak representative for the State’s gas, coal and metal explorers and producers, the QRC supports the Queensland Government’s policy of only offering tenures which produce domestic gas,” he said.

“To date, the government’s forward-looking domestic gas policy has released more than 20,000 square kilometres of land to help our manufacturing sector secure the gas it needs.

“The Government recommitted to its policy for domestic-only gas tenure releases to assist the manufacturing industry during the 2020 State election, so this announcement is testament this policy is working for Queensland, particularly in our recovery from COVID-19.

“Congratulations to Santos and its ongoing commitment to operating in Queensland.”

Mr Macfarlane said Queenslanders could count on resources to help with the State’s economic recovery from COVID.

“To give an idea of the significance of the oil and gas industry to Queensland, last year it supported more than 51,000 full-time equivalent jobs,” he said.

“During the same period, the oil and gas industry injected $5.1 billion – almost $14 million a day – into the Queensland economy.”

Mr Macfarlane said projects like Santos’ new exploration venture demonstrate the key role Queensland can play in providing resources to support the world’s transition to a low emissions future.

“This includes expanding our renewable energy industry, developing battery storage and hydrogen and operating Queensland’s modern coal and gas-fired generators,” he said.

www.qrc.org.au

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Industry leaders call for IR Omnibus Bill 'to be passed this week'

AUSTRALIA'S LEADING industry groups are calling for Federal Parliament to vote on the IR Omnibus Bill this week and for all Senators to support it.

The industry groups are saying there "is no valid reason why the Bill should be delayed".

"The certainty that these reforms will deliver is needed urgently to boost confidence, investment and job creation to complete the recovery and help put the economy on track to generate higher incomes and sustained growth in the future," the joint statement read.

"A failure to vote on the Bill will increase uncertainty and stifle business confidence at the worst possible time – just before the JobKeeper scheme ends and as businesses are making critically important decisions on whether to retain staff.

"Australia is only part way through an uncertain recovery from the most severe peace-time shock since the Great Depression. With JobKeeper coming to an end, the jobs market remains very tough"

The industry groups said 182,000 more Australians were unemployed in January 2021 than in February 2020.

"The impacts on young Australians are particularly severe. There were 85,000 fewer people aged 15-24 in employment in January 2021 than in February 2020 and 61,000 fewer people aged 25-34 in employment over this period, These age groups account for 47 percent of the additional unemployed over this period.

"GDP at the end of the December quarter was still 1.1 percent below the level reached at the end of 2019 and Gross Value Added in the market sector of the economy 2.3 per cent below its level in December 2019," the joint statement read.

"Australia has a very open economy and we are not immune from the severe economic effects that the pandemic is still having on the global economy.

"The Bill contains a series of modest, practical and fair amendments to the Fair Work Act that will boost jobs, investment and confidence.

"The legislation is the outcome of an extensive Government consultation process over the past nine months involving working parties of industry and union representatives. Employers have not got all they would want. There are components of the Bill addressing issues raised by Unions that we would under normal circumstances strongly oppose. This is not an Employers' Bill but a sensible compromise that employers and their workforces can work with. 

"The legislation has been passed by the House of Representatives and has been scrutinised by a Senate Committee which has recommended that the Bill be passed.

"Australia’s leading industry groups call on all Senators to put the national interest first and support the Bill."

Singatories to the statment are:

Jenny Lambert, acting CEO, Australian Chamber of Commerce and Industry (ACCI)

Innes Willox, chief executive, Australian Industry Group (Ai Group)

Jennifer Westacott AO, chief executive, Business Council of Australia (BCA)

Steve Knott AM, chief executive, Australian Mines and Metals Association (AMMA)

Denita Wawn, chief executive, Master Builders Australia (MBA)

Jon Davies, chief executive officer, Australian Constructors Association (ACA)

Paul Zahra, chief executive officer, Australian Retailers Association (ARA)

Wes Lambert, chief executive officer, Restaurant & Catering Industry Association (RCIA)

Dominique Lamb, chief executive officer, National Retail Association (NRA)

Tony Maher, chief executive, National Farmers Federation (NFF)

 

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First public hearing for mental health inquiry

THE House Select Committee on Mental Health and Suicide Prevention is commencing public hearings with the first taking place in Canberra on March 18, 2021.

The committee will hear from the Productivity Commission, the National Mental Health Commission and the Department of Health on current mental health and suicide prevention strategies grounded by the extensive research these organisations have already undertaken.

Chair of the committee, Fiona Martin MP, said, "This hearing is an opportunity for the committee to hear from the leading government departments and agencies driving the mental health policy agenda.

"We want to have a productive discussion about what has been successful, and where there could be improvements, to ensure that the right actions are being taken to achieve increased personal outcomes for those suffering from mental health difficulties and workers."

This hearing is the first of several expected to be held for the inquiry between now and when the committee presents its final report. Dr Martin said, "The committee will use the evidence from this hearing to shape the Interim Report and the second phase of the inquiry, which will inform the final recommendations due in November."

Public hearing details

Date: Thursday 18 March 2021
Time: 10:15am to 11:45pm AEDT

Location: Main Committee Room, Parliament House, Canberra

The hearing will be broadcast live at aph.gov.au/live and the public hearing program will be available at the committee website prior to the hearing.

The committee is unable to intervene or provide advice in relation to individual circumstances. Help is available at:

Lifeline Australia 13 11 14
Suicide Call Back 1300 659 467
Kids Help Line 1800 551 800
BeyondBlue 1300 224 636
eheadspace 1800 650 890

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AAT affirms TPB termination decision following sustained misconduct over nine years

THE Tax Practitioners Board (TPB’s) decision to terminate the registration of Ashley Cross of West Perth, WA on the grounds of misconduct and impose a two-year non-application period has been affirmed by the Administrative Appeals Tribunal (AAT).

The registration of Mr Cross’s partnership, trading as M. Adamson and A. Cross (Adamson and Cross) was also terminated.

Following a referral from the Australian Taxation Office (ATO) about self-managed superannuation fund (SMSF) Auditor Number misuse, the TPB concluded that Mr Cross and his partnership had failed to act honestly and with integrity and additionally failed to provide competent tax agent services.

Over a period of nine years, Adamson and Cross lodged 125 SMSF annual returns falsely declaring that the SMSFs had been audited when in fact they had not been.

Mr Cross argued in the AAT proceedings that the degree of dishonesty involved was lessened by the fact that ultimately, when audited, the SMSFs were all found to be compliant and that he did not derive any financial benefit. The Tribunal did not accept these contentions.

The Tribunal found that regardless of his motivation, "Mr Cross had repeatedly and deliberately chosen to put what he perceived to be the interests of his clients, above his fundamental professional duty to act honestly. He repeatedly, deliberately chose to mislead the ATO."

Chair of the TPB, Ian Klug AM, reminded tax practitioners that there were serious consequences for failing to act honestly and with integrity and that such behaviour invariably calls into question whether a practitioner meets the fit and proper person requirement.

"The terminations imposed reflect the gravity of Mr Cross’s and the partnership’s dishonest conduct in lodging SMSF annual returns with false declarations over such a prolonged period," Mr Klug said.

Ten tax practitioners have now been terminated as a result of false declarations in SMSF annual returns. The TPB has also suspended the registration of four other tax practitioners.

As a result of recent ATO referrals, more than 60 tax practitioners are now subject to TPB enquiries regarding SMSF Auditor Number misuse.

The TPB’s compliance action also links in with a broader ATO lodgement campaign targeting persistently disengaged SMSF trustees, of which more than 1,100 are estimated to be tax practitioners. The TPB and the ATO will collaborate to address the risks in respect to the tax practitioners in this group.

About the Tax Practitioners Board

The TPB regulates tax practitioners in order to protect consumers. The TPB aims to assure the community that tax practitioners meet appropriate standards of professional and ethical conduct. Twitter_@TPB_gov_au, LinkedIn, Facebook. 

 

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Ombudsman shares RBA concern over small business access to finance

THE Australian Small Business and Family Enterprise Ombudsman Bruce Billson has backed the RBA’s plea to banks to treat small businesses differently to consumers when considering loan applications.

Mr Billson welcomed further scrutiny of small business access to finance pledged by RBA Assistant Governor Chris Kent in today’s address to the Australian Finance Industry Association.

“Finance is the oxygen of enterprise,” Mr Billson said.

“Mr Kent’s comment that access to finance for small businesses has been a long-standing challenge and is now tighter than before the pandemic, is correct.

“I support Mr Kent’s plea to banks to take a different approach to small business borrowers, given that even under the existing Responsible Lending Laws, banks are not obliged to apply the same serviceability requirements to small businesses that need to be applied to households.

“I also share Mr Kent’s concerns regarding the banks lengthy and onerous process to securing finance, including substantial collateral requirements," Mr Billson said.

“Of course we need to strike the right balance, but any move to loosen onerous restrictions on access to finance for small business would be positive.

“The RBA has noted it expects business failures to rise as government support measures are phased out. This highlights the critical need for small businesses to have greater access to finance, to provide the cash flow necessary to get through the coming months.

“Overall, we welcome the RBA’s acknowledgement of the important contribution the small business sector makes to the economy as well as its efforts to continue to monitor small business access to finance and their prospects more broadly.” 

www.asbfeo.gov.au

 

Call for Entries Issued for The 2021 International Business Awards

THE Stevie Awards have opened entries for The 18th Annual International Business Awards, the world's premier business awards competition, which attracts nominations from organisations in more than 60 nations and territories each year.

All individuals and organizations worldwide - public and private, for-profit and non-profit, large and small - may submit nominations to The International Business Awards. The early-bird entry deadline, with reduced entry fees, is April 13. The final entry deadline is May 12, but late entries will be accepted through June 16  with payment of a late fee.

Juries featuring more than 150 executives around the world will determine the Gold, Silver, and Bronze Stevie Award winners. Winners be announced on August 12, and celebrated at a gala banquet in Paris, France on October 23, conditions permitting.

The International Business Awards recognise achievement in every facet of the workplace. Categories include:

There are many new and revised features of The International Business Awards for 2021:

Stevie Award winners in the 2020 IBAs included Deutsche Telekom Services Europe (Slovakia), Ernst & Young (USA), IBM (USA), Facebook India Online Services (India), Freelancer.com (Australia), Ooredoo Group (Qatar), REMAP (Canada), Türkiye İş Bankası (Turkey), Thai Life Insurance (Thailand), Telecommunication Services Limited (Hong Kong), LLYC (Spain), Warner Media (USA), and many more.

About the Stevie Awards
Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards, The International Business Awards, the Stevie Awards for Great Employers, the Stevie Awards for Women in Business, the Stevie Awards for Sales and Customer Service, and the new Middle East Stevie Awards.

Stevie Awards competitions receive more than 12,000 entries each year from organisations in more than 70 nations. Honouring organisations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.

Entry details are available at www.StevieAwards.com/IBA.

 

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Juukan Gorge inquiry: fighting for heritage

REPRESENTATIVES of the Djab Wurrung Traditional Owners, Victorian Traditional Owners Land and Justice Group, Tasmanian Aboriginal Centre, Seed Indigenous Youth Climate Network, Yorta Yorta Nation and Rodney Dillon, chairperson of the Tasmanian Aboriginal Heritage Council, will appear before the Joint Standing Committee on Northern Australia this Friday, March 19.

The inquiry into the destruction of Indigenous heritage sites at Juukan Gorge will examine the struggle to protect Indigenous heritage in Victoria and Tasmania, with a public hearing by video conference.

In Victoria, the Djab Wurrung people have experienced cultural heritage destruction with the removal of a Directions Tree due to a Victorian highway duplication project. Their loss has been compared to losing a church or other spiritual place, highlighting the importance of such trees.

The Tasmanian Aboriginal Centre has been angered by the fact that the sacred Wargata Mina cave in southwest Tasmania is controlled by the Tasmanian Government, despite being owned by the Aboriginal community. The community is particularly distressed over the possibility of improper access to the cave by non-Aboriginal people.

The Yorta Yorta Nation, after having their Native Title claim dismissed, signed a historic agreement with the Victorian Government recognising them as Traditional Owners of a large area of land, enabling them to protect their cultural heritage. In 2020, the Yorta Yorta Traditional Owner Land Management Board finalised a joint management plan with the government which will give them input into the management of Barmah National Park.

Northern Australia Committee chair Warren Entsch noted that the pain experienced by First Nations peoples over loss of heritage is a national issue, effecting Indigenous communities in every jurisdiction.

"The committee understands that there can be conflict between the interests of First Nations peoples and other stakeholders," Mr Entsch said. "We need to get better at resolving these conflicts.

"There must always be consultation with First Nations peoples by government, who must properly consider the importance of cultural heritage before development decisions are made."

A program for the public hearing is available on the committee’s website.

Public hearing details

Date: Friday, 19 March 2021
Time: 9am to 3pm AEDT
Location: by video/teleconference

The hearings will be broadcast live at aph.gov.au/live.

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Redress support services at public hearing

THE Joint Select Committee on Implementation of the National Redress Scheme will hold a public hearing on Thursday, March 11, 2021.

The committee will hear from Redress Support Services and an institutional child sexual abuse survivor.

Among other things, the committee wants to better understand how Redress Support Services are engaging with the National Redress Scheme across Australia and what can be done to improve survivor engagement with the scheme.

"Redress Support Services across Australia must walk alongside survivors," committee chair Senator Dean Smith said.

"The committee wants to learn from Redress Support Services about how the scheme can better respond to survivor needs, and what steps the National Redress Scheme can take to increase participation in the Scheme."

Public hearing program

Date: Thursday, 11 March 2021
Time: 11am–2.10pm AEDT
Location: Teleconference

The hearing will be broadcast live at aph.gov.au/live and public hearing programs will be available at the committee website prior to the hearing.

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