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Invest In Australia News::

  • "Australian Government General Government Sector Monthly Financial Statements January 2015 "

    Key Points

    • The underlying cash balance for the 2014-15 financial year to 31 January 2015 was a deficit of $38,733 million.
    • The fiscal balance for the 2014-15 financial year to 31 January 2015 was a deficit of $35,464 million.
    AGGREGATES

    ACTUAL
    2014-2015
    January
    $m


    ACTUAL
    2014-2015
    YTD January
    $m

    MYEFO
    PROFILE
    2014-2015
    YTD January
  • Enforcement activity to protect the Southern Ocean

    Minister for Immigration and Border Protection, the Hon. Peter Dutton MP
    Parliamentary Secretary to the Minister for Agriculture, Senator the Hon. Richard Colbeck

  • Inspector-General of Taxation review into ATO’s management of tax disputes with large business and High Wealth Individuals

    27 February 2015: The Government has today released the report by the Inspector-General of Taxation to the Assistant Treasurer on his review into the management of tax disputes containing his recommendations.

    Deloitte Lawyers made a submission to the Inspector-General in respect of the Inspector-General’s review. Commenting, Aldrin De Zilva, Partner, National Leader, Deloitte Lawyers says: “Deloitte Lawyers’ submission made several recommendations based on feedback from, and our experiences with, large business and high wealth individual clients in tax disputes.

  • NSW Premier officially opens KPMG Western Sydney office

    The Hon Mike Baird MP, Premier of NSW, Minister for Infrastructure and Minister for Western Sydney today opened KPMG’s new Western Sydney office at Parramatta, as part of KPMG Australia’s expansion of its professional services network. The firm will focus on providing specialist advisory, private enterprise, tax and audit services to meet the needs of businesses in the region as well as build on existing community partnerships.

  • Tourism outlook strengthens as buoyant market conditions boost visitor numbers

    26 February 2015: With both international and domestic tourism growing at their fastest pace in more than a decade, buoyant industry conditions have been further strengthened by sharp falls in the Australian dollar and oil prices and a generally solid macroeconomic outlook.

    The latest Tourism and Hotel Market Outlook has seen Deloitte Access Economics upwardly revise its forecasts for international visitation, with trips to grow by 5.7% and visitor nights by 5.6% each year over the next three years.

  • Changes to Australia’s foreign investment framework

    Following recent decisions on foreign investment in agricultural land, the Australian Government has released an options paper outlining a range of proposed changes which aim to strengthen Australia’s foreign investment framework.

    Feedback on the proposed reforms, which are outlined in a discussion paper on the Treasury website, is sought by 20 March 2015.

  • Gender reporting must drive cultural change

    • Minister Assisting the Prime Minister for Women
    • Assistant Minister for Immigration and Border Protection
    • Senator for Western Australia

    The Australian Government is committed to increasing women’s workforce participation and improving gender equality in the workplace.

    The gender reporting framework under the Workplace Gender Equality Act 2012 was designed so that individual organisations can monitor, reflect upon and improve their own gender equality performance. To achieve this, reporting must be structured in a way that will provide the most value to employers in return for the effort of reporting.

  • Coalition reaffirms support for Rural Financial Counselling Service

    The Coalition Government today reaffirmed its commitment to continuing the Rural Financial Counselling Service (RFCS), following consideration of the National Rural Advisory Council (NRAC) review into the service.

    Minister for Agriculture, Barnaby Joyce, said the government supported NRAC’s recommendation to continue the free financial counselling service, but would not support the report’s recommendation to cut programme funding by 20 per cent.

    “The RFCS provides a critical service to our farming communities, especially during tough times like periods of drought,” Minister Joyce said.

    “This is why the Coalition Government will maintain budgeted levels for the service.

  • Commodity prices savage mining services sector

    Deloitte Financial Advisory Services partner Nicholas Harwood said: “Falling iron ore prices and the dwindling pipeline of new projects are well documented. They are impacting miners in terms of profitability and market capitalisation, and these impacts are, not surprisingly, also being felt by those in the mining services sector.

    “In Q4 2014, there was some improvement in sentiment towards the top 10 participants (which comprise 84% of the Index), with the market capitalisation of five improving and five deteriorating.

  • EY to become one of Asia-Pacific’s largest enterprise intelligence advisors

    EY Asia-Pacific Advisory Leader Paul Clark said building on EY’s strong growth in digital capability, this acquisition accelerates and amplifies the development of EY’s enterprise intelligence and advanced analytics capabilities and delivery of market insights to clients globally.

    “The acquisition will see EY’s capability and capacity more than treble to become one of Asia-Pacific’s largest enterprise intelligence advisors on information management, advanced analytics and business intelligence.” 

    “It will also deliver additional value to our clients around the globe by connecting with the EY Global Analytics Centre of Excellence.

  • Fishing industry nets benefits of red tape reduction

    Australia’s commercial fishing industry is set to benefit from extra red tape reduction measures that will help ensure a competitive and sustainable future.

    Senator Richard Colb​eck, Parliamentary Secretary to the Minister for Agriculture, today congratulated the Australian Fisheries Management Authority (AFMA) for implementing seven red tape busting initiatives, with another 18 initiatives under consultation with stakeholders or in the process of being implemented.

    This effort towards reducing the regulatory burden for fishers was highlighted in today’s rural and regional affairs senate estimates committee.

  • PwC to host second forum on women and leadership

    On Friday 28 February at 4.30am Sydney time, PwC will host its second global forum to students around the world. A recording of the webcast will be available shortly after.

    The live webcast is part of the Aspire to Lead: The PwC Women’s Leadership Series, which includes a number of programmes and workshops hosted by PwC that are designed to provide university students and new professionals with the tools to help them build leadership skills.

  • Small business views can help improve training

    I join my colleague Assistant Minister Simon Birmingham in urging Australian employers to take part in the Survey of Australian Employers being conducted by the National Centre for Vocational Education Research (NCVER) over coming weeks.

    The survey is an important tool to help Australian business, trainers and all governments understand how our training sector is fairing and where improvements need to be made.

    The views of small businesses matter. Small business makes a strong contribution to employment in Australia; around 43 per cent of all private sector employment is from small business.

  • Insurance CFOs call for investment in finance function to help business grow through 2020 and beyond

    Among senior executives at global insurers, 66% said achieving growth, expanding into new markets or expanding through M&A activity was one of the top three priorities for their business for the foreseeable future. At the same time, 54% said managing costs and improving profit was among the top three priorities, and 51% said responding to regulatory change was a top concern.

  • Insurance CFOs call for investment in finance function to help business grow through 2020 and beyond

    Among senior executives at global insurers, 66% said achieving growth, expanding into new markets or expanding through M&A activity was one of the top three priorities for their business for the foreseeable future. At the same time, 54% said managing costs and improving profit was among the top three priorities, and 51% said responding to regulatory change was a top concern.

  • Insurance CFOs call for investment in finance function to help business grow through 2020 and beyond

    Among senior executives at global insurers, 66% said achieving growth, expanding into new markets or expanding through M&A activity was one of the top three priorities for their business for the foreseeable future. At the same time, 54% said managing costs and improving profit was among the top three priorities, and 51% said responding to regulatory change was a top concern.

  • Japan Post bid to acquire Toll: ‘a vote of confidence’ in Australia

    Japan Post has announced an A$8 billion bid to acquire Australian logistics and freight giant Toll.

    In a media statement Australia’s Trade and Investment Minister Andrew Robb said: ‘This offer represents a massive endorsement of Australian skills, services and expertise and underlines the strategic importance of Toll in the Asia Pacific, and provides an ideal platform to spearhead Japan Post and Toll’s global ambitions.’

    ‘Toll is already a giant in the Asia Pacific; this deal will enable Toll to become a giant globally.’

  • Works start on Great Western Highway safety upgrades

    Works on a $96 million Forty Bends and $70 million Hartley Valley Safety package have begun, forming part of a $250 million Great Western Highway—Katoomba to Lithgow upgrade.

    Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss said the works will improve safety for all motorists using the highway.

    “The Great Western Highway is an important transport link between Sydney and Bathurst,” Mr Truss said.

    “The Australian Government is committed to delivering road safety upgrades, productivity improvements and economic growth, and these improvements deliver on that commitment.”

    Federal Member for Calare John Cobb said the Australian Government was fully funding the Forty Bends component of the project.

  • Situation in Yemen

    The Australian Government is deeply concerned about the deteriorating security situation in Yemen and the Houthi Shia militia taking control of the capital Sana’a.

    Australia welcomes the adoption of UN Security Council Resolution 2201 and its demand for the Houthis to engage in good faith in the UN-brokered negotiations, safely release President Hadi and Prime Minister Bahah, and to withdraw their forces from government institutions.

    Australia also supports the Resolution’s call for all parties to cease armed hostilities and to continue the political transition process.

  • Water infrastructure for Tas​mania's future​

    Today's announcement by the Prime Minister, that $60 million in Australian Government funding will support Tasmanian water infrastructure projects, shows the Coalition’s commitment to economic development for Tasmanians—and all Australians—Minister for Agriculture, Barnaby Joyce said.

    Minister Joyce, chairman of the Water Infrastructure Ministerial Working Group, said that water was wealth and stored water was a bank, therefore it was vital that strategic infrastructure such as the projects announced today were progressed to encourage investment in agriculture—and in regional communities.

  • Jobs Fair to be held in Launceston in March

    With approximately 50 exhibitors, you can talk face to face with people in the know about jobs, training, education and career options across northern Tasmania.

    Throughout the day there will be information sessions on how to write resumes, and how best to find employment opportunities in Tasmania’s job market.

    For enquiries about the Jobs Fair or if you are interested in being an exhibitor, phone James McCormack on 0428 299 262.

     

     

    18 Feb 2015

  • Robb: $8 billion Toll offer huge vote of confidence in Australia

    Japan Post’s $8 billion proposal to acquire Australian freight and logistics giant Toll is a major vote of confidence in the future of the Australian economy.

    This proposal reflects the Abbott Government’s repositioning of Free Trade Agreements to not only focus on the export of goods, but on the export of world class Australian services.  Japan Post is not acquiring Australian goods, it’s acquiring Australian services.

    This deal, involving one of Australia’s major services companies, will see a substantial injection of capital, opportunities and jobs, in Toll in Australia.  Under the proposal Toll’s operations would continue to be run out of Australia with its existing management and workforce. 

  • Australia teams up with ANZ in the Pacific

    Today I signed a Memorandum of Understanding (MoU) with ANZ Chief Executive Officer Mike Smith, which will boost Australian Government efforts to enhance economic growth in the Pacific region.

    The MoU with the Australian Government and ANZ creates a partnership that will significantly improve access to finance for many Pacific Islanders and enable them to participate in the formal economy, in some cases for the first time.

    The agreement outlines priority areas for joint cooperation between the Department of Foreign Affairs and Trade and ANZ in the Pacific, including:

  • Burrumbeet to Trawalla Western Highway duplication opens

    Motorists will soon be able to travel on a safer, two-lane divided highway between Burrumbeet and Trawalla, with a 23-kilometre section of the Western Highway opening this week.

    Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss said the opening is a key milestone in the ongoing duplication of the Western Highway from Ballarat and Stawell.

    “This upgraded section of the highway means people driving from Ballarat to Beaufort can take advantage of continuous overtaking opportunities and have peace of mind with safer intersections,” Mr Truss said.