The Rudd Government is to consider two new measures to simplify small business taxation and reduce small business compliance costs. The potential changes, relating to income tax and GST, are designed to make it easier for small businesses to comply with their tax obligations.An entity flow-through tax regime, developed by the Institute of Chartered Accountants and Deloitte, proposes that ownership arrangements will be set to one side for income tax purposes. Instead, the entity is treated like a... ...Read more »
The ‘chain of responsibility’ could be about to become more stringent, with new laws to be introduced in NSW to crackdown on companies setting unrealistic deadlines. If the legislation is passed, businesses, which promote unsafe driving practices by enforcing impractical targets, will be charged and/or fined. The NSW initiative follows the nationwide introduction of the ‘chain of responsibility’, which came into force in 2005. This legislation was introduced to ensure that... ...Read more »
In the midst of an escalating global food crisis - precipitating riots in several countries - the National Farmers Federation (NFF) has outlined their worries about the “knee-jerk leap” to trade distorting policies by foreign governments. The NFF, peak industry body for Australian farmers, believe the decisions taken are simply misguided attempts to reduce domestic prices. “In response to high food prices, some Governments have counteracted with short-sighted policies to restrict... ...Read more »
Europe is fast becoming the world’s leading exporter of food regulation as authorities in many countries increasingly look for models on which to base their legislation, a food policy expert has said. Speaking at the Vitafoods International Discussion Forum in Geneva on Thursday 8 May, Simon Pettman said that, with international regulators now more closely monitoring developments in the EU, ‘getting it right’ in Europe is essential. Mr Pettman, Director of international food and nutrition... ...Read more »
The South Australian Government’s program to help rid school canteens of junk food has come under fire from the Liberal Opposition due to concerns about food additives. The ‘Rite-Bite’ campaign initiated by the Labor Party is designed to reduce fat, sugar and salt content in school canteens across South Australia, but the lack of policing of preservatives and additives worries the opposition. Shadow Education Minister, David Pisoni, has now called for an investigation into... ...Read more »
The US Congress has passed a $290 billion farm bill, which will increase subsidies to US farmers and cut international aid programs. George Bush has threatened to veto the bill, however, but there is still a good chance it will be passed into law. Interestingly, the presidential candidates response to the bill were contrasting with John McCain critical, Hilary Clinton supportive and Barack Obama labelling it as “far from perfect”. According to an Associated Press tally less than... ...Read more »
The Productivity Commission’s report into Australia’s consumer policy framework, initiated due to concerns over a lack of harmony between state and federal legislation and also to empower consumers, was released today. The report found a number of weaknesses in the current framework which were negatively impacting on both business and consumers. Food retailers, in particular, have had difficulty with ‘regulatory roulette’, which has forced them to decide which jurisdictional... ...Read more »
The 11th meeting of the Australia and New Zealand Food Regulation Ministerial Council was held in Melbourne late last week with health warnings on alcohol and a draft standard on health and nutrition claims among the topics discussed. Strategic direction on the Australian and New Zealand Food Regulatory System The Ministerial Council endorsed the ‘Overarching Strategic Statement for the Food Regulatory System’ that provides the strategic context for the Australian and New Zealand... ...Read more »
The Federal Government has announced they will be reducing restrictions on foreign supermarkets entering the Australian marketplace. The changes will provide supermarkets with five years to develop vacant commercial land as opposed to the current one-year allowance. The new legislation is designed to entice multinational companies like Wal-Mart, Costco and Tesco into Australia; with assistant treasurer Chris Bowen indicating that old legislation stifled competition in the sector. “We... ...Read more »
The NSW Government is set to create the ‘Office of the Retail Advocate’ to help protect shop owners from deceitful landlords, according to reports from News Ltd. The Office would have the power to seize landlord documents if they employ predatory tactics against their tenants and will also be able to prosecute landlords on behalf of tenants who would otherwise lack the financial capacity to take their landlord to court. According to News Ltd, a tenants hotline received 6000 calls from... ...Read more »