THE IPA-Deakin University SME Research Centre has been officially launched at a special event in Melbourne today. 

The Centre is an expansion of the Institute of Public Accountants (IPA) and Deakin University SME Research Partnership that published the first-ever Australian Small Business White Paper in 2015.  The dedicated SME Research Centre is located within the Deakin Business School and is set to drive the development of small business globally. 

Giving the keynote address at today’s event, the former Federal Minister for Small Business and inaugural Chair of the Research Centre’s Advisory Board, Bruce Billson congratulated the IPA and Deakin University for the collaboration and commitment being made to the small business/SME sectors.

“This is such an exciting initiative and genuinely shows that the critical role played by small business in a modern and emerging economy is being taken seriously,” said Mr Billson.\

“I am delighted to play a role in this endeavour, having accepted the opportunity to chair the Centre’s Advisory Board.  Together, we will drive great results for the advancement of small businesses and SMEs."

IPA chief executive officer, Prof Andrew Conway said: “Through the IPA Deakin SME Research Centre, we want to ensure there is a rigorous evidential base as the foundation of future policy that will drive ongoing discourse and provide a credible voice for small businesses and SMEs globally.

“The Centre’s work will deliver applied research in relation to SMEs with expanded reference to the growth of SMEs and their respective trade links globally.  Already the Centre is actively engaged with academics in the UK to focus on that market.

"This will be important in light of the impact of Brexit on the economy and business in general and particularly in considering trade and investment while the free trade agreement (FTA) negotiations between the UK, Australia and the EU are ongoing,” said Prof. Conway.

Professor Mike Ewing, Executive Dean of the Deakin University Business School said the partnership with the IPA was pivotal to delivering genuine outcomes for the SME sector.

“We have already achieved great outcomes, including the Australian Small Business White Paper, however, ongoing momentum is required to drive successful policy that would enhance the productivity of small businesses and SMEs,” said Prof Ewing.

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, the largest SME focused accountancy organisation in the world, with more than with more than 35,000 members and students in over 65 countries.  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.  The IPA was recognised in 2012 as Australia’s most innovative accounting organisation and listed in the top 20 in the 2012 BRW Most Innovative Companies List.

About the IPA Deakin SME Research Centre

The IPA-Deakin SME Research Centre conducts multidisciplinary research on small and medium sized enterprises (SMEs) and not-for-profit enterprises (NFPs). Focusing on bringing together practitioner insights with world-class research, we provide informed comment for substantive policy development.

In June 2013, Deakin University partnered with the Institute of Public Accountants (IPA) to form the IPA-Deakin SME Research Partnership, a first in Australia, located within the Faculty of Business and Law. The Centre aims to expand our existing portfolio of research and consultancy for SMEs and NFPs. 

The Centre is affiliated with leading international SME researchers and research centres, such as Professor Robert Blackburn and the Small Business Research Centre at Kingston University (UK), Professor Marc Cowling (University of Brighton, UK) and Emeritus Professor Gordon Murray (University of Exeter, UK).

The Centre aims to contribute to policy development in Australia, UK and other countries in areas of relevance to accountants, the accounting and finance profession and in the public interest.  Since 2013, this has included, financial services and financial markets, innovation policy, competition policy, regulation, macro and micro economic issues, trade and investment policy, taxation, retirement incomes policy, sustainability and governance.

In 2015, the Partnership released the landmark Small Business White Paper which has been well received and has influenced the policy platform in Australia. The Research Centre will be working on the next evolution of the White Paper; and other issues of importance in an increasingly connected world. 

The Centre is managed through the Deakin Business School and is co-directed by Professors Barry Cooper, George Tanewski, Andrew Conway and Associate Professor Julie Clarke.

The Advisory Board comprises:

Bruce Billson (Chair), Former Federal Minister for Small Business;

Su McCluskey, Chairman, Energy Renaissance;

Tim Reid, Founder & Host, The Small Business Big Marketing Show;

Dr Michael Schaper, Deputy Chair, Australian Competition and Consumer Commission;

Bernadette Uzelac, CEO, Geelong Chamber of Commerce;

Prof Robert Blackburn, Associate Dean Research, Director of The Small Business Research Centre

Kingston University, UK;

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THE Institute of Public Accountants (IPA) has commended the Economics Legislation Committee for giving the green light to the Enterprise Tax Plan which will ease the tax burden for thousands of small businesses around Australia.

“The Senate committee agreed with IPA’s position that extending tax benefits to entities is warranted and likely to result in economic benefits that over time will pay for itself,” said IPA chief executive officer, Andrew Conway.

“The fact that the Senate committee has recommended to the Government that it should proceed with the Enterprise Tax Plan Bill is a positive sign for business and economic growth.

“This will provide relief for many small businesses, improve their cash flow, enhance capacity to reinvest in their business and increase employment opportunity.  The Australian economy is the winner.

“Despite Labor’s opposition, we support the Government proceeding with the Bill and continue pragmatic negotiations to ensure it passes.  If this means deferring tax cuts for larger entities to gain the Opposition’s support for tax cuts for smaller entities up to $10 million, it should be considered,” said Mr Conway.

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THE Joint Standing Committee on Treaties has today recommended that Australia ratify the Paris Agreement.

Committee Chair, Stuart Robert MP, says that the Agreement has received overwhelming support both internationally and here in Australia.

"The Paris Agreement has been welcomed as a positive step forward on an issue that is of global concern," Mr Robert said.

“Although Australia faces challenges as we transition to a low-carbon economy, there are also many opportunities. We have expertise in responding to extreme weather events which will be in demand worldwide. We also have a rich supply of the mineral resources needed for the manufacture and development of renewable technology. And, of course, we have abundant renewable power resources with our sun, wind and hydro power.”   

The Paris Agreement was adopted on 12 December 2015 by 192 countries. It opened for signatures in New York on 22 April 2016, and received the required signatures from 55 countries covering 55 percent of the world’s greenhouse gas emissions on 5 October 2016. The agreement came into force on 4 November 2016.

The aim of the Paris Agreement is to hold the increase in global average temperature to well below 2°C and to attempt to limit the increase to 1.5°C. Australia’s commitment is to reduce emissions by 26 to 28 percent below 2005 levels of greenhouse emissions by 2030.

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THE Maritime Union of Australia today applauded vibrant industrial relations for helping to deliver the best productivity figures Australian ports have ever seen.

The latest Australian Competition and Consumer Commission’s Container Stevedoring and Monitoring Report found stevedoring prices are at their lowest level since monitoring began in the late 1990s, according to the MUA.

In 2015-16 wharf labour productivity reached a record level, while capital productivity was at close to record levels.

ACCC chairman Rod Sims was reported as saying the latest results reflected increased competition and more infrastructure investment but MUA National Secretary Paddy Crumlin said the report neglected to mention the critical role trade unions play in productivity on the waterfront.

“It is disappointing that the ACCC hasn’t identified the contribution of stevedoring labour and functional industrial relations on the waterfront in driving these strong results,” Mr Crumlin said.

“The report found labour productivity was at its lowest in Brisbane, where all three container terminals are automated. The highest achiever, Melbourne, has no automated terminals.

“The ACCC seems to have forgotten the MUA, so we’re happy to take credit for our part in functional industrial relations, notwithstanding the misguided rhetoric from some in the Federal Government and their ideological cheer squad.”

Mr Crumlin singled out "the Australian Mines and Metals Association (AMMA) and Abbott/Turnbull Government zealots such as Eric Abetz and Michaelia Cash".

“This report sends a message to employers who take too much of a cue from the ideological hardheads at AMMA and ideological zealots in the Turnbull Government who deliberately spread misinformation about unions for their own selfish political reasons,” Mr Crumlin said.

“AMMA has consistently led a dysfunctional approach of employers in the offshore oil and gas sector, while others like BHP Billiton are trying to run so-called partnership agreements rather than engage in a genuine dialogue with their workforce.

“Coastal shipping is an area where reform is needed to ensure we have a vibrant maritime cluster in the future that provides jobs and skills for our next generation of seafarers, officers and captains.

“We look forward to continuing to work with the reasonable members of the Government to find a way forward – not just in shipping but also stevedoring through better safety in a new National Stevedoring Code of Practice.”

THE climbing cost of fossil fuels and other pressures will increasingly encourage miners to rely more heavily on renewables for their energy-hungry operations, the inaugural Future Energy and Finance conference heard today.

Speaking as part the precursor to the International Mining and Resources Conference (IMARC), Sunshine For Mines Operations Lead Alastaire Dick said the time was right for renewables to contribute a greater amount to mines’ energy needs.

“The change nexus is here.  With climate change, public policies, carbon pricing and other pressures on the mining industry, miners need to think differently,” he said.

“For the average mine, 22 percent of the operational spend is spent on energy.  Think about what shaving one or two per cent off that energy cost would do to your bottom line.”

While miners could be “a slow moving bunch” when it came to adopting change, Mr Dick said the shift to renewable energy was well underway and showed no signs of slowing.

“We’ve got to help overcome the cultural barriers and mindsets.  We’ve got to think about future generations and be that legacy today,” he said.

Apart from reducing energy costs, Mr Dick said the industry also had the opportunity to deliver shared value and reinforce their social licence to operate by embracing renewables.

Other speakers today explored the future of global energy and the implications for financing and investing in energy, along with new technology to increase generation, efficiency and storage.

More than 2,500 mining leaders, policy makers, financiers and other experts from more than 57 countries have converged in Melbourne for IMARC, Australia’s largest international mining and resources event.

IMARC runs until Thursday 10 November 2016 and will cover all aspects of mining, from exploration, investment and production through to optimisation, technology, health and safety, policy and governance.  Decision makers from over 150 mining companies will be in attendance to learn from more than 160 international experts.

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THE Australian Competition and Consumer Commission will not oppose Tabcorp Holdings Limited’s (ASX:TAH) proposed acquisition of Intecq Limited (ASX:ITQ).

THE Parliament’s Treaties Committee will hear from Government witnesses at the final hearing into the Trans Pacific Partnership (TPP) on Monday Morning in Canberra.

Committee Chair, Stuart Robert MP, says the Committee will hear the Government’s response to the range of issues raised during the inquiry.

“While there is broad support for the genuine benefits the TPP will bring, participants in the inquiry have criticised aspects of the Agreement.”

“Contentious issues include the Investor State Dispute Settlement mechanism, aspects of Australian intellectual property law, the temporary entry provisions for professionals, and the transparency of the negotiation process.”

“Government witnesses are expected to address these and other issues during the hearing.”

The Committee’s report on the TPP will be tabled before the end of the year.

During the hearing, the Committee will also be taking evidence on the Partial Revision of the 2012 Radio Regulations.

Mr Robert says people interested in the Committee’s inquiries can visit the Treaties Committee’s website for further information.

Public Hearing: Monday 7 November 2016, Committee Room 2R1, Parliament House, Canberra

8:10am: Radio Regulations - Partial Revision
Department of Communications and the Arts
Australian Communications and Media Authority

8:30am: Trans Pacific Partnership Agreement
Department of Foreign Affairs and Trade
IP Australia
Department of Health
Department of Immigration and Border Protection
Department of Agriculture and Water Resources
Attorney-General’s Department
Department of Communications
Department of Employment
Department of Finance
Department of Industry, Innovation and Science
The Treasury

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

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IN ITS SUBMISSION to Treasury on the second and third tranches of the superannuation reform package, the Institute of Public Accountants (IPA) has urged the Government not to reduce the cap on concessional superannuation contributions.

“The IPA does not support the reduction of the contributions cap to $25,000 and more so, we do not agree to the reduction of the current cap of $35,000 for individuals aged over 50 years of age,” said IPA chief executive officer, Andrew Conway.

“In fact, people aged over 50 should be encouraged to make further superannuation contributions if they have the capacity, to address any superannuation balance shortfall.

“The situation has been further exacerbated by the Government’s announcement to defer the proposed ‘catch up’ measure until 1 July 2018.  This effectively means the first ‘catch up’ will not take place until the 2019/20 financial year.\

“The deferral was a budgetary decision to partially offset the cost of re-introducing an annual non-concessional contributions cap.

“The current annual concessional contributions cap of $35,000 for over-50s is less than a third of what the cap was 10 years ago.

“The 2010 Henry Tax Review supported a higher contributions cap for Australians aged 50 and over and we support that position.

“Reducing the cap is adverse to Australians building a self-reliant retirement,” said Mr Conway.

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