Thursday, 02 April 2015 Sydney
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Invest In Australia News::

  • Australian musicians receive support to create and promote their work locally and abroad

    Today I am announcing close to $900,000 in grants to increase the exposure of Australian musicians to national and international audiences, and support the development of new work.

    Forty-two musicians will be supported by a range of music grants through the Australia Council for the Arts.

    International engagement and the promotion of Australian artists on the world stage is a key priority for the Australian Government.

  • Australia must boost older workforce to secure prosperity

    Increasing the number of mature-age people in the workforce will be critical to Australia’s prosperity and its ability to fund public services in the future, Assistant Minister for Employment Luke Hartsuyker said today.

    Speaking at a Committee for Economic Development of Australia (CEDA) forum in Melbourne, Mr Hartsuyker said the Government’sIntergenerational Report revealed the number of Australians aged 65 or older is projected to more than double by 2055.

    Over the same period the number of people aged between 15 and 65 will halve as a proportion of the population.

    “The structural ageing of our population is one of the key policy challenges for our country because it affects so many aspects of our daily lives,” Mr Hartsuyker said.

  • Labour force figures

    Today’s ABS figures show employment increased by 15,600 persons in February. The labour force figures reveal a small fall in the seasonally adjusted unemployment rate from 6.4% to 6.3%.

    The participation rate decreased to 64.6 per cent in February to the same level as a year earlier.

    February’s employment result was in line with market expectations and there are some positive signs across various forward indicators of employment: ANZ job ads have now increased in each of the last nine months, and are up 9.8 per cent on the level seen a year ago.

    Minister for Employment Senator Eric Abetz said the Government will continue to work hard to build a strong, secure and prosperous economy for all Australians.

  • Deloitte appoints new Tax Management Consulting lead

     Deloitte today announced the appointment of Patrick Grob as a financial services tax partner. Based in the firm’s Brisbane office, he will also head up Deloitte's Tax Management Consulting practice.

  • Australia ranked 8th in the world for ‘digital attractiveness’

    • Australia ranks number one in political stability and regulatory risk rating
    • Yet has the second-highest illegal downloads
    • China, India, Russia and Mexico are highest-ranked emerging markets
    • Mature markets still lead in digital earnings potential but emerging markets show highest potential for growth

    Monday 11th March 2015 - A new report has found that Australia ranks 8th globally for ‘digital attractiveness’ due to low market costs and risks, but local media and entertainment (M&E) companies may need to set their sights on oversees targets to achieve maximum growth.

  • Deloitte and Group of 100 launch ASX Corporate Governance Council Principle 7: Recognise and manage risk

    11 March 2015: The third set of revisions to the ASX Corporate Governance Council’s Principles and Recommendations sets the benchmark for good corporate governance practices for listed entities in Australia.

    The revisions, effective for listed entities with financial years from or after 1 July 2014, introduce key recommendations and changes to Principle 7, further refining the recommendations to improve and strengthen risk management and increase the effectiveness of Board oversight.

  • Australia showcases world-first 3D printed jet engine

    Australian researchers have worked with French aerospace group Safran to produce the world’s first 3D printed jet engine, using new manufacturing processes that could lead to lighter, cheaper and more efficient jets.

    Monash University’s Centre for Additive Manufacturing (MCAM) and its spin-out company Amaero worked with Safran to produce the prototype, showcased at the Australian International Air Show in Avalon. They have also printed a second engine, which is displayed in Toulouse at Safran.

    The Commonwealth Scientific and Industrial Research Organisation (CSIRO), Deakin University and MCAM are leading initiatives to develop 3D printing and put Australia at the forefront of the global aerospace industry.

  • Construction begins on Werrington Arterial Road

    The Australian and NSW Governments today marked the start of construction on the $70 million Werrington Arterial Road project.

    The Assistant Minister for Infrastructure Jamie Briggs said the two infrastructure governments were getting on with building better roads for Western Sydney.

    “The Werrington Arterial Road forms part of our joint $3.6 billion Western Sydney Infrastructure Plan to slash travel times for motorists and help grow the local economy,” Mr Briggs said.

    “Not only will this project generate economic benefits of almost four times the initial investment, it will also reduce congestion and provide better links between the M4 and Great Western Highway.

  • Pacific Highway duplicated before end of the decade

    Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss has confirmed the Australian and NSW Governments' duplication of the Pacific Highway from Hexham to the Queensland border is on track to be completed by the end of this decade.

    “The Australian Government has made good on our commitment to invest $5.64 billion to finally get the job done on the Pacific Highway,” Mr Truss said.

    “Labor short-changed communities along the Pacific Highway by putting off what scant funding they said they would offer until after 2019–20. It was never a serious commitment to finish the job, let alone quickly.

  • Pacific Highway duplicated before end of the decade

    Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss has confirmed the Australian and NSW Governments' duplication of the Pacific Highway from Hexham to the Queensland border is on track to be completed by the end of this decade.

    “The Australian Government has made good on our commitment to invest $5.64 billion to finally get the job done on the Pacific Highway,” Mr Truss said.

    “Labor short-changed communities along the Pacific Highway by putting off what scant funding they said they would offer until after 2019–20. It was never a serious commitment to finish the job, let alone quickly.

  • Industry Growth Centres to help build Australia’s global links

    The Australian Government is moving ahead with its A$188.5 million Industry Growth Centre initiative, announcing the appointment of a panel of highly-experienced and internationally regarded business identities who will link the Australian and global business communities.

    Last year the Government announced it will set up five Industry Growth Centres as part of its Industry Innovation and Competitiveness Agenda.

  • Extra $1.3 million to support drought affected families

    The Federal Government will provide $1.3 million in extra funding to ensure families living in drought affected areas of New South Wales and Queensland can continue accessing family relationship support, Minister for Social Services, the Hon. Scott Morrison and Minister for Agriculture, the Hon. Barnaby Joyce said today.

    “Hundreds of families living in affected areas of New South Wales and Queensland continue to suffer from the effects of prolonged drought. This suffering affects individuals, couples and families, and entire communities,” Minister Morrison said.

    “The Government understands the importance of these relationships as well as family and community ties in helping people to survive when times are tough.

  • Transcript - 2GB Drive with Ben Fordham

    BEN FORDHAM: Owning your own home, it is known as the great Australian dream, but these days for most Australians it will only remain a dream. It is out of reach for the average young Australian growing up trying to get ahead, particularly in Sydney. What can we do about it? Two ideas have been floated today to make home ownership easier for everyday Australians. One has been endorsed by the Treasurer, Joe Hockey, well he says he wants to start a conversation about it. Joe Hockey is open to the idea of Australians being able to dip into their super to buy their first home. Super was designed as retirement savings so what do we think about relaxing those rules? The other suggestion comes from the NSW Opposition Leader, Luke Foley.

  • Increase in divestments expected as buyers circle assets

    Monday 9th March 2015 - Divestments will be a core component of companies’ capital strategy in the next year as management teams address pressure to improve portfolio performance, according to EY’s Global Corporate Divestment StudyClosing the deal: strategies to increase speed and value.

    The study is based on more than 800 interviews with corporate executives globally conducted between November 2014 and January 2015, focused on strategies and concerns in regard to divestment strategies.

  • Strict fisheries management pays off​

    The Australian fishing industry and seafood consumers are set to receive a boost from the long-awaited re opening of the eastern orange roughy fishery.

    Parliamentary Secretary to the Minister for Agriculture Senator Richard Colbeck welcomed the news, saying it is yet another example of Australia’s world leading fisheries management. 

    “I am pleased to announce today that orange roughy stocks have rebuilt to a healthy level where they can be commercially fished for the first time in 10 years,” Senator Colbeck said.

    “The eastern orange roughy stock was heavily fished in the late 1980s and early 1990s, leading to stock declines and longstanding fishery closures.

  • Take action or we’ll walk: young women expect more from corporate Australia when it comes to gender equity

    Friday 6 March, 2015 - Australia’s emerging female leaders believe it’s time for corporate Australia to move beyond the rhetoric on gender equity and take meaningful action or risk losing  key talent to non-corporate sectors.

    According to a new report released by EY ahead of International Women’s Day, despite two decades of effort to move the gender equity needle, young Australian women are still not convinced big corporations will allow them to have the flexibility they need in their careers.  And they are increasingly willing to vote with their feet, leaving corporate jobs to build careers on their own terms.

  • New investment specialist joins Austrade focused on resources and energy

    The Australian fishing industry and seafood consumers are set to receive a boost from the long-awaited re opening of the eastern orange roughy fishery.

    Parliamentary Secretary to the Minister for Agriculture Senator Richard Colbeck welcomed the news, saying it is yet another example of Australia’s world leading fisheries management. 

    “I am pleased to announce today that orange roughy stocks have rebuilt to a healthy level where they can be commercially fished for the first time in 10 years,” Senator Colbeck said.

    “The eastern orange roughy stock was heavily fished in the late 1980s and early 1990s, leading to stock declines and longstanding fishery closures.

  • Another Green Light for Westconnex

    Federal Assistant Infrastructure Minister Jamie Briggs and NSW Roads Minister Duncan Gay today announced the green light for another part of WestConnex to get under construction.

    Planning approval has been granted to fix of one of Sydney's worst pinch points, the King Georges Road Interchange, which is the first part of Stage 2 to get underway.

    “The Australian Government's up to $2 billion concessional loan means Stage 2 of WestConnex has been fast tracked by 18 months to provide relief sooner for Western Sydney motorists and businesses,” Mr Briggs said.

    “It means easing congestion for the 100,000 motorists who use the M5 each day so they can spend less time stuck in traffic and more time being productive at work or at home with the family.

  • Steady hand takes wheel at Infrastructure Australia

    Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss has welcomed Infrastructure Australia's appointment today of Mr Philip Davies as its new Chief Executive Officer.

    Mr Truss said Mr Davies is an ideal fit for the role, bringing to the position a strong record of achievement and wealth of experience both in Australia and overseas.

    “Mr Davies is an expert in infrastructure and transport planning,” Mr Truss said. “In addition to his experience as the Director, Infrastructure Advisory, Asia Pacific for AECOM Australia, he has also held the role of Director of Traffic Operations for Transport for London.

  • World-class pre-competitive geoscience data

    Resources and energy companies can now access the most comprehensive geoscience data on Australia to date to assist in their investment and exploration activities.

    The sixth edition of Total Magnetic Intensity (TMI) Anomaly Grid of Australia contains around 31.5 million line-kilometres of acquired magnetic survey data, 4.5 million line-kilometres more than the previous edition. Similarly, the third edition of the Radiometric Map contains significantly more data on Queensland and Western Australia.

  • Government Delivers Exploration Development Incentive and Other Key Taxation Improvements

    The Government has secured passage through the Senate of reforms that provide incentives for mineral exploration and remove punitive tax rates on excess superannuation contributions.

    The Exploration Development Incentive supports junior and mid-sized mining companies by encouraging greenfields mineral exploration.

    It is a catalyst for new exploration, new investment and new opportunities in the resources sector.

    The Exploration Development Incentive delivers on our election commitment and helps encourage investment for new minerals exploration in the junior exploration sector. 

    The Tax and Superannuation Laws Amendment (2014 Measures No. 7) Bill 2014 also includes a number of other important reforms including:

  • Final two weeks to have your say on foreign investment

    Those involved in the agricultural sector have two weeks left to put forward a submission to the Australian Government’s Consultation Paper Strengthening the Foreign Investment Framework. 

    Minister for Agriculture, Barnaby Joyce, said the consultation paper was launched by the Prime Minister and the Treasurer on 25 February, and submissions close Friday, 20 March, 2015 – just over two weeks away.

  • CSIRO performs strongly on global benchmarks

    The Commonwealth Scientific and Industrial Research Organisation (CSIRO), Australia’s national science agency, performs strongly against international benchmarks according to its annual Science Health and Excellence report 2013-14.

    The report tracks CSIRO’s performance against a range of indicators including collaborations, external review, research publication output and citations, and intellectual property.

  • Backing science that backs innovation in agriculture

    Agriculture Minister, Barnaby Joyce, awarded grants totalling up to $250,000 to 11 of Australia’s best young researchers, innovators and scientists to progress research that will help increase productivity on farms and across rural industries.

    “The Science and Innovation Awards for Young People in Agriculture, Fisheries and Forestry recognise the cream of Australia’s home-grown scientific talent and awards them each up to $22,000 in grant funding,” Minister Joyce said.

    “On top of that, one grant recipient is selected to receive the Minister’s Award – for an extended research project.