Wednesday, 20 February 2019 Sydney

Invest In Australia News::

  • ACCC releases second self-assessment against the regulator performance framework

    The ACCC has released its second self‑assessment report, which measures the agency against the Australian Government’s Regulator Performance Framework(link is external) across 2016-17.

    The framework requires Commonwealth regulators to assess their own performance against six key performance indicators(link is external). The framework and indicators focus on a regulator’s actions in relation to the businesses that are subject to its regulatory processes.

  • Anchor furniture to stop deaths and injuries

    The ACCC is co-leading an international safety campaign urging parents and carers to anchor unstable furniture and large TVs to the wall to prevent infant deaths and serious injuries.

    The consumer watchdog is joining the Organisation for Economic Cooperation and Development (OECD) and 18 other regulators from around the world in alerting consumers to the dangers of unstable furniture and large TVs.

    Suppliers are also being urged to take immediate steps to improve the stability of these products and supply anchors at the point of sale.

  • Fighting for Tasmania’s fair share of GST

    The Hodgman Government will always fight for Tasmania’s fair share of the GST.

    The Productivity Commission’s review into the method for distributing GST among the states and territories is an opportunity for Tasmania to once again unite and clearly say that as a community we simply won’t stand for it.

    That’s why I have invited the Productivity Commission to hold a public hearing in Tasmania as part of its review.  I want the opportunity to once again explain to the Productivity Commission face to face, that we will fight tooth and nail for every single cent of GST that we are entitled to.

  • Petrol price apps can save millions for motorists

    The ACCC’s September quarterly report on the Australian petroleum industry reveals how much money motorists can save by avoiding buying petrol at the peak of the price cycle.

    ACCC analysis has found if motorists in Sydney had simply avoided buying E10 on the six days around the price cycle peaks in the previous six months, they would have paid on average around 2.6 cents per litre (cpl) less.

    Assuming similar savings for the other types of petrol (i.e. regular unleaded petrol (RULP) and premium unleaded petrol), the estimated overall savings for Sydney motorists over a year would be in the region of $85 million.

  • ATO statement regarding the ‘Paradise Papers’

    The International Consortium of Investigative Journalists (ICIJ) is today reporting about information they have in relation to offshore law firm Appleby.

    The ATO has been working closely for several months with our partner agencies here and overseas in anticipation of a data release by the ICIJ. These relationships have enabled the ATO to commence analysis of the intelligence received to identify possible Australian links.

  • Australian Unity to compensate some members over dental benefits

    Following an ACCC investigation, Australian Unity has agreed to pay compensation to members who held couple and family policies in 2015 that were likely to have been misled about the dental benefits they could claim from their policy. It is expected that Australian Unity will pay at least $620,000 in compensation to affected consumers. 

    At the start of 2015, Australian Unity’s Comprehensive Extras policy for couples and families included one overall limit for dental benefits, which was between $1,600 and $2,400 per calendar year. The insurer’s fact sheets, website and terms and conditions in 2015 represented to members that these benefits were fixed and would not change for that year.

  • AirAsia to refund Passenger Movement Charge for affected travellers

    AirAsia will offer refunds to affected customers after incorrectly levying the Passenger Movement Charge (PMC) to children under 12 years old on certain flights from Darwin to Bali between December 2010 and September 2017.

    The ACCC raised concerns with AirAsia following media reports in September. Children under the age of 12 are exempt from the PMC under the Passenger Movement Charge Collection Act 1978.

    “Some AirAsia customers have been incorrectly charged for a levy of up to $60 that did not apply. Affected customers should contact AirAsia to obtain a refund for that charge,” ACCC Deputy Chair Dr Michael Schaper said.

  • Business bank model urged for consideration

    The Australian Small Business and Family Enterprise Ombudsman has called for an Australian version of the British Business Bank to be considered.

    Speaking at the Franchise Accountants Network conference in Sydney, Ombudsman Kate Carnell said access to finance was a major challenge for Australian small-medium enterprises.

    “Banks are happy to lend to small businesses, but only if they have security such as property or cash,” Ms Carnell said.

  • Study to identify future ferry sites and infrastructure need for Darwin

    The Northern Territory Government is investigating the potential for future ferry services in and around Darwin Harbour to cater for future growth within the next 50 years.

    The Department of Infrastructure, Planning and Logistics has engaged maritime infrastructure specialists Mott MacDonald to assess several locations to see if they are suitable for future ferry services and identify the infrastructure needed to expand ferry services in Darwin.

    The analysis will also look at trigger points for future demand for ferry transport over a 50-year period.

  • ACCC decides interim authorisation not needed for Port of Brisbane and Carnival

    The ACCC has decided not to grant interim authorisation to the Port of Brisbane and the cruise ship operator Carnival for their proposed licence agreement relating to a proposed new cruise ship terminal.

    “The decision was based on there being no conduct to which the interim authorisation would apply. It does not involve any assessment of the merits of the application for final authorisation,” ACCC Commissioner Roger Featherston said.

  • ACCC inquiry into NBN Wholesale service standards

    The ACCC has today announced a public inquiry to determine whether NBN wholesale service standard levels are appropriate, and to consider whether regulation is necessary to improve customer experiences.
    The inquiry will focus on the ability to enforce appropriate service standard levels at a wholesale level, including redress arrangements when consumers seek compensation at a retail level when those wholesale standards are not met.
    “We are very concerned about the high number of complaints from consumers around poor customer experiences, particularly in relation to customers connecting to NBN services and having faults repaired,” ACCC Chairman Rod Sims said.

  • ACCC welcomes 5G but flags competition issues

    The ACCC is rethinking the way it approaches spectrum competition issues ahead of the upcoming 5G auction, ACCC Chairman Rod Sims said today.

    At the RadComms conference in Sydney today, Mr Sims also urged government to take a long-term, consumer-centric approach to spectrum allocations.

    “Traditionally, the ACCC has sought to prevent dominance of spectrum by any one licensee in particular bands. However, we are rethinking this approach,” Mr Sims told the conference.

    “Instead, and this is a key point, we want to consider spectrum holdings holistically rather than in particular bands.”

  • Recent new entrants will increase competition at container ports

    The ACCC’s annual Container Stevedoring Monitoring Report has stated that while stevedoring operating profits per TEU have risen by over 25 per cent in 2016-17, competition levels are set to increase as there are now three stevedores competing at the nation’s three largest container ports.

    “Competition has significantly increased in recent years with the introduction of a third stevedore in Sydney and Brisbane, and now we can add Melbourne to that list. As such, we expect to see greater levels of price competition as new entrants and incumbents compete for market share,” ACCC Chairman Rod Sims said.

  • ACCC releases updated Media Merger Guidelines

    Following recent reforms to media ownership laws, the ACCC has released its updated Media Merger Guidelines.

    The revised guidelines detail the ACCC’s approach to media merger reviews and outline areas of potential focus, including the role of premium content, diversity in the Australian media landscape, and the impact technological change and innovation is having on the media industry more broadly.

  • ACCC won't oppose proposed Essilor and Luxottica merger

    The ACCC has decided to not oppose the proposed merger between Essilor International (Essilor) and Luxottica Group S.p.A. (Luxottica).

    In Australia, Essilor mainly sells wholesale finished ophthalmic lenses, used to correct visual impairments. Luxottica largely supplies wholesale prescription frames and sunglasses, including such brands as Ray-Ban, Oakley and Prada. Luxottica also has retail outlets, such as OPSM and Laubman & Pank. 

    “As Essilor and Luxottica mostly supply products at different stages of the supply chain, there is minimal direct competitive overlap between the two parties,” ACCC Commissioner Roger Featherston said.

  • ACCC won't oppose Borg, CHH Panels proposed acquisition

    The ACCC will not oppose the Borg Group’s (Borg) proposed acquisition of Carter Holt Harvey Pinepanels’ (CHH Panels) Mount Gambier and Oberon particleboard plants.

    CHH Panels is a significant supplier of raw particleboard, particleboard flooring and value-added particleboard, and supplies competitors to Borg, including various downstream manufacturers, distributors and wholesalers of particleboard products. The Mount Gambier plant produces raw particleboard, particleboard flooring and low pressure melamine (LPM) commodity particleboard. The Oberon plant produces particleboard flooring.

  • New approach for truck drivers to claim their meal expenses

    The ATO has today announced it has reinstated the meal-by-meal approach for truck drivers who claim travel expenses for meals, after consulting closely with industry.

    The meal amounts have been published in a revised Taxation Determination and provide separate amounts for each meal.

    The reasonable amounts are $24.25 for breakfast, $27.65 for lunch and $47.70 for dinner. The amount for each meal is separate and can’t be combined into a single daily amount or moved from one meal to another.

  • Electronic tendering option to help business

    Tasmania’s 36,000 small businesses are the engine room of the State’s economy and employ more than 100,000 people. The Hodgman Liberal Government wants to grow that number by 10%, or 10 000 Tasmanian workers, by 2022.

    One way to do this is to make it easier for Tasmanian businesses to bid for and win government contracts, and a re-elected majority Liberal Government will set a target of 90% of contracts going to Tasmanian-based companies by 2022.

    Our Local Benefits Test is working, with 81% of government contracts now won by Tasmanian-based business – up from 63% when we came to office – but there is more work to do.

  • Two Wells To Whyalla: The First Regional Economic Corridor

    The 340km stretch between Two Wells and Whyalla is South Australia’s first designated Economic Corridor, becoming a focal point for increased employment and investment.

    Regional Development Minister Geoff Brock launched the Two Wells to Whyalla (2W2W) compendium at the 2017 Sustainable Economic Growth for Regional Australia (SEGRA) conference in Port Augusta today.

  • No GST getaway for drivers

    The Australian Taxation Office (ATO) is reminding ride-sourcing drivers of the importance of meeting their tax obligations this tax time.

    Assistant Commissioner Tom Wheeler said the ATO is still working to educate ride-sourcing drivers, but now focus is shifting to drivers who are ignoring their obligations.

    “We know that most drivers do the right thing, and we are now focusing attention on the minority of drivers that are not currently meeting their obligations,” he said.

  • ATO clarifies impact of the MAAL

    Commentary today has misrepresented the ATO’s evidence given at Senate Estimates in relation to the Multinational Anti-Avoidance Legislation (MAAL). We wish to confirm the ATO is active in ensuring compliance by multinationals and the corporate tax sector, and the MAAL is effective in bringing multinational taxpayers to the table.

    The facts are:

  • ACCC releases 2016-17 Annual Report

    The ACCC’s Annual Report for 2016–17 has been tabled in Parliament, highlighting a broad range of successes that have promoted competition and fair trade to benefit consumers, businesses and the community.

  • Issues paper for northern Australia insurance inquiry

    The ACCC has today released an issues paper for its inquiry into the supply of residential building, contents, and strata insurance in northern Australia. The Australian Government directed the ACCC to undertake a wide-ranging inquiry due to concerns about affordability and availability of insurance in the region.

    The ACCC will be hosting a series of public forums so consumers can share their concerns directly with the ACCC. The forums will be held in November and December this year in Townsville, Cairns, Darwin, Alice Springs, Karratha, Broome, Rockhampton, and Mackay.

  • Two out of five Australian taxpayers still yet to lodge

    The Australian Taxation Office (ATO) is reminding taxpayers that with the 31 October deadline fast approaching, now is a good time to lodge your return or make sure you are on your registered agent’s books.

    Assistant Commissioner Kath Anderson said 63 per cent of Australian taxpayers have beaten the deadline already and lodged their returns either through myTax or with an agent.

    “Over eight million Australian residents have already lodged their returns this tax time, but we know some people are leaving their run pretty late,” Ms Anderson said.