THE Institute of Public Accountants (IPA) has welcomed proposed legislation to extend crowd-sourced funding to proprietary companies. 

The legislation will already apply to public companies from September 29, 2017.

"The IPA is pleased to see that the Government has recognised the need to provide an alternative source of funding for entrepreneurs and small to medium enterprises," said IPA chief executive officer, Andrew Conway.

"We are also pleased to see the reduced disclosure and compliance requirements, including those relating to the holding of an AGM; being able to post reports online; and removing the need for an auditor unless the offer is greater than $1 million.

 "This will relieve unlisted public companies from significant regulatory burdens over a five year period.  However, we are concerned about what happens after the initial five year period.

 "This legislation will now bring Australia into line with other countries that have already adopted and embraced similar laws, including the USA, UK, Canada, New Zealand and many European countries.

 "The proposed amendments will bring significant benefits that flow from bridging the 'capital gap' faced by many young and emerging start-ups.

 "Australia has a relatively poor global record of commercialising innovation and lags behind most advanced economies on this matter so addressing the lack of funding for start-ups is critical.  It is these innovative firms that drive economic transformation, and which are much needed to respond to a dynamic, global environment.

 "One concern this legislation raises is the additional volume of work it represents for the already over-worked regulator, ASIC.  ASIC will need to continue to monitor the activities of companies involved in crowd-sourced funding, as well as activities of their intermediaries and their offer platforms.

"As is always the case, investor protections will be tested by those seeking alternative, innovative or just different types of investments," said Mr Conway.

publicaccountants.org.au

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THE announcement of Adani’s final investment decision (FID) is great news for regional Queensland and a blow to the green activist campaign aimed at derailing this project at every turn according to the Queensland Resources Council.

Queensland Resources Council Chief Executive Ian Macfarlane said the FID illustrated Adani’s commitment and investment to Queensland.

“After more than a decade, and despite a relentless and well-funded anti-coal campaign, the Carmichael coal mine and rail project has reached its FID,” Mr Macfarlane said.

“This is great news for regional Queensland and will add to the prosperity our resources sector already contributes to the state, in addition to providing a reliable, high-energy, low-emission fuel to deliver electricity to some of the 300 million Indians without power.”

Electricity is a luxury to those Indians, which is taken for granted by the foreign-funded activists whose propaganda campaigns are based on fabrications, not science and due diligence, Mr Macfarlane said.

“The green activist strategy is clear, because it was leaked to the media in 2012. Stopping Australia’s Coal Export Boom, authored by the who’s who of green activist groups, details forensically how activists will try to end coal and gas production in Australia.”

The playbook states: Our strategy is to ‘disrupt and delay’ key projects and infrastructure while gradually eroding public and political support for the industry and continually building the power of the movement to win more. We are now seeing this strategy play out chapter by chapter, Mr Macfarlane said.

“Of most concern is that a portion of the anti-fossil fuel brigade is funded by overseas backers, which is why the Queensland Resources Council has backed a federal government report calling for a ban on foreign-funded donations to activist groups,” Mr Macfarlane said.

“Whether they like it or not, Australian taxpayers are being taken for a ride by a sophisticated local and foreign network of green activist groups and their rich-list local and foreign funders.

“Foreign groups are interfering in our resource development projects which have already been subject to strict legal and social scrutiny before being democratically approved.”

The resources sector is a long-standing provider of revenue and jobs to Queensland and proudly operates under some of the highest environmental standards in the world.

In 2015-16 year it contributed $55.7 billion and one in seven jobs across the state, with more than 20,000 businesses benefiting and $2.2 billion in royalties flowing into state revenues that pays for teachers, nurses and police.

www.qrc.org.au

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FAIRFAX, USA -- The Stevie Awards has announced that the last day to submit entries is June 14 for The 2017 (14th Annual) International Business Awards, the world's premier business awards competition, which attracts nominations from organizations in more than 60 nations and territories each year.

All individuals and organizations worldwide -- public and private, for-profit and non-profit, large and small -- may submit nominations to The International Business Awards. Entry details are available at www.StevieAwards.com/IBA .

An international judging panel of more than 150 executives will determine the Stevie Award winners. Results will be announced on 10 August. Stevie Award winners will be presented their awards at a gala banquet at the W Hotel in Barcelona, Spain on 21 October.

The International Business Awards recognize achievement in every facet of the workplace. Categories include:

• Management Awards 
• Company of the Year Awards
• Customer Service Awards 
• Human Resources Awards 
• Information Technology Awards
• Marketing Awards 
• New Product Awards 
• Public Relations Awards 
• Web Site Awards, Smartphone and Tablet App, and other media awards

Gold, Silver and Bronze Stevie Award winners in the 2016 IBAs included ABS-CBN Corporation (Philippines), BSES Yamuna Power Limited (India), Clickky (Ukraine ), Dogus Group ( Turkey ), Dubai Statistics Center ( United Arab Emirates ), Forter ( USA ), Foundation Telef o nica  ( Spain ), Freelancer.com ( Australia ), Ita u Unibanco Holding S.A.  ( Brazil ), KEPCO Nuclear Fuel Company ( South Korea ), Mondelez International ( United Kingdom ), Ooredoo ( Qatar ), PJSC Aeroflot - Russian Airlines  ( Russia ), Polystar  ( Sweden ), PRIZM ( Hong Kong ), QLess, Inc. ( USA ), RheinBr u cke IT Consulting ( Germany ), Roshan ( Afghanistan ), SABC Pension Fund ( South Africa ), SUNNY SIDE UP, Inc. ( Japan ), Telkom Indonesia ( Indonesia ) and TELUS International ( Canada ), among many others.

About the Stevie Awards  
Stevie Awards are conferred in seven programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, the Stevie Awards for Sales & Customer Service and the Stevie Awards for Great Employers. Stevie Awards competitions receive more than 10,000 entries each year from organizations in more than 60 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at  http://www.StevieAwards.com 

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WHILE the Australian Retailers Association (ARA) welcomes the Fair Work Commission’s (FWC) Penalty Rates Reduction decision, retailer employers will be disappointed by the excessive length of the transitional arrangements handed down today.

ARA Executive Director, Russell Zimmerman said retailers were expecting to able to ramp up employment via a quick transition to more sustainable penalty rates, though the announced arrangements will only hinder the immediate benefit to employment and growth within the sector.

“The Commission found that a reduction in penalty rates will allow retailers to extend staff working hours and increase employment across the board, therefore these sluggish arrangements will unnecessarily delay the creation of new retail jobs,” Mr Zimmerman.

“Retailers are already operating in a tough environment, and the ARA will be working with its members and legal providers to strongly defend the decision to ensure the implementation of Public Holiday rates from 1 July 2017."

The ARA will further challenge any attempt by the Shop, Distributive and Allied Employees Association (SDA) to defer the implementation of the Sunday penalty rates decision.

“The ARA will strongly oppose any application from the SDA for judicial review of the Sunday penalty rates decision, as this will only serve to prolong the benefits for retail employers, employees and overall industry growth.” Mr Zimmerman stated.

The ARA believes the Commission’s decision will be upheld in the Federal Court as the Union’s judicial review will risk all the benefits for Australian retailers, the unemployed and the broader Australian economy.

General Retail Industry Award 2010 Transitional Arrangements;
 

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $310 billion sector, which employs more than 1.2 million people. The ARA 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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THE Queensland Resources Council (QRC) welcomes today’s policy announcements by the Queensland Government of its Powering Queensland Plan to address the state’s energy needs.

This Queensland Plan has been released ahead of the Finkel review due to be released this Friday at COAG.

QRC Chief Executive Ian Macfarlane said it was good to see the Queensland Government setting an example for southern states with an energy plan and releasing more land for gas exploration.

“Once again we see Queensland showing New South Wales and Victoria on how to run an energy policy by investing in gas power and releasing another 395 square kilometres of land for new gas tenure to supply the east coast market,” Mr Macfarlane said.

“It’s common knowledge the eastern seaboard of Australia is facing a gas shortage and instead of putting their head in the sand the government is looking at how to fix the problem. This is proactive step by the Queensland government.”

The QRC is however very disappointed that the Palaszczuk Government has turned away from a technology neutral approach to electricity generation, whereby low emissions power generation is provided by the lowest cost energy source available not just renewables.

“If we are to be agnostic in terms of the sources of energy the government should also support the addition of a modern high efficiency, low emission (HELE) power plant, potentially in Townsville, using some of the highest quality, low emission coal in the world right here in Queensland,” Mr Macfarlane said.

“The government is ignoring the global shift currently underway with coal-fired power generation in countries such as Japan, with new state of the art HELE plants delivering affordable, reliable energy with a significant reduction in CO2 emissions.”

In the recent QRC State of the Sector sentiment survey Queensland resources chiefs revealed the price and supply of electricity in the state was a major concern with the decision to institute a 50 per cent renewable energy target by 2030.

“The government reaffirmed this target today and industry believes it’s risky to mandate half of the state’s energy mix, especially from an energy source that is intermittent,” Mr Macfarlane said.

www.qrc.org.au

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THE Committee on Infrastructure, Transport and Cities has commenced a new inquiry into the Australian Government’s role in the development of cities.

It will examine city planning and sustainable urban development, focusing on how to transition existing capital cities, and how to develop new and existing regional centres.

Committee Chair, John Alexander MP, said collaborative and flexible urban planning is essential to Australia’s future.

“Australia’s population is expected to double by 2075. Existing cities cannot continue to absorb this growth without affecting our high standard of living,” Mr Alexander said.

“We need options for adapting infrastructure and services in existing cities to sustainably accommodate much larger populations. We also have to examine opportunities to develop new or existing regional centres.

“Our inquiry will investigate potential for the Commonwealth Government to provide leadership and coordinate longer term national city planning to address these issues.”

The inquiry will be split into two sub-inquiries:

1)      Sustainability transitions in existing cities

• Identifying how the trajectories of existing cities can be directed towards a more sustainable urban form that enhances urban liveability and quality of life and reduces energy, water, and resource consumption;
• Considering what regulation and barriers exist that the Commonwealth could influence, and opportunities to cut red tape; and
• Examining the national benefits of being a global ‘best practice’ leader in sustainable urban development.

2)      Growing new and transitioning regional cities and towns

• Promoting the development of regional centres, including promoting master planning of regional communities;
• Promoting private investment in regional centres and regional infrastructure;
• Promoting the competitive advantages of regional location for businesses;
• Examining ways urbanisation can be redirected to achieve more balanced regional development; and
• Identifying the infrastructure requirements for reliable and affordable transport, clean energy, water and waste in a new settlement of reasonable size, located away from existing infrastructure.

Submissions are open until Monday 31 July 2017.  People are welcome to make submissions to either or both sub-inquiries, but should clearly indicate which part of the terms of reference they address. For more information about how to make a submission, contact the This email address is being protected from spambots. You need JavaScript enabled to view it..

Further information on the inquiry, including the full terms of reference, is available on the Committee website.

Interested members of the public may wish to track the committee via the website. 

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AS THE RETAIL industry’s peak representative body, the Australian Retailers Association (ARA) has proposed further changes to the 457 visa reform in a submission to the Department of Immigration and Border Protection (DIBP) ensuring the longevity of Australian retail.

ARA Executive Director, Russell Zimmerman said the ARA have long been advocating for its members on skills shortages in the local labour market and the costly flow-on effect of doing business in a competitive global market.

“Australian retailers are currently challenged by the availability of local talent to fill buying, planning and online roles in the industry,” Mr Zimmerman said.

“We have been consulting the Government and advocating for formal training and professional development options for retail employees, to support future careers in Australian retail.”

The ARA strongly believe the ability for Australian retailers to compete in a dynamic global market, and continue to employ Australian workers directly correlates with access to specialised talent.

“The recent changes to the 457 visa program have restricted Australian retailers in accessing specific roles required in modern day retailing, further crippling the growth and development of local retail talent,” Mr Zimmerman said.

Working with the Australian Chamber of Commerce and Industry (ACCI) the ARA surveyed its members on how the 457 visa changes will have a major impact on future business growth, securing retail talent, promoting local employees and international competitiveness.

The survey identified Retail Buyers, Merchandise Planners, Merchandise Designers and Digital Commerce as four critical roles required in contemporary retailing and assisted the ARA in formulating an accurate response to the Department on the proposed 457 visa changes to ensure current and future applicants for these particular roles are not affected.

The ARA’s submission highlights the adverse effects to the sector caused by the removal of certain retail occupations and asks the Department to reinstate the Retail Buyer to the Short Term Skilled Occupation List.

The submission further seeks a more sophisticated and inclusive approach in identifying strategic retail occupations prior to any reforms being implemented and recommends a pathway for highly skilled visa holders in key retail categories to be offered permanent residency.

Taking a longer-term view, the ARA supports the development and implementation of HECS-HELP for tertiary qualifications to support careers in Australian retail.

Mr Zimmerman said the ARA look forward to working with the Department to develop local retail talent through relevant tertiary studies which will in turn guide the future of Australian retail.

“As skilled retail employees are an enormous asset to the industry, the ARA will work with the Government to future proof Australian retail talent.”

To view the ARA’s full submission to the DIBP please click here.

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $310 billion sector, which employs more than 1.2 million people. The ARA 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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WASHINGTON DC —  As world leaders gather at the first UN Ocean Conference that will get underway on June 5, World Environment Day, Ocean Conservancy is releasing data from more than half a million International Coastal Cleanup volunteers who removed 18,399,900lbs of trash from beaches, coasts and waterways in 112 countries last September, in the world's largest volunteer effort on behalf of the ocean.

"We are grateful for the volunteers around the world who literally moved mountains of trash from entering our ocean," said Allison Schutes , senior manager of Ocean Conservancy's Trash Free Seas Program.

"Together, we walked over 14,490 miles of beaches, coasts and waterways  — enough to walk around the moon twice. This is no small feat and we are grateful for every person who showed up and every piece of trash they picked. It makes a difference in our efforts to stem the tide of ocean trash."

The report  released today identifies a piano among the other more unusual items found. Small, ubiquitous items like cigarette butts, plastic beverage bottles, food wrappers, plastic bottle caps and plastic straws remain the most commonly collected items — and remain among the most deadly to wildlife like seabirds, marine mammals and sea turtles.

The International Coastal Cleanup contributes to the world's most robust database on marine debris, which is built entirely on the individual action of the citizen scientists who meticulously log their finds. Last year, Ocean Conservancy debuted the Clean Swell mobile app to allow volunteers to more easily log trash that they collect.

"The International Coastal Cleanup (ICC) is perhaps the clearest expression of grassroots global action on behalf of our ocean, something Ocean Conservancy is proud to have led for over 30 years," said Janis Searles Jones ( @InVeritas_Jones ), CEO of Ocean Conservancy.

"But we recognize that cleanup efforts alone cannot tackle a crisis of this magnitude with an estimated 8 million tons of trash makes its way into our ocean every year, which is why we invite partnerships and collaborations across sectors."

The Cleanup is part of Ocean Conservancy's larger strategy for Trash Free Seas and is one of the many ways the organization is joining with others to help find answers and solutions to address existing ocean trash and eventually stop its flow into the ocean.

Ocean Conservancy also started the Trash Free Seas Alliance to coordinate across industry, government, NGOs and public interest organizations to identify ways to stop land-based trash from ever reaching the ocean.

Scientists have identified that by improving waste management and collection in the 20 countries where the mismatch between plastic consumption and mismanaged waste is greatest, we can reduce by 2025 the amount of plastic entering the ocean by more than 40 percent. 

"Ocean Conservancy is excited to see the solutions and commitments that emerge from the United Nations' Ocean Conference to tackle ocean trash," added Ms Jones. "We are ready to step up to the challenge of turning the tide on ocean trash together."

Ocean Conservancy acknowledges with thanks the support of The Coca-Cola Company for the International Coastal Cleanup over the past 19 years.

Last year, Coca-Cola activated a global employee engagement campaign to encourage participation in the Cleanup -- more than 7,000 Coca-Cola system associates volunteered along with their friends and families, cleaning more than 150,000lbs of trash.

As part of its commitment to address global climate change, Bank of America has supported the Cleanup since 2002, with thousands of employees participating in Cleanup events all around the world. Other national sponsors include National Oceanic and Atmospheric Administration, Altria Group, Inc, Brunswick Public Foundation, Cox Enterprises, The Dow Chemical Company and the Martin Foundation. 

https://oceanconservancy.org/

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