Saturday, 25 November 2017 Sydney

Invest In Australia Blog::

  • Protect yourself against SCAMdalous activity

    The Australian Taxation Office (ATO) is providing taxpayers with simple ways to protect themselves from scammers as part of Stay Smart Online week.

    Assistant Commissioner Kath Anderson says it’s important for taxpayers to remember to stay vigilant and to help family and friends be wary of emails, phone calls and SMS during tax time that claim to be from the ATO, even if they seem legitimate.

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  • Don’t Get The Drift - Think Before You Spray

    Think about neighbours, particularly with vineyards, and don’t underestimate the potential distance of impact before spraying weeds this spring, PIRSA is warning crop producers.

    Actively growing grapevines are highly susceptible to herbicides and were the subject of off-target damage from spray drift or chemical trespass following summer rainfall events early in 2017.

    Certain weather conditions such as inversions, can result in spray drift damage up to tens of kilometres from the application site, so producers must consider sensitive crops that might be some distance away when planning a spray operation.

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  • ACCC decision on NBN Co’s SAU variation on hold

    The ACCC today announced it will not make a decision on NBN Co’s proposed variation to its special access undertaking (SAU) until NBN Co further progresses its consultation with customers on its pricing model.

    NBN Co submitted its revised SAU variation in June 2017 to incorporate fibre-to-the-node, fibre-to-the-basement and hybrid fibre coaxial technologies (multi technology mix services) into the SAU, to reflect the current NBN model. This has the effect of extending the current SAU pricing arrangements to these MTM services.

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  • Lack of competition driving high Brisbane petrol prices

    The ACCC has today released the findings of its study into the Brisbane petrol market, which shows a lack of competition is causing Brisbane motorists to pay more for petrol than in Sydney, Melbourne, Adelaide and Perth.

    Between 2009–10 and 2016–17, Brisbane motorists paid 3.3 cents per litre (cpl) more for petrol on average than motorists in Australia’s other four largest cities.

    “The ACCC’s report confirms Brisbane drivers’ suspicions that they are paying too much for petrol, and that some local fuel retailers are enjoying high profit margins at their expense,” ACCC Chairman Rod Sims said.

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  • Fix WestConnex and Sydney will do better

    Lord Mayor Clover Moore will join forces with transport experts, health experts and community representatives at a public meeting next week to call on the NSW Government to rethink WestConnex to deliver a better deal for all Sydneysiders.

    The discussion will explore why WestConnex won’t solve Sydney’s transport needs, why it will increase congestion and how its $50 billion budget could be better spent.

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  • Tax agent sentenced to over two years’ jail

    A registered tax agent has been sentenced to 29 months’ imprisonment with 18 to serve for attempting to defraud the Commonwealth of approximately $550,000, and dealing with the proceeds of crime.

    Arjuna Samarakoon was sentenced at Melbourne County Courthouse on Wednesday for his role as a tax professional in a company which fraudulently claimed refunds on two separate occasions in 2013 from the Australian Taxation Office (ATO) under the Research & Development (R&D) Tax Incentive, with a total value of $549,719. Mr Samarakoon transferred the majority of the funds to his individual bank account making a personal gain of $380,000.

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  • NAB lead on simpler small business contracts welcomed

    The Australian Small Business and Family Enterprise Ombudsman has welcomed the introduction of shorter, plain English loan contracts by National Australia Bank for small business borrowers.

    The bank announced yesterday that more than 130,000 Australian business owners would benefit from a complete overhaul of its existing business standard loan form contract.

    Ombudsman Kate Carnell said this was a positive step.

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  • New Western Sydney medical hub supports hundreds of jobs

    Deputy Premier John Barilaro and Minister for Health Brad Hazzard today announced the opening of a new warehousing and distribution hub by global medical device manufacturer Medline, supporting hundreds of jobs in Western Sydney.

    Mr Barilaro said the 25,000 square metre Marsden Park facility was secured with assistance from the NSW Government-backed Jobs for NSW.

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  • Full Federal Court orders $20.6million penalties against Cement Australia companies

    The Full Court of the Federal Court has upheld an ACCC appeal, and dismissed a cross appeal by Cement Australia, against the penalties imposed on Cement Australia Pty Ltd and its related companies for making and giving effect to anti-competitive agreements.

    The trial judge had imposed penalties of $17.1 million against the Cement Australia companies.  The Full Court has now ordered these companies to pay increased penalties totalling $20.6 million for breaching the anti-competitive provisions of the Act.  This is the third highest total penalty imposed for an ACCC case. 

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  • Man arrested for fraud and identity crime

    A 25 year old man has today been arrested on 106 charges related to Commonwealth fraud and identity crime.

    Today’s arrest follows a joint investigation between the Financial and Cyber Crime Group, State Crime Command and the Criminal Law Investigations area of the Australian Taxation Office (ATO).

    It is alleged the man has been linked to 63 fraudulent tax return lodgements via myTax, from September 2015 to July 2016.

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