Susan Woodward to head Australian Charities and Not-for-profits Commission
Today I announce the appointment of Ms Susan Woodward AM as the full-time Commissioner to the Australian Charities and Not-for-profits Commission (ACNC) for a five-year period commencing on 12 December 2022.
The Albanese Government believes in the value that charities bring to our economy and society, and respects their role in our democracy. The charity and non-profit sector comprises around one-tenth of employment, and a significant amount of GDP.
The ACNC is the independent national regulator of charities, and works to support a strong, independent and innovative not-for-profit sector. It is vital for Australia that the ACNC be headed by an experienced leader, who commands broad respect across the Australian community sector.
Ms Woodward has extensive experience in the charities and not-for-profits sector. Since 2015, she has been the Chief Adviser, Not-for-profit Law at Justice Connect. She has previously served in senior roles in the Australian Government and the ACNC and is a recognised legal and regulatory expert. She was awarded a Member of the Order of Australia in 2021 for her significant service to the not-for-profit sector, to fundraising and to the law.
Ms Woodward’s appointment continues the Albanese Government’s strong record of identifying capable women for senior public sector roles.
The Albanese Government thanks Deborah Jenkins for her contribution as acting ACNC Commissioner for the past few months.
Warren Hogan Memorial Lecture: Economic Dynamism: A Global Perspective
UNIVERSITY OF SYDNEY, SCHOOL OF ECONOMICS
WEDNESDAY, 2 NOVEMBER 2022
***CHECK AGAINST DELIVERY***
I acknowledge the Gadigal people, Traditional Custodians of the land on which we gather today, and pay my respects to their Elders past and present.
Thank you to the Sydney University School of Economics for hosting today.
I have fond memories of my first-year economics class in Merewether in 1991.
In the seat next to me was my friend Justin Wolfers – now a professor at the University of Michigan, and co-author of a major first-year textbook.
Last month, I gave a talk to Justin’s Economics 101 class at the University of Michigan, reflecting on the power of economics in public policy.
It's a lesson our first-year Sydney University lecturer embodied.
In 1991, he was just another dashing macroeconomics lecturer, but Yanis Varoufakis would go on to enter the Hellenic Parliament, and serve as one of the most significant finance ministers in Greek history, attempting to help navigate his country’s economy through the 2015 debt crisis.
He had quite the influence on his students – my parliamentary colleague Chris Bowen, who delivered the 2019 Lecture, is another student of this era (Bowen 2019).
At that time, the School of Economics was a mere 69-year-old whippersnapper.
It’s hard to believe it celebrated 100 years in July.
Congratulations to Garry Barrett for your leadership of the school, as well as your pioneering microeconometric research, especially on inequality.Read more
Joint media release with
The Hon Luke Gosling OAM MP
Member for Solomon
CHARITIES CONSULTATIONS CONCLUDE IN DARWIN
The nation’s largest charity consultation reached Darwin yesterday, as the Albanese Government meets with charities across the country to discuss how to rebuild their role in communities.
Over the past generation, Australia’s community bonds have frayed as people have become less likely to join, volunteer and participate in community activities.
And for nearly a decade, the previous government downplayed and discouraged the expertise of charities and non‑profit organisations, and our communities have paid the price.
Yesterday’s Darwin Community Building Forum highlighted that Northern Territory charities are vital for vulnerable Australians and rebuilding community connections.
They deliver critical legal support, health support, and support conservation, land care, and closing the gap.
The forum also highlighted that Northern Territory charities are resilient and innovative, having found new ways to engage supporters and volunteers.Read more
Tax treaty network expansion
The Albanese Government will expand Australia’s tax treaty network to support its commitment to boost international trade and investment, provide improved certainty to taxpayers and guard against tax evasion and avoidance practices.
New negotiations are planned with Bulgaria, Colombia, Croatia, Cyprus, Estonia, Latvia and Lithuania. These countries add to the current program which includes Portugal, Slovenia, Greece and Luxembourg. The current program also includes Iceland who signed a tax treaty with Australia on 12 October 2022.Read more
KATIE WOOLF: Joining me on the line right now to tell us about a bit of a town hall meeting that happened a little earlier this morning is Andrew Leigh, the Assistant Minister for Competition, Charities and also Treasury. Good morning to you Minister.
DR ANDREW LEIGH: Good morning, Katie. Great to be with you.
WOOLF: Yeah, good to have you on the show. Tell us a little bit more about this meeting that took place earlier this morning.
LEIGH: Luke Gosling and I got together with NT charities this morning to talk about some of the big challenges facing the sector. Over the last generation, we've seen a drop in the share of Australians joining community organisations, donating money, participating in sporting activities, or volunteering their time. So what we wanted to do is to get together some of those remarkable NT charities to talk about how we turn this around. We had people there from religious organisations, animal welfare organisations, disability support organisations, and it was really valuable sharing the ideas and getting a sense of what we can do to build a more reconnected Australia.
Joint media release with
The Hon Jim Chalmers MP
The Hon Stephen Jones MP
Minister for Financial Services
ACCC report into digital platform services
The Albanese Government welcomes the release of the Australian Competition and Consumer Commission’s (ACCC) latest report into digital platform services.
The inquiry has identified significant consumer and competition issues across a range of digital platform services including search engines, social media, online private messaging, app stores, online retail marketplaces and digital advertising.Read more
Cost of Living
Matter of Public Importance
House of Representatives
9 November 2022
It is certainly true that in Australia we have a strong egalitarian ethos. Ours is a country where many people would prefer to sit in the front seat of a taxi, where we prefer to use the word 'mate' rather than 'sir', where we don't have private areas on the beaches and where most people don't stand up when the Prime Minister enters the room. Yet, over recent generations, we've seen a steady rise in inequality. As Thomas Piketty outlined in his book Capital in the Twenty-First Century, we've seen, across the advanced world, an increase in the share of the top one per cent of income earners. We've seen an increase in the share of the top 0.1 per cent of income earners, tripling since the early 1980s. We have seen CEO pay increase far faster than an average worker's pay. Work by Tomas Kennedy and Peter Siminski asks the pertinent question: for Australians born in successive generations, what's the chance that they earned more than their parents? For Australians born in the 1950s, 84 per cent earned more than their parents. For Australians born in the 1980s just 68 per cent earned more than their parents.
We've seen a fanning out of real wages since 1975. Since 1975, wages at the 10th percentile have grown in real terms by 33 per cent. Wages at the median have grown by 55 per cent. But wages at the 90th percentile have grown by 81 per cent. That is, earnings are growing nearly three times as fast for the highest paid as for the lowest paid. Work done by Treasury, which I highlighted in my recent Gruen lecture, shows that market concentration has risen. The biggest firms have a larger slice of the pie than they did in decades past. Mark-ups have increased -- the gap between what firms charge and their costs has grown. Under the former governments we saw the JobKeeper scheme funnel some $20 billion of taxpayer money to firms with rising revenues, some of which used that taxpayer money to pay executive bonuses.Read more
THE HON DR ANDREW LEIGH MP
ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY
Beneficial ownership register - consultation
The Albanese Government has opened consultation on the design features for the first phase of a publicly available beneficial ownership register. We announced we would implement the register as part of our commitment to ensuring multinationals pay their fair share of tax.
A beneficial owner is a person who ultimately owns or controls an entity, legal vehicle, or asset. Beneficial owners are not always the legal owners of the relevant entity, vehicle, or asset.
A public beneficial ownership register is intended to increase transparency of beneficial ownership in Australia and discourage the use of complex structures that avoid legal requirements and obscure tax liabilities. It seeks to support stronger regulatory and law enforcement responses to tax and financial crime, assist foreign investment applications, and facilitate the enforcement of sanctions.
In this consultation on the first phase of the reform, the Government would welcome views on a proposal to require specified unlisted entities regulated under the Corporations Act 2001 (Corporations Act) to maintain beneficial ownership registers. It also seeks comments on proposed amendments to the substantial holding notice and tracing notice regimes in the Corporations Act.
In future phases, the Government intends to consult on approaches to disclosure of beneficial ownership held through other legal vehicles, such as trusts, and the centralisation of information in a single public registry.
Implementation of a beneficial ownership register would broadly align Australia with international approaches to transparency of beneficial ownership information. Currently, Australia is not ranked highly against international benchmarks for the collection and disclosure of beneficial ownership information, including those set out by the Financial Action Task Force.
Ensuring everyone pays their fair share of tax in Australia will help to fund vital services, repair the Budget, and level the playing field for Australian businesses.
We welcome contributions from the community. Submissions close on 16 December 2022.
To access the discussion papers or lodge a submission, visit the Treasury website.
SENATE COURTYARD, PARLIAMENT HOUSE
THURSDAY, 3 NOVEMBER 2022
TOPICS: Multinational tax, ATO corporate tax transparency report, $5 note, energy prices, renewables, industrial relations laws
ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY DR ANDREW LEIGH: Thanks very much for coming along. My name is Andrew Leigh, the Assistant Minister for Competition, Charities and Treasury. Well, today we had the release of the Australian Tax Office’s Corporate Transparency Report. This is a report that is brought into the public domain as a result of laws passed under the Gillard Government, to the cries and objections from the Liberals at the time. It shows for 2,468 corporations, their tax that they've paid, their total income and their taxable income. It's really important that all firms pay their fair share of tax. And the Corporate Transparency Report is a Labor initiative that is delivering to Australians more information about tax paid. This is for the year 2020-2021. So it's not yesterday's information, but it is critical to corporate tax transparency.
Labor is strongly committed to making sure that all firms pay their fair share of tax. The recent budget, we funded the ATO's Tax Avoidance Task Force to the tune of $1.1 billion over the next four years to ensure that multinational firms don't get a leg up on their local competitors simply because they're exploiting unfair tax loopholes. We announced we'd be closing down a number of tax loopholes that have been exploited by multinationals. Multinationals will no longer be able to deduct as much debt as a result of our changes to the thin capitalisation regime. We've made changes to the ability of multinationals to use royalty payments inappropriately to minimise their tax bill. And we're expanding transparency for large corporations in Australia. For significant global entities - you can think of these as firms with revenue over a billion dollars - we're requiring country by country reporting detailed tax information, ensuring those firms are paying their fair share. For public companies, listed and unlisted, we'll require the number of their subsidiaries and the countries in which they're located. Again, a measure to ensure that we're not seeing taxes that should be paid in Australia, leaking away to low or no tax jurisdictions. Any firm that's tendering for a government tender worth more than $200,000 will have to disclose its country of tax domicile.
The Albanese government is strongly committed to a level playing field on tax, ensuring that firms are competing based on serving their customers well, being innovative and providing a good workplaces for their employees. The last thing we want is an economy in which firms are competing based on who's got the best tax loophole. That doesn't provide a stronger economy. That's not the foundation for the productivity growth that we know is vital. Very happy to take questions on the report or other economic issues.
The Herald Sun, Wednesday 2 November 2022
A generation ago, rules in some states governed when bakers could bake their bread. Many families had to do their grocery shopping in a mad rush on Saturday morning before stores closed for the weekend. Energy markets were run by inefficient monopolies, and the electricity grid was much less joined up across states than it is now.
The result was less competition and higher prices.
That’s why thirty years ago this month, then Prime Minister Paul Keating asked Fred Hilmer to lead a reform process that became National Competition Policy.
As Keating put it, ‘We brought a new word to the Labor lexicon – competition… we were tired of paying twice as much as we should be paying for cars, for telephones, for clothing, for electricity. By cutting tariffs and by lifting domestic competition, we created a low price structure, thereby allowing people’s wages to go further.’
To think of a part of Australia where bakers could not bake at particular times is to imagine somewhere that feels deeply foreign. It’s like Doctor Who, but with baking regulations instead of aliens.Read more