Saturday, 25 November 2017 Sydney

Invest In Australia Blog::

  • ATO warns SMSF trustees to be wary of risky retirement planning arrangements

    The Australian Taxation Office (ATO) is warning self-managed superannuation fund (SMSF) trustees and retirees about the risks of some emerging retirement planning arrangements that they may consider, or be approached about.

    ATO Deputy Commissioner James O’Halloran said the ATO knows most people do the right thing and work hard to save for their retirement.

    “If a taxpayer becomes involved in any illegal arrangement, even by accident, they may incur severe penalties, jeopardise their retirement savings and risk losing their rights as a trustee to manage their own fund.”

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  • West Coast to become Tasmania’s next iconic drive destination

    Tasmania’s spectacular West Coast is set to become Tasmania’s next iconic drive.

    Developing and branding a unique drive experience to the West will be the first priority of a new Tasmanian Journeys Project which is designed to encourage more visitors to explore and stay in our regions.

    Given the success of the Great Eastern Drive, we believe an iconic drive to the West Coast could inspire more visitors to head West and experience this diverse, historic and breathtaking part of Tasmania.

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  • iNsTagrammers exhibition comes to Alice Springs this Summer

    Northern Territory Library’s iNsTagrammers: the best in NT photography from Instagram exhibition is coming to Alice Springs this summer.

    Developed by curator Caddie Brain, the Alice Springs exhibition features 20 new images from Central Australia’s iNsTagrammers, the best snaps of local life from local cattle producers, remote midwives, teachers, ice-cream makers and artists, mums and mayors.

    “The exhibition celebrates the very best in contemporary photography shared on social media by Territorians,” Ms Brain said.

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  • Court publishes redacted version of liability decision in ACCC v CFMEU case

    The Federal Court has today published its judgment on liability in the ACCC v CFMEU case.

    The ACCC commenced proceedings against the CFMEU in November 2014 alleging secondary boycott conduct in breach of section 45D of the CCA.

    The Court also made non-publication and suppression orders which mean parts of the judgment are redacted.

    The ACCC is unable to comment on the judgment due to the non-publication and suppression orders. Accordingly the ACCC will be making no further statements until such time as the non-publication and suppression orders are lifted.

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  • Have your say about improving quad bike safety

    Quad bikes riders and industry can make a submission to the ACCC’s quad bike safety investigation, with proposed reforms outlined in an Issues Paper released today.

    “Tragically, 114 people have been killed in Australia in quad bike accidents since 2011. The ACCC is investigating a range of possible options to improve quad bike safety and prevent further deaths and injuries in the community,” ACCC Commissioner Mick Keogh said.

    “A key question is whether a safety standard should be introduced for quad bikes under the Australian Consumer Law.”

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  • Small Business unfair contract terms in focus

    The ACCC is continuing to educate business and take enforcement action to ensure that small businesses receive the protections of the new unfair contract terms laws.

    Since 12 November last year, when the laws were extended to small business contracts, the ACCC has taken successful court action against a major waste management company, JJ Richards & Sons Pty Ltd, for unfair contract terms including an automatic five-year rollover clause, a unilateral price variation term and a broad indemnity provision.

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  • Small business sector welcomes fair contracts law

    The Australian small business sector has embraced and welcomed legislation that protects them from unfair contracts.

    Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, said a recent survey showed high awareness among small business operators of the unfair contract terms (UCT) legislation, which has now been in force for one year.

    The East & Partners SME survey* of 1280 businesses showed 49.6 per cent had relied on the UCT legislation to negotiate fairer terms in the previous six months and the awareness level was 78.2 per cent.

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  • ACCC releases quarterly report on the NBN wholesale market

    Wholesale Market Indicators Report for the period ending 30 September 2017.

    The ACCC says competition is increasing as more access seekers have built sufficient scale to directly connect with the NBN at more points of interconnection (POIs).

    “This report provides a clear indication of the level of competition developing over the NBN,” ACCC Chairman Rod Sims said.

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  • Licensed post offices and Australia Post may collectively bargain

    The ACCC has granted authorisation to the Licensed Post Office Group Ltd (LPO Group) and its current and future licensed post office members to collectively negotiate with Australia Post.

    LPO Group and its members sought authorisation from the ACCC to collectively negotiate and enter into a new agreement with Australia Post, or to vary agreements already in place for the provision of postal and distribution services by Licensed Post Offices (LPOs).

    LPO Group currently has 870 members and will represent 525 of these financial members in negotiations with Australia Post.  Australia Post currently has a total network of 2881 licensed post offices.

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  • ATO finalises its position in relation to SMSF event-based reporting

    After detailed consultation with the self-managed super fund (SMSF) sector, the ATO announced today that its implementation of SMSF event-based reporting from 1 July 2018 will be limited to those SMSFs with members with total superannuation account balances of $1 million or more.

    Deputy Commissioner James O’Halloran said that this means that SMSFs whose members’ total superannuation balances are less than $1 million can choose to report events which impact their members’ transfer balances at the same time that the SMSF lodges its SMSF annual return.

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