ENERGY Networks Australia has welcomed the NSW Transmission Infrastructure Strategy released today by the NSW Government.
The strategy sets out to boost NSW's interconnection with Victoria, South Australia and Queensland, increase energy capacity and streamline regulation for a modernised grid.
Energy Networks Australia CEO Andrew Dillon said the NSW plan was a vital step towards a more integrated energy system that would deliver greater benefit to customers through a more resilient grid and more competitive wholesale markets.
“Around the world, modern energy systems are responding to more variable renewable generation by ensuring greater connection between generation sources and customers,” Mr Dillon said.
“NSW sits at the centre of the National Electricity Market (NEM) and is critical to the development of a more connected energy future.
“Fast-tracking the four key projects outlined in the strategy will bolster the grid's capacity and put downwards pressure on prices – a priority for network businesses across Australia.”
Mr Dillon said the sequential nature of current regulatory arrangements was slow and unsuited to the transformation underway in electricity generation.
“By providing a funding guarantee for preliminary planning work, the NSW Government can fast-track priority projects while ensuring projects will only proceed where the benefits for consumers clearly outweigh the costs,” he said.
“Networks want to keep costs as low as possible while ensuring new renewable generation can be reliably integrated into our grid. The NSW plan will help achieve this.”
About Energy Networks Australia
Energy Networks Australia represents Australia’s electricity transmission and distribution networks and gas distribution networks. Members provide energy to virtually every household and business in Australia.
THE Australian Retailers Association (ARA) and Roy Morgan’s annual pre-Christmas predictions indicate Australian shoppers will spend over $51 billion across retail stores in Australia during the Christmas trading period from November 9 to December 24, 2018.
Russell Zimmerman, executive director of the ARA, said while the Australian retail industry has seen some patchy results in recent times, the ARA and Roy Morgan are forecasting Australian consumers to spend 2.9 percent more this Christmas compared with 2017.
“With consumer spending on the rise as noted in September’s retail trade figures, the ARA and Roy Morgan are confident that this year’s Christmas sales will remain strong during the festive season, with a 3.67 percent total year-on-year growth across the retail sector,” Mr Zimmerman said.
“An estimated $21 billion is expected to be spent on Food this Christmas, which is a 3.7 percent increase from the previous year and coincides with the consistent figures recorded from this category throughout 2018.”
Apparel and Household Goods will also record a significant increase in trade, with the ARA and Roy Morgan predicting $4 billion to be spent on clothing, footwear and personal accessories, a 3.1 percent increase from the previous year, while over $9 billion is expected to be spent on Household Goods, a 2.0 percent increase from 2017.
With Aussies looking to spend quality time with friends and family during the Christmas season, restaurant and café retailers will see strong growth in sales this year, with the Hospitality category expected to increase by a substantial 3.2 percent.
Across the States and Territories, pre-Christmas sales predictions point to bumper growth for Victoria, Tasmania and South Australia during Christmas trade this year, with these regions showing the strongest predicted growth.
“Christmas is a joyous and celebrated event, admired by Australians who embrace the season of giving. With the retail landscape continuing to adapt to changes in the industry, we can rely on this season to bring stability to retailers,” Mr Zimmerman said.
“As the online retail market continues to expand, the ARA are also predicting online gift purchases to increase by 2.7 percent with Australian shoppers expected to purchase many of their gifts online this year.”
“Each year, the ARA and Roy Morgan work together to produce the only professionally researched industry Christmas predictions in Australia, and we believe the figures released today represent a comprehensive preview of retail figures leading into Christmas.”
ARA Roy Morgan Pre-Christmas Sales Predictions 2018 November 9 – December 24, 2018
Founded in 1903, the Australian Retailers Association (ARA) is Australia’s largest retail association, representing the country’s $310 billion sector, which employs more than 1.2 million people. As Australia’s leading retail peak industry body, the ARA is a strong pro-active advocate for Australian retail and works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.
THE Walkley Foundation today announced the shortlist for the Walkley Book Award, part of Australia’s most prestigious journalism accolades, the Walkley Awards for Excellence in Journalism.
The Walkley Book Award celebrates Australian writers who take enduring subjects from news, eyewitness accounts, investigations and history. Their books bring readers immersive detail, clear analysis and new revelations.
A total of 65 books were entered this year. Their subject matter ranged from true crime, politics and war to memoir, biography and investigative journalism.
The 2018 Walkley Book Award shortlisted finalists announced today in Sydney are (in alphabetical order):
Peter Greste, The First Casualty, Penguin Random House
Chris Masters, No Front Line: Australia’s Special Forces At War in Afghanistan, Allen & Unwin
Helen Pitt, The House, Allen & Unwin
The judging panel chairs, who selected the shortlist for the 2018 book award, are:
Colleen Ryan, journalist and author
Paul Bailey, editor, The Australian Financial Review
Pamela Williams, investigative journalist
The winner of the 2018 Walkley Book Award will be announced at the 63rd Walkley Awards for Excellence in Journalism on Thursday November 22, at the Brisbane Convention and Exhibition Centre, thanks to the support of Tourism and Events Queensland.
The awards will be broadcast live on Sky News Extra Foxtel channel 604 and streamed live on the Walkley website (walkleys.com) from 8:30pm AEDT.
A full list of Walkley Awards finalists is available at walkleys.com.
QUEENSLAND Resources Council (QRC) chief executive Ian Macfarlane has welcomed the Land Court’s decision on New Hope’s New Acland Stage 3 mine expansion near Toowoomba.
"The ruling will be welcome news for the people of Oakey and the Darling Downs whose future livelihoods would have been in jeopardy with resources depleting," Mr Macfarlane said.
"The New Hope mine is one of the region’s most significant employers and one of the most important economic contributors for the Darling Downs.
"This is new hope for New Hope and the 3,000 workers who rely on the Acland Coal Mine for their living either directly or indirectly," Mr Macfarlane said.
"With the expansion, the mine will be able to produce 7.5 million tonnes of coal per annum for 12 years, providing more jobs, more economic opportunity and more revenue for every tier of government. Construction of the mine would be over a three-year period and the mine would operate until 2031.
"In terms of direct employment, with the expansion the mine will employ 726 staff and contractors in 2025; without the expansion it would employ only 35."
The Queensland Government will now make its final decision on the approval of New Acland Stage 3.
CHAIR of the Tax Practitioners Board (TPB), Ian Taylor, has today welcomed the decision of the Federal Court in the most recent case of Philip Ham.
Mr Ham was sued by a former client for breaches of ‘fiduciary obligations’ or trust after he derived millions of dollars from the sale of land in which his former client had an interest. He was later disciplined by his professional association and was excluded from membership but failed to disclose these issues to the TPB.
In 2017, the Administrative Appeals Tribunal (AAT) affirmed the TPB decision to reject Mr Ham’s renewal application for registration, determining his conduct was "inconsistent with the qualities of moral soundness, uprightness and honesty that one would expect of a tax agent". Mr Ham pursued his case with an appeal to the Federal Court.
Justice Logan dismissed the appeal on Friday and upheld the AAT decision which affirmed the TPB’s rejection of Mr Ham as a tax agent as he was not a "fit and proper person".
Mr Taylor said the Federal Court’s decision confirms the high ethical and professional standards expected of a trusted adviser like a tax practitioner.
"This case is an important reminder for all members of the tax profession to act with competence and integrity, to ensure that the community, the TPB and the ATO can have confidence that services are provided with professionalism," Mr Taylor said.
"Tax practitioners are engaged by three quarters of individual Australian taxpayers and entrusted to manage their tax affairs in compliance with the law. It’s important that agents respect the mutual trust between client, agent and the TPB, and act properly to protect the public and to ensure the integrity of the tax system."
Mr Taylor added that the TPB takes these matters seriously, with around 400 current investigations into tax practitioners across Australia.
"This is particularly important following ATO research linking some tax practitioners with overclaimed deductions, tax avoidance and evasion."
Mr Taylor urged taxpayers with concerns about their tax practitioners’ services to contact the TPB at www.tpb.gov.au/complaints
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