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Business News Releases

Audit Committee tables report into 2023-24 and 2024-25 Major Projects Reports

TODAY, for the final time, the Joint Committee of Public Accounts and Audit has tabled a report of its annual inquiry into the Defence Major Projects Report.

The Major Projects Report has served as a landmark of Defence accountability for 18years. What commenced as a response to poor visibility on the progress of major projects evolved over the years into a technical document that has provided the data necessary for parliamentary scrutiny.

As with previous inquiries, the committee’s report finds that although there have been improvements in Defence performance, Defence projects continue to experience scope, budget and schedule difficulties, when compared with original second pass approval.

Although the 2024-25 Major Projects Report is the final report, it will not be the end of the committee’s scrutiny of Defence expenditures. The committee will evolve the shape and form of its scrutiny for the future.

As a first step in this reformulation of Defence scrutiny, and pursuant to a recommendation in the report, Defence will provide information to the committee as requested, containing specified data on the projects the committee deems necessary. This will be information that assists the committee to audit and assess Defence’s performance and governance of its major acquisition projects.

The committee will also increase its scrutiny of performance audits in the Defence portfolio and has commenced this with inquiries into the Land 400 Phase 3 project, and the Collins Class Submarines Life of Type Extension Project.

Committee Chair, Josh Burns MP, said, “Scrutiny of Defence performance in delivering capability will always be necessary and vital in a democracy where the military must remain accountable to the Parliament for the expenditure of large amounts of public money.”

 

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Their Courage, Our Responsibility: National Redress Scheme Committee tables report

THE Joint Standing Committee on Implementation of the National Redress Scheme has today tabled a report in Parliament, following a year-long inquiry into the continuing operation of the scheme.

The report – Their Courage, Our Responsibility: The continuing operation of the National Redress Scheme and Australia's commitment to survivors – draws on evidence and experiences shared with the committee by victim-survivors, redress support service providers, participating institutions, researchers and government agencies.

The committee made 31 recommendations aimed at strengthening the scheme's operation as its conclusion draws near, supporting victim-survivors beyond its closure, and ensuring that the lessons that have been learned since its commencement are preserved as part of the scheme’s enduring legacy.

Most significantly, the committee recommended that the application deadline for the scheme be extended from June 30, 2027 until December 31, 2027, and that the scheme not be closed until all applications have been processed.

Committee Chair, Jodie Belyea MP, said the National Redress Scheme is a unique undertaking, unparalleled internationally in both its scale and complexity.

"Over the past eight years, the scheme has been a critical avenue for recognition, support and redress for thousands of victim-survivors. For many, it has been life-changing," Ms Belyea said. "Equally, many applicants find the process deeply challenging."

The Redress Scheme has been placed under pressure by sustained demand for redress and growing application volumes. The committee has focused on how those pressures can be addressed in a trauma-informed, victim-focused way, including how victim-survivors are supported as the scheme moves towards closure and beyond.

‘The experiences of survivors and the knowledge gained through the operation of the scheme are a vital part of our broader national reckoning with institutional child sexual abuse," Ms Belyea said. "The committee is intent on ensuring that the scheme closes safely and responsibly, and that victim-survivors continue to receive the support they need."

More information about the inquiry, including the terms of reference and submissions, can be found on the inquiry webpage.

 

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Dennis Shanahan to deliver Speaker’s Lecture 2026 at Parliament House Canberra

THE Speaker of the House of Representatives, Milton Dick MP, has chosen distinguished political journalist Dennis Shanahan to deliver the sixth Speaker’s Lecture at Parliament House on November 23.

Mr Shanahan will speak on the topic ‘How the rise of social media and misinformation is changing Australia’s democracy, and what we can do to safeguard our country.’

Mr Shanahan has been The Australian’s Canberra bureau chief, then political editor and now national editor based in the Federal Parliamentary Press Gallery since 1989 covering every Federal Budget, election and prime minister since then. He has been in journalism since 1971 and has a master’s degree in journalism from Columbia University, New York.

Speaker's Lecture 2026

Date: Monday 23 November 2026
Time: 12 noon – 1pm AEDT
Venue: Main Committee Room, Parliament House, Canberra

Mr Shanahan will be introduced by the Speaker and the Clerk of the House of Representatives, Ms Claressa Surtees. A Q&A session will be held after Mr Shanahan’s speech.

Building occupants and members of the public have been invited to attend (RSVP required). 

The Speaker’s lecture will also be broadcast on the APH website: www.aph.gov.au/live.

 

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Treaties Committee examines Vanuatu-Australia Nakamal Agreement

THE Joint Standing Committee on Treaties (JSCOT) will hold a public hearing today (October 12)  as part of its inquiry into the Vanuatu-Australia Nakamal Agreement. The agreement was referred to the committee on July 1 this year.

The Vanuatu-Australia Nakamal Agreement aims to establish a legally-binding framework for security, economic, developmental and people to people cooperation between Australia and Vanuatu. Through strengthening the existing security partnership and economic and people to people cooperation, the agreement aims to advance the respective national security interests of each party.

Committee Chair, Lisa Chesters MP, said, "Australia and Vanuatu share close connections, history and geography which entwine our cultures and peoples. We also share an interest in the collective security, sovereignty and prosperity of the Pacific region.

"The committee is interested in understanding how the agreement will strengthen Australia’s role as Vanuatu’s closest economic, security and development partner," Ms Chesters said.

The committee will hear evidence from the Department of Foreign Affairs and Trade and the Australian Federal Police.

Further information about the inquiry, including the treaty text, National Interest Analysis and submissions received by the committee, are available on the inquiry’s webpage.

Public hearing details

Date: Monday, 12 October 2026
Time: 10:30am – 11:30am AEDT (approximately)
Location: Committee Room 2R1, Parliament House Canberra

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

 

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Ombudsman welcomes ATO credit card reprieve for small businesses

THE Australian Small Business and Family Enterprise Ombudsman, Lynda McAlary-Smith, has welcomed the decision that the Australian Taxation Office (ATO) will continue accepting credit card payments until June 30, 2027, describing it as a practical outcome that recognises the cash flow realities facing many Australian small businesses.

Ms McAlary-Smith said access to flexible payment options remains important for many small business and family enterprise operators who carefully manage cash flow while meeting their tax obligations.

“I welcome the Treasurer's announcement that the ATO will continue accepting credit card payments until 30 June 2027,” Ms McAlary-Smith said.

“This is a sensible and welcome decision that gives small businesses breathing room and recognises the very real cash flow pressures they are managing.

“For a small business, flexibility in how and when bills are paid can make a real difference to cash flow,” she said.

“The ATO has listened to concerns from myself and other stakeholders about the impact this change would have had on small businesses and the need for genuine consultation that reflects the real experiences of business owners who are already managing significant financial pressures.”

Ms McAlary-Smith said, “This extension provides valuable breathing room for small businesses who use credit cards as a legitimate cash flow management tool to meet obligations on time and allows consultation about longer term arrangements to take place.

“Small businesses have told us that removing this payment option too quickly would make managing already tight cash flow even harder. It is pleasing to see those concerns heard and acted on.

“This extension provides valuable time to properly consider what comes next and ensure any longer-term arrangements are workable for small businesses," Ms McAlary-Smith said.

“While this is a positive outcome, I will continue to advocate strongly for the interests of small businesses and ensure their practical experience is at the centre of the ATO’s consultation as I work with them over the coming months.”

www.asbfeo.gov.au

 

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