AUSTRALIA'S bilateral defence relationship with Japan will be the subject of a public hearing today by the Joint Standing Committee on Treaties.

The Committee is reviewing a proposed agreement for the reciprocal provision of supplies and services between the Australian Defence Force and the Self-Defense Forces of Japan. The Committee will hear evidence from the Department of Defence as the lead agency for the agreement.

Committee Chair Stuart Robert MP explained that the proposed agreement expands the terms of a similar agreement signed in 2010, reflecting changes in Japan’s domestic laws and its more active role in global peace and security.

“Australia’s relationship with Japan is more important than ever as increasing tensions in the Asia‑Pacific risk regional and global security. The Committee will examine the revised terms of this agreement to ensure that it sufficiently enables increasing cooperation between the Australian Defence Force and Self‑Defence Forces of Japan in the face of regional instability”, Mr Robert said.

The Committee will table its report on the proposed Agreement in the Parliament by 9 August 2017.

Public hearing details: 11:10am - 12:15pm, Monday 22 May, Committee Room 1R1, Parliament House, Canberra

11:10am: Defence Supplies and Services - Japan; Department of Defence
12:15am: Close

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

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

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THE Australian Institute of Management has launched the 28^th year of its highly regarded AIM Leadership Excellence Awards (ALEAs).

Nominations and applications for 2017 are now open until 17:00 on 21^st July to recognise the extraordinary work of leaders across the nation.

Last year, AIM reported a 46 percent increase in nominations ahead of 2015, with over 1,000 exceptional leaders nominated for an award nationwide. The 2017 ALEAs are expected to be the biggest and most competitive yet, as outstanding Australian leaders are provided an opportunity to highlight their contribution to a community or workplace.

The prestigious awards acknowledge leaders across the following categories:

AIM’s Chief Executive, David Pich was thrilled that the awards provided a platform to celebrate not only management and leadership excellence, but a genuine contribution to local communities and the nation as a whole.

“The ALEAs provide the recognition for hard work that leaders across the nation have contributed. AIM is committed to helping professionals develop into becoming great leaders, and the ALEAs give us an opportunity to highlight those efforts,” Pich said.

2016 Emerging Leader of the Year, Sports Consultant Paul Mead, highlighted the positive impact of the award on his career progression and business.

“The process from nomination through to the National Final was an amazing experience. It provided me time to reflect on what I had achieved in my business and leadership journey, from my own strengths and weaknesses to highlighting my business’ unique value proposition,” Mead said.

“The award confirmed what my value as a leader is, why I do what I do, how I do it and what I achieve. It has provided further credibility to my personal brand as a leader in my industry and given me an extended network to enable further success,” he continued.

Nominations are now open to recognise a friend or colleague, who has gone above and beyond in their leadership, in a bid for the rest of the country to get behind them too.

To nominate an inspirational leader or manager, visit:

aim.com.au/ALEAs2017

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By McAfee's  Gary Davis >>

THE Institute of Public Accountants (IPA) has welcomed the Government’s decision to extend the $20,000 instant asset write-off for small businesses for the next 12 months. 

The definition of small business has gone from a turnover of $2 million to $10 million effective from 1 July 2016 so these entities will also benefit from the initiative.

“The IPA has long advocated for the write-off initiative and we are relieved that common sense has prevailed to extend the time period,” said IPA chief executive officer, Andrew Conway.

“If the decision had been to revert the limit to $1,000, it would have been a huge disincentive for many small businesses.

“The increase in the accelerated depreciation write-off threshold to $20,000 has been of great assistance to small business cash flow.

“This initiative is bringing forward the tax deduction that would have been deductible over a number of years.

“The reversion to $1,000 would have had a negative impact on the broader economy as the incentive for small businesses to reinvest in their future would be taken away; restricting potential growth, employment and prosperity.

“A higher instant asset write-off should be a permanent feature of our tax system going forward.  The Henry Review into Australia’s tax system recommended that a higher threshold should apply.

“Small businesses Australia-wide should be very pleased with this outcome; it brings an injection of economic growth, giving small businesses the confidence to buy new equipment, reinvest in their operations and grow,” said Mr Conway.

publicaccountants.org.au

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THE Australian Retailers Association (ARA) said retailers across Australia are preparing for large crowds this weekend as shoppers enter their doors in search for the perfect Mother’s Day gift.

Russell Zimmerman, Executive Director of the ARA said Mother’s Day is one of the biggest trading events of the year, with Australians spending close to $2 billion dollars on this special occasion in 2016.

In light of the mediocre retail trade figures for March, ARA is hoping the boost in consumer confidence following the Federal Budget announcement will lead to increased spending on gifts and experiences this Mother’s Day.

“For many Australians, Mother’s Day is a day to celebrate the special women in their lives, whether that be their own mother, grandmother or the mother of their children,” Mr Zimmerman said.

“Mother’s Day is a gift giving celebration as many shoppers enjoy spoiling their mums on this day with flowers, jewellery and a lavish night out.”

With many Australians feeling especially generous in the lead up to Mother’s Day, the ARA believe specific retail categories will receive a significant boost in sales this weekend.

“Florists, fashion retailers, jewellery stores, confectionary merchants, restaurants, cafés, online gifts and experience retailers will receive the most engagement this weekend,” Mr Zimmerman said.

“In fact, restaurants and cafés are often booked out well in advance for Mother’s Day as we continue to see consumer experience gain more traction during these family focused celebrations.”

With a significant increase in customers choosing to buy experiences over tangible products, ARA expects to see the continuation of the customer behavior trend over the Mother’s Day trading period.

“As consumer values continue to evolve, we will see shoppers increasingly opt for non-traditional gifts and packages to spoil their mums this Mother’s Day.” Mr Zimmerman said.

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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RACING QUEENSLAND (RQ) and Sky Racing have announced a trial of live digital coverage of every Group 1 race day of the Brisbane Racing Carnival in a major showcase of racing in Queensland.

The deal means that full coverage of each Saturday Carnival race day (13 May to 10 June) will be produced and streamed live and free on Racing Queensland’s website and UBET’s digital platforms. The Sky Racing Tatts Tiara meeting on 24 June is also part of the digital coverage.

RQ CEO Dr Eliot Forbes said the coverage provides added accessibility of the Queensland racing product and allows people from around Australia to view a premium production of the race meetings from anywhere on a mobile device.

“This is a significant development for racing in Queensland. Viewers have been able to watch the races live on television but this coverage will be high-quality, with dedicated television presenters and content aimed at informing and entertaining the viewer.”

Tabcorp General Manager of Media, Brad Higgins, said the decision to trial extended digital coverage was in recognition of the importance of the Brisbane’s Racing Carnival.  It enables Sky to distribute more extensive showcasing of the Brisbane Racing Carnival on digital platforms in line with other jurisdictions.

“Sky Racing will produce top quality content specifically for Brisbane’s premier race days. This is in line with our intention to continue to innovate and enhance our coverage.”

Included in the daily coverage will be:

•           Post-race interviews with trainers and jockeys

•           Replays and analysis

•           Presentation and speeches

•           Colour interviews from out and about on the track

•           Full mounting yard coverage

•           Race caller cam in the box for his tips and assessment of the race

•           Tips and late mail from experts and market updates

•           Pick of the yard

•           Behind the barrier interviews

The content will be available free and online on the Racing Queensland website: www.racingqueensland.com.au as well as the digital platforms of UBET.

Full coverage of the Brisbane Winter Carnival can also be seen on Sky1 and Sky Thoroughbred Central. 

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THE Trade Sub-Committee of the Parliament’s Joint Standing Committee on Foreign Affairs, Defence and Trade (JSCFADT) will hear from the Export Council of Australia tomorrow at a public hearing for its inquiry into Australia’s trade and investment relationship with the United Kingdom.

The Export Council of Australia (ECA), which is the peak industry body for Australia’s exporters and importers, believes the decision by the UK to Brexit from the European Union will create both opportunities and challenges for Australia’s trade.

The ECA expects after the Brexit, the trade in consumer goods and services between Australia and the UK will be likely to grow.

The ECA’s submission to the inquiry states it is in the best interests of both Australia and the UK to conclude a high quality free trade agreement as soon as possible after the UK formally leaves the EU.

The ECA recognised that negotiations may not realistically proceed as quickly as envisioned due to the UK having more pressing priorities for trade negotiations, particularly with the EU, since its trading relationship with the EU is critically important to the UK economy.

The strong trade in billions of dollars in services between Australia and the UK, according to the ECA, will require improved market access in a range of services exports.

The ECA is calling for the lessening of restrictions on the numbers of wholesale banking licenses available to Australian banks, greater recognition of Australian law degrees in the UK and also an easing of residency requirements for Australian professionals, such as architects, engineers and accountants.

‘We welcome this opportunity to discuss with the Export Council of Australia its many and varied ideas on how Australia can grow its trade and investment relationship with the UK, especially in the export of a range of services,’ the Chair of the Trade Sub-Committee, Senator Bridget McKenzie said.

Public hearing details: 10:05am - 11:00am, Wednesday 10 May, Committee Room 2S1, Parliament House, Canberra

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

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THE Australian Retailers Association (ARA) said March’s modest retail trade growth of 2.15 percent year-on-year, released today by the Australian Bureau of Statistics (ABS), reflects the Government’s need to deliver on economic growth in tonight’s Federal Budget.

In lieu of February’s lacklustre trade figures, ARA Executive Director Russell Zimmerman said the disappointing statistics for March are a symptom of escalating operating costs and systemic economic pressures faced by Australia’s retail industry.

“The generally weak trade figures across the board appear to be caused by myriad of factors including low consumer confidence, political uncertainty, international competition and the effects of housing affordability on hip-pockets.

“These broader economic issues, combined with a number of challenges within the retail operating environment, are serving to stagnate rather than stimulate growth in the sector.” Mr Zimmerman said.

The prolonged warm weather during March also had an effect on specific retail categories, with the Clothing Retailing category experiencing a negative growth of -1.62 percent year-on-year as shoppers restrained from filling their wardrobes for the cooler months ahead.

Cafes, Restaurant & Takeaway Food Retailing (4.81%) also showed a decline in year-on-year trade growth, an outcome of reduced consumer confidence resulting in a hesitation to spend on non-essential items or experiences.

In regard to state-based figures, New South Wales (3.07%), Victoria (2.84%), Australian Capital Territory (3.09%) and South Australia (3.33%) showed relatively stable, albeit modest, year-on-year growth.

On the other hand, there is an apparent slowdown in year-on-year retail growth across Queensland (0.86%), Western Australia (0.20%), Tasmania (1.71%) and Northern Territory (-1.00%).

“Although the backwards growth trends across many states and categories is concerning, we remain positive in the potential economic relief for retailers through the Government’s Federal Budget later on tonight,” Mr Zimmerman said.

“As a critical part of the national economy, and the largest private sector for employment within Australia, we are hopeful of a practical package to preserve the viability of the retail industry.

“Retailers are looking to tax reforms, infrastructure investment and additional skills funding to stimulate the growth that the sector vitally needs.” Mr Zimmerman said.

MONTHLY RETAIL GROWTH (February 2017– March 2017 seasonally adjusted)

Food retailing (-0.5%), Household goods retailing (-0.1%), Clothing, footwear and personal accessory retailing (0.4%), Department stores (-0.6%), Other retailing (1.1%) and Cafes, restaurants and takeaway food services (-0.5%).

New South Wales (0.1%), Victoria (0.4%), Queensland (-1.3%), South Australia (-0.1%), Western Australia (0.1%), Tasmania (-0.2%), Northern Territory (-1.8%) and Australian Capital Territory (0.3%).

Total sales (-0.1%). 

YEAR-ON-YEAR RETAIL GROWTH (March 2016 – March 2017 seasonally adjusted)

New South Wales (3.07%), Victoria (2.84%), Queensland (0.86%), South Australia (3.33%), Western Australia (0.20%), Tasmania (1.71%), Northern Territory (-1.00%) and Australian Capital Territory (3.09%).

Food retailing (2.62%), Household goods retailing (0.56%), Clothing, footwear and personal accessory retailing (0.56%), Department stores (-2.77%), Other retailing (3.26%) and Cafes, restaurants and takeaway food services (4.81). 

Total sales (2.15%).   

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