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Invest In Australia News::

  • Farm Management Deposit scheme reaches record high

    Minister for Agriculture, Barnaby Joyce said today the Farm Management Deposits (FMD) Scheme had reached its highest level of deposits since the programme began in 1999. On 30 June 2015 there was over $4.6 billion held in accounts. 

    Minister Joyce said this high uptake indicates how important FMDs are for Australian farmers, and is why the Australian Government had committed to enhancing the scheme further as part of the Agricultural Competitiveness White Paper. 

    "FMDs allow farmers to put pre-tax income aside in good years to build up cash reserves for use in low income years," Minister Joyce said. 

    "Having money set aside in an FMD to draw on in lean years can help farmers bring their businesses back to profitability when conditions improve. 

  • PwC Australia announces FY15 full year results

    Interest rates on loans across the Australian Government’s concessional loan schemes for farm businesses are set to fall on 1 August.

    Minister for Agriculture, Barnaby Joyce, said the government was providing $250 million a year for the next 11 years through the Agricultural Competitiveness White Paper in low interest drought loans to give farmers surety of access to more affordable credit during difficult periods. 

    “Interest rates on loans currently under the Drought and Drought Recovery concessional loans schemes will fall to 3.05 and 2.71 per cent respectively. Farm businesses that have an existing Farm Finance concessional loan will see their interest rate fall to 3.55 per cent.

  • Interest rates drop for farm business concessional loan schemes​

    Interest rates on loans across the Australian Government’s concessional loan schemes for farm businesses are set to fall on 1 August.

    Minister for Agriculture, Barnaby Joyce, said the government was providing $250 million a year for the next 11 years through the Agricultural Competitiveness White Paper in low interest drought loans to give farmers surety of access to more affordable credit during difficult periods. 

    “Interest rates on loans currently under the Drought and Drought Recovery concessional loans schemes will fall to 3.05 and 2.71 per cent respectively. Farm businesses that have an existing Farm Finance concessional loan will see their interest rate fall to 3.55 per cent.

  • KPMG unveils far-reaching reform blueprint for Australian tax system

    Unprecedented changes across all aspects of personal, capital and business taxes and to the way tax is collected are proposed by KPMG Australia in its submission to Treasury on tax reform, published today.

    Peter Nash, KPMG Australia Chairman said: “If serious tax reform does not take place over the next few years, Australia risks being uncompetitive internationally. KPMG’s submission to Treasury contains some far-reaching proposals because the situation needs innovative solutions, not just tinkering at the edges. This is a once in a generation opportunity to get tax reform right and as a country we need to set the tax system on a solid footing for the long term.”

     

  • Improving access to agricultural and veterinary chemicals

    Funding to improve access to agricultural and veterinary (agvet) chemicals will put farmers on a more equitable footing with their international competitors. 

    Minister for Agriculture, Barnaby Joyce, said the Australian Government had committed $8 million over four years to fast-track new products and approve greater uses of existing chemicals. 

    "This funding will help Australian producers have access to the same new and innovative agvet chemicals on offer overseas," Minister Joyce said. 

    "Australia is a relatively small market, which can sometimes mean that the cost involved in registering an agvet chemical makes the venture uncommercial. 

  • Improving access to agricultural and veterinary chemicals

    Funding to improve access to agricultural and veterinary (agvet) chemicals will put farmers on a more equitable footing with their international competitors. 

    Minister for Agriculture, Barnaby Joyce, said the Australian Government had committed $8 million over four years to fast-track new products and approve greater uses of existing chemicals. 

    "This funding will help Australian producers have access to the same new and innovative agvet chemicals on offer overseas," Minister Joyce said. 

    "Australia is a relatively small market, which can sometimes mean that the cost involved in registering an agvet chemical makes the venture uncommercial. 

  • 2015’s top Western Australian entrepreneurs named

    The winners, by category, were:

    • Emerging – Matthew Allen, Subcon Technologies Pty Ltd
    • Industry – Torsten Ketelsen, GMA Garnet Group
    • Services – Russell Baskerville. Empired Limited
    • Technology – Prof Tim St Pierre, Resonance Health Limited

    Also recognised in the non-competitive regional award categories were:

    • Listed award – Peter Botten, Oil Search
    • Social entrepreneur – Lockie Cooke, ICEA Foundation
    • Champion of Entrepreneurship – Dale Alcock, ABN Group

    The Western Region winners, Social entrepreneur and Listed award recipient will go on to represent the state at the national awards in October, where they will compete for the title of 2015 Australian EY Entrepreneur Of The Year.

  • Cox Peninsula Remediation Project Receives Green Light

    The Minister for Indigenous Affairs, Senator the Hon Nigel Scullion, and the Parliamentary Secretary to the Minister for Finance, the Hon Michael McCormack MP, welcomed Parliament’s approval of the $31.5 million Cox Peninsula Remediation Project.

    The Commonwealth controls and manages land holdings on the Cox Peninsula subject to the long-standing Kenbi Land Claim under the Aboriginal Land Rights (Northern Territory) Act 1976 and has undertaken to relinquish sites covered by the claim and remediate the land.

    “All parties acknowledge the importance of settling this Claim and the Commonwealth, the Northern Territory Government and the Northern Land Council are working closely to finalise arrangements,” Minister Scullion said.

  • New traffic apps turn great digital ideas into even better reality

    23 July 2015: Deloitte has welcomed the release today of seven innovative real-time road traffic apps – the product of the NSW Codeworks Hackathon hosted in late 2014 by Transport for NSW, Roads & Maritime Services (RMS) and Deloitte.

    Transport for NSW and RMS opened up real-time traffic and incident data for the first time to independent developers – fostering innovation all aimed at improving the experience for NSW road users.

    Deloitte Lead Partner for the NSW Transport Cluster, Jamye Harrison, said: “This is a fantastic outcome in terms of how digital expertise and innovation, and the power of the crowd, can be harnessed to deliver real community benefits.

  • Joint media release - Senator the Hon Michaelia Cash, Assistant Minister for Immigration and Border Protection and the Hon Steven Ciobo MP, Parliamentary Secretary to the Minister for Trade and Investment

    In backing the CFMEU and ACTU’s xenophobic scare campaign against our landmark free trade agreement with China, Bill Shorten has confirmed how beholden his leadership is to the most militant elements of the union movement.

     

     

    The dishonest union campaign is based on falsehoods and misinformation. It is also based on demonising China, Australia’s biggest trading partner. 

     

     

     

  • Heritage listed Fitzgerald Bridge restoration now complete

    New life has been breathed into Aberdeen's historic bridge, with restoration work on the 130-year old heritage-listed structure now complete.

    Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss said the Australian Government had provided $28.6 million, with the New South Wales Government investing $400,000, to build a new two lane bridge and restore the original bridge for the use of pedestrians and cyclists.

    “The new two-lane bridge opened to traffic in May last year, removing traffic from the former northbound bridge, which has now been demolished,” Mr Truss said.

  • Dedicated tax support service for drought affected communities

    The Australian Government is committed to helping drought affected communities and we are pleased to announce a new service to help people manage their tax affairs when times are tough. 

    The Australian Taxation Office (ATO) will work with the Department of Agriculture to identify drought-affected taxpayers and will provide personalised assistance and customised support plans for business owners and communities in these areas. 

    With the establishment of a dedicated hotline for drought affected taxpayers on 13 11 42 (Select Option 3), people who need support can discuss their situation and available options to help them manage their tax obligations. 

  • Energise: Eight start-ups ready to take ENR sector by storm

    KPMG Australia today revealed the eight start-ups who have been selected to take part in Energise, Asia-Pacific’s largest energy and natural resources (ENR) accelerator, which runs in Perth from 21 July to 13 October 2015.

    The start-ups have been selected from applicants from all over Australia, and will take part in an intensive program to develop and commercialise their products and services aimed at targeting the ENR sector. The program will culminate with a graduation night where each start-up will pitch to investors, sponsors and guests, with A$200,000 in prizes on offer for the strongest start-up pitches on the night.

     

  • ABARES Regional Outlook conference comes to Rocky

    Farmers, fishers, and others involved in agricultural industries across Queensland’s Fitzroy region will gather for the ABARES Regional Outlook conference in Rockhampton on 29 July.

    ABARES Executive Director, Karen Schneider, said conference delegates would hear from a range of expert speakers from ABARES, the private sector and producers.

    “This year’s conference will consider issues of profitability, productivity and innovation, with a particular focus on how these issues relate to the Fitzroy region,” Ms Schneider said.

  • Companies face ATO challenge on tax risk and governance

    From Monday 20 July, companies have an ATO-set benchmark to establish a tax control and governance framework – and will be expected to comply, or may need to explain why they are not doing so. KPMG’s own research shows that few Australian companies yet meet that level. Failure to implement the framework would be a risk factor the ATO will take into account when considering its audit activity.

  • Bruce Highway Upgrade revised layout released

    A revised layout for the Bruce Highway upgrade between Caloundra Road and the Sunshine Motorway was released today.

    Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss said the layout was based on several years of planning and community consultation.

    “The layout we see today has some differences to the layout released in April 2013 because it takes into account the extensive community feedback received over the last two years,” Mr Truss said.

    “The priority for this upgrade is road safety. The current infrastructure is not up to standard, and this upgrade will create a safer road and ease congestion along this section of the Highway.”

  • SA’s leading entrepreneurs honoured at awards night

    The winners of the 2015 EY Entrepreneur Of The YearTM Central Region awards were announced at a gala ceremony at the Adelaide Entertainment Centre yesterday.

    The winners, by category, were:

    • Emerging – Kayla Itsines and Tobias Pearce, The Bikini Body Training Company
    • Industry –  Sheree Sullivan and Saul Sullivan, Udder Delights Group & Cheese Cellar
    • Services – Jim Whalley, Nova Systems
    • Technology –  Paul Vinton, Vintek

    Also recognised in the non-competitive regional award categories were:

  • TOPICS: Parliamentary travel, negative gearing

    PATRICIA KARVELAS: Now let’s get to that story of the day. All within regulations but not passing the ever important sniff test. The Speaker of the House Bronwyn Bishop says she will reimburse taxpayers for a helicopter trip from Melbourne to Geelong to attend a Liberal fundraiser. That’s more than $5,000 plus a 25 per cent loading. It’s just one of several of the Speaker’s expenses that raised eyebrows and it has prompted calls for an overhaul of Parliamentary entitlements. In other news the Federal Government is adamant that it won’t touch negative gearing on property despite pressure from the Reserve Bank to review the tax break. Let’s get down to business with Federal Finance Minister Mathias Cormann. Good evening.

  • Digital influences 40% of retail bricks-and-mortar store visits

    17 July 2015: Digital interactions influenced 40% of in-store retail visits in Australia in 2014, according to the inaugural Deloitte report, ‘Navigating the new digital divide – digital influence in Australian retail’, released today.

    In terms of digitally-influenced retail sales, Australia comes in third (40%) behind the US (49%) and Canada (41%), but ahead of Germany (30%), The Netherlands (30%) and the UK (27%).

  • Managing Partner Tom Seymour's remarks at PwC Tax Reform Forum in Melbourne

    Welcome and thank you to everyone for making the time to come here today to help further the crucial task of tax reform. And a special welcome to PwC's many business partners in the audience.

    I'm particularly delighted to have the Treasurer, the Honourable Joe Hockey here with us today.

    I know that the Treasurer understands the absolutely crucial need for Australia to get moving on the creation of a better tax system.

    His government's White Paper on Tax Reform and the associated Reform of the Federation White Paper prove it. We thank you for getting the tax reform stone rolling down the hill again. It provides an unmissable moment to achieve big and positive changes.

  • Price fluctuations unlikely to impact global (and Australian) oil and gas industry trajectory

    16 July 2015: The cyclicality of the oil and gas industry, including recent price plunges, is unlikely to impact the long term trajectory of the sector.

    However current fluctuations may speed up a number of global industry trends, according to the latest annual instalment of Deloitte’s Oil and Gas Reality Check report.

    The 2015 edition of the global report highlights six key issues/trends:

  • Partner countries ask Security Council to establish an MH17 tribunal

    The countries undertaking the independent criminal investigation into the downing of Malaysia Airlines flight MH17 have asked the UN Security Council to establish an international criminal tribunal to try those responsible for crimes connected to the downing that occurred over Ukraine on 17 July 2014 and took 298 lives.

  • CPA Australia forms strategic partnership with the Australian Export Awards

    One of the world’s largest accounting bodies, CPA Australia, has joined the nation’s premier export award programme alongside Austrade and the Australian Chamber of Commerce and Industry (ACCI).

    CPA Australia’s decision to be a co-presenting partner for this year’s 53rd Australian Export Awards will bring its international influence and experience to bear on the annual event.

    The annual awards programme, launched in May by the Minister for Trade and Investment, Andrew Robb, recognises the achievements of businesses that have contributed to Australia’s international reputation as a source of innovative, high-quality products and services.

    Alex Malley, Chief Executive CPA Australia, said CPA Australia is proud to co-present the Australian Export Awards in 2015.

  • Growing stronger regions across Victoria

    The Australian and Victorian Governments have today announced the Chair and Deputy Chair appointments to Regional Development Australia (RDA) committees across Victoria.

    Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss said the three-year appointments will provide leadership to RDA committees to drive economic growth and make the most of the potential capability of their region.

    “RDA committees play a key role in growing stronger regions across the nation and ensure all three tiers of government work together,” Mr Truss said.

    “The committees advise on priority activities that have the capacity to unlock regional economic development and improve the productivity of their region.