Business News Releases

Hearings continue for Indigenous education inquiry

The Standing Committee on Indigenous Affairs is inquiring into models of schooling, including residential schools that are found throughout Australia. We want to identify what works for Aboriginal and Torres Strait Islander students, their families and communities, as well as final high education and training or employment outcomes.

Thursday 11 February, 11.30 am – 1.00 pm
Committee Room 1R4

11.30 am Prime Minister’s Indigenous Advisory Council

  • Mr Warren Mundine, Chairman
  • Mrs Leah Armstrong, Member
  • Mr Andrew Penfold, Member

12:15 pm Australian Indigenous Education Foundation

  • Mr Andrew Penfold, Executive Director
  • Ms Renee Steenstra, Projects Director

Further information on the inquiry, including a link to an online questionnaire for Aboriginal and Torres Strait Islander students, their families and educators, can be found on the inquiry website at www.aph.gov.au/educationalopportunities. The Committee will also continue to accept submissions to the inquiry throughout February 2016.

The public hearings will be webcast live at http://www.aph.gov.au/News_and_Events/Watch_Parliament.

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Tax agents’ update on the Tax Office

THE House Tax Committee will hold a public hearing tomorrow with tax advisory bodies. The hearing will set the scene for the Committee’s public hearing with the Commissioner of Taxation and the Inspector-General of Taxation on Wednesday, 24 February 2016.

The ATO is working with tax agents on several IT initiatives. For example, the ATO is maintaining current systems for longer to help tax agents change to new platforms; and has agreed to improve its IT systems to help tax agents and their clients.

However, tax groups have also raised concerns. These include:

  • how soon the ATO will make promised improvements to its systems
  • whether pre-filled data is accurate
  • whether ATO actions will interfere with the agent-client relationship
  • whether the new standard business reporting system will handle increased demand in Tax Time 2016.

The Committee Chair, Mr van Manen, said, “The ATO is a lead agency in the Governments’ drive to be more efficient and provide better services online. We support the ATO’s work here. But the ATO needs to effectively involve the tax community and ensure changes meet their needs. We look forward to their views and their suggestions for improvements.”

The hearing will discuss other topics in tax, including the cash economy, the ATO’s standards of customer service, the tax gap, and changes in how the ATO manages tax disputes.

Public hearing program
Wednesday, 10 February 2016
Committee Room 1R1
Parliament House, Canberra

Time
4.10 pm – 5.30 pm

Organisations
Chartered Accountants Australia and New Zealand, Council of Small Business Australia, CPA Australia, the Institute of Public Accountants, and the Tax Institute.

For media comment: please contact Jessica Reid on 0437 731 858.

For information about the inquiry: please contact the committee secretariat by telephone (02) 6277 4821 or e-mail This email address is being protected from spambots. You need JavaScript enabled to view it. or visit the committee website www.aph.gov.au/taxrev

Live broadcast: go to www.aph.gov.au/live

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City of Sydney hosts Future Asia Business Summit

Lord Mayor Clover Moore will today host the City of Sydney’s Future Asia Business Summit, a forum giving the Sydney business community an insight into emerging opportunities in Asia.

Westpac’s Chief Executive of Commercial and Business Bank, David Lindberg, will present on current economic trends and challenges in China, and how local businesses can benefit. Mr Lindberg will be joined by a panel of Australia-China business experts.

More than 300 business and government representatives will attend the event that is part of the City’s annual Chinese New Year Festival.
 
WHEN: TODAY - 12pm on Tuesday 9 February 2016
 
WHERE: Sydney Town Hall – 483 George Street
 
CONTACTS: City of Sydney Senior Media Adviser Keeley Irvin on 0448 005 718 or This email address is being protected from spambots. You need JavaScript enabled to view it.

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Summit to make China’s future Sydney’s business

THE Future Asia Business Summit will see Westpac executive David Lindberg explore current economic trends, market insights and challenges in China, along with what local businesses can do to set themselves up for future success.
 
More than 300 business and government representatives are expected at the event, that is part of the annual Sydney Chinese New Year Festival – the biggest celebration of the Lunar New Year outside mainland China.
 
Lord Mayor Clover Moore said the summit presented Sydney businesses with a unique opportunity to learn how they can benefit from China’s economic growth.
 
“China is Australia’s largest export market for both goods and services – accounting for nearly a third of total exports – and a growing source of foreign investment,” the Lord Mayor said.
 
“With the recent signing of the China-Australia Free Trade Agreement, and China’s ongoing transition to a services and consumption-led economy, now is the time for the city’s businesses to take advantage of new openings in China.
 
“Our future economic competitiveness depends greatly on the connections we make with our Asian neighbours – not only in the professional services and financial sectors, but also in retail, tourism, education and the creative industries.
 
“Today’s summit will give businesses an unprecedented opportunity to learn from some of Australia’s foremost China business experts on how they can benefit from both recent developments and future trends.”
 
David Lindberg, Westpac’s Chief Executive of Commercial and Business Banking, said: “Westpac is excited to partner with the City of Sydney to assist the business community to take advantage of emerging opportunities across Asia.
 
“China is transforming itself in significant ways as it transitions to the next stage of economic development. It is moving from a manufacturing and construction-led economy to a services and consumer-led economy. 
 
“This provides a vast landscape of new opportunities for the Australian services sector, where today services account for 70 per cent of our economy but only 20 per cent of our exports. This presents great prospects for healthcare, education, professional services, tourism, hospitality and agricultural services – it is an exciting time to be an Australian business.”
 
On recent global economic news, Mr Lindberg said: “It isn’t as bad as the headlines would have you believe.”  He urged businesses to continue to invest toward our shared prosperity.
Following Mr Lindberg’s keynote address, he will be joined by a panel discussion featuring four experts on Australia-China business and economic relations: 

  • Benjamin Sun – Director at Think China, a China-focused e-commerce and digital marketing agency;
  • Joy Chen – Executive Director and NSW Leader of China Business Group at Ernst & Young;
  • Elliot Clarke – Director and Senior Economist at Westpac; and
  • Sara Cheng – Senior Manager of China Practice at NSW Business Chamber.

The summit is the first of several City-led opportunities this year for Sydney businesses to take advantage of emerging economic opportunities in China.
 
To celebrate the 30th anniversary of Sydney’s sister city relationship with Guangzhou, the City will lead a delegation to the southern Chinese economic hub from 30 May to 2 June, showcasing Sydney’s dynamic economy, industry and culture to potential Chinese partners.
 
Events are being run by the Australia China Business Council, Sydney Symphony Orchestra, University of Sydney, University of Technology Sydney and 4A Centre for Contemporary Asian Art, and will include a full-day business summit, sustainability forum, international student alumni event, contemporary art exhibition and concert.
Other City initiatives to strengthen connections with Asia include:

  • Providing ‘China Connect’ training workshops to help local tourism and retail providers understand and respond to the needs of Chinese customers;
  • Sponsoring the annual Sydney China Business Forum;
  • Working with retailers to take advantage of promotional opportunities during Chinese New Year; and
  • Sponsoring and hosting last year’s successful China Australia Millennial Project, which brought together young Chinese and Australian entrepreneurs.

These programs are part of the City’s 10-year Economic Development Strategy, that aims to strengthen business competitiveness, improve business productivity and capacity, and promote opportunities for the local business community.

www.cityofsydney.nsw.gov.au

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Innovation and creativity: a workforce for the new economy

AUSTRALIA’s international competitiveness in the post mining boom economy will depend on our capacity to promote and meet the workforce demands of innovative and creative industries. These industries include medical research and biotechnology, software development, clean energy, agri-business, food processing, finance, tourism and education.

The Standing Committee on Education and Employment has initiated an inquiry into how best to facilitate and coordinate investment in research, commercialisation and skills to promote these new and emerging industries. It looks at two key issues:

  • the capacity of Australia’s education providers to offer the qualifications and skills needed to meet the needs of Australia’s new and emerging industries; and
     
  • the relationships between tertiary education entrepreneurship programs and private incubators, and the factors that may discourage closer partnerships between small and medium sized enterprises, the research sector and education providers.

Committee Chair, Dr Andrew Laming MP, said that Australia is lagging behind other developed countries in terms of innovation performance.

“The Global Innovation Index has Australia ranked at number 17 in the world when it comes to our ability to innovate. Compared with other similar nations, Australia has a long way to go if we want to catch up and be able to support our future labour force,”

“Education is the strongest link when it comes to innovation and creativity. Our ability to deliver this effectively, in conjunction with industry for industry, is the premise of this inquiry.” Dr Laming said.

Dr Laming emphasised that the Committee’s work will closely complement the Government’s National Innovation and Science Agenda.

“The Committee’s inquiry will highlight the opportunities and the barriers to be overcome if Australia’s creative and innovative industries are to collaborate effectively and develop the necessary culture, capital, talent and skills. These key themes are the focus of the Turnbull Government’s Innovation Agenda.”

The Committee is currently accepting submissions addressing the terms of reference. Any interested individuals or organisations who wish to provide a submission are asked to email the secretariat by 19 February 2016 expressing their intention to submit.

For further information, including the full terms of reference and how to prepare a submission, please visit the committee’s website or contact the secretariat on (02) 6277 4573.

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