Wednesday, 26 July 2017 Sydney

Invest In Australia Blog::

  • Innovation boost for Canberra businesses partnering with UC

    Both students and businesses are set to learn from each other through a new partnership launched this week at the University of Canberra.

    The ACT Government is delivering an innovation boost to our local economy, partnering ACT businesses up with teams of students from the University of Canberra.

    Participating businesses, engaged by the Government’s Innovate Canberra team, will each be allocated teams of third year UC students that will compete to develop and pitch a digital communications strategy. The businesses then have the option of bringing on a student to see through the implementation of the winning strategy.

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  • International visitors boost NSW economy

    International visitors have contributed a record $9.8 billion into the NSW economy in the last 12 months. 

    The latest International Visitor Survey results found NSW attracted more than 3.9 million overnight international visitors in the last 12 months, a 10 per cent increase from the previous year.

    Sydney continues to be the most popular Australian capital city for international tourists and regional NSW reached a record high with 781,000 international visitors.

    Minister for Tourism and Major Events Adam Marshall said the China market was a key driver in drawing record numbers to the state.

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  • ACCC won't oppose proposed merger of Dow and DuPont in Australia

    The Australian Competition and Consumer Commission will not oppose the proposed merger of The Dow Chemical Company (Dow) and E.l. Du Pont de Nemours and Company (DuPont).

    On 27 March 2017 the European Commission cleared the proposed merger, subject to divestiture of major parts of DuPont's global pesticide business and global research and development organisation. Separately Dow will also divest its acid co-polymers and ionomers business.

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  • Release of the ATO systems report

    Today the ATO has released a report into the systems outages we experienced in December last year and February this year. This report incorporates findings from our own internal review, as well as technical advice and a separate report prepared by independent expert reviewers.

    Key findings

    The report outlines what happened to our IT systems and the impact on our stakeholders. In summary the report has found that:

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  • Lumo Energy pays penalty for alleged energy offer misrepresentations

    Energy retailer Lumo Energy Australia Pty Ltd (Lumo) has paid a penalty of $10,800 after being issued with an infringement notice by the ACCC.

    The ACCC issued the infringement notice because it had reasonable grounds to believe that Lumo had contravened the Australian Consumer Law by making a false or misleading representation about energy discounts.

    Lumo made a representation on its website in February 2017 that consumers, including those outside of Victoria, could save 33 per cent off their total electricity bill and 17 per cent off their total gas bill if they switched to Lumo.

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  • Optus to compensate customers shortchanged on data, call and text inclusions

    The Australian Competition and Consumer Commission has accepted a court enforceable undertaking from Optus Mobile Pty Limited agreeing to compensate customers following an investigation into concerns that Optus was providing less data than advertised to consumers.

    The undertaking relates to three separate incidents in 2015 and 2016 where Optus decided to reduce some of the data, calls and/or texts inclusions offered with particular Prepaid products without telling affected customers.

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  • Fraudster brought to justice

    Hightrade executive Song (Peter) Chang was convicted of conspiracy to defraud the Commonwealth and sentenced to 5.5 years’ jail on Friday following a complex investigation by the Australian Taxation Office (ATO).

    Between 2002 and 2007, 45-year-old Chang conspired to defraud the Commonwealth of $10.5 million by engaging in fraudulent behaviour during the construction of the Pokolbin golf course.

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  • Tax Time 2017 scams audio grab

    The ATO is reminding Australians to be on the lookout for aggressive tax debt scams and has released audio content for radio stations interested in covering the story.

    The recording features Assistant Commissioner Kath Anderson speaking about what to be aware of and how to protect yourself from scams. (WAV 15.6 MB)This link will download a file


    Stop! Scammer time!

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  • Stop! Scammer time!

    The Australian Taxation Office (ATO) is reminding Australians to stop and think before giving their personal details or hard-earned money to scammers this tax time.

    Assistant Commissioner Kath Anderson said 48,084 scams were reported to the ATO between July and October last year.

    “We have already seen a five-fold increase in scams from January to May this year and typically expect further increases during the tax time period,” Ms Anderson said.

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  • Penalty Rates Decision Welcomed

    Today’s transitional arrangement decision by the Fair Work Commission (FWC) is a good outcome for Australia’s SME’s.

    The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell says the FWC’s decision to reduce Sunday and public holiday penalty rates in the retail, hospitality, fast food and pharmacy sectors is fair.

    “This is a justified decision, backed by plenty of evidence from the final penalty rates decision report. Finally small business and family enterprise owners across Australia will have a chance to compete with big business,” Ms Carnell said.

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