Saturday, 15 August 2020 Sydney
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Invest In Australia News::

  • NSW residents are being encouraged to check if they own any of the missing millions waiting to be claimed from Revenue NSW.

    Over $146 million in forgotten money is sitting with Revenue NSW, including money from share dividends, trust accounts, deceased estates and overpayments.

    The missing money hasn’t been returned to its owners because their contact details have changed and they can’t be tracked down.

    The money waiting to be claimed ranges from $20 in share dividends to a trust fund worth more than $1 million.

  • Market imbalance threatens future wine industry growth

    Future growth prospects for the Australian wine industry will be heavily dependent on reforms to improve competition for wine grapes, according to the ACCC.

    The current low level of competition between winemakers buying grapes not only leads to inefficient outcomes in production and pricing but also discourages innovation and capital investment, ACCC Deputy Chair Mick Keogh said in a speech to the Australian Wine Industry Technical Conference in Adelaide today.

  • Construction starts on a world first liquid hydrogen project in Victoria

    Victoria's work in spearheading a new global hydrogen industry recently reached a significant milestone with the commencement of construction of Australia's first hydrogen liquefaction facility.

    This facility forms a critical part of the Hydrogen Energy Supply Chain (HESC) Pilot Project which will involve the production of hydrogen from Latrobe Valley brown coal to be liquified at the new facility and transported to Japan in the world’s first marine transportation of liquified hydrogen.

  • O’Connor sells out Tasmania and joins the anti-renewable bandwagon

    After days of silence, Cassy O’Connor has today revealed she is against a massive renewable energy project in Tasmania.*

    It seems Ms O’Connor would rather sell out Tasmania’s renewable energy future in favour of appeasing former Greens leaders Bob Brown and Christine Milne and supporting their NIMBY, anti-everything agenda.

    Even worse, she is also jeopardising Tasmania’s position as the renewable energy powerhouse of Australia, which has the potential to inject up to $5 billion into our state’s economy and create thousands of jobs, particularly in regional Tasmania.

  • Backing our Regional Tourism Organisations for the future

     

     

     

    The Hodgman Liberal Government is investing $3.77 million over the next three years to support Tasmania’s Regional Tourism Organisations to sustainably grow visitation in every region of our State.

    The Government is a strong supporter of the regional tourism model, which is central to achieving T21 objectives of greater visitor dispersal to the regions, increased length of stay and higher spend per visitor.

  • Miniso makes Melbourne their Australian Headquarters

    Recently we were delighted to help Miniso celebrate the launch of their Australian headquarters in Melbourne and the opening of another new store in Melbourne’s Chadstone Shopping Centre.

    Miniso is a highly successful international retail brand with over 3,600 stores around the world. And with big plans for the future, Miniso has the objective of being the world’s largest retail brand by 2020.

  • Dodo and CovaU to refund customers and pay penalties over energy discount claims

    M2 Energy Pty Ltd (Dodo) and CovaU Pty Ltd (CovaU) have paid penalties totalling $37,800 and $12,600 respectively after the ACCC issued each energy retailer with infringement notices for alleged misleading claims about discounts available on their energy plans.

    Dodo and CovaU have both committed to refund affected customers.

  • Nearly 2 out of 3 people are participating in the labour market

    Australia's trend participation rate increased to 66.0 per cent in June 2019 according to the latest information released by the Australian Bureau of Statistics (ABS). 

    ABS Chief Economist Bruce Hockman said, "Australia's participation rate was at 66 per cent in June 2019, which means nearly two of every three people are currently participating in the labour market. "

    "The participation rate for 15 to 64 year olds was even higher and closer to four out of every five people, " said Mr Hockman. 

    The trend unemployment rate remained steady at 5.2 per cent from a revised May figure.

    Employment and hours

  • The Gloaming boosts Tasmanian businesses

    Major crime drama series The Gloaming will have injected more than $7.5 million into the Tasmanian economy when filming wraps up later this month after an 18 week shoot.

    This return is more than seven times the $1 million the Hodgman Liberal Government invested into the series through Screen Tasmania’s Screen Innovation Fund.

    The Gloaming, which has been filming in Hobart and surrounds since March, has employed more than 50 crew and a substantial number of Tasmanian cast members, including in featured roles.

  • Uber Eats amends its contracts

    Uber Eats has committed to changing its contracts with restaurants following an investigation by the ACCC.

    From at least 2016, Uber Eats’ contract terms made restaurants responsible for the delivery of meal orders, in circumstances where they had no control over that delivery process once the food left their restaurant.

    Uber Eats’ contract terms give it the right to refund consumers and deduct that amount from the restaurant even when the problem with the meal may not have been the fault of the restaurant.

  • More households renting as home ownership falls

    The proportion of Australian households renting their home increased to 32 per cent in 2017–18, according to new figures released today by the Australian Bureau of Statistics (ABS). This is an increase from 27 per cent in 1997–98.

    Over the same 20-year period, the proportion of households that rented their home from a private landlord increased to 27 per cent (up from 20 per cent), while the proportion of public housing tenants decreased from 6 per cent to 3 per cent.

  • Artisan trades contribute to restoration of Flinders St Station

    The result of four years and $100 million in Victorian Government funding, the reveal of the upgraded Flinders Street station is only months away. We get an insider’s look into how the combination of niche craftmanship and government policy came together to revamp one of Melbourne’s most beloved transport hubs.

    Australia’s oldest train station, Flinders Street Station, is listed on the Victorian Heritage Register. Its distinctive façade and green copper dome are the result of an architectural competition to design the station held in 1902.  

  • Sydney’s cruise terminal receives major upgrade

    Two new giant gangways at the Sydney Overseas Passenger Terminal will improve the boarding and disembarking experience for passengers.

    The custom-built walkways have been designed to better support visits from larger cruise ships, which can carry up to 5000 passengers.

    Following testing and commissioning, the new gangways will be operational in time for the 2019–20 cruise season. They will be able to move 1200 passengers every 30 minutes.

  • Vodafone to compensate customers over 'direct carrier billing' charges

     

    Vodafone has admitted to making false or misleading representations about its third-party Direct Carrier Billing (DCB) service and will contact and refund impacted consumers, following an ACCC investigation.

    The investigation was carried out by the ACCC under a delegation of the Australian Securities and Investments Commission (ASIC)’s powers.

    Vodafone admitted that it likely breached the ASIC Act from at least 2015, by charging consumers for content they had not agreed to buy or had purchased unknowingly.

  • Moody’s confirms growth and stability in Tasmanian economy

    Today’s Moody’s Investor Service Credit Opinion of Tasmanian State Government finances shows that our long term credit rating remains stable at Aa2.

    Moody’s notes that despite softer economic conditions throughout the nation, the Tasmanian economy is resilient and diverse and continues to perform above its long term trend, with the strengthening local economy creating jobs.

    Moody’s also recognises our tourism industry for driving employment growth and private investment.

  • Tender open for the Sydney Gateway airport project

    The toll-free Sydney Gateway will make it easier and quicker for motorists to travel to Sydney Airport.

    Sydney Gateway will provide motorists with a new alternative route to the domestic and international airport terminals from the Sydney motorway network at St Peters interchange.

    Once open, motorists travelling to Sydney Airport will save:

  • Feedback sought on Great Artesian Basin shallow groundwater resource plan

    NSW Deputy Secretary Water Jim Bentley today announced the draft Water Resource Plan for Great Artesian Basin (GAB) Shallow Alluvial groundwater areas has been placed on public exhibition for community feedback.

    “This water resource plan is a key requirement of the Commonwealth’s Murray Darling Basin Plan. “It outlines how the NSW GAB Shallow groundwater resources will be shared sustainably into the future.

  • Innovative fund set to drive growth in Tasmanian Agriculture

    The Hodgman Liberal Government has an ambitious goal to grow the farm gate value of Tasmanian agriculture to $10 billion by 2050. Developing and adopting new practices and technologies will play a vital part in achieving this aim.

    The establishment of the new $3 million Agricultural Innovation Fund will drive research, development and extension projects.

    This new fund will invest strategically in innovative agricultural RD&E projects that capitalise on opportunities for growth and development while responding to threats to our vital agricultural sector.

  • Safety review of baby bouncers, rockers and inclined sleep products

    The ACCC will today begin a safety review of products designed for infants such as bouncers, rockers and inclined sleep products.

    The market review will be on inclined baby products used for sleeping, where the baby’s head and back are inclined, and may include a harness or belt to secure the baby into the product.

    The United States Consumer Product Safety Commission has reported that at least 74 infant fatalities have occurred in the United States while using bouncers, rockers and recliners.

  • Inequality stable since 2013–14

    Income inequality has remained stable in Australia while income growth has been slow, according to new information released by the Australian Bureau of Statistics (ABS) today.

    ABS Chief Economist Bruce Hockman said data from the 2017–18 Survey of Income and Housing – Australia’s largest survey of income and wealth – showed that income and wealth inequality had remained relatively stable since 2013–14.

    Income

    "While there was a marginal increase in inequality in the period leading up to the Global Financial Crisis in 2007–08, since 2007–08 the distribution of income between households has remained relatively stable,” Mr Hockman said.

  • Interim approval to Banking Code changes following Royal Commission

    The ACCC has granted interim authorisation to allow the Australian Banking Association (ABA) to take immediate steps to make certain changes to the Banking Code of Practice.

    These changes come in response to recommendations made by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Hayne Royal Commission).

    The interim authorisation allows member banks to agree not to charge default interest on loans secured by agricultural land in drought or natural disaster declared areas.

  • Aboriginal and Torres Strait Islander population projected to reach 1 million by 2028

    The Aboriginal and Torres Strait Islander population of Australia is projected to reach 1 million by 2028, according to the Australian Bureau of Statistics (ABS). 

    These projections are based on a series of assumptions of future levels of fertility, paternity, mortality and internal migration, which are guided by recent population trends. 

    ABS Demography Director, Beidar Cho, said: "Based on medium series, the Aboriginal and Torres Strait Islander population of Australia is projected to grow by 2.0 per cent per year to reach around 1,072,000 people by 2031.

  • New lending to households falls 1.3 per cent

    The value of new lending commitments to households fell 1.3 per cent in May 2019, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) figures on new lending to households and businesses.

    The fall in new lending to households in May follows a 0.6 per cent rise in April 2019.

    ABS Chief Economist, Bruce Hockman said: “Most components of new lending to households fell in May, led by weaker lending for owner occupier dwellings (down 2.7 per cent) and for investment dwellings (down 1.7 per cent).” 

  • More social and affordable housing in regional NSW

    Vulnerable people at risk of homelessness in regional NSW will now have access to brand new, fit-for-purpose social and affordable housing.

    Seniors, older women and younger people will have access to 102 new properties being built in Dubbo, South Kempsey, Wagga Wagga, Nowra, Queanbeyan East and Wauchope.

    Local businesses will take part in construction of the homes to help boost the local economy in these areas.