Myer chairman Paul McClintock addressed shareholders this morning at the department store's annual general meeting.
Here's what he had to say about Australia's competitive landscape:
"Like all retailers, we have been operating in a difficult environment with consumer confidence remaining subdued throughout much of the year and significantly affected by the Federal Budget during the fourth quarter.
"In my view, governments in Australia need to work harder to create the right conditions for business to thrive. One of the most important ways they can do this is to ensure consistent laws.
"Currently retailers are having to face several major inconsistencies which harm trade. The first, which I have raised repeatedly, is the continuing unfair exemption for overseas companies on the Goods and Services Tax on delivery of items of what is misleadingly called ‘lower value’.
"Myer collected over 300 million dollars in GST from our customers in the last financial year, pays income tax of over 49 million dollars and payroll tax of over 20 million dollars.
"Offshore retailers selling into Australia pay none of this and it is important that this loophole is closed. The retail industry has argued strongly that the GST exemption issue must be on the agendas of Federal and State governments, but action has still not been taken.
"Turning to the ongoing issue of trading laws and regulation we are pleased that the Federal Government has made some moves towards listening to the industry’s concerns and we welcome the commissioning of the Harper Competition Policy Review.
"We recently made a submission to this review on the issue of inconsistent trading hours across Australia.
"We agree with Professor Harper and the panel that the remaining restrictions on retail trading hours should be limited to Christmas Day, Good Friday and the morning of ANZAC Day.
"The draft report says the current restrictions impede suppliers’ ability to meet consumer demand.
"I quote from the draft report: “They discriminate among retailers on the basis of factors such as products sold, size of retailer or location of retailer. They can also impose costs on consumers by creating inconvenience and congestion. The rules can be complex and confusing and create compliance costs for business.”
"Nowhere is this more obvious than in NSW where on Boxing Day – the day of the commencement of major sales across Australia – a resident of the biggest city in Australia, is only able to shop at two of our stores in the Greater Sydney area – Sydney City and Bondi.
"Western Australia, South Australia and Queensland also have restrictions which make us uncompetitive.
"Whilst we are pleased the Government’s inquiry is looking at these issues, I believe it is now time for action by all governments involved, not just discussion.