Friday, 22 September 2017 Sydney

Invest In Australia Blog::

  • NSW Government backs UNSW with $8.7 million for Quantum Computing

    The NSW Government today announced it would invest $8.7 million from its Quantum Computing Fund (QCF) in a new quantum computing partnership led by the University of NSW (UNSW).

    Deputy Premier and Minister for Skills John Barilaro said the funding would support a new company - Silicon Quantum Computing Pty Ltd - charged with creating the world’s first quantum computer.

    “NSW has an incredible and an unusual depth of talent in quantum research, and the world is watching our progress,” Mr Barilaro said.

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  • Payment times improve but more needs to be done

    The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has welcomed new data which shows that late payment performance is beginning to improve.

    The latest Dun & Bradstreet report shows that late payments fell during the second quarter of 2017 by 4.6 per cent, while prompt payments rose sharply.

    On average, 63.8 per cent of Australian businesses paid their bills on time. However, just 12 per cent of ASX-listed companies pay on time compared with almost 34 per cent of non-ASX-listed companies.

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  • Small business loan protection threshold should be raised to $5m

    The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has questioned Commonwealth Bank’s commitment to small business lending reform following evidence to a parliamentary select committee.

    Ms Carnell said it was good that banks have finally committed to complying with unfair contract terms legislation, but the lending threshold should be $5 million instead of the $3 million they have agreed.

    At the Select Committee on Lending to Primary Production Customers in Sydney on August 11, the Commonwealth Bank spokesman said:


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  • Supporting and growing Tasmania’s Construction Industry

    Tasmania’s building and construction industries have no stronger supporters than the Hodgman Liberal Government.

    Over the weekend at our State Conference we announced a target to increase the number of people employed in Tasmania’s building and construction industry by 25 per cent by 2022.

    These industries are important to the future of Tasmania’s economic success and the Liberal Government has a proven track record of creating jobs in this sector. We currently have more than 22,000 people employed in the sector, compared with just 16,100 in the last year of the Labor-Green Government.

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  • EPA approval good for regional jobs and the salmon industry

    Today’s approval of Tassal’s Okehampton Bay aquaculture site by the independent Environment Protect Authority, including additional environmental monitoring at the site, is positive news for this sustainable industry and boosting jobs in regional Tasmania.

    The Okehampton Bay finfish lease has now received the highest environmental tick in the land through the federal Environmental Protection and Biodiversity Conservation (EPBC) process and the environmental science underpinning salmon farming at Okehampton Bay was previously assessed by the independent Marine Farm Planning Review Panel as appropriate.

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  • Watch out for NBN scams

    The ACCC is warning the community that scammers are pretending to be from NBN to con victims out of their money and personal information.

    Scamwatch has received 316 complaints this year about scammers impersonating NBN with nearly $28,000 reported lost.

    “Scammers are increasingly using trusted government brands like NBN to trick people into falling for scams. Their goal is always to either get hold of your money or personal information,” ACCC Deputy Chair Delia Rickard said.

    The three common scams reported to Scamwatch that involve scammers impersonating NBN are:

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  • Melbourne is the global human capital and lifestyle city

    Melbourne has just been crowned a global champion for human capital and lifestyle, according to the latest international research.

    The fDi Intelligence Global Cities of The Future study 2017/18 has categorized Melbourne as the top major human capital and lifestyle city with a population of less than 10 million, edging out Sydney and Tokyo.

    Melbourne scored highly in literacy rates, education expenditure, health, quality of life, percentage of population as labour force, number of students and numerous other indicators.

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  • ACCC wants NBN plan advertising overhaul

    The ACCC has published guidance for retailers on how to advertise speeds for NBN broadband services, including clearly identifying typical minimum speeds during peak periods.

    The publication, Broadband Speed Claims – Industry Guidance, seeks to move retailers from advertising their services based on the maximum internet speeds that may be delivered during off-peak periods, to the speeds consumers can expect to achieve during the busy evening periods between 7pm and 11pm.

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  • No time like the present for lodging your tax

    With a suite of online tools that make lodging easier than ever before and the majority of pre-fill information now available, Tax Commissioner Chris Jordan said now is an ideal time to do your tax.

    “We have developed a suite of online services that have made it easier than ever before to get your tax return done, and now we have most pre-fill records such as wages, bank interest and dividends ready for taxpayers and agents to use. This means most of the work is done for you,” Mr Jordan said.

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  • Cable car consultation process

    The Hodgman Government is committed to growing the economy and creating jobs through sensitive and sensible development in the state’s natural areas.

    A cable car on Mount Wellington would be a game changer.  It would showcase one of our most stunning natural landmarks, it would make the pinnacle more accessible to more people and, of course, it would create new jobs for Tasmanians.

    The idea of a cable car on Mount Wellington has been around for over 100 years and it is time to take the next step.

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