THE Joint Standing Committee on Treaties will hold the third public hearing today in Perth for its inquiry into the Agreement among the Government of Australia, the Government of the United Kingdom of Great Britain and Northern Ireland, and the Government of the United States of America for Cooperation Related to Naval Nuclear Propulsion (AUKUS agreement).

The proposed AUKUS agreement will establish a framework to enable the exchange of information and transfer of material and equipment between Australia, the United Kingdom and the United States of America to deliver nuclear-powered submarine capability to Australia.

Committee Chair, Lisa Chesters MP, said, "The committee has heard a wide range of perspectives in its first two hearings for the proposed AUKUS agreement and is looking forward to hearing from local witnesses on the potential impacts the agreement will have on Perth.

"The purpose of the agreement is to facilitate Australia’s acquisition of nuclear-powered submarines. The committee’s inquiry will continue to examine whether the provision of these submarines will provide Australia with a strategic defensive advantage and whether the agreement is ultimately in Australia’s national interests."

At the public hearing, the committee will hear evidence from Stop AUKUS WA, Nuclear Free WA and the Conservation Council of WA. Prior to the hearing, the committee will visit HMAS Stirling and HMAS Henderson to view the proposed sites where AUKUS facilities will potentially be built.

The hearing can be accessed online. The committee will hold its next public hearing in Canberra on October 24. Programs for all hearings and further information about the inquiry is available on the committee’s website.

Public hearing details

Date: Tuesday 22 October 2024
Time: 2pm to 3pm (AWST) (approximately)
Location: Anglesea 1, Mercure Perth, 10 Irwin Street, Perth

2pm - 3pm: Stop AUKUS WA, Nuclear Free WA, Conservation Council of WA

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THE House Standing Committee on Economics has released its report on the inquiry into insurers’ responses to 2022 major floods claims.

Chair of the committee, Daniel Mulino MP, said the title Flood failure to future fairness reflected “the collective failure by insurers to meet their obligations to policyholders after the 2022 floods, and our hope for a fairer system in the future through the 86 recommendations in this report".

Dr Mulino said, "Too many cases were badly mishandled. Inconsistent decision-making meant neighbours received different outcomes after the same event. Long delays caused emotional, mental health and financial strain. More than two years on, many people still can’t go home. Initial offers were often too low, which was especially problematic for cash settlements.”

Recommendations in the report include:

• registration of the General Insurance Code of Practice with ASIC; and that the code be made enforceable through insurance contracts;
• standardising key terms across all insurance contracts through legislated definitions, including “rainfall runoff”, “storm surge”, “wear and tear” and “lack of maintenance”;
• new regulatory guidance by ASIC to clarify that insurers cannot deny claims based solely on expert reports that do not link the damage observed with the reported cause, including for hydrology and building reports;
• requiring insurers to provide guidance to policyholders on any maintenance obligations up front, and that there be a presumption of coverage in cases where maintenance would be infrequent, costly and highly irregular (for example, stumps);
• requiring insurers to make a decision on whether to accept or deny a claim within 12 months, and if that doesn’t occur, that they be required to accept the claims in full;
• requiring insurers to report key data on claims management performance to ASIC quarterly and, after a natural disaster, monthly; and that this data be published at the insurer and brand level, along with data on breaches of the Code of Practice.

Dr Mulino also highlighted recommendations to address inadequate temporary accommodation arrangements.

“At present,” he said, “the maximum guaranteed length often falls short of the actual time it takes to complete the rebuild. The committee heard heartbreaking stories of families moving from motel to motel at short notice for months, only to end up camping in sheds and backyards after their allowance expired after 12 months – regardless of whether repairs on their home are complete. 

"We believe insurers should, by default, assume the risk of how long it takes to complete works, and to bear the cost of temporary accommodation.”

The report also recommends that insurers be required to give at least three months’ notice of any changes to their temporary accommodation arrangements.

Dr Mulino also noted evidence heard on policy exclusions for pre-existing damage or lack of maintenance applied to parts of a building unobservable by policyholders, such as stumps.

“Policyholders often pay premiums for decades with neither the insurer nor the insured knowing the state of the stumps,” he said.

“It is understandably frustrating when, after a flood, the floorboards are taken up and an insured person or family is told that they won’t be paid out due to the condition of the stumps. This aspect of coverage almost becomes a lottery,” Dr Mulino said.

“The committee recognises that insurers should not assume the risk of all pre-existing damage, but stumps are an example where too much risk is being placed on households. The committee recommends that insurers should generally take on this responsibility.”

The report also responds to the growing number of uninsurable properties at very high risk. Dr Mulino said “some form of government intervention” would be needed for such properties, and that guiding principles for such intervention include the need for ongoing community and household level mitigation investment, and that no further development should occur in high-risk areas. Specific recommendations include:

• disclosure of flood risk levels through property conveyancing and rental agreements;
• exploring regulatory mechanisms to discourage banks from financing new housing developments at a 1-in-100 flood risk or higher;
• changes to building codes to boost flood resilience;
• extending the Bushfire Resilience Rating App to flood risk;
• requiring insurers to reduce premiums after household-level mitigation works;
• further development of buyback and resilience programs for the highest-risk properties.

Further information on the inquiry as well as a copy of the report can be obtained from the inquiry website.

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THE Joint Standing Committee on Treaties will hold its second public hearing today in Adelaide for its inquiry into the Agreement among the Government of Australia, the Government of the United Kingdom of Great Britain and Northern Ireland, and the Government of the United States of America for Cooperation Related to Naval Nuclear Propulsion (AUKUS agreement).

The framework established under the AUKUS agreement will enable the exchange of information and the transfer of material and equipment between Australia, the United Kingdom and the United States of America to deliver nuclear-powered submarine capability to Australia.

Committee Chair, Lisa Chesters MP, said, "The AUKUS agreement is intended to provide Australia with access to critical naval propulsion information, facilitating Australia’s acquisition of nuclear-powered submarines. The committee’s inquiry is continuing to examine whether the trilateral agreement will provide Australia with a strategic advantage and access to submarines that will enhance our existing fleet. 

"The committee looks forward to hearing from witnesses in Adelaide about local benefits and potential challenges presented by the AUKUS agreement. The committee will also speak with representatives from ASC, who will sustain and jointly build Australia's SSN-AUKUS submarines. ASC has extensive experience sustaining Australia's Collins-Class submarines and the Committee is interested to learn more about the future of Australia's domestic submarine industry under the AUKUS agreement.’

The hearing can be accessed online and the program is available on the Committee website, along with further information about the inquiry.  

The committee will travel to Perth on October 22 for tours of HMAS Stirling and HMAS Henderson and a public hearing and will hold a further public hearing in Canberra on October 24. Further information about the inquiry is available on the committee’s website.

Public hearing details

Date: Friday 18 October 2024
Time: 9.30am to 11am (approximately) (ACDT) 
Location: Vault 2, Adina Apartment Hotel Adelaide Treasury, 2 Flinders Street, Adelaide

9.30am-10am: Friends of the Earth Adelaide and Caring for South Australia
10.00am-11am: ASC (Australian Submarine Corporation)

More information about the Committee and its inquiry can be found on the Committee’s website.

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

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THE festival director of Byron Bay’s BluesFest will today appear before the House of Representatives Standing Committee on Communications and the Arts as it continues its public hearings for its inquiry into the Australian live music industry.

The hearing will host a roundtable with ongoing festivals ranging from small community events to large self-sustaining multi-day festivals. The committee will also speak with Century, a long-established venue and event management business serving clients in Sydney metro and Newcastle areas.

Paul Mason, a live music industry consultant who has a range of experience in the Australian music sector — both in artist project management, business planning and production, will also front the committee.

The committee will receive an update from Victorian not-for-profit youth music advocacy organisation, The Push, which supports young Victorians to participate in contemporary Australian music. The Push will appear alongside the Australia Institute to discuss the release of its most recent research report into young Australian music audiences.

The hearing will conclude with a youth music and all-ages-event roundtable.

Committee Chair, Brian Mitchell MP, said, "The committee looks forward to delving into the issues that have impacted iconic Australian festivals such as BluesFest."

Details of the public hearings are below, with the full programs and terms of reference available on the inquiry webpage. More information about the committee, including membership, may be found on the Committee’s website.

Public hearing details

Date: Thursday, 17 October 2024
Time: 9:40am – 3pm AEDT
Location: Australian Parliament House, Committee Room 2R1

This hearing will be broadcast live @AUSParliamentLive.

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A NEW Federal Parliamentary Committee has been established to inquire into and report on the consideration of nuclear power generation in Australia.

The House Select Committee on Nuclear Energy is seeking submissions by Friday, November 15.

Committee Chair, Dan Repacholi MP, the Federal Member for Hunter, said, "With the ongoing debate over whether nuclear energy has a role in Australia’s future energy mix, as well as the mounting cost of living pressures being felt by Australians, this inquiry comes at a critical time.

“Australians have a multitude of questions concerning the Opposition’s proposed nuclear energy idea," he said. “This Committee will be looking to answer some of these questions as it gives proper consideration to Australia’s future energy needs.”

Mr Repacholi explained the committee intended to hear from communities across Australia that would be impacted by the Opposition’s nuclear energy plan. The committee will also call on a broad range of experts to explore the financial, environmental, technical, and legal implications of developing nuclear energy in Australia, among other issues.

Further information, including the inquiry terms of reference are available on the committee’s website.

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THE Joint Standing Committee on Treaties will hold its first public hearing for its inquiry into the Agreement among the Government of Australia, the Government of the United Kingdom of Great Britain and Northern Ireland, and the Government of the United States of America for Cooperation Related to Naval Nuclear Propulsion (AUKUS agreement).

The AUKUS agreement establishes a legally binding framework to facilitate the communication and exchange of naval nuclear propulsion information between Australia, the United Kingdom, and the United States of America. The agreement will also permit the transfer of nuclear material and equipment from the UK and the US to Australia for conventionally armed, nuclear-powered submarines.

Committee Chair, Lisa Chesters MP, said, "The committee will examine if AUKUS will provide Australia with a strategic advantage in terms of surveillance and protecting our shores and if the AUKUS agreement will facilitate the acquisition of submarines that are stealthier, speedier and sturdier than our existing fleet.

"The committee will explore if the agreement emphasises Australia’s commitment to the non-proliferation of nuclear weapons and reinforces the role of the International Atomic Energy Agency."

The first public hearing will be held in Canberra, with the Committee scheduled to hear evidence from the Australian Nuclear Association, Professor Donald Rothwell, The Australia Institute and the Australian Conservation Foundation.

The committee will travel to Adelaide on October 18 to hold a public hearing and visit the Osbourne Naval Shipyard for a tour and briefing from Australian Naval Infrastructure. The committee will then travel to Perth on October 22 for tours of HMAS Stirling and HMAS Henderson and a public hearing.

The hearings can be accessed online and the programs are available on the Committee website, along with further information about the inquiry. 

Public hearing details

Date: Wednesday 16 October 2024
Time: 2pm to 5pm
Location: Committee Room 1R4, Parliament House, Canberra

2.pm–2.45pm: Australian Nuclear Association
2.45pm–3.30pm: Professor Donald Rothwell
3.30pm–4.15pm: The Australia Institute
4.15pm–5pm: Australian Conservation Foundation

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AS PART of its inquiry into the transition to electric vehicles (EVs) the House of Representatives Standing Committee on Climate Change, Energy, Environment and Water will travel to Adelaide to hear from representatives from SA Power Networks, government departments, academics and Mitsubishi Motors about Australia’s transition to electric vehicles.

The committee will hold a half day of public hearings before attending a site visit to the Motor Trades Association (MTA). MTA Training and Employment is a leader in automotive and electrical vehicle training, training over 1,000 apprentices, as well as skilled technicians and workers in automotive, mining and emergency services sectors.

Committee Chair, Tony Zappia MP, said, "The committee looks forward to hearing from representatives from SA Power Networks about the current and future demands on the South Australian electricity grid with the increasing uptake of electric vehicles.

"SA Power Networks will discuss how it is managing the latest technology of vehicle-to-grid EV charging, which allows EVs to feed electricity back into the grid when demand is high.

"Mitsubishi Motors Australia will discuss its current market demand for hybrids and EVs and the committee will examine potential challenges for supplying electric vehicles to Australia’s right-hand driving market now and into the future.

"The site visit to the Motor Trade Association will give the committee an important overview about the training and employment sector for electric vehicles. This is a new sector within Australia with a growing demand for people to be skilled up and trained to understand and service electric vehicles throughout Australia."

The program for the public hearings can be found here.

Further information about the inquiry is available on the committee’s website.

Public hearing details

Date: 17 October 2024
Time: 9am – 12pm
Location: Adina Apartment Hotel, Adelaide Treasury, 2 Flinders Street Adelaide.

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THE Federal Government has expanded the Code of Professional Conduct (Code) for tax practitioners, to strengthen integrity and accountability in the tax profession.

To support implementation, the Tax Practitioners Board (TPB) is engaging with stakeholders, including tax practitioners, professional associations and community representatives, to develop practical guidance. TPB guidance will issue in late October, for broad public consultation, with the aim to finalise guidance in December 2024.

The Tax Agent Services (Code of Professional Conduct) Determination 2024 (Determination) was revised on October 8, 2024, with effect from July 1, 2025 for most tax practitioners. Larger firms, with 100 or more employees, will need to comply by January 1, 2025.

The Federal Government and the Treasury consulted with professional associations and other stakeholders to clarify the scope of the expanded Code. This process assisted in refining how tax practitioners address integrity (false or misleading statements) and transparency (how they keep clients informed).

TPB chair Peter de Cure said, "These changes to the Determination provide additional certainty to tax practitioners on the intent and scope of the new Code obligations. This includes setting out the specific matters tax practitioners need to inform their clients about, which does not include information relating to the tax practitioner’s health or their personal beliefs."

Following a stakeholder roundtable today, Mr de Cure thanked participants for their ongoing contribution and co-design.

"These new Code obligations build on the principles in the existing law. Most tax practitioners, acting professionally and ethically, will readily comply with the new Code requirements," he said. "The TPB’s guidance will help tax professionals improve their services to clients and systems to comply with the law.

"We are committed to supporting tax practitioners through this process of change. Our draft guidance will also be strengthened by a series of webinars to further assist tax practitioners understand the draft guidance, ask questions and provide feedback that will shape the final products," Mr de Cure said.

"For all tax practitioners trying to do the right thing, we will continue to take a pragmatic and practical approach in addressing compliance with the additional obligations. Our approach is to achieve voluntary compliance through education and support. Any TPB investigation will be targeted at higher risk behaviours and misconduct."

About the Tax Practitioners Board

The TPB 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. Find further information on X.com, LinkedIn and Facebook.

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