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Special Federal Budget Transporter E-News, Issue 32,11/05/2023 (Road Freight Insights)
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<!DOCTYPE html><html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" lang="en"><head><title></title><meta http-equiv="Content-Type" content="text/html; charset=utf-8" /><meta name="viewport" content="width=device-width,initial-scale=1" /><!--[if mso]><xml><o:OfficeDocumentSettings><o:PixelsPerInch>96</o:PixelsPerInch><o:AllowPNG/></o:OfficeDocumentSettings></xml><![endif]--><style> *{box-sizing:border-box}body{margin:0;padding:0}a[x-apple-data-detectors]{color:inherit!important;text-decoration:inherit!important}#MessageViewBody a{color:inherit;text-decoration:none}p{line-height:inherit}.desktop_hide,.desktop_hide table{mso-hide:all;display:none;max-height:0;overflow:hidden}.image_block img+div{display:none} @media (max-width:835px){.social_block.desktop_hide .social-table{display:inline-block!important}.image_block img.big,.row-content{width:100%!important}.mobile_hide{display:none}.stack 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style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="image_block block-1" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tr><td class="pad" style="width:100%;padding-right:0;padding-left:0"><div class="alignment" align="center" style="line-height:10px"><img class="big" src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/a094431a-3703-47bd-bc1b-c32d6c8901d6/me_qta/Transporter%20%285%29.png" style="display:block;height:auto;border:0;width:815px;max-width:100%" width="815" /></div></td></tr></table></td> </tr></tbody></table></td></tr></tbody></table><table class="row row-2" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;color:#000;width:815px" width="815"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="social_block block-1" width="100%" border="0" cellpadding="15" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tr><td class="pad"><div class="alignment" align="center"><table class="social-table" width="312px" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;display:inline-block"><tr><td style="padding:0 10px 0 10px"><a href="https://www.facebook.com/QldTruckingAssn/" target="_blank"><img src="https://app-rsrc.getbee.io/public/resources/social-networks-icon-sets/circle-color/facebook@2x.png" width="32" height="32" alt="Facebook" title="Facebook" style="display:block;height:auto;border:0" /></a></td><td style="padding:0 10px 0 10px"> <a href="https://twitter.com/qta_trucking" target="_blank"><img src="https://app-rsrc.getbee.io/public/resources/social-networks-icon-sets/circle-color/twitter@2x.png" width="32" height="32" alt="Twitter" title="Twitter" style="display:block;height:auto;border:0" /></a></td><td style="padding:0 10px 0 10px"><a href="https://www.instagram.com/qta_trucking/" target="_blank"><img src="https://app-rsrc.getbee.io/public/resources/social-networks-icon-sets/circle-color/instagram@2x.png" width="32" height="32" alt="Instagram" title="Instagram" style="display:block;height:auto;border:0" /></a></td><td style="padding:0 10px 0 10px"><a href="https://au.linkedin.com/company/queensland-trucking-association" target="_blank"><img src="https://app-rsrc.getbee.io/public/resources/social-networks-icon-sets/circle-color/linkedin@2x.png" width="32" height="32" alt="LinkedIn" title="LinkedIn" style="display:block;height:auto;border:0" /></a></td><td style="padding:0 10px 0 10px"><a href="mailto:feedback@qta.com.au" target="_blank"><img src="https://app-rsrc.getbee.io/public/resources/social-networks-icon-sets/circle-color/mail@2x.png" width="32" height="32" alt="E-Mail" title="E-Mail" style="display:block;height:auto;border:0" /></a></td><td style="padding:0 10px 0 10px"><a href="https://www.qta.com.au/" target="_blank"><img src="https://app-rsrc.getbee.io/public/resources/social-networks-icon-sets/circle-color/website@2x.png" width="32" height="32" alt="Web Site" title="Web Site" style="display:block;height:auto;border:0" /></a></td></tr></table></div></td></tr></table><table class="text_block block-2" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tr><td class="pad"><div style="font-family:Verdana,sans-serif"><div class style="font-size:14px;font-family:Verdana,Geneva,sans-serif;mso-line-height-alt:16.8px;color:#555;line-height:1.2"><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"><strong><span style="color:#000000;">Volume 43, Issue 32, 11 May 2023</span></strong></p></div></div></td></tr></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-3" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;color:#000;width:815px" width="815"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"> <table class="divider_block block-1" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tr><td class="pad"><div class="alignment" align="center"><table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%" style="mso-table-lspace:0;mso-table-rspace:0"><tr><td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #bbb"><span> </span></td></tr></table></div></td></tr> </table><table class="heading_block block-2" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tr><td class="pad" style="text-align:center;width:100%"><h1 style="margin:0;color:#555;direction:ltr;font-family:Verdana,Geneva,sans-serif;font-size:23px;font-weight:700;letter-spacing:normal;line-height:120%;text-align:center;margin-top:0;margin-bottom:0"> <span class="tinyMce-placeholder" style="color: #a42036;">Federal Budget - Road Freight Insights</span></h1></td></tr></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-4" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;color:#000;width:815px" width="815"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="text_block block-1" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tr><td class="pad"><div style="font-family:Verdana,sans-serif"><div class style="font-size:12px;font-family:Verdana,Geneva,sans-serif;mso-line-height-alt:21.6px;color:#000;line-height:1.8"><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px"> As members would be aware, the Federal Government handed down the Budget on Tuesday evening, 9 May. The following are a selection of announcements that affect the Road Freight Industry more directly.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px"> As advised earlier in the week, the Road User Charge (RUC) is being increased from 1 July 2023 by 6% year on year for the next 3 years. This is an additional yield for government of more than a billion dollars that trucking businesses will have to pass on to maintain sustainability with freight charges.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px"> When the government has also announced a 90-day capital investment review, we would expect the road investment will increase its share to match the above average taxation increases being applied to the road freight industry for heavy vehicle road investment.</p></div></div></td></tr></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-5" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-radius:0;color:#000;width:815px" width="815"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="image_block block-1" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tr><td class="pad" style="width:100%;padding-right:0;padding-left:0"><div class="alignment" align="center" style="line-height:10px"><img class="big" src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/a094431a-3703-47bd-bc1b-c32d6c8901d6/me_qta/FTC%20at%20February%202023.png" style="display:block;height:auto;border:0;width:774px;max-width:100%" width="774" /></div></td></tr></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-6" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-radius:0;color:#000;width:815px" width="815"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="text_block block-1" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tr><td class="pad"><div style="font-family:Verdana,sans-serif"><div class style="font-size:12px;font-family:Verdana,Geneva,sans-serif;mso-line-height-alt:21.6px;color:#000;line-height:1.8"><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px"> QTA would strongly advise that you seek advice from your Transport accountant. It is important to note that the fuel excise (currently 47.7c) as shown above is automatically indexed to CPI every year and is applied in two half amounts in February and August. CPI is currently tracking at 7%. When the 6% is applied on the RUC (27.2%) the relativity between the two amounts being the Fuel Tax Credit (FTC) remains relatively unchanged.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px">Again it is important to get good accounting advice to understand the direct implications on your business cashflow.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px"> In Tuesday nights budget, the government announced a reduction in the amount small businesses can claim on their tax for a piece of new equipment. Cutting it from a Covid level of $150,000 to $20,000 and equipment costing more than $20,000 can be placed into a depreciation pool, which allows businesses to immediately write off 15 percent and a further 30 percent each year after.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px">Operators with aggregated annual turnover of less than $50 million will be able to deduct an additional 20 per cent of the cost of eligible depreciating assets that support electrification and more efficient use of energy.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px">However, there are no significant incentives or assistance for the heavy vehicle industry to move towards zero emissions when the capital investment costs associated are massive.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:25.2px"> <span style="font-size:14px;"><strong>Payday Super</strong></span></p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px">The decision to align the payment of the superannuation guarantee (SG) with wages is a significant reform to the administration of the SG and Payday super will commence 1 July 2026.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px">While payday super is forecast to be revenue neutral over the medium term, it is expected to deliver about a billion-dollar budget improvement over the forward estimates before a bring-forward of corporate tax deductions offsets the gain beyond the forward estimates.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px">The Government has also announced stronger unpaid super targets for the ATO. The ATO will get $40.2 million to improve unpaid super compliance activities, including $27 million for better data matching capabilities and $13.2 million for consultation and co-design. The ATO currently reclaims 15% of estimated unpaid super liabilities - so there's room for improvement.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:25.2px"><span style="font-size:14px;"><strong>Small Business Tax Amnesty</strong></span></p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px"> The Government will grant small businesses with a turnover of less than $10million a lodgement penalty amnesty. Where a business remits failure-to-lodge penalties for statements missed during 1 December 2019 through to 29 February 2022 but before 31 December 2023, penalties will not be payable. It is expected that $12.3 million in unpaid super will be disbursed to employees as a result of this measure, however, the amnesty itself does not extend to unpaid super liabilities.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:25.2px"><span style="font-size:14px;"><strong>The Clean Building Managed Investment Trust</strong></span></p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px"> From 1 July 2025, the Government will extend the clean building managed investment trust withholding tax concessions to eligible data centres and <strong>warehouses</strong> where construction commenced after budget night.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px"> This measure will also raise the minimum energy efficiency requirements for existing and new clean buildings to a 6-star rating from the Green Building Council Australia or a 6-star rating under the National Australian Built Environment Rating System. The Government will consult on transitional arrangements for existing buildings.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px">These changes will support investment in energy efficient commercial buildings.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:25.2px"><span style="font-size:14px;"><strong>SMS Sender ID Registry and National Anti-Scam Centre</strong></span></p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px">The Australian Communications and Media Authority (ACMA) will establish an SMS Sender ID Registry to help prevent scammers from spoofing key industry or government brand names.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px"> National Anti-Scam Centre is to be established in the Australian Competition and Consumer Commission (ACCC), which will deliver an innovative, world-leading public-private sector partnership to disrupt illegal scams.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:25.2px"><span style="font-size:14px;"><strong>Productivity and long-term growth</strong></span></p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px">There is limited new spending for productivity in this budget. Investments in renewable energy, strategic industries and the National Skills Agreement largely represent previous funding commitments.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px"> There is no specific focus for supporting labour force shortages for the road freight industry with traineeships in companies and or company participation in the training programs to provide apprenticeships or graduates to significant job opportunities in the road freight industry.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px"> The road freight industry is calling upon government for more bold and dynamic investments to lift productivity particularly a genuine all weather freight network and a progressive lift in the productivity of the vehicle fleet. This country needs to be ambitious in not only the journey to low carbon but the efficiency of the design and along movement of freight. The compression of access to our freight roads demands relief.</p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:21.6px"> </p><p style="margin:0;text-align:justify;font-size:13px;mso-line-height-alt:23.400000000000002px">Please contact Gary Mahon on 0418 736 802 to discuss any of the above points in more detail.</p></div></div></td></tr></table><table class="divider_block block-2" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tr><td class="pad"><div class="alignment" align="center"><table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%" style="mso-table-lspace:0;mso-table-rspace:0"><tr><td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #bbb"><span> </span></td></tr></table></div></td></tr></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-7" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-radius:0;color:#000;width:815px" width="815"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="image_block block-1" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tr><td class="pad" style="width:100%;padding-right:0;padding-left:0"><div class="alignment" align="center" style="line-height:10px"><img class="big" src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/a094431a-3703-47bd-bc1b-c32d6c8901d6/me_qta/Acknowledgement%20of%20Country.png" style="display:block;height:auto;border:0;width:815px;max-width:100%" width="815" /></div></td></tr></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-8" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#938c8c"><tbody> <tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;color:#000;width:815px" width="815"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:15px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="text_block block-1" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tr><td class="pad"><div style="font-family:sans-serif"><div class style="font-size:12px;text-align:center;font-family:Verdana,Geneva,sans-serif;mso-line-height-alt:14.399999999999999px;color:#fff;line-height:1.2"><p style="margin:0;mso-line-height-alt:14.399999999999999px"> You're receiving this email because you've signed up to receive updates from QTA. If you'd prefer not to receive updates, you can manage your <a href="https://crm.qta.com.au/mailservant/html-body/@%7Bmailservant-edit-comms-preferences-url%7D" target="_blank" rel="noopener" style="color: #164ca6;">communications preferences </a>or <a href="https://crm.qta.com.au/mailservant/html-body/@%7Bmailservant-unsubscribe-url%7D" target="_blank" rel="noopener" style="color: #164ca6;">unsubscribe</a> from this list</p><p style="margin:0;mso-line-height-alt:14.399999999999999px"> </p><p style="margin:0;mso-line-height-alt:14.399999999999999px">Queensland's road freight voice since 1907. Trusted to Deliver. Driven by Service.</p><p style="margin:0;mso-line-height-alt:14.399999999999999px"> </p><p style="margin:0;mso-line-height-alt:14.399999999999999px">www.qta.com.au | 0733944388</p></div></div></td></tr></table></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><!-- End --> </body></html></!doctype>
