THE Turnbull Government is taking an mportant step to better target the Research and Development Tax Incentive (R&DTI), today releasing draft legislation for public comment.

The Treasurer, Scott Morrison MP, alongside the Minister for Jobs and Innovation Senator Michaelia Cash, said the consultation will help strike the right balance for the R&DTI — the Government’s key program for supporting business R&D in Australia.

“We are committed to backing R&D investment and the economic opportunities and jobs it generates. At the same time we need to make sure that the investment of taxpayers’ money is well targeted by encouraging companies to do more, and not just be rewarded for R&D they would have conducted without an incentive,” the Treasurer said.

Minister Cash said the proposed amendments ensure the reforms operate consistently with their policy intent and continue to provide targeted and effective support to innovative Australian companies that undertake R&D in Australia.

“By better targeting R&D investment, these changes will lead to new ideas, products, services and jobs,” Mr Cash said.

The amendments to the R&DTI form the Government’s response to the recommendations of the 2016 Review of the R&D Tax Incentive and the Innovation and Science Australia 2030 Strategic Plan.

The Turnbull Government is seeking stakeholder feedback on the implementation of the proposed amendments. The exposure draft legislation, explanatory materials and consultation document are available on the Treasury website. Interested stakeholders are encouraged to provide their views by Thursday July 26, 2018.

Submissions can be emailed to R&This email address is being protected from spambots. You need JavaScript enabled to view it. during the consultation period.

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BUSINESS and procurement professionals from around the Asia Pacific region will be networking and discussing the latest issues in global business as CIPS holds its annual conference and awards in the ICC Venue in Sydney on July 4-5, 2018.

The two day event starts with a ‘focus’ day where delegates can hear panel debates on ethics, eradication of modern slavery and sustainable procurement and how businesses can engage with indigenous suppliers. The second day, the future of procurement, creating diversity and talent management in presentations and workshops. There is also a strong focus on modern slavery.

Now that the Australian Government has introduced The Modern Slavery Bill 2018 to become law by where over 3000 companies and organisations will have to produce an annual statement clearly stating their exposure to modern slavery, procurement and supply chain managers will be on the frontline protecting their supply chains, their businesses and seeking guidance.

The reporting requirement will support Australian businesses to create their modern slavery statements and will offer more information to consumers and investors by providing a practical, risk based framework and guidance. This will increase business awareness of modern slavery, reduce modern slavery risks in Australian goods and services, and drive a business ‘race to the top’ to improve workplace standards and practices. 

The Australian Government has run a comprehensive national consultation process to develop the reporting requirement, including 12 consultation roundtables with over 130 participants, 99 written submissions and over 50 direct meetings with key stakeholders.  The conference will explore these issues and more.

Conference and panel speakers include:

• Gerry Walsh, Group CEO CIPS on the future of procurement
• Mark Lamb, MD of Asia Pacific and conference chair
• Jennifer Morris, CEO, Walk Free Foundation
• Lisa Brock, Chief Procurement Officer, Qantas Airways
• Peter Curcio, Chief Procurement Officer, Australia and New Zealand Banking Group
• Mike Blanchard, Deputy Chief Executive Operations Directorate, Tertiary Education Commission

Mark Lamb, managing director of CIPS Asia Pac, conference chair who also featured recently on ABC News about modern slavery said, “We take slavery in supply chains very seriously, so this conference is timely as the Bill goes through to become law.

“I think this is an excellent first step for Australia because we have already seen it implemented in other countries, and for Australia to have taken the next step is a great move. Understanding what goes on in international supply chains is crucial for any businesses. The exposure to reputation and cashflow damage is intense as consumers and other businesses are becoming more savvy to the horrors of this evil trade.

”Come to the conference and find out more.”

CIPS is also holding its annual awards ceremoney on July 5 to celebrate the best procurement individuals, teams and practice. The shortlist includes:
- NSW Prcourement (Dept. of Finance services and Innovation)
- University of Melbourne
- Western Power
- Queensland Government Procurement, Department of Housing and Public Works
- Wide Bay Hospital and health Service & EY

Find out more on the website.


The Chartered Institute of Procurement & Supply (CIPS)
The Chartered Institute of Procurement & Supply (CIPS) is the world’s largest procurement and supply professional organisation.  It is the worldwide centre of excellence on procurement and supply management issues.  CIPS has a global community of over 200,000 in 180 different countries, including senior business people, high-ranking civil servants and leading academics.  The activities of procurement and supply chain professionals have a major impact on the profitability and efficiency of all types of organisation and CIPS offers corporate solutions packages to improve business profitability. 
In the Australasia region, CIPS has been supporting the profession for over 10 years and lists among its clients several blue-chip organisations including Rio Tinto, Air New Zealand, Spotless, Woolworth and the New Zealand Defence Force.

www.cips.org/en-au/; @CIPSAustralasia

QUEENSLAND coal exports are yet to feel the full force of the repeated threat by monopoly rail operator Aurizon to stop the movement of up to 20 million tonnes annually from mine to port.

Queensland Resources Council chief executive Ian Macfarlane said it was unsurprising that coal exports were higher this year compared to 2017 due to stronger global demand and the impact of Tropical Cyclone Debbie that crossed the coast in March last year.

“Aurizon’s threat - repeated to investors last week - will have a bigger impact on coal exports than Tropical Cyclone Debbie and it will be spread over the year, not just the wet season,” he said.

“Our trading partners, particularly Japan, are watching Aurizon’s actions closely. Coal is our top export commodity with overseas sales more than $30 billion annually.

"Aurizon continues to gloss over the facts. The coal industry is prepared to sit down with them to develop a united position to the Queensland Competition Authority. But we won't do it with a threat hanging over our head.

"Aurizon needs to resume normal maintenance practices immediately and keep that commitment until the next QCA undertaking is finalised and implemented. They need to remove the threat. We won't negotiate under duress."

The loss of up to 20 million tonnes of coal will slash exports by $4 billion per annum and cut royalties used to pay for State Government services and infrastructure by a staggering $500 million per year.

www.qrc.org.au

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THE Australian Retailers Association (ARA) said although May trade figures released today by the Australian Bureau of Statistics (ABS) are above market expectations, they represent a weaker lead-in to winter than retailers would have liked, displaying a 2.49 percent total growth year-on-year.

Russell Zimmerman, executive director of the ARA, said due to the slow lead-in to winter this year, May retail trade results portray a dim outcome for retailers across the country.

“Although May’s 2.49 percent year-on-year growth seems quite dismal, we need to take into account that this was before the second stage of the penalty rate reduction was implemented and the low-value import threshold (LVIT) GST was introduced,” Mr Zimmerman said.

“While the ARA are concerned with this meek growth, the retail industry received two big wins on July 1 and we look forward to the benefits this will bring our retailers, their staff and the overall economy.”

Food Retailing (3.71%) and Clothing, footwear and personal accessories (3.20%) remained strong, with both categories receiving over 3% growth year-on-year.

“The biggest growth across the ABS retail categories were Liquor (5.95%), Other Retailing (5.77%) and Specialised Food (5.06%) as these categories all received over 5 percent year-on-year growth,” Mr Zimmerman said.

“Another positive for May trade is the fact that Department stores have received their best figures since October last year, this could be because they began their mid-year sales earlier.”

Across the country, the Northern Territory (4.27%) continues to improve its upward trend, closely followed by Tasmania (3.82%) and Victoria (3.69%). New South Wales (2.86%), South Australia (2.35%) and the Australian Capital Territory (2.22%) remain steady, while Queensland (1.97%) received minimal year-on-year growth.

"Unfortunately, we’ve seen Western Australia (-0.74%) continue to struggle, returning to negative figures and significantly lagging behind the rest of the country," Mr Zimmerman said.

“The Northern Territory has received its best growth in over a year, which is an encouraging sign for retailers in the top-end of the country."

“And I’m pleased to say at the other end of the country, we can see confidence returning to Tasmania after the State election in March.”

Monthly retail growth (April 2018 – May 2018 seasonally adjusted) 

Department stores (3.87%), Other retailing (-0.09%), Food retailing (0.29%), Clothing, footwear and personal accessory retailing (2.23%), Cafes, restaurants and takeaway food services (-0.99%) and Household goods retailing (0.06%).

Tasmania (1.51%), South Australia (1.13%), New South Wales (0.51%), Queensland (0.43%), Northern Territory (0.41%), Victoria (0.23%), Australian Capital Territory (0.02%) and Western Australia (-0.45%).

Total sales (0.37%). 

Year-on-year retail growth (May 2017 – May 2018 seasonally adjusted)

Food retailing (3.71%), Clothing, footwear and personal accessory retailing (3.20%), Department stores (2.06%). Other retailing (1.58%), Cafes, restaurants and takeaway food services (1.44%) and Household goods retailing (1.12%). 

Northern Territory (4.27%), Tasmania (3.82%), Victoria (3.69%), New South Wales (2.86%), South Australia (2.35%), Australian Capital Territory (2.22%), Queensland (1.97%) and Western Australia (-0.74%).

Total sales (2.49%).

About the Australian Retailers Association:

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.

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