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74 Tax practitioners targeted for concerning behaviour

THE Tax Practitioners Board (TPB) is undertaking a review of registered tax practitioners believed to have provided false information to the Commissioner of Taxation.

The review identified 74 tax practitioners that lodged 2017 and 2018 self-managed superannuation fund (SMSF) annual returns with an incorrect, perhaps fraudulently recorded, SMSF Auditor Number (SAN).

An Australian Taxation Office (ATO) compliance campaign that commenced last year, found that 74 practitioners representing 106 funds have lodged annual returns for the 2017 financial year with an incorrect SAN and failed to satisfactorily respond to ATO inquiries. The ATO then referred the matter to the TPB.

SMSFs are an important component of Australia’s taxation and superannuation system and SMSF auditors play a critical role in ensuring the integrity of the system through the annual audits of SMSFs. These audits must be completed by an approved SMSF auditor before an SMSF annual return can be lodged.

TPB chair, Ian Klug AM said, "‘SMSF trustees rely on their superannuation savings to fund their retirement. The Australian Government relies on regulators like the TPB, the ATO and tax practitioners to ensure that these funds are properly managed.

"The TPB will be demanding an explanation from all 74 tax practitioners. Misconduct or failure to adequately respond to the TPB’s inquiries is a breach of the Code of Professional Conduct and may result in imposition of sanctions including suspension or termination of registration."

 

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. 

Twitter @TPB_gov_au, FacebookLinkedIn

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Tax agent banned for tax avoidance scheme

THE Tax Practitioners Board (TPB) announced that the registration of Christopher Phillip Allenby, a former partner of KPMG from Sydney has been terminated.

Mr Allenby had been associated with a client’s scheme to underpay millions in taxes and penalties. He was banned from practice for three years.

The TPB chair, Ian Klug AM called on all tax practitioners to "act lawfully and ethically, especially now when the majority of practitioners are working hard to support their clients, including accessing stimulus measures to protect the Australian community and economy".

"We will act firmly against tax agents who engage in evasion or avoidance of taxes," Mr Klug said.

Following investigations by the ATO and the TPB, it was found that Mr Allenby was associated with a client’s scheme to avoid $3.1 million in taxes and penalties.

This involved a purported sale of assets, changing the ownership of companies and related discretionary trusts and using complex call options.

Mr Klug said Mr Allenby was aware, or should have been aware, that these schemes were in breach of tax and other laws. A failure to undertake appropriate enquiries, of itself, could amount to incompetence and result in the Board taking firm action.

"The community invests trust in tax agents acting with integrity and competence," Mr Klug said. "They do not expect advisers to lodge incorrect returns or obstruct the proper administration of the tax system."  

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.

Twitter @TPB_gov_au, FacebookLinkedIn

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Ventia confirms regulatory approvals achieved for Broadspectrum acquisition

VENTIA has been notified by the Foreign Investment Review Board (FIRB) that the Australian Government has no objection to Ventia’s proposed acquisition of Broadspectrum.

Under the terms of the agreement with Ferrovial, completion of the acquisition is expected to occur on June 30, 2020.

Ventia chairman David Moffatt, said, “We look forward to an exciting future for our combined organisation. Our two businesses are highly complementary, and together, we will provide a broader, deeper and more compelling infrastructure services offering to our clients across Australia and New Zealand.”

Broadspectrum (formerly Transfield Services) was founded in Australia in 1956, while Ventia combines more than 30 years of industry knowledge and was created by the merger of Leighton Contractors Services, Thiess Services and Visionstream in 2015.

The transaction, financed through existing funding and acquisition debt finance, was announced on December 23, 2019.

The combined group is expected to generate revenue in excess of A$5 billion. 

 

APLNG ships 500th LNG cargo

QUEENDSLAND Resources Council has congratulated ConocoPhillips and its Australia Pacific LNG joint venture on shipping its 500th cargo of liquified natural gas from APLNG’s Curtis Island plant near Gladstone.

QRC chief executive Ian Macfarlane said the state’s gas industry was continuing to deliver exports and support jobs to help with the post COVID-19 economic recovery.

“The gas industry has had to adapt to COVID-19. We have worked within the restrictions to slow the spread and keep as many of the 37,000 Queenslanders who rely on us for their work and pay on the job,” Mr Macfarlane said.

“This cargo demonstrates the world needs more than ever what we have.

“Our LNG exports pay royalty taxes to the State Government which can be used to build schools, roads and other vital infrastructure.

“In total the gas industry contributes $8 billion to the Queensland economy and invests $2.7 billion with local businesses.

APLNG’s joint partners are ConocoPhillips, Origin and Sinopec.

www.qrc.org.au

 

RMIT University Named Top Employer For LGBTQ inclusion

TECHNOLOGY and design tertiary institution RMIT University, law firm Dentons and community support agency Advance Diversity Services are among this year’s top employers and service providers for LGBTQ inclusion in Australia.

At a preliminary awards announcement for the 2020 Australian LGBTQ Inclusion Awards held online earlier today, RMIT was named Employer of the Year – for the second year in a row – while Dentons was announced Small Employer of the Year. Advance Diversity Services, which provide support services to culturally and linguistically diverse communities, was named Service Provider of the Year.

Other top honours went to Commonwealth Bank, PwC Australia and University of Western Australia, which all received the highest tiered ranking for LGBTQ inclusion.

Engineering group John Holland was named Most Improved.

The 2020 Australian LGBTQ (lesbian, gay, bi-sexual, transsexual and queer) Inclusion Awards is Australia’s leading annual celebration of LGBTQ workplace inclusion.

It is hosted by ACON’s Pride Inclusion Programs, the national not-for-profit LGBTQ inclusion support program for employers, sporting organisations and service providers. Usually held in May, this year’s event is being held on October 19, 2020 at the Hyatt Regency in Sydney.

The awards are based on the results of the Australian Workplace Equality Index (AWEI) – which is now in its 10th year – and the second Health and Wellbeing Equality Index (HWEI). The AWEI and HWEI are rigorous and evidence-based benchmarking tools that annually assesses workplaces in the progress and impact of LGBTQ inclusion initiatives.

Dawn Hough, director of ACON’s Pride Inclusion Programs, said she was excited to have been able to share the initial results of the indices and the wonderful achievements of various organisations in LGBTQ inclusion.

“This year marks an important milestone for the AWEI, as it celebrates its 10th anniversary," Ms Hough said. "Over the past decade, we have seen incredible advancements in workplace diversity and inclusion.

"As we progress further, it remains critical that not only efforts are acknowledged and congratulated, but pressure continues to be applied to maintain and build upon what has been achieved,” Ms Hough said.

“Once again, we have record numbers of employers across all sectors and states participating in the indices. The employee survey that accompanied the AWEI elicited an incredible response, which underscores the importance of LGBTQ inclusion in the workplace.

“Congratulations to all the recipients of the tiered awards announced today, including those the received bronze, silver, gold and platinum status, as well as those that received organisational awards. I commend all of them on their significant achievements and for showing great leadership in LGBTQ inclusion.”

Ms Hough said she looked forward to unveiling the recipients of the individual awards at the luncheon in October, which will hosted by SBS World News presenter Ricardo Gonçalves, feature The Voice 2016 winner Alfie Arcuri and be attended by business leaders, diversity advocates and HR professionals representing a wide variety of industries, sectors and employer sizes.

“Today’s announcement of the finalists of the individual awards gives us an insight into the amazing breadth of work being done by so many in making organisations across Australia more inclusive of LGBTQ people and communities. I look forward to celebrating their achievements at the 2020 Australian LGBTQ Inclusion Awards,” Ms Hough said.

www.prideinclusionprograms.com.au

 

PRELIMINARY AWARD RECIPIENTS

Australian Workplace Equality Index

Employer of the year

  • RMIT University

Most Improved

  • John Holland

Platinum Employers

  • Commonwealth Bank
  • PwC
  • UWA

Gold Employers 

  • AGL Energy
  • Brisbane City Council
  • Capgemini
  • Clayton Utz
  • CSIRO
  • Deloitte
  • Department of Agriculture
  • IBM
  • P. Morgan
  • NAB
  • QBE Insurance
  • SBS
  • Queensland Dept Education
  • RMIT University
  • UNSW
  • Woolworths

Silver Employers

  • Alcoa of Australia
  • ASIO
  • CBRE
  • Deakin University
  • Department of Social Sciences
  • DLA Piper
  • Energy Australia
  • Hollard Insurance
  • HSBC Australia
  • KPMG Australia
  • Macquarie University
  • Monash University
  • NSW Police Force
  • Qantas
  • ScentreGroup
  • University of QLD
  • University of Sydney
  • Westpac

Bronze Employers 

  • ABC
  • Allens
  • Allianz
  • Aurecon
  • Australian Federal Police
  • Australian Taxation Office
  • Coles
  • Department of Defence
  • Dept Education & Training
  • Department of Health
  • Department of Health & Human Services
  • Department of Industry, Innovation & Science
  • Griffith University
  • IAG
  •  Jacobs
  • John Holland
  • Maddocks
  • Mercer
  • NBN Co
  • Salesforce
  • Services Australia
  • Settlement Services International
  • Stockland
  • The Star Entertainment Group
  • Uniting
  • University of Wollongong
  • Victorian Department of Environment, Land Water & Planning

Small Employer of the Year

  • Dentons

Achievement Award for Most Improved Small Employer

  • ADSSI Limited

Gold Small Employers

  • ADSSI
  • Boston Consulting Group
  • Clifford Chance
  • Dentons
  • McCullough Robertson Lawyers
  • Oliver Wyman
  • PageGroup

Small Silver employers

  • Deutsche Bank
  • Gilead Sciences

Small Bronze employers

  • Allen & Overy
  • Pinsent Masons
  • Russell Kennedy Lawyers

 

Health + Wellbeing Index

Service Provider of the Year

  • Advance Diversity Services

Most Improved of the Year

  • ADSSI Ltd

Gold employers

  • Advance Diversity Services
  • Medibank
  • Uniting NSW/ACT

Silver employers

  • Flourish Australia
  • NADA: Network of Alcohol and Other Drugs Agencies
  • UnitingCare Qld

Bronze employer

  • ADSSI Ltd

 

AWARDS FINALISTS - WINNERS TO BE ANNOUNCED  AT THE 2020 AUSTRALIAN LGBTQ INCLUSION AWARDS

 

Australian Workplace Equality Index

Sally Webster Ally Award Finalists:

  • Belinda Young, AGL Energy
  • Hannah Wright, EnergyAustralia
  • Genevieve Hawkins, Coles

Network Leader of the Year Award Finalists:

  • Nathan Eastwood, Clifford Chance
  • Ben Brown, QBE
  • Mark Sangiuliano, CBRE

Out Role Model Award Finalists:

  • Dwayne Mullins, BHP
  • Steph Sands, Capgemini
  • Cathy Grassick, Australian Federal Police

Executive Leadership Award Finalists:

  • Glenn Morgan, Deutsche Bank
  • Alicia Albury, Maddocks
  • Gordon Williams, MinterEllison

Inclusion of Trans and Gender Diverse Employees Award Finalists:

  • RMIT University
  • NAB
  • Deakin University

Network of the Year Award Finalists:

  • P. Morgan
  • CBRE
  • PwC
  • QBE
  • RMIT University

Sapphire Inspire Award Finalists:

  • Amelia Kondilios PwC
  • Alix Sampson, AGL
  • Meri Machin-Roberts, KPMG

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Timber supply chain inquiry commences

THE House Standing Committee on Agriculture and Water Resources has launched an inquiry into timber supply chain constraints in the Australian plantation sector.

Australia’s forest products manufacturing sector is worth more than $23 billion per year. Currently, Australian plantations are unable to fully meet the sector’s demand for timber, resulting in more than 900 million cubic metres of sawn softwood being imported each year.

Rick Wilson MP, Chair of the Agriculture and Water Resources Committee, said, "More than 50,000 people are directly employed in the forestry sector in Australia, with the bulk of those working in wood product manufacturing.

"It is therefore critical for regional economies across Australia that the timber supply chain is operating effectively. The committee will be examining domestic softwood producers current and future demand for wood, the ability of the plantation sector to meet this demand, and any constraints in the supply chain reducing the plantation sector’s ability to meet demand," Mr Wilson said.

The committee is accepting submissions to the inquiry until Monday, August 17, 2020.

For further information on making a submission visit the inquiry website.

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Human Rights Sub-Committee to hear from Australian experts on Magnitsky Act inquiry

THE International Commission of Jurists, the Law Council of Australia, the Australian Human Rights Commission and the Department of Foreign Affairs and Trade will give evidence at public hearings for the Magnitsky Act inquiry on Monday and Wednesday of next week.

The public hearings being held by the Joint Standing Committee on Foreign Affairs, Defence and Trade, Human Rights Sub-Committee are part of the inquiry into whether Australia should adopt laws to impose targeted sanctions on individuals who commit human rights abuses.

The Kevin Andrews MP, Chair of the Human Rights Sub-Committee, said the inquiry would benefit from evidence from Australian legal experts and departmental officials.

"The Human Rights Sub-Committee has continued its work throughout the COVID-19 pandemic. Despite the challenging conditions, and to the credit of many witnesses and submitters, we have built a body of evidence to inform the Sub-Committee’s consideration of targeted sanctions," Mr Andrews said.

"These public hearings will add further evidence from Australian legal and human rights experts."

Public hearing details

Date: Monday 15 June 2020
Time: 8.30am – 10am
Witnesses: International Commission of Jurists and the Law Council of Australia
Location: Via videoconference

Date: Wednesday 17 June 2020
Time: 12 noon – 2pm
Witnesses: Human Rights Commission, Department of Foreign Affairs and Trade
Location: Via videoconference 

The hearings will be streamed at www.aph.gov.au/live

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Peak body welcomes Rural Health Commissioner extension

THE National Rural Health Alliance, the peak body for rural health in Australia, has welcomed the Australian Government’s announcement today that they will extend the office of the National Rural Health Commissioner past its current expiry of June 30, 2020.

“This is a good move from the Australian Government because the work of the National Rural Health Commissioner clearly isn’t over yet,” National Rural Health Alliance CEO Gabrielle O’Kane said.

“There is still a great need to improve access and quality of services in rural, regional and remote Australia and to improve issues around the rural health workforce and education pathways," Dr O'Kane said.

“The office of the National Rural Health Commissioner has been doing important work since its establishment in 2017. It’s good news that that work can continue and will be enhanced by the appointment of Deputy Commissioners.

“Now that COVID-19 has disrupted existing health policy and planning there is now a need more than ever for continuity and to pick back up some of this important work.”

Dr O’Kane thanked outgoing Commissioner, emeritus professor Paul Worley for his work since his appointment in 2017.

“Professor Worley has been a strong advocate for rural health and has worked hard to build relationships with the sector, including the Alliance and our member organisations," Dr O'Kane said.

“We look forward to working with the new commissioner and hope that they will be able to build on Professor Worley’s work.”

The National Rural Health Commissioner is an independent statutory office holder who provides policy advice to the government on rural health. Prof. Worley has held the office since it was established in 2017.

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CFMEU will fight SA trades privatisation

THE CFMEU SA will oppose the South Australian Government’s planned privatisation of trades and maintenance crews which "will make hundreds of people redundant and rob the SA people of an important public asset".

The SA Government informed workers this week that it plans to fully outsource the services of the Across Government Facilities Management Arrangement (AGFMA), cutting up to 160 jobs, including apprentices, across public hospitals, railways and trams, road transport and schools.

“Cutting jobs and making people redundant during an economic crisis is irresponsible and will only deepen the financial pain for South Australians,” said Andrew Sutherland, CFMEU national assistant construction secretary.

“The privatisation of AGFMA maintenance and service work would undercut the State Government’s own industry skills commitments and stated support for building industry jobs.

“The South Australian government’s privatisation push and the sacking of apprentices flies in the face of Scott Morrison’s commitments to training and upskilling Australians as part of the economic recovery from COVID-19.

“Steven Marshall assured South Australians before the last state election that he did not have a privatisation agenda. His actions this week show this commitment was entirely untrue and South Australians will have a right to ask what’s next on his government’s agenda.

“It is shameful to see the SA Government pursue a privatisation agenda that will cost jobs during the economic shock of the pandemic crisis. Privatisation of public services and assets has failed time and again, resulting in higher costs to the public, lower quality of service and poor outcomes for workers. Yet conservative governments remain committed to stripping public assets for private gain.

“Unions, including the CFMEU and CEPU, will vigorously oppose the privatisation push and are calling for all trades to be retained within the public sector.

“The ALP must also to commit to reverse any privatisations made under the current Liberal government in South Australia.”

Services that are likely to be affected by AGFMA privatisation are:

  • Queen Elizabeth Hospital
  • Flinders Medical Centre
  • Lyell McEwin Hospital
  • Women’s and children’s Hospital
  • Modbury Hospital
  • Royal Adelaide Hospital
  • Noarlunga Hospital
  • Pt Lincoln Hospital
  • Whyalla Hospital
  • Port Pirie Hospital
  • Building Maintenance Facilities Services (BMFS) Netley
  • Public Transport Services Netley (public transport ticketing systems)

Possible impact on country health services:

  • Barmera Hospital
  • Renmark Hospital
  • Victor Harbor Hospital
  • Clare Hospital
  • Cowell Hospital

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QRC welcomes milestone for job-generating Glencore mine in CQ

THE Queensland Resources Council has welcomed the Palaszczuk Government’s designation of the proposed $1.5 billion Glencore Valeria coal mine in central Queensland as a coordinated project.

QRC chief executive Ian Macfarlane said the Valeria coal project, near Capella on the Central Highlands, offers 1400 construction jobs and 950 ongoing jobs once operational.

“Queensland needs these jobs more than ever,” Mr Macfarlane said.

“The announcement today means the Valeria project will start the comprehensive assessment process as a coordinated project through the Office of the Coordinator-General.

“It is projects like these that create thousands of jobs and billions of dollars in investment, exports and royalties."

Last financial year, the resources sector supported 372,000 jobs and generated $74 billion in economic activity, $61 billion in exports and more than $5 billion in royalties that the Queensland Government could reinvest on behalf of all Queenslanders in services and infrastructure.

www.qrc.org.au

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Energy experts welcome Wholesale Demand Response Mechanism

THE Australian Energy Market Commission (AEMC) has announced it would introduce a Wholesale Demand Response Mechanism (DRM).

The  DRM will pay large energy users, such as water treatment plants, if they reduce their energy use at times that benefit the energy system. Reducing demand during a heatwave, or when the output of generators is very low, can help keep the electricity system stable and lower energy bills for all energy users.

This reform will support the development of more demand response capacity in the National Electricity Market (NEM), and has long been advocated by a broad coalition consumer, environment and industry groups.

AEMC chief executive, Benn Barr, said, We have considered requests to delay this reform, but we think the case for pressing forward is strongest because acting now will help keep the power system reliable and secure ahead of the 2021/22 summer. Despite COVID, we still need to keep prices down, keep the market working efficiently and work to lower emissions in the energy sector.”

Energy Efficiency Council CEO, Luke Menzel, said, "Kudos to the AEMC for pushing ahead with this crucial reform. And congratulations to the many passionate advocates that have driven this conversation over the last decade. The hard work has paid off, and resulted in a rule change that will deliver lower energy bills for everyday Australians.”

www.eec.org.au

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