Sunday, 25 June 2017 Sydney

Invest In Australia Blog::

  • Australian Competition Tribunal decision on Tabcorp-Tatts merger

    The Australian Competition Tribunal has formally made its determination granting merger authorisation for Tabcorp to acquire Tatts and has today published its reasons for decision.

    In November 2016 Tabcorp sought informal merger clearance from the ACCC to acquire Tatts.

    Shortly after the ACCC released its paper seeking views on potential competition issues in March 2017, Tabcorp withdrew its application for informal clearance and instead lodged an application with the Tribunal for authorisation of its proposed acquisition of Tatts. 

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  • ACCC proposes to grant bulk wheat Port Code exemptions at the Port of Geelong and Port Adelaide

    The Australian Competition and Consumer Commission has released draft determinations proposing to exempt Riordan Grain Services and Semaphore Container Services from certain parts of the mandatory Bulk Wheat Code in relation to their respective operations at the Port of Geelong and Port Adelaide.

    “Riordan and Semaphore will both face significant competitive constraint from larger operations. The ACCC’s preliminary view is that it is appropriate to grant exemptions to these smaller players,” ACCC Commissioner Cristina Cifuentes said.

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  • ACCC won't oppose Cabcharge buying Yellow Cabs in Queensland

    The Australian Competition and Consumer Commission will not oppose the proposed acquisition by Cabcharge Australia Limited (ASX:CAB) of Yellow Cabs (Queensland) Pty Ltd.

    Yellow Cabs is one of the two large taxi networks in Brisbane, with a market share of approximately 50 per cent. While Cabcharge does not currently operate any taxi networks in Queensland; it does provide non-cash payment services and equipment.

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  • Taking care of business

    The Australian Taxation Office (ATO) is encouraging small businesses to get a head start on the new financial year by taking care of business now.

    Assistant Commissioner Deborah Jenkins says that thousands of small businesses register every month, which means there are a lot of new business owners about to have their first tax time experience.

    “We understand that around 50 per cent of small businesses come under financial pressure within the first year, and one of the biggest issues is cash flow,” she said.

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  • Tax Time 2017 work-related expenses audio and video grabs

    One of the ATO’s main focus areas this year is incorrect claims for work-related expenses.

    These recordings feature Assistant Commissioner Kath Anderson discussing why it’s important to know what can and can’t claim before you lodge and the three golden rules for making work-related expense claims. The audio file (WAV 11.7 MB) and video fileExternal Linkare available for media use.

    Audio transcript

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  • Don't be a dummy with your deductions

    The Australian Taxation Office (ATO) is warning taxpayers to avoid incorrect claims for work-related expenses at tax time this year.

    Assistant Commissioner Kath Anderson said the ATO is using real-time data to compare taxpayers with others in similar occupations and income brackets, to identify higher-than-expected claims related to expenses including vehicle, travel, internet and mobile phone, and self-education.

    “It is important to know what you’re eligible to claim before lodging your tax return and to make sure you don’t claim more than you’re entitled to,” Ms Anderson said.

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  • Regional Growth Fund

    Councils, industry and community organisations in regional NSW are encouraged to apply for funding for their local infrastructure projects.

    The $1.3 billion Regional Growth Fund includes:

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  • Small businesses encouraged to claim instant asset write-off

    The Australian Small Business and Family Enterprise Ombudsman has encouraged small business operators to take advantage of the Government’s instant asset write-off extension.

    More businesses are now eligible to buy equipment (new or second hand) up to $20,000 and write it off immediately after legislation passed the Senate. Multiple claims can be made under the program.

    Small business has also been redefined for tax purposes as having a turnover less than $10 million, up from $2 million.

    Ombudsman Kate Carnell welcomed the changes.

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  • Small business needs reliable power and stable prices

    The Australian Small Business and Family Enterprise Ombudsman has called for a bipartisan approach to energy policy to avoid job losses and business closures.

    Ombudsman Kate Carnell says the small business sector faces being crippled by rising electricity costs and reduced reliability if the status quo remains.

    Ms Carnell said both sides of politics should endorse the Finkel Report and adopt its recommendations.

    “Business as usual is no longer an option. Business as usual is lack of reliable power and exponential price increases,” she said.

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  • Faster and cheaper approvals for home owners

    Changes to the Housing Code will make it easier, cheaper and faster for home owners in NSW to get approval for a new home or renovation.

    The new Housing Code will simplify the planning rules for homes approved under a fast-tracked complying development pathway.

    For the first time, the code will include easy-to-follow diagrams, making it easier to understand the building standards that must be met when building or renovating.

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