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Invest In Australia News::

  • More couple families have both parents working

    The number of couple families with children that have both parents working has increased in the last decade, according to statistics released by the Australian Bureau of Statistics (ABS) today.

    Chief Economist for the ABS, Bruce Hockman said that in June 2017 some 64 per cent of couple families with children had both parents working, while a decade ago the proportion was 59 per cent. 

    “The increasing proportion of couple families with children where both parents work is an ongoing trend we have been observing for a decade, as female participation rates in the labour market have increased to the current record high of around 60 per cent,” Mr Hockman said. 

  • ACCC homes in on better broadband speed info for consumers

    The ACCC has today announced SamKnows as the successful tenderer to undertake its $6.5 million broadband speeds monitoring program, which will see broadband speeds recorded across 4000 Australian homes over the next four years.

    The appointment of SamKnows to deliver the ACCC’s Measuring Broadband Australia program follows the conclusion of a competitive open tender conducted in accordance with Commonwealth government requirements.

    Over the first year of the program, some 2000 households will receive testing devices, with the results of the speed tests being reported on publically by the end of the first quarter in 2018.

  • ACCC seeking comment on Telstra's proposed FTTC migration plan

    The ACCC is seeking feedback on a discussion paper detailing Telstra’s proposed variation to the NBN Migration Plan to facilitate the rollout of fibre to the curb technology (FTTC).

    In 2015 the ACCC approved a revised Migration Plan which details how Telstra will progressively migrate existing customers’ telephone and internet services to multi-technology mix NBN services.

    Telstra’s proposed variation will facilitate the rollout of FTTC by NBN Co as an access technology. The rollout of FTTC is planned to commence in 2018.

  • ACCC won't seek review of Tabcorp-Tatts determination

    The ACCC has decided that it will not apply for judicial review of the Australian Competition Tribunal’s determination to grant conditional authorisation to Tabcorp (ASX:TAH) for the proposed acquisition of Tatts Group (ASX:TTS).

    “The ACCC has closely examined the Tribunal’s reasons. Unlike the original decision of the Tribunal we do not consider there is any error of law that needs to be corrected. For this reason the ACCC will not be seeking further review,” ACCC Chairman Rod Sims said.

  • Section 46 no defence for uncompetitive firms

    ACCC Chairman Rod Sims has delivered a warning to Australian firms: the competition watchdog is not going to protect them from competition.

    Delivering a speech in Sydney today, Mr Sims outlined how the recently legislated changes to the Competition and Consumer Act 2010 (CCA), especially s46, help the ACCC protect the competitive process by allowing firms, big and small, to compete on their merits.

  • Dwelling approvals rise 0.7 per cent in October

    The number of dwellings approved rose 0.7 per cent in October 2017, in trend terms, and has risen for nine months, according to data released by the Australian Bureau of Statistics (ABS) today.

    "Dwelling approvals have continued to strengthen in recent months, rising above 19,000 dwellings in October 2017," said Justin Lokhorst, Director of Construction Statistics at the ABS. "This is the first time the series has reached this level since August 2016."

  • AASB Discussion Paper: Australian-specific Insurance Issues - Regulatory Disclosures and Public Sector Entities

    Have your say:  If insurance risk is economically the same, shouldn’t the accounting be the same?

    Certain public sector insurance contracts or ‘insurance-like’ arrangements that arise by statute currently fall outside the scope of AASB 17 Insurance Contracts, although they are substantially no different from contracts within the scope of AASB 17.  This leads to diversity in practice and the possibility that some public sector entities may not appropriately reflect their insurance risk in their financial statements.

  • ACCC to delay consideration of BP's acquisition of Woolworths' service stations

    At the request of BP and Woolworths (ASX: WOW), the ACCC has delayed its consideration of BP’s proposed acquisition of the Woolworths’ retail service station sites so that the ACCC can consider further information from the parties. The expected new decision date is 14 December 2017. 

    “This is a significant decision for the retail petrol market in Australia. The extension to the consideration period will allow the ACCC to consider further information from the parties,” ACCC Chairman Rod Sims said.

  • ACCC takes action against Ashley & Martin for alleged unfair contract terms

    The ACCC has instituted proceedings in the Federal Court against Ashley & Martin Pty Ltd (Ashley & Martin) alleging that clauses in its standard form contracts are unfair under the Australian Consumer Law and therefore void.

    Ashley & Martin is an Australian company that provides hair loss treatment programs and hair replacement services to customers through its clinics in Australia, New Zealand and Singapore.

  • ACCC takes action against Jayco

    The ACCC has instituted proceedings in the Federal Court against Jayco Corporation Pty Ltd (Jayco), Australia’s largest caravan and recreational vehicle manufacturer, alleging it breached the Australian Consumer Law (ACL) by its conduct towards four customers who purchased defective Jayco caravans.

    The ACCC alleges that, between 2013 and 2015, Jayco acted unconscionably towards four customers by obstructing them from obtaining redress, such as a refund or replacement for their defective caravan. Jayco allegedly did this despite knowing the caravans were defective and not functioning properly, even after repeated, and failed, repair attempts.

  • New agtech project for Victoria to harvest smart farm data

    Victoria’s reputation as Australia’s most innovative agriculture state is being reinforced by a new partnership between Bosch Australia and Monash University.

    A new AgTech Launch Pad facility is being established at Bosch Australia’s Clayton headquarters, with one hectare allocated to a smart farm for cutting-edge research and development.

    The smart farm will include space for cropping trials and early-stage prototype development, enabling the use of artificial intelligence, automation, robotics and advanced sensor technology.

  • Fastway Couriers (Perth) pays penalty for alleged Franchising Code breach

    28 November 2017

    West Aust Couriers Pty Ltd, trading as Fastway Couriers (Perth), has paid a $9,000 penalty after the ACCC issued an infringement notice for alleged non-compliance with the Franchising Code of Conduct (Franchising Code).

    Fastway Couriers (Perth) is the West Australian regional franchisor of the Fastway Couriers franchise.  

  • Increase in marriages for Australians born overseas

    Australians are marrying later, living together before marriage and divorcing less compared with 20 years ago, according to the latest Australian Bureau of Statistics (ABS) figures on Marriages and Divorces.

    Marriages between two Australian-born people have gradually decreased over the last 20 years, with the proportion of marriages between two people born in Australia decreasing from 72.9 per cent in 2006 to 54.5 per cent of all marriages in 2016. 

    Marriages between two people born in the same overseas country have increased from 9.1 per cent in 2006 to 13.9 per cent in 2016. Marriages of people born in different countries accounted for 31.6 per cent of all marriages in 2016 compared with 18.0 per cent in 2006.

  • Increase in marriages for Australians born overseas

    Australians are marrying later, living together before marriage and divorcing less compared with 20 years ago, according to the latest Australian Bureau of Statistics (ABS) figures on Marriages and Divorces.

    Marriages between two Australian-born people have gradually decreased over the last 20 years, with the proportion of marriages between two people born in Australia decreasing from 72.9 per cent in 2006 to 54.5 per cent of all marriages in 2016. 

    Marriages between two people born in the same overseas country have increased from 9.1 per cent in 2006 to 13.9 per cent in 2016. Marriages of people born in different countries accounted for 31.6 per cent of all marriages in 2016 compared with 18.0 per cent in 2006.

  • Man Jailed For Trafficking Abalone

    An operation by Primary Industries and Regions South Australia (PIRSA) with the support of the South Australia Police (SAPOL) has resulted a Mount Gambier man being jailed for Abalone trafficking.

    In December 2014, Christopher Phillips was found carrying 102 (mostly undersized) Abalone in his possession near Cape Douglas, well in excess of the daily limit. A subsequent search of his premises located an additional 108 abalone shells, many of which were undersized.

    Appearing in the Adelaide Magistrates Court, Phillips was found guilty of possession and trafficking of a commercial quantity of Abalone in additional to other unrelated SAPOL matters.

  • Melbourne is Australia’s smartest city in study of 500 global cities

    Melbourne has been ranked tenth in an assessment of the ‘smartness’ of 500 cities conducted by Swedish smart parking technology company EasyPark.

    The company, which has an office in Melbourne, assessed the cities against 19 parameters.

    It also asked over 20,000 technology and urban planning journalists how their cities were moving with the pace of digitalisation.

    Copenhagen, Singapore and Stockholm were the top three smart cities.  Sydney came in at twelve, Perth at 41 and Adelaide at 61.

  • Report on commission-based fundraising in the charity sector

    Today the ACCC released an independent research report on commission-based fundraising in the charity sector, Research into the Commission-based Charity Fundraising Industry in Australia, as part of its 2017 compliance and enforcement focus on consumer issues arising from commission-based sales.

  • IPA National Congress

    Address by Commissioner of Taxation, Chris Jordan AO

    Speech to the IPA National Congress

    RACV Royal Pines, Gold Coast, 23 November 2017

    Check against delivery

  • Small business investment barriers identified

    The Australian Small Business and Family Enterprise Ombudsman today released a study into factors impacting small to medium enterprise investment.

    Speaking at the Institute of Public Accountants national conference on the Gold Coast, Ombudsman Kate Carnell said barriers to investment included access to capital, red tape and energy prices.

    Ms Carnell said removing barriers to investment would give small businesses confidence to grow and boost jobs.

  • Household water use increases 3%

    A total 16,132 gigalitres of water was consumed over the 2015-16 year, the Australian Bureau of Statistics announced today in its annual snapshot of water supply and use for the Australian economy. 

    “Household use of water increased slightly with consumption up 3 per cent to 1,899 gigalitres in 2015-16,” Lauren Binns, the Director of Agriculture and Environment Statistics at the ABS, said.

    While total water consumption by households increased 3 per cent in 2015-16, an increasing number of households meant that each individual household only increased their water use by around 1 per cent.

  • North West Indigenous Pastoral Project Celebrates Ongoing Success

    An Indigenous pastoral project in the state’s Far North has helped train and employ 67 indigenous pastoral workers and aided the return of more than 272,000 hectares back to commercial primary production.

    The achievements and importance of the North West Indigenous Pastoral Project (NWIPP) will be acknowledged at the Indigenous Cattlemen’s Workshop in Port Augusta today, with Minister for Regional Development Geoff Brock attending.

    It’s the first time South Australia has hosted the annual workshop, which is running 21-23 November.

  • Pipi Fishery Opens To Recreational Fishers

    Recreational fishers can once again enjoy collecting Pipi (Goolwa Cockles).

    The popular species can be found along the entire length of Goolwa Beach, from the Murray Mouth to Middleton Point.

    Fishers are reminded that there are size and bag limits in place. Pipi must measure 3.5 cm across the widest part of the shell, with a maximum daily limit of 300 per person east of the line of longitude 136°E and a possession limit of 1200.

    The Pipi Fishery is open from 1 November 2017 until 31 May 2018.

  • ACCC allows agribusinesses to jointly purchase energy

    The ACCC is allowing businesses in the new Eastern Energy Buyers Group (EEBG) to establish a joint energy purchasing group and run joint tender processes for electricity and gas for 11 years. 

    EEBG’s current members are industrial energy users who operate in the agriculture industry. Members have significant operations in Victoria and some operations interstate. The proposed joint tender process would cover supply of electricity, gas and gas transport services to members of the group.

  • Finder.com.au penalised for misleading consumers

    Hive Empire Pty Limited, trading as finder.com.au (Finder), has paid a penalty of $10,800 following the issue of an infringement notice by the ACCC for alleged false or misleading claims about the number of health insurance policies it compares.

    The ACCC alleges that between February and May 2017, Finder represented on its website that its health insurance comparison service allowed consumers to “compare roughly 65,000 policies”, when the number of policies compared was substantially less than this.

    The ACCC issued the infringement notice because it had reasonable grounds to believe that Finder had breached the Australian Consumer Law.