The Australian Retailers Association (ARA) is calling on the new Turnbull Government Ministry to follow through on the commitments made to small businesses and tax reforms.
Key reforms include the introduction of a competition effects test and instatement of the zero value import threshold before July 2017.
ARA Executive Director, Russell Zimmerman, welcomed the announcement of the new Turnbull Government Ministry on Sunday, including the retention of Small Business in Cabinet with Kelly O’Dwyer to carry through these all important reforms.
“The surge in confidence expressed this week within business is reflective of the Government’s commitment to address issues including GST collection on overseas purchases and the possibility of real reform of competition policy,” said Mr Zimmerman.
Retailers are looking forward to the Government further lifting retail, consumer and business confidence through support for further GST reform, employment law reform and changes to the payments system recommended by the Financial Systems Inquiry (FSI).
“The ARA is pleased to see small business remains in the Cabinet, with the Assistant Treasury portfolio covering off many important areas for the retail sector, from the FSI payments reform to the Harper Review competition recommendations.
“It is now incumbent on the Turnbull Government to commence the task of implementing many of the recommendations which have been made in recent reviews from the Productivity Commission, Harper Review to the FSI,” Mr Zimmerman said.
“The 140,000 Australian independent retail business are demanding that the coalition bring in an effects test as per the recommendations of the Harper review, while a reduction in penalty rates for retailers is crucial in the upcoming Fariwork review.
With the new Turnbull Ministry now in place the ARA is reminding Ministers of the importance of role the retail sector as Australia’s largest private sector employer with more than 10 percent of the working population employed in the retail industry.
“The ARA looks forward to working with all key economic productivity Ministers, including Treasurer, Scott Morrison, Simon Birmingham through Education, Alex Hawke as Assistant Minister to the Treasurer, and Mathias Cormann in Finance.”