THE Sydney and Melbourne property markets are showing ‘clear signs of recovery’ with auction clearance rates hitting more than 70 percent in both the capital cities, according to RiskWise Property Research CEO Doron Peleg.

According to research by CoreLogic, Sydney hit 77.2 percent and Melbourne delivered 73.6 percent.

“The trend now is very clear with interim results in the 60s and 70s in the past four weeks and final clearance rates above 60 percent for that period. This is significantly higher than the clearance rate of 52 percent a year ago,” Mr Peleg said.

He said a combination of the surprise election results, the RBA interest rate cuts, APRA's changes to floor assessment and tax cuts, which would deliver more funds to households, all contributed to the confidence of the market and, consequently, higher clearance rates that were also connected to higher prices.

“While volumes are still low, in this context it means sellers, generally, don't feel the rush to sell,” he said.

“However, further improvement in auction results and the turnaround in the market are likely to lead to an increased volume as sellers expect stronger demand for their properties and, therefore, are more confident to put them on the market.”

Mr Peleg said the high end of the market continued to lead the way with extremely strong results in Sydney’s eastern suburbs with 90 percent clearance rates, and both Sydney Inner West and Inner South West reaching 87 percent.

In Melbourne the lucrative areas of the Inner East and Inner South continued with their consistently strong results this week delivering 77.3 percent and 76.9 percent, respectively.

www.riskwiseproperty.com.au

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THE Australian Retailers Association (ARA) is hosting this year’s annual 2019 eftpos ARA Australian Retail Awards on August 15 at Myer Mural Hall, Melbourne. 

At this prestigious breakfast event, guests will have the opportunity to network with fellow industry peers and hear from renowned keynote speaker and consumer futurist, Amanda Stevens who will discuss how owners and managers can can engineer a retail business to anticipate the needs of tomorrow's customer.

With 12 awards for the taking, the ARA worked with a panel of expert judges and industry leaders to determine the ‘finest in retail’ across three categories including Customer Experience, People in Retail, and National Retailer. The high standard of submissions received by the ARA this year is a testament to the passionate retailers who contribute to the vitality of this thriving sector. 

See our 2019 eftpos ARA Australian Retail Awards finalists below:

Award category: Customer Experience

Recognising Australian retailers who create and enhance the customer experience at every step of their shopping journey.

2019 Manhattan Associates Excellence in Customer Experience

• PETstock
• Birdsnest
• Brava Lingerie
• On the Run
• Retail Prodigy Group

2019 Daylight Agency Excellence in Retail Marketing

• Bakers Delight
• PETstock
• Brava Lingerie
• Vodafone

2019 Pronto Retail Innovator of the Year

• Biome
• Specsavers
• Myer
• George & Matilda Eyecare

2019 Store Design & Fit-Out of the Year

• First Choice Liquor
• AWPL
• On the Run

Award category: People in Retail

Recognising individuals and employers in the retail industry paving the future of Australian retail.

2019 Rest Retail Business Woman of the Year

• Karina Bruce – Hear Us Roar
• Ellie Degraeve – Go for Zero
• Chelsea McIntosh – Spoilt Gift and Homewares
• Rebecca Peterson – Harris Scarfe

2019 FCB Retail Employer of the Year

• ALDI
• PETstock
• Vodafone
• On the Run
• Retail Prodigy Group
• AWPL

2019 Rest Young Retailer of the Year

• Jacinta Farrell – BCF
• Thomas Kovacs – Harris Scarfe  
• Amanda Styles – Harris Scarfe
• Aled Ball – On the Run
• Julieanne Willson – On the Run
• Marko Krndija – Harris Scarfe

2019 Retail Graduate of the Year

• Esther Laub – The Sydney String Centre
• Anita Holman – NPI
• Jamie Turner – Brand Collective

Award category: Retailer of the Year

Celebrating and acknowledging progressive retailers in Australia who have transformed their business to adapt to the new era of retail.

2019 eftpos National Retailer of the Year

• Kidstuff
• Vodafone
• Retail Prodigy Group

2019 eftpos Digital Commerce Retailer of the Year

• YCL Jewels
• The Party People
• Myer

2019 eftpos Franchise Group of the Year

• Bakers Delight
• Specsavers
• Poolwerx
• Degani

2019 eftpos Independent Retailer of the Year

• The Party People
• Birdsnest
• Brava Lingerie
• Spoilt Gift and Homewares

Tickets HERE.

About the ARA

Founded in 1903, the Australian Retailers’ Association is Australia’s largest retail association, representing a $320bn dollar sector employing more than 1.3m people. As Australia’s premier retail body, the ARA works to ensure retail success by informing, protecting, advocating, educating, and saving money for its 7,800 independent and national retail members. To learn more, visit www.retail.org.au or call 1300 368 041.

AT THE START of the new financial year, the Tax Practitioners Board (TPB) has revealed that it is currently investigating more than 350 tax practitioners who are suspected of high-risk behaviour including:

• failure to meet personal tax obligations
• over-claiming work-related expenses on behalf of clients
• egregious conduct which is considered 'black economy' behaviour
• non-lodgement of annual declarations
• non-compliance with continuing professional education (CPE) requirements.

A number of these cases were as a result of referrals from the Australian Taxation Office (ATO). The TPB said it continued to work closely with the ATO to identify high-risk behaviour.

TPB CEO, Michael O’Neill said the TPB handed down heavy sanctions for some of the cases it considered in June.

"Of eight cases investigated under the debt and lodgement project, five tax practitioners had their registrations terminated for failure to meet personal tax obligations, four of these with a five-year exclusion period," Mr O'Neill said.

"And of the eight investigations into non-compliance with CPE requirements, five tax practitioners were issued with suspensions, three with cautions and all eight ordered to complete additional hours of CPE."

Mr O'Neill said six tax practitioners were also recently suspended for three months for the failure to lodge their annual declarations.

Due to multiple investigations carried out into high-risk behaviours, the TPB has recently imposed a range of penalties on tax practitioners including:

• a five-year registration termination for failing to disclose approximately $1 million in tax debt and overdue lodgement for more than 30 companies
• a five-year registration termination for fraudulently lodging income tax returns for several clients
• a five-year registration termination for not providing evidence of professional indemnity (PI) insurance coverage since 2017
• a one-year suspension due to investigations indicating the tax practitioner had engaged in conduct that suggested personal spending on cars, holidays and dining expenses over the repayment of tax obligations.

About the Tax Practitioners Board

The Tax Practitioners Board 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. Follow on Twitter @TPB_gov_au, Facebook and LinkedIn

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QUEENSLAND'S resources sector continues to underpin the economy and regional jobs after coal exports set a new State record with 21.43 million tonnes of metallurgical and thermal coal exported in June said the Queensland Resources Council (QRC).

QRC chief executive Ian Macfarlane said the 11 percent increase on the same month last year highlighted the increasing demand from world markets for Queensland’s coal.

“Queensland’s coal is the commodity of choice with our high quality thermal coal needed to power high efficient, low emissions coal-fired power plants in Asia and our metallurgical coal used to make steel is building the bridges and skyscrapers in modern cities,” Mr Macfarlane said.

“The 215,00 men and women working across Queensland’s coal industry can be proud of this achievement and it means more jobs and more revenue for Queensland. Last financial year Queensland’s resources sector paid a record $5.2 billion in royalty taxes with coal contributing $4 billion ($12 million a day) to the Government to help build new schools, hospitals and roads.

“But if we are to support jobs at home and export to the world it is essential that we have stable and reliable regulation for our resources sector in order to attract new investment which benefits every Queenslander. People want industry and Government to work together with communities and wider society to promote effective, constructive, and mutually beneficial relationships."

The data from Queensland’s major ports found the majority were operating above average monthly volumes with the Port of Gladstone recording a 5 million tonne increase in coal exports resulting from improved efficiencies and growing demand from overseas customers.

“Queensland’s exports from all resources earnt over $70 billion for the 12 months to May this year for the first time which represents 81 percent of the State’s record export earnings of $85.8 billion. In dollar terms, exports from the resources sector – coal, minerals and gas – are worth more than $190 million every day,” Mr Macfarlane said. 

www.qrc.org.au

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