Skip to main content

Business News Releases

Two Australian trade agreements to help bolster global trading system

THE Joint Standing Committee on Treaties has today tabled a report on Australia’s proposed free trade agreements with Indonesia and Hong Kong.

Committee chair Dave Sharma MP stated that at this time of growing global economic uncertainty and mounting trade tensions, countries like Australia needed to stand up for the principle of free trade and shore up the foundations of the global trading system.

“While dealing with different issues and contexts, these free trade agreements will create new opportunities for Australian-owned businesses in the region, and help bolster the global trading system at a time of growing uncertainty,” Mr Sharma said.

"Indonesia has a population of 270 million people, a solidly growing economy, and is on track to become one of the world’s most significant economies in the years ahead.

"The agreement with Indonesia has the potential to transform our economic relationship, and lift it to a level that better reflects the strategic importance of our countries to one another.

"Australian grain and citrus growers, cattle producers, mining equipment providers and vocational education suppliers all stand to benefit from improved access to the Indonesian market which the agreement provides," Mr Sharma said.

"But beyond this, and as the name implies, the Indonesia Australia Comprehensive Economic Partnership Agreement goes on to lay the foundations for a comprehensive economic partnership with our largest northern neighbour.

"It will support Indonesia’s own economic growth, by supporting Indonesian capacity in key areas, and position Australia as a partner of choice. It will improve the business and investment environment. It will provide a vehicle to tackle emerging issues in trade such as non-tariff and regulatory barriers, the digital economy, competition policy, transparency and telecommunications cables," he said.

"Indonesia is one of Australia’s highest priority relationships, and this agreement will help grow our ties in a part of the relationship that has been historically underdone.

"Our economic and trading relationship with Hong Kong, one of Asia’s most open economies, is already well-established and advanced," Mr Sharma said. "In 2018, Hong Kong was Australia’s 12th largest trading partner overall, with total two-way trade in goods and services worth $17.8 billion.

"The Australia Hong Kong Free Trade Agreement largely codifies existing trade and market access arrangements, providing certainty into the future.

"It also modernises the treatment regime for foreign investors, making investor state dispute settlement mechanisms more transparent and more constrained, and improving safeguards for governments wishing to adopt legitimate public policy measures in areas such as tobacco control.

"In considering this agreement, JSCOT heard from witnesses about the ongoing civil disturbances and political instability in Hong Kong," Mr Sharma said. "The committee supports a peaceful resolution of these issues, within the 'one country, two systems' framework and Hong Kong’s institutions.

"The committee recognises that the preservation of Hong Kong’s unique status under the Basic Law, under which it enjoys a high measure of autonomy, is in Australia’s national interest, and views ratification of the agreement as a means of supporting this unique status," Mr Sharma said.

The committee has recommended ratification of both treaties.

More information about this committee is on its website.

ends

 

Yellow research: Australian small business owners struggle in silence with stress and anxiety

ALMOST HALF of Australian small business owners feel stressed or anxious about work every day, yet most don’t seek help, according to a recent survey by Yellow.

Yellow surveyed 100 small business customers across the country from a wide range of sectors and found 40 percent of respondents are stressed about work, but an alarming 72 percent do not seek any help. This was most prevalent among small business operators aged 51 or above.

The survey investigated the impact of running a small business on the mental wellness of SMB owners, and how they cope with it.

Three quarters of the survey respondents have been running their business for more than 10 years, a tell-tale sign that managing work-related stress does not come any easier for seasoned SMB operators.

Managing business finances (32%), juggling multiple responsibilities (26%) and no work-life balance (16%) were cited as the top stressors. Half of those surveyed say they work more than nine hours per day – significantly higher than the daily average of 7.6 working hours.

One in five say not only their productivity takes a hit as a result of their work anxiety, but they also feel the brunt of it on their personal relationships. Despite this, 22 percent cite not wanting to be a burden to others as a deterrence from seeking help, while 14 percent say they are not sure where or who to seek help from.

“Running your own business can be hugely rewarding but it comes with high pressure and often small business owners find it hard to switch off from work after hours,” Yellow executive general manager James Ciuffetelli said.

“Having worked with Australian small businesses for more than four decades, we understand the challenges that come with being a small business owner. With Mental Health Week raising awareness of the issue this week, we want to remind all small business operators to take the first step of reaching out to someone – whether that’s a friend, a partner or a family member – and start a conversation about their mental wellbeing.” 


Yellow has produced a mental health handbook for small business owners in partnership with RUOK?, which is available for download here.

About Yellow

Yellow helps everyday Australians find, choose and connect with the best local businesses Australia wide. Yellow is the longest standing business directory, helping consumers solve their everyday life admin pressure and get things done. As the digital marketing experts, Yellow also champions Australian small to medium businesses. Yellow has an extensive range of digital marketing solutions including Yellow SEM, Yellow SEO, Yellow Digital Display, Yellow Social Ads, Yellow Websites and Pocket Office. Yellow is a division of Sensis – one of Australia’s leading marketing services companies. Other Sensis brands include White Pages, Sensis Data Solutions and Skip. Consumers use www.yellowpages.com.au. Businesses use www.yellow.com.au

About Sensis

Sensis helps Australians connect and engage through its leading platforms. Sensis helps create and manage valuable connections via itsdigital consumer businesses (Yellow, White Pages, True Local, Whereis and Skip), search engine marketing and optimisation services, website products, social, data and mapping solutions, and through its digital agency Found. Sensis is also Australia’s largest print directory publisher including the Yellow Pages and White Pages. www.sensis.com.au

ends

Further public hearing on nuclear energy

THE House of Representatives Standing Committee on the Environment and Energy is holding a further hearing in Sydney on the prerequisites for nuclear energy in Australia.

The committee will hear from a number of witnesses during the course of the day.

A full program is available on the inquiry website at https://www.aph.gov.au/nuclearpower.

Public hearing details:

Date: Wednesday, October 9, 2019

Time: 9am to 4:35pm
Location: Portside Conference Centre, 207 Kent St, Sydney

The hearing will be broadcast live at aph.gov.au/live.

The committee intends to hold further public hearings, which will be announced in due course on the inquiry website: https://www.aph.gov.au/nuclearpower.

ends

First gas at Senex's Project Atlas another win for Qld jobs: QRC

THE Queensland Resources Council has welcomed first gas produced from Senex Energy's Project Atlas near Wandoan in the Surat Basin.

QRC chief executive Ian Macfarlane said the achievement from Brisbane-based Senex was testament to the diversity of Queensland's gas industry and getting the State Government's policy settings to promote development of gas in Queensland for Queensland use.

"Queensland has both large and small producers such as Senex supplying gas which allows all gas fields to be developed. Everyone benefits when we develop our gas responsibly," Mr Macfarlane said.

“Gas from Atlas will supply Queensland manufacturers, including CSR, Orora and O-I and coincides with the completion of a pipeline connecting the project to the Wallumbilla gas hub.”

Project Atlas was granted a domestic only supply lease by the Queensland Government in March 2018.

“At the time it was a pilot guarantee for gas for domestic use which avoided the overly prescriptive conditions in a gas reservation policy. Now it's a flagship example of best-practice regulation in action – fast, effective and focussed on outcomes," Mr Macfarlane said.

“This project vindicates the Palaszczuk Government’s decision to release land specifically for developing gas for the domestic market but sadly Queensland continues to do all the heavy lifting to provide extra gas for the eastern Australian market.”

www.qrc.org.au

ends

Off again, on again - super guarantee amnesty

THE Institute of Public Accountants (IPA) has commended the Federal Government for reconfirming its commitment to ease the Superannuation Guarantee (SG) penalty regime by reintroducing a Bill for a one-off amnesty for historical SG underpayments.

“With increased transparency around when employers make SG contributions on behalf of employees thanks to Single Touch Payroll (STP), it is an opportune time for employers to make good any outstanding SG liability without the full draconian penalty regime applying, which acts as a disincentive in coming forward,” said IPA chief executive officer, Andrew Conway.

“We fully support the extended amnesty as it gives employers who wish to be compliant the opportunity to make good past underpayments and we encourage all Parliamentary parties to support the measure.

“The Opposition previously did not support the amnesty on the basis that employers should not be rewarded for SG non-compliance.

“While any non-payment of this worker entitlement represents wage theft; a practice never to be condoned, the IPA supports this amnesty period as it incentivises employers to come forward and do the right thing by their employees by paying any unpaid superannuation in full.

“We acknowledge that small businesses can sometimes experience cash flow issues, making them vulnerable when it comes to meeting their SG obligations by the required due date.  This amnesty gives them time to atone.

“At the end of the day money is been directed into employee’s superannuation accounts with some interest added and that’s a good thing.

“Employers that do not take advantage of the one-off amnesty will face significantly higher penalties if they are subsequently caught. In addition, throughout the amnesty period the ATO will continue its usual enforcement activity against employers.

“We are now urging all parties to support the amnesty and make it happen for employers to make the most of the situation,” said Mr Conway.

***Ends***

About the Institute of Public Accountants

The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies.  In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than 37,000 members and students in over 80 countries.  The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants. 

Political donation disclosure bill under review

THE Electoral Matters Committee has commenced a review into the Commonwealth Electoral Amendment (Real Time Disclosure of Political Donations) Bill 2019.

The bill, introduced to the House of Representatives by Member for Mayo Rebekha Sharkie, would amend the Commonwealth Electoral Act to require the agent or financial controller of the party, branch or campaigner to advise the electoral commission, within five days, of any donation received by the party, branch or campaigner that meets or exceeds the disclosure threshold of $13,800.

The Committee invites written submissions addressing any or all aspects of the bill.

Prospective submitters are advised that any submission to the Committee’s inquiry must be prepared solely for the inquiry and should not be published prior to being accepted by the Committee.

Submissions are requested by October 21, 2019. Further information about making a submission to a committee inquiry can be found at the following link.

Further information on the inquiry can be obtained from the Committee’s website.

ends

ATO kicks off Stay Smart Online week as online tax fraudster heads to jail

A MAN charged with 106 offences has been sentenced to five years jail today at the Brisbane District Court after it was found that he lodged 62 fraudulent income tax returns, attempting to obtain over $500,000 in refunds.

Between August 2015 and July 2016, Micah Robby Elstak used the aliases Robert Ketting-Oliver and Ryan McCarthy to orchestrate an elaborate online job scam through various companies, ultimately stealing the identities of 52 taxpayers.

After conducting fake interviews over the phone, Mr Elstak would email applicants to confirm they had been successful in their application for the job. He would also request a scanned copy of their driver’s licence, bank account details, tax file number and shirt size. 

Mr Elstak used this information to fraudulently create myGov accounts, or if they already had an account, he used the information to take over their account and change the details as required. He would then link the myGov accounts to ATO online services where he would lodge false income tax returns in their names. The resulting refunds were credited to one of 63 bank accounts in his control.

Many of the taxpayers reported the scam after they realised the job didn’t exist.

Internal bank anti-fraud measures, in conjunction with efforts by the ATO and Queensland Police Service, resulted in $378,099 of the $565,895 Mr Elstak claimed being stopped before it reached his bank accounts.

Assistant Commissioner Ian Read welcomed the sentence handed down today.

“As demonstrated today, people who try to cheat the tax system will get caught and we will take firm action, including penalties and criminal prosecution”, Mr Read said.

In light of Stay Smart Online week, Mr Read said that this sentencing serves "as a timely reminder for people to be aware of what you share".

“Never give out your personal identifying information unless you are certain of who you are speaking to. If your TFN (tax file number) or other personal information has been stolen, disclosed to or used by an unauthorised person call our Client Identity Support Centre on 1800 467 033," Mr Read said.

“Remember, your employer will only need details like your TFN and bank account through a TFN declaration form once you commence your employment.

“To protect taxpayers’ information, we are also encouraging myGov users linked to the ATO to update their myGov sign-in options and opt to receive a security code by SMS. It’s a quick and secure way to sign in to access ATO online services.

“You can help stop refund fraud. If you suspect someone of being involved in tax fraud, you should report it," Mr Read said.

Reports can be made to the ATO anonymously at ato.gov.au/tipoff.

ends

Carers celebrated as National Carers Week launches next week

AUSTRALIA'S 2.7 million unpaid carers will be recognised and celebrated during National Carers Week 2019 this October.

The national campaign will officially launch in Brisbane on Friday, October 11, at the Gala Lunch event hosted by Carers Queensland at Hillstone, St Lucia.

National Carers Week runs from October 13- 19 and it helps raise awareness of caring, highlight the challenges carers face and recognise the vital contribution they make to families and communities throughout Australia. 

The theme for this year’s campaign is ‘Why We Care’ and it encourages Australians to visit the Carers Week website (carersweek.com.au) to share their stories and say why they care.

Jim Toohey, chair of Carers Queensland said Carers Week is an opportunity to raise community awareness among all Australians about the diversity of carers and their caring roles.

“One in eight Australians is a carer. The value of their caring role estimated at $60.3 billion per year and yet carers often experience social isolation and find it harder to maintain employment, enter the workforce or participate in education,” Mr Toohey said. 

“In Queensland, there are 474,300 carers providing 334 million hours of care annually.

“Carers, the people they care for and their families are at the centre of everything we do. We work with them to improve their quality of life,” he said. 

The Gala Lunch event will be attended by carers, State Government representatives and other dignitaries, with entertainment by guest speaker, medical doctor and author Helena Popovic.

During the event, state winners of the Carer-Friendly Business Awards will be announced, acknowledging those individuals and businesses who have made a real difference in the community.

As part of the National Carers Week celebrations, Carers Queensland will also be running a range of events and awareness activities across Queensland for the broader community to get involved and say why they care. 

For more information on Carers Week events or to get involved visit http://carersqld.com.au/carers-week or contact Carers Queensland on 1800 242 636. 

Event Details 
Date: Friday, October 11 2019
Venue: Hillstone, St Lucia
Carawa Street, St Lucia 
Time: 12–3pm. 
Awards presentation at 2pm.

ends

QRC welcomes collaborative approach to gas supply

The Queensland Resources Council (QRC) welcomes the completion of the 60km pipeline that will connect Senex’s Project Atlas gas project (near Wandoan) to Queensland Gas Pipeline at Wallumbilla.

QRC chief executive Ian Macfarlane said infrastructure company Jemena built the pipeline which was made possible after the Palaszczuk Government approved Project Atlas for domestic-only gas production in March 2018.

“I congratulate industry for partnering together to deliver more gas to the east coast market and the Palaszczuk Government for helping to put downward pressure on energy prices,” Mr Macfarlane said.

“The Palaszczuk Government has been very proactive in its support of the gas industry but other states must back their own industry and explore for their own gas.

“Queensland manufactures such O-I Australia, CSR and Orora can access this gas to power their businesses which can power further jobs. Already this pipeline project has created around 150-200 jobs."

Mr Macfarlane said last week APLNG sold 61 petajoules of gas (supply for approx. 1.5 million homes per year) to Origin for the domestic market.

“These are more examples of Queensland’s gas industry leading the nation with a forward looking approach to developing its gas reserves.”

www.qrc.org.au

ends

1000 coal jobs a step closer with Environmental Authority for Olive Downs mine

THE Queensland Resources Council (QRC) has welcomed the ongoing progress on development of the Pembroke Resources Olive Downs coking coal mine, bringing up to 1000 jobs closer.

QRC chief executive Ian Macfarlane said Pembroke Resources’ announcement that the project had received its Environmental Authority (EA) for the $1 billion Olive Downs project, near Moranbah, was good news for Central Queenslanders.

“The Olive Downs mine will create up to 500 jobs during construction and up to 1000 once fully operational.  The finalisation of the EA is an important next step to bring this project closer to a reality.

“A clear timetable and a set of milestones for development are important for all resources projects, given the size of each investment and the time needed for planning.”

Mr Macfarlane said Olive Downs will be one of the largest open cut coking coal mines in the world and more importantly a significant contributor to royalty payments which build the vital infrastructure which benefits all Queenslanders.

“This is more good news for Queensland’s coal industry. It’s high-quality coal, close to ports and highlights the wealth of opportunities Queensland can generate from the largest exporting coking coal basin in the world, the Bowen Basin.

“The Isaac region is a heartland for our resources sector, creating so much of the wealth that benefits our state. This project will be another valuable addition to Queensland’s world-leading resources sector.”

Queensland’s resource sector operates within a strict environmental management framework while using only 0.1 per cent of Queensland’s land mass.

www.qrc.org.au

ends

Question Time survey: Australians' answers sought

AN online survey launched today makes it easy for Australians to have their say about improving question time in the House of Representatives.

Bert van Manen, the chair of the House Procedure Committee, said the survey is part of a parliamentary inquiry into the way question time is run.

"The survey lets you quickly and easily provide your thoughts about what we could do differently during question time," Mr van Manen said. "It takes just a few minutes to do."

Committee Deputy Chair Milton Dick said it is a great opportunity for everyday Australians to get involved.

"We’re open to all ideas and this is just one way that people can provide feedback," Mr Dick said. 

"People can also provide written submissions until the survey closes on October 31."

In its inquiry, the Committee will consider ideas about the format of Question Time, how questions can be asked and the standing orders that govern question time. The behaviour of individual MPs is not part of the inquiry.

The Committee is also consulting MPs and looking at how question time operates in other parliaments.

"We want to get feedback from a broad range of people," Mr van Manen said. "I encourage everyone to have their say."

For more information about this Committee, visit its website https://www.aph.gov.au/Parliamentary_Business/Committees/House/Procedure.

On the site, people can make a submission to an inquiry, read other submissions, and get details for upcoming public hearings.

ends