CHIEF Executive Mark Stone says VECCI welcomes the Fair Work Commission (FWC) decision to introduce reasonable changes regarding the management of annual leave, as part of the FWC’s review of annual leave award provisions.

The announced changes mean:

• Employers can direct an employee to take paid annual leave in circumstances where the employee holds an excessive balance of accrued annual leave.
• Employees paid by means of EFT are able to be paid in accordance with their usual pay cycle while on paid annual leave rather than prior to commencement.
• Employers can grant an employee leave in advance.
• Employees are able to cash out a portion of their annual leave (provided their employer agrees) subject to a number of safeguards, including a residual balance of no less than four weeks annual leave. 

VECCI acknowledges the FWC has listened to the concerns of business in making these changes. We will continue to advocate for changes to our workplace relations system that support job growth, particularly given the fragility of our economy and persistently high unemployment, especially among young people.

The Victorian Employers' Chamber of Commerce and Industry (VECCI) is the most influential business organisation in Victoria, informing and servicing more than 15,000 members, customers and clients around the state.

vecci.org.au  

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The Australian Competition and Consumer Commission today released a Statement of Issues outlining the ACCC’s preliminary views on the proposed acquisition of iiNet Ltd (ASX:IIN) (iiNet) by TPG Telecom Ltd (ASX:TPM) (TPG).

The ACCC is seeking further information to determine whether the proposed acquisition would be likely to substantially lessen competition in the market for the supply of retail fixed broadband services.

“The proposed acquisition would combine two of the five largest suppliers of fixed broadband in Australia. The ACCC is exploring the extent to which the acquisition of iiNet will reduce competition by reducing the likely competitive tensions in respect of pricing, innovation and service quality,” ACCC Chairman Rod Sims said.

A DEAL to sell uranium to India, with the potential for significant employment and export benefits, will be the focus of a public hearing in Canberra on Monday.

The Parliament’s Joint Treaties Committee is completing an inquiry into the deal which would see Australian uranium sold for the first time to a country that is not party to the Nuclear Non-Proliferation Agreement.

Australian Government witnesses will give evidence on the safeguards in the deal to ensure that Australian uranium is used for safe civilian purposes only and is not diverted to military programs.

Committee Chair, Wyatt Roy MP, said the deal could improve the lives of ordinary Indians by reducing energy poverty in India.

“The deal breaks new ground and the issues involved are complex.  It is important to ensure the deal is done right,” he said.

Negotiations for the sale of uranium to India began in 2006 and agreement was reached in 2014. The Government believes the deal maintains Australia’s strong commitment to nuclear nonproliferation and disarmament.

The deal has attracted criticism from some nuclear non-proliferation specialists because India is not party to the Nuclear Non-Proliferation Treaty and has been subject to external and internal criticism for its nuclear safety record.

“The committee will be undertaking a diligent and comprehensive look at the proposal to make sure all the issues are fully explored and considered,” Mr Roy said.

Public Hearing: Monday 15 June,
Committee Room 2R1,
Parliament House, Canberra,

11.30am – 1.00pm:
Australian Safeguards and Non-Proliferation Office
Department of Foreign Affairs and Trade
Australian Radiation and Nuclear Protection Agency
Department of Industry and Science

The hearings will be broadcast through: www.aph.gov.au/live

Copies of the treaties and submissions received can be found at: http://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Treaties

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AUSTRALIA risks choking and the current tax system is not doing us any favours; in fact it is holding us back, says the Institute of Public Accountants (IPA).

“Australia’s current tax system inhibits growth and stifles entrepreneurialism and innovation,” said IPA chief executive officer, Andrew Conway.

“Do we want a tax system which continues to tax effort or a system that taxes consumption?  It is the IPA’s view that the latter should be pursued if Australia is to arrest its productivity decline and make the tax system competitive again.

“Tax reform represents one of the strongest levers the Government has at its disposal to revive productivity, competitiveness and growth.

“Australia faces dual challenges of the need to ensure fiscal sustainability and boost productivity growth to sustain growth in living standards.

“Moving to growth supporting taxes is essential to sustain Australia’s economic momentum and to meet all current and future spending needs.

“Consumption taxes such as the GST represent one of the most efficient and sustainable tax bases available and yet Australia’s GST base remains relatively narrow and covers 47 per cent of private consumption.

“We can’t keep relying on bracket creep but it will be inevitable without a change in the tax mix,” said Mr Conway.

The IPA’s submission to Treasury on the Tax Discussion Paper can be viewed at: www.publicaccountants.org.au/resources/news-and-media/submissions/tax-discussion-paper

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