Wednesday, 26 July 2017 Sydney
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Invest In Australia Blog::

  • Review of tax laws to support expansion of Islamic finance products

    Australia's Assistant Treasurer, Senator Nick Sherry, and Minister for Financial Services, Corporate Law and Superannuation, Chris Bowen, announced that the Board of Taxation would undertake a comprehensive review of Australia's tax laws to ensure that, wherever possible, they do not inhibit the expansion of Islamic finance, banking and insurance products.

     

    The Assistant Treasurer, made the announcement at a major business event in the United Arab Emirates (UAE) jointly organised by the Australian Business Group of Abu Dhabi and The Australian Business Council of Dubai, with the support of the Abu Dhabi Chamber of Commerce and Industry and attended by key figures from business, finance and banking community across the Gulf Region.

     

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  • Major contract manufacturing facility for biologic medicines to be built in Queensland

    Australia's first major contract manufacturing facility for biologic medicines is set to be built in Queensland by 2012.

     

    Making the announcement at BIO Chicago yesterday, the Federal Innovation Minister Senator Kim Carr and Queensland Premier Anna Bligh said the Brisbane-based facility would be operated by international drug manufacturer DSM Biologics.

     

    The Queensland Government has provided $7 million in seed funding for the facility under its ten-year Biotechnology Strategic Plan and the Commonwealth is investing $10 million as part of its ongoing push to win high-tech, high-value jobs and industries for Australia.

     

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  • More changes to Australia's student visa program

    Australian Federal Minister for Immigration and Citizenship, Senator Chris Evans, has announced measures to strengthen the integrity of the current student visa program, which will make the visa application process easier for genuine full-time students, he said.

     

    The latest measures, which include changes to the assessment of students studying more than one course, increased powers to cancel visa and streamlining the processing of postgraduate students, will also impose additional checks on those who may seek to abuse the system, according to Senator Evans.

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  • Australia's property market recovering fastest in the world

    Major property investors believe Australia's property market is in a faster stage of up-swing than other markets around the world, new research released by Colliers International reveals.

     

    The Colliers International Global Investor Sentiment Survey, conducted during the first quarter of the year, has shown institutional and private investors around the world believe that if the property cycle were a clock, with the top of the market at 12 o'clock and the bottom at 6 o'clock, Australia is set to swing upwards to 8 o'clock by early next year, from 7 o'clock where it currently sits.

     

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  • City of Melton courts international manufacturers

    Melton Shire Council, a fast-growing urban area in Melbourne's Western region, is offering a range of incentives to international investors and developers who are contemplating establishing manufacturing operations in Australia.

     

    These incentives are available on Council-owned industrial sites in Toolern Business Park, and they relate directly to the number of new jobs to be created in Melton, which has a large skilled local labour force.

     

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  • Indian seminar series on investing in Australia

    Gujarat NRE, the largest producer of low ash metallurgical coke in India with mining facilities in Australia, will be the sponsorship partner in the seminar series, 'Doing Business with Australia', organised by the Australian Trade Commission (Austrade). 

     

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  • Australian Government tightens rules on foreign investment in residential housing

    Assistant Treasurer, Senator Nick Sherry, has announced a major tightening of the foreign investment rules as they relate to residential real estate, as well as strict penalty and enforcement measures for breaches of the new regulations. 

     

    Under these new regulations, foreign non-residents can only invest in Australian real estate if that investment adds to the housing stock, and that investments by temporary residents in established properties are only for their use while they live in Australia.

     

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  • Sherry expresses support for foreign investment in Australia

    Assistant Treasurer Senator Nick Sherry told attendees at the Asian Venture Capital Journal Private Equity and Venture Forum in March that the Australian Government was committed to enhancing Australia's attractive as a destination for foreign investment, with some significant reofrms of aspects of its foreign investment regime already complete.

     

    "On 22 September 2009, we lifted the monetary screening threshold for privately‑owned foreign investors to $219 million — more than twice the previous threshold of $100 million," Senator Sherry said.

     

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  • Austrade film competition to showcase business opportunities

    Parliamentary Secretary for Trade Anthony Byrne has this week announced the launch of a short film competition designed to showcase the world of international business opportunities in Australia. “The inaugural Austrade 2010 Short Film Competition encourages aspiring young film producers to produce entertaining, and informative films highlighting the opportunities, processes and issues for Australians pursuing international business” said Byrne.

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  • Indian mining firm to invest $500 million in NSW coal mines

    Indian mining firm Gujarat NRE Coking Coal has announced plans to invest $500 million in the expansion of its New South Wales coal mines. Gujarat NRE owns and operates two underground coalmines in the Illawarra region and is set to spend $100 million on their expansion over the next 12 months, with the rest to be invested over the next four years. Chairman of Gujarat NRE Arun Kumar Jagatramka said, “The proposed expansion is expected to quadruple production capacity in the two mines and create an additional 150 jobs, including some apprenticeships, in the next five years.”

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